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Tuesday, 11 June 2008 - Lamb’s Farm President Dee Cavenaugh called the meeting to order at 11:53 and led us in the Pledge. There were 55 members and guests present. The minutes of the May 13 meeting were approved as printed. Treasurer Ray Reidel presented his report, which showed the following balances: Operations Fund - $913.33 Life Fund - $45,898. Legislative - $1,564.58 Foundation - $70.43 Killian Scholarship - $2,213.13 LCRTA Scholarship Fund - $5,748.66 The report was filed for audit. Scholarship Chair Connie Reidel introduced two of our scholarship winners: Caitlyn Pickens, Grayslake NHS graduate who plans on attending Lake Forest College and becoming a math teacher; and Corin Lucy, Zion-Benton THS graduate who will attend Wheaton College and become a high school English teacher. Killian scholarship winner Jon Crawford could not attend. After lunch, Legislative chair Darwin Heide reported that Springfield is in gridlock (again) and urged members to sign up for VoterVoice. Program chair John Anderson introduced the speaker, retired professor and Federal Reserve board member Dan Doyle, who spoke on American economics in 2008. Of particular interest was the high demand for energy, especially oil, the weakening value of the dollar during the past 6-1/2 years, and the impact of futures speculators on oil prices. We have changed from a labor-intensive (manufacturing) to a capital-intensive economy. Half of our 5 trillion public debt is held abroad. However, he noted, “we cannot devalue our way to prosperity.” Finally, the “housing bubble” and contrarian hedge funds have ignored credit risk. Connie Reidel conducted the scholarship drawing. Sue McMillan was the winner of $41. There being no further business, the meeting adjourned at 1:39. Respectfully submitted, Marti Swanson, unit meeting secretary |
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