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MEETING
MINUTES
Friday, August 19, 2011
Volume 18; Issue 30
Board Update
Elections are next week. If you cannot be at this meeting
you can vote via email. Please send your 4 choices to
melissa@mabe-online.org.
Members rotating off the board include: Nick Mawrenko, Joe
Hesch, Jake Ulrich and Janice Jaicks and Althea Bussert.
Continuing board members: Ryan Bohlander and Mark Menasci.
Sandro Menasci will take over the Historian spot.
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Bob Busch nominated Joe Burr
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Nick Carr nominated Brad Green
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Jake Ulrich nominated Jeff Sutherlin
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Jeff Sutherlin nominated Nick Carr
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Sandro Menasci nominated Barb Luther
There will be a brief board meeting following next
week's meeting to determine new board positions.
Nominee Speeches
Barb Luther
(08/5/2011) - "Why elect me? I have a sense of humor
that helps speeds things along. Why not Barb? I will be
out of town during several meetings. I do want to give back.
You all have been very helpful to me. I also want to carry
through on some ideas."
Joe Burr
(08/12/2011) - It is an honor to be nominated. I enjoy this
group and would love to get more involved. You get out of it
what you put into it. About my attendance - My wife is a
flight attendant so when she flies I have to take care of my
daughter. The most positive thing about the group is the
business advice. The wisdom exchanged and the social events
help this group stand out from the other traditional leads group.
Jeff Sutherlin
(08/12/2011) - Communicating through Joe Hesch via text message) -
Sorry I couldn't be there but I sprained my ankle last night. I
don't want to be president immediately but would be interested in
being the social coordinator.
(08/19/2011) - I agree that the group is moving in the right
direction. I am humbled to be nominated. I don't want to
over commit in the beginning so I would prefer a role such as the
social coordinator. Some of my ideas are horrible, some are
pretty good. But I will have a lot of ideas that I bring to
the table.
Nick Carr
(08/19/2011) - I want to thank everybody for the nomination and
faith in me. I think the group is going in the right
direction. I love what Janice has done with the social events.
I really like the group. We have a good group of people.
I would like to do more outside activities and also try to get more
speakers in here so we can continue to learn.
Member Spotlight
This week's spotlight is
Nick Mawrenko. Please keep
this member top of mind this week for referrals.
Meeting Location
We are looking for a meeting location of Friday, October 7th
as the Shalimar is doing some remodeling. Joe Zingale and Jake
Ulrich both offered up their locations. Herb Stokes had
offered to host a meeting in the past.
Social Update
Friday August 26th
7:00pm @ Janice Jaick's Home
1318 W Mountain View Drive
Mesa, Az 85201
480 570 3398 (cell)
This is a wine and appetizer tasting party. Bring your wine in a
brown paper bag and your appetizer should be homemade.
Membership
John Dennett is no longer a member. The marketing category
is open.
Jake Ulrich brought in a potential new member as a guest today. Joe Arsenault is a CPA.
His application has been submitted. Members have 3 business
days to make any final objections.
"I came a month ago as a guest and appreciate being here again.
For the last 3 years I have been working as an internal consultant
for a Scottsdale firm and at the same time spending a lot of time
building my own book of clients and preparing taxes. I decided
to do it full-time. I am excited about it and excited to meet
everyone here. Thanks for having me."
Next Week
Erin LaGrassa is going to take all her new found "worldly
knowledge" on financial responsibility and share it with us next
week.
Bank Industry Update, Jake Ulrich
A lot of the recent legislation that has been passed to
supposedly help us is actually hurting us. He touched on
overdrafts, interchange income and the right to offset.
In some states Wells Fargo is starting to charge people a $3 fee to
use their debit card. They realize they could lose a large
share of clients but they are counting on an even larger group of
people to not look at their statements.
Free checking could also go away.
Some banks are offering money if you open accounts with them.
They are buying your lead.
Be aware that changes are coming. Watch your accounts. Jake
will be more than happy to look at your accounts and make
recommendations.
If you see a smaller bank dramatically trying to increase business
by offering great rates on a savings account, for example, be leery.
That is a sign that they need capital and may be in trouble.
Larger banks are going to be fine, they are stable. The
smaller community banks could face more hardships.
Credit Unions are
non profits and cannot get into business lending. The reason
is because they don't pay taxes which would give them an unfair
advantage.
You will see a
reduction in branches simply to reduce overhead. Especially if
it is a branch that does not have enough business to justify the
costs.
If a bank
anticipates losses, they set aside reserves to deal with that issue.
Bank of America, for example, has set aside money to deal with the
Countrywide issue. The fact that may not show a profit
should not be a concern.
When you purchase a
business you are buying the assets AND the liability. | 