January 18, 2001


DICK LITTLESTONE, showing his military training, waited until he had everyone's attention, and then led the Pledge - well done, DICK. The song (lyricist unknown) was to the tune of Side By Side, but the words were somewhat less familiar. PP STEVE DAY (substituting for JACK HARRIS) and keyboarder PP JIM DOWNIE persisted manfully, however, and all ended well. Birthdays were next (followed by an editorial suggestion for February, OK?) and leading off was SANDY SANDERSON - San Antonio, TX, HARLAN LEWIS - Redlands, PP BOB LUSK - Los Angeles, PP RON LYSTER - Whittier, PAUL SORRELL - Emporia, KS, DAVE MATSON - Hawthorne, KEN KILPO - Duluth, MN, DENNIS CORNWELL - St. Johns, MI., and ATHENA JACKSON - Mk, MS. For February, why not consider making this announcement a bit more fun - perhaps who else was born that same day (ask PP STEVE DAY) or what event occurred, or what their favorite color is, or whatever - and YOE is fully aware that this bit of unsolicited editorial liberty is worth just what YOE is usually paid for such advice…

PAUL SORRELL, even though burdened with his birthday fine, then introduced our visiting Rotarian - none other than former stalwart, BILL BLOOMFIELD JR., now gracing the roster at Manhattan Beach. (And sporting a new, six-week-old hirsute growth). BOB THOM spoke for Peggy Bloomfield, while PDG BILL GOODWYN brought along Special Guest Sherry Dewane. SHARON RHODES-WICKETT was accompanied by husband AL, and Jane Spencer, who lectures at UCLA, was introduced by PP TOM LENEHEN. PP JOHN SINGLETON was with Special Guest Joe Monfiletto, who represents USA Trading. Our Rotary Auxiliary President, Shirley More, was there in support of our forthcoming Sweetheart Brunch. There were four Ambassadorial Scholars. LENORE MULRYAN is the Counselor for Lee Broeckman, who is going to Amsterdam to study International Journalism, and Amanda Miller will be in Chile studying Latin American Literature, her Counselor being SUSAN ALLEN. Incoming students are Vincent Pouyet, from Toulouse, counseled by GEORGE DEA, and Patricia K.D. (Honest - that's her surname), who was introduced by ANN ELKIN. BRUCE ROLF made the sad announcement that Barbara Michael, wife of BILL, passed away suddenly yesterday - funeral plans are pending.

TED IHNEN provided the Thought for the Day, "You cannot prevent the birds of sorrow from flying overhead - but you can prevent them from building a nest in your hair".

PP JIM COLLINS, who according to Prexy STEVE, just got in from Hong Kong, and is leaving later today for London, was rewarded with a steak dinner for having made the extra effort to attend today! However, not wanting to charge this to WVRC, STEVE cleverly stipulated that everyone at JIM'S table would be assessed two bucks to help pay for this 'reward'. These lucky tablemates were given an opportunity to leave, but no one took him up on the offer. Let us hope the Sgt. of Arms got all their names…And speaking of rewards, MIKE YOUSEM invited all those who participated in the Venice Boys and Girls Club Christmas Shopping program to check the table, where a number of Thank You cards were displayed. PP STEVE DAY came forward to award some Paul Harris Fellowships, and our Resident Angel, VIRGINIA GANDY, was there to assist. STEVE first reminded us of all the good that a gift of $1,000 can provide -those provided with Fellowships were PAUL SORRELL, SUSAN ALLEN and Al Rhodes-Wickett. Thank you, VIRGINIA, for your continuing generosity. PDG ANDY ANDERSON spoke of a recent experience at the Graduation of new Police Officers from the Academy. One of the new graduates came up to him, and reminded him that he was now a policeman because of the Career Day we put on at UniHi. ANDY suggested this is a program we should once again be sponsoring, and there was general agreement from the audience. A note from Jeanette Maxwell thanking Rotary for our flowers and attendance at BILL'S memorial service was read.

PP JIM DOWNIE snuck up on us with a pitch to attend Valentine's Day on Feb. 14th at Shanghai Reds in the Marina. Enroute to this destination he allowed as how "there were probably two music lovers in the Club", and since he would be providing music that day, he hoped that would be an additional attraction. JIM is right - it's a really nice occasion, and if you haven't signed up yet, contact PETER MORE, please. BOB THOM donated two tickets to the Laker game tomorrow night, and who stood up but Bill Bloomfield Jr. This purchase was probably made possible by the lesser lunch cost at Manhattan Beach - but we still love the Bel Air Hotel!

PP STEVE SCHERER then began the annual presentation of our Investment Advisors, admitting right away that their forecasts of a year ago had not been very good. The biggest loser was NASDAQ, which was down 34.3% from its earlier high, while the DOW dropped 6.2% and S&P was off 10.1%. One year Treasuries went from 5.99 down to 5.51, and the 30 year from 6.48 to 5.46. The group average prediction for 2000 was a final of 13K, so they were off by 2,213 points! Whether this was the reason or not, we had seven Advisors last year, and only four showed up this year…At this point, STEVE asked for an audience vote on 2001, with the following results: DOW, up 5 to10%, I year treasuries down, and 30 year treasuries up slightly.

Next up was LEE DUNAYER, who pointed out that there was a new rule in effect, stating that companies that expected they would not be able to meet predicted profit figures by year end had to so announce in December. A number of firms did so, which mitigated their actual losses somewhat - but we did have a hard landing anyway. The Fed rate cut before their monthly meeting was the first such cut in 23 years, and he expects another l/4 cut soon, with a total cut of 1% during this year. He feels that earnings are now the most important criteria, with interest rates also being significant. He does not expect a recession. His suggested energy stock is Scottish Power, as a low risk utility. Final, DOW up 13/14%, S&P up l5/l6%, and NASDAQ up 14/15%.

STEVE then read a letter from DONN CONNER, who claimed he was fishing with a big client in Baja. DONN'S chosen stock was Enron, and he expects the DOW to end at 9725, l year treasuries at 4.75 and 30 years at 5.10.

TODD GURVIS was next up, and his first comment was that the market is in a state of flux, and he looks for the 2nd half of the year to be a lot better than the first half. His stock choice is Duke Power, which is aggressively reinvesting its profits - always a good sign. He thinks the DOW will go up 12%, the NASDAQ up 10/12%, and both the one year and thirty year treasuries to go down from their present point. He reminded us that he takes the long view, and feels that the deflation in prices has already taken place.

DICK ROBINSON (also by letter) predicts the DOW will end at 11,000, one year 4.25, thirty year 4.75 and recommends Halliburton as an energy stock.

LEO TSENG pointed out that this is his 47th year in this business, and it will be up and down. He predicts the DOW will be up 8/10%, and suggests watching corporate earnings very closely. His energy stock is Chevron, which is merging with Texaco.

Finally, back to STEVE - and why all these guys didn't have enough time to explain their positions, I don't know - but briefly, STEVE reiterated his prediction of last year that technology developments will lead the way to major savings for those companies who harness them properly. The human genome mapping will become a major factor, and don't forget that you need power (electricity) to run any business. His stock pick is Enron, and at year-end, DOW 11,500, l year 4.80, 30 year 5.15, with the last half of the year being a good one. Final thought - "Buy low, sell high"…

And the Thought for the Day, from Ogden Nash - "People who work sitting down get paid more that people who work standing up." Ernie Wolfe, YOE.