2.11.07 Minutes

Feb 11, 2007 - Basic Minutes

Agenda:
Seth Meeting with Ted who suggests:
- slow down with the partnership agreement
- meet with a lawyer who has experience with Investment Clubs
- The partnership agreement we pulled from the web from the Detroit Club. He suggested that we find a lawyer to augment agreement
- Since we haven’t formalized the club as a business we can take dues to pay for a lawyer to find out how we can do this.

Paul Hawken’s Article
- there’s no standardization for SRI’s
- Corporation can have a negative screen and still be considered SRI

Seth- call Joan re: Investment Club advice
Call Portfolio 21 re: $1000 automatic invest.


Partnership Agreement
We need to take these steps before we write and sign partnership agreement
Lawyer-Group agrees that it’s worth it to hire someone. We should check our leads first and see what we could do.
Accountant-Call Bradley- what is Unit Value Method? How does it work?


Article Discussion
There is no standardization for SRI so companies are getting away with being called SRI. Natural Capitol Institute is trying to create complete transparency and to help create a standardization method for SRI. The only mutual fund they consider SRI is Portfolio 21. HighWater fund is in the process of being created to establish transparencies (the ability get past green washing which is distraction using something “green” to cover up something else they are doing that is negative). Companies try to make their shareholders happy. The initial investments might not be 10% in the beginning, but the standardization process may help benchmark.

We need to figure out as a club what our standardization is as the standardizations are being created. In the meantime, Seth suggests investing in credit unions. Grameen and Ashoka company in micro lending. Suggestion: Investing in one company. Portfolio 21 w/ $1000 invest??? ING is a sustainable company. Everything is completely green. Their building has be come a landmark in Amsterdam and their bills are 93% less than similar ones because of it being built eco-consciously and green.

Next month Christopher Peck from Natural Investment Services will come and speak to us regarding the NIS Social Rating .

BASIC will focus 75% on education.

Tracy suggests a list of what we do so we can be resources to each other.

Suggestions on basic investing
Read a chapter of a book at the meeting. As we slow down
Rich Dad Poor Dad
The First Book of Investing By Samuel Case
Suzie Orman books
Investing for Dummy’s
ING Direct Home page- Great resource for information. http://www.orangeaccount.com/

Questions
Q: Do we decide where we put our money or do we have a broker decide?
A: We decide as a group where to put the money.