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Grex > Coop12 > #43: Minutes of Grex Board of Directors meeting, 12 September 2001. | |
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other
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Minutes of Grex Board of Directors meeting, 12 September 2001.
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Sep 13 20:24 UTC 2001 |
Minutes of Grex Board of Directors meeting, 12 September 2001.
Attendees: other*, flem*, aruba*, (Carol), glenda, critter(former), mdw*
(* indicates board member)
1. Opening Gavel - 8:01 pm [NO QUORUM]
2. Those present took a moment to silently honor and remember those
lost in yesterday's tragedies.
3. Treasurer's Report
See report for details. 90 current members. 88 paid up.
The CardService saga appears to be over.
Anticipated September numbers: $255 in, $429 out.
CDs update: The best looking deal is to arrange 5 overlapping
5 month $600 CDs which automatically renew. This would make at least
$600 available without penalty once every month after the first five
months. The penalty for early withdrawal is 3 months' interest on the
amount withdrawn. The current interest rate is 3.86%.
Mark wants to update some Grex webpages which point to outdated
transaction services. He will obtain lynxadm membership from staff.
3. Staff report
Marcus reports a successful test of kerberos authentication using
an offsite Grexlike password file. This is an important step
toward the eventual goal of running Grex's mail functions on a
dedicated machine, and generally toward distributing Grex's
disparate functions for more efficient computing.
4. Publicity Committee
5. New Business
6. Schedule next Meeting
Wednesday 10 October 2001. 7:30 pm.
7. Closing Gavel - 8:37 pm
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| 14 responses total. |
aruba
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response 1 of 14:
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Sep 13 20:52 UTC 2001 |
The $255 for September was what we have received so far, not a projection.
Hopefully we'll get some more.
I'm not claiming that the CD idea suggested is the best deal available
anywhere, but it's something we can do without changing banks. Since it's
better to do something than nothing (though, in this case, only marginally
better), we'll do this until we need the money or something better comes
along. Estimated interest income is about $9.65/month.
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aruba
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response 2 of 14:
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Sep 13 20:53 UTC 2001 |
We had 3 board members for most of the meeting; Marcus came in near the end.
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other
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response 3 of 14:
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Sep 13 21:45 UTC 2001 |
UPDATED MINUTES:
Minutes of Grex Board of Directors meeting, 12 September 2001.
Attendees: other*, flem*, aruba*, (Carol), glenda, critter(former), mdw*
(* indicates board member)
1. Opening Gavel - 8:01 pm [NO QUORUM]
2. Those present took a moment to silently honor and remember those
lost in yesterday's tragedies.
3. Treasurer's Report
See report for details. 90 current members. 88 paid up.
The CardService saga appears to be over.
September numbers: $255 in so far, $429 (anticipated) out.
CDs update: The proposed deal is to arrange 5 overlapping
5 month $600 CDs which automatically renew. This would make
at least $600 available without penalty once every month
after the first five months. The penalty for early withdrawal
is 3 months' interest on the amount withdrawn. The current
interest rate is 3.86%.
Mark wants to update some Grex webpages which point to
outdated transaction services. He will obtain lynxadm
membership from staff.
3. Staff report
Marcus reports a successful test of kerberos authentication
using an offsite Grexlike password file. This is an important
step toward the eventual goal of running Grex's mail functions
on a dedicated machine, and generally toward distributing
Grex's disparate functions for more efficient computing.
4. Publicity Committee
5. New Business
6. Schedule next Meeting
Wednesday 10 October 2001. 7:30 pm.
7. Closing Gavel - 8:37 pm
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flem
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response 4 of 14:
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Sep 13 22:36 UTC 2001 |
I think we should reconsider the phrase "Grex's mail functions", since they
could be taken to imply that mail is Grex's primary function.
</making fun of other>
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mdw
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response 5 of 14:
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Sep 14 20:08 UTC 2001 |
(Thank goodness he's not asking about any grex female functions.)
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janc
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response 6 of 14:
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Sep 14 20:36 UTC 2001 |
Membership numbers seem to be continuing to fall.
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aruba
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response 7 of 14:
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Sep 15 01:02 UTC 2001 |
We have had only 4 new or returning members since April. I'm not sure what
the deal is.
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gelinas
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response 8 of 14:
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Sep 15 01:16 UTC 2001 |
How many memberships expired in the period?
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aruba
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response 9 of 14:
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Sep 15 01:28 UTC 2001 |
We received 60 dues payments during that period, and 15 members were removed
from the rolls because they didn't renew.
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gelinas
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response 10 of 14:
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Sep 15 01:32 UTC 2001 |
So what does the term "returning members" mean? People who used to be
members but haven't been for a while and now are again?
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aruba
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response 11 of 14:
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Sep 15 14:00 UTC 2001 |
Right.
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keesan
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response 12 of 14:
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Sep 20 19:03 UTC 2001 |
Mark, 3.86% is a pretty good rate. Bank of Ann Arbor no longer seems to be
offering more than 2.80% on a savings account (Passbook) and their CDs are
paying less than TCF (not that I like TCF, especially considering they have
taken to flying banner planes in small circles around downtown).
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keesan
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response 13 of 14:
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Sep 20 19:06 UTC 2001 |
PAX money market fund was yielding only 3.02% this week.
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keesan
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response 14 of 14:
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Sep 24 15:47 UTC 2001 |
Bank of Ann Arbor Statement Savings - 2.60%. I did not check CDs.
Flagstar Bank on E. Huron has bike parking and pays 2.73% on a plain
statements savings and 2.72% if you put in over $1000 (yes, those are the
numbers, and 3.25% for over $1000). CDs pay 3.15% 30-90 days, 3.55% 90-364
days, and they are having a special promotion on 12-17 month CDs for 4.25%.
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