ECONOMIC RESEARCH GROUP

MEETING

JANUARY 16, 2008

Thirty-two members were in attendance for the first meeting of 2008. Chairman Tom Keefer called the meeting to order at noon and asked if there were any guests or first time attendees present. Richard Dusine stood and introduced himself to the group. Tom then informed the members that he had secured speakers for February and March.

Gil Goodrich will present a Video in February dealing with the establishment of the Federal Reserve in 1913 to what the Fed is today. The March program will deal with the World Bank and some of its involvement the developing countries and their concept of democratic principles. Mort Levinson then treated the members to something light in his joke repertory. Chairman Keefer handed out several proposed menu selections and asked the members to indicate preferences and or indicate entrées they would like included. Tom also passed out a sign up sheet for to say when they would be available to be speaker Chairman.

After lunch was served Tom introduced the Speaker. Hello Tom.

Chairman Keefer said as a young collage graduate searching for work he thought working close to home in Indiana was a logical choice and what better choice than a company he knew of in Fort Wayne. He was fortunate to be interviewed and hired by Lincoln National Life Insurance, which was to be his employer for the next 42 years. Tom described his job with the company in field of Life Reinsurance, which is the subject of his talk and his attempt to enlighten the group of what reinsurance actually is.

Tom made a valiant effort and although a few eyes were glazed over he made the talk light and interesting concluding with his transfer to San Francisco and ultimately to Brussels. Lincoln finally sold the reinsurance unit after Tom retired to SwissRE, a company Tom had contact with during his time in Europe. While no one became and expert we did learn a few new terms such as transfer of risk, bifurcated exposure, co-insurance and risk tolerance.

Thanks Tom, you chose an excellent speaker who used his allotted time well.

Our next meeting will be on February 20 at Dominic’s Restaurant. The meal selection will be a choice of either Roast Pork or Sole. Call Bob Way (345-7014) if you have not already made you meal selection.

William Schinagl

Secretary