Attendees: Nicholas Sarwark, Derek Pomery,
Sabre Chase, Leroy Cain, Esther Whieldon, Joel Schander, John Knapo, Jacob
Aaronson, Gerald McClurg
19:50 - 21:45 March 19, 2000
Scheduled Business (19:50 - 21:00)
Financial Partner's Report
The Financial Partner spoke about three major issues:
The plans for the month are to get a bank account, deposit member's
checks, and open a Suretrade account.
- Employer Identification Number (EIN). We now have an EIN.
- Bank Account. We do not yet have a bank account. The
Provident Bank that was mentioned in the emails is in Ohio, not
Maryland. The voting was 5 to 4 against going with Provident.
The resolution was to research Sandy Spring Bank, and Salomon
Smith Barney before making a final decision. The final decison
was to be decided by online voting at the end of the upcoming
- Brokerage (Suretrade) Account. Everyone needs to sign a form
for Suretrade allowing Joel to take actions on behalf of the club.
Most all members signed, with the absent members to sign by the
end of the week.
The following bylaws were put to a vote and approved:
SBC Communications (SBC) - Esther Whieldon
- Officers of the club will be elected every six (6) months or
when a two thirds (2/3) majority of members request that a new officer
be elected, or when an acting officer leaves the club.
- Club dues are twenty-five dollars ($25) monthly to be paid at each
meeting. Dues arriving later than three (3) days after the meeting will
be posted the next month.
- All stock trades made will be market orders unless otherwise
chosen by majority vote of partners.
- If a partner misses two (2) consecutive meetings, a written
warning will be issued to them. A partner will be expelled from
the club after four (4) consecutive absences. This expulsion can
be waived by a majority vote of the partners.
- If a member fails to pay their dues for two (2) consecutive
months, a written warning will be issued to them. A partner will be
expelled if they fail to pay their dues for four (4) consecutive months.
This expulsion can be waived by a majority vote of the partners.
- In order to conduct club business, a quorum of more than one
half (1/2) of the members need to be present.
- Proxy voting will be allowed.
SBC's went up to approximately 45 since we looked at it last.
Cohesion Technologies (CSON) - Leroy Cain
Leroy recapped the information presented last time, and added some more
info. That info is posted on his website at
The stock was chosen as a buy, with voting 8 for, 0 against, and 0 needing
Viro Pharma (VPHM) - Derek Pomery
This stock is trading at around 77. Derek will research for next meeting.
Metricom (MCOM) - John Knapo
Metricom is a digital mobile communication company. Their new R2
service, which will offer 128 kbps wireless Internet access, is due to
be available by the end of the summer.
John also noticed that the price was dropping, without any obvious reason.
The voting was unanimous to keep watching MCOM.