Vice President Zuhair Suidan opened the meeting with 127 members present..Total membership 452.
ANNOUNCEMENTS: George Perkins reported Frank Bondor is in Norwalk Hospital and Bill Kirby in Waveny. Don Rowland praised the South School readers. Nick Yanicelli presented the new "New Member Brochure". No meeting next week.
ACTIVITIES: Bridge, tennis as usual. Paddle party on 5/21, 6-8PM..Chefs next is 5/24, Summer barbeque on August 17. The Investment Discussion Group meets on Monday, May 21 at 10:30AM at the Community Center. Golf at Ridgefield 5/21,Whitney Farms June 4. Bicyclists on Wednesdays. Pete Stair doing a NYC walk to Woodlawn Cemetery on June 6 and Flushing Meadows Park in late June. Mystery book group will read a Dick Francis book. Trail Blazers to start soon.
COUTH NY Botanical Gardens on May 29, $70pp. We will join the Darien Menís Club at Belmont Race Track on 5/24. June 13 at "ground zero" and Marco Polo Restaurant.
JESTER Mike Law told of the telephone call to a mansion owner which summarized disasters.
SPEAKER; Jose Rasco, HSBC Investment Strategist, described his company as truly global. They have experts in many countries. The flow of foreign money into our real estate market is impressive because of low prices and the dollarís fall. Energy investments in America are becoming very important, i.e. N. Dakota has become the 3rd largest energy producer in the U.S. The domestic economy is below needed growth rate, consumer debt is up. The FED will likely have another QE lll. His firm says to stress energy, technology and food investments. Corporate sector is afloat with cash, so they also like dividend payers and housing investments. The European recession will get worse, Asia will be a little slower, but will continue to grow. China is moving from a manufacturer to a retail giant. Latin American companies have both high levels of cash and debt.
Harry Hitch, Secretary