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JULY 5, 2016

NEXT MEETING: Tuesday, July 12


~~Evening meeting~~
6 PM at Soda Center, SMC

CPA who was a guest of Debbie


Roessler; Lafayette Rotarian Troy
Fetterson who is our Fab Five Assistant
Governor this year; and Prof. Fred Fuld,
our speaker for today. Kevin also noted
that Rich Render and Louise Schopke
were attending today. Richs appearance
under the noon day sun should finally put
to rest the vicious rumors that hes really a
vampire.

Program: Mary Vollmer: new book


Reliance, IL
Greeter and Invocator Barbara Bruner
~~FUTURE CLUB MEETINGS~
*July 19 -- Dane Wostenberg A Peace Corps Water
Project In Ghana.
* July 26th Bob Priebe, Town Manager The State of
Moraga Today.
*Aug. 2 -- To be Announced
** Aug. 9 -- Gary Wegener Motorcycling Across
Russia.
(August evening meeting at 6:00 pm)
*Aug.16 Ron Coccimiglio Cal Football Prospects
*Aug. 23 Jack Citrin Four Ps of the Presidential
Election In Wild 2016.
*Aug. 30 Joe Hester U.S. Coast Guard Narcotics
Enforcement.
*Regular Noon Meeting

** Second Tuesday Evening

~~BUSINESS MEETING~~
The meeting was opened by a rather
tentative ring of the bell by new President
Kevin Reneau, after which he received a
lusty round of applause for the start of his
year. Bob Fritzky, noting his immigrant
grandparents, quoted pertinent remarks
from other very successful immigrants,
and led the Pledge of Allegiance.
Guests today were: Venetia Baker, our
candidate for a one-year Global Grant
Scholarship; Debbie Koo, a semi-retired

Debbie Roessler spoke of her and David


Kruegels attendance at the Rotary
International Convention among about
42,000 attendees in Seoul, South Korea.
She brought back several club banners
from Taiwan, Nigeria, and from Rotary
Club of Shanghai where they received an
excellent meal and a wonderful welcome.
They both traveled independently though
other Asian countries after the Convention.

Dues are due: $150 for 1617


Paul Harris sustaining: $100,
which may be paid $50 now, &
$50 in January 2017.

Venetia Baker is a graduate of


Campolindo HS and UC Santa Cruz, and
has been a resident of Moraga for about
22 years. She recently spent 1 years in
South Africa as a researcher studying
infant and maternal health. She next
intends to study at London School of
Tropical Medicine and Hygiene, and has
recently found that the Rotary Club of
Salisbury (nearby) will be her in-country
sponsor. Both Rich Render and Roger
Gregory have worked very hard to
arrange the sponsoring Club, and the
applications are underway to obtain the
$15,000 Global Grant Scholarship from
Rotary International and the $15,000
District Designated Funds Grant.
Rich Render was the successful bidder
with a measly $50 for the July Fine-Free
Hat. He then revealed that he and Peg
are going to Maui for his birthday.
David Kruegel paid the max for his
birthday in late June.. . . . Gary Irwin gave
a Happy Buck for his and Carols 49th
wedding anniversary (which hadnt been
announced from the podium), but eagleeyed Treasurer Lad Lynch (who just had
cataract surgery and is now even more
eagle-eyed), made Gary pony up the
usual amount. . . . .Tony Schoemehl

bought a new Honda crew cab pickup


truck that is almost as fancy as Ericksons;
he offered $20 but shrewd President
Kevin spun the wheel for $25 to the Club.
The lucky raffle ticket and then the very
lucky green marble worth $114 were
both held by John Erickson. Yes, he
won it again.

~~ANNOUNCEMENTS~~
The Playground Project will be
discussed at the Town Council meeting
on Wednesday evening, July 13.
Members of our committee heading the
project will be there, and others are
welcome. . . . Rotary Family Fun Day will
be held on August 27 at Six Flags
amusement park in Vallejo. . . . . . All
Rotarians, spouses, and friends will be
needed to work the 2 day OMPA food
booth fundraiser/service project on
August 5 through 7. . . . . .John Germ, RI
President this year, will hold a dinner on
January 3, 2017 in San Jose, so mark
your calendar.

~~PROGRAM~~
Our speaker today was Prof. Fred Fuld, a
financial historian with a background in
many jobs.
He has been a Finance
Professor at Cal State East Bay and an
options trader for an investment firm. His
home is in Clayton.

out to be losers or outright fraud. Charles


Ponzi attracted investors with the promise
of high returns on arbitraging postal
exchange coupons; however he was just
paying returns to old investors with the
receipts from new investors, and this fraud
was eventually discovered.
Bernard
Madoff, who will be released from prison at
age 201, did the same thing more recently
and on a grander scale with presumably
more sophisticated investors.

President Kevin and Prof. Fred Fuld

The first recorded financial transaction ever


found was a baked clay tablet written in
cuneiform from Mesopotamia in 1781 BC,
where a loan was repaid in silver. While
corporations were not yet invented, many
investors backed voyages for valuable
commodities such as copper, gems, or
spices, with liability limited to their original
investment.
The first financial crash
occurred a few years later, when the king
voided debt contracts. This, of course,
dried up lending and caused a severe
decline in business.
In the middle ages, many investments were
in agricultural products, leading to the Bill
of Exchange as a recognized financial
instrument. The oldest preserved stock
certificate is from a Swedish company
dated in 1299; this company is still in
existence (with form altered over the
years). The Dutch East India Company
was a large firm handling exploration and
shipping from south Asia in the late 1600s.
There have been many investments
promoted over the years that have turned

Kelly Motors fooled investors with a


perpetual motion machine. And Enron,
whose original logo was called the
Crooked E,
crashed due to over
promotion and creative accounting.
The highest priced stock trade ever made
was for a share of Yahoo Japan (not the
USA Yahoo) at about $1.5 million per
share in 2000; it now trades at $8 per
share.
Brexit will have little or no effect on the
USA, and he doesnt particularly like the
bitcoin system.

CALENDAR OF FUTURE EVENTS


Aug 5-7 OMPA swim meet food booth
Aug 27 -- District Installation at 6-Flags, Vallejo
Sep 21 Chamber of Commerce mixer (sponsor)
Mar 24-26, 2017 District Conference in Berkeley
June 10 -14, 2017 Rotary International Convention,
Atlanta, GA

MORAGA ROTARY BOARD OF DIRECTORS 2016-17


President... Kevin Reneau
President-elect ............Dianne Wilson
Past President..Roger Gregory
Secretary...........Roger Gregory
Treasurer.......... Lad Lynch
Community Service Chair......Barbara Bruner
Youth Service...........................................Rich Render
International Service Chair..Tony Schoemehl
Public Relations ...Gary Irwin
Membership...........Frank May
Director at Large...John Erickson
Director at Large...Marv Ellenberg
Director at Large.. Cliff Dochterman
Director at Large ..Linda May
Director at Large.Mike McCluer
Director at LargeDebbie Roessler
~~~
President, Rotary International John Germ
District Governor.Fred Collignon
July newsletter editorGary Irwin

FUTURE PROGRAMS:
7/26

Bob Priebe, Acting Town Manager

8/2

TBD

8/9
Gary Wegener; Motorcycling through
Russia with Rotary
8/16
Ron Coccimiglio; Cal football, student
athlete development
8/23
Prof. Jack Citrin; Presidential Election
in 2016
8/30
Capt. Joe Hester; Coast Guard antinarcotics operations
9/6
part 2

Chris Lardge; Enigma codebreaking,

******

Greeter Schedule
7/19 Evie Michon
7/26 Dick Vance/Herb Wehmeyer
8/2 Angelo Costanza

11/15
District Governor Fred Collingnons
official visit