MEETING OF JANUARY 16, 2003
By Steve Yarbrough
Editor: Dick Blanding
At the invitation of President Mary Prochnow, Julie Rose opened the meeting with the flag salute and John Sylvester brought us a little sunshine with a song. Larry Chu remembered some of his most memorable fortune cookie proverbs. One goes something like this: Man who waits for roast duck to fly into his mouth, waits very long time.
President Elect Al Traficanti introduced Rotarians and their guests.
Helen Presti helped Meg Solera get rid of her red badge to a standing ovation. Welcome to Meg as a blue badger!
Charles Alpers presented his 5-minute talk. Chuck explained that he and his older sister’s roots go back to Chicago, Ill, but at the age of five, his father moved the family to
LA for brighter prospects. He was active in all sports, but went semi-pro with the Twins and Angels with his wicked curve ball. Sidelined by an elbow injury, Chuck turned to what became his profession – the restaurant and host industry. Starting out at the bottom as a bus boy, Chuck eventually worked his way through management with Victoria Station, Simon Fraser, Trader Vic’s, and others, finally landing at the Los Altos Country Club, where he’s manager. Chuck and his wife, Allison, have two sons, Ian and Ryan. Welcome Chuck!
Joan Roselle praised Larry Chu and Chef Chu’s Restaurant for sponsoring and providing the Alpha Omega dinner. Without Larry it would not have happened. Joan now needs volunteers for Feb. 3, 2003. Can you make the salad? If so, call or see Joan at the next Rotary meeting to help. Dessert maybe?
Jack Heidmiller got a quick volunteer to help transfer the Chile videos to DVD.
President Mary invited a club member to represent Rotary at the Eagle Scout Court of Honor for Troop 37. Gary Ross, who is an Eagle Scout, stepped forward. (We just knew Gary had to be an Eagle Scout from all the little old ladies he helps across the street. Go Gary!)
Finemaster Lem Summey donned his Indiana Jones hat and whipped some loot free from Sam Pesner, Karen Fox, Mona Armistead, Larry Chu, Joan Roselle, Karen Owen, Meg Solera and Sandi Whipple. Give Lem a round of applause.
NOTICE TO RED BADGERS:
The next Los Altos Rotary Club board of directors meeting is 7 a.m. Thursday, January 23, 2003 at the conference room of Roy Jones Travel Agency at 160 Main Street right next door to President Mary’s office. Get a requirement met and attend! Goodies served.
LAREF board met 1-15-03. Bob Adams reported that the Afghanistan clothing drive resulted in a massive effort by the club and 1,500 pounds of clothing was sorted, boxed and shipped to that needy part of the world. Many Rotarians deserve credit, but Matt Cabot, Al Ligtenberg, Carew Mcfall, Joe Renati and the Interact club were great workers. Thanks to everyone for their donations.
Boo Bue and Karen Fox raised a few shekels for auctioning off a 360-degree panorama of the city of Saint Petersburg.
Bella Berlly introduced speaker Dr. Jeanette Garretty, banker, economist, and scholar.
Dr. Garretty’s remarks:
We are living in sober economic times. A central question for all of us is what’s going on
today and in the future as it relates to economic recovery. The forecast for 2003 is not a bad looking forecast when observed in isolation. The issue is from whence we came, says Dr. Garretty.
In 2000, the United States was experiencing real growth. Then, in 2001, even before 9/11, the economy hit a brick wall. The really bad year was 2001. Many things lag behind the downturn. Bankruptcies, for example, and capital budgets for corporate spending. To overcome these lagging factors, an economy needs a lot of growth on the upswing to compensate. We have some growth, but not enough, Dr. Garretty explained.
Here in Silicon Valley we have a hard time seeing the recovery, but the recovery is in place in the rest of the U.S. and economic growth is expected to reach 3 percent this year.
The following must be in place to create an economic recovery:
– Stability
– Visibility
– Confidence (this took a big hit with all the corporate governance problems)
– Low interest rates
– fiscal Stimulus
– Bottoming out of the declining factors
When is the Valley going to turn?
Dr. Garretty advises that not everything is going down. Life sciences, financial services, estate planning are growing. Telecom and others are bottoming out. Dr. Garretty focused on the issues of ethics in business. She insists that it’s important to instill ethical standards into students and future business leaders.
Regarding the statewide outlook, Dr. Garretty advised that four to six areas of business are most important. The four she mentioned were tech, tourism, agriculture and business services. She advised that economists expect gradual improvement this year in California. Tech will be constrained, tourism will be constrained because of personal budgets.
Santa Clara County is one of the worst labor markets in the nation. While unemployment dropped slightly in November 2002, Dr. Garretty expects it to top 11 percent before beginning to come under control. This downturn causes a spillover into retailing. State and local spending is down. Productivity growth will be the source of recovery in this area. Dr. Garretty feels good about 2003. She’s an optimist.
Programs and Events
January
January 23: California State Assembly Member Joe Simitian
January 25: Progressive Dinner, 6 p.m.
January 30: "Information Security: Electronic Commerce and Security Breaches"; Harvard Law School Graduate Stephen WuFebruary
February 6: Paul Roy Ph.D. "What's Going on in Psychology Today"
February 13: Robert Fish "Story Telling"
February 20: Walter Hays "Polio Plus Project"
February 27: Silvia Hines "About the YMCA" and David Dye "About the Boy Scouts"OTHER ROTARY CLUB MEETING PLACES
MONDAY
Palo Alto: Rickey's Hyatt House, 12:15 p.m.
TUESDAY
Los Altos Sunset: The Echo Restaurant, Los Altos, 7:15 p.m.
Sunnyvale: Ramada Inn, 12:15 p.m.
Mountain View: Adobe House, Moffett & Central, Mountain View, 12:15 p.m.
WEDNESDAY
Menlo Park: Menlo Park Recreation Center, Menlo Park, noon.
Woodside/Portola: Woodside Village Church, Woodside, 7:30 a.m.
Sunnyvale Sunrise: Wild Woodys Grill, Sunken Gardens Golf Course, 7 a.m.
Cupertino: Quinlan Community Center, 12:15 p.m.
THURSDAY
Palo Alto Sunrise: Scott's, Town & Country, Palo Alto, 7:15 a.m.
Yosemite: The Ahwahnee Hotel, Noon
FRIDAY
Palo Alto University: Sheraton, El Camino, Palo Alto, 7:30 a.m.
Lake Tahoe: Harvey's Hotel, 12:15 p.m.
"Information in this newsletter is intended for the exclusive use of the members of the Rotary Club of Los Altos to facilitate the work of the club and to promote club fellowship. It is not to be used for any commercial or outside, unrelated, non-profit purposes. No publication of material in this newsletter should occur without the express permission of the club President or the Editor of the Rotator."Copyright 2003 The Los Altos Rotary Club
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