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 JIM BRINKLEY
GIVES CHARLOTTE ROTARY A “LEGG” UP
by Matt Joyner
Jay Westmoreland introduced speaker Jim Brinkley, chairman of
investment firm Legg Mason, Inc. Brinkley joined the predecessor of
Legg Mason as its second employee in 1962 upon his graduation from
the College of William & Mary with the firm’s founder. Now,
forty-two years later, their firm manages over $300 billion in
assets and has earned kudos from Forbes magazine as one of the
best-managed companies in America. He shared with Charlotte Rotary
his thoughts on “three keys to investment and business success, the
boom, the bust, where we are now and a guide to life.”
Three keys to investment and business success: 1. Understanding
probabilities. “Uncertainty is the law of life and investing.” 2.
Asset allocation. “Where do I allocate my time and resources?” 3.
Knowing yourself and human nature. “Your emotions are your enemies;
others’ emotions are your friends.” Brinkley noted that the Oracle
of Delphi gave the advice to never be excessive and to know thyself.
In investing and in life, “Mood and emotions create opportunities.
Buy the opportunity, not the mood and emotion.”
The boom: Noting the historical rise and fall of markets on the
cycle of public pessimism, skepticism, optimism and euphoria,
Brinkley gave a panoramic history of the social factors that gave
rise to the unprecedented market boom of 1982-2000: the G.I. Bill,
the Veterans Administration mortgage, the Marshall Plan, Sputnik,
Interstate highways, the credit card, the space program, ERISA, the
breakup of AT&T, the fall of the Iron Curtain, the rise of the
Internet, Y2K-spurred investment in new computer infrastructure.
The bust: In the bust of 2000-2002 the market valuation lost an
equivalent of 85% of the Gross Domestic Product, the same percentage
as in the Great Crash/Depression of 1929-1932. By comparison the
bear market of 1973-1974 lost only the equivalent of 50% of the
Gross Domestic Product.
Where we are now: The present concerns are energy, deficits, the
Dollar, terrorism and whether or not the current economic recovery
has legs. On the positive side, the world economy is the strongest
it has been since 1984, all parts of the world are growing at the
same time, inflation and interest rates are at historic lows, the
world is more at peace than it has been in 30 years and for the
first time in world history 5 billion people are in market-driven
economies and want to trade with each other. “In America, economic
optimism is economic realism.”
A guide to life: “I believe it is not an accident of our creation
that human beings feel best when sharing, giving and caring,”
particularly with grateful recipients. Brinkley noted that Cicero
ranked gratitude as the greatest human attribute.
Charlotte Rotary is certainly grateful to Jim Brinkley for sharing
his insight and perspectives with us in this season of giving and
caring!
Head Table:
Benton Bragg, Bill Bradley,
Catherine Browning, Jay Westmoreland, Herb Harriss, Paul Solitario
Visitors and Guests:
Invocation: Harry Weatherly; Visitors &
Guests: Bob Knight; Song: Gregg Walker
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2006 – 2007 OFFICER ELECTIONS
The Nominating
Committee, consisting of the current President, the
President-Elect, the most recent two past Presidents, past
Secretary, and past Treasurer have convened and presented
the slate for 2006-2007 Officers and Directors to the
membership for vote on December 14, 2004. There being no
further nominations from the floor, the following were
approved by the membership:
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President –
Luther T. Moore
Secretary – John F. Snyder
Treasurer – Rob C. M. Thomas |
Directors
(2005-2007)
John E. Johnson, Jr.
Pender R. McElroy
Timothy E. Newman
Edward C. Ruff
Edward K. Turner
Peggy G. Wesp |
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The term
FOUR AVENUES OF
SERVICE refers to the
four elements of the Object of Rotary: Club Service,
Vocational Service, Community Service, and International
Service.
- Club Service
involves all the necessary activities Rotarians perform to
make their club function successfully.
- Vocational Service
describes the opportunity each Rotarian has to represent the
dignity and utility of one’s vocation to the other members
of the club, as well as the responsibility of the club to
undertake projects related to such areas as career planning,
vocational training, and the promotion of high ethical
standards in the workplace.
- Community Service
pertains to those activities that Rotarians undertake to
improve the quality of life in their community. It
frequently involves assistance to youth, the aged, the
disabled, and others who look to Rotary as a source of hope
for a better life.
- International Service
describes the many programs and activities that Rotarians
undertake to advance international understanding, goodwill,
and peace. International service projects are designed to
meet humanitarian needs of people in many lands. |
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There will not be a
Reporter next week. The staff/editor/publisher (that’d be
Sandy) will be enjoying a couple days off for Christmas.
þ
Alan Adler talks about ways
to enhance customer relationships in this week’s Charlotte
Business Journal. This is Alan’s second article in a series
about why customer relationships matter.
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Look for NFL Referee
Jeff Triplette at the New Orleans @ Tampa Bay game.
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Henry Sneed’s wife
Shirley,
had surgery last Wednesday.
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CPCC prez
Tony Zeiss and his
wife, Beth, joined the Mayor and others for the annual
lighting of the White House Christmas Tree.
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Thomas Moore has received a
Proclamation from the City of Charlotte, proclaiming
December 31, 2004 as Thomas Moore’s 25th Annual New Year’s
Eve Celebration for Children and Families Day.
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Club members were delighted
to sing Happy Birthday to Powell Majors, who celebrated his
98th birthday on December 12th.
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President Catherine managed
to surprise Thomas Moore and
Bert Voswinkel with a Paul
Harris Fellow in appreciation for their tireless
contributions to the club through their music and
photography. Congratulations Thomas and Bert!
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Jim Adams thanked everyone
for the fantastic support of this year’s clothing drive to
support Crisis Assistance Ministry. Over the last seven
weeks, Jim and committee made five trips for home pickups,
picked up six carloads from the Karrousel Kids Consignment
Shop (thanks to Tom and Cindy Senger), received a huge
donation from the Myers Park High School Interact group, and
countless items from the membership. Thanks to everyone on
the committee: Jim Adams, Chris
Kemper, Mark Leggett, George Thompson, and of
course, Carol Hughes.
þ
Herb Harriss reported
collections to the Salvation Army Kettle total $4200 as of
Friday, the 17th. This amount far exceeds last year’s total
collection – and there’s still a week to go. If you can’t
get by the Square, you can make your donation through the
website, at
www.ring2help.org.
þ
February 23, 2005
marks the 100th Anniversary of Rotary International. The
Rotary Club of Charlotte plans to celebrate this momentous
occasion with a birthday dinner at the Charlotte Country
Club. Details will follow….but mark you calendar NOW.
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New Member Approval |
The Classification and Membership Committee
recommend and the Directors approve for consideration for all
members, the following NEW MEMBER. Should you question the
eligibility of any nominee, please call the Rotary Office by
December 21st. You will be
contacted by a member of the Board. Otherwise, no reply is
necessary and election will proceed according to our bylaws.
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Proposed
Member
Company
Classification
Sponsor
Endorsed |
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Carlos Sanchez
BellSouth
Telecommunications, Regional
Chip Scholz
John Tabor and Tom Robertson |
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Attendance
Record |
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12/14/04 |
12/16/03 |
| visitors &
guests |
17 |
15 |
| club
members |
184 |
182 |
| total
attendance |
201 |
197 |
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Wedding
Anniversaries |
17 Malinda and Bob Freeman
19 Norma and Tom Burgess
20 Jo Anne and Fitz Dove
20 Kristi and Jerry Walters |
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New Members | Resignations |
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| Roaming
Rotarians |
Will Barnhardt, Kensington, London
Mark Leggett, Pawleys Island | |
| Birthdays and
Birthplaces |
15 Mark Pierman, Cleveland, OH
18 John Tabor, Charleston, WV
19 Ed Wadsworth, Iowa
20 Wes Clark, Morganton, NC
20 Darrell Holland, Raleigh, NC |
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