Treasurer's Report
E-Trade has changed our account numbers. Email Leroy for the new number.
We currently have $5483 in securities and $156 in cash.
In June we received $2.08 from DIA, $2.20 from EXPD, and $2.73 from CD.
In July, we received $0.66 from DIA and $0.64 LOW.
In August, we received $0.59 from DIA and $6.60 from HET.
In September, we received $2.07 from DIA and $3.51 from CD.
Total dividends year-to-date: $41.39.
Stock Presentations
Lynn presented a review of Independence Air (FLYI)
Eight analysts follow FLYi. Six recommend selling, two recommend holding.
Stiff competition, difficult to cut costs, and insufficient cash.
32 of 35 markets overlap with United.
Jet Blue - P/E of 30, $2.5b market cap
FLYi - P/E of 2.7, $184.5m market cap
FLYi webcast on Wednesday, October 27, 2004 at 1:00 pm. Replays available on www.flyi.com.
Voted not to sell it. Will reevaluate later.
Real Estate Investment Club
Leroy attended a real estate investment club meeting. $10 cost to attend a meeting as a non-member, or $60 annual membership. Meetings normally have a speaker. This last meeting had speakers on 1031 investment exchanges. Exchange-traded funds are tax advantaged when it comes to capital gains.
Action Items
Leroy to research Netflix.