Centennial Rotary Meeting Notes

President Roxy rang the bell at 7:35 a.m.

Announcements

• Paul H. said that our reading/literacy program at Sandburg Elementary will start soon.  He asked members to sign up for different shifts.  
• Roxy asked us to start bringing "approved" gifts for the Denver Children's Home next week.  
• Kay told us that 4 Rotarians helped with sorting at Project Cure last Wednesday evening. Some signed up and didn't show up.  
• Greg shared details about our November Club Service event, "Beauty and the Beast," at the Country Dinner Playhouse.  The evening, November 19th, begins with the doors opening at 6 p.m. The show starts at 7:30. Dress is business casual, unlike what your editor wears each Tuesday.  
• Tom B. passed around the Holiday party sign-up sheet.  He also mentioned to the Club that Mark P. is having his daughter and fellow choir-mates sing at the party.  Mark is also hosting the entire party, 19, which includes the entertainers and family members. The cost for non-members is approximately $30.  
• Frank L. celebrates his "speed limit" birthday on November 11.  
• Jennifer "skipped" around the room collecting the following "HAPPY BUCKS!!"  
• Ken H. gave $6, for his son Sean's football team's game in the State playoffs and Greg C's help in Sean's Eagle Scout project.  
• Dr. Paul gave a buck because he was happy to be there.  
• Mark G.in appreciation for the meeting with Mark P., Dan H and others to form a membership committee.  
• Mark P. for the energy and enthusiasm of young people.  His reference was to the singers and his daughter.  
• Frank L. gave massive money to recognize his birthday, the USMC upcoming birthday and because he recently wrote a check for ID theft.  His checking account was recently attacked and that check is no good.  
• Bob S. for a recent outing.  
• Randy thanked Mark G. for organizing the golf outings by giving a dollar.  
• Tex was a dollar happy for just being at the meeting.  
• Kay donated a buck in thanks for our speaker, Josh.  
• Hugh again gave money in hopes the Club members appreciate him and because he was sure that he would win the marble drawing.  He planned to use the money in Las Vegas next week.

Our speaker

Our speaker was Josh Harwood from the State of Colorado.  He spoke on the economy of our state.  He works for the non-partisan arm of the legislature, specializing in property tax and transportation funding.

Josh was a tremendous speaker and if you weren't there, you missed a great program.  Some of the highlights of his talk follow:

The Hurricanes: They have caused a blip in unemployment and boosted it to a 4 year high, along with inflation. Experts think that housing sales will drop and that the rental market, that was terrible last year, will pick up a little in 2006.

Energy:  In the late '70's the problem was shortage of supply and now, it is a demand issue.  Even though gas seems highly priced, the cost isn't as drastic to a person's budget as it was in the '70s.  This winter natural gas will be very expensive.

Colorado:  Recovery is lagging behind the nation, primarily because Colorado was affected later than the nation.  State has lost 5% of its workforce in the past year, while it was highest in venture capital spending.  Most of that money went into the high tech arena. Construction growth is up 2% and the natural gas prices will benefit the state's economy.  Colorado is a huge producer.

Local Inflation:  This stat is weighted heavily by the weak rental market and slumping housing sales.  The experts think that it will increase slightly, but stay below 3% the next couple years.

Housing Bubble:  Approximately 60% of recent mortgages are interest only.  That is very dangerous and may lead to an increase in the already high foreclosure rate.  Colorado competes with Salt Lake, Albuquerque, Vegas for new house buyers and all the other locations have lower housing prices.  Commercial rentals are flat and will continue to be the next year.

Moving Forward:  The expectation is for moderate growth next year.  The unemployment number should hit 2.6% next year, better than the national average.  Construction activity, both residential and commercial should slow.

Marbles

Tex had the winning ticket and bless him, he drew a clear marble. The $491 pot will carry over till next week.

Missing Rotarians

You know who you are, please take care and come back soon.

King Soopers Coupons!

Don’t forget to see Kent Ostedgaard for your King Soopers coupons! The club makes 4% on every dollar we spend. Coupons are available in $25 units & are sold at face value.
PLEASE REMEMBER TO BUY SOME TODAY!

Nearby Club Locations for Makeup's:

Tuesday’s:
11:45 AM – Tech Center @ Glenmoor CC
Noon – Littleton @ Columbine CC

Wednesday’s:
Noon – Englewood – Marriott Southeast

Wednesday 's:
Littleton-Sunrise
7:15AM -- Chammps Restaurant in the Aspen Grove Shooping Center on South Santa Fe

Thursday’s:
7:15AM – Denver SE/ Wyndham Hotel
Noon – Highlands Ranch @ Lone Tree CC

24 Hours: www.rotary5450.org/eclub