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President-Elect Scott opened the meeting reminding us that “We’re more than a club, we’re a family!”. The Pledge of Allegiance was recited led by Fred The Greeter was Paul General club announcements: Cathy reported that we still have $3,000 to $4,000 available for scholarships and they will be awarded this month. She also passed around the monthly speaker sign up sheet for next year. The Rotary International flag for 2024-2025, with its motto “The Magic of Rotary!” Fred just got back from a 2 week trip to Kauai and Maui Bruce mentioned with the passing of Jim Cunningham, he would like us to make a donation any charity of Jim's wife Dee's choosing. - He also mentioned he skied 1 million vertical feet this season. Over 1100 miles! - On 6/12 there is a volunteer opportunity to help clean 3 apartments with collective behavior Sanjay has been traveling frequently to Taiwan. His updates include: - Optimism about the growth of semi-conductors in the next 5 years - 2 Scholarships were granted to adult school students. He wants to make sure the Adult School is included in future scholarship roundtables. - Kickout will be June l/14 at Giovianni's New York Pizzeria at 1127 Lawrence Expressway in Sunnyvale, at 6 pm. Mandatory event $75 per person. Speaker: Jack Wong - Jack's daughter will be attending RYLA - Highlights from Jack's financial presentation include: - Our Rotary Endowment is up over 10%
- The market has been flat this year but tech stocks have done well
- For AI to improve, more processing speed is needed
- AI will probably slow down next year as AI companies begin charging for their services
- Investing is for the long haul not day to day
- Higher inflation is still happening in the insurance and shelter areas
- Fed should lower interest rates maybe September of this year and first quarter next year
- Unemployment will increase
- The economy will probably slow
- With the last 3 points it maybe a good time to buy bonds.
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