President Anne called the meeting to order by welcoming back John de Russey, then quickly called him into service leading the Pledge of Allegiance. John (sans glasses) did so happily, noting he could once again see the flag clearly.
Peter Webb commended the club’s attention to this month’s issue of the Rotarian Magazine which features two well-written articles. One deals with a Rotary-inspired public library built in Kigali, Rwanda, and the unforseen trickle-down benefits in the country that only 25 years earlier experienced one of the worst genocides in recent history.
The second article regarding “faux” news is timely in the upcoming election cycle. It offers helpful tips to verify the sources of digital information, along with specific websites that help with differentiating between news and opinion. Both are worth a read! And with that, Peter parlayed into a blessing of food, fellowship, and the continued good works of Rotary in this new decade.
Dennis Thomas introduced Assistant District Governor Janette Rabin, visiting from the San Carlos Club …. along with phantom visitor, Charles Brown from Santa Rosa. You had to come of age reading ‘Peanuts’ to catch that one.
San Mateo/Foster City Schools Superintendent, Joan
Rosas, announced that the dictionaries, which are given annually to San Mateo’s elementary school children, have shipped. A ‘Labeling Party’ is scheduled for 9:30 AM on Friday, January 24th, at the district offices, 1170 Chess Drive in Foster City. The dictionary distribution has become a joint project with the San Mateo Sunrise Club, so lend a hand if you are able.
2020 Outlook:
Nick Rogers, Senior VP with Morgan Stanley, moderated a panel of investment and real estate professionals within the club to bring their insights regarding what 2020 is likely to hold for us personally and collectively living on the Peninsula.
The lead-off hitter, Clarke Funkhouser, with 30 years of experience in commercial real estate spoke to the development boom of the past decade, which shows no sign of slowing any time soon. The driver is the continued growth of now mature tech companies (think Facebook), and life sciences companies with significant R & D needs. Obsolete commercial space of the 70’s is being demolished for housing development. The most challenged commercial spaces are those designated for retail/restaurants in the downtown corridors; tenants find profitability increasingly elusive.
“I have a plaque in my office which reads: Money isn’t everything, but it keeps the kids in touch”, quipped Bob Binn, President of Private Portfolios. With 53 years in the field of financial planning and asset management, he knows a thing or two about family dynamics! Bob pointed out that the passing of the baby boomer generation will constitute the greatest generational transfer of wealth in this country’s recorded history …. in the hundred’s of trillions of dollars. Plan for your own needs first, then consider those of your adult children and grandchildren. ‘When times are good’, he recommends, ”plan for when they are not.”
Erin Sinclair, a financial advisor with Edward Jones, sees 2020 in positive terms. Our consumer-driven economy should continue to thrive with exceptionally low unemployment and rising wages. Low interest rates along with tentative international trade agreements should continue to fuel major purchases and business expansion in the US. Globally, she anticipates an economic growth rate of 3%.
Speaking in the clean-up position, Nick reiterated that the US markets have had their best year since 1975, but he pointed out that several international stocks (Shell, Vodafone) are paying dividends at twice the rate of many US companies. Referencing the current San Mateo Rotary Foundation Committee investment strategy, Nick seeks value stocks over growth (for their dividend yields), and he sees greater opportunity in small versus large companies. He also noted that the banks, pharmaceuticals, and tech sectors are projected to show continued positive returns in 2020.
Thanks to the 2020 Outlook Panel for their expertise delivered in a coherent and enlightening fashion.
Just For Fun, can you identify the Rotarian owners of these vanity plates?
Meeting photos courtesy of Peter Webb MD
