· October 10, Lethbridge East Roses delivery day

· October 14, Thanksgiving, No Meeting

· October 19, Oktoberfest for the past presidents

· October 19 at Canyon Meadows in Calgary, World Community Service (WCS) workshop, cost is $25. Catch a ride with Bernie.

· October 21, Speaker TBA

· Saturday, October 26, Helen Henderson and Dennis are hosting and evening of bridge.

· October 28, Speaker TBA

· November 2 at Greenwood Inn, Calgary from 9-3:30 PM Rotary Foundation Seminar, cost is $35.

· November 4,  Dr. Tony Winder, Strokes-(Medically speaking)

· December 3, Seniors Christmas Dinner

October 7, 2002

The Vasilator presiding

Austin (Mr. Piano) Fennell played

Thanks to Rotarians who attended the Evening with Howard Cable and the Lethbridge Community Band, and/or the OFFICIAL Lloyd Hickman retirement evening.

Live Free For A Year

Our major fundraiser for the year is starting out well. Lorne Armstrong reports $51,000 dollars in prizes are in the bag, so let’s get serious. He will be selling our project on local television shortly. Other prizes to help round out the enterprise would be:

• Flying Lessons

Doug McArthur has scheduled a FRANK discussion (no pun intended he says), on “Live Free” and our Rotary Exchange Student project for October 21. Watch out Doug, you are treading on Ed Fetting’s turf. Oh well, if you let him claim to be a CA, he might let you off.

Over Dues

Unfortunately, our Nancy was not in attendance to list the members who have not yet signed a cheque for membership.

Greeter Dale Martin Jr. introduced:

Dave Irving

Mary Bochenko

Mark DeBlois

Linda Pham

Greg Wickenheiser

Richard Hebert

Don Chandler

Patrick M From Sunrise Club

Thanks to Sig Balfour who holds down the fort as Greeter until Dale arrived.

Learn More About Rotary

Bernie Carriere made last call for Rotarians attending the October 19, World Community Service (WCS) workshop at Canyon Meadows in Calgary, cost is $25. Come learn about the matching grants available from Rotary International.

Hotmail Woes

Judy Head, List Owner of the Listserve that sends messages to all club members says many Hotmail messages are being bounced back. Linda BabyDoc Storoz who recently switched to Shaw mail says the junk mail flooding Hotmail plugs the system and legitimate messages get bounced.

Interact Up And Running

Linda Pham, president of the new Interact club at Catholic Central which will charter before Xmas. She says twenty students are brainstorming ways of raising $5000 to give 25 new immigrant families Christmas hampers.

Hanski Report

Our exchange student traveled to the Crowsnest Pass where she visited Lundbreck Falls, the smallest church and the world’s largest truck. She enjoyed Frank slide, CNP history, and the Bellevue mine tour. Hanski also went hiking in Waterton with her class and got to call one Bingo game at Black Tie Bingo. Elisabeth took her to the Howard Cable night at the Yates with the Community Band. She got to practice speaking Finnish with a hockey player from Finland, and went with her next host mother, Allison Holland to the movie “My Big Fat Greek Wedding”, which she really enjoyed.

Hanski Ski

Yes, that season is getting closer, so remember to take Hanski with you to slide down mountains with boards strapped to your feet.

Mister Ed

Sergeant At Arms still feels left out of the CA club, so levied loony fines for Nancy Walker, Myles Bourke, Glen Varzari, Don Chandler and David Hughes. He is worried about rumours they may be starting an Enron club. Ed wiggled happy bucks out of Ed Nestorowich who was happy the new $10.8 million college wing is open. Robin Hood returned some money, Lloyd is happy to be a civilian and for the great evening. Linda is happy her daughter is now twenty and has only six or eight years more to support her. We have news for you Linda. Baby Docs daughter is 20? Did I write that correctly? Mark Sabourin is happy he didn’t get house painting lessons from his neighbour Ed. Helen was happy to have gone to colourful Kananaskis country. Ralph is happy Mary Bochenko is coming back to Rotary and the BBB. Bill Glover was happy to have a spare dollar. “Was” being the operative word that lost him two dollars. Tania is happy to say Georgina and baby are home and happy, and oh-yeah, the baby is a girl. Richard Austin is happy he is an accountant, not a CA, and happy he has finished painting three miles of Fence.

Myles was five dollars happy that his oldest daughter and youngest daughter have earned Masters and now the middle daughter is determined to do the same. All daughters attended U of L, and by the way. . .

Myles and Phil North invite us all to November 21 for the 35 anniversary supper at the UofL. Five past presidents will be speaking, one is on tape, so can be controlled. Donation receipts will be issued for this $100 per plate evening. Call 329-2482 to reserve your spot.

Myles Show Continued. . .

Myles introduced Mark DeBlois, “Another Accountant Ed”. Mark counts beans, audits, specializes in Owner Managed business and Not-For-Profit organizations. “Aren’t those both the same?” He is a member of three National groups, enjoys Business re-engineering, system reviews and risk analysis. He earned his bachelors at the UofL L and his CA in 1989. Best of all, he married Catherine from Pincher Creek.

During Frank’s induction, he reminded us all of our Service Above Self, our commitment to Rotary and our 60% minimum attendance requirement.

Myles Show Continued. . .

Myles introduced Steve Glover, Executive Director of the Institute of Chartered Accountants. Steve is also Past President of Edmonton Downtown Rotary. The ICAA Council is responsible for setting the strategic direction of the CA profession in Alberta, and is committed to serving the interests of the public and the profession. Council is comprised of nine members of the CA profession and three public representatives.

Steve’s first comments were that Myles might make shorter speeches if he was metrified and renamed Kilometer Bourke. His observation of a half glass of water gave him the opportunity to say optimists call it a half glass full, pessimists say it is half empty, and accountants say the glass is twice as big as it needs to be.

Restoring Confidence

In a high speed presentation, Steve showed a chart of companies responsible for lack of consumer confidence, with Enron of Texas in the middle and concentric rings encompassing many others including WorldCom and Martha Stewart.

Enron was aided and abetted by Lawyers, Bankers, financial analysts and the business press, with Arthur Anderson clearly at the core of the failure. All levels of checks and enforcement failed due to a negative shift supporting market greed.

The bubble phenomenon of the 20’s resulted in the 1929 crash. The dot coms failed because they had no earning capability.

How Do We Restore Investor Confidence?

The road to prosperity is a three lane highway that will require good navigation by Corporate management, Corporate reporting and Corporate governance. The executive, the Board of Directors and External auditors all need to take responsibility. It is the Board of Directors that reports to shareholders.

The G.A.P. gap

General Accounting Practice provides sufficient rules, but there is a need of greater enforcement. Only stable markets will bring a return of public confidence through a focus on fiduciary responsibility. The over use of stock options must be replaced with a tie to long term performance.

Governance

The CEO and the Chairman must not be the same person, and tougher questions must be asked. Audit committees must put public back into “public offering”. Steve feels there is an onus on the shareholder to be informed and to use the proxy vote to show they are paying attention. Enron was a house of cards that nobody understood and should have avoided for that reason.

Global Standards

Standards must evolve and all players must abide by rules of the road. True auditor independence must be established and they must reflect global standards and access threats. Transparency, accountability and honesty are on the road to prosperity. Change must be fueled by corporate culture and the old virtues will bring long term success instead of banking on the home run philosophy.

For more information go to www.icaa.ab.ca

Frank presented a Polio Plus certificate to Steve for his talk.

Draw

$10 Darrell Alexander and $5 Frank Vasil