June 10, 2009 Meeting at Jim’s Buffet and Grill

By Byron Ward and Sid Riley

This week’s program was introduced by Gary Plant. His speaker was John Johnson of Harbor Financial Services. John began with an analysis of what actions in the banking, political, and investment arenas led to the downfall of the market. Then his presentation moved to a demonstration of how to invest in stocks using “puts” and “calls”. He demonstrated how with selected stocks, astute investors are able to realize good returns in futures, even in today’s shaky market.

His presentation then led to a lively discussion between the speaker and the audience over what the future holds for our economy, and what must occur before recovery begins. Many felt that this will be a long, deep recession which borders on the depression…and we have a long, slow recovery after the bottom is reached. These are all subjects which demand our attention at this time.

Meeting of June 3 at Jim’s Buffet and Grill

By Byron Ward and Sid Riley

The program this week was introduced by Dick McConahy. His featured speaker was the new Doctor in town, Dr. Chai Arunakul. Dr. Arunakul is the most recent Jackson hospital Medical Scholarship student to return to practice in Jackson County. He sees patients at his practice, Chipola Surgical Associates located on 6th Street in Marianna.

Chai holds certification with the American Board of Surgery. He completed his residency at the Greenville SC Hospital University Medical Center. He is a graduate of the University of Florida College of Medicine. He and his wife Karen have three children.

The Doctor spoke about colon cancer. His presentation explained exactly how a colonoscopy is performed, what polyps look like, and what preventive and detection approaches should be taken. He stated that colon cancer screening is very important between the ages of 50 to 75.

His pictures graphically demonstrated what cancer of the colon looked like at various stages of development. The graphics might have made some members struggle with their lunch a little bit….but the impact might have also saved some of their lives. It was a very informative presentation.

Meeting of May 27 at Jim’s Buffet and Grill

By Byron Ward
& Sid Riley

This week’s program was arranged by Marianna Mayor, Jim Wise. The program speaker was Bob Calvert, Principal and Owner of Calvert Consulting as well as the Associate Pastor of First Methodist Church in Marianna. He is Pastor elect of Greenwood and Bascom United Methodist Churches.
Rev. Calvert has extensive experience in banking, has served as President/CEO of a community bank, and has chartered 88 community banks in the last 27 years, including First Capital Bank in Marianna. He is a Certified Management Consultant.
He spoke on the existing problems and transitions which are underway throughout the U.S. He stated that FHA home loans could be the next financial disaster. Last year banks issued $180 billion of new mortgages insured by the FHA, which means they carry a 100% taxpayer guarantee. Many of these have the same characteristics as subprime loans: low down payment requirements, high-risk borrowers, and in many cases shady mortgage originators. FHA now insures nearly one of every three new mortgages, up from 2% in 2006. Taxpayer losses are mounting on FHA’s $562 billion portfolio. According to Mortgage Bankers Association data, more than one in eight FHA loans is now delinquent – nearly triple the rate on conventional, non-subprime loan portfolios. Another 7.5% of recent FHA loans are in "serious delinquency," which means at least three months overdue.
Calvert forecasts better days ahead for much of the banking sector by the end of 2009, especially for small community banks that are not on the coast.
On the local note, (no pun intended) Bob Calvert is moving from Associate Pastor at Marianna First United Methodist Church having served for five years. His last sermon in that capacity will be delivered on June 7th. He will assume the position as Pastor for the Greenwood and Bascom United Methodist Churches, delivering his first sermon in Greenwood at 9:30 AM on June 28th, followed by at 11:00 AM with is delivery at the Bascom UMC. We wish him great success as he serves those communities!