Ogdensburg Bridge and Port Authority Board Meeting June 14, 2012. Part 4

(laughter) They took good photographs. And they know all those records by heart.
I know what you mean. That was in Orlando. And then when I tried to rectify it,
I was talking to a lady in Oklahoma. ho knew nothing about Orlando...
...toll business.
Well, anyway...yeah, I think that's something that
we, it could help us. It's on our list.
Thank you. It's cheaper. So any questions
about any...(unintelligible)
One question I have is...(unintelligible)
...with all these bills going out, and then they're coming
back and everything else. Are we pretty comfortable with our...
...cash flow? Are we cushioned there?
I wouldn't say comfortable, but...We're managing.
We're managing quite well. Do we have a place, say, for instance,
if we don't get paid, do we have a place that we can get some money...
that pay out? We still have the line of credit from
the bridge project. So, it's still
in place? It's still in place. And how much...can we get to
if we need to get money? I think that's...two and a half million.
How much? A two and a half million to five million dollar line of credit. So, we could go there,
if we have to. So, we've got...
access to cash, if we need it. But, like I said, we've been...we've been able to manage,
...manage the cash...
I check it every day.
You know, you can get your bank statements, online. And, I
print them every day, and put them in a work sheet, and,
know the balances, and,
manage around that. So far, I've been able to do that.
Successfully. Unless they over...over develops.
I'd make a comment, I'd make to you and our staff, is the idea that...
I'll call it a spike in the responsibilities
of the things that we need to do, I think our staff are adjusting very well
and doing a great job, trying to figure out things to...
sell. It will go back to our normal business at some point in time, but, I guess you
get the idea that, you know, when you ask for progress, it comes with...
certain extra responsibilities and type of things, and I think our staff
[has done] well. Yes. It's their great attitudes...
and a lot of hard work. Yes, it is, it is. Like for instance,
the other day, Mr. Chairman, the reason I asked that question is,
I signed a check for 800,000, cash it in...
it's...797,000. Did you give it...did you give it back? Well, that's my question.
Does that fall, does that fall here yet? Yes.
Yes, that check has cleared the bank.
No, but I mean do we get money? No. That's my question.
So, we've made a check out for $796,000. Yes.
And, we're not waiting for money to come from...wherever. Yes.
That's right. So...(interrupts) That's where, when we start talking
about the accurate software, and the importance of...making sure all the
information is correct; up to date.
On time. It's critically important, because once it's set
all I have to do is ask the question, and it holds it up. And then, the next day they can ask another question.
So, until the state is happy with - that our numbers are correct,
and that our quantities are correct, and that,
we've got all the proper signatures, in the right places, we don't get reimbursed.
So, that's what's so critical about watching that very closely.
You know, we were able to get some
...our FAA grant...
money. Some of the projects at the airport, we've got those all caught
up. And, that money comes in very quickly. Especially
if everything's done properly, and timely...and...
so, that's part of the equation. So, the question of
that other money, that we could use when we need, is there?
Yes. Absolutely. It comes with interest charges; that's what we're trying to avoid.
Like you said, you don't know what's going to happen down there, so, while it's over in this desk,
or it's over in that desk, and then when we find out that there's 84 of them there,
and we're the bottom one. That's right, and then.. (interrupts) That's happened to us. And, the
person that sits at that desk is on vacation. Yeah! (laughter)
And their replacement doesn't show up. Right. It's happened.
Very good, thanks, for this. John, you want to finish your report? Sure.
On the port side of things, in an effort to get more
wind projects, the Chairman and I went to the
American Wind Energy Industries Wind Power 2012 show,
in Atlanta Georgia. We met with...
in addition to having our own booth, and meeting a lot of interesting people
at the trade show, we had...roughly 20
meetings with the...3rd party logistics companies,
transportation firms, wind farm developers,
manufacturers, and shipping lines. So, it was a real good trade show.
I don't know if you want to add anything? Well, I want
to say...I learned a lot about the business, I learned about
...what's holding...one provision of
turbine project next...it's kind of like
investigate what you have. If you knew this year you were going to get energy credit for putting
windows in, and next year you weren't. You'd say,
what would you do, I'm going to put my windows in now. So, this project is moving forward now. So, now we're looking
at is...for political leadership at the national
level, to look at...energy credits being extended
...may happen at the end of this year, may not. It depends what the election is.
But, it seemed to me, that the...wind power
aspect of it is kind of like status quo.
Things aren't happening as far as putting monies together and projects together,
and it's kind of being really soft. That may happen...
something may happen between now and then, but 2013 does not look like a
very good year. 2014, the people
that, John, workers, trade, there was obviously optimism that
the industry would reorganize itself, some things could be happening out of that.
And, there is the interest, in the Port of Ogdensburg.
I want to tell you what, I learned a lot about...if you wait for people to come to you,
guess what? Yeah. They're not coming. And, John, I think
did a great job of looking at clients, and different aspects
of all those things...of people that we work with, who are involved
in this industry. And, we...it is a big place,
we did a lot of walking, John, didn't we? Yes. 8 hour days, 9, 10 hour days,
you know, walking, meeting people. And, I think John, you ought to be commended, John,
I want to publicly say that. There's a general concerning though, that without the wind credits, the...
federal credits, the wind projects, that they might...put a damper on
...it's not cost efficient, without this credit check. Yeah. Well, you know,
it's investing money. It's investing money, if somebody says, you know with that...if we take a
$400,000,000 project, and somebody says, right off the top, I'm going to take 80,000,000 from you...
Oh. Or, it will save 80,000,000. Oh!
I mean that really creates a whole different thing, and, how do you make up
$80,000,000. I mean, that's where the investors come in. And say, what makes sense
where we all want to be. They are paying to
political leaders, top political leaders, their representatives, and they're all for the industry,
they're all for renewable energy, and they all want this process, but,
...that energy credit thing, that "1603", they call it,
I think that's the number, I remember saying is, we're kind of set back. It's going to
drive the industry, they're going to drive it right out of business, if it doesn't stay.
Because, nobody's going to invest that kind of money, if you can't get...because that
...it's long of a term to get your money back. Yeah. That's the problem.
The manufacturers that are in the United States are talking about write-offs, and...
some of the companies are saying, you could see when the industry
drop by as much as 80% next year, if they don't have the means of that project tax credit.
We talked to a lot of different people.
And, you know, one of the things that we talked to them for, was direct drive, and new type of
wind system. So they're not loud. [We] Talked to people [who] make the blades,
they're making different blades, of different contour. They have a type of blade
and design that...
...I don't know, say, 15 miles an hour wind...flow...now,
they have a blade technology, like, much lower speed,
of wind. That the blade will still turn, even though it's just whisper of a wind.
So, that's really gearing mechanism and stuff. So,
they will move the blades. And, I asked a couple people,
you know, what's the next technology. And the
next technology is its smaller. Maybe it would have a different type of blade, that would do?
He says, "The word is bigger. Bigger."
They are going to make them bigger. Bigger blades? Bigger blades. Bigger.
And, it's like, wow! They're 180 feet now! Yeah. So,
the company we talked to, they're going to 195.
So, bigger and bigger is the aspect. The other thing
that I learned also, is, you start to look at...there's other technology
for smaller type of blades. Like, say, for us here, if you want to have
a...turbine here, that could go on your roof? Wherever
you wish to put it? Some spin this way, some are a little like...
it kind of reminds you of the old propeller blade inside of a circle?
That you direct it, and turn?
So there's a lot of things out there, that people are looking at, that they may grab, or may not grab. I mean, they have something we could even look
at ourselves. You know, whether you want to do for...(interrupts) There's a couple farms around
here, we weren't even aware of, that have their own individual...They're not
anywhere near what we see, but they're turbines. And the blades aren't like as big as
what we've seen, they're smaller scale, but they use them just to generate
because of the cost of the farms and stuff, and the electricity. And they had some
interesting maps, that tell you where the wind, consistent currents are, we talked to
the Quebec people. We did talk to them, how the water, I mean how the water,
how the wind current goes up the river. And, how, where their farms
are, so, we're right on the path. You're right on the path.
But, in the Midwest, is where the big wind is. They...
air comes over the mountains, and goes across the plains.
That's where all the money...(interrupts) I know there's a lot of hot air in the Midwest. Yeah, there is hot air in the Midwest. (chuckles)
So, it's very interesting. I really...
Wade couldn't go, because of the access road ramp, and he was
doing things, so, I said, I'd love to do it. So, I really learned a lot, I think.
I thank staff for allowing me to go, and to...
I gave my sell, and spiel too, when I was there, so, it was good.
It was really good, it was a good job for the board to be there.
Apologize, John, I'm sorry. No, it's fine. It is interesting to note that we are
actually working with some of the big names in the industry,
like Vestas, Seimens turbines are being handled, Transera,
RS Rush Logistics, (unintelligible) Lonestar, working with all...that's something.
We did get a lead while we were there...
2014 projects in Vermont.
And, reported on that. Had a meeting..
...conference call with...
Cape Vincent wind farm, we're looking at that, with the developer there.
And, making them aware of our facilities.
Had a meeting in Albany with another developer, who has a project down near (unintelligible), set in Vermont as well.
Gave a facility tour last month for potentially 2013, 14
project, that, they are leaning towards this facility, so that was positive.
We're courting (?) some transportation
equipment, that would actually take place this year. It could be as early
as July, if they fix the cargo here.
Provided a load-out
of a quote, for some additional heavy-lift cargo.
I put...4 buildings
out at the port out to RFB, and if we
can get any responses, it would be by the end of the month, that's the deadline.
Richardson Grain, is a new tenant down there, moved out their
corn from last year, and I'll be meeting with them,
either this month, or next, to talk about next fall's crop.
Steve mentioned, we've got 19 rail cars of citrus pulp,
from Poulin Grain. 1800 short tons.
It's in storage now, to (unintelligible)
We're having aerial ground photography taken for
...just to document the vessels that we've got in, it's for marketing purposes.
It's going...(interrupts) I want you to finish talking there...Okay.
Let me tell you how influential...and Wade will tell you, when we had those
pictures...with the Army Corps of Engineers in Buffalo,
and then all the sudden, you see your port, and look at 2 ships, and all of the sudden
well, that makes sense, so, that was really vital,
vital information, it really said, well, this is what it looks like,
and it does happen. So, I'll tell you what, whoever wanted that
was, with the 2 ships, that was really, really important.
It really was. It proves your point. It did prove our point.
It changes it from an academic exercise, to "here it is".
Yeah. This is what it looks like. This is the dynamics of how we have to load, unload, so...
(unintelligible)
This week and next week, working another quote for
inbound bulk cargo that's being explored by St. Lawrence County
company, that looks positive right now, that's all done in the
pricing. It would come from the Midwest, and...
by here by rail, or by truck.
DCG Corplan, and, you've heard them, we've got a lot of work to do there.
We leased 800 square feet to DeFelsko,
it's on the agenda for tonight. We have lease agreements in place for
Tulmar, and FedEx, it will be on your agenda for tonight.
Wrote 2 applications to the Northern Border Regional Commission,
one for agricultural silos at the port,
one to purchase a railroad locomotive.
Got some training on the state's consolidated funding applications,
and those grants are due July 16, we're still talking about those internally here,
what we're going to be applying for.
I attended a Montreal Manufacturing Technology Show with the IDA.
And, I'm working with the IDA on a fall Cross Border Trade event, which could
be very positive, and that would be held here in Ogdensburg, possibly in one of our buildings,
maybe at the Visitors Center.
And, I'm working on a lead also for, about 5000 square feet
of space in the industrial park, we'll see how that works out.
We're about 60% occupied in the commerce park, and about
64% occupied...
...
...
One of the things I kind of caught from the
space at the port, John, and if you want to guide this, is obviously when we
have our committees, that...
we're short a person now, I believe, but we still
have a real, I thinks a serious commitment, not all serious, but,
we've just invested in some real thinking...
process, so now we have to say to ourselves,
what are we going to do with how we're going to move this process forward. My thought is,
I'd like to...the 2 gentlemen down at the end, I'd like Doug and Steve
I'd like you 2 guys, and myself,
to be involved in this marketing committee, and look at this whole process,
and, see where we want to go next. And, create some
energy. I've got other committees we will need, but I think while I've got
this spot going now...to get you guys
to decide who wants to chair that, you can decide who wants to chair that, I don't know how or what you
guys decide, I'll be part of it. But, I just wanted to get you guys, have a lot of
experience in that regard, and I think that would be...
outstanding if you would take that leadership hold, okay guys?
I'd appreciate that. Okay, any more comments
for John? Okay.
Very good.
Roll committee reports?
Personnel Committee?
I know you met the
other day, Wade, why don't you take us through the meeting. Sure. Personnel Committee met
the other day...we had several conversations
throughout the month, resolving a personnel issue, the issues
are now resolved, the Personnel Committee met,
talked about a variety of items, including the postal and toll collector position,
which is public. Once we get the
applications in, we'll go ahead and conduct interviews per the standard
questionnaire. We'll narrow it down to the top 3 candidates, and bring the
top 3 candidates to the committee. When's that posted, and
when is that going to be advertised? It was advertised, first day it was in the paper
was Wednesday. This morning. This morning? This afternoon. I've been looking to see
if it...(interrupts) Yeah, we had to post internally first. Is that Watertown
and the Journal? Journal. Just Journal how long?
2 weeks. I wonder if we should post it in the Watertown?
I still have 287 applications just...
(interrupts) It doesn't matter how many applications we have, but I just want to make sure that it gets
up to St. Lawrence County, and Ogdensburg Journal's not doing it.
And, I just want to give everybody an opportunity to apply for it.
We'll make that change. Okay, thank you.
Anything else in personnel,
summer intern? Yes, thank you, the
summer intern was passed by the committee, and is before the
board. It's item...
item 3. Wade, was that necessary
because of all the activities at the port, to add a person for the summer?
Well, this is a combination of our summer intern, and along with some of our
staff to take a vacation. That always helps, too. We've got to be able to cover for Patty,
Tisha, and, also for members of the accounting staff.
Is that in addition to...didn't we talk before about having an
intern, is this the same position? This is the...
same thing that you and I were talking about previously, yes.
I'm assuming it's a college student, or something? Yes.
Yes, an intern, I mean we'll get to it when we get in there, but,
the term cuts off, August 24th, and that's the time we searched.
...
She got a 2 year degree from SUNY Canton, a few weeks ago, and,
is interning there...
Facilities Committee?
Up to date? Fred you want to take us through?
Well, it's a really big, Mr. Chairman, we've got quite a few things, it's...
that I'd like to be able to bring to the board, but right now, there is still
some outstanding issues, and, but everything's going smooth, it's just
getting the best, as Fred said, all the paperwork, and,
getting everything put in line. And, I want to thank staff for where we are
with the access road. That seems to be little "bubble" in how
the state wants you to do certain things, and, you know,
I think everything's going good down there on that particular issue.
We've got to get to the bottom line of...
of where it's all at with these quantities. One of the
biggest things that hit us down there, is, I'll share it with everybody,
and I don't have all the details yet, but that bog hole,
which we all knew was there. We fixed the bog hole, but
they never stopped, the bog hole never stopped. It just kept going, and going, and going.
So, I don't know all of the...
really costs of that yet, to bring back to you. But the rest of it's
good. The road is going in. The temporary road is
amazing. It's just amazing! That road is...
it's perfect for us. And, the windmills will get out of here
on time, and that's the main concern we had.
Maybe we ought to leave that road right there? (laughter) Maybe we won't have a problem
...if you can convince them! (laughter) We were there
the other day in Ogdensburg...we were going to bring that to you, but...(laughter)
we got short-changed on that one!
Was there anything ever in the contract with...you know, was there a
finish date in our contract, for the access road? Yeah.
Yeah, the access road, when you actually look in...
into the plans (interrupts)...September. (Continues) ...and know in there that everything's going to be
complete in September, and the temporary access road was part of the
original project. Yeah. That's one area that the board
is probably going to have to look at, when we get all these things done in another week or so, we might have to
have a little meeting to bring that up, tell you where we're at. But, that's one of the
areas that we've got in concern, is, we've got to
do some...we may have to shift this...
trucking out of the port. Or, somehow fix the
blacktop when it's going to go down. That's one of the areas, but, the way it
looks right now, From what we know right this minute...
we're still going to have the temporary road until the end. Right to the end, so,
everything should go. Everything should go. The contractor should
finish on time...we just keep moving windmills out.
And, the (unintelligible) have done a tremendous job for us down there.
A tremendous job down there for us. And, Tommy was...I've got to
...I want to tell you something, I don't know how old that guy is, but [when] I'd seen him pick up
the end of that steel beam...I just drove away.
Didn't want to look? (laughter) I couldn't even budge the beam, let alone pick it up! (laughter)
I know that man's got to be up in age! Tommy's "the north side of 80".
My God, I could not believe him picking that rail up. Early 80's. Got to be early 80's.
I'm telling you, I could not believe it! He's done that kind of work
for his whole life, though. That's all he's ever done. God bless him!
Not many of us who could come and pick something...I'm going to down later, and see if I can pick
it a good...(interrupts)...Inch? (laughter) I stand for you! (laughter)
You run sand down there with it, didn't you? (laughter)
(cross talk and laughter)
We also have approval of easements, that was recommended to the full board,
for a...SLIC Network Solutions.
Yes. Railroad needs to come up there...
Anything in finance report; anything? Well, we had a chance to look over the check records, dues,
and everything. Steve and I had a few questions, and Fred answered them.
Everything was in order. Thanks, Ramona.
Any unfinished business? There's not. Okay.
Scheduled here, is July 12, I see that our next meeting?
That okay with everybody?
So far?
Mr. Chairman, talking about that July 12 meeting,
since we've got the board here. Wade has talked about those documents there
that we're going to all have to go over, once we've looked them all over.
And...we need to get the whole board involved in that,
to discuss the issue, should we do that before the 12th of July?
Oh, I think we need to, I think you're right on that. Do we need to do a morning meeting,
on the 12th of July?
To be able to talk about that, and maybe take some action, if we want to, in the afternoon?
How many discussions do you want...(interrupts)...I'd have you or somebody up the whole day. I don't know if that's
...for somebody to do that. How long do you think it's going to take us?
To go through every one of those? Well, what there is, there's a rating sheet there, and...
each of you individually, you know, reads the proposals, and go
through and rate them. And then, basically,
then the room decides who do we want to bring in. For the...(interrupts) We're going to meet
in executive session on some of that. Oh, definitely. Because, that's with matters leading to appointment. Yeah.
Right. And, then we're going to need to approve, after that three,
down to the three. Yeah, the three who we're going to talk to.
Right. That's what I was talking about. Realistically,
we probably get any of the...(interrupts)...How long do you need to do that?
To sit down and go through that thing in its totality, probably about
2, 3 hours. Oh yeah. Easily.
I started into this, there's a lot of...(interrupts)...So what I was wondering is, the 12th of July is on Thursday again?
Yeah, it's a Thursday. I'm wondering if we shouldn't meet like...
you know, 10 O'clock? Get that behind us? Get that out of the way,
I should say. And then, go to our regular meeting. And, be done with it?
Rather than set up a separate date? I can't come
in the morning on the 12th. I know that. I can do...
afternoons, and the day before, bad for myself.
Do you want to do this first in the facilities committee, right? It's got to be done.
With the full board, I believe, isn't it? Well, not necessarily,
I mean, you could do it in the facilities committee and then recommend the 3
to the board, and we'll just call the 3 firms in, and have them...(interrupts) I'd rather have the
board in the whole thing, because it's a big issue there. I don't want to miss anybody.
I think you're right, and I think...(interrupts) I don't want to miss anybody.
I mean Steve might be looking at these at home, and see something, that...that we
missed, and then, Steve will say, well I kinda' got left out, there was nothing I could do.
I don't want to do that. I think it really needs to be
looked at by the board. This is important.
So, if we have a lunchtime meeting,
instead of a 3 o'clock start, have a noon start? That's fine.
It would give us 2 hours. We could have lunch.
Or, whatever, and we could carry on. So, we could do
from 12 to 3, how's that? Well, whatever it takes in the day. I mean, that's pretty serious
stuff. Well, what do you think? I'm just trying to help us. Yeah, I know, yeah.
That's not part of the regular meeting, that would be...
that would be executive session stuff, so, I mean we could...(interrupts)...We could let the press know
what we're going to do, and go over it (unintelligible) so he doesn't run down and then
he sits on the side, I just want to let him know. Right that's one of the things I was trying to say, that when we're
done...(interrupts)...We could go, maybe into the regular meeting, but, I guess we
can't...(interrupts)...That make sense...(continues)...you know if it were a regular
meeting scheduled for 12 o'clock, we could go into executive session,
then come back for the regular meeting. Correct. Then continue, rather than wait
until 3 o'clock. Steve, why don't you advertise it as
starting for the executive session, and the other meetings start immediately thereafter?
Yeah. We're thinking about 2 and a half hours, probably, to go over that
anyways. It's a good idea. You could have lunch, so, 3 hours would be good. Yeah.
Okay. Fine. So, we should be close to
2:30, 3 o'clock? That would be fine. Okay, good. Is that all right with you
Mr. Chairman? Very good, I like your thinking. (background laughter) And, what we would do, is we
will get the rest of the
copies in here, of the 9 proposals, so that way the other board members that aren't
members of the facilities committee, have both the CD, and the
proposals we're bringing today. Okay. That should do.
Okay, business items?
I've a fairly...light agenda this evening.
I will note as we go down through the agenda,
item B2 has been removed.
item B2 has been removed, just as we go through here.
Item what?
Agenda item B2, has been removed.
...
Okay, over on page
4, and agenda item A1. This is approval of an authorization
letter, municipal resolution with community backing.
We haven't seen this before, this is new.
Community Bank has changed their procedures, where wires can no longer be done
through a phone call from the office. So, what needs to happen,
is either Fred, or myself, needs to go down to
actually, physically down to the bank, each time we have a wire transaction.
Inconvenience, we're looking at alternatives
how to address that. With that being said, we need to
continue to function, and deal with the operations,
as...we presently deal with them. Let me ask you a question:
Is other banking differently done? Yes. Is this the only bank that does it this way?
This is the only one that we're aware of. This is the only bank that we
deal with, but I think other banks do it differently. That's what I'm saying,
...(cross talk - interrupts) I think other banks initiate the wire online, I believe.
What is there reason for changing the procedure? There's something coming down...(interrupts) They said that
it was...that they had experienced fraud, and so on,
and that they...just require
either initial resolution, or,
an in-person signature. Yeah. That's true. And, the thinking
was, that that was so inconvenient...right now we only do one wire a month.
Like this, for instance, like that check that you signed...
Right? I think someday we many want to wire
some of those payments. Somebody may...you know, we [may] have a contractor that
insists upon it. That's the world we live in, really. That's the world we're living in.
So, having to run to the bank every time you want to do a wire...
is burdensome, I think. Well, the thing is...
I believe there is something coming down on this, that you're going to have to...
do that. I think it's going to go the other way. I think, if you
have an online signature, in other words...
you can't get to our website, without all of the right...
passwords, and all that, that you initiated online. Oh, okay. And, that
would do it. Well, one of the things that, we were setup on this, and that's the
dangerous part of all this. What happened was, we set the separate account.
So, we know what's in that account. So, you know,
for the feds, picking their money up. Because, if they can get...into the
general account, they could take their whole account. You wouldn't even know it.
So, I don't know what's with this, but, whatever you want
to do. Community's done this for a while, because we all have...
Fred do you use Community? Use Community; gets wired, but
my office is right next door. (cross talk) Yeah, well, they actually had
me sign from, locked under their desk drawer but they make us
physically go for (unintelligible) ...and they had to sign on ours.
I sign, and it rotates it over, it's done.
But my signature's on file, because I'm on file on my account.
That's what we were doing, and they won't allow that. I was signing it,
and we were having someone deliver it to them. And they said, "No more".
I had to come in and sign it in front of them. And that's Community's...
That's their new policy. We sign because we worked with them for so long. But,
that is their new policy, and if you get a new home office,
they will make truck out there. Yeah. [We] wouldn't have to do anything, lucky. Somebody
from my office will walk across. Yeah. (unintelligible)
So, Fred, what's this resolution doing? What this resolution will do, is make it so...
I can sign it, and Jimmy Dupry can take it to the bank.
Somebody can take it to the bank. I haven't got to run to the bank and sign it. I can sign it,
and get it done. I make a motion to approve the resolution. Second. Second.
(unintelligible) Any other discussion?
An appropriate...one other...
memo, an appropriate limit needs to be set, on there,
because it's a wider limit right now. Then, the resolution is not proper in front of us?
[Is] That what you're telling me? No, the resolution is proper, we just need, your guidance on what that is.
Our recommendation is...2 and a half million dollars,
is what we would need to normally...(interrupts) So that needs to go in the resolution? No, it actually needs to go on the form.
When everything's all done. The resolution's proper in it's present form.
You just want a limit on the banks? The banks end. Yes, on the bank.
Because it should, in good practice, it shouldn't be...(interrupts) Well, that's you making that
recommendation, what you think. It's best that you know what it is.
Yeah. A hundred dollars oughta' be enough...(laughter)...
You need money left to find him in Rio, so...(laughter)...
I'd hope to get my plane ticket, I'll join you there! (laughter) Yeah. So, if there's no objection
I'd like to propose two and half million in there. Okay. That's fine. I'm interested
in...this seems to be going against...
what I'm finding with other banks, as we're doing our
auditing, and school listings, and so forth. I'm interested in why it's
headed in this direction. It seems to be taking some of the automation out of
the process. Yeah. And there's...(interrupts)...What's the use of banking anymore?...(continues)...
some classic cases of people from
out of the country, reaching into accounts, and pulling funds out. Yeah.
And, they've been combatting that, with saying,
let's have this particular machine connected to the network. This machine goes to the
bank, and it's all it's used for. Because wire transfers go to the fed.
You go from the bank's location, to the fed, from the fed, to wherever it's
supposed to be, even if it's right in, even if it's Canton. It doesn't go direct
from bank to bank. How does Paypal work? I mean, I've got a credit card, and I've got Paypal, and it's...
...the...[to] purchase an item, "I only take Paypal".
Why don't they take my American Express card without having to go through Paypal?
What is the difference?
I mean, that's really what they're saying here, because "I don't really trust you, but
I'm going to take an extra way of making sure that you go through this process, to...
make it happen". Their main (unintelligible) with the banks, is that they're
concerned about other people reaching in, taking out money. That's why a lot of the banks are
segregating...how they wire. In other words,
the computer that they may wire from, to the fed, is
hooked up to a central system. It's an independent computer, in other words, you can't
tap it, even online. You've got one line, goes to the fed. Yeah.
I know one thing it said, in my credit union, it said, "international accounts".
Don't even think about it. Don't even think about wiring money, or...
if you're buying something...don't even think about it; not going to do it. I mean...
I've been...compromised a couple times...
of people from Saudi Arabia, and...
Indonesia. (chuckles) That's because you're a high-roller.
(laughter) Huh? "Did you go to Hong Kong?" I said, I don't think so!
You know? So, something's happening somewhere...
I got a call one time, and I was on a road trip to California, my wife called me and said,
did you...somebody's using your credit card in Chicago.
I said, yeah, that was me! I was there last night. (laughter) But,
they called up and checked it. (cross talk - unintelligible)
I will tell you this, right now we do one wire a month,
for around $11,000. In there. Okay.
So, it's not really a problem for you and Wade to take care of that?
It's a problem to have to go to the bank, to do it.
But, yet...the way this resolution is, you'll be able to send Jimmy, is that what you're telling me?
Yes. Or, anyone. Or, anyone that's going
by the bank, can stop and drop it off. Like we've been doing for the last,
all while I've been here. Even though, they're dropping off what you signed. What I signed, yes.
Okay. Just makes it clear. All right, we have a motion, we have
second. Any further discussions on it? Okay, all those in favor, signify by saying Aye?
Aye. Thank you very much. On page 5,
there's approval of a lease supplement with Dan Dodge.
This is for the bridge administration building. The lease expires
September 30, 2012. 170 square feet, it would be at (unintelligible)
the rates, terms, and conditions you see before you.
Dan's been with us quite a while hasn't he? Yes.
And, the map is page 6 here.
Did we get an increase on this one? Yes. What was it?
Three percent.
He also brought in another doctor with him, at the meeting,
it's his space eventually. Are we increasing him?
No. (laughter) I make a motion, Mr. Chairman. I have a motion. Second? Second.
Second, John. Any other discussion? All those in favor signify
by saying Aye? Aye. Okay, agenda item
A3 is approval of an agreement with Penske. This is for a
summer intern. Paid in the accounting department, to cover
office staff, during summer vacations. Period would start June 11, 2012.
Through August 24, 2012.