Download wic-minutes-11-30-16 - Whitman Investment Company

THE WHITMAN INVESTMENT COMPANY
Date: 11/30/16
Meeting opened: Call to Order at 12:10 by Kincaid Hoffman
Summary of today’s agenda by Kincaid Hoffman
Motion made to approve agenda by Kincaid Hoffman
Motion made to approve minutes from 11/16/16 by Kincaid Hoffman
Discussion
12:10 Motion to vote in new members
 The potential new member was Robert Colton
 The motion passed to vote him in.
12:15 The officers spoke about elections next week
 You must be a member in order to run or nominate a candidate.
 All three roles are available: CEO, CFO, COO
 CEO: In charge of running meetings, coordinating officers and the board of
trustees.
 CFO: Oversees the maintenance of financial records, executing trades,
investopedia and market updates.
 COO: In charge of attendance records, coordination of guest speakers
12:40 Tom Howe presented on Mylan
 Mylan has been active in acquiring companies as of recent
 Compound annual growth rate of generic drugs is largest in the
pharmaceutical industry, which Mylan specializes in
 The nature of HIV treatment is rapidly changing with new breakthroughs
 One acquisition is Meda, which focuses on product development
 Helps their presence in Europe, but doesn’t add R&D
 Another is Abbott Labs, of which Mylan only acquired the generic division
 Another lack of R&D acquisition
 Famy Care is based in India, focused on contraception
 Conclusions are that Mylan is banking on internationally business
development
12:45 No motion was made to purchase Mylan
Adjournment: 12:50 Kincaid Hoffman initiated the motion of adjournment. Motion
passed. Meeting adjourned.