SAFETY-FLO BOARD OF DIRECTORS MEETING, FY 1998

Conference Room H
West Executive Building
300 Spemmins Blvd.
Otisburg, OH

9:00 a.m. Thursday, March 30, 1998

BOARDMEMBERS ACCOUNTED FOR:

Executives:

Carl Spemmins, Chairman and CEO
Lew Plunkett, Acting President
Fred Carothers, President-Elect
Neal Faley, Chief Financial Officer

Department Representatives:

Ed Kennerly, Research Director, R&D
Arlin "Arl" Sacker, Third Vice-President, Safety
Peter Spitch, Head Counsel, Legal

Elected Boardmembers:

Carl Nash, R&D
Ted Peterson, Safety
Earl Bunton, Legal
George Guff, Safety

Also Attending:

Roy Custer, Diversity Coordinator
A Union Representative (name not recorded)

           PROCEEDINGS

Mr. Spemmins: Welcome to the Safety-Flo annual meeting, 2001. Looks like we're missing a few faces. Anybody seen Pepperidge?
Mr. Plunkett: I heard he passed away.
Mr. Carothers: Last April, might've been early May.
Mr. Spemmins: Well, isn't that typical. He'd do anything to get out of a meeting. What about Wade?
Mr. Plunkett: As well, sir. Overseeing a safety trial.
Mr. Spemmins: Well, safety isn't always bread and roses. New business then? Anyone have an agenda?
Mr. Carothers: Sir.
Mr. Spemmins: Ok, here we are. Before we begin, any comments on last year's meeting?
Mr. Plunkett: I move we read the transcript of last year's meeting.
Mr. Spitch: I second that.
[Mr. Plunkett reads transcript from previous year's meeting, time: 3 hours]
Mr. Bunton: I move we break for lunch.
Mr. Guff: seconded.
[two hour break]

Mr. Spemmins: Meeting is called to order. 
Mr. Plunkett: where is everyone?

[redacted]

Mr. Faley: I'll have to get back to you on that. Does anyone know where the ledger storeroom in B-14 was moved to?
Mr. Plunkett: I'd ask Bailey about that.
Mr. Faley: He says he's not sure. 

[redacted]

Mr. Sacker: I'm not sure that would be legal.
Mr. Kennerly: Sure it's legal. Hey Spinach, is it legal?
Mr. Spitch: It is always best, from a legal standpoint, to include a mechanical override and appropriate warnings, but even then some sort of oath might be required before use.

[redacted]

Mr. Kennerly: Guff is asleep! Hey Guff!
Mr. Guff: ...

[transcript pauses here for several hours]

Mr. Spemmins: This reminds of me of Nantes in '43, fourteen of us in a PT-1, waiting for the krauts to show up.
Mr. Plunkett: Carl, we-
Mr. Spemmins: I ever tell you boys how we fixed the deck pumper on that one? With Hursley's finger stuck in the outflow tube? Ha, talk about safety. We-
Mr. Plunkett: Carl-
Mr. Spemmins: ...

[stenographer's note: see transcripts of annual meetings 1972-1997] 

Mr. Spemmins: What's left, then?
Mr. Plunkett: Custer's diversity report.
Mr. Spemmins: [pause] Well.
Mr. Bunton: Sir, I would like to recognize that it is five o'clock.
Mr. Custer: I have some charts here-
Mr. Spemmins: Roy. Why don't you polish up that report so it's ready for next year's meeting.
[all rise]
Mr. Spemmins: To what do we owe our livelihoods, our vitality, the success of our company?
All: [in unison] Perseverance! Resistance! Compliance!
Mr. Spemmins: And what truth guides us, in all our endeavours, ensuring our safety and success?
All: Safety comes second only to pride!
Mr. Spemmins: Gentlemen, see you in five years.