The most important item at the February MTM Board Meeting is the review of the prior year’s financial results to determine the MTM members’ dividend. That clearly is the most important task of the year for our MTM members. However every three years a second important task occurs at the February Board meeting. That is the election by the Board of the Board leadership. This year, after the dividend tasks were taken care of, the Board discussed and then decided on its leadership for the next three years. For the next three years, the new MTM Chairman is Joe Keppler (Shuert Technology). The Vice Chairman is Mark Mullen (Griggs Steel Company). And the Chairperson of the Board Finance Committee is Teena Kolwalski (Repair Clinic). And for the Board Marketing and Underwriting Committee the Chairman is Brad Lawton (Star Cutter). All of these leaders are experienced manufacturing business men and women and veterans of the MTM Board. These leaders give MTM continuity during these challenging times.

Before we jump in to the new leadership, I must summarize the last three years under our past Chairman, Jack Accardo (Haller International Technologies). During his three-year leadership span at MTM, our membership grew by 6%. This growth was even during a time of great struggles in the economy and manufacturing, in particular. During this same three years, under Jack’s leadership the company’s financial base grew stronger by 31%. The company’s surplus at the beginning of his leadership was $29 million, and after three years it was $38.1 million. While this financial growth occurred, the Board still approved $13 million for member dividends. I asked an outside insurance rating organization to grade MTM and they found our numbers under Jack’s leadership put us in the top 4% of our peer industry group. From a personal perspective, I can tell you Jack’s advice and outside perspective provided a wonderful sounding board, an occasional nice job and sometimes a kick in the pants. He had a great blend to push me and the management team to get outstanding results for our owner/members.

I also feel confident about the new MTM Board leadership. I congratulate Joe, who brings his 5 years as Board Vice Chair experience to the table. Mark who was first active as a Committee member, then a Board member. Mark is not bashful and brings excellent critiques, sometimes contrary views that always bring out a good discussion and finally an improved final work product. I need to also thank Teena and Brad for their continued service. They are both rock-solid managers that always bring a member’s perspective to the management team.

I remain confident that even in challenging times we have the Board leadership, full Board, Board Committees and management team to successfully support our members’ needs.

Until next time, be safe. — John