President’s Message: An RCI Bailout?

PRESIDENT’S MESSAGE
John L. Willers, RRC, FRCI, PE
President
“Bailout” means a rescue
from financial distress.
A list of some of the
bailouts that have
occurred in 2008
include:
• The Bear Stearns Companies Inc.
• Fannie Mae and Freddie Mac
• The Goldman Sachs Group, Inc.
• Morgan Stanley
• American International Group, Inc.
• Emergency Economic Stabilization
Act
• United Kingdom bank rescue package
• Citigroup Inc.
• General Motors Corporation
• Chrysler LLC
• Fortis Bank
RCI, Inc., is not on this list, nor will it be
for 2009 or any year in the foreseeable
future. RCI has been self sustaining for the
past 26 years, and in these days of bailouts,
I am pleased to report that RCI, Inc. is
financially sound. (However, if we could
obtain just $2.5 billion, a mere 0.357% of
the $700 billion bailout, every member of
RCI would be a millionaire!)
A measure of our stability can be seen
in the adjacent graph, which
shows our retained earnings for
the past five years, and, as a
point of reference, the high and
low Dow Jones Industrial
Averages.
RCI, Inc., is financially
sound, and its retained earnings
are safe in multiple FDICinsured
accounts. These funds
will be put to good use for the
membership. Some tasks that
are being accomplished with our
solid budget include:
1. Working diligently to finish
the Manual of Prac –
tice. We have employed
EEI Commu nications to
take technical content
written by our volunteer
technical experts and
publish a single volume
covering the Professional
Practice of Roofing, Ex –
terior Walls and Waterproofing, and
Testing and Field Practice Protocols
and Forms for the Professional
Practice of Roofing, Exterior Walls,
and Waterproofing Consulting.
2. Purchasing the complete database
software package for iMIS, which
will handle our membership and
accounting needs. This upgrade will
enable us to expand our Web site
capabilities to permit individuals to
join RCI online, and it will allow
members to pay dues, register for
conferences and educational programs,
and update their personal
information online as well.
3. Hiring an additional staff member to
address technical issues.
4. Receiving a proposal from Kellen
Communications, a firm that may
assist us in marketing RCI, Inc.
Members know what RCI, Inc.,
stands for; however, some who
might use our services may not
know what we do or= even that a
professional organization such as
RCI exists.
No bailout needed at 1500 Sunday
Drive, Suite 204, Raleigh, NC!
2 • IN T E R FA C E F E B R U A RY 2009