This week at Rotary we once again heard from our own Rob Lutts, He gave an update on the Rotary Scholarship Foundation, as well as a presentation regarding markets and innovation in our economy.
As of March 1, 2024 the Scholarship Foundation Endowment Fund is well over $1.25 million. The scholarship payout from the Endowment Fund was $39,405 this year. The Endowment Fund itself started with an initial $7,000 investment by the Salem Rotary. It has grown through investment and donations. Over $478,000 in donations have been given out over these years. Rob says that the policy is to always give out 3.5% of the fund each year. Recipients will be here June 11.
In Rob's assessment, the economy is much stronger than you may have been led to believe. The United States is in a great position compared to the rest of the world. Immigration, when handled correctly, is a great advantage as more young people are what really drives economic development. As always, he gave his six themes offering great wealth creation. They are productivity tools, Artificial Intelligence, Transportation Systems, Digital Enablers- Blockchain, Battery Recycling, the Metaverse, and Energy Storage like Solar and Wind. Yes, he has SEVEN themes for his "Six Themes" section, so we all got a theme for free. Thanks Rob!
Rob reviewed the significantly increased power of chips running all of our technology, leading to computer performance to surpass human performance. Productivity is higher as a result because companies can do more than less. This new efficiency is now found in technology and manufacturing, impacting pretty much all aspects of life today.
Rob believes that the innovation cycle will accelerate, possibly a decade or longer. We can expect more digital innovation in all industries. Costs will be driven lower and company profits will grow. More industries will experience dramatic changes, specifically transportation, energy, health care, manufacturing, banking, and agriculture.
President Jen Close was proud to announce that the Salem Rotary made over $27,000 at the auction. Incoming President Carolyn Shapiro announced the Board of Directors for the next Rotary year have been chosen. Alex Sanchez will be Vice President. The writer of the Spoke promises to set a very low bar of performance for him.
Start your conference experience at 3:00 pm with Watson Adventures' Scavenger Hunt through the Museum of Science by working in teams of 6. You can create your own team of 6 or be joined with others.
At 5:00 pm when the Museum, closes we'll be escorted to a private room for hors d'oeuvres, dinner and awards. Plus a special presentation - D7930 Creating Hope in the World.
Price is $225 per person - includes parking at the museum garage, admission, scavenger hunt, food and awards. Cash bar will be available.
Register here. I look forward to seeing you there!
RYLA 2024 Applications are now live! DEADLINE APRIL 12!!
We are excited to share applications for RYLA can be found on this year’s Linktree page:
https://linktr.ee/ryla2024. This year, we are excited for the first time to join forces with District 7950 and their students and are welcoming up to five students from every town, until spots fill up.So be sure to have students apply soon!
As you begin to share applications with students, we are ready to visit any interested clubs, to share the new video and a little more about RYLA. Please
email Christina Harris, or call her at
978.270.6706. Thank you again for your support of the RYLA program!
50:50 Raffle
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