ANNOUNCEMENTS: (courteous of the unconventional and unorthodox, Paul Conforti)
Awards at the District Meetings in Effingham
[lg_image folder=”Rotary Members/” image=”johnson_larry.jpg” caption=”Larry Johnson” align=”left” display=”thumb”]
[lg_image folder=”Rotary Members/” image=”mary_hodson.jpg” caption=”Mary Hodson” align=”left” display=”thumb”]
[lg_image folder=”Rotary Members/” image=”gary_olsen.jpg” caption=”Gary Olsen” align=”left” display=”thumb”]
Larry Johnson – Rotarian of the Year
Mary Hodson – Hall of Honor
Gary Olsen – received a standing ovation for his dedication to Shelter Box, U.S.A.
Donna announced she spent the tornado hours safely at Sunsinger.
PROGRAM: An Overview of U.S. Bankruptcy Filings
Robert M. Lawless, Professor
Co-Director, Illinois Program on Law, Behavior and Social Science
Co-Director, Illinois Program on Law, Behavior and Social Science
Robert Lawless (rlawless@illinois.edu), professor of law and co-director of the Illinois Program on Law, Behavior and Social Science, specializes in bankruptcy, consumer credit, and business law. Professor Lawless has published numerous articles on these topics, most all of which use empirical methodology to better understand legal phenomena. His book, Empirical Methods in Law, written with University of Illinois law professors Jennifer K. Robbennolt and our own Thomas S. Ulen, was recently released by Aspen Publishing. In addition to a course in empirical methods, he teaches in the areas of bankruptcy and commercial law.
Professor Lawless’ program covered areas of personal bankruptcy trends from 1946 through 2010.
Average per adult debt (adjusted):
1946: $900.00
2010: $10,000
Debt is growing much faster than personal income.
Landmark (and unanimous) 1978 U.S. Supreme Court decision: Marquette Nat. Bank of Minneapolis v. First of Omaha Service Corp.
This decision profoundly changed the debt scenario in the U.S.
Bankruptcy filings per 1,000 adults:
1946: less than 1
2010: greater than 7
Age 65 and older is the largest growing segment of bankruptcy filings because people are living longer and are willing to borrow more. The average age to file bankruptcy is 42.
Divorce, job interruptions and medical expenses are the (3) primary reasons for filing bankruptcy.
Other references:
Debtor Nation by Louis Hyman
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May 10th |
May 17th |
May 24th |
May 31st |
Introductions |
Alan Chalifoux | Neal Chamberlain | Reuben Chambers | Paul Conforti |
Invocation |
Penn Nelson | Gary Olsen | Scott Paceley | Robb Patton |
Greeters |
Alan Chalifoux | Neal Chamberlain | Reuben Chambers | Paul Conforti |
Ben Mast | John McDaniel | Penn Nelson | Gary Olsen | |
Song Leader |
Larry Johnson | Dave Krchak | Benny Lapid | Han Liang |
Notetaker |
Lintner |
Conforti |
Perry |
Penwell |
Decker Weeding |
Simpson | Simpson | Simpson | Simpson |
Next Weekend |
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Decker Garden |
Simpson | Simpson | Simpson | Simpson |
Watering |