“Always remember, you have within you the strength, patience, and the passion to reach for the stars and change the world.” – Harriet Tubman – 1822-1913 – American abolitionist, political activist

 

“Gratitude makes sense of our past, brings peace for today, and creates a vision for tomorrow.” – Melody Beattie – Author

 

“All truly great thoughts are conceived by walking.” – Friedrich Nietzsche – 1844-1900 – philosopher

 

 

ANNOUNCEMENTS

(notes provided by the unconventional and unorthodox Paul Conforti)

 

Bucket Bucks this month will go to Yankee Ridge Reading Specialists.  Please send your Bucket Bucks contributions to: Lou Simpson, 1408 S Hillcrest Dr, Urbana IL 61801

On October 1st we will have an outdoor meet live and in person at Hessel Park.  See you there at 7am!

The Rotary District 6490 – Annual Conference, ROTARY MAKES MIRACLES HAPPEN!, will take place on Saturday, October 3, 2020 from 8:30am – 12:30pm. To attend the virtual conference register at www.ismyrotaryclub.org/Register/ezLink.cfm?EventID=77498719

 

PROGRAM

 

Tom Ulen introduced his colleague and friend Professor Robert (Bob) Lawless

Robert Lawless is the Max L. Rowe Professor of Law at the University of Illinois College of Law. Professor Lawless specializes in bankruptcy, consumer finance, and business law. He is a co-author of the eighth edition of Secured Transactions: A Systems Approach, a textbook on secured transactions.

 

According to Professor Lawless, 1 in 10 Americans have filed for bankruptcy at some point in their lives. There are more annual individual bankruptcies (1 million) than Federal civil court cases, gun injuries and deaths or Federal criminal defendants.

 

Bankruptcy is typically not a last-minute decision with 38% arriving at this conclusion over a period of 2-5 years, and 30% considering bankruptcy over 5 years.

 

The average ages of persons filing bankruptcy:

28% 45-54

24% 65+

22% 55-64

20% 35-44

 

Bankruptcy filings have declined in 2020. The Cares Act grants have helped reduce household debts. Other government programs have also contributed to slowing the increase.

 

Bankruptcy does not solve all financial problems, mostly just consumer debt. Tax debt, vehicle loans and housing expenses remain. One third of all bankruptcy filers continue to struggle financially.

 

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  Septh 24th Oct 1st Oct 8th Oct 15th
         
Reflection Jarrod Scheunemann Jen Shelby Charlie Smith Cary Woolard
Notetaker Perry Penwell Hodson Conforti

 

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UPCOMING SCHEDULE (with program committee member responsible listed in parentheses)

*All meetings via Zoom unless otherwise noted*

 

September 24th – Sarah Livesay, Executive Director, Grand Prairie Friends (Andrew)

October 1st – Meet at Hessel Park Pavilion

October 8th – Dr. Barbara Jones, Chair of the Urbana Rotary Peace Building Committee (Mary)

October 15th – TBD (Ondine)

October 22nd – Dr. Vik Amar, Dean, UIUC College of Law, will talk about “The Flaws of the Electoral College and How to Replace It”  (Tom)

October 29th – TBD 

November 5th – TBD (Bob)

November 12th – TBD (Cary)

November 19th – TBD (Charlie)

November 26th – No meeting – Thanksgiving

December 3rd – TBD

December 10th – TBD

December 17th – TBD