President Don opened the September 19 meeting by welcoming everyone. Bill Kinney introduced five guests and two visiting Rotarians. The Health and Happiness report presented by Mary Mack followed. Mary reported that all of our members are in good health. President Don led us in the pledge of allegiance followed by a song led by Ed Ellis. Seated at the head table were Suzanne Bledsoe, Tony Zeiss, Ed Kizer, Tom Robertson and Ric Cannada who gave the invocation. Jim Woodward then introduced our guest speaker, Lisa Crutchfield.
     Lisa Crutchfield is a native of Philadelphia. She attended both Yale and Harvard. She came to Charlotte as VP of Public Policy and Regulatory Affairs for Duke Energy in 1997. Lisa is currently VP and General Manager of the Southern Services for TIAA/CREF.
     Ms. Crutchfield began her presentation by saying, "Who is TIAA/CREF? Well, the acronym stands for Teachers Insurance and Annuity Association/College Retirement Equities Fund. TIAA has a long history of being the premier financial institution serving primarily the education and research community.
     "As the nonprofit education field grew and changed over the years, so did TIAA. Today, TIAA/CREF has been ranked by Fortune magazine as the nineteenth largest U.S.-based company. We currently manage over $300 billion in assets.
     "We provide retirement services such as annuities and supplemental retirement accounts for employer-sponsored 401k and 403b plans, individual retirement accounts, mutual funds, tuition savings plans, investment management accounts and trust services. We also offer group life and disability insurance as well as individual life and long-term care insurance.
     "TIAA was ranked by Fortune magazine as one of the top five most admired life and health insurers in America. We are one of the few life insurance companies to receive triple-ratings from the top four independent rating agencies.
     "TIAA/CREF is comprised of three companies:

• The Retirement Services company.

• Enterprises, which provide insurance, mutual funds and trust services products.

• Shared Services, which is the entity providing support services to the other two companies.

     "The company presently employs over 5,000 people nationwide. Our headquarters is in New York City with 21 regional offices around the country. We currently have a service center in Denver, Colorado. Charlotte has been selected as the location for our second service center, which will house all of the future operations growth for our company.
     "So, let me answer the question, why Charlotte?
     "In 1997 when Congress enacted the taxpayer Relief Act, TIAA/CREF lost its tax-exempt status. This change freed the company to explore new markets and to offer its products to the public.
     "The company began to grow quickly, and knew it would need additional office space to accommodate the growth.
     "It needed a site which has:

     "A very talented team of economic developers went after TIAA. Dr. Woodward, Molly Broad, Carroll Gray, Rusty Goode and Gloria Pace King visited with TIAA's chairman John Biggs in New York and convinced him that there was no other place to be but in Charlotte.
     "And what did TIAA get for committing to Charlotte:

     "All of the company's growth will happen in Charlotte. Over the next 10-15 years the campus will hold up to 3 million square feet and house a total of 12,000-15,000 employees.
     "As you can tell, I am very excited to be a part of such a well-respected company and so pleased that they chose Charlotte as the place to locate its service center."
     At this time in the program she opened the floor for questions. When asked about the economic impact on Charlotte, Ms. Crutchfield said it would come from the jobs brought into our community.
     When asked about their interest in civic affairs, she said that they had already joined the Charlotte Chamber. Other local interests include The Museum of the New South, the United Way, and intern programs utilizing students from local colleges.
     President Don invited our guest speaker to become a member of the Charlotte Rotary.

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