THE SENIOR MEN'S CLUB OF NEW CANAAN
Minutes of the Regular Meeting of April 25, 2008
President Dick DePatie opened the meeting with 134 members present. Membership is 470 with no one waiting. New members Jim Rae and Peter Daniel were introduced and welcomed.
Announcements: Next week is the annual luncheon at the New Canaan Country Club. Next general meeting will be May 9TH at the FIRST PRESBYTERIAN CHURCH. Charlie Morris gave the menu for the annual luncheon, which included such delicacies as Mesquite Fired Foie Gras, Frog Legs Napolean, Roast Saddle of Aardvark, and a very rare and special Thunderbird wine. Total cost is $493 including tax and gratuity. Health Minister Bob Moylan announced that Bill Reid, Bill Kapp, and Jack Brophy were still in Waveny.
Activities: Bridge and paddle continue, chefs meet 5/15 to cook paella, golf meets 5/12 at Sterling Farms, trailblazers go to Prospect Park on 5/7, next photography session TBA, and racquetball had 2-2-0 this week.
Couth: May13 is the New Britain Museum of American Art followed by lunch at the Hawthorn Inn. Stan Stanziale and Ladd Seton were announced as the new co-chairs of the Couth Committee for 2008/9.
Humorist: Jack Messert told a story about a man's wife who opted for a new bathroom rather than letting him repair a damaged sex organ.
Speaker: Vice President Nick Zaccagnino introduced Frank Hydoski, director of Deloitte Financial Advisory Services, who spoke about the "Oil-For-Food Program." Mr. Hydoski was the chief forensic investigator of this program, which was full of corruption both on the supply side and the buying side. Also implicated in this investigation was the Asst. Secretary General of the U.N., Benon Sevan, who is now living in refuge in Cyprus. The causes of the failure of the program were corruption by Mr. Sevan and his cohorts, corruption between the Iraqi administrators and the contractors, improper administration and oversight of the program, fraudulent pricing on financial statements, and no policing of the program by member states. The country of Iraq lost between 3- to 5 billion dollars alone, just on the corruption in oil pricing. The country also lost 3- to 5 billion dollars on the overpayment of all food products. The total cost to Iraq between 1997-2003 was approximately 10.2 billion dollars. The end result was prosecution and conviction of U.N. officials, Iraqi oil executives and lobbyists. Since the scandal, the U.N. has instituted new internal audit functions and new conflict of interest rules.
Eric Musa. Asst. Secretary