ACF Miami Board of Directors
Suntrust Bank Certificate of Deposit changes
9/2/21
An email was sent to ACF Miami Board members on 9/2/21 discussing the lack of return on the $50,000 CD with Suntrust bank. This CD goes back to 2006 and the money is locked for 5-year terms with only a 10-day window to make changes every 5 years. Upon review of the last 5-year
performance, Suntrust is paying us about $195 in total interest appreciation at a 0.30% interest. The renewal CD would drop to 0.15%. Ridiculous.
After contacting my investment advisor (Joe Valenzuela of Valenzuela Financial) and the maturity/renewal date of 9/14/21, he advises a conservative approach with a couple of investment options. YTD yields are 9.42% and 2020 yields were about 8.70%. If we were investing wisely the last 15 years, there would have been significant appreciation almost doubling the initial $50k principle. Instead, we got $195.
Therefore, I requested approvals to hire the above fiduciary investment advisor with urgency to meet the current Suntrust CD maturity deadline and approve necessary paperwork to facilitate the principle transfer. The additional benefit to this move will be consistent money management thru any new ACF Miami President’s term. Additionally, any portion of the initial principle could be transferred directly to our checking account with two signatures approving it. There are no penalties like those that the bank would assess with fewer complications and hassles in any given year of need. The principle would continue to grow over time and be managed professionally.
Approval of at least 60% of the 10 current Board members has been requested in order to move forward with the above changes. 90% was achieved within 24 hours. Tom will proceed with hiring the above Fiduciary Investment Advisor. His information will be retained in the Chapter treasury records for future leadership needs.
Approved by the following ACF Miami Board members: Lisa Dorfman, Ivo D’Aguiar, Alan Lazar PP, Gordon Maybury, Christian Rassinoux, Patrick Syka, Tom Valentin, Larry Liptak PP, Tony Lauri PP
Response not received as of this date:
Rassel Gomez
* PP denotes Past ACF Miami President
**0% approval has been received as of this printing and we will proceed with the above changes to the Suntrust CD account.
Tom Valentin
President, ACF Miami Chapter
A MESSAGE FROM THE PRESIDENT
Hi everyone. With regret, I announce the resignation of Chef Rassiel Gomez CEC as Chairman of the Board of the ACF Miami Chapter. Chef Rassel has served us well and both Past President and Chairman. I have attached his letter for you to read. He will continue as a Board member for the chapter.
I also announce the re-appointment of Chef Anthony Lauri CEC AAC, as the acting Chairman of the Board. He has served in the past as President for an 8-year term as well as Chairman for as many years. He is well suited to the inner workings of our chapter and remains an active ACF member. During my Presidency he has attended our meetings, National Conventions and has judged our competitions at Johnson & Wales. I have personally known him for 20+ years.
A primary reason for re-appointing Chef Tony is to maintain two required Chapter signatory custodians on our new CD Advisory account. We should never have just one officer having access to these monies and Chef Tony has demonstrated his loyalty, trust, and involvement in our chapter.
Please join me in wishing Chef Rassiel much success in his restaurant and thank him for his years of service. Also, please thanks, Chef Tony, for stepping up in our time of need!
Thank you, Tom
Tom Valentin | Regional Vice President | Operations
CULINAIRE
Distinctive Dining & Hospitality Management
Shula’s Hotel, Steakhouse, and Golf Resort
6842 Main St
Miami Lakes FL 33014
Direct: 305.820.8142 | Fax: 305.820.8179 | t_valentin@ciemail.com
ACF Miami Board of Directors A Resignation, Rassiel Gomez
Chairman of the Board
American Culinary Federation
Miami Chapter Inc
9/10/21
Tom Valentin President, ACF Miami Chapter 1229 Rodman Street Hollywood, FL 33019
Dear Tom,
It is with disappointment that I resign my position as Chairman of the Board and Treasurer of the American Culinary Federation Miami Chapter. I make this move due to the difficulties of operating my own business during the Covid pandemic. I just cannot dedicate the time to participate and realize the Chapter needs my involvement.
I am grateful for the many friendships and memories over my years of service. I am only a phone call away and will remain a member of the chapter for years to come. For now, I hope this helps you and the Board move forward with any pressing matters. Feel free to call me if any questions arise and when you need my help.
I appreciate what you have done for the chapter and look forward to crossing paths again soon.
Thank you and wishing all of you continued success.
Regards,
Rassiel Gomez SEC) (786) 271323