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Summary of Proceedings
EMA Board of Directors Meeting
June 23, 2008 – Las Vegas, Nevada
The EMA Board of Directors discussed the following agenda topics and took the indicated actions at its June 23, 2008 meeting, held in Las Vegas, Nevada.
1.Board Members
New Directors David Cook (Cinema Now), Alan Millican (Marquee Video and Chairman, iDEA), Eric Peterson (Blockbuster Inc.), and Todd Zaganiacz (Video Zone) were welcomed to the Board.
2.2008-2009 Officers
At the annual organizational meeting of the Board of Directors, the following were elected as officers for 2008-2009:
•Bob Geistman, Chairman of the Board
•Chuck Porter, Vice Chairman
•John Marmaduke, Secretary
•Marty Graham, Treasurer
In addition, Chairman Geistman appointed Bill Lee to an at-large seat on the Executive Committee.
3.Ratification of Minutes
The Board unanimously ratified the minutes of its April 17, 2008 meeting.
4.Membership
The Board voted unanimously to accept the 12 membership applications received between April 2 and June 1, 2008. The Association currently has 469 members.
5.Home Entertainment Events Issues
The Board reviewed Home Media Expo 2008. The Board complimented the content of the show and its emphasis on promoting Blu-ray Disc technology. It was noted that, while all the major studios were participating in the show, many exhibitors were taking smaller spaces and bringing fewer personnel than in previous years. In addition, trade attendance was projected to show a decrease.
The Board discussed various options for fundamentally reimagining the show to make it more accessible and affordable while maintaining its value for the industry. The Board instructed staff and Board members to develop a plan for rebuilding the Expo for presentation to the Board, with the direction to look at all options for format, location, and timing.
6.Digital Copy
The Board authorized staff to undertake an initiative to assist retailers in marketing "digital copy" technology to consumers.
7.Financial Report
The Board reviewed the Association's preliminary financial performance for the first four months of 2008. Trade show and dues income were both better than budget, due primarily to timing factors, and investment income was worse than budget, due to unrealized losses in the Association's investments. It was noted that stock market trends continue to present a risk for the Association's financial performance for the remainder of the year.
8.Audited Financial Statements
The Board was informed that the annual audit of the Association's 2007 financial statements has been completed and the audit would be provided to the Board in the near future. The audit opinion was unqualified and found no management deficiencies.
9.Investment Policy Statement
The Board approved a revision to the Association's Investment Policy Statement, which establishes parameters for the management of the Association's reserve funds.
10.Presentations
John G. Malcolm, Executive Vice President and Director, World-wide Anti-Piracy Operations, Motion Picture Association, made a presentation to the Board on anti-piracy initiatives.
11.Other Issues
The Board discussed federal anti-piracy legislation, other government affairs issues, and the status of iDEA's "Project Mercury" e-commerce network for independent video retailers.
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