Rainbow Whole Foods Grocery, Inc.

Board of Directors Meeting

(version submitted for board approval)

5:31 January 17, 2006

Board Members Present:  Luke Lundemo, Barbara Scobee, Amy Breckenridge, Karen Parker, Ann Herlihy

Absent:  Nicole Jenkins

Also present:  Bruce Fraiser.  A quorum was present.

Minutes Approved:  The minutes of the December Board of Directors meeting were approved.  .

Member Input:  There was no member input.

Managers Report:  Steve Witlow was absent.  The Board reviewed the written reports that had been previously distributed to Board Members. 

Financial Report:  Barbara Scobee distributed several financial reports for the month of December.  She reviewed our statement of cash flow, break-even analysis, and profit and loss.  She reported that all of the numbers continue to look good.  And that since the COG has been trimmed the break-even numbers look good.

There was discussion about the annual meeting.  Susan and Doc were nominated to serve on the election committee.  Susan will be the Chairman.  This was voted on and passed unanimously.

Committee Reports:

Amy presented a report from the café committee.  She said that Todd and Ellie were both present for the meeting.  Discussed changes in the bakery and that the transitions are going well.  The bakery will be one of the first areas where cost outs will be analyzed.  She also discussed various ways to advertise the café and reach groups that haven’t been targeted before.  Barbara also reported that the meeting with the consultant was extremely informative.  That he covered operations, margins and management.

Community Committee Report:  Discussion of Members Day at Rainbow.  Board members agreed to be present and greet members.

Discussion of the progress of the plaza renovation project.  Luke reported that he and Charlotte had lined the skylights with mylar and that it had definitely improved the lighting situation.

Luke passed out information about how other co-ops had managed large whole food grocery stores coming to there areas.  Discussed how personal service gives Rainbow an edge and that some of the small co-ops had actually had larger sales after the chains came into their areas.

A motion was made to adjourn.  This motion was seconded and passed.

Meeting adjourned at 7:20  Minutes submitted by Ann Herlihy