Statement from BetterInvesting: Alexander Filing and BetterInvesting response -
January 27, 2006

In a case pending before Oakland County, Michigan, Probate Judge Barry Grant, Warren Alexander asked the Court to appoint a committee to represent the dues-paying members of the National Association of Investment Clubs Trust and the NAIC, and also asked for attorney fees and other relief. The Trust filed a response asking the Court to dismiss Mr. Alexander's motions. (Our full response is available below.)

The Attorney General Charitable Trust Section, which has oversight responsibility for charitable trusts in the State of Michigan, submitted a statement to the Probate Court on January 4, 2006, addressing several legal issues involved in the case. On January 20, 2006, the Attorney General's office stated that it had become aware that some non-parties may have read portions of the January 4 Statement out of context, and incorrectly concluded that the Attorney General's office was supporting Mr. Alexander's specific requests for relief. The Attorney General clarified that it was the discussion of the legal issues in the January 4 Statement that sets forth the Attorney General's position.

Counsel for the Trust, and Counsel for Mr. Alexander, and for former trustee Ralph Seger filed supplemental briefs with the Court on January 20, 2006. The Court will either direct the parties' attorneys to appear for a hearing on the motions, or it will issue a decision on the motions at an unspecified future date. We maintain, as we have from the start, that Mr. Seger's and Mr. Alexander's claims are not consistent with the law and are without merit.

Supplemental Brief in Opposition to Motion for Partial Summary Judgment

This supplemental brief, filed January 20, 2006, is in oppostion to a motion filed by trustee Warren Alexander in the case brought by former trustee Ralph Seger (see item below).

Click here to download the brief - 39 pages, 2 mb

This brief, filed December 29, 2005, is in oppostion to a motion filed by trustee Warren Alexander in the case brought by former trustee Ralph Seger (see item below).

Click here to download the brief - 20 pages, 1 mb

Click here to download the supporting affidavit by BetterInvesting president Richard Holthaus - 4 pages, 180 kb

Motion for Summary Disposition of Seger Lawsuit

On July 29, 2005, the National Association of Investment Clubs Trust filed a motion for summary disposition of a petition filed by former trustee Ralph Seger. Click on the link below to download a PDF copy of the motion, along with the supporting brief, exhibits and other documents. This documentation was filed with the Oakland County (Mich.) Probate Court.

Click here to download the file NOTE: this file is LARGE - 124 pages, 5.7 mb.

Response to Crain's Detroit Business article about NAIC/BetterInvesting - July 22, 2005

Crain's Detroit Business recently ran a group of articles critical of how our association is being managed. We assure you that the Trustees and management team are operating in the best interests of the members. The Crain's articles contained inaccuracies and a number of allegations that originally surfaced upwards of 18 months ago and have been addressed by us with our members.

Click here to read the rest of the response.

"A Conversation with Eric Vaughn," Mail to the Chief - May 2005

In answer to some questions raised by our [National Investors Association (NIA) advisory] board, a conference call was scheduled with Eric Vaughn. Eric is working with BetterInvesting in writing its response to the questions raised by the Senate Committee on Finance (SCF). Eric is a long-time member of BetterInvesting and a former staffer on the Senate Committee on Finance. Eric is able to put some perspective on the questions asked by the Senate Committee.

Click here to read Mail to the Chief (PDF).

Response Letter to the Senate Finance Committee - May 16, 2005

Dear Mr. Chairman:

The National Association of Investors Corporation ("NAIC") remains fully committed to cooperating with your staff's requests for information and will continue to offer complete responses. Please find enclosed comprehensive answers and supporting documentation to the questions you submitted in your letter to me of April 14.

The NAIC believes that the substantial amount of information provided last August, as well as the supplemental discussions it has had with you and your staff during the intervening months, accurately reflects their spirit of professionalism and a desire for an open dialogue with the committee staff. Further, the NAIC is hopeful that its sincere efforts and full cooperation will allow this inquiry to come to a mutually satisfactory conclusion in the near future.

Click here to read the rest of the letter.

Statement from NAIC's BetterInvesting Management Team - April 19, 2005

On April 15, we received a second letter from the Senate Finance Committee following up on the information we provided in August 2004. We will continue to cooperate with the Committee and provide them with the additional information they have asked for in a timely manner. We continue to reassure our members that, based on reviews of our operations by our accountants and attorneys, our association is being managed in full accordance with all applicable laws and regulations governing non-profit organizations. We hope this next round of information will demonstrate clearly and convincingly to the Committee that NAIC is in full compliance, and put to rest any questions that have been raised about our operations by critics of the association's past and present management teams.

Sincerely,
NAIC's BetterInvesting Management Team

Annual Report to BetterInvesting Community - 2004

To Our Members, Volunteers and Community:

In the interest of keeping our members, volunteers and community more fully informed, we have prepared this report reviewing the National Association of Investors Corporation's (NAIC) financial results for Fiscal Year 2004 and offering some insights into our outlook for FY 2005.

Click here to read the rest of BetterInvesting's 2004 annual report.

Letter from NAIC Chairman Emeritus Thomas O'Hara - Nov. 24, 2004

Dear NAIC Community:

For some months now, I've watched several topics become growing concerns to our members. I'd like to discuss these subjects with you. I see so much good happening throughout the organization that I'm troubled to see some of our members focusing on events that distract us from our mission of creating a nation of successful investors.

Click here to read the rest of the letter.