BEFORE THE CALIFORNIA STATE BOARD OF EQUALIZATION 450 N Street, Room 121 Sacramento, California REPORTER'S TRANSCRIPT MAY 25, 2010 OPENING COMMENTS RE: MS. STEEL'S MBA Reported by: Beverly D. Toms No. CSR 1662 1 1 2 P R E S E N T 3 4 For the Board Betty Yee of Equalization: Chair 5 Jerome E. Horton 6 Vice-Chair 7 Barbara Alby Acting Member 8 Michelle Steel 9 Member 10 Marcy Jo Mandel Appearing for John 11 Chiang, State Controller (per Government Code 12 Section 7.9) 13 Diane Olson Chief, Board 14 Proceedings Division 15 16 ---oOo--- 17 18 19 20 21 22 23 24 25 26 27 28 2 1 Sacramento, California 2 May 25, 2010 . 3 ---oOO--- 4 MS. YEE: Good morning, Members. We will call 5 this Board of Equalization meeting to order. And before 6 we get to the agenda, I'd just like to make an 7 announcement and it really is to -- to Board Member 8 Steel to offer your colleagues' congratulations to you 9 on your hard work and upon your graduation and earning 10 your Masters in Business Administration from the 11 University of Southern California. 12 And it's a big deal because I will tell you 13 that Ms. Steel accomplished this without any sacrifice 14 to her duties and responsibilities as a Member of this 15 Board. And it's just really remarkable. 16 Congratulations. 17 MS. STEEL: Thank you very much, all. Thank 18 you. 19 MS. YEE: And also, do you want to introduce 20 your guest who's in the audience? We do have a -- 21 someone who will be taking pictures during the course of 22 this Board meeting, without objection of the Board. 23 MS. STEEL: Well, he's making a little story 24 about me for 25 -- 24 hours of Michelle Steel. So he's 25 from Korea Daily and he's going to be with us until 3 26 o'clock today, Mr. Jin, Journalist. 27 MS. YEE: Great. Thank you very much. 28 Okay, Ms. Olson. 3 1 MS. STEEL: Just don't get nervous when he 2 starts shooting all these pictures. 3 MS. YEE: Okay. Very well. Thank you. 4 ---oOo--- 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 4 1 REPORTER'S CERTIFICATE. 2 3 State of California ) 4 ) ss 5 County of Sacramento ) 6 7 I, BEVERLY D. TOMS, Hearing Reporter for the 8 California State Board of Equalization certify that on 9 May 25, 2010 I recorded verbatim, in shorthand, to the 10 best of my ability, the proceedings in the 11 above-entitled hearing; that I transcribed the shorthand 12 writing into typewriting; and that the preceding 4 pages 13 constitute a complete and accurate transcription of the 14 shorthand writing. 15 16 Dated: June 4, 2010. 17 18 19 ____________________________ 20 BEVERLY D. TOMS 21 Hearing Reporter 22 23 24 25 26 27 28 5