Question-and-Answer Session
Operator
Thank you, ladies and gentlemen, we’ll now be conduction the question and answer session. (Operator Instructions). Our first question is coming from George Mahger of Private Investor (ph 00:15:07). Please state your question.
[George Mahger – Private Investor]
My name is George Mayer. There are several questions that I do have, but the one part that bothers me is the investment portfolio where so much money has been borrowed and then we invested into TSE bonds and student loans, this and that and every place except where it should have been going, into the business and I’m wondering if you’re going to go forward with that and continue that practice.
Michael Gerber
As I mentioned in my remarks and as we talked about in it in the 10-Q, we are currently evaluating all of those things. We believe it’s critical that we focus on our core mission and that will be our approach going forward and as I mentioned, we’re also looking at that investment portfolio very carefully to understand what’s there and to make decisions about how much of that we hold on to.
[George Mahger – Private Investor]
May I follow up? A second question that I do have – I don’t quite understand – you have a new Chief Financial Officer, but he’s like a sub-contractor and he’s got a contract until March. I’ve never seen that happen before, quite frankly, it scared the daylights out of me. I didn’t know whether he was somebody that shot from the hip or what are we doing or where are we going with so that we get a solid Chief Financial Officer and the progress being made in determining who will carry forward as the Chief Officer of Farmer Mac?
Michael Gerber
The board is currently in the process of – is going through the process to find and hire a Chief Executive Officer. Our approach in the interim of that was board asked me to serve as Chief Executive Officer. It was necessary for us to have a Chief Financial Officer on board to help us through this interim period. That is the position that Bill Sandalls agreed to and that’s the reason for the short-term contract.
We will be moving forward with a permanent Chief Financial Officer as part of the process.
[George Mahger – Private Investor]
Thank you very much. I’ve got a few more questions, but I’m sure I’m going to step aside here. There’s got to be other people out there to ask questions. Thank you very much.
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