Outlook -> text file -> Excel

[ProdigyOne]

Hello,
I have e-mails that come in every day that i need to have the following happen with:

1. All e-mails in folder "Important" get saved as a text file (subject.txt)
2. All text files get then input automatically into an excel file - saved as same name as the text file - but in excel format (subject.xls)

This would all happen whenever a new e-mail drops into the "Important" folder

Anybody have ANY idea how i can accomplish this?

Let me know what questions you have if my "goal" was too vague - any help is appreciated

Thanks,
Aaron