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So Much Needs to Be Done An Interview with The Honorable Donald W. Riegle Jr., Chairman-Government Relations Team, APCO Worldwide Were you surprised at how deep the eco- administration don’t see the nature of that threat nomic crisis has been and do you believe the way i see it. we are well on the road to recovery? There is much discussion about the U.S. i sensed there were big problems building losing its competitiveness to emerging mar- up, but the scale of the meltdown exceeded kets, like the BRIC countries. Do you worry anything i thought would likely happen in that about the U.S. leadership position in the short span of time. world, and is it losing some of its power? the related question is, have enough things it is. some of that is a natural occurrence been done in the aftermath of that to protect in the world population where we’re four per- us against it happening again in the future? the cent of the total. but as technology, money, answer is no. the responses to date have been knowledge, and information is moved around helpful to a degree, but i don’t think we’ve fi xed virtually everywhere on the globe in real time, the underlying problems, and unfortunately, economies like bric and others are coming even this fi nancial reform bill that is sitting be- forward very rapidly because they now have fore the senate is not going to get that job done. access to the things they need to develop much more is needed, but i’m not sure there is themselves. china is a stunning example. the political appetite either in the white house they go 24/7, and right now, we’re not keep- or in congress to take the steps i’d like to see ing pace with our own internal development us take. in the united states to the degree that we The Hon. Donald W. Riegle Jr. There are those who say that while the need to in today’s global economy. it under- stimulus was needed, true recovery has to cuts our ability to project leadership around EDITORS’ NOTE Former U.S. Senator Donald Riegle come from the private sector. Do you agree? the world, because people will follow our ex- has acquired 28 years of Congressional service, 18 in Where does the remedy lie? ample based on how well we’re performing the United States Senate and 10 in the United States we have a global economy and there is no at home. in that regard, the fact that we were House of Representatives. During his three terms in way to disconnect from that. but if we want to able to elect an african american president the Senate, Riegle served six years as Chairman of talk about u.s. recovery and forward economic was a powerful signal to the rest of the world the Senate Banking Committee, as well as on the strength, we need a new national economic that our society is more open. Finance, Commerce, Labor and Human Resources, strategy for america, and you have to have the on the other hand, the united states, with and Budget Committees. He also chaired subcommit- public and private sector working together on what we’ve done in iraq, undercut a lot of our tees including Health Care, Securities, and Science that. you can’t rely on free market economics ability to be seen around the world as effective and Space. Riegle serves on the Board of Directors of in its purest form in a global economy because leaders. our infl uence has gone down, partly a New York Stock Exchange listed company. He ob- that, in itself, will not build a strong america. too because we haven’t managed our economic tained his B.A. from the University of Michigan in money and technology will migrate around the affairs; if we’re running a monstrous trade defi - Business and Economics, and his M.B.A in Marketing world in the blink of an eye. so if you’re taking cit, as we are, and we’re borrowing money from and Finance from Michigan State University while a long-term national interest perspective, you anybody around the world who will lend it to also working as a fi nancial analyst for IBM. Riegle have to have a strategy where the private sec- us as we go deeper into debt, that’s not a show spent two years completing his Doctoral require- tor kicks in full strength, and you have to have of strength. ments in Business/Government Relations at Harvard good, smart public sector decisions, as well one interesting comparison is the eco- Business School before foregoing his thesis to success- as targeted spending in investment. it comes nomic performance of america today versus fully run for his fi rst term in Congress. down to national spending priorities, and how germany, for instance, which is a country much the federal government is going to put to work more like ourselves in terms of level of advance- COMPANY BRIEF Headquartered in Washington, the resources in the broad national interest for ment and societal structure. they don’t have a D.C. and founded in 1984, APCO Worldwide the people of america. we’re not debating that trade defi cit – they have a trade surplus. why is (www.apcoworldwide.com), is an independent, em- issue today the way we need to. unfortunately, that? i don’t think we have good public knowl- ployee-owned global communication consultancy since the chance to frame these economic issues edge as to what the answers are because we’re with 29 offi ces in cities throughout the Americas, for the country so that the public becomes more not asking those questions. but it’s very risky to Europe, the Middle East, Africa, and Asia. Clients engaged in thinking about some of the choices our future to not understand why it is we have include corporations and governments; indus- we have to make as a nation, comes only once this enormous and growing trade defi cit and, in try associations and nonprofi t organizations; and every four years, we fail to come up with good, turn, this enormous foreign debt we’re accruing seven of the top 10 companies on Fortune’s Global smart national strategies. by having to borrow from abroad. 500. APCO offers services related to business, indus- the grinding down of the middle class, In light of the controversy over health try and fi nance; media, public opinion and society; which is going on, is a real danger to our fu- care reform, do you believe real reform is and government and public policy. The fi rm is also ture. unfortunately, the academic economists possible and are the issues that really need a majority women-owned business. who have great sway in our country and in this to be reformed even being addressed? 14 leaders posted with permission. copyright © 2010 leaders magazine, inc. volume 33, number 3 no, they’re not. it’s a very complex issue. we’re an employee-owned company Is it diffi cult sometimes to see the de- to get real reform is now even harder than started by margery Kraus, who was a visionary bates and wish you were still in the fray? when i was in the senate because you have then and is still one now. i have been on recent there are days like that. For example, i entrenched interests. their view of reform is, business trips to russia and china, as well as in think our trade defi cit that has gone up again reform every other part of the system but don’t the u.s., working with companies that are cut- is a clear and present danger to the future of reform my part. the obama administration de- ting edge and operating on a global scale. to america, and we need to fi x that. but you can’t cided to cut some deals with some of the key have an opportunity to work on complex busi- fi x it if you can’t sit down and take it apart. if health care constituencies, and it was very easy ness problems in a rapidly integrating global i had access to the senate fl oor again, i’d be for them to target the health insurance industry, economic system is interesting, challenging, and there every day talking about that problem, although it’s just a part of the process, and a rewarding. i want the world to do well and i partly to educate my colleagues but also as smaller part in terms of the aggregate amount want america as strong as it can possibly be to a way of educating the press who is always of the money that is being spent. maintain a good living standard and a solid way watching and the american people that might so i’m afraid the plan that has been en- of life and also be a positive infl uence around be watching. there are days i’d love to have acted is destined to not work very well be- the world to try to help other people achieve my voice and vote back in the sense that i cause it doesn’t deal with the cost drivers. those same goals. could fi ght for what i think the public interest there are two sides to that: it’s what we spend i enjoy helping companies fi gure out how requires.

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