COMMITTEE FOR ECONOMIC DEVELOPMENT

22003003 AANNUALNNUAL RREPORTEPORT

Trade Globalization Economy and the Federal Budget Early Childhood Education Math and Science TThehe Excellence Campaign Finance Reform BBusinessusiness Judicial Selection ooff RReformeform The Best of Business Thinking In The Nation’s Interest

2226952695 CCEDED RREPORT.inddEPORT.indd 1 55/12/04/12/04 12:06:4212:06:42 PMPM THE BUSINESS OF REFORM – IN THE NATION’S INTEREST

During 2003, the Committee for Economic Development ing retirement of the baby boom generation. CED’s work enjoyed considerable success in three important areas: was featured in two Washington Post columns by David campaign fi nance reform, universal pre-kindergarten Broder and received hundreds of mentions around the education, and the federal budget defi cit. country.

In campaign fi nance reform, the United States Supreme Throughout the year, CED also continued to promote Court upheld the constitutionality of the McCain/Fe- other domestic policy issues which are priorities for its ingold legislation. CED was specifi cally cited in the Trustees. With support from the Open Society Institute, Supreme Court’s opinion for our amicus brief and the CED pressed for reforms around the country in the way declaration by CED supporters from the business com- state judicial candidates are elected. We were proud to munity who described the problems with “soft” money. partner in this work with the Justice at Stake Coalition and the American Bar Association. Our early education work helped turn the tide in New York State to restore funding for early childhood educa- Since CED was founded in 1942, there has always been tion at a time when the governor had initially proposed a signifi cant international aspect to our policy work. eliminating all In 2003, we released funding. We were reports on the role of also active on early women in development education projects and the rationale behind in Florida, Illinois, corporate engagement and New Jersey. in public policy issues that are vital to devel- CED’s landmark oping nations. Those work on the federal budget defi cit in March 2003, and two reports complemented our 2002 report on global again in September 2003, has infl uenced the media and poverty, A Shared Future: Reducing Global Poverty, the Congress in ways that continue to shape this critical which articulated strategies that American companies debate. We were proud to have partnered on this issue could follow in addressing poverty in countries where with the Concord Coalition and the Center on Budget they have a presence. Policy and Priorities. CED Trustee and Concord Coali- tion co-founder Pete Peterson joined us for both events, With our network of counterpart organizations located and we were especially honored to share the September on fi ve continents, we produced a joint study entitled podium with CED Trustee Bill Lewis, Urban Institute Addressing Global Poverty: Perspectives of the World President Robert Reischauer, former Treasury Secretary Business Community. With contributions from our Robert Rubin, and former Senator Warren Rudman. counterpart members in Australia, China, Finland, France, Germany, Japan, Mexico, the Netherlands, Our budget report warns about the resurgence of a Spain, Sweden, and South America , we addressed long-term structural budget defi cit in the context of the issues such as foreign investment, education policy, looming demographic challenges posed by the forthcom- corporate social responsibility, and the role of women in development.

2 CED Annual Report 2003

2226952695 CCEDED RREPORT.inddEPORT.indd 2 55/12/04/12/04 12:06:4912:06:49 PMPM We remain George Rupp deeply concerned to review issues about the fraying related to Mc- consensus in the Cain/Feingold United States implementation, that supports an the role of Sec- open, free trading tion 527 politi- system. For more cal committees, than six decades, the fi nancing of CED has been the presidential a strong voice election system, championing free and ways to trade, and this strengthen the work continued Federal Elec- in 2003 under tions Commis- the leadership of CED Chairman Roy J. Bostock and President Charles E.M. Kolb. sion. We have Trustee James also launched D. Robinson, new subcommit- III who chaired our Subcommittee on Expanding World tees to consider corporate governance, job outsourcing, Trade. That group produced a policy statement entitled higher education, and tax reform. Promoting U.S. Economic Growth and Security Through Expanding World Trade: A Call for Bold CED has an ambitious and important agenda for the American Leadership, which was released on the eve months ahead. We express our deep appreciation to our of the Doha Round’s Cancun meeting in September Trustees who direct our work and to our many friends, 2003. CED’s report urged the United States to demon- supporters, and funders who sustain CED throughout strate global leadership by “going fi rst” in dismantling the year. CED’s success is the direct consequence of your our own system of export subsidies. Following the engagement with our great organization. release of this report, in November, CED sponsored a background briefi ng for key Washington-based trade reporters who met with Mr. Robinson and three former U.S. Trade Representatives: Carla Hills, Mickey Kantor, and Clayton Yeutter. Roy J. Bostock Chairman Committee for Economic Development As CED moves forward in 2004, we expect that much of Chairman (Retired) our work will help inform the American public during Bcom3 Group, Inc. this election year. Our reports on Social Security reform, the budget defi cit, K-12 education measurement and as- sessment, and globalization already touch on important issues facing the country. Charles E.M. Kolb President Our Campaign Finance Reform Subcommittee has recon- Committee for Economic Development vened under the continued leadership of Ed Kangas and

CED Annual Report 2003 3

2226952695 CCEDED RREPORT.inddEPORT.indd 3 55/12/04/12/04 12:06:5012:06:50 PMPM Economy and the Federal Budget

CED Leads on Major 2003 Economic and ciples for responsible national budget policy and stresses Budget Issues that “any tenable budget program must address the budget defi cit on every front, including both comprehen- Concern about the rising federal budget defi cit prompted sive spending reductions and alternative or additional CED to release Exploding Defi cits, Declining Growth: revenues.” Ten specifi c policy recommendations cover- The Federal Budget and the Aging of America in ing Medicare, Social Security, discretionary spending, March 2003. CED has a strong record of promoting fi scal and other budget areas are also outlined in the report. responsibility and federal budget policy with a long-term The March release of Exploding Defi cits, Declining focus. The report became a key document in the budget Growth: The Fed- debate on Capitol Hill, with the media, and among policy eral Budget and the leaders. CED and the Concord Coalition jointly spon- Aging of America sored a March 5th luncheon forum that focused on the received extensive long-term dangers of sustained, structural budget defi - media coverage, in- cits. Peter G. Peterson, President of the Concord Coali- EXPLODING DEFICITS,DECLINING GROWTH: cluding a column on THE FEDERAL BUDGET AND tion, a former U.S. Secretary of Commerce, and a CED THE AGING OF AMERICA A Policy Statement by the Research and the day of release by Policy Committee of the Committee for Trustee, outlined the work of the Concord Coalition in Economic Development the Washington Post’s advocating responsible spending policies for the federal David Broder (“The government. CED Trustee Josh S. Weston, the former CEOs’ Dim View of CEO of Automatic Data Processing, Inc., presented the March 2003 Defi cits” – March 5, fi ndings of Exploding Defi cits, Declining Growth: CED is a nonprofit, nonpartisan organization of business leaders and educators that has worked 2003) that used the for sixty years to address the The Federal Budget and the Aging of America. Both critical economic and social CED report to outline issues facing American society. Peterson and Weston urged a more responsible budget the scale of future policy and stressed the dangers growing defi cits pose for federal budget defi cits future economic growth. The report sets forth key prin- if steps are not taken now to address the problem. On Capitol Hill, several Members of Congress, both Republicans and Democrats, used the CED report in offi cial proceedings to buttress their efforts to control defi cit spending (more on the 2003 budget debate below).

Hundreds of news stories have cited CED on the budget issue since early March 2003. More than half of the top 100 U.S. newspapers (by circulation) have mentioned CED’s defi cit warning in editorials written since that time. A March 6, 2003, Financial Times story referred to CED as “a highly regarded group of business and university leaders.” That citation was typi- cal of the many references to CED during the budget debate.

Concord Coalition President and CED Trustee Peter G. Peterson speaks at the joint CED/Concord Coalition budget forum at the National Press Club. The CED Report, Exploding Defi cits, Declin- ing Growth: The Federal Budget and the Aging of America, was released at the event.

4 CED Annual Report 2003

2226952695 CCEDED RREPORT.inddEPORT.indd 4 55/12/04/12/04 12:06:5412:06:54 PMPM CED’s Efforts Impact the 2003 Chairman of the Executive Committee of Citigroup, Inc.; Congressional Budget Debate Warren Rudman, former Republican Senator from New Hampshire and Founding Co-Chairman of the Concord The struggle in Congress over the FY 2004 federal Coalition; Robert D. Reischauer, former Director of budget and a substantial tax cut proposed by the Bush the Congressional Budget Offi ce and the current Presi- Administration was perhaps the most signifi cant domes- dent of the Urban Institute; and Pete Peterson, also tic policy debate on Capitol Hill in 2003. The President representing the Concord Coalition and CED. Columnist proposed eliminating individual taxation of corporate David Broder again used CED’s budget work in his syn- dividends and accelerating other income tax reductions, dicated column on October 5th. with an estimated cost of $726 billion over 10 years. The In addition, CED released another important economic President’s plan ignited fi erce debate in Congress over report at our annual meeting in May 2003. How Econo- the impact of the long-term cost of the plan and whether mies Grow: The CED Perspective on Raising the Long- it would provide adequate economic stimulus, as the Term Standard of Living reaffi rms CED’s long-stand- White House contended. Because the Bush plan would ing support of better and more comprehensive long-term also signifi cantly increase the federal budget defi cit, there growth policies for America. CED’s Senior Vice Presi- was much debate over the signifi cance of defi cits. dent and Director of Research, Dr. Everett Ehrlich, It was in this context that CED released Exploding Defi - the principal author of How Economies Grow, outlined cits, Declining Growth: The Federal Budget and the key sections of the report at the release luncheon. How Aging of America. One of the report’s key arguments Economies Grow has been distributed to major policy is that defi cits do matter. The report takes the long view makers around the country, and to universities and busi- that widening defi cits would undermine the ability of the ness schools. government to tackle necessary reforms in Medicare and Both Exploding Defi cits, Declining Growth: The Social Security, which must take place to deal with the Federal Budget and the Aging of America and How pending retirement of the baby-boomers. Economies Grow: The CED Perspective on Raising The report caught the attention of policymakers. In the Long-Term Standard of Living are available on the Congress, Senators and Representatives from both politi- CED web site at www.ced.org. cal parties cited the CED report during the debate over the budget and tax cuts. Additionally, Dr. Van Doorn Ooms, CED’s Senior Research Fellow, the project direc- tor for Exploding Defi cits, briefed Senate staff members in mid-March on Capitol Hill.

CED Rekindles the Budget Debate

As the size of projected budget defi cits grew with each new projection issued in 2003, a follow-up budget event was held to release an update to the earlier report. On September 29th, CED and the Concord Coalition, joined by the Center on Budget and Policy Priorities, issued The November CED Trustee meetings in Washington focused on the 2004 CED agenda and featured an address by Matt new fi gures on the defi cit. CED Trustee William W. Miller, award-winning author and syndicated columnist. Mr. Lewis, Director Emeritus of the McKinsey Global Miller outlined the recommendations of his new book, The Institute, represented CED at the forum and outlined Two-Percent Solution: Fixing America’s Problems in Ways Liberals and Conservatives Can Love, and took questions on the fi scal problems the nation faces as millions of baby the fi scal challenges facing decision-makers in Washington. The boomers prepare for retirement. Mr. Lewis was joined by Two-Percent Solution proposes that for two cents on the na- a panel of high-level economic experts: Robert E. Ru- tional dollar we can have a country that offers universal health bin, former Treasury Secretary and now a Director and care, better schools, and a living wage for all Americans.

CED Annual Report 2003 5

2226952695 CCEDED RREPORT.inddEPORT.indd 5 55/12/04/12/04 12:06:5712:06:57 PMPM 2003 CED Annual Meeting – Awards Dinner

CED Honors the Best of Business Thinking in the Nation’s Interest

The Gala Awards Dinner held at the Waldorf-Astoria Hotel in New York City, which drew more than 200 guests, capped the 2003 CED Annual Meeting. CED’s Corpo- CED honored Trustee Roderick M. Hills, Partner, Hills & rate Citizen- Stern (shown here with his wife, Carla Hills, Chairman & ship award was CEO, Hills & Co.) by presenting him with CED’s Trustee presented to Leadership Award. Mr. Hills has had a distinguished career Herbert Al- in the private sector and in public service. He has served as lison, Jr., the Chairman of the Securities Exchange Commission, Counsel Chairman, Presi- to President Ford, and has taught at several prominent uni- dent, and CEO versities. Mr. Hills was recognized for his outstanding lead- of TIAA-CREF. ership at CED for developing projects on regulatory reform, TIAA-CREF legal reform, judicial selection, and corporate governance. was recognized for their high corporate stan- dards, leadership in providing fi - nancial services to a wide range of Americans, and for their strong com- munity support. Past recipients of the Corporate Citizenship Award include Guardsmark Inc.; Automatic Data Processing, Inc.; The Chase Manhattan Bank; First Chicago NBD Corp.; Merck & Co., Inc.; Nortel Networks; and Pfi zer.

A new addition to the May annual meetings this year was an orientation seminar for 40 new CED Trustees. The seminar included sessions on ways Trustees can benefi t from involvement with CED projects and how Trustees can use their unique business skills to advance CED’s policy agenda.

Former North Carolina Governor James B. Hunt, Jr. accepted CED’s 2003 Excellence in Public Policy Award and spoke about the importance of investing in early childhood education. Gov. Hunt continues to work with CED on promoting pre-kindergarten education and fi nd- ing ways for states and communities to fund this vital service. University of Miami President and CED Trustee Donna E. Shalala presented the award to Gov. Hunt.

The luncheon also featured a lively panel discussion on the topic, “Economic Recovery: When?” by a panel of leading economists (pictured left to right); Stephen Roach, Chief Economist, Morgan Stanley; John Lipsky, Chief Economist, JPMorgan Chase; Gail Fosler, Chief Economist, Conference Board; and James Glassman, American Enterprise Institute.

6 CED Annual Report 2003

2226952695 CEDCED REPORTREPORT CX.inddCX.indd 6 55/14/04/14/04 9:40:109:40:10 AAMM Trade

CED Joins Trade Policy Debate trading system. Most importantly, the statement calls for CED Trustee James D. Robinson, III, Co-Founder & a strong U.S. leadership vision to move world markets General Partner of RRE Ventures, led a fall 2003 effort towards a truly open trading system. Specifi c steps out- to urge the United States to adopt bold steps to improve lined in the statement include: world trade. Mr. Robinson, who chairs the CED Sub- • reforming agriculture and expanding market access, committee on Expanding World Trade, joined three former U.S. Trade Representatives (USTRs) at a CED- • eliminating tariffs and non-tariff barriers in manu- sponsored November briefi ng for the trade press. Carla facturing, Hills, Mickey Kantor, and Clayton Yeutter – all • lowering barriers and expanding trade in services, former USTRs - discussed in detail the collapse of the and World Trade Organization’s • maintaining an open trading system. Cancun talks in September The “International Policy” section of CED’s home-page, and up-coming www.ced.org, has the full text of Promoting U.S. Eco- opportunities for nomic Growth and Security Through Expanding the U.S. to help World Trade: A Call for Bold American Leadership, get the current as well as an editorial letter, “Only U.S. Leadership Can “Doha Round” of Replace Culture of Small Steps and Take Trade Talks to WTO talks back a Higher Plane” written by James D. Robinson, III and on track. These published by the Financial Times on September 2, 2003. three top trade offi cials have also publicly endorsed the goals of CED’s policy statement, Promoting U.S. Economic Growth and Security Through Ex- panding World Trade: A Call for Bold American Leader- ship. Two other former USTRs, William Brock and William Eberle, as well as former U.S. Treasury Secretary Robert Ru- bin, have also publicly endorsed the CED trade statement. The September 2003 statement urges the United States to “go fi rst” in eliminating trade barriers as the best route to a truly open global

Three former USTRs take part in CED’s briefi ng for the trade press. Left to Right: CED President Charles Kolb, Mickey Kantor, Carla Hills, Clayton Yeutter, and CED Trustee Jim Robinson, III.

CED Annual Report 2003 7

2226952695 CCEDED RREPORT.inddEPORT.indd 7 55/12/04/12/04 12:07:0812:07:08 PMPM Math and Science Excellence

Math and Science Education Receives ing and promoting innovation-led economic growth in Boost From CED the coming decades. Learning for the Future calls for implementing a strategic plan that will increase student demand for and achievement in mathematics and sci-

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Globalization

National Globalization Debate Led by CED and Hewlett Foundation

As the debate over the benefi ts and drawbacks of global- ization continues, CED has been actively encouraging business and government leaders in the developed world to become more involved in reducing poverty worldwide.

In 2003, CED released two updates to its 2002 report, A Shared Future: Reducing Global Poverty: Engag- ing the Global Enterprise recommends that U.S.-based enterprises strive to act with the same high standards of corporate engagement in all countries in which they op- erate, and The Role of Women in Development recom- mends that U.S.-based business should support the equal status of women in all their practices and programs in developing countries. Steffen Palko, CED Trustee and Vice Chairman and President of XTO Energy, Inc., speaks at the Dallas Globalization Forum. With the generous support of the William and Flora Mr. Palko noted: “Globalization has raised incomes worldwide Hewlett Foundation, CED hosted a series of community and has, in fact, reduced poverty.”

8 CED Annual Report 2003

2226952695 CCEDED RREPORT.inddEPORT.indd 8 55/12/04/12/04 12:07:1212:07:12 PMPM Dr. Elizabeth Kiss, Director of Duke University’s Kenan Institute globalization “town-hall” forums for Ethics; Rex Adams, Professor across the country. These activities of Business Administration at the Fuqua School of Business, Duke were part of the Hewlett Foun- University; and Nancy Wysen- dation’s Americans in the World ski, President/CEO of EMD Phar- initiative. maceuticals, speak at the Durham Globalization Forum. The three CED co-hosted the fi rst forum in discussed the ethical challenges of globalization and ways to pro- Dallas, Texas, with Trustee Stef- mote American job growth while fen E. Palko, Vice Chairman & encouraging high standards of President of XTO Energy, Inc., the corporate engagement. Greater Dallas Chamber of Com- merce and the Fort Worth Cham- ber of Commerce in August 2003. Mr. Palko provided the keynote address and spoke about the need for “more democratic forms of government in developing nations.” Discussing CED’s report, Palko also noted the need “for an eradication of corruption and a dramatic increase in investment in education, health, and other forms of hu- man development, things which were absolutely critical to the United States being a successful nation.”

In September, CED collaborated with Trustee Dr. Gordon Gee, Chancellor of Vanderbilt University, on a Nashville, Tennessee, forum. Discussing the role of the university in encouraging informed discussion, Chancel- lor Gee noted that, “as a university president, as chancel- lor and a promoter of education, I look forward to the opening to democracy that globalization can and will bring. But all of us also know that just as the globaliza- tion of information will increase democracy, it may just as easily lead to the homogenization of world cultures and the irretrievable loss of unique cultural identities.” CED Trustee and Vanderbilt University Chancellor Gordon Gee leads the Nashville Globalization Forum. Chancellor Gee, CED Trustee Edmund B. Fitzgerald, retired Chairman in his keynote address, said, “We can use the ideas a university and CEO of Nortel Networks, provided the welcoming forges at such a great rate to promote health and well-being all remarks, while Trustees James S. Beard, President, over the world.”

CED Annual Report 2003 9

2226952695 CCEDED RREPORT.inddEPORT.indd 9 55/12/04/12/04 12:07:1612:07:16 PMPM Globalization man Trask, Executive Vice President, Duke University; and a keynote address regarding drug importation by Robert Ingram, Vice Chairman, Pharmaceuticals, Caterpillar Financial Services Corporation, and Dr. GlaxoSmithKline. Durham Mayor Bill Bell provided Linda M. Distlerath, Vice President, Global Health closing remarks. Policy, Merck & Co., Inc., served on the panel. In addition to the two 2003 policy updates, CED, along CED joined forces with Duke University and the with several of its International Counterparts, released Durham Chamber of Commerce to organize the Addressing Global Poverty: Perspectives of the World fi nal forum held in November at Duke University. Business Community. The report includes recommenda- The discussion brought together a mixture of views tions by individual Counterpart Organizations regarding from both academia and business. The Research policy areas that have the potential to alleviate global Triangle Park-based audience heard remarks from poverty. Key recommendations include removing trade a panel that included CED Trustee Rex Adams, barriers worldwide, improving working conditions for Professor of Business Administration at the Fuqua women, and pursuing responsible corporate social poli- School of Business; Nancy Wysenski, President & cies. CED’s globalization reports can be found on the CEO, EMD Pharmaceuticals; CED Trustee Dr. Tall- CED web site at: www.ced.org.

Early Childhood Education

CED and Early Childhood Education – A York, Chicago, Hartford, Harrisburg, Syracuse, Albany, Year of Advocacy Orlando, and Washington, D.C.

In conjunction with our 2003 Annual Meeting and Throughout 2003, CED continued its national effort to Awards Dinner, CED hosted a breakfast meeting in New build awareness and support for early childhood educa- York City which included a panel discussion on early tion. Since the 2002 release of Preschool for All: Invest- education. Roy Bostock outlined CED’s role in the ing in a Productive and Just Society, CED has become early education debate, and drew attention to the high- part of a growing, broad-based coalition of Americans stakes nature of this issue. Speaking to a group of 80 who believe that access to free, high quality prekinder- business leaders, early education advocates, and policy garten will greatly benefi t our children and society. makers, Mr. Bostock said, “It is certainly clear, from a Through a multi-faceted approach, CED Trustees are business point of view, that investing in early education having an impact on the national debate. Thanks to the should be the new national imperative. It is absolutely generous support of The Pew Charitable Trusts, CED critical. Early education lays the foundation for later continues to host and participate in early childhood edu- learning, for school readiness, for interpersonal skills. cation events, meet with local, state and federal elected Prekindergarten reaches children at the critical moment, offi cials, and reach out to the media on this issue. CED as their brains are developing, helping them to reach Chairman Roy J. Bostock, along with CED President their full potential. Supporting universal prekindergar- Charles E. M. Kolb, have led CED’s efforts and have ten is then not just the right thing to do, it is the smart logged many miles bringing CED’s Preschool for All thing to do.” Panelists included CED Trustee John report to diverse audiences of business, policy, and aca- Brademas, President Emeritus of New York University; demic leaders around the country. CED has been encour- James B. Hunt, Jr., former Governor of North Carolina; aging and infl uencing the discussion on the importance Dr. Augusta Kappner, President, Bank Street College of investing in early education in cities such as New of Education; Nancy Kolben, Director, Child Care Inc.,

10 CED Annual Report 2003

2226952695 CCEDED RREPORT.inddEPORT.indd 1100 55/12/04/12/04 12:07:2412:07:24 PMPM Despite a diffi cult economy, CED continues to play a collaborative role in a number of key states. New York State’s renowned prekindergarten program, established in 1997, faced extinction during the 2003 budget debate in Albany. Reaching out to policy leaders at the state capital, CED leadership participated in a “lobby day,” which consisted of meetings with several state Senators, Members of the Assembly, and key members of Governor Pata- ki’s administration. After tireless efforts by many advocates, funding was fully restored. In Illinois, where CED has been working closely with Chicago Metropolis 2020, Governor Blagojevich’s leadership recently helped secure a $30 million increase in the Early Childhood Block Grant Program. Despite the CED President Charles Kolb (left) thanks Joel Klein, Chancellor, New York City Department of Education, for his remarks on prekin- tight budget climate, the Illinois Legislature was dergarten issues at the CED early education forum held at the New able to ensure that funding was not only main- York City offi ces of TIAA-CREF in January. tained but also increased.

Center on Early Care and Education (CECE); and Donna Since its release, Preschool for All has played an impor- E. Shalala, President of the University of Miami, also a tant role in the ongoing national conversation on the CED Trustee. importance of investing in high quality early childhood education. CED is currently sponsoring a campaign ask- Working with the Florida Children’s Campaign, Florida ing business leaders across the country to endorse the Success-by-6, the Trust for Early Education, and the Preschool for All report. Over 200 business leaders have Early Childhood Initiative Foundation, CED co-hosted added their names in support of this endeavor. To join a business focus group meeting in December 2003. The the growing list of supporters, contact Christine Ryan at focus group was designed to test key messages and ap- 202-296-5860 x.29 or [email protected]. proaches in mobilizing Florida business leaders around the implementation of the universal prekindergarten state constitutional amendment. Or- lando Mayor Buddy Dyer participated and gave welcoming remarks.

In January 2003, Joel Klein, Chancel- lor of the New York City Department of Education, addressed CED Trustees, other business leaders, and education professionals at an early education forum held at the headquarters of TIAA-CREF. In addition, CED Trustee Bertram Scott, President of TIAA- CREF Life Insurance Company, provid- ed opening remarks. The timing of the event was crucial in that it coincided with a budget debate in Albany that threatened to eliminate the funding CED Chairman Roy Bostock (right) joined (from left to right) Elaine Zimmer- for New York State’s prekindergarten man, Executive Director, Connecticut Commission on Children; Robert Mantilia, program. Vice President, JP Morgan Chase Bank; and Laura Lee Simon, Former Chair, Connecticut Commission on Children at the May 29th 2003 Hartford early educa- tion breakfast.

CED Annual Report 2003 11

2226952695 CCEDED RREPORT.inddEPORT.indd 1111 55/12/04/12/04 12:07:2412:07:24 PMPM Campaign Finance Reform

Campaign Finance Reform – 2003 Update

The Bipartisan Campaign Finance Reform Act of 2002 United Airlines; and Alan Hassenfeld, Chairman of (BCRA) took effect on November 6, 2002. Through its Hasbro, Inc., also provided depositions in support of the policy statement, Investing in the People’s Business: campaign fi nance reform law. A Business Proposal for Campaign Finance Reform, CED’s efforts fi gured prominently in the court’s fi nal CED played an important role in the passage of this decision. The Memorandum Opinion of Judge Collen sweeping new law, which overcame signifi cant legal chal- Kollar-Kotelly - who voted to uphold most of the law’s lenges in 2003. provisions - cited CED’s October 2000 survey of corpo- On May 2, 2003, the federal judicial panel hearing the rate executives as proof that most large campaign dona- lawsuit challenging the law (McConnell v. FEC) issued tions are given because donors feel pressured by lawmak- a mixed ruling, upholding some portions of the law ers to contribute and/or donors are attempting to buy and striking down others. CED was active in helping to access to lawmakers through their donations. The Brock, preserve the basic tenets of the new law. CED fi led an Greenwald, and Hassenfeld depositions were also cited amicus brief supporting the defendants in this case, and throughout the opinion. CED President Charles Kolb was deposed as a witness Under expedited review procedures required by the law, for the defense. CED Trustees William Brock, Chair- the U.S. Supreme Court heard an immediate appeal of man of Bridges Learning Systems, Inc. and a former the ruling. On December 3, 2003, the Supreme Court is- U.S. Senator and Chairman of the Republican National sued a landmark ruling in McConnell v. FEC that upheld Committee; Gerald Greenwald, Chairman Emeritus of all the major provisions of BCRA. CED played a central role in this ruling as well. CED, along with Warren Buf- fet, CEO of Berkshire Hathaway, Inc., and other promi- nent business leaders, fi led an amicus brief before the Supreme Court defending the law. The Supreme Court’s majority opinion, authored by Justices John Paul Stevens and Sandra Day O’Connor, cited CED’s amicus brief as evidence that corporate donations to political campaigns often are intended to buy access to politicians or to pro- tect against legislative reprisals.

CED is continuing its work to ensure that the law is properly enforced and heeded. CED is currently work- ing on a follow-up policy statement to Investing in the People’s Business. The new report will address major unresolved issues such as reforming the Federal Election Commission and strengthening the presidential public fi nancing system, addressing the new role of so-called “Section 527” political organizations, and recommending ways to encourage the participation of smaller “hard” dollar contributions.

12 CED Annual Report 2003

2226952695 CCEDED RREPORT.inddEPORT.indd 1122 55/12/04/12/04 12:07:3112:07:31 PMPM Judicial Selection/Legal Reform

CED Joins Legal Reform Efforts CED Partners with Others to Improve Judicial Selection

In a relatively short period of time, CED has become a leading voice in the movement to reform the manner in which state and local judges are chosen. CED’s 2002 policy statement, Justice for Hire: Improving Judicial Selection, found that the methods which many states use to select judges to serve, at the very least, give the appearance that judges are improperly infl uenced by the interests that helped get them on the bench. Specifi cally, the report found that judicial elections seriously under- mine the independence and impartiality of the judiciary. CED has worked with national organizations such as the

Justice at Stake Campaign, the American Bar Associa- CED joined other legal reform advocates at an Early Offers tion, and the Reform Institute on this issue and has also Forum held in May. The bi-partisan group supported the been very involved in key states such as North Carolina, 2003 state-based effort proposing a change in rules govern- New York, Texas, and Illinois. ing the contingency fees charged by lawyers in “early offer” settlements in personal injury cases. The proposed change would reduce the fees received by lawyers in these situa- In March, CED Trustee W. Mark Lanier hosted a lunch tions, reduce court congestion, and increase the incentive to in Austin, TX, designed to start a dialogue with state settle rather than litigate certain liability claims. The Early legislators, judges, and business leaders on methods of Offers Forum included members (left to right): Charles reforming the way judges are selected. Texas Supreme Kolb, CED President; Jeffrey O’Connell, the Samuel H. McCoy II Professor of Law at the University of Virginia Court Justice, Tom Phillips, provided the keynote ad- School of Law; Michael J. Horowitz, director of Hudson dress to over 100 attendees. Institute’s Project for Civil Justice Reform and Project for In- ternational Religious Liberty; Philip K. Howard, Founder and Chair of Common Good, Vice Chairman of Covington & Burling; Jeffrey A. Rosen, litigation partner at Kirkland & Ellis; and Derek C. Bok, Professor, Harvard University, JFK School of Government. A Look Forward - CED’s 2004 Policy Agenda

CED will continue to be a leading voice for sound campaign fi nance reform and will focus on topics such as policies that benefi t American businesses and workers the presidential election funding system, Federal Elec- in 2004. Presidential election years are always a time tion Commission reform, and the role of political action when Americans take a keener interest in public policy. committees in the wake of the Supreme Court’s ruling This year is likely to see important debates on many in McConnell v. FEC. Early childhood education, better key issues that have been the focus of CED efforts over public school fi nancing, and progressive trade policy will the past few years. As a business policy group, CED also be priorities. CED’s Digital Connections Council continues to be concerned about fi nancial scandals and has already issued a major report, Promoting Innova- abuse by a few high-profi le corporate leaders. Corporate tion and Economic Growth: The Special Problem of governance reform and greater shareholder account- Digital Intellectual Property, on copyright issues in ability have become issues that have moved from the the digital arena in early 2004. Under the leadership of business page to the front page of American newspapers. Chairman Roy Bostock and President Charles Kolb, They will remain a major topic for CED’s Trustees. the Committee for Economic Development will remain a CED will continue to work on judicial selection and leading policy voice in this country.

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January 14 - New York, NY May 14 - New York, NY Early Education Event. CED-Center for Early Care CED Gala Awards Dinner. Corporate Citizenship and Education- Keynote Speaker: Joel I. Klein, Chancel- Award presented to TIAA-CREF and accepted by Her- lor, New York City Department of Education - Remarks bert M. Allison, Jr., Chairman, President and CEO, from Bank Street College of Education President Augus- TIAA-CREF, Excellence in Public Policy Award pre- ta S. Kappner, TIAA-CREF Life Insurance Company sented to The Honorable James B. Hunt, Jr., Trustee President and CED Trustee, Bertram L. Scott, Execu- Leadership Award presented to Roderick M. Hills, tive Director of Child Care, Inc. (CCI) Nancy Kolben, Partner, Hills & Stern. and CED Chairman Roy J. Bostock.

May 15 - New York, NY March 5 - Washington, DC Early Education Panel Discussion. Remarks from Release of Exploding Deficits, Declining Growth: the Roy J. Bostock, Chairman of CED, The Honorable Federal Budget and the Aging of America. Remarks John Brademas, President Emeritus, New York Univer- from Peter G. Peterson, President, Concord Collation, a sity, The Honorable James B. Hunt, former Governor former U.S. Secretary of Commerce & CED Trustee, and of North Carolina, Dr. Augusta S. Kappner, President, Josh S. Weston, former CEO of Automatic Data Pro- Bank Street College, New York City, The Honorable cessing, Inc. Donna E. Shalala, President of the University of Mi- ami.

March 17 - Austin, TX May 15 - New York, NY Judicial Selection Lunch. CED Trustee W. Mark La- nier, Partner of The Lanier Law Firm, hosted the event. Release of How Economies Grow: the CED Perspective CED President Charles E.M. Kolb and Texas Supreme on Raising the Long-Term Standard of Living. Panel Court Chief Justice Thomas R. Phillips were the fea- Discussion, “Economic Recovery: When?” included tured speakers. remarks from Stephen Roach, Chief Economist, Morgan Stanley; John Lipsky, Economist, JPMorgan Chase; Gail Fosler, Chief Economist, Conference Board; and James May 6 - Washington, DC Glassman, American Enterprise Institute. Legal Reform Panel Discussion; CED-Common Good-Hudson Institute. Panelists Included Derek May 14-15 - New York, NY C. Bok, Professor, Harvard University, JFK School of Government, Michael J. Horowitz, Director of Hudson CED Annual Meetings. Institute’s Project for Civil Justice Reform and Project for International Religious Liberty, Philip K. Howard, Founder and Chair of Common Good, Vice Chairman May 29 - Hartford, CT of Covington & Burling, CED President Charles E. M. Early Education Meeting, Connecticut Commission Kolb, Jeffrey O’Connell, the Samuel H. McCoy II Pro- on Children. Keynote Speaker: Roy J. Bostock, CED fessor of Law at the University of Virginia School of Law, Chairman. and Jeffrey A. Rosen, litigation partner at Kirkland & Ellis. July - Washington, DC May 7 - Washington, DC Release of A New Metropolitan Agenda: A Conference Report. Washington, DC Release of Learning for the Future: Investing in Math and Science Education to Ensure a Competitive Workforce. Keynote Speaker: Rep. Rush Holt (D-NJ).

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August 22 - Dallas, TX November 11 - Durham, NC Globalization Town-Hall Forum & Release of A Globalization Town-Hall Forum. CED-Duke Univer- Shared Future: Reducing Global Poverty and The sity-Durham Chamber of Commerce. Keynote Speaker: Role of Women in Development. CED-Dallas and Fort Robert Ingram, Vice Chairman, Pharmaceuticals, Worth Chambers of Commerce-XTO Energy, Inc. Key- GlaxoSmithKline. Panel discussion included remarks note Address: Steffen Palko, CED Trustee and Vice from Rex Adams, Professor of Business Administration, Chairman and President of XTO Energy, Inc. Panel Fuqua School of Business, Duke University, and CED discussion included remarks from Dr. Jim Hollifield, Trustee; Dr. Elizabeth Kiss, Director, Kenan Insti- Arnold Professor of International Political Economics, tute for Ethics, Duke University; Thomas D. White, Director of John Goodwin Tower Center for Political President, Durham Chamber of Commerce; and Nancy Science, and Director of International Studies, South- Wysenski, President & CEO of EMD Pharmaceuticals. ern Methodist University; Dr. Harold G. Jeffcoat, President, Texas Wesleyan University; and J. Kenneth Menges Jr., Managing Partner, Akin, Gump, Strauss, November 18 - Washington, DC Hauer & Feld. Trade Luncheon. Members of the media who cover trade issues were invited to question four top experts on world trade: Carla Hills, Mickey Kantor, James Rob- September 3 - Washington, DC inson, III, and Clayton Yeutter. Hills, Kantor, and Release of Promoting U.S. Economic Growth and Se- Yeutter have all served as United States Trade Represen- curity Through Expanding World Trade: A Call for tative, while CED Trustee James Robinson, III, is Chair Bold American Leadership. of CED’s Subcommittee on Expanding World Trade and main author of the CED statement Promoting U.S. Eco- nomic Growth and Security Through Expanding World September 17 - Nashville, TN Trade: A Call for Bold American Leadership. Globalization Town-Hall Forum. CED–Vanderbilt University. Keynote Speaker: Dr. Gordon Gee, Chan- December 12 - Syracuse, NY cellor, Vanderbilt University. Panel discussion included remarks from James S. Beard, President, Caterpillar Early Education Event. CED, Syracuse Success-by-6, Financial Services Corporation, and CED Trustee; Dr. Syracuse 2020, Center for Early Care and Education. Daniel B. Cornfield, Vanderbilt Professor of Sociology Keynote Speaker: Roy Bostock, CED Chairman. Other and Acting Director of the Vanderbilt Institute for Public notables include: Mary Cotter, Success-by-6 Chair; Policy Studies; Dr. Linda M. Distlerath, Vice Presi- Karen Schimke, President & CEO, SCAA; Ann Mi- dent, Global Health Policy, Merck & Co., Inc.; and CED chel, Syracuse 2020 Chair; Dr. Stephen Jones, Superin- Trustee, Dr. James E. Foster, Vanderbilt Professor of tendent, Syracuse School District; and Donna DeSiato, Economics and Director, Graduate Program in Economic Assistant Superintendent, Syracuse School District. Roy Development. Bostock and Charles Kolb also spoke with television, print, and radio media on the CED report, Preschool for All: investing in Early Childhood Education. September 29 - Washington, DC

Federal Budget Event. CED Concord Coalition-Center December 15 - Orlando, FL for Budget Priorities. Remarks heard from CED Trustee William W. Lewis, Director Emeritus, McKinsey Early Education Business Focus Group. CED, Global Institute; Robert E. Rubin, former Treasury Florida Children’s Campaign, Florida Success-by-6, Trust Secretary and now a Director and Chairman of the Ex- for Early Education, The Early Childhood Initiative ecutive Committee of Citigroup, Inc.; Warren B. Rud- Foundation. Notables include: Orlando Mayor Buddy man, former Republican Senator from New Hampshire Dyer; Roy Miller, President, Children’s Campaign; and Founding Co-Chairman of the Concord Coalition; Mike Petro, Vice President, CED; and Ted Granger, Peter G. Peterson, former Secretary of Commerce President, United Way of Florida. and President of the Concord Coalition; and Robert D. Reischauer, former director of the Congressional Budget Offi ce, current President of the Urban Institute.

CED Annual Report 2003 15

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ed by multi-year pledges from many of our Trustees Foundation Relations Committee – Mirroring the long- and other corporate supporters, CED met many of its term strategic work of the Revenue Generation Committee, LRevenue Goals. CED has established a Foundations Relations Committee of key Trustees, including Pat Gross, Founder and Senior The Klutznick Challenge – Leading CED’s development Advisor, AMS, Inc. and Chairman, The Lovell Group; William efforts this year was the Klutznick Challenge. At the Executive Lewis, Director Emeritus, McKinsey Global Institute; Bruce Committee meeting in May 2003, CED Trustee Tom Klutznick MacLaury, President Emeritus, The Brookings Institution; provided a special $50,000 grant and issued a challenge to all Hugh Price, Of Counsel, Piper Rudnick, LLP; George Ranney, Trustees to provide increased support to CED’s programs. President & CEO, Chicago Metropolis 2020; Donna Shalala, President, University of Miami; Donald Stewart, President & This challenge was met by many Trustees, including CED’s CEO, The Chicago Community Trust; John P. White, Professor, chairman Roy Bostock; former Chairman, Frank Doyle; Pete Kennedy School, Harvard University; and Harold Williams, Peterson of The Blackstone Group; Don Peterson of Avaya; President Emeritus, The J. Paul Getty Trust. This group of Josh Weston of Automatic Data Processing, Inc.; Frank CED Trustees was established to help CED better respond Carlucci; Rex Adams; Ed Rust of State Farm; Tallman Trask of to foundations’ changing priorities and build in longer lead- Duke Univeristy; Jeff Joerres of Manpower; Raymond Plank of times in project development and fundraising. Apache Corporation; James Johnson of Perseus, and others. Advisory Councils – CED established new leadership Revenue Generation Committee - Under the leadership of bodies to engage and gain the insights of additional company CED Chairman Roy Bostock, the former Chairman and CEO of representatives from our Trustee and corporate member Bcom3 Group, Inc., and Trustee Rex Adams, the former Dean companies. Building on CED’s Trustee-led research, Advisory of the Fuqua School of Business at Duke University and the Councils examine current policies in a given issue area and current Chairman of PBS, CED formed a Revenue Generation make recommendations for policy action as they relate to Committee to continue the momentum begun by the Klutznick the changing environment. In 2003, the Digital Connections Challenge, strategically address our immediate revenue goals, Council met several times and prepared its fi rst paper – and establish a long-term development plan concentrating on Promoting Innovation and Economic Growth: The Special broadening the organization’s base of support. Problem of Digital Intellectual Property – which explores Members of the Revenue Generation Committee include Roy the interaction between public policy and e-commerce and Bostock, Rex Adams, Carolyn Chin of Cebiz; Frank Doyle; Tom the issues of Internet openness, intellectual property, and Klutznick; Donald Peterson of Avaya; Peter Peterson of The economic growth. We also began recruiting members for Blackstone Group; and Ronald Zarrella of Bausch & Lomb. a Human Resources Advisory Council, to be comprised They all reached out to their business colleagues and other of human resources executives who will work with CED industry leaders to introduce them to CED’s work and gain on several workforce-related issues, including the aging their support of our programs. The Committee continues to of America’s workforce, the working poor, and America’s function and has further enhanced its role to focus on longer- healthcare system. term development, recruitment, and membership strategies Academic Subscriptions – In 2003, CED launched a new for CED. Academic Subscription program. This initiative further Trustee Recruitment – In 2003, we recruited 24 new broadened CED’s national constituency of representatives members to our Board of Trustees, including the CEOs from universities, community colleges, chambers of commerce, and senior executives of Boston Consulting Group, Kaiser, schools and community organizations. Through this program, NTTDoCoMo, PricewaterhouseCoopers, and TIAA-CREF, CED communicates on a regular basis with subscribers and the Presidents and Chancellors of Claremont-McKenna, providing our publications, newsletters, issue briefs, and Dartmouth College, Georgetown University, Notre Dame invitations to meetings. University, Stanford University, and the University of Looking Forward to 2004 – CED Trustees continue to Maryland System. lead our strategic development program and are personally Foundations – In 2003, CED received major, multi-year committed to ensuring its success. Our network of business project grants for its work in early education, K-12 education and academic leaders continues to reach out to their industry reform, higher education, campaign fi nance reform, and and regional colleagues, asking them to become engaged in judicial selection reform. Our key funders included Carnegie and support CED’s work. The focus for 2004 will be to involve Corporation of New York, the MetLife Foundation, the many of our longest-standing supporters by recruiting their Charles Stewart Mott Foundation, the Open Society Institute, up-and-coming business leaders as Trustees and Advisory and The Pew Charitable Trusts. We also received new grants Council members. We will also hold strategic sessions to focus from the Stuart Family Foundation and the Z. Smith Reynolds on CED’s business model and ways to secure the involvement Foundation. of many more companies from the Fortune 1000.

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Peter A. Benoliel Best Buy Company, Inc. CED thanks its supporters for their generous contributions and Black Entertainment Television grants, which enable us to pursue a dynamic agenda, focused on Box USA Group, Inc. today’s most signifi cant economic and social issues. The list below Craig D. Brown represents CED’s major supporters. Frank C. Carlucci Carolyn Chin The Chubb Corporation $50,000 and over $10,000 to $19,999 Ferdinand Colloredo-Mansfeld Consolidated Edison Co. Ford Motor Company American Asset Corporation of New York, Inc. General Electric Company American Management Systems, Inc. Cousins Properties Guardsmark, LLC Bank One Corporation Cross Atlantic Capital Partners Merck & Co., Inc. Biogen, Inc. Debevoise & Plimpton, LLP Metropolitan Life Insurance Company The Blackstone Group Electric Power Research Institute New York Community Trust Brown Brothers Harriman & Co. Harry L. Freeman Pfi zer Inc. Caterpillar, Inc. Gerald Greenwald Prudential Insurance Co. of America Citigroup, Inc. GlaxoSmithKline State Farm Insurance Companies Credit Suisse First Boston, LLC Goldman Sachs Group Inc. Thomas J. Klutznick Company Deere & Company Alfred G. Goldstein XTO Energy, Inc. Duke University Granite Broadcasting Corporation Edmund B. Fitzgerald Pat W. Gross Educational Testing Service Grossman Family Foundation $20,000 to $49,999 FedEx Corporation H. E. Butt Grocery Company Human Genome Sciences, Inc. Harman International Industries, Inc. American International Group, Inc. Janus Capital Group Inc. Hills & Stern, LLP Apache Corporation Johnson & Johnson Household International, Inc. Automatic Data Processing, Inc. Kaiser Foundation Health Plan, Inc Robert J. Hurst Avaya Inc. McKinsey & Company, Inc. James Johnson Bausch & Lomb Incorporated Nortel Networks Corporation Kohlberg Kravis Roberts & Co. Bristol-Myers Squibb Company Northwestern Mutual Life Korn/Ferry International, Inc. The Boeing Company Insurance Company The Liberty Corporation Roy J. Bostock NTT DoCoMo USA James W. McKee, Jr. The Boston Consulting Group, Inc. Pacifi c Life Insurance Company Harvey Miller ChevronTexaco Corporation Rensselaer Polytechnic Institute Nektar Therapeutics Deloitte & Touche Roadway Corporation Public Service Enterprise Group, Inc. Frank P. Doyle Sears, Roebuck and Co. Quaker Chemical Corporation General Mills Foundation Sony Corporation of America Randolph Foundation General Motors Corporation Target Corporation RRE Ventures Great Plains Energy Services Tenet Healthcare Corporation Sheridan Broadcasting Corporation HCA–The Healthcare Company Tudor Investment Corporation Wachovia Corporation The Horace W. Goldsmith Foundation Weil, Gotshal & Manges The Walt Disney Company IBM Corporation Josh S. Weston Wells Fargo & Company The J.P. Morgan Chase Foundation Jacob J. Worenklein The Lanier Law Firm, P.C. Wyeth Manpower Inc. Xerox Foundation $2,500 to $4,999 Peter G. Peterson TIAA-CREF Rex D. Adams United Water Resources, Inc. $5,000 to $9,999 Air Products and Chemicals, Inc. Warburg Pincus LLC Azimuth Alternative Asset Yahoo! Inc. 3M Foundation Management LLP Anheuser-Busch Companies, Inc. Barnard College Roy L. Ash Baruch College Banco Popular de Puerto Rico Alan Belzer Becton Dickinson and Company Brigham Young University

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The CIT Group, Inc. Linda Distlerath The Vantage Group Corning Incorporated Irwin Dorros Vogl Communications, Inc. Covington & Burling Dunphy Family Foundation Harold M. Williams The Diebold Institute East Carolina University Robert Winters Dolores Kohl Education Foundation W.D. Eberle Wolfe Enterprises, Inc. Earl G. Graves Publishing Company, Inc. El Centro College The Gillette Company Estate of Sanford Atwood The Goldberg Family Foundation Federal Reserve Bank of Philadelphia Project Funders Judith H. Hamilton FirstEnergy Corporation Phillip K. Howard General Atlantic Partners Arnof Family Foundation Hershey Foods Corporation Granite Construction, Inc. Carnegie Corporation of New York Historic Restoration, Inc. Greenpoint Financial Corp. The William and Flora Hewlett Hubbard Broadcasting, Inc. Barbara Grogan Foundation IKON Offi ce Solutions Richard Hanselman The Charles Stewart Mott Foundation Bruce K. MacLaury The Hillman Company Open Society Institute Marsh & McLennan Companies, Inc. Holborn Corporation The Pew Charitable Trusts National Urban League Human Resource Services, Inc. The Robert Wood Johnson Foundation Nationwide IGA, INC. Russell Sage Foundation The Richard E. Jacobs Group Intermountain Gas Company Z. Smith Reynolds Foundation E. B. Robinson J.J. Haines & Company, Inc. The Stuart Family Foundation Shure Incorporated John Siciliano The Stanley Works Kildare Enterprises, LLC Endowments TXU Corp. Leviton Manufacturing Company, Inc. Arnold Weber The Levy Economics Institute The Roy L. Ash Program in American Margaret S. Wilson William W. Lewis Governance (given by Mr. Ash) Womble Carlyle Sandridge & Rice, PLLC LKM Ventures, LLC Colette Mahoney The Owen B. Butler Program in Ellen R. Marran Education Studies (given by Daiwa $2,499 and under Marymount Manhattan College Securities Co., Ltd.) Oscar G. Mayer Ackman-Ziff Real Estate Group LLC John McGillicuddy The Edmund B. Fitzgerald Program in Alliant Energy Corporation Robert Mercer International Studies (given by Northern American Association of Monadnock Paper Mills, Inc. Telecom) Community Colleges John Morgridge American University Neiman Marcus Group, Inc. The Philip M. Klutznick Program in Ameritas Life Insurance Corp. New York University Urban Studies (given by Mr. Klutznick) Atlas Material Testing Technology, LLC Matt Nimitz Avenir Group, Inc. Ronald Olsen The Philip D. Reed Program in Energy Belz Enterprises Pace University and the Environment (given by the Boston Properties, Inc. Carol J. Parry Philip D. Reed Foundation) William Brock Polaris Venture Partners Brown University Preformed Line Products Company Carl H. Pforzheimer & Co. S. L. Prendergast John B. Cave James Riordan Central Bancompany Ralph Saul Hugh Chapman ShoreBank Corporation ChemFirst Inc. Snap-on Incorporated Tom Claussen Stanford University Columbia University The Stanley Group Country Insurance and Paula Stern Financial Services Susquehanna Pfaltzgraff Co. The Dickson Foundation, Inc. Texas Southern University Paul Tregurtha The University of Notre Dame Vanderbilt University

18 CED Annual Report 2003

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HERBERT M. ALLISON, JR. ROBERT H. DUGGER REV. EDWARD A. MALLOY Chairman Managing Director President President and CEO Tudor Investment Corporation University of Notre Dame TIAA-CREF

RAY DURKEE ALAN G. MERTEN MERRILL J. BATEMAN Vice President President President Sales and Marketing George Mason University Brigham Young University Kaiser Foundation Health Plan

NOBUHARU ONO LEE C. BOLLINGER PAMELA B. GANN President and CEO President President NTT DoCoMo USA, Inc. Columbia University Claremont McKenna University

GEORGE A. RANNEY, JR. ROBERT H. BRUININKS RICHARD H. HERSH President and CEO President President Chicago Metropolis 2020 University of Minnesota Trinity College

JUDITH R. SHAPIRO DAVID A. CAPUTO MARK JOINER President President Senior Vice President and Director Barnard College Pace University Boston Consulting Group

JERRY D. WEAST PAUL DANOS ROBERT L. JOSS Superintendent Dean Dean Montgomery County Public Schools The Amos Tuck School of Business Stanford School of Business Administration Dartmouth College RONALD L. ZARRELLA WILLIAM E. KIRWAN Chairman and CEO Chancellor Bausch & Lomb JOHN J. DEGIOIA University System of Maryland President Georgetown University STEVEN ZATKIN BENJAMIN LADNER Senior Vice President President Government Relations SAMUEL A. DIPIAZZA American University Kaiser Foundation Health Plan Global Chief Executive PricewaterhouseCoopers

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Chairman WILLIAM W. LEWIS ALAN BELZER Director Emeritus, McKinsey Global Institute Former President & CEO ROY J. BOSTOCK McKinsey & Company, Inc. Allied Signal Inc. Chairman (Retired) BCom3 Group, Inc. BRUCE K. MACLAURY MELVYN E. BERGSTEIN President Emeritus Chairman and Chief Executive Offi cer The Brookings Institution Diamond Cluster International President STEFFEN E. PALKO DEREK BOK CHARLES E. M. KOLB Vice Chairman and President President Emeritus President XTO Energy Inc. Harvard University Committee for Economic Development DONALD K. PETERSON LEE C. BOLLINGER Chairman and CEO President Executive Committee Avaya Inc. Columbia University

REX D. ADAMS ARTHUR F. RYAN JACK O. BOVENDER, JR. Professor of Business Administration President, Chairman and CEO Chairman and CEO Duke University Prudential Insurance Co. of America HCA Inc.

IAN ARNOF DONNA E. SHALALA JOHN BRADEMAS Chairman (Retired) President President Emeritus Bank One, Louisiana, NA University of Miami New York University

PETER A. BENOLIEL FREDERICK W. TELLING, PH.D. JOSEPH P. BRANDON Chairman, Executive Committee Vice President, Corporate Strategic Planning & Chairman, President and Chief Executive Offi ce Quaker Chemical Corporation Policy Division General RE Corporation Pfi zer Inc. FLETCHER L. BYROM WILLIAM E. BROCK President & CEO JOSH S. WESTON Chairman MICASU Corporation Honorary Chairman Bridges Learning Systems, Inc. Automatic Data Processing, Inc. JOHN L. CLENDENIN ROBERT H. BRUININKS Chairman (Retired) RONALD L. ZARRELLA President BellSouth Corporation Chairman and CEO University of Minnesota Bausch & Lomb Inc. GEORGE H. CONRADES TONY BUZZELLI Chairman and CEO Deputy Managing Partner Akamai Technologies Inc.James P. Corcoran Trustees Deloitte & Touche, LLP

LINDA M. DISTLERATH PH.D. PAUL A. ALLAIRE DONALD R. CALDWELL Vice President, Global Health Policy Chairman (Retired) Chairman & Chief Executive Offi cer Merck & Co., Inc. Xerox Corporation Cross Atlantic Capital Partners

FRANK P. DOYLE HERBERT M. ALLISON, JR. DAVID A. CAPUTO Executive Vice President(Retired) Chairman, President and CEO President General Electric Company TIAA-CREF Pace University

EDMUND B. FITZGERALD MARIA BEATRICE ARCO FRANK C. CARLUCCI Former Chairman & CEO Chair Chairman (Retired) Nortel Networks American Asset Corporation The Carlyle Group

JOSEPH GANTZ MERRILL J. BATEMAN JOHN B. CAVE Partner Former President (Retired) Principal GG Capital, LLC Brigham Young University Avenir Group, Inc.

PATRICK W. GROSS JAMES S. BEARD RAYMOND G. CHAMBERS Chairman, The Lovell Group President Chairman of the Board (Retired) Founder and Senior Advisor, AMS, Inc. Caterpillar Financial Services Corporation Amelior Foundation

JAMES A. JOHNSON HENRY P. BECKTON, JR. ROBERT B. CHESS Vice Chairman President Chairman Perseus, LLC WGBH Educational Foundation Nektar Therapeutics

THOMAS J. KLUTZNICK THOMAS D. BELL, JR. MICHAEL J. CHESSER President Vice Chairman, President & CEO Chairman, President and CEO Thomas J. Klutznick Company Cousins Properties Incorporated Great Plains Energy

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CAROLYN CHIN RAY DURKEE JOSEPH T. GORMAN Chairman &CEO Vice President, Sales and Account Management Chairman and CEO (Retired) Cebiz Kaiser Foundation Health Plan, Inc TRW Inc.

FERDINAND COLLOREDO-MANSFELD CHRISTOPHER D. EARL, PH.D. EARL G. GRAVES, SR. Partner Managing Director Publisher and Chief Executive Offi cer Cabot Properties, Inc. Perseus Capital, LLC Earl G. Graves Publishing Co., Inc.

JAMES P. CORCORAN W. D. EBERLE WILLIAM H. GRAY, III Consultant Chairman President and CEO Manchester Associates, Ltd. The United Negro College Fund DAVID M. COTE Chairman, President and CEO ROBERT A. ESSNER GERALD GREENWALD Honeywell International Inc. Chairman, President and CEO Chairman Wyeth Greenbrier Equity Group STEPHEN A. CRANE Chairman and CEO DIANA FARRELL BARBARA B. GROGAN Stirling Cooke Brown Holdings Limited Director President McKinsey Global Institute Western Industrial Contractors W. BOWMAN CUTTER Managing Director G. STEVEN FARRIS JEROME H. GROSSMAN Warburg Pincus LLC President, CEO and COO Senior Fellow Apache Corporation John F. Kennedy School of Government PAUL DANOS Harvard University Dean, The Amos Tuck School of Business KATHLEEN FELDSTEIN Dartmouth College President RONALD GRZYWINSKI Economics Studies, Inc. Chairman RONALD R. DAVENPORT Shorebank Corporation Chairman of the Board E. JAMES FERLAND Sheridan Broadcasting Corporation Chairman, President and Chief Executive JUDITH H. HAMILTON Offi cer Former President and CEO JOHN J. DEGIOIA Public Service Enterprise Group Inc. Classroom Connect President Georgetown University HARRY FREEMAN WILLIAM A. HASELTINE Chairman Chairman and Chief Executive Offi cer ROBERT DEVLIN The Mark Twain Institute Human Genome Sciences, Inc. Chairman Curragh Capital Partners MITCHELL S. FROMSTEIN WILLIAM HENDERSON Chairman Emeritus Former Postmaster General JOHN DIEBOLD Manpower Inc. Chairman RICHARD H. HERSH John Diebold Incorporated PAMELA B. GANN President President Trinity College SAMUEL A. DIPIAZZA Claremont McKenna College Global Chief Executive HEATHER R. HIGGINS PricewaterhouseCoopers LLP E. GORDON GEE President Chancellor Randolph Foundation IRWIN DORROS Vanderbilt University President RODERICK M. HILLS Dorros Associates THOMAS P. GERRITY Chairman Dean Emeritus Hills & Stern, LLP ROBERT H. DUGGER The Wharton School HAYNE HIPP Managing Director University of Pennsylvania Tudor Investment Corporation Chairman and CEO FREDERICK W. GLUCK The Liberty Corporation PHILIP DUKE Of Counsel PAUL M. HORN Executive Vice President (Retired) McKinsey & Company, Inc. Lockheed Martin Corporation Senior Vice President, Research CAROL R GOLDBERG IBM Corporation FRANK A. DUNN President MATINA S. HORNER President and CEO The Avcar Group, Ltd. Nortel Networks President Emerita ALFRED G. GOLDSTEIN Radcliffe College T. J. DERMOT DUNPHY President and CEO PHILIP K. HOWARD, ESQ. Chairman AG Associates Kildare Enterprises, LLC Vice Chairman Covington & Burling

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ROBERT J. HURST KURT M. LANDGRAF MATTHEW NIMETZ Vice Chairman President & CEO Partner Goldman Sachs Group Inc. Educational Testing Service General Atlantic Partners

SHIRLEY ANN JACKSON ROBERT W. LANE THOMAS H. O’BRIEN President Chairman and Chief Executive Offi cer Chairman (Retired) Rensselaer Polytechnic Institute Deere & Company PNC Financial Services Group, Inc.

WILLIAM C. JENNINGS W. MARK LANIER DEAN R. O’HARE Chairman President Chairman and CEO (Retired) US Interactive, Inc. The Lanier Law Firm P.C. Chubb Corporation

JEFFREY A. JOERRES IRA A. LIPMAN RONALD L. OLSON Chairman, CEO and President Chairman of the Board and President Partner Manpower Inc. Guardsmark, LLC Munger, Tolles & Olson LLP

L. OAKLEY JOHNSON COLETTE MAHONEY, RSHM NOBUHARU ONO Senior Vice President, Corporate Affairs President Emeritus President and CEO American International Group, Inc. Marymount Manhattan College NTT DoCoMo USA

ROBERT M. JOHNSON EDWARD A. MALLOY, C.S.C. SANDRA PANEM, PH.D. Chairman and CEO President Partner Bowne & Co. Inc. University of Notre Dame Cross Atlantic Partners, Inc.

MARK JOINER ELLEN R. MARRAM JERRY PARROTT Senior Vice President & Director Managing Director Vice President, Corporate Communications The Boston Consulting Group, Inc. North Castle Partners Human Genome Sciences, Inc.

VAN E. JOLISSAINT T. ALLAN MCARTOR CAROL J. PARRY Chief Economist Chairman President DaimlerChrysler Corporation Airbus North America, Inc. Corporate Social Responsibility Associates

H. V. JONES ALONZO L. MCDONALD VICTOR A. PELSON Managing Director Chairman and CEO Senior Advisor Korn/Ferry International, Inc. Avenir Group, Inc. UBS Warburg LLC

ROBERT L. JOSS DAVID E. MCKINNEY PETER G. PETERSON Dean, Graduate School of Business President Chairman Stanford University The Metropolitan Museum of Art The Blackstone Group

PRES KABACOFF ALAN G. MERTEN TODD E. PETZEL President and Co-Chairman President Azimuth Alternative Asset Management LLP Historic Restoration Inc. George Mason University RAYMOND PLANK EDWARD A. KANGAS DEBORAH HICKS MIDANEK Chairman Chairman & CEO (Retired) Principal Apache Corporation Deloitte Touche Tohmatsu Glass & Associates HUGH B. PRICE JOSEPH E. KASPUTYS HARVEY R. MILLER, ESQ. Senior Advisor Chairman, President and CEO Vice Chairman Piper Rudnick, LLC Global Insight, Inc. Greenhill & Co., LLC GEORGE A. RANNEY JR. WILLIAM E. KIRWAN ALFRED T. MOCKETT President and CEO Chancellor Chairman and CEO Chicago Metropolis 2020 University System of Maryland American Management Systems, Inc. NED REGAN EDWARD M. KOPKO NICHOLAS G. MOORE President Chairman, President and CEO Senior Advisor Baruch College Butler International Beehtel Corporation J. W. RHODES JR. C. JOSEPH LABONTE DIANA S. NATALICIO Manager, Corporate Community Involvement Chairman President ChevronTexaco Corporation The Vantage Group The University of Texas at El Paso JAMES Q. RIORDAN BENJAMIN LADNER MARILYN CARLSON NELSON Director President Chairman and CEO Quentin Partners Co. American University Carlson Companies, Inc.

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E. B. ROBINSON, JR. FREDERICK W. SMITH FRANK VOGL Former Chairman Chairman, President and CEO President Deposit Guaranty Corporation FedEx Corporation Vogl Communications

JAMES D. ROBINSON, III JOHN F. SMITH, JR. DONALD C. WAITE, III General Partner and Founder Chairman (Retired) Director RRE Ventures General Motors Corporation McKinsey & Company, Inc.

ROY ROMER DAVID A. SPINA JERRY WEAST Superintendent Chairman and CEO Superintendent (Former Governor of Colorado) State Street Corporation Montgomery County Public Schools Los Angeles Unifi ed School District ALAN G. SPOON ARNOLD R. WEBER DANIEL ROSE Managing General Partner President Emeritus Chairman Polaris Venture Partners Northwestern University Rose Associates, Inc. STEPHEN STAMAS CLIFTON R. WHARTON, JR. HOWARD M. ROSENKRANTZ Chairman Former Chairman and CEO Chief Executive Offi cer The American Assembly TIAA-CREF Grey Flannel Auctions PAULA STERN, PH.D. DOLORES D. WHARTON LANDON H. ROWLAND Chairwoman Former Chairman and CEO Chairman The Stern Group, Inc. The Fund for Corporate Initiatives Janus Capital Group Inc. DONALD M. STEWART MICHAEL W. WICKHAM NEIL L. RUDENSTINE President and CEO Chairman Chair, ArtStor Advisory Board The Chicago Community Trust Roadway Express Inc. Andrew W. Mellon Foundation ROGER W. STONE HAROLD M. WILLIAMS GEORGE E. RUPP Chairman and CEO Of Counsel President Box USA Group, Inc. Skaden, Arps, Slate, Meagher and Flom, LLP International Rescue Committee MATTHEW J. STOVER LINDA SMITH WILSON EDWARD B. RUST, JR. Chairman President Emerita Chairman and CEO LKM Ventures, LLC Radcliffe College State Farm Insurance Companies LAWRENCE SUMMERS LYNTON R. WILSON STEPHEN W. SANGER President Chairman Chairman and CEO Harvard University Nortel Networks Corporation General Mills Inc. RICHARD F. SYRON MARGARET S. WILSON BERTRAM L. SCOTT Chairman and CEO Chairman and CEO President Freddie Mac Scarbroughs TIAA-CREF Life Insurance Company HENRY TANG JACOB J. WORENKLEIN JOHN E. SEXTON Chairman President and CEO President Committee of 100 US Power Generating Co. LLC New York University JAMES A. THOMSON NANCY WYSENSKI JUDITH R. SHAPIRO, PH.D. President and CEO President and CEO President RAND EMD Pharmaceuticals Barnard College STOKLEY P. TOWLES KURT E. YEAGER WALTER H. SHORENSTEIN Partner President and Chief Executive Offi cer Chairman of the Board Brown Brothers Harriman & Co. Electric Power Research Institute Shorenstein Company LLC STEPHEN JOEL TRACHTENBERG STEVEN ZATKIN GEORGE P. SHULTZ President Senior Vice President, Government Relations Distinguished Fellow George Washington University Kaiser Foundation Health Plan, Inc The Hoover Institution TALLMAN TRASK, III MARTIN B. ZIMMERMAN JOHN C. SICILIANO Executive Vice President Vice President, Corporate Affairs Director of Global Institutional Services Duke University Ford Motor Company Dimensional Fund Advisors JAMES L. VINCENT EDWARD J. ZORE RUTH J. SIMMONS Chairman (Retired) President and CEO President Biogen, Inc. Northwestern Mutual Brown University

CED Annual Report 2003 23

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RAY C. ADAM ROBERT R. DOCKSON GEORGE F. JAMES Retired Chairman Chairman Emeritus Ponte Vedra Beach, Florida NL Industries CalFed, Inc. DAVID KEARNS ROBERT O. ANDERSON LYLE EVERINGHAM Chairman Emeritus Retired Chairman Retired Chairman New American Schools Hondo Oil & Gas Company The Kroger Co. GEORGE M. KELLER ROY L. ASH THOMAS J. EYERMAN Retired Chairman of the Board Los Angeles, California Retired Partner Chevron Corporation Skidmore, Owings & Merrill ROBERT H. B. BALDWIN FRANKLIN A. LINDSAY Retired Chairman DON C. FRISBEE Retired Chairman Morgan Stanley Group Inc. Chairman Emeritus Itek Corporation Pacifi Corp GEORGE F. BENNETT ROBERT W. LUNDEEN Chairman Emeritus RICHARD L. GELB Retired Chairman State Street Investment Trust Chairman Emeritus The Dow Chemical Company Bristol-Myers Squibb Company HAROLD H. BENNETT RICHARD B. MADDEN Salt Lake City, Utah W. H. KROME GEORGE Retired Chairman and Chief Executive Offi cer Retired Chairman Potlatch Corporation JACK F. BENNETT ALCOA Retired Senior Vice President AUGUSTINE R. MARUSI Exxon Corporation WALTER B. GERKEN Lake Wales, Florida Retired Chairman and Chief Executive Offi cer HOWARD W. BLAUVELT Pacifi c Life Insurance Company WILLIAM F. MAY Keswick, Virginia Chairman and Chief Executive Offi cer LINCOLN GORDON Statue of Liberty-Ellis Island Foundation, Inc. MARVIN BOWER Guest Scholar Delray Beach, Florida The Brookings Institution OSCAR G. MAYER Retired Chairman ALAN S. BOYD JOHN D. GRAY Oscar Mayer & Co. Lady Lake, Florida Chairman Emeritus Hartmarx Corporation GEORGE C. MCGHEE ANDREW F. BRIMMER Former U.S. Ambassador and President RICHARD W. HANSELMAN Under Secretary of State Brimmer & Company, Inc. Chairman Health Net Inc. JOHN F. MCGILLICUDDY PHILIP CALDWELL Retired Chairman and Chief Executive Offi cer Retired Chairman ROBERT S. HATFIELD Chemical Banking Corporation Ford Motor Company Retired Chairman The Continental Group, Inc. JAMES W. MCKEE, JR. HUGH M. CHAPMAN Retired Chairman Retired Chairman ARTHUR HAUSPURG CPC International, Inc. NationsBank South Member, Board of Trustees Consolidated Edison Company CHAMPNEY A. MCNAIR E. H. CLARK, JR. of New York, Inc. Retired Vice Chairman Chairman and Chief Executive Offi cer Trust Company of Georgia The Friendship Group PHILIP M. HAWLEY Retired Chairman of the Board J. W. MCSWINEY A.W. CLAUSEN Carter Hawley Hale Stores, Inc. Retired Chairman of the Board Retired Chairman and Chief Executive Offi cer The Mead Corporation BankAmerica Corporation ROBERT C. HOLLAND Senior Fellow ROBERT E. MERCER DOUGLAS D. DANFORTH The Wharton School Retired Chairman Executive Associates University of Pennsylvania The Goodyear Tire & Rubber Co. Retired President JOHN H. DANIELS Committee for Economic Development RUBEN F. METTLER Retired Chairman and Chief Executive Offi cer Retired Chairman and Chief Executive Offi cer Archer-Daniels Midland Co. LEON C. HOLT, JR. TRW Inc. Retired Vice Chairman RALPH P. DAVIDSON Air Products and Chemicals, Inc. LEE L. MORGAN Washington, D.C. Former Chairman of the Board SOL HURWITZ Caterpillar, Inc. ALFRED C. DECRANE, JR. Retired President Retired Chairman and Chief Executive Offi cer Committee for Economic Development ROBERT R. NATHAN Texaco, Inc. Chairman Nathan Associates, Inc.

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J. WILSON NEWMAN ROBERT M. PRICE ROCCO C. SICILIANO Retired Chairman Former Chairman and Chief Executive Offi cer Beverly Hills, California Dun & Bradstreet Corporation Control Data Corporation ELMER B. STAATS JAMES J. O’CONNOR JAMES J. RENIER Former Controller Former Chairman and Chief Executive Offi cer Renier & Associates General of the United States Unicom Corporation IAN M. ROLLAND FRANK STANTON LEIF H. OLSEN Former Chairman and Chief Executive Offi cer Former President President Lincoln National Corporation CBS, Inc. LHO GROUP AXEL G. ROSIN EDGAR B. STERN, JR. NORMA PACE Retired Chairman Chairman of the Board President Book-of-the-Month Club, Inc. Royal Street Corporation Paper Analytics Associates WILLIAM M. ROTH ALEXANDER L. STOTT CHARLES W. PARRY Princeton Fairfi eld, Connecticut Retired Chairman New Jersey ALCOA WAYNE E. THOMPSON WILLIAM RUDER Past Chairman WILLIAM R. PEARCE William Ruder Incorporated Merritt Peralta Medical Center Director American Express Mutual Funds RALPH S. SAUL THOMAS A. VANDERSLICE Former Chairman of the Board TAV Associates JOHN H. PERKINS CIGNA Companies Former President SIDNEY J. WEINBERG, JR. Continental Illinois National Bank GEORGE A. SCHAEFER Senior Director and Trust Company Retired Chairman of the Board The Goldman Sachs Group, Inc. Caterpillar, Inc. RUDOLPH A. PETERSON ROBERT C. WINTERS President and Chief Executive Offi cer Emeritus ROBERT G. SCHWARTZ Chairman Emeritus BankAmerica Corporation New York, New York Prudential Insurance Company of America

DEAN P. PHYPERS MARK SHEPHERD, JR. RICHARD D. WOOD New Canaan, Connecticut Retired Chairman Director Texas Instruments, Inc. Eli Lilly and Company

CHARLES J. ZWICK Coral Gables, Florida

CED Annual Report 2003 25

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RALPH D. CHRISTY HELEN F. LADD RUDOLPH G. PENNER J. Thomas Clark Professor Professor of Public Policy Studies and Economics Senior Fellow Department of Agricultural, Resource, and Sanford Institute of Public Policy The Urban Institute Managerial Economis Duke University Cornell University CECILIA E. ROUSE ZANNY MINTON-BEDDOES Professor of Economics and Public Affairs ALAIN C. ENTHOVEN Washington Economics Correspondent Woodrow Wilson School Marriner S. Eccles Professor of Public and The Economist Princeton University Private Management Stanford University WILLIAM D. NORDHAUS HAL VARIAN Graduate School of Business Sterling Professor of Economics Class of 1944 Professor of Information and Cowles Foundation Management Systems BENJAMIN M. FRIEDMAN Yale University Haas School of Business William Joseph Maier Professor of Political University of California, Berkeley Economy JOHN PALMER Harvard University Professor and Dean Emeritus JOHN P. WHITE Maxwell School of Citizenship Lecturer in Public Policy ROBERT W. HAHN and Public Affairs John F. Kennedy School of Government Resident Scholar Syracuse University Harvard University American Enterprise Institute

DIGITAL CONNECTIONS COUNCIL

Council Chair MARK GULLING WILLIAM PLUMMER Vice President, Chief Information Offi cer Vice President, Strategic and External Affairs PAUL M. HORN Eastman Kodak Company Nokia Senior Vice President, Research IBM Corporation EDWARD HOROWITZ LOUIS RANA Chairman Senor Vice President EdsLink LLC Consolidated Edison Company of NY, Inc. CED Trustees RICHARD HOWARD ANDREW STRICKER CAROLYN CHIN Vice President, Wireless Research (Retired) Associate Provost – Innovation Through Chairman Bell Laboratories, Lucent Technologies Technology Commtouch/C3 Partners Vanderbilt University LARRY JACKEL IRWIN DORROS Research Professor, Department of Computer DEBORAH TRASKELL President Science Vice President – Enterprise Technology Offi ce Dorros Associates Rutgers University State Farm Insurance

JOSEPH GANTZ RAY JORDAN PAUL TURNER Partner Vice President, Information Executive Vice President and Chief Technology GG Capital, LLC Pfi zer Inc. Offi cer American Management Systems, Inc. PATRICK W. GROSS JOHN E. KOLB Chairman, The Lovell Group Chief Information Offi cer COLIN WATSON Founder and Senior Advisor, AMS, Inc. Rensselaer Polytechnic Institute Senior Vice President KeySpan MATTHEW J. STOVER CAMPBELL LANGDON President Corporate Vice President, Strategic Development ALAN YOUNG LKM Ventures Automatic Data Processing, Inc. Executive Director, Information Security Services JOHN LEE Citigroup Members Director of Information Technology Nektar Therapeutics ELLIOT MAXWELL REGINALD FOSTER Consultant Chairman & CEO TARIQ MUHAMMAD Alpine Access, Inc. Interactive Media Director SUSAN CRAWFORD Earl G. Graves Publishing/Black Enterprise Assistant Professor of Law WILLIAM FRIEL Magazine Cardozo School of Law, NYC Senior Vice President and Chief Information Offi cer ROBERT OBEE Prudential Financial Chief Information Offi cer, Roadway Express Chief Technology Integration Offi cer, Yellow Roadway Enterprise Services

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CHARLES E.M. KOLB President

Research Communications/Government Relations RICHARD M. RODERO Director of Development EVERETT M. EHRLICH MICHAEL J. PETRO Senior Vice President and Vice President and Director of Director of Research Business and Government Relations and ANCILLA CHOPSKIE Chief of Staff Assistant Director of Development

JANET HANSEN Vice President and Director of Education MORGAN BROMAN Finance and Administration Studies Director of Communications LAURIE LEE Chief Financial Offi cer and Vice President of VAN DOORN OOMS CHRIS DREIBELBIS Finance and Administration Senior Fellow Business and Government Policy Associate

SHARON A. FOWKES TRACY KORNBLATT CHRISTINE RYAN Executive Assistant to the President Research Associate Program Director

JEFFREY SKINNER JESSICA NUZZELILLO ROBIN SAMERS Senior Accountant/Grants Administrator Research Associate Assistant Director of Communications

RACQUEL TUPAZ Advisor on International Development Senior Accountant/Financial Reporting Economic Policy MARTHA E. HOULE ISAIAH FRANK Vice President for Development and AMANDA TURNER William L. Clayton Professor of International Secretary of the Board of Trustees Offi ce Manager Economics The Johns Hopkins University NICHOLE REMMERT Foundation Relations Manager

CED Annual Report 2003 27

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Close relations exist between the Committee for Economic Development and in- dependent, nonpolitical research organizations in other countries. Such counter- part groups are composed of business executives and scholars and have objectives similar to those of CED, which they pursue by similarly objective methods. CED cooperates with these organizations on research and study projects of common interest to the various countries concerned. This program has resulted in a num- ber of joint policy statements involving such international matters as energy, as- sistance to developing countries, and the reduction of nontariff barriers to trade.

CE Circulo de Empresarios Madrid, Spain

CEAL Consejo Empresario de America Latina Mexico City, Mexico

CEDA Committee for Economic Development of Australia Sydney, Australia

CIRD China Institute for Reform and Development Hainan, People’s Republic of China

EVA Centre for Finnish Business and Policy Studies Helsinki, Finland

FAE Forum de Administradores de Empresas Lisbon, Portugal

IDEP Institut de l’Entreprise Paris, France

IW Institut der deutschen Wirtschaft Koeln Cologne, Germany

Keizai Doyukai Tokyo, Japan

SMO Stichting Maatschappij en Onderneming The Netherlands Committee for Economic SNS Studieförbundet Naringsliv och Samhälle Development Stockholm, Sweden 2000 L Street N.W. Suite 700 Washington, D.C. 20036 Telephone 202-296-5860 Fax 202-223-0776

www.ced.org

2226952695 CEDCED REPORTREPORT CX.inddCX.indd 2828 55/14/04/14/04 9:40:269:40:26 AAMM Document Metadata

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CED's 2003 Annual Report

Publisher(s): Committee for Economic Development Date Published: 2004-05-27 Rights: Creative Commons Attribution-NonCommercial-NoDerivs 3.0 Unported Subject(s): General