Committee for Economic Development
Annual 2007 Report
Business Leaders Driving RReformeform
• Health Care Reform • Making Washington Work • Corporate Governance Th e Best of Business Th inking • Early Childhood Education • Global Financial Imbalances In the Nation’s Interest • Campaign Finance Reform • Judicial Selection • International Studies and Foreign Languages Business Leaders Driving Reform
In 2007, the Committee for Economic Development )N #%$ HAD AN ESPECIALLY BUSY POLICY YEAR WHICH SAW celebrated its 65th anniversary by commencing a strategic THE COMPLETION AND RELEASE OF FOUR IMPORTANT #%$ STATE- reassessment of its historic mission: ments: s 4O CONDUCT PUBLIC POLICY ANALYSIS ON THE MOST IMPOR- s Reducing Risks From Global Imbalances TANT LONG TERM ISSUES !MERICA FACES AN AGENDA THAT HAS INCLUDED EDUCATION lSCAL RESPONSIBILITY ENTITLE- s Built to Last: Focusing Corporations on Long-Term MENT REFORM HEALTH CARE REFORM 3OCIAL 3ECURITY AND Performance RELATED AGING ISSUES AND THE CHANGING STRUCTURE OF THE s Quality, Affordable Health Care for All: Moving Beyond international economy; and the Employer-Based Health-Insurance System s 4O MAINTAIN A STRONG FOCUS ON ADVOCACY AND ACTION s Harnessing Openness to Transform American Health REGARDING THESE ISSUES THROUGH A LONG TERM EMPHASIS Care. ON BUSINESS PARTICIPATION AND STATESMANSHIP THAT IS central to CED’s role. 3UBSTANTIAL WORK WENT INTO PREPARING THESE FOUR MAJOR POLICY STATEMENTS AND WE WANT TO THANK THE CO CHAIRS WHO 4HE THREE OF US WORKING WITH MEMBERS OF #%$S %XECUTIVE led these CED reports. #OMMITTEE HAVE CONlRMED OUR COMMITMENT TO THIS MIS- SION BUT WE ALSO CONCLUDED THAT THE PUBLIC POLICY ENVIRON- s Joseph Kasputys #HAIRMAN 0RESIDENT AND #%/ 'LOBAL MENT HAS CHANGED SO FUNDAMENTALLY THAT #%$ SHOULD TAKE Insight, and William McDonough, Vice Chairman and A NEW APPROACH IN CARRYING OUT ITS MISSION /UR STRATEGIC 3PECIAL !DVISOR TO THE #HAIRMAN -ERRILL ,YNCH #O REASSESSMENT WAS INFORMED AND GREATLY ENHANCED BY OUR Inc. (Global Imbalances) WORK SUPPORTED BY -C+INSEY #OMPANY CONDUCTING A SERIES OF FORUMS ACROSS THE NATION THAT EXPLORED WHY SOME s William Donaldson, Chairman, Donaldson Enterprises BUSINESS LEADERS ENGAGE IN PUBLIC POLICY AND WHY OTHERS DO (Built to Last) not. s Robert Chess #HAIRMAN .ECTAR 4HERAPEUTICS AND !S OPPOSED TO JUST YEARS AGO TODAY THERE IS AN ABUN- Jerome Grossman 3ENIOR &ELLOW AND $IRECTOR OF THE DANCE OF HIGH QUALITY RESEARCH AND ANALYSIS ON VIRTUALLY +ENNEDY 3CHOOL (EALTH #ARE $ELIVERY 0OLICY 0ROGRAM EVERY IMAGINABLE PUBLIC POLICY ISSUE (OWEVER WE NONETHE- (Health Care) LESS APPEAR TO BE FURTHER FROM ANY SOLUTIONS !LL THE PUBLIC s Paul Horn $ISTINGUISHED 3CIENTIST IN 2ESIDENCE AT .EW POLICY ISSUES OF IMPORTANCE TO #%$ ARE CAUGHT IN A GRIDLOCK 9ORK 5NIVERSITY AND 3ENIOR 6ICE 0RESIDENT 2ESEARCH CAUSED IN LARGE PART BY THE POISONOUS POLITICAL ENVIRONMENT 2ETIRED )"- #ORPORATION Harnessing Openness). OF THE LAST DECADE &INALLY WE OBSERVE THAT FOR A VARIETY OF REASONS BUSINESS LEADERS AS A WHOLE ARE LESS WILLING TO BE 7E ALSO CONTINUED A VERY AGGRESSIVE OUTREACH AND IMPACT PART OF THE DEBATE THEN THEY WERE IN PAST DECADES AGENDA AROUND PREVIOUSLY COMPLETED #%$ REPORTS ON EARLY EDUCATION INTERNATIONAL STUDIES AND FOREIGN LANGUAGES 4O RESPOND TO THESE DEVELOPMENTS IN THE FUTURE #%$ WILL JUDICIAL SELECTION REFORM AND h-AKING 7ASHINGTON 7ORKv concentrate more of its efforts in forging advocacy coali- 7E ARE GRATEFUL TO THE MANY #%$ 4RUSTEES WHO CONTRIBUTED TIONS THAT WILL SEEK CONSENSUS SOLUTIONS TO THOSE ISSUES TO PRODUCING OUR REPORTS AND WHO HAVE INCREASINGLY PLAYED OF LONG TERM CONCERN 4HE HIGH QUALITY OF OUR RESEARCH A MAJOR ROLE IN PRESENTING #%$ REPORTS TO BUSINESS LEADERS AND REPORTS WILL BE MAINTAINED BUT OUR WORK WILL NOT BE LEGISLATORS THE MEDIA AND OTHER AUDIENCES AROUND THE CONlNED TO THEIR DEVELOPMENT AND DISSEMINATION 5SING COUNTRY 4O OUR 4RUSTEES AND OTHER SUPPORTERS WE THANK CREATIVE PARTNERSHIPS AND UNIQUE FORUMS WE WILL ACTIVELY YOU FOR YOUR MANY CONTRIBUTIONS TO OUR ORGANIZATION WORK TO lND THE COMMON GROUND NECESSARY FOR EFFECTIVE SOLUTIONS !S WE ENTER THE ELECTION YEAR IT TURNS OUT THAT ONCE AGAIN THE WORK OF #%$ 4RUSTEES IS EXTREMELY TIMELY (EALTH /UR UNIQUE ACCESS TO THE BUSINESS COMMUNITY OVER THE CARE WILL MOST LIKELY BE A DOMINANT DOMESTIC POLICY ISSUE IN PAST YEARS TOGETHER WITH THE COMMITMENT AND ACTIVE AND BEYOND 4HE CURRENT TURMOIL AND UNCERTAINTY IN INVOLVEMENT OF OVER BUSINESS 4RUSTEES GIVES US A BASIS DOMESTIC CREDIT MARKETS AND INTERNATIONAL CAPITAL MARKETS FOR THIS EXPANDED MISSION /UR GOAL IS TO CHANGE PUBLIC have implications for many of the corporate governance POLICY TO IMPROVE THE ECONOMIC OPPORTUNITY AND PROSPERITY ISSUES HIGHLIGHTED IN OUR REPORT ESPECIALLY ISSUES RELATED OF ALL !MERICANS WHILE RECOMMITTING MORE OF THIS COUNTRYS TO SHORT TERM THINKING IN CORPORATE DECISION MAKING /UR BUSINESS LEADERS TO A SENSE OF STATESMANSHIP AND PUBLIC PLANS FOR ARE TO PARTNER WITH OTHER ORGANIZATIONS leadership.
2 CED Annual Report 2007 CED President Charles E.M. Kolb (l), CED Co-Chair W. Bowman Cutter (c), CED Co-Chair Roderick M. Hills (r) around the country to ensure that CED’s work is not only Boston, New York, San Francisco, and Los Angeles, and highly visible but has maximum impact on America’s they involved small groups of senior business executives public policy agenda. who shared their own experiences concerning their involvement in public policy. We want to thank McKinsey Our 2007 outreach efforts involved an enormous number Director and CED Trustee Lenny Mendonca, and McKinsey of partners which resulted in more than 30 events around associates Andrew Whitehouse and Karen McKillop for the country in some 15 cities. CED became a founding their tireless efforts in this partnership. member of the Better Health Care Together coalition which has a goal of achieving comprehensive reform of our health Engaging the voice of business to drive public policy has care system by 2012. This coalition supports four key long been CED’s special niche. What we have learned principles of health care reform: from our work with McKinsey is that while time constraints preclude many top executives from active involvement, a • Every person in America must have quality, affordable signifi cant number of business leaders have expressed a health insurance coverage. desire to become engaged. During 2008, CED will use the • Individuals have a responsibility to maintain and McKinsey fi ndings to seek new ways of drawing current protect their health. and future business leaders into our work. We are also grateful to Ian Davis, McKinsey’s Worldwide Managing • America must dramatically improve the value it Director, for his extraordinary commitment to business receives for every health care dollar. statesmanship and for his forceful remarks on the subject at CED’s annual dinner where Ian received the 2007 Peter • Businesses, governments, and individuals all should G. Peterson Award for Business Statesmanship. contribute to managing and fi nancing a new American health care system. We remain concerned that the country will only succeed in tackling the major issues it faces if there is active business The other founding partners of the coalition are: Wal-Mart, leadership. CED enters its 66th year committed to activat- Intel, Kelly Services, AT&T, the Service Employees Inter- ing and sustaining that leadership. national Union, the Communications Workers of America, the Center for American Progress, and the Howard Baker Center for Public Policy. The coalition hosted forums in New York, NY, Washington, D.C., and Little Rock, AK, promoting health care reform, universal coverage, and W. Bowman Cutter methods to control costs. We believe that this coalition can Managing Director, Warburg Pincus, LLC help build broad public support for health care reform by: assisting employer-based education initiatives; identifying a group of public leaders – especially in the business commu- nity – who believe in common sense reform principles; and Roderick M. Hills highlighting innovations in the health care fi eld. Partner, Hills, Stern & Morley, LLP CED was also proud of its partnership with McKinsey & Company in a series of forums described earlier on why some business leaders engage in public policy and why others do not. These forums were held in Minneapolis, Charles E.M. Kolb President, Committee for Economic Development
CED Annual Report 2007 3 CED Releases Quality, Affordable Health Care For All: Moving Beyond The Employer-Based Health-Insurance System
)N THE BUSINESS !T THE 3AN &RANCISCO #! RELEASE LUNCHEON ON /CTOBER leaders of the Committee -R #HESS AND $R %NTHOVEN PRESENTED THE for Economic Development lNDINGS OF Quality, Affordable Health Care for All h4HERE addressed one of the largest ARE SUCCESSFUL MODELS FOR CONSUMER CHOICE OF INSURANCE PROBLEMS CONFRONTING FUTURE PLANS INCLUDING THE FEDERAL EMPLOYEES PLAN v SAID -R ECONOMIC GROWTH IN THE #HESS h4HE #%$ PROPOSAL BUILDS ON THE BEST OF THOSE 5NITED 3TATES COMPREHEN- IDEAS AND ADDS SOME NEW ONES TO ACHIEVE AFFORDABLE SIVE REFORM OF OUR HEALTH SUSTAINABLE QUALITY COVERAGE FOR ALL !MERICANS v ADDED CARE SYSTEM )N OUR VIEW Dr. Enthoven. George C. Halvorson +AISER &OUNDATION the employer-based health (EALTH 0LANS #%/ AND AUTHOR OF THE BOOK Health Care care system is failing. With Reform Now! DELIVERED KEYNOTE REMARKS AT THE 3AN health care costs rising faster &RANCISCO EVENT 4HE PANEL MODERATED BY Peter V. Lee, THAN WAGES QUALITY OF CARE #%/ 0ACIlC "USINESS 'ROUP ON (EALTH INCLUDED Dr. An- LOW AND ACCESS TO COVERAGE mol S. Mahal 0RESIDENT #ALIFORNIA -EDICAL !SSOCIATION DETERIORATING FUNDAMENTAL RESTRUCTURING OF THE CURRENT Sally Covington %XECUTIVE $IRECTOR #ALIFORNIA (EALTH HEALTH CARE SYSTEM IS NECESSARY )N /CTOBER Care Coalition; Jeffrey Mains !SSISTANT 6ICE 0RESIDENT CED released Quality, Affordable Health Care for All: (EALTH 0LANS !44 AND Dr. Harold S. Luft, Professor of Beyond the Employer-Based Health-Insurance System, (EALTH 0OLICY AND (EALTH %CONOMICS )NSTITUTE FOR (EALTH A REPORT THAT EXAMINES THE ORIGINS OF THE CURRENT CRISIS 0OLICY 3TUDIES 5NIVERSITY OF #ALIFORNIA 3AN &RANCISCO DISCUSSES THE LONG TERM ECONOMIC RAMIlCATIONS AND OF- fers viable recommendations for improving the system, 4HE 7ASHINGTON $# #APITOL (ILL FORUM WAS HELD ON ESPECIALLY BY FOCUSING ON THE ECONOMIC INCONSISTENCIES .OVEMBER AND FEATURED REMARKS FROM THREE OF A SYSTEM WHICH NOW ACCOUNTS FOR PERCENT OF 53 MEMBERS OF #ONGRESS WHO ARE WORKING ON HEALTH CARE GROSS DOMESTIC PRODUCT (EALTH CARE REFORM IS ALSO A REFORM LEGISLATION 53 3ENATORS Ron Wyden $ /2 AND CENTRAL ISSUE IN THE PRESIDENTIAL ELECTION Robert Bennett 2 54 AND #ONGRESSMAN Jim Cooper $ 4. %ACH STRESSED THE IMPORTANCE OF OVERHAULING #%$S REPORT EXAMINES THE FAILINGS OF OUR CURRENT SYSTEM OUR HEALTH CARE SYSTEM AND ALL THREE HAVE INTRODUCED AND RECOMMENDS A UNIVERSAL MARKET BASED HEALTH MAJOR HEALTH CARE REFORM LEGISLATION IN THE CURRENT INSURANCE SYSTEM 4HE REPORT WAS THE FOCUS OF TWO #%$ #ONGRESS 4HEIR LEGISLATION SHARES THE #%$ PRINCIPLE OF SPONSORED FORUMS n ONE ON THE %AST #OAST AND ONE ON COST CONSCIOUS CHOICE BY CONSUMERS THEMSELVES $R THE 7EST #OAST n IN LATE 4HE REPORT WAS PRODUCED %NTHOVEN AND #%$ 4RUSTEE William Lewis presented BY THE #%$ (EALTH #ARE 3UBCOMMITTEE CO CHAIRED BY #%$S lNDINGS AND RECOMMENDATIONS Robert Chess #HAIRMAN .EKTAR 4HERAPEUTICS AND Dr. Jerome Grossman 3ENIOR &ELLOW *OHN & +ENNEDY )N ADDITION TO RECEIVING INTEREST FROM KEY MEMBERS 3CHOOL OF 'OVERNMENT AND $IRECTOR OF THE (ARVARD+EN- OF #ONGRESS THE #%$ REPORT WAS FEATURED IN NUMER- NEDY 3CHOOL (EALTH #ARE $ELIVERY 0OLICY 0ROGRAM 4HE OUS MEDIA REPORTS ON HEALTH CARE REFORM INCLUDING A PROJECT DIRECTOR WAS Dr. Alain C. Enthoven -ARRINER COMPREHENSIVE DISCUSSION OF OUR RECOMMENDATIONS BY 3 %CCLES 0ROFESSOR OF 0UBLIC AND 0RIVATE -ANAGEMENT Washington Post AND SYNDICATED COLUMNIST $AVID "RODER %MERITUS AND A FACULTY MEMBER AT THE 3TANFORD 5NIVER- IN HIS 3UNDAY /CTOBER COLUMN h! -ARKET SITY #ENTER FOR (EALTH 0OLICY -AKE /VER FOR (EALTH )NSURANCEv
Senator Robert Bennett (R-UT) Senator Ron Wyden (D-OR) Congressman Jim Cooper (D-TN)
4 CED Annual Report 2007 “If you were running a business and your cost structure was 60% higher than your com- A press conference petitors, the quality of your product was no announcing the formation better, you couldn’t serve 15% of your cus- of the Better Health Care tomers, and you would probably fire the man- Together coalition was agement, bring in a turnaround team, and held in Washington, D.C., undertake an evaluation of the fundamental on February 6, 2007. approach to the way the company is run.” CED President, Charles Robert Chess Kolb, spoke on behalf of CED and stated, “As a business-led public policy “Employer insurance is failing because of organization, we have rapid cost increases and the inability to pro- long been concerned vide high-value care. CED’s report explains about the viability of our that quality, affordable universal coverage is rapidly eroding employer-sponsored health-insurance system. neither achievable nor sustainable unless we CED’s business Trustees believe a set of market-oriented, transform the delivery model. Health delivery incentive-based reforms can bring common sense to the systems need an independent but transparent health care reform debate.” regulatory process to achieve productivity and innovation. The CED plan is not Medicare also includes additional founding members AT&T, the for all, and it is not markets for all.” Howard H. Baker, Jr. Center for Public Policy, the Center Dr. Jerome Grossman for American Progress, the Communications Workers of America, Intel, Kelly Services, the Service Employees “We need a market system with cost-con- International Union (SEIU) and Wal-Mart. In mid-2007, scious, informed consumer choice – one in Manpower Inc., a CED-supporting company, joined the which new competitors can enter and which Better Health Care Together coalition. The coalition leads to aligned incentives for providers and convened a national summit in New York, NY, on May consumers to seek high-quality affordable 8, 2007, which featured a luncheon forum focused on care.” health care reform efforts in California and Pennsyl- vania. During lunch, Governor Edward G. Rendell of Dr. Alain Enthoven Pennsylvania and Governor Arnold Schwarzenegger of California addressed the coalition and guests. Both governors called for broad-based health care reform and “We have an inefficient, unfocused, unco- discussed the necessary leadership from the business ordinated, unlinked, perversely incentived community. The Better Health Care Together coalition care system for both acute and chronic care. has produced a set of principles for health care reform We reward incidents of care, not outcomes of care, and the system is built around the and set a target date of 2012 for a new health care incentives that are built for it. We have this system to be in place for all Americans. More informa- massively growing system that is growing at tion on the coalition can be found at www.betterhealth- random because of financial incentives – not caretogether.org. in response to the care needs of the patient.”
George Halvorson
The May 8, 2007 Better Health Care Together coalition forum in New York City featured a detailed discussion of health care reform efforts in Pennsylvania and California. Pennsylvania Governor Edward G. Rendell (at podium) and California Governor Arnold Schwarzenegger (via satellite) provided updates and took questions from leaders of the Better Health Care Together coalition.
CED Annual Report 2007 5 CED Releases Global Imbalances Report
On September 7, 2007, CED are unsustainable and, if not corrected, signifi cantly released Reducing Risks raise the risks of fi nancial and economic instability and from Global Imbalances. the resurgence of protectionist trade policies. This report examines the risks from global fi nancial “Bringing the benefi ts of globalization to all economies and trade “imbalances” and also requires a better international multilateral program offers recommendations on to protect against imbalances. This report offers recom- how to reduce their threat to mendations for both the United States and our trading the world economy. Since partners that will – if adopted – avoid shocks and lead the release of the report to a healthier global economy,” said Joseph Kasputys, at the National Press Club Chairman, President and CEO, Global Insight. in Washington, D.C., the Turmoil in the credit markets has been the leading global economy has suf- business story of 2008. Although completed before fered several shocks – most the onset of the credit crunch, CED’s global imbalances notably the collapse of the statement offers several sensible recommendations for U.S. sub-prime lending market which has affected U.S. the United States and its trading partners that remain capital market liquidity. The report stresses the need for highly relevant despite being obscured by short-term better cooperation among economic policy makers in all measures to add liquidity to the banking system and countries. stimulate the economy. The United States, for example, “This report offers recommendations that we believe will must remain committed to a credible long-term path of reduce the risks of global economic shocks. Our recom- fi scal balance and increased national savings. China, mendations of a multilateral cooperative approach to ad- on the other hand, must take steps to boost domestic justment are in the interests of each country. They not spending, provide a social safety net for its citizens, and only advance the global economy, but also allow each increase exchange-rate fl exibility. Europe and Japan nation’s economy to grow,” said William McDonough, must continue to refrain from currency intervention former President and CEO, Federal Reserve Bank of New and should accelerate the pace of structural market York, and current Vice Chairman and Special Advisor to reform. In order to increase imports and curb domestic the Chairman, Merrill Lynch & Co. infl ation, the Gulf Cooperation Council (GCC) countries should either revalue their currencies against the dollar Reducing Risks from Global Imbalances examines the or switch to a currency peg based on a basket of cur- sources of the current large global fi nancial and trade rencies. Finally, the International Monetary Fund (IMF) imbalances, and makes recommendations that, if must do more to facilitate an orderly global imbalance adopted, will help ensure continued growth in the global adjustment. Reducing Risks from Global Imbalances can economy. The report argues that the large imbalances be found at www.ced.org/projects/globalization.shtml.
Joseph Kasputys (l) and William McDonough (r), co-chairs of CED’s International Financial Imbalances Subcommittee, which produced the report. They presented the fi ndings and recommendations of the report at the release luncheon in Washington, D.C., on September 7, 2007
6 CED Annual Report 2007 Corporate Governance 2007: Built to Last
Built to Last: Focusing Corporations on Long-Term Performance The Committee for Economic Development has, throughout its history, worked to improve governance practices in U.S. corpora- tions. Corporate governance is an important fi nancial issue that CED’s seasoned business leaders are uniquely qualifi ed to address. Many of CED’s Trustees have been concerned about an increasingly short-term focus by many company leaders that is damaging the ability of public companies to achieve greater long-term performance. This trend undermines growth in the American economy. That is the message of a new CED report, Built to Last: Focusing Corporations on Long-Term Perfor- mance.
The report was released on June 27, 2007, in New York, NY, and featured a keynote speech by William Donaldson, former SEC Chairman. Mr. Donaldson is the Chair of CED’s Subcommittee on Corporate Governance, which produced the report. A panel of corporate governance experts then took part in the release event. The report offers recommendations for corporations to improve performance by focusing on long-term goals, and Mr. Donaldson believes an end to “short-termism” is necessary. “Short-termism” is defi ned as an undue focus on meeting quar- terly forecasts and a lesser emphasis on long-term planning.
Interest in the CED short-termism report has been steady. Mr. Former SEC Chairman William Donaldson Donaldson has given several interviews to print media and presents the recommendations of CED’s new report appeared on cable television business programs to discuss im- and urges an end to “short-termism” in corporate proving corporate governance. Additionally, he was a featured America. Mr. Donaldson is Chairman and CEO of speaker at the closing session of the National Association of Donaldson Enterprises. Corporate Directors on October 16, 2007, in Washington, D.C.
The panel at the Built to Last: Focusing Corporations on Long-Term Performance release luncheon (l to r): William Donaldson, Chairman, Donaldson Enterprises; CED Trustee Pat Gross, Chairman, The Lovell Group; CED Trustee Cono Fusco, Managing Partner of Strategic Relationships, Grant Thornton LLP; and Jeff Diermeier, President and CEO, CFA Institute
CED Annual Report 2007 7 2007 CED Annual Gala Awards Dinner
CED saluted corporate leadership in public policy at the 2007 CED Distinguished Perfor- mance Awards Dinner, held May 22, 2007, in 2007 CED New York, NY. Four business leaders who take Distinguished Performance an active role in shaping public policy were Awardees recognized for their work. The Distinguished Awards Dinner is the high- light of CED’s Annual Meetings, held each May at the Walforf=Astoria Hotel. Each year CED recognizes those business leaders who have made important contributions to the strength of CED’s international and domestic programs.
In his welcoming remarks, CED President Charles Kolb said, “The past year has been an extremely good year for CED. Our fi nances are strong; our policy agenda is full; and we were highly visible around the country and in the media. In 2006, we took CED on the road – more than we ever have before – with 32 events in 14 cities, plus several events in New York and Washington.” Toyota Motor North America IBM Corporation James E. Press, President Samuel J. Palmisano, Chairman, CED’s work has long been characterized by Distinguished Performance Award President and CEO the active engagement of senior leaders in the for Global Leadership Distinguished Performance Award for American business and academic communities Corporate Citizenship who focus on issues that benefi t the country and not just corporate profi ts. The 2007 award dinner theme of “corporate leadership in public policy” has characterized CED’s work going back to the Marshall Plan in the late 1940s, right up to today’s work on money and politics, education, trade, health care reform, and the nation’s overall fi scal health.
Ian Davis, Worldwide Managing (PRODUCT)RED, Director, McKinsey & Company Bobby Shriver, CEO Peter G. Peterson Award Distinguished Performance Award for Business Statesmanship for Excellence in Public Policy
More than 300 people attended the Awards Dinner.
8 CED Annual Report 2007 2007 CED Annual Gala Awards Dinner
Toyota Motor North America President James Press (l), received the CED Distinguished Performance Award for Global Leadership from CED Trustee Sam DiPiazza, Jr., CEO of PricewaterhouseCoopers International Limited.
(l to r): W. Bowman Cutter, CED Co-Chair; James E. Press, Toyota Motor North America; Samuel J. Palmisano, IBM Corporation; Charles E.M. Kolb, CED President; Bobby Shriver, (PRODUCT) RED; Ian Davis, McKinsey & Company; Roderick M. Hills, CED Co-Chair
The pre-dinner reception each year provides an opportunity for the CED Rajat Gupta (l), awardees to meet with CED Trustees. former Managing Director of McKinsey & Company, presented Samuel Palmisano, the CED Distinguished Chairman, President Performance Award for and CEO, IBM Excellence in Public Corporation (l) Policy to (PRODUCT)RED with Ian Davis, CEO Bobby Shriver. Worldwide Managing Director, McKinsey & Company
(PRODUCT) RED CEO Bobby Shriver (l) and CED Trustee Pete CED President Peterson (l), Senior Charles Kolb Chairman, The Blackstone Group, presented Ian Davis, Worldwide Managing Director, McKinsey & Former SEC Company, with CED’s Chairman and CED Peter G. Peterson Co-Chair Roderick Award for Business Hills (l), and Carla Statesmanship. Hills, former U.S. Trade Representative, and former Secretary of Housing and Urban Development.
CED Annual Report 2007 9 Business and Academic Leaders Endorse CED Foreign Language Studies Project
CED Trustees and Colleagues Support Effort to Close the Language Gap CED continues its work to improve foreign language education in the United States. An infl uential group of seventy-six leaders from business and higher education have endorsed the recommendations of the 2006 CED statement, Education for Global Lead- ership: The Importance of International Studies and Foreign Language Educa- tion for U.S. Economic and National Security. The report warns that the U.S. will skills is vital to national security. Since its February become less competitive in the global economy because 2006 release, Education for Global Leadership, has been of declining quality foreign studies and language educa- downloaded from CED’s web site almost 20,000 times, tion at the college and high school level. Additionally, making it the most accessed CED report of the past two the American public’s defi ciency in foreign languages years. Our work on this subject can be found at www. and cultures is hampering efforts to counter terrorist ced.org/projects/educ_forlang.shtml. threats. In the words of the CED statement, “In order On January 25, 2007, Michael Petro, CED Vice Presi- to confront the twenty-fi rst century challenges to our dent, testifi ed on the critical importance of international economy and national security, our education system education before the Senate Committee on Homeland must be strengthened to increase the foreign language Security and Governmental Affairs Subcommittee on skills and cultural awareness of our students. America’s Oversight of Government Management, the Federal continued role as a global leader will depend on our Workforce, and the District of Columbia. students’ abilities to interact with the world community both inside and outside our borders.”
Recommendations in Education for Global Leadership include:
• Teaching international content across the cur- riculum and at all levels of learning to expand American students’ knowledge of other coun- tries and cultures.
• Expanding the training pipeline at every level of education to address the paucity of Americans fl uent in foreign languages, especially critical, less-commonly taught languages.
• Engaging national leaders – political leaders as well as the business and philanthropic com- munities and the media – to help educate the public about the importance of quality foreign language and culture studies to our future eco- nomic growth.
The CED report notes that, in addition to the economic value of workers who are fl uent in at least one foreign Michael Petro, CED Vice President, testifi es before Senate language, a pool of workers with foreign-language panel on the importance on foreign language education
10 CED Annual Report 2007 Public Leadership: The Difference CEOs Can Make
In February 2007, CED, in partnership with McKinsey & • Time constraints preclude them from playing an Company, launched a research and outreach campaign even larger role, but having a strong network of designed to increase CEO engagement in public leader- peers who share their interests makes it easier ship issues. While business leaders are uniquely quali- for them to engage. fi ed and positioned to make a substantial impact on the major public challenges facing the American economy To further CED’s commitment to engage business lead- – such as health care, the environment, global poverty, ers in public policy, CED, in partnership with McKinsey the budget, and trade defi cits – relatively few executives & Company, hosted CEO roundtables in Minneapolis, actually play an active role in developing public policy. San Francisco, Boston, Los Angeles, and New York. The roundtables have involved many leading business states- “Where have all of the business statesmen gone?” This men including: Harold Williams, President Emeritus, J. is a question posed by former Commerce Secretary Paul Getty Trust and former SEC Chairman; Ferdinand Peter G. Peterson, business columnist Jeffrey Garten, Colloredo-Mansfeld, Partner, Cabot Properties, LLC; and Wall Street Journal writer David Wessel, McKinsey & Lenny Mendonca, Chairman, McKinsey Global Institute Company’s Ian Davis and Matt Miller, the New York and Director McKinsey & Company. The forums have Times columnist Tom Friedman, and others. CED seeks included guest speakers such as: Bob Corcoran, Chief to explore important questions on the role of business Learning Offi cer and Vice President of Corporate Citizen- statesmen in public leadership: Which issues are the ship, GE and former head of the innovative “Crotonville most important? What encourages CEOs to become Leadership Facility;” Leo Hindery, author of the book It engaged? What factors are barriers to public engage- Takes a CEO: It’s Time to Lead with Integrity; Dick Rosen- ment? berg, former CED Trustee and CEO, Bank of America; and John Bryson, Chairman, President & CEO, Edison A McKinsey survey of U.S. executives, which included International. CED Trustees, conducted over the past year found that nearly half believe executives should play a leader- ship role in addressing public issues. Only 5% believe business leaders should play no role at all. However, many of the executives surveyed said that they lack the resources, time or knowledge to engage effectively, with approximately 30% supportive of executives taking a leadership role on public issues but not doing so themselves today – the so-called “latent leaders”. Health care, education, foreign policy, the environment, energy, security and economic inequality were cited by execu- tives as critical to the long-term economic health of their companies.
Major fi ndings from the McKinsey leadership survey include:
• U.S. executives believe they need to play a greater role in shaping public policy debates and leading change.
• Those executives who do play a leadership role are likely to be board members or CEOs, often at privately held companies with annual rev- enues below $1 billion.
• Most CEOs who do engage are motivated pri- marily by personal reasons and usually act as private citizens. Lenny Mendonca, Chairman, McKinsey Global Institute and Director, McKinsey & Company
CED Annual Report 2007 11 Making Washington Work – 2007
There is a growing broad sense among Democrats and When the Committee for Economic Development Republicans alike that “Washington is broken” – our released the fi rst fi ndings of its project on “Making political leaders are failing to address the country’s Washington Work” in November, 2006, we described fundamental economic and social needs. After the 2006 our goal: “…to understand why the political process Congressional elections, the new House Speaker, Nancy in Washington, D.C., is failing and to propose and Pelosi, and Senate Majority Harry Reid began a process advocate policies and/or laws that can make the system aimed at restoring public trust in Washington, but much work.” We fi rmly believe that serious action on all of the more needs to be done. President George W. Bush has issues we have considered – campaign fi nance reform, had three and a half years of approval ratings below 50 ethics and lobbying, redistricting, earmarks, and the percent. But almost a year into its new leadership, and legislative process – is critical. Working through CED’s despite efforts to change the public’s perception, Con- Making Washington Work Subcommittee, co-chaired by gress is still viewed in national surveys by major news- Roderick M. Hills and W. Bowman Cutter, who are also papers and polling fi rms with even lower marks than CED’s Co-Chairs, and Edward Kangas, Global Chairman the President. Fewer than one in four voters approve of & CEO (Retired), Deloitte Touche Tohmatsu, we seek to the job Congress is doing. Candidates for President and raise every citizen’s awareness of this breakdown of gov- Congress continually speak of the need for “change” in ernment performance, which threatens the achievement Washington. Change means different things to different of every other objective that we seek for the country. people, but there is widespread agreement that America needs major reforms to the way business is done in the nation’s capital. CED frames the issue this way:
Washington is broken. Civic debate has become un- civil invective; analysis has been displaced by ideol- ogy; and vital public issues are not solved, but rather stored for future partisan use. Our political system has not addressed the rising public debt, ballooning and crippling health-care costs, a looming Social Security shortfall, and serious energy and environ- mental problems. Efforts to deal with our educational system are woefully inadequate. If our political sys- tem cannot confront these visible challenges, where will it fi nd the reserves of comity and trust to face the unknown crisis that can erupt at any time?
— From Washington IS Broken: So what are you going to do about it? CED statement, January 23, 2008
Making Washington Work Subcommittee Co-Chairs (l to r) Edward Kangas, Bo Cutter, and Rod Hills
12 CED Annual Report 2007 Judicial Selection Reform – 2007 CED Efforts
CED was again at the forefront of efforts to protect the American judiciary from the undue infl uence of money and politics. In May, CED released the results of a new poll: Attitudes and Views of American Business Leaders on State Judicial Elections and Political Contributions to Judges. The fi ndings were the focus of a May 17, 2007, luncheon event co-sponsored by CED and Justice at Stake at the National Press Club in Washington, DC. The release of the poll was complemented by the release of a new report from Justice at Stake. The New Politics of Judicial Elections 2006 documents how business Panel (left to right) Debbie Champion, groups have recently become the dominant force in Bob Holden, Michael Petro, Wayne state judicial election campaigns, through donations and Withers, Bert Brandenburg (at podium). independent expenditure campaigns. Roger Warren, Board Chair, Justice at State, Jesse Rutledge, Director of Communications, Justice at Stake, James Sample, In Saint Louis, MO, CED Vice Counsel, Brennan Center for Justice, and Rachel Weiss, President Michael Petro presented Communications Director, National Institute on Money the case for business community in State Politics, discussed the key fi ndings from the support of judicial selection reform. report. Fritz Wenzel, Director of Communications, Zogby International, presented the survey fi ndings. Judicial impartiality has been an important issue for CED Matters to the Business Community.” The forum in- for many years. In 2002, CED released Justice for Hire: cluded 100 business and policy leaders in St. Louis, and Improving Judicial Selection, a report warning that the a distinguished panel of experts from across Missouri. system for electing state and local judges is undermining The last few years have seen an upsurge in judicial judicial independence and impartiality in addition to campaign requests for business donations. The St. Louis jeopardizing public confi dence in state courts. luncheon discussed judicial reforms, including current On December 11, 2007, in St. Louis, MO, CED joined efforts to protect Missouri’s fi rst-in-the-nation merit with Missourians for Fair and Impartial Courts, the selection system. Panelists analyzed state and national Missouri Law Institute, and Justice at Stake to host a trends, recent polling, legislative proposals, and pros- bi-partisan forum on “Why a Fair and Impartial Judiciary pects for 2008 and beyond. The event featured keynote remarks by CED Trustee Landon Rowland, Director & Chairman Emeritus, Janus Capital Group and Former President & CEO, Kansas City Southern Industries Inc. Bert Brandenburg, Executive Director, Justice at Stake, moderated the panel that included: Bob Holden, Former Governor of Missouri and Chairman, The Holden Group, LLC; Wayne Withers, Special Legal Advisor to Emerson Electric Company and President, Missouri Law Institute; Michael Petro, CED Vice President; and Debbie Champion, Member, St. Louis County Judicial Commission. Landon Rowland described the importance of protect- ing the courts from political attacks. “We all have the responsibility to work to keep the judiciary independent. The kind of impartial judiciary we are working to protect is part of an important economic development engine in this country. This independent judiciary ensures the impartiality of commercial and personal transactions to avoid bribery and self-dealing.” Justice at Stake’s Bert Brandenburg announced new poll- ing data showing that 71percent of Missourians polled Taking part in the conference were (l to r): support merit-selection, or the “Missouri Plan.” An James Sample, Rachel Weiss, Bert Brandenburg, analysis of survey respondents reveals that the support Jesse Rutledge, Charles Kolb, Roger Warren for merit selection is strong and bipartisan.
CED Annual Report 2007 13 CED and Early Education: A Busy 2007
Annual Conference: Building the Economic Speakers at the March 2007 Early Education Conference included: Case for Investments in Children The Committee for Economic Development and several active George Kaiser partners continued to press President & CEO Kaiser-Francis Oil the argument that improving America’s early education programs is vital for our citizens and our economy. On March 7, 2007, the Partnership for America’s Economic Success, with support from CED and PNC Financial Services Group, Inc., hosted the annual con- ferene, Building the Economic Case for Investments in Children at the National Press Club in Washington, D.C. Over 200 Susan Urahn business leaders, policymakers, and members of the non- Managing Director profi t community convened to discuss how investments State Policy Initiatives in children can improve America’s workforce and future Pew Charitable Trusts economic well-being. The all-day session focused on ways the business community can improve early education in the United States and get more business leaders involved with the issue. Speakers included: George Kaiser, Presi- dent & CEO, Kaiser-Francis Oil; Shirley Raines, President, University of Memphis; Brian Gallagher, President and CEO, United Way of America; and Robert Dugger, Manag- ing Director, Tudor Investment Corporation. Speakers at the conference repeatedly pointed out that investments in early education pay dividends as children perform better Brian A. Gallagher in school, get into college, and ultimately become produc- President and CEO tive members of the American workforce. United Way of America The Partnership for America’s Economic Success (PAES) funds the Invest in Kids Working Group which continues to provide research on the benefi ts of early childhood education. The group is chaired by CED Trustee Robert Dugger, who also serves at the Chairman of the PAES Advisory Board. For more information on the Partner- ship, visit www.partnershipforsuccess.org. CED’s work on early childhood education and the role of business leaders can be found at www.ced.org/projects/prek.shtml. Daniel Pederson President The Buffett Early Childhood Fund
14 CED Annual Report 2007 2007 Early Education Outreach in early learning, and the involvement of Blue Cross/Blue Shield of North Carolina with early education programs. In 2007 CED expanded its efforts to encourage business Additional speakers included Kit Cramer, Vice Presi- leaders to champion better early education programs dent, Economic Development, Charlotte Chamber of for America’s youngest citizens. With generous funding Commerce; Stephanie Fanjul, President, Smart Start; from the Buffett Early Childhood Fund, CED took the Charles Kolb, President, Committee for Economic message of the economic benefi ts of investments in Development (CED); Barry Matherly, Executive Director, early childhood education to MBA students at some of Lincoln Economic Development Association; Jocelyn America’s premiere business schools. CED is helping Sargent, Program Director, W.K. Kellogg Foundation; engage business leaders to support children and families Louise Stoney, Co-Founder, Alliance for Early Childhood in their communities. Such programs directly benefi t Finance; and Ashley Thrift, Chair, The North Carolina local workers. Partnership for Children, Inc.
Additional funding for CED-hosted forums to discuss Working in partnership, CED, Smart Start, and the issues related to early childhood education came from Charlotte Chamber greatly increased the forum’s impact. the W.K. Kellogg Foundation. For the Raleigh-based state-wide Smart Start offi ce, collaborating with CED and the Charlotte Chamber on Charlotte, NC this event provided an excellent entrée point to Charlotte On October 26, 2007, CED, Smart Start, and the business, civic, and non-profi t leaders. Stephanie Fanjul, Charlotte Chamber of Commerce hosted a luncheon who became Smart Start’s president in early 2007, forum which highlighted the importance of investing in highly valued the opportunity to introduce herself to high-quality early education programs in North Carolina, this community. Media coverage of the North Carolina while also addressing alternative funding measures. The forum allowed CED, Smart Start, and the Charlotte forum, which attracted over 70 local business, civic and Chamber to take its message about the importance of education leaders, was the second in a series CED is investments in early childhood education to a larger hosting with the generous support of the W.K. Kellogg audience. Additionally, CED Trustee Bertram Scott, Foundation. President, TIAA-CREF Life Insurance Company, and CED President Charles Kolb co-authored an op-ed piece CED welcomed Robert J. Greczyn, Jr., CEO of Blue Cross – “Early Investment Pays Off, for Kids as well as Compa- Blue Shield NC, as the keynote speaker. Mr. Greczyn nies” – for the Charlotte Observer and Charlotte Business emphasized the business case in support of investments Journal that ran the week of the event.
Kit Cramer, Vice President, Economic Development, Charlotte Chamber of Commerce, shows her support for public school Robert Greczyn, Jr., CEO of Blue Cross Blue Shield NC bond reform which would increase funding of early education programs in North Carolina. Stephanie Fanjul, President, Smart Start, was a panelist and outlined her organization’s support for quality early education programs.
CED Annual Report 2007 15 CED Trustee In Green Bay, WI, Robert Dugger, Lieutenant Governor Managing Director, Barbara Lawton Tudor Investment outlined early Corporation, took education efforts in part in the Stanford that state. University event and has been a national leader of the effort to improve early education programs for American children.
CED Trustee Robert Joss, Dean, Stanford University Graduate School Green Bay, WI of Business, welcomed On November 30, 2007, CED, along with 24 other spon- guests at CED’s fi rst early education forum targeted sors, hosted the northeast Wisconsin regional economic to graduate business summit Forward with our Children: Investing Early in our school students, who will Future Workforce. Over 300 business, non-profi t, and civic be tomorrow’s corporate leaders fi lled the Kress Center at the University of Wiscon- statesmen. sin - Green Bay to participate in this luncheon program, which was made possible with support from the Buffett Early Childhood Fund.
Keynote speaker David Lawrence, President, Early Childhood Initiative Foundation and retired Publisher, the Miami Herald, stressed the importance of investing in the country’s youngest children and shared examples of successful efforts to improve early childhood education in Palo Alto, CA south Florida. Other national speakers included Barbara Lawton, Lieutenant Governor, State of Wisconsin; Charles On November 28, 2007, CED brought the message of Kolb, CED President; Michael Burke, Program Director, the economic benefi ts of high quality early education for Buffett Early Childhood Fund; and Roberta Gassman, all to Stanford University Graduate School of Business Secretary, Wisconsin Department of Workforce Develop- (GSB) students, who will be the next generation of busi- ment. ness leaders. The Stanford luncheon forum was attended by over 60 people and gave tomorrow’s corporate states- The local business voice was represented by Nancy men an opportunity to engage with business, civic, and Armbrust, Vice President of Education and Community non-profi t leaders currently addressing this critical issue. Relations, Schreiber Foods; Jon Stellmacher, Executive Vice President and Chief Administrative Offi cer, Thrivent Keynote speaker Robert Dugger, CED Trustee and Financial for Lutherans; and Mark Skogen, President and Managing Director, Tudor Investment Corporation, CEO, Festival Foods. participated live via satellite and issued a call to action to the Stanford students to recognize the important voice The summit motivated people from the public, non-profi t, business leaders bring to public policy discussions and and private sectors to develop ways to work together to to engage in the issues. Dr. Judy Cameron, Professor of strengthen early education in their region. Evaluations Behavioral Neuroscience at the Oregon Health and Sci- completed by summit attendees indicated how impressed ence University, underscored how early life experiences they were that the event brought together representa- strongly impact future brain development. tives of government, education, business, and the local community because, as one attendee noted, it will take This event was hosted by CED and the Stanford Univer- a partnership between all these sectors “to make this sity GSB Education Club with generous support from the work.” Attendees left the summit charged and eager to be Buffett Early Childhood Fund. involved in local follow-up activities.
16 CED Annual Report 2007 CED and The Metlife Foundation Team to Improve U.S. Education System ContinuingC a valuable partnership, the Committee for Economic Development and The MetLifeM Foundation are working to promote the recommendations of the 2006 MetLife SurveyS of the American Teacher: Expectations and Experiences. CED has hosted three urban forumsf focused on the Survey, and three more will be held in 2008. The goal is to promote thet alignment of teacher education programs and classroom practice, to develop and enhancee new teachers’ skills, and to strengthen relationships between schools, teachers, studentss and families.
TThough 90 percent of teachers eexpress satisfaction with their jjobs and the current state of tteaching, the MetLife Survey oof the American Teacher fi nds tthat a lack of preparation and support foforr instructors threatensthr to undermine current retention efforts. Communities around the country struggle with climbing rates of turnover. This turnover costs the country $7.3 billion per year in extra recruit- ing, hiring, and training of new staff according to a new report from the National Commission on Teaching and America’s Future. 150 teachers, students, business and civic leaders joined for a discussion focusing on teacher training and retention at the Philadelphia, PA, CED-MetLife Foundation Forum
CED Event Honors Life and Work of Albert Shanker On November 27, 2007, CED and the Century Foun- dation hosted a discussion in New York, NY, about Richard Kahlenberg’s new book, Tough Liberal: Albert Shanker and the Battles Over Schools, Unions, Race, and Democracy. The book tells of Albert “Al” Shanker, the legendary President of the American Federation of Teachers. Discussants included Sol Hurwitz, CED President Emeritus; Eugenia Kemble, Executive Direc- tor of the Albert Shanker Institute; Bella Rosenberg, an education consultant and former adviser to Shanker; Diane Ravitch, Professor of Education at New York University; and Randi Weingarten, President of the United Federation of Teachers.
Mr. Shanker’s legacy includes numerous accomplish- Author Richard Kahlenberg (l), CED President Charles Kolb ments, not the least of which was his decision to (c), and former U.S. Assistant Secretary of Education Diane approach the business community and engage them in Ravitch (r) at the Albert Shanker discussion event the education sector. In 1980, Shanker contacted then CED President Hurwitz, thus taking the fi rst step in an unprecedented relationship between education and business leaders. The benefi ts of that unique relationship can be seen today, as CED continues to research and support key education policies.
CED Annual Report 2007 17 CED New Trustee Profi le
Carol A. Melton Executive Vice President Global Public Policy Time Warner Inc.
In 2007, the Committee for Economic Development wel- comed new CED Trustee Carol A. Melton of Time Warner Inc. Carol Melton became Executive Vice President for Global Public Policy of Time Warner Inc. in June 2005. She is a member of Time Warner’s senior management team and is responsible for overseeing Time Warner’s domestic and international public policy operations, including offi ces in Washington, D.C., London, Brussels and Hong Kong. Her portfolio encompasses all of the company’s divisions, including Time Warner Cable, Turner Broadcasting, HBO, Warner Bros., Time Inc. and AOL. As Time Warner’s chief policy strategist, she works closely with these divisions worldwide in managing issues connected to their business activities, including matters relating to interactive services, fi lmed entertainment, television networks, publishing and cable systems. Previously in her career, Ms. Melton until 1997 had served at Time Warner as Vice President for Law and Public Policy, having joined the company initially as Washington Counsel for Warner Communications Inc. in 1987. Carol A. Melton Executive Vice President, Global Public Policy Before her return to Time Warner, Ms. Melton worked Time Warner Inc. for Viacom Inc. from 1997 to 2005, overseeing all of its government relations activities. As Viacom’s Executive Vice President for Government Relations, she managed policy issues in the U.S. and abroad for that company’s business operations, including CBS, Paramount, MTV the Potomac School, the Federal Communications Bar Networks, Showtime and Simon & Schuster. Association Foundation, and the Washington Performing Ms. Melton has also served as Legal Advisor to the Chair- Arts Society. Ms. Melton received the prestigious NCTA man of the Federal Communications Commission for Vanguard Award for Government Relations in 2008, cable, broadcast and other mass media issues. Prior to which recognizes individuals who have had a signifi cant joining the FCC, she served as Assistant General Counsel impact in advocating public policy positions for the cable for the National Cable & Telecommunications Associa- industry. In 2006, Washingtonian magazine named Ms. tion and was a lawyer in the Washington, D.C. offi ce of Melton one of its “Top 100 Most Powerful Women in Hogan & Hartson. Washington.”
Ms. Melton is a member of the Council on Foreign Ms. Melton earned a B.A. degree with honors from Wake Relations and the Federal City Council. She has served Forest University, an M.A. in Journalism and Communi- previously on the Board of Directors of the National As- cations from the University of Florida, and a J.D. with sociation of Broadcasters and on the Boards of Trustees honors from the Washington College of Law at American of the Media Institute, the Meridian International Center, University.
18 CED Annual Report 2007 2007 Selected CED Events
January 25 – San Francisco, CA Feb 21 – Minneapolis, MN Economic Success, and PNC Financial Services sponsored an all-day confer- Health care reform discussion with San CED President Charles Kolb and Lenny ence that focused on early education Francisco area business leaders. CED Mendonca, Director, Co-Founder of topics. Over 200 business leaders fi nalized the Quality, Affordable Health Public Sector Practice & Chairman, and education experts gathered at the Care for All report and convened a dis- McKinsey Global Institute, McKinsey National Press Club to discuss progress cussion on the viability of the employer- & Co., presented fi ndings from the in local, state, and national efforts to based health care system. Taking part CED-McKinsey survey on the role of establish universal, high-quality pre- in the working session from CED were: “CEOs as Public Leaders” to the Itasca kindergarten for all American children. CED President Charles Kolb; CED Project group in Minneapolis. Itasca Speakers included many of the top early Trustee Lenny Mendonca, Chairman, Chairman Jim Campbell, Former childhood education and care experts McKinsey Global Institute, McKinsey & Executive Vice President of Wells Fargo, in the world, including: George Kaiser, Company, Inc.; and health care Project and Mary Brainerd, President and President & CEO, Kaiser-Francis Oil; Director Alain Enthoven, Professor CEO, HealthPartners, also delivered Shirley Raines, President, University of Emeritus at Stanford University. remarks. The Itasca Project convenes Memphis; Brian Gallagher, President regional business leaders, key elected January 25 – Washington, D.C. and CEO, United Way of America; and offi cials and university representatives Robert Dugger, Managing Director, CED Vice President Michael Petro testi- monthly to discuss regional economic Tudor Investment Corporation. Several fi ed on the importance of improving growth and policy issues. Regional speakers at the all-day conference international education and language business leaders felt strongly that pointed out that investments in early studies in the U.S. before the Senate reliable data and extremely effi cient education pay huge dividends as the Committee on Homeland Security and use of limited time are essential to children perform better in school, get Governmental Affairs Subcommittee keep business leaders engaged in into college, and ultimately become on Oversight of Government Manage- public policy issues. Approximately productive members of the American ment, the Federal Workforce, and the 35 members of the Itasca Project, workforce. A 2006 Zogby International District of Columbia. Mr. Petro outlined attended the event including several poll commissioned by CED found that CED’s work on this issue and noted that companies: Metropolitan Council, St. American business leaders overwhelm- government workers fl uent in foreign Paul Travelers, Home Value, Business ingly back public funding for prekinder- languages are vital to national security. Journal, HealthPartners, University of garten for all children to keep the U.S. Minnesota, 3M, Wells Fargo, Padilla economy globally competitive. February 6 – Washington, D.C. Spear Beardsley, City of St. Paul, Medtronic, Unity Avenue, US Bancorp, March 8 – San Francisco, CA The Committee for Economic Develop- Piper Jaffray, Split Rock Partners, ment is a founding member of the Pentair, UnitedHealth Group, Hubbard Charles Kolb and Lenny Mendonca, Better Health Care Together (BHCT) Broadcasting, Andersen Corporation, Director, Co-Founder of Public Sector coalition and CED President Charles Regis Corp., Xcel Energy, Virteva, Practice & Chairman, McKinsey Global Kolb was a featured speaker at the Keewaydin Real Estate Advisors, Xcel Institute, McKinsey & Co., presented press conference announcing the Energy, MNSCU, Minneapolis Star fi ndings from the survey on the role formation of the group. The event, held Tribune, Carlson Companies, Nelson of “CEOs as Public Leaders” to the Bay at the Capitol Hill Hyatt Hotel, attracted Tietz & Hoye, Thrivent Financial for Area Council. Meeting participants two dozen reporters and also featured Lutherans, SuperValu, Key Investment, included Dick Rosenberg, former CED remarks from Andrew Stern, President State of Minnesota, Allina, St. Paul Trustee and CEO of Bank of America. of the Service Employees International Pioneer Press, Ryan Companies, City Other participants included representa- Union (SEIU); Lee Scott, President and of Minneapolis, Greater Twin Cities tives from Bechtel Group, Inc., The Chief Executive Offi cer, Wal–Mart, Inc.; United Way, Minnesota Wild, Northwest Citigroup Private Bank, Visa Interna- John Podesta, former White House Airlines, Cargill, Taylor Corporation, tional, Nektar Therapeutics, McKinsey & Chief of Staff and current President Sailforth Inc., Tunheim Partners, RBC, Company, Inc., Electric Power Research and CEO of the Center for American McKinsey & Co., McKnight Foundation, Institute, Kaiser Foundation Health Plan, Progress; and the Honorable Howard and Jefferson Lines. Inc., Alliance of CEOs, AT & T West, Baker, former U.S. Senator (R–TN) Catholic Healthcare West, Dreyer’s representing the Howard H. Baker, March 7 – Washington, D.C. Grand Ice Cream, New Enterprise Jr. Center for Public Policy. All are Associates, Oakland Chamber of Com- founding members of BHCT, along with Building the Economic Case for merce, AAA-California State Automobile AT&T, the Communications Workers of Investments in Preschool Conference. Association, and Lockheed Martin. America, Intel, and Kelly Services. CED, the Partnership for America’s
CED Annual Report 2007 19 2007 Selected CED Events
April 25 – Philadelphia, PA Inc.; Linda Smith Wilson, President May 23 – New York, NY Emerita of Radcliffe College; and CED, MetLife Foundation, and Carol Goldberg, President of The CED sponsored a luncheon forum at the Philadelphia Education Fund AVCAR Group Ltd. Other participants the 2007 Annual Meeting on “Public convened the fi rst of six national included representatives from The Beal Leadership: The Difference CEOs Can forums on the MetLife Survey of the Companies, LLP, Strategies for Children, Make” at the Waldorf=Astoria. The American Teacher: Experiences and Cabot Corporation, Boston Consulting forum featured keynote speaker Leo Expectations. More than 150 teachers, Group, Cone, Inc., General Electric Hindery, author of It Takes a CEO: students, and business and civic leaders Foundation, Manchester Associates, It’s Time to Lead with Integrity; and joined for a discussion focusing on Ltd., Frontier Capitol Management, panelists Lenny Mendonca, Director, teacher training and retention. The Greater Boston Chamber of Commerce, Co-Founder of Public Sector Practice & forum focused on the status of teacher Meredith & Grew, Mellon Financial Chairman, McKinsey Global Institute, training and retention in Philadelphia, Corporation and Mellon New England, McKinsey & Co., Philip K. Howard, the steps being taken by the school Beth Israel Deaconess Medical Center, Vice Chairman, Covington & Burling, district, and new solutions that might and Partners HealthCare System, Inc. and Kathryn Wylde, President & CEO address these challenges. Shawn of the Partnership for New York City. Crowder, Interim Senior Vice President May 8, 2007 – New York, NY of Human Resources, School District May 30 – Chicago, IL The fi rst major event hosted by the of Philadelphia, delivered the keynote CED, in partnership with the MetLife address. Panelists included Dale Better Health Care Together coalition was a Health Care Reform Summit in Foundation and Golden Apple Mezzacappa, veteran education writer Foundation, hosted a regional forum and contributor, Philadelphia Public New York City. All of the BHCT found- ing members (see entry for February on the The MetLife Survey of the School Notebook; Ruth Curran Neild, American Teacher, 2006: Expectations Research Scientist, Johns Hopkins 6, 2007) took part in the Summit, which featured remarks from Governor and Experiences. The event featured University and Research for Action; keynote speaker Barabara Eason– Kent McGuire, Dean, Temple University Edward Rendell (D–PA) and Governor Arnold Schwartzenegger (R–CA). Watkins, Chief Education Offi cer of College of Education; Marsha Pincus, Chicago Public Schools; Victoria Chou, Teacher, J.R. Masterman Laboratory and May 17 – Washington, D.C. Dean of the College of Education at the Demonstration School; Jerry Jordan, University of Illinois Chicago; Cheryl Senior Vice President, Philadelphia Fed- CED and Justice at Stake discussed the Watkins, Principal of John J. Pershing eration of Teachers; and Christopher rapidly escalating cost of state Supreme West Middle School; Lynda Parker, Haines, Student, George Washington Court elections during a luncheon Guidance Counselor and Teacher at High School. conference at the National Press Club. Kenwood Academy; Linda Lenz, Pub- Fritz Wenzel, Director of Communica- April 30 – Boston, MA lisher and Founder of Catalyst Chicago; tions for Zogby International, presented and Jordan Lanfair, graduating senior Charles Kolb and Lenny Mendonca, the fi ndings of CED’s latest survey of of Kenwood Academy, aspiring educator Director, Co-Founder of Public Sector national business leaders, examining and this year’s Golden Apple Scholar. Practice & Chairman, McKinsey Global the business community’s reaction to Institute, McKinsey & Co., presented the rising cost of judicial elections. The June 4 – Los Angeles, CA release of the poll was complemented fi ndings from the survey on the role Charles Kolb and Lenny Mendonca, of “CEOs as Public Leaders” to a group by the release of a new report from Justice at Stake. The New Politics of Director, Co-Founder of Public Sector of business and civic leaders based in Practice & Chairman, McKinsey Global Boston. Judicial Elections 2006 documents how business groups have recently Institute, McKinsey & Co., presented Ferdinand Colloredo-Mansfeld, become the dominant force in state fi ndings from the survey on the role of Partner at Cabot Properties, convened judicial election campaigns, through “CEOs as Public Leaders” to a group of the forum which included keynote donations and independent expenditure business leaders based in Los Angeles. speaker Bob Corcoran, Chief Learning campaigns. Jesse Rutledge, Director of Harold Williams, President Emeritus Offi cer and Vice President of Corporate Communications for Justice at Stake; of the J. Paul Getty Trust, and John Citizenship at GE and former head of James Sample, Counsel at the Brennan Bryson, Chairman, President & CEO of the innovative “Crotonville Leadership Center for Justice; and Rachel Weiss, Edison International, delivered remarks Facility.” Meeting participants included Communications Director for the on their role in the public policy Trustees Joe Kasputys, Chairman, National Institute on Money in State debate. Other participants included President and CEO of Global Insight, Politics, participated. representatives from Goldman Sachs & Co., Fiduciary Trust International of
20 CED Annual Report 2007 2007 Selected CED Events
California, Dimensional Fund Advi- CED Health-Care Subcommittee, and November 7 – Washington, D.C. sors, Edison International, Southern Chairman of Nektar Therapeutics, and California Leadership Network, Arthur Dr. Alain C. Enthoven, Marriner S. With the completion of CED’s report J. Gallagher & Co., Valley Industry and Eccles Professor of Public and Private Quality, Affordable Health Care for Commerce Association, Center for Management, Emeritus, and Faculty All: Moving Beyond the Employer- American Progress, Maveron, Burson- Member at the Stanford University Cen- Based Health-Insurance System, CED Marsteller, and Legg Mason Real Estate ter for Health Policy. George C. Halvor- hosted a Washington release luncheon. Investors, Inc. son Kaiser Foundation Health Plans Presenting the report were Alain CEO and author of Health Care Reform Enthoven, Marriner S. Eccles Professor June 27 – New York City Now! delivered keynote remarks. The of Public and Private Management, Emeritus at Stanford; Bill Lewis, Presi- CED hosted a Release Luncheon for panel, moderated by Pacifi c Business Group on Health CEO Peter V. Lee, dent Emeritus of the McKinsey Global Built to Last: Focusing Corporations Institute; and Joseph Minarik, CED. on Long-Term Performance. The included Dr. Anmol S. Mahal, Presi- dent, California Medical Association; Vice President and Director of Research. event featured a keynote speech by Keynote remarks were delivered by William Donaldson, CED Trustee, and Sally Covington, Executive Director, California Health Care Coalition; Jeffrey Senators Robert Bennett (R–UT) and former SEC Chairman. Mr. Donaldson Ron Wyden (D–OR), and Congress- is the Chair of CED’s Subcommittee on Mains, Assistant Vice President, Health Plans, AT&T; and Dr. Harold S. Luft, man Jim Cooper (D–TN). Panelists Corporate Governance which produced provided a broad spectrum of views the report. The report offers recom- Professor of Health Policy and Health Economics at the Institute for Health regarding the premise of the report: mendations for corporations to improve that the employer-sponsored system performance by focusing on long-term Policy Studies, University of California, San Francisco. is broken. The panel included Jim goals. Panelists at the CED forum: McIntire, President of Public Affairs, Cono Fusco, CED Trustee, and Manag- October 26 – Charlotte, NC Kelly Services; John Rother, Director, ing Partner of Strategic Relationships, Legislation and Public Policy, AARP; and Grant Thornton LLP; Patrick Gross, CED, Smart Start and the Charlotte Kate Sullivan–Hare, Director, Health CED Trustee, and Chairman, The Lovell Chamber hosted a luncheon forum, Care Policy, Wal–Mart, Inc. Group; and, Jeffrey Diermeier, Presi- which highlighted the importance of dent and CEO, CFA Institute. investing in high-quality early education November 14 – Denver, CO programs in North Carolina, while also September 7 – Washington, DC addressing alternative funding mea- CED, in partnership with The MetLife Foundation and the Public Education William McDonough, former President sures. The forum, which attracted over 70 local business, civic and education & Business Coalition (PEBC), hosted and CEO, Federal Reserve Bank of New a forum on The MetLife Survey of the York, and current Vice Chairman and leaders, was the second in a series CED is hosting with the generous support of American Teacher, 2006: Expecta- Special Advisor to the Chairman, Merrill tions and Experiences in Denver, Lynch & Co, and Joseph Kasputys, the W.K. Kellogg Foundation. Keynote speaker Robert J. Greczyn, Jr., CEO of Colorado. The forum featured keynote Chairman, President and CEO, Global speaker, Dwight D. Jones, Colorado Insight presented the fi ndings of Reduc- Blue Cross Blue Shield NC, emphasized the business case in support of invest- Commissioner of Education. Commis- ing Risks from Global Imbalances sioner Jones was followed by a panel at a Capitol Hill luncheon forum. The ments in early learning and Blue Cross Blue Shield NC’s involvement with early discussion evaluating what teachers, CED report offers recommendations principals and deans of schools of edu- that CED believes will reduce the education efforts. Additional speakers included Kit Cramer, Vice President, cation consider most critical to prepare risks of global economic shocks. Mr. teachers to meet classroom demands. McDonough and Mr. Kasputys are co- Economic Development, Charlotte Chamber of Commerce; Stephanie Alan Gottlieb, Vice President of Policy, chairs of CED’s International Financial PEBC, moderated the panel consisting Imbalances Subcommittee. Fanjul, President, Smart Start; Charles Kolb, CED President; Barry Matherly, of Lynn Rhodes, Dean, School of Edu- October 15 – San Francisco, CA Executive Director, Lincoln Economic cation and Human Development; Rona Development Association; Jocelyn Wilensky, Principal, New Vista High CED hosted a release forum for Qual- Sargent, Program Director, W.K. Kellogg School; Kimberly Cawthorn, Spanish ity, Affordable health Care for All: Foundation; Louise Stoney, Co-Founder, Teacher, Skyview Academy High School; Moving Beyond the Employer-Based Alliance for Early Childhood Finance; and Gabrielle Ohaya, Senior, George Health-Insurance System. Findings and Ashley Thrift, Chair, The North Washington High School. The event of the report were presented by CED Carolina Partnership for Children, Inc. also included remarks from Joeseph Trustee Robert Chess , co-chair of the Minarik, CED Vice President and
CED Annual Report 2007 21 2007 Selected CED Events
Director of Research, Rosann B. Ward, Neuroscience at the Oregon Health and Administrative Offi cer, Thrivent Finan- President, PEBC, and Sibyl Jacobson, Science University, underscored how cial for Lutherans; and Mark Skogen, President & CEO, The MetLife Founda- early life experiences strongly impact President and CEO, Festival Foods. tion. future brain development. December 11 – St. Louis, MO November 27 – New York, NY Additional speakers included Dr. Robert Joss, Dean, Stanford University GSB, CED, in partnership with Missourians CED and the Century Foundation host- and a CED Trustee; Dr. Deborah Stipek, for Fair and Impartial Courts, the ed a discussion on Tough Liberal: Albert Dean, Stanford University School of Missouri Law Institute, and Justice at Shanker and the Battles Over Schools, Education; Yolanda Garcia, Director, Stake, hosted a bi-partisan forum on Unions, Race, and Democracy, a new Institute for Advancing Excellence in Why a Fair and Impartial Judiciary book by Richard Kahlenberg. The event Early Education, Wested; Phil Halperin, Matters to the Business Community. brought together education practitioners President, Silver Giving Foundation; and The forum included 100 business and business representatives to discuss Fred Ferrer, Founder, Manzanita Solu- and policy leaders in St. Louis, and a the legacy of Albert Shanker’s tenure as tions, and Former Executive Director of distinguished panel of experts from president of the American Federation of Estrella Family Services. around Missouri. In the midst of an Teachers. The panel, which was moder- historic upsurge in judicial campaign ated by Richard Leone, President of the This event was hosted by CED and the requests for business donations, busi- Century Foundation, was composed of Stanford University GSB Education Club ness leaders are beginning to realize Sol Hurwitz, CED President Emeritus; with generous support from the Buffett the critical importance of protecting Eugenia Kemble, Executive Director, Early Childhood Fund. the stability, impartiality and public Albert Shanker Institute; Charles Kolb, support for the judicial system. The CED President; Diane Ravitch, former November 30 – Green Bay, WI luncheon discussed judicial reforms, U.S. Assistant Secretary of Education; CED, along with 24 other sponsors, including current efforts to protect Bella Rosenberg, former advisor to hosted Forward with our Children: Missouri’s fi rst-in-the-nation merit Albert Shanker; and Randi Weingarten, Investing Early in our Future Workforce selection system. Panelists analyzed President of the United Federation of in northeast Wisconsin. This regional state and national trends, recent polling, Teachers. economic summit was attended by legislative proposals, and prospects for over 300 business, non-profi t, and civic 2008 and beyond. The event featured The discussion was aired on C–SPAN keynote remarks by Landon Rowland, Book TV. leaders. The luncheon program was made possible with support from the Director & Chairman Emeritus, Janus November 28 – Palo Alto, CA Buffett Early Childhood Fund. Capital Group and Former President & CEO, Kansas City Southern Industries CED brought the message of the Keynote speaker David Lawrence, Inc; and Judge Ronnie White, Former economic benefi ts of high quality early President, Early Childhood Initiative Missouri Supreme Court Judge. Bert education for all to Stanford University Foundation, and retired Publisher, the Brandenburg, Executive Director of Graduate School of Business (GSB) Miami Herald, stressed the importance Justice at Stake, moderated the panel students, who will be the next genera- of investing in the country’s young- which included Bob Holden, Former tion of business leaders. The Stanford est children and shared examples of Governor of Missouri and Chairman of luncheon forum was attended by successful efforts to improve early The Holden Group, LLC; Wayne With- over 60 people and gave tomorrow’s childhood education in south Florida. ers, Special Legal Advisor to Emerson corporate statesmen an opportunity Other national and state level speakers Electric Company, President, Missouri to engage with business, civic, and included Barbara Lawton, Lieutenant Law Institute; Michael Petro, CED Vice non-profi t leaders currently addressing Governor, State of Wisconsin; Charles President; and Debbie Champion, this critical issue. Kolb, CED President; Michael Burke, Member of the St. Louis County Judicial Program Director, Buffett Early Child- Commission. Keynote speaker Robert Dugger, CED hood Fund; and Roberta Gassman, Trustee and Managing Director, Tudor Secretary, Wisconsin Department of Investment Corporation, participated Workforce Development. live via satellite and issued a call to action to the GSB students to recognize The local business voice was represent- the important voice business leaders ed by Nancy Armbrust, Vice President bring to public policy discussions of Education and Community Relations, and to engage in the issues. Dr. Judy Schreiber Foods; Jon Stellmacher, Cameron, Professor of Behavioral Executive Vice President and Chief
22 CED Annual Report 2007 Development Report – 2007
Business Statesmanship and the encouragement of corporate executives to engage in public policy remained an important focus of our development, programmatic, and outreach efforts. In 2008, we plan to continue to explore the important role of CEOs in addressing the nation’s critical economic and social issues.
General Support – CED receives support from corpora- He worked closely with CED’s co-chairs and Committee tions, individuals, academic institutions, and private members to recruit a strong group of highly commited foundations. While 2007 was a challenging year, we new Trustees and Subcommittee members in 2007. are pleased to report that Trustee sponsorship – both corporate and personal – exceeded all expectations, Recruitment efforts were focused on engaging the next particularly in the form of multi-year, future commit- generation of business executives in CED’s policy work. ments for 2008, 2009, and 2010. We remain committed to ensuring that America’s corporate leaders lend their voice to policy development Awards Dinner – The 2007 Distinguished Performance in the nation’s best long-term interests. In addition, Awards Program was a signifi cant success and exceeded CED worked with its subcommittee chairs to recruit its fi nancial goal, reaching an all-time high for the din- individuals to specifi c policy programs, including: ner, which is CED’s sole fundraising event. The Distin- guished Performance Award for Corporate Citizenship was Corporate Governance – led by William H. Donaldson, presented to IBM Corporation and Samuel Palmisano, former Chairman of the U.S. Securities and Exchange its Chairman and CEO; the Peter G. Peterson Award for Commission, the subcommittee completed its study on Business Statesmanship was presented to Ian Davis, “short-termism” and the benefi ts of long-term strategic Worldwide Managing Director, McKinsey & Company; thinking for companies and launched a new project ad- the Excellence in Public Policy Award was presented to dressing capital markets. New Subcommittee members Bobby Shriver of (PRODUCT)RED; and CED’s Global were recruited to help address these important topics. Leadership Award was presented to James E. Press and Digital Connections Council – led by Paul Horn, Retired Toyota Motor Corporation. Vice President for Research & Development at IBM Cor- Foundations – CED received project grants for its work poration and the Distinguished Scientist in Residence in early child care and education; human resources in at the Stern School of Business, at New York University, education; campaign fi nance reform and judicial selec- the DCC continued its examination of openness and tion reform; and openness in higher education. how it is being used to improve health care and higher education. Convening forums in New York City and in Key funders included: Bernard Van Leer Foundation, Silicon Valley, CED recruited corporate and academic the Buffet Early Childhood Fund, Charles Stewart representatives with extensive experience in these fi elds Mott Foundation, Carnegie Corporation of New York, to help guide and inform our studies. Donnell-Kay Foundation, the William and Flora Hewlett Foundation, Open Society Institute, Organization of Looking forward to 2008 – CED Trustees continue to Economic Cooperation and Development (OECD), the lead our development strategies and are personally Pew Charitable Trusts, the Stuart Foundation, and W.K. committed to ensuring the success of these efforts. In Kellogg Foundation. 2007, CED marked its 65th Anniversary and a reaffi r- mation of our founding mission to engage the country’s Trustee Recruitment – CED recruited 20 Trustees to top business leaders as Trustees and subcommittee its Board, including the CEOs and/or senior executives members, and involve them in our policy programs. from: Altria, Burson-Marsteller, Deloitte & Touche, Fuji Xerox, Global Strategies, Grant Thornton, Harvard Going forward, CED will use new models and new tech- University, IBM Japan, Merrill Lynch, Morgan Stanley, nology to deliver CED’s message to a growing constitu- PepsiCo, Personal Pathways, Promontory Financial ency in Washington and around the country. We are Group, SRA International, Stanford University, The Coca- looking to further develop the capacity to expand this Cola Company, Time Warner, Veridian Corporation, and network and involve younger executives who we hope Wells Fargo. will have a long-term commitment to addressing the nation’s public-policy interests. Included is the belief Don Peterson, former Chairman and CEO of Avaya, that CED should continue to address issues and seek ad- chaired CED’s Membership & Nominating Committee. ditional ways to involve our international counterparts network of private business organizations.
CED Annual Report 2007 23 New Trustees Elected in 2007
GERHARD CASPER JOHN HILLEN CAROL MELTON Professor of Law, President Emeritus President Executive Vice President, Global Public Policy Peter and Helen Bing Professor in Global Strategies Group (USA) LLC Time Warner Inc. Undergraduate Education Senior Fellow, Freeman Spogli Institute for G. PENN HOLSENBECK AVID MODJTABAI International Studies, and Professor (by Vice President, Associate General Counsel and Executive Vice President and CIO courtesy) of Political Science Corporate Secretary Wells Fargo & Co. Stanford University Altria Group JAMES MOODY MARTIN COHEN KAKUTARO KITASHIRO Senior Financial Advisor, Managing Director Chairman Global Private Client Group Morgan Stanley IBM Japan Merrill Lynch
ROBERT COLSON YOTARO “TONY” KOBAYASHI C. GREGG PETERSMEYER Partner – Institutional Acceptance Senior Corporate Advisor and Former Chairman Chairman and CEO Grant Thornton LLP Fuji Xerox Personal Pathways, LLC
DR. RENATO DIPENTIMA DAVID LANGSTAFF MARK E. PREISINGER President and CEO, Retired, and Advisor Former President and CEO Vice President, World Wide Public Affairs & SRA International Veridian Corporation Communications The Coca-Cola Company WILLIAM F. EZZELL GENE LUDWIG Partner and Head of Government Affairs Founder & CEO LARRY THOMPSON Deloitte & Touche Promontory Financial Group Senior Vice President, Government Affairs, General Counsel and Secretary PATRICK FORD WILLIAM MCDONOUGH PepsiCo President and CEO, US Vice Chairman and Special Advisor to the Burson-Marsteller Chairman JOHN P. WHITE Merrill Lynch & Co. Lecturer in Public Policy John F. Kennedy School of Government, Harvard University
24 CED Annual Report 2007 CED Supporters
CED is grateful to its supporters for their generous contributions and grants which enable us to pursue a dynamic agenda focused on today’s most signifi cant economic and social issues. The list below represents CED’s major supporters.
$50,000 and over Verizon Communications Shell Oil Company Warburg Pincus LLC Society for Human Resource Bausch & Lomb Inc. Weil, Gotshal & Manges LLP Management Caterpillar Inc. Wells Fargo & Co. Sony Corporation of America General Electric Company XTO Energy Inc. Tenet Healthcare Corporation General Motors Corporation Yahoo! TIAA-CREF IBM Corporation US Power Generating Company McKinsey & Company, Inc. $10,000 to $19,999 Josh S. Weston Merrill Lynch & Co., Inc. Williams & Connolly LLP Peter G. Peterson Airbus of North America, Inc. Jacob J. Worenklein Pfi zer Inc Altria Group, Inc. Wyeth PricewaterhouseCoopers LLP American Asset Corporation Xerox Corporation State Farm Insurance Companies American Express Company YRC Regional Transportation Toyota Motor North America, Inc. Automatic Data Processing, Inc. Avon Products, Inc. $5,000 to $9,999 $20,000 to $49,999 Best Buy Company, Inc. Bill & Melinda Gates Foundation Paul A. Allaire American International Group, Inc. Burson-Marsteller Arnof Family Foundation AT&T Corporation CGI Roy L. Ash Avaya Inc. Citigroup Inc. Bashas Bostock Family Foundation W. Bowman and Abigail T. Cutter Peter A. Benoliel Bristol-Myers Squibb Company Daiwa Securities America Inc. Frank C. Carlucci CEMEX Central, S.A. de C.V. Dentsu America, Inc Ferdinand Colloredo-Mansfeld Chevron Corporation Duke University Consolidated Edison Co. of NY, Inc. Deloitte & Touche Educational Testing Service Stephen A. Crane Frank P. Doyle FedEx Corporation Cross Atlantic Capital Partners Robert H. Dugger Edmund B. Fitzgerald Diamond Management & Technology Ernst & Young LLP Global Insight, Inc. Consultants, Inc. ExxonMobil Corporation Grant Thornton William H. Donaldson General Mills, Inc. Gerald Greenwald Harry Freeman Goldman Sachs Group Inc. Guardsmark, LLC Gentiva Health Services Great Plains Energy Services Johnson & Johnson GlaxoSmithKline Roderick M. and Carla A. Hills Kaiser Foundation Health Plan, Inc Alfred G. and Hope P. Goldstein Fund J.P. Morgan Chase & Co. Lehman Brothers Inc. Patrick W. Gross MetLife Inc. Ludwig Family Foundation Grossman Family Foundation Morgan Stanley Manpower Inc. Adam J. Gutstein Steffen E. Palko Lenny Mendonca H. E. Butt Grocery Company Daniel Rose Motorola, Inc. Harman International Industries, Inc. Landon H. Rowland Northwestern Mutual Edward A. Kangas The Blackstone Group Ogilvy & Mather James W. McKee The Boston Consulting Group, Inc. Overseas Shipholding Group, Inc. Deborah Hicks Midanek The Chubb Corporation Pacifi c Life Insurance Company Harvey R. Miller, Esq. The Coca-Cola Company Gregg Petersmeyer Munger, Tolles & Olson LLP The Lanier Law Firm P.C. Prudential Financial Nektar Therapeutics Thomas J. Klutznick Company Randolph Foundation Donald K. Peterson Time Warner Inc. Saatchi & Saatchi Advertising World Quaker Chemical Corporation Tudor Investment Corporation Schering-Plough Corporation Rensselaer Polytechnic Institute
CED Annual Report 2007 25 CED Supporters
RRE Ventures Gerhard Casper Stephen Joel Trachtenberg The Sidney J. Weinberg, Jr. Foundation Central Bancompany University of Minnesota The Steak n Shake Company A.W. “Tom” Clausen Vanderbilt University Roger W. Stone Kathleen B. Cooper James L. Vincent Ronald L. Zarrella Country Insurance and Financial Frank Vogl Services Clifton R. Wharton, Jr. $2,500 to $4,999 Dartmouth College Harold M. Williams Linda M. Distlerath, Ph.D., J.D. Robert C. Winters Alan Belzer Irwin Dorros Castle Harlan, Inc. Thomas J. Eyerman Project Funders Claremont McKenna College George Washington University Dunphy Family Foundation Inc. Thomas P. Gerrity, Jr. Bernard Van Leer Foundation Christopher D. Earl, Ph.D. Granite Construction Inc. Buffet Early Childhood Fund Earl G. Graves Publishing Co., Inc. Ronald Grzywinski Carnegie Corporation of New York W. D. Eberle Judith H. Hamilton Charles Stewart Mott Foundation Matthew Fink Richard W. Hanselman Donnell-Kay Foundation Joseph Gantz Hearst Magazines The William and Flora Hewlett The Goldberg Family Foundation John Hillen Foundation GolinHarris Hayne Hipp MetLife Foundation Grail Partners LLC Holborn Corporation North Carolina Partnership for Children Holt Family Foundation Philip K. Howard, Esq. Open Society Institute Kildare Enterprises, LLC The Hubbard Broadcasting Foundation Organization of Economic Cooperation Yotaro Kobayashi IGA Global Pte and Development (OECD) Charles E.M. Kolb Intermountain Gas Company Pew Charitable Trusts Robert W. Lundeen Robert L. Joss Piton Foundation Bruce K. MacLaury Leviton Manufacturing Company, Inc. Stuart Foundation The Ohio State University William W. Lewis W.K. Kellogg Foundation Ned Regan LKM Ventures, LLC The Richard E. Jacobs Group Oscar G. Mayer Scarbroughs John F. McGillicuddy Endowments Shure Incorporated David E. McKinney The Roy L. Ash Program in American Frederick W. Telling, Ph.D. Robert E. Mercer Governance (given by Mr. Ash) Joseph J. Minarik Matthew Nimetz $2,499 and under The Owen B. Butler Program in Carol J. Parry Education Studies (given by Daiwa Ackman-Ziff Real Estate Group LLC Roger S. Penske Securities Co., Ltd.) Ameritas Life Insurance Corp. Todd E. Petzel Atlantic Health System S. Lawrence Prendergast The Edmund B. Fitzgerald Program in Avenir Group, Inc. Doug Price International Studies (given by Northern Becton Dickinson and Company James Q. Riordan Telecom) Belz Enterprises Ralph S. Saul Bennington College ShoreBank Corporation The Philip M. Klutznick Program in John Brademas Alan G. Spoon Urban Studies (given by Mr. Klutznick) Mary E. Breslin James D. Staley Andrew F. Brimmer The Stanley Group The Philip D. Reed Program in Energy William E. Brock Paula Stern and the Environment (given by the David A. Caputo Donald M. Stewart Philip D. Reed Foundation) Carl H. Pforzheimer & Co. LLC T. Rowe Price Associates, Inc.
26 CED Annual Report 2007 CED TRUSTEES
Co-Chairs STEFFEN E. PALKO PETER BENOLIEL Vice Chairman & President (Retired) Chairman Emeritus W. BOWMAN CUTTER 84/ %NERGY 1UAKER #HEMICAL #ORPORATION Managing Director 7ARBURG 0INCUS ,,# DONALD K. PETERSON ALAN BELZER Chairman & CEO (Retired) President & Chief Operating Officer (Retired) RODERICK M. HILLS !VAYA )NC !LLIED 3IGNAL Chairman (ILLS 3TERN -ORLEY ,,0 DONNA SHALALA DEREK C. BOK President Professor of Law & President Emeritus 5NIVERSITY OF -IAMI (ARVARD 5NIVERSITY
Executive Committee FREDERICK W. TELLING LEE C. BOLLINGER IAN ARNOF Vice President, Corporate President Chairman Strategic Planning (Retired) #OLUMBIA 5NIVERSITY !RNOF &AMILY &OUNDATION 0lZER )NC ROY J. BOSTOCK PETER BENOLIEL JOSH S. WESTON Chairman Chairman Emeritus Honorary Chairman 3EALEDGE )NVESTMENTS ,,# 1UAKER #HEMICAL #ORPORATION !UTOMATIC $ATA 0ROCESSING )NC STEPHEN W. BOSWORTH ROY J. BOSTOCK RONALD L. ZARRELLA Dean Chairman Chairman Emeritus &LETCHER 3CHOOL OF ,AW AND $IPLOMACY 3EALEDGE )NVESTMENTS ,,# "AUSCH ,OMB )NC 4UFTS 5NIVERSITY
FRANK P. DOYLE JACK O. BOVENDER Executive Vice President (Retired) Chairman & CEO 'ENERAL %LECTRIC #OMPANY Board of Trustees (#! (EALTH #ARE #ORPORATION OF !MERICA
EDMUND B. FITZGERALD KENT M. ADAMS JOHN BRADEMAS Managing Director President President Emeritus 7OODMONT !SSOCIATES Caterpillar Inc. .EW 9ORK 5NIVERSITY
JOSEPH GANTZ PAUL A. ALLAIRE RANDY J. BRAUD Partner Chairman (Retired) U.S. Country Controller '' #APITAL ,,# 8EROX #ORPORATION 3HELL /IL #OMPANY
PATRICK W. GROSS STEPHEN E. ALLIS WILLIAM E. BROCK Chairman Partner in Charge of Government Affairs Founder and Senior Partner 4HE ,OVELL 'ROUP +0-' ,,0 4HE "ROCK 'ROUP
STEVEN GUNBY HERBERT M. ALLISON BETH BROOKE Chairman, The Americas & Senior Vice Chairman, President, & CEO Global Vice Chair, Strategy, Communications, President 4)!! #2%& and Regulatory Affairs 4HE "OSTON #ONSULTING 'ROUP )NC %RNST 9OUNG ,,0 COUNTESS MARIA BEATRICE ARCO THOMAS J. KLUTZNICK Chair ROBERT H. BRUININKS President !MERICAN !SSET #ORPORATION President 4HOMAS * +LUTZNICK #O 5NIVERSITY OF -INNESOTA IAN ARNOF CHARLES E.M. KOLB Chairman DONALD R. CALDWELL President !RNOF &AMILY &OUNDATION Chairman & Chief Executive Officer Committee for Economic Development #ROSS !TLANTIC #APITAL 0ARTNERS DEBORAH HICKS BAILEY WILLIAM W. LEWIS Chairman & CEO DAVID A. CAPUTO Director Emeritus 3OLON 'ROUP )NC President Emeritus -C+INSEY 'LOBAL )NSTITUTE 0ACE 5NIVERSITY EDWARD N. BASHA, JR. BRUCE K. MACLAURY Chief Executive Officer GERHARD CASPER President Emeritus "ASHA 'ROCERY 3TORES President Emeritus 4HE "ROOKINGS )NSTITUTION 3TANFORD 5NIVERSITY NADINE BASHA Ex Officio: Chair RAYMOND G. CHAMBERS !RIZONA %ARLY #HILDHOOD $EVELOPMENT AND Chairman of the Board (Retired) DAVID R. NACHBAR (EALTH "OARD !MELIOR &OUNDATION Senior Vice President, Human Resources "AUSH ,OMB )NC
CED Annual Report 2007 27 CED TRUSTEES
ROBERT B. CHESS JOHN J. DEGIOIA MATTHEW FINK Chairman President President (Retired) .EKTAR 4HERAPEUTICS 'EORGETOWN 5NIVERSITY )NVESTMENT #OMPANY )NSTITUTE
MICHAEL CHESSER RENATO DIPENTIMA EDMUND B. FITZGERALD Chairman, President & CEO President and CEO, (Retired) Managing Director 'REAT 0LAINS %NERGY 3ERVICES 32! )NTERNATIONAL )NC 7OODMONT !SSOCIATES
CAROLYN CHIN SAMUEL A. DIPIAZZA MARGARET FORAN Chairman & Chief Executive Officer Global Chief Executive Officer Senior Vice President, Corporate Governance, #EBIZ 0RICEWATERHOUSE#OOPERS ,,0 Associate General Counsel, & Corporate Secretary JOHN L. CLENDENIN LINDA M. DISTLERATH, PH.D, J.D. 0lZER )NC Chairman (Retired) Senior Vice President "ELL3OUTH #ORPORATION !0#/ 7ORLDWIDE PATRICK FORD President & CEO, USA MARTIN COHEN WILLIAM H. DONALDSON "URSON -ARSTELLER Managing Director and Assistant Secretary Chairman Legal and Compliance Division Donaldson Enterprises HARRY FREEMAN -ORGAN 3TANLEY Chairman IRWIN DORROS 4HE -ARK 4WAIN )NSTITUTE ELIZABETH COLEMAN President President $ORROS !SSOCIATES MITCHELL S. FROMSTEIN "ENNINGTON #OLLEGE Chairman Emeritus FRANK P. DOYLE -ANPOWER )NC FERDINAND COLLOREDO-MANSFELD Executive Vice President (Retired) Partner 'ENERAL %LECTRIC #OMPANY CONO R. FUSCO #ABOT 0ROPERTIES ,,# Managing Partner - Strategic Relationships ROBERT H. DUGGER (Retired) ROBERT COLSON Managing Director 'RANT 4HORNTON ,,0 Partner 4UDOR )NVESTMENT #ORPORATION 'RANT 4HORNTON ,,0 PAMELA B. GANN T. J. DERMOT DUNPHY President GEORGE H. CONRADES Chairman #LAREMONT -C+ENNA #OLLEGE Chairman & Chief Executive Officer +ILDARE %NTERPRISES ,,# !KAMAI 4ECHNOLOGIES )NC JOSEPH GANTZ CHRISTOPHER D. EARL, PH.D Partner KATHLEEN B. COOPER President & CEO '' #APITAL ,,# Senior Fellow ")/ 6ENTURES FOR 'LOBAL (EALTH 3OUTHERN -ETHODIST 5NIVERSITY E. GORDON GEE W.D. EBERLE President STEPHEN A. CRANE Chairman /HIO 3TATE 5NIVERSITY Chairman -ANCHESTER !SSOCIATES ,TD )NSURANCE AND 2EINSURANCE 3TRATEGIES THOMAS P. GERRITY STUART E. EIZENSTAT Joseph J. Arresty Professor of Management KENNETH W. DAM Partner 4HE 7HARTON 3CHOOL OF THE 5NIVERSITY OF Max Pam Professor Emeritus of American and #OVINGTON "URLING ,,0 Pennsylvania Foreign Law and Senior Lecturer 5NIVERSITY OF #HICAGO ,AW 3CHOOL ROBERT A. ESSNER ALAN B. GILMAN Chairman, President & CEO Chairman PAUL DANOS Wyeth 4HE 3TEAK N 3HAKE #OMPANY Dean, The Amos Tuck School of Business $ARTMOUTH #OLLEGE WILLIAM F. EZZELL, JR. CAROL R. GOLDBERG Partner, Government Relations Trustee RONALD R. DAVENPORT $ELOITTE 4OUCHE 4HE 'OLDBERG &AMILY &OUNDATION Chairman Emeritus 3HERIDAN "ROADCASTING #ORPORATION DIANA FARRELL ALFRED G. GOLDSTEIN Director President & Chief Executive Officer RICHARD H. DAVIS -C+INSEY 'LOBAL )NSTITUE !' !SSOCIATES Partner $AVIS -ANAFORT )NC KATHLEEN FELDSTEIN JOSEPH T. GORMAN President Chairman & CEO (Retired) RICHARD J. DAVIS %CONOMICS 3TUDIES )NC -OXAHELA %NTERPRISES ,,# Senior Partner 7EIL 'OTSHAL -ANGES ,,0 TREVOR FETTER EARL G. GRAVES President & CEO Chairman & Publisher 4ENET (EALTHCARE #ORPORATION %ARL ' 'RAVES 0UBLISHING #O )NC
28 CED Annual Report 2007 CED TRUSTEES
GERALD GREENWALD PHILIP K. HOWARD YOTARO KOBAYASHI Chairman Partner, Senior Corporate Advisor, Senior Corporate Advisor and Former Chairman 'REENBRIAR %QUITY 'ROUP and Strategist &UJI 8EROX #OVINGTON "URLING BARBARA B. GROGAN CHARLES E.M. KOLB Chairman Emeritus SHIRLEY ANN JACKSON President 7ESTERN )NDUSTRIAL #ONTRACTORS President Committee for Economic Development 2ENSSELAER 0OLYTECHNIC )NSTITUTE PATRICK W. GROSS THOMAS F. LAMB, JR. Chairman CHARLENE DREW JARVIS Senior Vice President, Government Affairs 4HE ,OVELL 'ROUP President 0.# &INANCIAL 3ERVICES 'ROUP )NC 3OUTHEASTERN 5NIVERSITY JEROME H. GROSSMAN KURT M. LANDGRAF Senior Fellow WILLIAM C. JENNINGS President & CEO +ENNEDY 3CHOOL (EALTH #ARE $ELIVERY 0ROJECT Chairman %DUCATIONAL 4ESTING 3ERVICE (ARVARD 5NIVERSITY 53 )NTERACTIVE )NC DAVID LANGSTAFF RONALD GRZYWINSKI JEFFREY A. JOERRES Co-Chairman & CEO Chairman Chairman & CEO Veridian Corporation 3HORE"ANK #ORPORATION -ANPOWER )NC W. MARK LANIER, ESQ. STEVEN GUNBY JAMES A. JOHNSON Partner Chairman, The Americas & Senior Vice Vice Chairman 4HE ,ANIER ,AW &IRM 0# President 0ERSEUS ,,# 4HE "OSTON #ONSULTING 'ROUP )NC RICK A. LAZIO L. OAKLEY JOHNSON Executive Vice President, Global Government ADAM J. GUTSTEIN Senior Vice President, Corporate Affairs Relations & Public Policy Chief Executive Officer !MERICAN )NTERNATIONAL 'ROUP )NC *0 -ORGAN #HASE #O $IAMOND -ANAGEMENT 4ECHNOLOGY #ONSULTANTS )NC VAN E. JOLISSAINT WILLIAM W. LEWIS Corporate Economist Director Emeritus JUDITH H. HAMILTON DaimlerChrysler Corporation -C+INSEY 'LOBAL )NSTITUTE Chairman & CEO (Retired) Classroom Connect ROBERT L. JOSS ROBERT G. LIBERATORE Dean, Graduate School of Business Senior Consultant HOLLIS W. HART 3TANFORD 5NIVERSITY DaimlerChrysler Corporation Director of International Operations #ITIGROUP PRES KABACOFF JOHN LIFTIN Chief Executive Officer General Counsel WILLIAM HASELTINE (2) 0ROPERTIES $% 3HAW #O ,0 President (ASELTINE !SSOCIATES ROBERT KAHN IRA A. LIPMAN Director, Country Risk Management Founder & Chairman HEATHER R. HIGGINS #ITIGROUP )NC 'UARDSMARK ,,# President 2ANDOLPH &OUNDATION EDWARD A. KANGAS JOHN C. LOOMIS Global Chairman & CEO (Retired) Vice President, Human Resources JOHN HILLEN $ELOITTE 4OUCHE 4OHMATSU 'ENERAL %LECTRIC #OMPANY President 'LOBAL 3TRATEGIES 'ROUP 53! ,L# JOSEPH E. KASPUTYS LI LU Chairman, President & CEO President JOHN HOFFMEISTER 'LOBAL )NSIGHT )NC (IMALAYA #APITAL President 3HELL /IL #OMPANY WILLIAM E. KIRWAN EUGENE LUDWIG Chancellor Chief Executive Officer G. PENN HOLSENBECK 5NIVERSITY 3YSTEM OF -ARYLAND 0ROMONTORY &INANCIAL 'ROUP Vice President, Associate General Counsel & Corporate Secretary KAKUTARO KITASHIRO BRUCE K. MACLAURY !LTRIA 'ROUP )NC Chairman President Emeritus )"- *APAN 4HE "ROOKINGS )NSTITUTION PAUL M. HORN Senior Vice President, Research (Retired) THOMAS J. KLUTZNICK COLETTE MAHONEY )"- #ORPORATION President President Emeritus Distinguished Scientist in Residence 4HOMAS * +LUTZNICK #O -ARYMOUNT -ANHATTAN #OLLEGE 3TERN 3CHOOL OF "USINESS #OURANT )NSTITUTE OF -ATHEMATICAL 3CIENCES AND THE 'RADUATE 3CHOOL OF !RTS 3CIENCES .EW 9ORK 5NIVERSITY
CED Annual Report 2007 29 CED TRUSTEES
ELLEN R. MARRAM JAMES MOODY TODD E. PETZEL President Senior Financial Advisor Managing Director and Chief Investment Officer "ARNEGAT 'ROUP ,,# -ERRILL ,YNCH #O )NC /FlT #APITAL !DVISORS ,,#
CECILIA MARTINEZ NICHOLAS G. MOORE MARK PREISINGER Executive Director Senior Counsel and Director Vice President, World Wide Public Affairs 4HE 2EFORM )NSTITUTE "ECHTEL 'ROUP )NC and Communications 4HE #OCA #OLA #OMPANY DAVID MAXWELL DONNA S. MOREA President President, US Operations & India DOUG PRICE $RAKE 5NIVERSITY #') Founder %DUCARE #OLORADO T. ALLAN MCARTOR JAMES C. MULLEN Chairman President & CEO GEORGE A. RANNEY, JR. !IRBUS OF .ORTH !MERICA )NC "IOGEN )DEC )NC President & CEO #HICAGO -ETROPOLIS ALONZO L. MCDONALD DAVID R. NACHBAR Chairman & Chief Executive Officer Senior Vice President, Human Resources NED REGAN !VENIR 'ROUP )NC "AUSH ,OMB )NC University Professor 4HE #ITY 5NIVERSITY OF .EW 9ORK WILLIAM J. MCDONOUGH DIANA S. NATALICIO Vice Chairman and Special Advisor President JAMES D. ROBINSON III to the Chairman 4HE 5NIVERSITY OF 4EXAS AT %L 0ASO Partner -ERRILL ,YNCH #O )NC 22% 6ENTURES DEAN R. O’HARE DAVID E. MCKINNEY Chairman & CEO, (Retired) JAMES E. ROHR Vice Chair 4HE #HUBB #ORPORATION Chairman & CEO 4HOMAS * 7ATSON &OUNDATION 0.# &INANCIAL 3ERVICES 'ROUP )NC RONALD L. OLSON SUSAN R. MEISINGER Partner ROY ROMER President & Chief Executive Officer -UNGER 4OLLES /LSON ,,0 Superintendent of Schools (Retired) 3OCIETY FOR (UMAN 2ESOURCE -ANAGEMENT ,! 5NIlED 3CHOOL $ISTRICT M. MICHEL ORBAN CAROL MELTON Partner DANIEL ROSE Executive Vice President, Global Public Policy 22% 6ENTURES Chairman 4IME 7ARNER )NC 2OSE !SSOCIATES )NC STEFFEN E. PALKO LENNY MENDONCA Vice Chairman & President (Retired) LANDON H. ROWLAND Chairman, McKinsey Global Institute 84/ %NERGY Chairman and Director %VER'LADES &INANCIAL -C+INSEY #OMPANY )NC JERRY PARROTT V.P., Corporate Communications NEIL L. RUDENSTINE ALAN G. MERTEN and Public Policy Chair, ArtStor Advisory Board President (UMAN 'ENOME 3CIENCES )NC !NDREW 7 -ELLON &OUNDATION 'EORGE -ASON 5NIVERSITY CAROL J. PARRY GEORGE E. RUPP HARVEY R. MILLER President President Senior Partner #ORPORATE 3OCIAL 2ESPONSIBILITY !SSOCIATES )NTERNATIONAL 2ESCUE #OMMITTEE 7EIL 'OTSHAL -ANGES ,,0 VICTOR A. PELSON EDWARD B. RUST ALFRED T. MOCKETT Senior Advisor Chairman & CEO Chairman & CEO 5"3 3ECURITIES ,,# 3TATE &ARM )NSURANCE #OMPANIES -OTIVE )NC GREGG PETERSMEYER ARTHUR F. RYAN AVID MODJTABAI Chairman and CEO President, Chairman & CEO Executive Vice President and 0ERSONAL 0ATHWAYS ,,# 0RUDENTIAL &INANCIAL Chief Information Officer 7ELLS &ARGO #O DONALD K. PETERSON BERTRAM L. SCOTT Chairman & CEO (Retired) President G. MUSTAFA MOHATAREM !VAYA )NC 4)!! #2%& ,IFE )NSURANCE #OMPANY Chief Economist 'ENERAL -OTORS #ORPORATION PETER G. PETERSON WILLIAM S. SESSIONS Senior Chairman Partner 4HE "LACKSTONE 'ROUP (OLLAND +NIGHT ,,0
30 CED Annual Report 2007 CED TRUSTEES
JOHN E. SEXTON ROGER W. STONE FRANK VOGL President Chairman and CEO President .EW 9ORK 5NIVERSITY +AP3TONE 0APER 0ACKAGING #ORP 6OGL #OMMUNICATIONS
DONNA SHALALA MATTHEW J. STOVER DONALD C. WAITE President Chairman Director 5NIVERSITY OF -IAMI ,+- 6ENTURES ,,# -C+INSEY #OMPANY )NC
WALTER H. SHORENSTEIN LAWRENCE H. SUMMERS JERRY D. WEAST Chairman Emeritus Managing Director Superintendent of Schools 3HORENSTEIN #OMPANY ,,# 3HAW #O ,0 -ONTGOMERY #OUNTY 0UBLIC 3CHOOLS Charles W. Elliot University Professor GEORGE P. SHULTZ (ARVARD 5NIVERSITY JOSH S. WESTON Distinguished Fellow Honorary Chairman 4HE (OOVER )NSTITUTION HENRY TANG !UTOMATIC $ATA 0ROCESSING )NC Governor JOHN C. SICILIANO Committee of 100 JOHN P. WHITE Partner Lecturer in Public Policy 'RAIL 0ARTNERS ,,# FREDERICK W. TELLING (ARVARD 5NIVERSITY Vice President, Corporate FREDERICK W. SMITH Strategic Planning (Retired) HAROLD M. WILLIAMS Chairman, President & CEO 0lZER )NC President Emeritus &ED%X #ORPORATION 'ETTY 4RUST LARRY D. THOMPSON SARAH G. SMITH Senior Vice President, Government Affairs, LINDA SMITH WILSON Chief Accounting Officer General Counsel and Secretary President Emerita 'OLDMAN 3ACHS 'ROUP )NC PepsiCo Inc. 2ADCLIFFE #OLLEGE
IAN D. SPATZ JAMES A. THOMSON MARGARET S. WILSON Vice President, Public Policy President & Chief Executive Officer Chairman & CEO -ERCK #O )NC 2!.$ 3CARBROUGHS
ALAN G. SPOON STEPHEN JOEL TRACHTENBERG H. LAKE WISE Managing General Partner President Emeritus, University Professor of Executive Vice President and Chief Legal Officer 0OLARIS 6ENTURE 0ARTNERS Public Service $AIWA 3ECURITIES !MERICA )NC 'EORGE 7ASHINGTON 5NIVERSITY *AMES $ 3TALEY JACOB J. WORENKLEIN TALLMAN TRASK, III Chief Executive Officer 0RESIDENT 2ETIRED Executive Vice President 53 0OWER 'ENERATING #OMPANY ,,# $UKE 5NIVERSITY 92# 2EGIONAL 4RANSPORTATION KURT E. YEAGER VAUGHN O. VENNERBERG President Emeritus PAULA STERN Senior Vice President and Chief of Staff %LECTRIC 0OWER 2ESEARCH )NSTITUTE Chairwoman 84/ %NERGY )NC 4HE 3TERN 'ROUP )NC RONALD L. ZARRELLA ROBERT J. VILHAUER Chairman Emeritus DONALD M. STEWART Vice President, Public Policy and Analysis "AUSCH ,OMB )NC Professor 4HE "OEING #OMPANY 4HE 5NIVERSITY OF #HICAGO STEVEN ZATKIN JAMES L. VINCENT Senior Vice President, Government Relations Chairman (Retired) +AISER &OUNDATION (EALTH 0LAN )NC "IOGEN )NC
CED Annual Report 2007 31 CED HONORARY TRUSTEES
RAY C. ADAM PHILIP CALDWELL THOMAS J. EYERMAN Retired Chairman Retired Chairman Retired Partner ., )NDUSTRIES &ORD -OTOR #OMPANY 3KIDMORE /WINGS -ERRILL
ROBERT O. ANDERSON HUGH M. CHAPMAN DON C. FRISBEE Retired Chairman Retired Chairman Chairman Emeritus (ONDO /IL 'AS #OMPANY .ATIONS "ANK OF 'EORGIA 0ACIl#ORP
ROY L. ASH E. H. CLARK, JR. W. H. K. GEORGE Retired Chairman Chairman and Chief Executive Officer Retired Chairman ,ITTON )NDUSTRIES 4HE &RIENDSHIP 'ROUP !,#/!
ROBERT H. BALDWIN A. W. CLAUSEN WALTER B. GERKEN Retired Chairman Retired Chairman and Chief Executive Officer Retired Chairman & Chief Executive Officer -ORGAN 3TANLEY "ANK OF !MERICA 0ACIlC )NVESTMENT -ANAGEMENT #O
GEORGE F. BENNETT DOUGLAS D. DANFORTH LINCOLN GORDON Chairman Emeritus Executive Associates Former President 3TATE 3TREET )NVESTMENT 4RUST *OHNS (OPKINS 5NIVERSITY JOHN H. DANIELS JACK F. BENNETT Retired Chairman and CEO JOHN D. GRAY Retired Senior Vice President !RCHER $ANIELS -IDLAND #OMPANY Chairman Emeritus %XXON-OBIL #ORPORATION (ARTMARX #ORPORATION RALPH P. DAVIDSON HOWARD BLAUVELT Retired Chairman JOHN R. HALL Retired President and CEO 4IME )NC Retired Chairman Conoco !SHLAND )NC ALFRED C. DECRANE, JR. ALAN S. BOYD Retired Chairman RICHARD W. HANSELMAN Retired Vice Chairman 4EXACO #ORPORATION Former Chairman !IRBUS )NDUSTRIE .ORTH !MERICA (EALTH .ET )NC ROBERT R. DOCKSON ANDREW F. BRIMMER Chairman Emeritus ROBERT S. HATFIELD President CalFed, Inc. Retired Chairman "RIMMER #OMPANY )NC 4HE #ONTINENTAL 'ROUP LYLE J. EVERINGHAM FLETCHER BYROM Retired Chairman President and CEO 4HE +ROGER #O -)#!35 #ORPORATION
32 CED Annual Report 2007 CED HONORARY TRUSTEES
PHILIP M. HAWLEY J. W. MCSWINEY RALPH S. SAUL Retired Chairman of the Board Retired Chairman of the Board Retired Chairman of the Board #ARTER (AWLEY (ALE 3TORES )NC -EAD7ESTVACO #ORPORATION #)'.! #ORPORATION
ROBERT C. HOLLAND ROBERT E. MERCER GEORGE A. SCHAEFER Senior Fellow Retired Chairman Retired Chairman of the Board 4HE 7HARTON 3CHOOL OF THE 5NIVERSITY OF 4HE 'OODYEAR 4IRE 2UBBER #OMPANY Caterpillar Inc. Pennsylvania LEE L. MORGAN ROBERT G. SCHWARTZ LEON C. HOLT, JR. Retired Chairman of the Board Retired Vice Chairman and Chief Administrative Caterpillar Inc. MARK SHEPHERD, JR. Officer Retired Chairman !IR 0RODUCTS AND #HEMICALS )NC ROBERT R. NATHAN 4EXAS )NSTRUMENTS )NCORPORATED Chairman SOL HURWITZ .ATHAN !SSOCIATES ROCCO C. SICILIANO Retired President Chairman Committee for Economic Development JAMES J. O’CONNOR $WIGHT $ %ISENHOWER -EMORIAL #OMMISSION Retired Chairman and Chief Executive Officer GEORGE F. JAMES %XELON #ORPORATION ELMER B. STAATS Former Comptroller General of the United States DAVID T. KEARNS LEIF H. OLSEN Chairman Emeritus Chairman FRANK STANTON .EW !MERICAN 3CHOOLS $EVELOPMENT ,(/ 'ROUP Retired President Corporation #"3 #ORPORATION NORMA PACE GEORGE M. KELLER President EDGER B. STERN, JR. Retired Chairman of the Board 0APER !NALYTICS !SSOCIATES Chairman of the Board Chevron Corporation 2OYAL 3TREET #ORPORATION CHARLES W. PARRY FRANKLIN A. LINDSAY Retired Chairman ALAXANDER L. STOTT Retired Chairman !,#/! Retired President and COO )TEK #ORPORATION '4% #ORPORATION WILLIAM R. PEARCE ROBERT W. LUNDEEN Director WAYNE E. THOMPSON Retired Chariman !MERICAN %XPRESS -UTUAL &UNDS Retired Chairman 4HE $OW #HEMICAL #OMPANY -ERRITT 0ERALTA -EDICAL #ENTER JOHN H. PERKINS RICHARD B. MADDEN Retired President THOMAS A. VANDERSLICE Retired Chairman and Chief Executive Officer #ONTINENTAL )LLINOIS .ATIONAL "ANK AND 4RUST Retired President and Chief Operating Officer Potlatch Corporation Company '4% #ORPORATION
AUGUSTINE R. MARUSI DEAN P. PHYPERS SIDNEY J. WEINBERG, JR. Retired Chairman Retired Chief Financial Officer Senior Director "ORDEN )NC )"- #ORPORATION 'OLDMAN 3ACHS 'ROUP )NC
WILLIAM F. MAY ROBERT M. PRICE CLIFTON R. WHARTON, JR. Former Chairman and CEO Retired Chairman and Chief Executive Officer Former Chairman and CEO 3TATUE OF ,IBERTY %LLIS )SLAND &OUNDATION Control Data Corporation 4)!! #2%&
OSCAR G. MAYER JAMES J. RENIER DOLORES D. WHARTON Retired Chariman Retired Chairman and CEO Former Chariman and CEO /SCAR -AYER #O (ONEYWELL )NC 4HE &UND FOR #ORPORATE )NITIATIVES
JOHN F. MCGILLICUDDY JAMES Q. RIORDAN ROBERT C. WINTERS Retired Chairman and Chief Executive Officer Chairman Chairman Emeritus *0 -ORGAN #HASE #O 1UENTIN 0ARTNERS CO 0RUDENTIAL &INANCIAL
JAMES W. MCKEE, JR. IAN M. ROLLAND RICHARD D. WOOD Retired Chairman Retired Chairman and Chief Executive Officer Retired Chief Executive Officer CPC International, Inc. ,INCOLN .ATIONAL #ORPORATION %LI ,ILLY AND #OMPANY
CHAMPNEY A. MCNAIR WILLIAM M. ROTH CHARLES J. ZWICK Retired Vice Chairman Former United States Trade Representative Retired Chairman 4RUST #OMPANY OF 'EORGIA 3OUTHEAST "ANKING #ORPORATION WILLIAM RUDER Former US Assistant Secretary of Commerce Former SEC Chairman
CED Annual Report 2007 33 CED RESEARCH ADVISORY BOARD
Chair: BENJAMIN M. FRIEDMAN ROBERT E. LITAN William Joseph Maier Professor of Political Vice President, Research & Policy JOHN L. PALMER Economy %WING -ARION +AUFFMAN &OUNDATION University Professor and Dean Emeritus (ARVARD 5NIVERSITY 4HE -AXWELL 3CHOOL ZANNY MINTON-BEDDOES 3YRACUSE 5NIVERSITY ROBERT HAHN Washington Economics Correspondent Executive Director 4HE %CONOMIST !%) "ROOKINGS *OINT #ENTER WILLIAM D. NORDHAUS Members: DOUGLAS HOLTZ-EAKIN Sterling Professor of Economics Economic Policy Chair #OWLES &OUNDATION ANTHONY CORRADO *OHN -C#AIN 9ALE 5NIVERSITY Charles A. Dana Professor of Government Colby College HELEN LADD RUDOLPH PENNER Professor of Economics Arjay and Frances Miller Chair in Public Policy ALAIN C. ENTHOVEN $UKE 5NIVERSITY 4HE 5RBAN )NSTITUTE Marriner S. Eccles Professor of Public & Private Management, Emeritus 3TANFORD 5NIVERSITY
DIGITAL CONNECTIONS COUNCIL
Council Chair: CHANDRA GNANASAMBANDAM MATTHEW J. STOVER Associate Principal Chairman PAUL M. HORN -C+INSEY #OMPANY ,+- 6ENTURES ,,# Senior Vice President, Research (Retired) )"- #ORPORATION DANIEL J. GREENWOOD CHRIS WU Distinguished Scientist in Residence Founder Open Educational Resource Fellow 3TERN 3CHOOL OF "USINESS #OURANT )NSTITUTE OF #)6)#3COM n 4HE )NFORMATION !GE &UNDED BY THE (EWLETT &OUNDATION -ATHEMATICAL 3CIENCES AND THE 'RADUATE #ONSULTANCY )NSTITUTE FOR THE 3TUDY OF +NOWLEDGE 3CHOOL OF !RTS 3CIENCES -ANAGEMENT IN %DUCATION .EW 9ORK 5NIVERSITY PATRICK W. GROSS Chairman Project Director: Members: 4HE ,OVELL 'ROUP ELLIOT E. MAXWELL CAROLYN CHIN RICHARD HOWARD Chief Strategist Chairman & Chief Executive Officer Program Manager (Retired) E-AXWELL !SSOCIATES #EBIZ ,UCENT 4ECHNOLOGIES )NC Fellow, Communications Program *OHNS (OPKINS 5NIVERSITY MICHELLE DENNEDY LARRY JACKEL Chief Privacy Officer .ORTH # 4ECHNOLOGIES )NC 3UN -ICROSYSTEMS JOHN KOLB IRWIN DORROS Vice President and Chief Information Officer President 2ENSSELAER 0OLYTECHNIC )NSTITUTE $ORROS !SSOCIATES BOB OBEE REGINALD FOSTER Chief Information Officer Managing Director 92# 2EGIONAL 4RANSPORTATION "EACON %QUITY 0ARTNERS LARS RABBE JONATHAN FOX Senior Vice President and Chief Senior Manager, Privacy Governance Information Officer 3UN -ICROSYSTEMS )NTUIT
34 CED Annual Report 2007 CED STAFF
CHARLES E.M. KOLB President
LONE BRYAN Director of Trustee Relations and Secretary of Research and Policy
JERI MCLAUGHLIN Executive Assistant to the President
Research Development
JOSEPH J. MINARIK MARTHA E. HOULE Senior Vice President and Director of Research Vice President for Development and Secretary of the Board of Trustees
JANET HANSEN Vice President and Director of Education Studies RICHARD M. RODERO Director of Development
ELLIOT SCHWARTZ Vice President and Director of Economic Studies JENNA IBERG Development Associate
VAN DOORN OOMS Senior Fellow LINDSAY HOFFMAN Development Associate
MATTHEW SCHURIN Research Associate Finance and Administration
LAURA LEE CHARLES JOHNSON Chief Financial Officer and Vice President of Finance and Administration Research Associate
ANDRINE COLEMAN JULIE KALISHMAN Controller Senior Research Associate
AMANDA TURNER Communications/Government Relations Director of Administration
MICHAEL J. PETRO Vice President and Director of Business and HARRY SURJADIREDJA Government Relations and Chief of Staff Director, Database Operations and Business Analysis
MORGAN BROMAN Director of Communications
AMY MORSE Communications and Outreach Associate
JEANNETTE FOURNIER Director of Foundation Relations
LAURA OLDANIE Program Manager
EEVA MOORE Outreach Associate CED Counterpart Organizations
Close relations exist between the Committee for Economic Development and independent, nonpolitical research organizations in other countries. Such counterpart 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. Th is program has resulted in a number of joint policy statements involving such international matters as energy, assistance to developing countries, and the reduction of nontariff barriers to trade.
CE Circulo de Empresarios Madrid, Spain
CEAL Consejo Empresario de America Latina Buenos Aires, Argentina
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 Committee for Economic Development Keizai Doyukai Tokyo, Japan 2000 L Street N.W. Suite 700 Washington, D.C. 20036 SMO Stichting Maatschappij en Onderneming 202-296-5860 Main Number Th e Netherlands 202-223-0776 Fax 1-800-676-7353
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