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The Economic Club of Washington, DC | The ECONOMIC CLUB of WA SH I NGT ON , D.C . THE PREMIER FORUM FOR LEADERS ANNUAL REPORT 2011–2012 ANNUAL REPORT 2011–2012 1 The ECONOMIC CLUB of WA SH I NGT ON , D.C . THE PREMIER FORUM FOR LEADERS Message from the PResident or the past 25 years, The Economic Club of Washington, way at the celebration through the presentation of the Economic F D.C., has served as a bridge bringing the region’s Club’s 25th Anniversary Community Grants. Ten nonprofit business, government, and diplomatic communities closer organizations providing services to underserved youth in the together by providing a forum for globally recognized leaders area were each awarded a special, one-time grant of $50,000. to speak on a wide variety of issues. This quarter century milestone was celebrated throughout the Club’s 2011–2012 The anniversary season also began on a memorable note, starting season, culminating in a special anniversary dinner in June. with back-to-back lunch meetings featuring, first, Speaker of the House of Representatives John Boehner (R-OH), and a day At that dinner, more than 1,600 members and guests joined later, the Honorable Thomas Donilon, National Security Advisor. in a tribute to the Economic Club’s history, including its Speaker Boehner delivered a major economic policy speech founders and past presidents, and the role that the Club has on the heels of one made a week prior by President Obama. played in forging stronger links among the dispersed business community of the Washington metropolitan area. The evening’s In between, Economic Club members and their guests program featured an interview with special guest Warren heard from eight other distinguished leaders from the Buffett, a personal video message from President Obama, and worlds of business and government. Highlights of these a historical video about the Club. A special commemorative speakers’ remarks are featured in the following pages. book highlighting the Club’s history, through memorable quotes drawn from noted guest speakers across our first 25 years, was These type of signature events extend the impact of the Club also produced and presented to the members and guests. well beyond the members and their guests. The extensive media coverage that most events attract makes it possible for a worldwide The Club’s commitment to giving back to the greater audience to learn of the knowledge and information shared Washington community was acknowledged in a very special by the business and government leaders who are our featured 2 ThE ECONOMIC CLUB OF WASHINGTON D.C. | THE PREMIER FORUM FOR LEADERS speakers. Most events are now covered by several national and were honored as the recipients of the David M. Rubenstein/The international television outlets, global news services, web-based Economic Club of Washington, D.C. Scholarships. Each awardee publications, foreign press, and major national reporters and received a two-year college scholarship totaling $10,000. photographers. This international dissemination of our speakers’ key points is one of the reasons why so many well-respected Now we begin the next quarter century for the Economic Club leaders view the Economic Club as a preferred speaking platform. of Washington. As the business community in our nation’s capital continues to expand, the Economic Club will keep pace. We Throughout the 25th season, members also exchanged their will continue to provide a forum in which prominent business knowledge and experiences in smaller group settings through and government leaders can express their views on the most the Club’s Member-hosted Dinner series and our newly launched important economic and policy issues of the day, and how those Executive Conversations program. Initiated this spring, the issues affect the region, the nation, and the world. Through Executive Conversations are exclusive events for Economic these activities, and the resulting media coverage they attract, Club members only. Individual Club members host a small we will continue to expand awareness of The Economic Club group discussion, for about 20 other members, at the host of Washington, D.C., as “The Premier Forum for Leaders.” organization’s offices. Executive Conversation hosts determine the topic for discussion, most often sharing information We appreciate your interest in the Club and welcome your about trends and developments in their particular fields. participation and support. Also of importance in this milestone year, the Economic Sincerely, Club doubled its commitment to the education program that awards scholarships to graduating seniors from D.C.-area public schools. At a special presentation in May, 44 seniors DAVid M. RUBENSTEIN | PREsidENT ANNUAL REPORT 2011–2012 3 4 ThE ECONOMIC CLUB OF WASHINGTON D.C. | THE PREMIER FORUM FOR LEADERS The ECONOMIC CLUB of WA SH I NGT ON , D.C . rganized in 1986 as a nonprofit, non-partisan corporation, the House of Representatives, heads of the Federal Reserve Board, O The Economic Club of Washington, D.C., was established every Secretary of the Treasury since 1986, numerous other Cabinet in recognition of the unique and critical role that Washington members and government officials, and many leaders of Fortune plays in the national and world economies and because of the 100 corporations. An average of 350 members and guests attend Washington metropolitan area’s increasing economic diversity each meeting with attendance for some events surpassing 600. and importance as a center of business activity. One goal of the founders was to create a forum from which eminent global Economic Club members are Washington area company CEOs leaders from all different sectors of life could share their insights and CFOs, entrepreneurs, investment professionals, government about major issues. Secondly, the founders wanted to build an affairs professionals, lawyers, accountants, and local government organization that would generate and promote a greater sense of officials. Currently, the Club has more than 600 members. community among the area’s top executives, regional and national government officials, and members of the diplomatic community. In addition to our signature events presenting featured speakers, the Economic Club sponsors other programs that Since that time, the Economic Club of Washington has evolved into draw the metropolitan region’s business community closer a vibrant mechanism for connecting prominent business leaders together and provide opportunities for area business leaders in the Washington, D.C., area. It also has become an influential to share information and learn from each other about unique forum for the exploration of national and global public policy industry trends. The Club also is committed to giving back to issues, ably fulfilling the dual mission for which it was formed. the greater community in which our members live and work. Members actively support education initiatives that annually Today, the Economic Club is one of the most sought after speaking award $30,000 in doctoral candidate fellowships. The David forums in the country. The list of speakers who have addressed the M. Rubenstein/Economic Club of Washington Scholarship Club over the past 25 years includes a President of the United States, Program presents $440,000 every year in college scholarships a former Prime Minister of the United Kingdom, the Speaker of to seniors graduating from Washington, D.C., public schools. ANNUAL REPORT 2011–2012 5 OFFiceRS PRESIDENT Vice President—MEMBERSHIP NOMINATING CO-CHAIRMAN David M. Rubenstein Christopher Simmons Christopher G. Caine Co-Chief Executive Officer Washington Metro Managing Partner President & CEO and Managing Director and U.S. Board Member MERCATOR XXI, LLC THE CARLYLE GROUP PwC NOMINATING CO-CHAIRMAN VICE PRESIDENT Vice President—Finance David Pollin Deborah I. Dingell John C. Lee, IV President Chair, Manufacturing Initiative Chairman & CEO THE BUccINI/POLLIN GROUP AMERICAN POLICY COUNCIL LEE TECHNOLOGIES President GENERAL COUNSEL Vice President—EDUCATION D2 STRATEGIES Wendelin A. White Jeffrey A. Eisenach Partner Vice President—PrOGRAMS Managing Director and Principal PILLsbURY WINTHROP Edward J. Mathias NAVIGANT ECONOMICS SHAW PIttMAN LLP Managing Director Vice President—AUDIT EXECUTIVE DIRECTOR THE CARLYLE GROUP Maritza Montiel Mary Brady Vice Chairman DeLOIttE LLP Committee TasK FoRce RESOURCE DEVELOPMENT COMMITTEE GRANTS Sudhakar Shenoy Lyles Carr Founder, Chairman and CEO Senior Vice President INFORMATION MANAGEMENT CONSULTANts, INC. THE McCORMICK GROUP, INC. 6 ThE ECONOMIC CLUB OF WASHINGTON D.C. | THE PREMIER FORUM FOR LEADERS BoaRD of DIRectoRS* Brian Berry David Geanacopoulos Carol Melton Managing Director, Regional Director Executive Vice President for Public Executive Vice President, Global Public Policy TISHMAN SPEYER Affairs and General Counsel TIME WARNER INC. VOLKSWAGEN GROUP OF AMERICA, INC. Katherine Bradley Thomas Patton President Michele V. Hagans Vice President Government Relations CITYBRIdgE FOUNDATION President and CEO PHILIPS ELECTRONICS FORT LINCOLN NEW TOWN CORPORATION Arne L. Christenson Linda D. Rabbitt Senior Vice President, Federal Michael Harreld Chairman & CEO Government Affairs President RAND CONstRUCTION CORPORATION AMERICAN EXPRESS PNC BANK OF GREATER WASHINGTON Joe Rigby Timothy C. Coughlin Hon. Frank Keating Chairman, President and CEO Managing Director President and CEO PEPCO HOLDINGS INC. EdgEMOOR INVEstMENT ADVISORS, INC. AMERICAN BANKERS AssOCIATION Julie Rogers William Couper Deborah J. Kissire President & CEO President, Mid-Atlantic
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    The Economic Club of Washington, D.C. Welcome and moderator: David Rubenstein, President, Economic Club of Washington Speaker: Ursula Burns, Chairman and CEO, Xerox Washington, D.C. 7:00 p.m. Wednesday, October 5, 2011 Transcript by Federal News Service Washington, D.C. (edited) DAVID RUBENSTEIN: We’re very pleased to have Ursula Burns as our special guest this evening. Ursula Burns is the Chairman and CEO of Xerox, a position she assumed in July of 2009. When she took that position, she became at the time – and still is – the only African- American woman heading a Fortune 500 company. She also was, at the time, the only woman to succeed another woman who had been the CEO of a Fortune 500 company. That company, Xerox, is a company well known to many people here. It and its predecessors are over a hundred years old. It has a market capitalization of about $10 billion, revenue of about $22 billion. It operates in a 160 different countries and has about 133,000 employees. That she would become the CEO and Chairman of this company was hardly foreordained when you consider her background. She is the child of two Panamanian immigrants to the United States; grew up with two siblings in the lower East Side of New York. A single mother raised her. She was smart enough to get a scholarship to the Polytechnic Institute in New York and earned a mechanical engineering degree. She followed that with a master’s degree in mechanical engineering from Columbia. During the summer between those times and getting those degrees, she began a career at Xerox as a summer intern and stayed there for her entire career.
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