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Economic Globalization THE ECONOMIC C LUB CELEBRATING 25 YEARS OF WASHINGTON, D. WASHINGTON, as the Premier Forum THE ECONOMIC CLUB OF WASHINGTON, D.C. for Leaders C . CELEBRA T ING 25 YEAR S Publications Credits: Carole Trimble, Writer and Editor Photography by: Paul Morse Ralph Alswang Cecil Brathwaite Neshan Naltchayan Design and Printing by MOSAIC Cheverly, MD CELEBRATING 25 YEARS as The Premier Forum for Leaders 2 THE ECONOMIC CLUB OF WASHINGTON, D.C. A Message from the President Twenty-five years ago, The Economic Club of Washington, The Economic Club also supports other area initiatives that D.C., was founded as a forum to bring together global benefit the greater good of the region in which we live and business, economic and finance, government, and diplomatic work. I am particularly proud that Club members decided to leaders to discuss profound issues challenging the world. commemorate our 25th anniversary by donating $500,000 The Club was established by local to several outstanding nonprofit organizations that provide business people who recognized the important support and services for young people. This is a powerful role Washington, D.C., plays in fitting tribute to the founders of the Economic Club and the the regional as well as the national and spirit in which they launched this very special organization. global economies. They believed that a Today, the Economic Club is a much sought-after forum for the need existed for an organization where exchange of perspectives on the greatest issues confronting influential voices could be heard by top- the world. Our list of past speakers is an impressive line-up of level decision-makers. global leaders from business, government, and finance. The men and women who founded Highlights of Economic Club programs and some of the the Economic Club were people of most profound comments made by speakers over the past tremendous vision and foresight. They quarter century are shared in the following pages that track shared a deep commitment to the the history of the Economic Club. I hope you enjoy revisiting well-being of Washington, D.C., and the surrounding area. these historic moments. Many of them were instrumental in the rebirth of the region as a vibrant metropolitan area with a strong business core I want to thank Warren Buffett for being our special guest and a thriving arts community. From the beginning, they at our 25th anniversary dinner to help The Economic Club envisioned the Economic Club as a mechanism for spotlighting of Washington, D.C., observe this milestone. I also want to the growing importance of the Washington metropolitan thank our sponsors who made this quarter-century area as a critical—and expanding—global business center. celebration possible. A second goal of the Economic Club founders was to And finally, I want to thank our Honorary Co-Chairmen for this build an organization that would help forge stronger evening, Senator George J. Mitchell and Vernon E. Jordan, Jr., links among area businesses, bonding them more closely who as past presidents of the Economic Club of Washington as a community. The result has been a more tightly set such a high standard for me to meet. I look forward to knit metropolitan business community whose leaders continuing to work with our officers, board members, and learn from each other and work together to help resolve members into the next quarter century. many of the challenges confronting the region. Regards, In particular, the Economic Club has served as a strong supporter of educational opportunities for Washington, D.C., students. Through the Club, our business community makes David M. Rubenstein significant contributions with our scholarship programs that, President in recent years, have contributed over $500,000 to help more than 100 graduating seniors in Washington public schools and public charter schools pursue their dreams of higher education. Celebrating 25 Years as The Premier Forum for Leaders 3 History 7 A Tribute to Economic Club Presidents 10 SPEAKERS Table of Global Leaders 18 Economic and Financial Experts 28 Contents Corporate Executives 34 Political Leaders and Government Officials 42 Thought Leaders 50 Community Commitment 52 Education Initiatives 54 Economic Club Programs 58 A Look Ahead: The Next 25 Years 59 A Tribute to 25-Year Members 60 IN APPRECIATION Letter from the Executive Director 61 Legacy Sponsors 62 Heritage Sponsors 64 Distinguished and Tribute Sponsors 67 25th Anniversary Chairs and Committee Members 68 THE ECONOMIC CLUB OF WASHINGTON, D.C. Officers 69 Board of Directors 70 Chronological List of Speakers 71 Index of Speaker Excerpts 77 History The Economic Club of Washington, D.C., was a success leaders, many of whom quickly saw the advantages to before the first meeting had even occurred in the fall of founding an economic club, although some detractors 1986. Soon after supporters announced a membership questioned whether Washington really needed such a recruitment drive, area business leaders were quick to nonprofit group. accept invitations to join. With an original cap set at One of the first to endorse the idea was Robert Linowes, a 100 members for the first year, membership was cut prominent D.C.-area lawyer and civic leader who became off at 135 in July, two months before the first meeting the Economic Club’s first President. Other business was scheduled to be held. Clearly, the Club was filling leaders who were enthusiastic supporters and became a large niche for the business community of the D.C. the first officers of the Club were Donald E. Smith, metropolitan area that no one had previously Vice President of Exxon recognized was empty. Corporate, who served as At the time the idea of an economic club was first Vice President; Nancy Clark Washington has long spoken to the presented in the mid-1980s, the Washington business Reynolds, a Partner with the nation and the world on economic community was in the midst of a major transformation. public affairs firm of Wexler, subjects. We are now creating a A formerly compact community centered in the District Reynolds, Harrison and platform upon which outstanding of Columbia was diversifying and decentralizing. A Schule, Inc., who was Vice viewpoints on national and global growing recognition of the advantages for businesses to President for Programs; issues can be presented to the be located near or maintain offices or operations near Edwin K. Hoffman, Washington region’s dynamic and the nation’s capital fueled an explosion of growth in the Chairman of the Board, growing economic sector. region. Evolving business and social dynamics fed the fire. Woodward and Lothrop, Washington The burgeoning technological revolution, acquisitions Inc., who was Vice President and mergers, deregulation, suburban sprawl, the for Membership; Stephen R. ROBErt has long emergence of a global economy, and diversification of D. Harlan, Managing spoken to the workforce contributed to a disbursement of a formerly Partner, Peat, Marwick, LINOWES close-knit business district. Mitchell, who was Treasurer, the nation Attorney and first President of the and Mr. Sparks who was Therefore, the concept of forming an economic club in Economic Club, September 1986 and Secretary. the metropolitan D.C. area fell on fertile ground. The the world on initial idea was presented by Dr. Joan Abrahamson, a After a year of consultation and collaboration, The former White House Fellow and Assistant Chief of Staff Economic Club of Washington, D.C., was established. economic to then Vice President George H. W. Bush, to Kenneth The stated purpose by the Club’s founders was to form subjects. R. Sparks, Executive Vice President and Chief Executive a group that would serve to recognize “the unique and Officer of the Federal City Council. critical role that Washington plays in the world economy and of the area’s increasing economic diversity and Mr. Sparks recognized the value that such an organization importance as a center of business activity.” could have in drawing closer together a growing business community dispersed throughout the metropolitan area. The original plan was to hold three or four dinner He introduced the concept to key community business meetings per year featuring “distinguished speakers” Celebrating 25 Years as The Premier Forum for Leaders 7 discussing “the major economic and political issues When people say that it is an of the day.” The goal was to “bring together a cross- section of local and national leaders from business and honor to speak to a group, in this industry, the diplomatic community, and government.” case it is actually true. The founders anticipated that, “An invitation to address When people say that it is an honor to speak to a group, in the Economic Club of Washington is expected to this case it is actually true. My old friend Anne Wexler once become one of the most prestigious and sought-after mentioned that I might speak to the Economic Club, and I speaking engagements in the country.” thought Anne was just flattering me. But then, when I was Additionally, the founders envisioned the Economic seated next to Vernon [Jordan] at a dinner this summer in Club as providing a forum for information exchange Boston, he said something about it and I didn’t even know he and promoting “a greater sense of community among knew who I was. It really is a thrill. area business leaders, government officials, and members of the diplomatic corps.” Since its founding, the Economic Club has grown CHARLES COOK steadily and expanded its influence internationally. Editor and Publisher of The Cook Political Report and Political Membership was increased to 150 at the end of the Analyst for the National Journal Group, December 2004 Club’s second season in spring 1988 and capped again at 200 members just two years later.
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