ECONOMIC CONDITIONS: AOL acquires Time-Warner
REGULATORY CHANGES: Commodity Futures Modernization Act exempts credit default swaps and trading on electronic energy commodity markets from regulation
PRESIDENT: George W Bush elected
SECRETARY OF THE TREASURY: Lawrence Summers
SECRETARY OF STATE: Madeleine Albright
SECRETARY OF DEFENSE: William S. Cohen
SUPREME COURT:
CONGRESS: Speaker, Dennis Hastert (R)
FEDERAL RESERVE CHAIRMAN: Alan Greenspan
NY FEDERAL RESERVE: William J McDonough, President; Peter Peterson, Chairman
HIGHEST PAID CEO: Charles Wang – Computer Associates
$650,048,000
Inflation adjusted: $786,613,000
BUSINESS ROUNDTABLE: Robert Burt, CEO & Chairman of FMC Corp, Chairman
COUNCIL ON FOREIGN RELATIONS: Peter Peterson, Chairman
KEY BANK MERGERS: Chase Manhattan and JP Morgan; Washington Mutual and Bank United; Wells Fargo and First Security; UBS AG and Paine Webber; MGM Grand and Mirage Resorts
KEY NON-BANK MERGERS: GlaxoWellcome and SmithKline Beecham; AOL and Time Warner; GM and Fiat (stake only); Ford and Land Rover; DaimlerChrysler stake in Mitsubishi and Hyundai; Chevron and Texaco; MCI and SkyTel; Tribune Co. and LA Times; Washington Times and UPI; Unilever and Bestfoods; Vivendi and Seagram’s Corp; Philip Morris buys Nabisco
CORPORATE GOVERNANCE: