ECONOMIC CONDITIONS: Collapse of Enron & Worldcom raise public awareness of the importance of corporate governance; Euro currency launched
REGULATORY CHANGES: Sarbanes-Oxley enacted
PRESIDENT: George Bush
SECRETARY OF THE TREASURY: Paul O’Neil
SECRETARY OF STATE: Colin Powell
SECRETARY OF DEFENSE: Donald H. Rumsfeld
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: Lawrence J Ellison – Oracle
$706,077,000
Inflation adjusted: $803,756,000
BUSINESS ROUNDTABLE: John Dillon, CEO & Chairman of International Paper, Chairman
COUNCIL ON FOREIGN RELATIONS: Peter Peterson, Chairman
KEY BANK MERGERS: Citicorp and Golden State Bancorp; Washington Mutual and Dime Bancorp; HSBC Holdings and Household International
KEY NON-BANK MERGERS: Pfizer and Pharmacia; Northrup Grumman and TRW; eBay and PayPal
CORPORATE GOVERNANCE: Bob Monks establishes Lens Governance Advisors; TCL launches Board Analyst; ISS launches Corporate Governance Quotient (CGQ) ratings; Enron, Worldcom, other corporate scandals spark new interest in corporate governance, passage of Sarbanes-Oxley