1:00-5:00 pm

AUBER Executive Committee Meeting

3:30-5:00 pm

NABE Chapter Presidents' Meeting

5:00-6:30 pm

Pre-conference AUBER-NABE Reception

6:00-8:00 pm

NABE Board Meeting

7:30-8:00 am

Registration and Coffee

8:00-8:45 am

Opening Keynote Session: Corporate Governance
Our system of corporate governance has long been regarded as the best in the world. But it has been tarnished, and investor confidence in Corporate America is at a low ebb. The policy pendulum is swinging towards more regulation, oversight and disclosure, and some is clearly needed if not long overdue. But policymakers need to find the right balance in order not to stifle entrepreneurship.

Tim O'Neill, NABE President/Chief Economist BMO Financial Group, welcome
Cynthia A. Glassman, Commissioner, Securities and Exchange Commission, introduction
William H. Donaldson, Chairman, Securities and Exchange Commission

9:00-9:45 am

Corporate Responsibility and Transparency: Meeting the Challenges and Opportunities
Partner: NABE Financial Roundtable

Mary Ann Greenwood, President, Greenwood and Associates, presiding
Gary S. Schieneman, Board Member, Financial Accounting Standards Board

9:45-10:15

Networking Break
PARTNER: PNC Financial Services Group

Poster Board Session
At this session consultants will present their services, analysts will explain methodologies, researchers will welcome feedback on their research, and opinion leaders will present their points of view. This is an opportunity for conference attendees to participate in the program and exchange ideas.
Christopher M. Swann, Global Insight, “Intermodal Competition in Local Telecommunications”
Thomas Kelley, Cambridge Consumer Credit Index, “Consumer Attitudes Toward Consumer Credit”
Clive Richmond, U.S. Bureau of the Census, “The American Community Survey”
Sara Burbine, FactSet Research Systems, “Using Economic Data on FactSet”
Richard Sims, Institute on Taxation and Economic Policy "Who pays the state and local taxes?"
Nicholas Jenny, Rockefeller Institute, "Fiscal Crisis in the States"
Bureau of Economic Analysis "New Tool for Accessing the 1997 Benchmark I-O Account"

10:15-11:15

State and Local Fiscal Crisis
Partners: AUBER and NABE Regional-Utility Roundtable

R. Keith Schwer, Director, Center for Business and Economic Research, University of Nevada Las Vegas
Nicholas W. Jenny, Senior Policy Analyst, Nelson A. Rockefeller Institute
Richard G. Sims, Director of Tax Policy, Institute on Taxation and Economic Policy

11:15-12:30 pm

Concurrent educational sessions

Session 1
Initial Steps on Governance: Is It Enough or Do We Need Reform?
Initial Steps on Governance: On The Old Target, But Has The Target Changed?"Thanks to stock options the U.S. model has shifted from an 'outsider' shareholder-dominated model, to an 'insider' model. As with all forms of insider capitalism, the returns to outside shareholders are partly at the discretion of the insiders." John Plender, FT, May 29, 2002. Robert Litan’s comments will come from his book, Following the Money: The Enron Failure and the State of Corporate Disclosure (Litan, et al.). Our speakers will discuss whether the steps taken to date and under active consideration make any significant difference in taking us back to the ‘outsider’ model.

Jonathan Francis, Head of Global Strategy, Putnam Investment Management, presiding
Robert Litan, Vice President and Director, Economic Studies/The Cabot Family Chair
John Plender, Correspondent, Financial Times

Session 2
What Role Should Institutional Investors Play in Improving Corporate Governance?

Richard B. Berner, Chief U.S. Economist, Morgan Stanley, presiding
Steve Galbraith, Chief Investment Officer, Morgan Stanley, Inc.
William Stromberg, Director of Research, T Rowe Price Group, Inc.
George S. Dallas, Managing Director, Governance Services, Standard & Poor's

12:30-1:45 pm

Luncheon
Strategic Economic Policy Challenges

Tim O’Neill, NABE President/Chief Economist BMO Financial Group, presiding
Rosemary Marcuss, Deputy Director, Bureau of Economic Analysis, introduction
Anthony H. Cordesman, Arleigh A. Burke Chair in Strategy, Center for Strategic and International Studies

1:45-2:15

Dessert and Coffee
Watergate Foyer

2:15-3:15

Long-term Fiscal Policy

Ellen Hughes-Cromwick, Director, Corporate Economics & Strategic Issues, Ford Motor Company, presiding
R. Glenn Hubbard, Former Chair, Council of Economic Advisers

3:15-3:45

Networking Break
Watergate Foyer
Partner: Motorola
Poster Board Session Continues

3:45-5:00

Concurrent educational sessions

Session 1
Near-term Fiscal Policy Outlook

Gail D. Fosler, Senior Vice President/Chief Economist, The Conference Board, presiding
Rudolph G. Penner, Senior Fellow and Arjay & Frances Miller Chair, The Urban Institute, and Former Director, U.S. Congressional Budget Office
G. William Hoagland, Director of Budget and Appropriations, Office of Senate Majority Leader Frist, U.S. Senate

Session 2
Health Care
In the area of health care, most observers agree that the present provision of services to our citizens is seriously flawed and does not provide proper access to millions of people. At the same time, medical care spending is substantial and exceeds, on a quality-adjusted basis, the health care provisions in other countries. Our speakers will discuss how business leaders and policymakers might engineer a better health care future for our current citizens and the generations that follow.

Greg Scandlen, Director, Center for Consumer Driven Health Care, The Galen Institute, presiding
Robert D. Reischauer, President, The Urban Institute and Former Director, U.S. Congressional Budget Office
Uwe E. Reinhardt, Professor, Woodrow Wilson School of Public and International Affairs, Princeton University

5:00-5:30

“The Political Economy of Activist Government Policy”

Robert H. Dugger, Managing Director, Tudor Investment Corporation, presiding
Thomas D. Gallagher, Senior Managing Director, International Strategy and Investment Group

6:00-7:30 pm

Reception

Sequoia Restaurant in Georgetown

8:00-9:30 am

Breakfast
Partner: Global Insights

Monetary Policy in a Changing World
Our policy makers face enormous challenges. It's a post-bubble, highly disinflationary world that is reshaping our thinking about growth and inflation norms. With no significant engine for growth outside the U.S., our macroeconomic policies will play a critical role in promoting recovery both at home and abroad. Businesspeople, consumers, investors and policymakers face Knightian uncertainties, as opposed to risk, that cloud the outlook. Our speaker will provide insight into these issues.

Duncan H. Meldrum, Chief Economist, Air Products & Chemicals, Inc., presiding
Richard B. Berner, introduction, Chief U.S. Economist, Morgan Stanley
Ben S. Bernanke, Governor, Federal Reserve System

9:30-10:00

Networking Break
Partners: Haver Analytics and Macroeconomic Advisers

10:00-11:00

Statistics and Policy: Agenda for Improvement
Partner: AUBER and the NABE Statistics Committee

The panelists will discuss the importance of quality economic statistics in policy formulation. They will provide concrete examples of data series that need improvement and aspects of the data that many data users may overlook in their use. Of special interest will be limitations of the data that affect the quality of analysis you are able to perform.

Maurine Haver, presiding, Chair, NABE Statistics Committee, and President, Haver Analytics
John F. Peterson, Unit Chief for Projections, Congressional Budget Office
William L. Wascher, Assistant Director, Federal Reserve Board
Randall S. Kroszner, Member, Council of Economic Advisers

11:15-12:30

Concurrent educational sessions

Session 1
Global Engines of Growth: Will The Next WTO Round Help?
Partner: NABE International Roundtable

Can trade leverage growth both to developed and developing economies and ultimately promote new global engines of growth, besides the U.S., to achieve a more robust world economy? Can it be done in this period where concerns exist over expansive growth and trade policies? Our speakers will offer keen insights on such conflicting issues in the context of the WTO Doha Trade Round.

Robert E. Fish, presiding, Chief Economist, CSM Worldwide
Steve Beckman, Assistant Director, Government and International Affairs, UAW.
Fred Bergsten, Director, Institute for International Economics
Clayton Yeutter, Of Counsel to Hogan & Hartson, and former U.S. Trade Representative

Session 2
Is Japan Alone? Unconventional Tools in a Deflationary Zone
Partner: NABE Financial Roundtable

Carl Tannenbaum, Chief Economist, LaSalle Banks/ABN AMRO N.A., presiding
Steve Kamin, Deputy Associate Director, Division of International Finance, Federal Reserve Board
Vincent Reinhart, Director of the Division of Monetary Affairs, Federal Reserve Board

12:30-2:00 pm

Luncheon

Ellen Hughes-Cromwick, Director, Corporate Economics & Strategic Issues, Ford Motor Company, presiding
John W. Snow, U.S. Treasury Secretary