President’s Letter

Fellow NABE members:

Despite the rather dreary economic outlook, I'm happy to report that good things are happening at NABE! 

I just recently had the pleasure of attending NABE's sixth annual Professional Development Seminar or PDS.  Over 100 attendees heard presentations from representatives of key statistical agencies — the Bureau of Economic Analysis, the Bureau of the Census and the Bureau of Labor Statistics, as well as the Flow of Funds division of the Federal Reserve — and NABE members who use these statistics in their work. The feedback I heard from attendees was very encouraging. Not only did those comments indicate that the seminar was perceived to be of tremendous immediate value, but many of those commenting who were new to NABE indicated that they were pleasantly surprised by what they learned from and about NABE and the warm welcome they received from other NABE members.  My impression was that many of these attendees will turn out to be long-term members of NABE. 

In late March, I spoke to two very vibrant NABE chapters in California.  Both the LA and San Francisco chapter meetings were well attended, and I sensed that these chapters were doing a great job of putting on programs of interest to their members. Subsequent to those visits I heard from both of the chapter presidents that they were able to sign up new members on the spot.  One of those new members attended the PDS.

These observations raise a point worth making. Increasingly I find that when exposed to the excellent programming, people, and purpose of NABE, potential new members not only choose to join NABE, but are so excited about what they find that they begin to recruit new members.  This tells me that we are on the right track. And, it tells me that current members can make a real contribution to NABE by telling their colleagues and friends about the value of NABE membership. 

Let me update you on three additional developments that I am personally committed to and which I feel will help to build a stronger and more valuable organization for our members.

As some of you likely already know, NABE has launched an initiative to better understand the professional and career development needs of our current and potential members in order to identify a “body of knowledge” relevant to the career success and advancement of all professionals who use the tools and methods of economic analysis in their work.  We sent a survey to members and non-members a couple of weeks ago to solicit input on the perceived needs in this area.  (If you have not completed the survey please check your incoming e-mail from April 22 for a reminder with a link to the survey.)  In mid June, I am convening a Professional and Career Development Summit (PCDS) in Washington.  In attendance will be seasoned NABE leaders, mid-career and newer professionals, and NABE’s consultant who is assisting us in this endeavor.  The purpose of the PCDS is to use the results of the survey we are now conducting and the input from this assemblage to advance the identification of this body of knowledge and make a start on designing a professional/career development curriculum relevant to NABE members and potential members. The results of this meeting and this effort will have a lasting and critical impact on the ability of NABE to serve its members in a way that really matters for their professional success. 

Our current executive director Susan Doolittle will be retiring this fall after serving with distinction for 15 years. Our search committee convened last fall and selected an executive search firm to assist NABE in filling this very important position. A large number of well-qualified candidates have applied, and the search committee is about to begin the process of winnowing this group down to the select few whom we will interview in person in mid-May. We expect to extend an offer by the time of our next board meeting on May 20. Based upon the pool of applicants in hand and my confidence in the good judgment of the members of the search committee, I am confident that we will choose another excellent executive director to help guide NABE over the next many years. 

We are working to broaden NABE’s focus from a relatively U.S.-centric view to a more global one.  We held the first “Global Outlook Teleconference” in February and we will continue a series of these quarterly calls focusing sequentially on different regions.  Our next call is scheduled for May 26, when we will feature updates on the outlook for both the U.S. and Chinese economies. 

Planning for NABE’s 51st Annual Meeting is well underway.  The theme of the meeting is “The New Global Financial and Economic Architecture.”  This meeting is being held October 10-13 in St. Louis — not my decision, but I’m happy to welcome you all to my home town!  We will again host an optional Saturday evening dinner event.  I am very pleased with the progress the program committee has made thus far, and I am expecting a really outstanding final program.  Mark your calendars!

Finally, it is my pleasure to welcome to the NABE Board of Directors Dr. Rajeev Dhawan, who is head of the Economic Forecasting Center at Georgia State University.  Rajeev has been a frequent attendee at our meetings and active in NABE for some time.  He will serve out Paul Bennett’s first year, after Paul unfortunately found it necessary to withdraw from the board to meet new professional responsibilities. Rajeev will stand for election to a two-year term this summer.   

On a sad note, NABE lost another great friend and colleague in April with the passing of Ed Mennis.  Ed served as editor of Business Economics from 1985-1999.  Those of us who knew him mourn his passing and would like to express our gratitude for all he did for NABE. 

I look forward to seeing many of you in St. Louis in October, and welcome your comments and suggestions at any time for how to build a better NABE.

Sincerely,

Chris Varvares