ECONOMIC CONDITIONS:
REGULATORY CHANGES: Tax Reform Act of 1986 simplifies the income tax code and eliminates real estate tax shelters
PRESIDENT: Ronald Reagan
SECRETARY OF THE TREASURY: James Baker
SECRETARY OF STATE: George P. Shulz
SECRETARY OF DEFENSE: Caspar Weinberger
SUPREME COURT: Antonin Scalia (’86-Present); William Rehnquist (’72-’05) (Chief Justice – ’86-’05)
CONGRESS: Speaker, Tip O’Neill (D)
FEDERAL RESERVE CHAIRMAN: Paul Volcker
NY FEDERAL RESERVE: E Gerald Corrigan, President
HIGHEST PAID CEO: Lee Iacocca – Chrysler
$11,449,000
Inflation adjusted: $21,451,000
BUSINESS ROUNDTABLE: Robert A Beck, CEO & Chairman of Prudential, Chairman; Roger Smith, CEO & Chairman of General Motors
COUNCIL ON FOREIGN RELATIONS: Peter Peterson, Chairman
KEY BANK MERGERS: Sovran Financial and Suburban; Security Pacific and The Arizona Bank; Wells Fargo and Crocker National
KEY NON-BANK MERGERS: Nothwest Airlines and Republic; US Steel and Texas Oil & Gas become USX Corp; GE and Kidder, Peabody; GE and RCA; Pepsico and KFC; KKR founded
CORPORATE GOVERNANCE: