ECONOMIC CONDITIONS: Exxon Valdez oil spill
REGULATORY CHANGES: Central bankers from the world’s largest economies publish a set of banking standards – Basel I
PRESIDENT: George Herbert Walker Bush elected
SECRETARY OF THE TREASURY: James Baker; Nicholas F Brady
SECRETARY OF STATE: George P. Shulz
SECRETARY OF DEFENSE: Frank C. Carlucci III
SUPREME COURT: Anthony Kennedy (’88-Present)
CONGRESS: Speaker, Jim Wright (D)
FEDERAL RESERVE CHAIRMAN: Alan Greenspan
NY FEDERAL RESERVE: E Gerald Corrigan, President
HIGHEST PAID CEO: Charles Lazarus – Toys R Us
$60,034,000
Inflation adjusted: $106,539,000
BUSINESS ROUNDTABLE: Roger Smith, CEO & Chairman of General Motors
COUNCIL ON FOREIGN RELATIONS: Peter Peterson, Chairman
KEY BANK MERGERS: Bank of New York and Irving Trust; Shawmut and Hartford National; Shawmut and Arlington Trust; Wells Fargo and Barclays Bank of California; Security Pacific and Hibernia; Credit Suisse and First Boston; NCNB and First Republic
KEY NON-BANK MERGERS: GM and Saab (50%); Shearson Lehman and EF Hutton; KKR takeover of RJ Nabisco, Rupert Murdoch buys TV Guide
CORPORATE GOVERNANCE: Avon Letter