When Federal Reserve Chairman Alan Greenspan delivered his semiannual report to Congress on Feb. 27, the unflappable economist pronounced the U.S. economy to be surprisingly... unflappable.
"If ever a situation existed in which the fabric of business and consumer confidence was vulnerable to being torn, the shock of Sept. 11 was surely it," Greenspan testified. "[But] in the past several months, increasing signs have emerged that some of the forces that have been restraining the economy over the past year are starting to diminish and that activity is beginning to firm."
He concluded, "Although there are ample reasons to be cautious, the recuperative powers of the U.S. economy... have been remarkable."
Indeed, so much has changed since Sept. 11, when terrorist attacks suddenly catapulted all of us into war and our futures into doubt. But Greenspan's words are only part of the reassuring discoveries that so many of us—once dulled by routine—have made and acted upon since last fall.
For me, my major life change lies here before you. This issue of BD&C marks my first with Reed Business Information (itself a change from our former "Cahners" moniker) and my first editorial effort outside of The McGraw-Hill Companies in 15 years. Hopefully, my tenure here will be even longer, as I lead our renewed efforts to give you the kind of dynamic and comprehensive coverage of this bellwether industry that you have come to expect from BD&C.
As I take the helm, I no doubt will lean heavily on Editor Gordon Wright, now in his 29th year with BD&C. For his part, after ably managing the editorial side of this publication since C.C. Sullivan left for other ventures last summer, Gordon now will be able to concentrate again on his first love: reporting. Over the past year, he's compiled a backlog of stories he's still itching to get at. One of my first priorities is to let him.
My other aims are still taking shape, though. So, if you have any ideas about how we can serve you or this industry better, please feel free to contact me or my staff. In short, I am excited to be here. And, to borrow from our esteemed Fed chairman, I believe BD&C's prospects for 2002 and beyond are simply "remarkable."