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Steve Forbes M arch 6, 2010

The Richmond Forum brings leaders from the world stage to our stage in Richmond—to expand horizons, stimulate conversation, and inspire our community.

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letter from the e xecutive director

letter from the

Executive Director Welcome to The Richmond Forum. I sure hope that you’re reading this on March 6th and that the crazy winter weather hasn’t dealt us another blow. What a winter it has been! As you know, our February program with David Plouffe was rescheduled for May 8th, which I personally promise will be a beautiful, warm, sunny day in Richmond. This is the first time in the history of The Richmond Forum that we have had to reschedule a program and I really need to thank all of the people and organizations that helped make the new date possible: the Landmark Theater; the Omni Richmond Hotel; Winn Transportation; all of the members of our wonderful production team; the evening’s moderator, Kelly O’Keefe; Susan Greenbaum, who was to provide the evening’s musical entertainment; our security team; our many volunteers, including our Trinity student ushers; and WCVE who was all set to record the program. A special thank you must also be extended to David Plouffe who opened up his calendar to us and made a new date possible. I also thank the members of our Board of Directors who lent their advice and support and particpated in the pulling of the ripcord, as well as the members of The Richmond Forum staff who so quickly and efficiently got the word out. Thank you Dee, Heidi, and Debbie! Finally, thank you to all of you, our subscribers and sponsors, who supported our decision and shared your positive feedback. Now, may we never have to do that again! Seriously, we look forward to seeing you on May 8th for the rescheduled program.

Meanwhile, tonight we are in for a special and timely evening with Steve Forbes. Steve Forbes is a man with answers, all based in a positive attitude and a belief in the most fundamental concepts of capitalism. We are looking forward to hearing his wide-ranging insights and perspectives tonight. After intermission, I will have the pleasure of announcing the speakers for the 2010-2011 season of The Richmond Forum, our 25th season. Once again, we are very excited about the lineup of speakers who have accepted our invitation to address you next year. They are a varied and fascinating group and, for our silver anniversary, there are several firsts in the list, including The Forum’s first-ever sitting head of state. But that’s all I’ll share for now. Thank you to all of you who submitted your speaker suggestions and to our Program Committee who helped narrow the field. Please enjoy this evening’s program.

Bill Chapman

Connecting Richmond to the World.

How Capitalism Will Save Us M arch 6, 2010

Lead Patron

Genworth Financial

Host Patron

Owens & Minor

Producer Patron

Hourigan Construction

Producer Patron

The Trust Company of Virginia

Producer Patron

Wachovia, a Wells Fargo Company

Opening program

The Butterbean Jazz Quartet

National Anthem

Terri Simpson

Opening remarks

Bill Chapman Executive Director The Richmond Forum

Welcome and introduction of tonight’s speaker


Leon Roday Senior Vice President, General Counsel & Secretary Genworth Financial Steve Forbes Fifteen Minute Intermission for Collection of Audience Questions

Remarks and introduction

Mr. Chapman

of tonight’s moderator Audience Questions Closing Remarks

Mr. Forbes and Kim Scheeler Mr. Chapman

Tonight’s presentation may not be recorded or photographed by any means for any purpose. The Forum’s publications are printed by B&B Printing.

tonight ’s pr ogra m

Steve Forbes

t o n i g h t ’s l e a d pat r o n

Tonight’s Lead Patron Genworth Financial, Inc. is a publicly traded global financial security company with more than $100 billion in assets. We serve more than 15 million customers and have a presence in more than 25 countries.The company can trace its Richmond roots back to 1871 when The Life Insurance Company of Virginia wrote its first policy. Genworth is recognized in Standard & Poor’s 500 Index of Leading U.S. companies and ranked in the Fortune 500. Genworth helps millions of people around the world create financial security. We keep our promises to our customers by carefully managing our resources and staying financially strong. We focus on what we do best and what’s important to our customers by providing innovative products in growing market segments, including life and long term care insurance, individual and group annuities, investment products, wealth management, Medicare supplement insurance, life style protection insurance and mortgage insurance. We are passionate about making a difference for our employees, communities and our industry. In 2009, Genworth employees across the globe logged more than 30,000 volunteer hours with more than 18,000 hours dedicated to helping make the Richmond region an even better place to live and work. The Genworth Foundation funded dozens of philanthropic projects throughout the region to

help improve the lives of children and families and to make our communities stronger. And we were especially proud and excited to participate in the grand opening earlier this year of the Genworth BrightLights Education Center at Richmond CenterStage. We are building our business today to address where the markets are headed, not where they have been. Our 6,000-plus Genworth associates believe in what we are doing — finding solutions to help people lead successful and secure lives.

Owens &Minor, like Steve Forbes, is committed to reaching new heights.

9120 Lockwood Boulevard Mechanicsville, VA 23116 l 804.723.7000

Richmond Forum Ad.indd 1

1/26/10 9:03:25 AM

Could capitalism have a stauncher advocate in our time than Steve Forbes? He is a self-described “capitalist tool,” echoing the slogan of the business magazine founded by his grandfather, B.C. Forbes, and propelled to the must-read level by his father, Malcolm Forbes, Sr. Today, as president and chief executive officer of Forbes, Inc. and editor-in-chief of Forbes magazine, Steve Forbes presides over one of the most influential sources of business information and opinion in the nation. Tonight, the two-time candidate for the Republican presidential nomination shares his thoughts on how capitalism is still the answer to the problems of our times. A champion of free trade and fundamental reform of the American tax system through a flat tax on income, Forbes is the author of A New Birth of Freedom (1999); Flat Tax Revolution: Using a Postcard to Abolish the IRS (2005); Power Ambition Glory:The Stunning Parallels between Great Leaders of the Ancient World and Today...and the Lessons You Can Learn (2009); and How Capitalism Will Save Us: Why Free People and Free Markets Are the Best Answer in Today’s Economy (2009). He is a frequent guest on CNN, MSNBC, Fox News, and NBC’s Meet the Press. Born in 1947 in Morristown, New Jersey, Malcolm Stevenson Forbes, Jr., graduated from Brooks School in North Andover, Massachusetts in 1966. He received a B.A. in history from Princeton in 1970. While at Princeton, he joined two fellow students in founding Business Today magazine, which is still run by Princeton undergraduates and now has a circulation of 200,000. Following graduation, Forbes joined the family business, becoming president of Forbes, Inc. in 1980 and succeeding his father as editorin-chief of Forbes magazine in 1990.

In 1985, President Reagan appointed Forbes head of the Board of International Broadcasting (BIB), which oversees Radio Free Europe and Radio Liberty. In both 1996 and 2000, Mr. Forbes campaigned vigorously for the Republican nomination for the Presidency. Key to his platform were a flat tax, medical savings accounts, a new Social Security system for working Americans, parental choice of schools for their children, term limits and a strong national defense. He was also actively involved in the 2008 Rudy Giuliani campaign for the presidential nomination and then in the McCain campaign for president. Forbes serves on the boards of The Ronald Reagan Presidential Foundation, the Heritage Foundation and The Foundation for the Defense of Democracies. He is on the Board of Overseers of the Memorial Sloan-Kettering Cancer Center and on the Board of Visitors for the School of Public Policy at Pepperdine University. Steve Forbes and his wife Sabina live in New Jersey and have five daughters.

tonight ’s speaker

Steve Forbes

Building to remarkably high standards.

Hourigan Construction is proud to support tonight’s speaker for inspiring us with ideas and perspectives that will help build a better community.

Tonight’s moderator, Kim Scheeler, assumed the post of president and CEO of the Greater Richmond Chamber in August 2008. Prior to joining the Greater Richmond Chamber, he was president and CEO of the Greater Tampa Chamber of Commerce for seven years. Scheeler also has served as president and chief professional officer for the United Way of Hillsborough County, Florida and held positions with United Way in Indiana,Texas and Maryland. Currently, Scheeler serves on the US Chamber of Commerce Committee of 100, US Chamber of Commerce Emerging Technologies Committee, and the Board of Directors of The American Chamber of Commerce. He also is on the Boards of Directors for CultureWorks, Richmond Metropolitan Convention & Visitors

Bureau and Greater Richmond Partnership. He is a member of University of Richmond’s School of Business Executive Advisory Council, Richmond Symphony Council, Executive Committee of STIR (Sustainable Transportation Initiative of Richmond) and Bridging Richmond; and, a member of the Smar t Beg innings Leadership Council. He holds a bachelor’s degree in business administration from Indiana University and an MBA from the University of South Florida. Scheeler has been married to his wife, Donna, since 1980.

The Butterbean Jazz Quartet In 1991, The Butterbean Jazz Quartet was formed by Zip Irvin, John Winn and Jim Dudley. They began a weekly Sunday evening gig at Bottom’s Up Pizza, which has persevered throughout the years and has become a mainstay in Richmond’s historic Shockoe Bottom. As the years passed, members of the quartet have changed. The current lineup is Lee Covington (Piano), Terri Simpson (Vocals), Rusty Farmer (Acoustic Bass) and Keith Willingham (Drums). The Butterbean Jazz Quartet specializes in traditional jazz vocal standards as well as more contemporary pop hits of the last 20 years. All

members have contributed musical arrangements that have helped develop a unique and intimate sound. The members all met during their undergraduate studies at VCU, and since then, they’ve gone on to perform extensively throughout Virginia, including a recent performance for the Richmond Jazz Society’s Guest Educator’s Series. In 2008, Terri Simpson received Richmond Magazine’s prestigious Theresa Pollack Award for excellence in the arts. Last spring, the quartet released their debut album through Courthouse Records, which can be found at Tonight’s musical performance is made possible by the generous support of Moore Cadillac Company.

t o n i g h t ’s m o d e r at o r a n d m u s i c i a n s

Kim Scheeler

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By Steve Forbes and Elizabeth Ames

A: Allowing consumers, not corporations or government, to control health-care dollars and make their own buying decisions. The best way to fix health care is to allow the return of a healthier market, where consumers make the buying choices for health care and insurance. Doctors and hospitals will once again become accountable to the individual patient. Do away with the regulations that are today currently driving up the cost of coverage. Make it easier for individuals to buy the plans and care that they want. Enabling people to buy their own insurance and care would push insurers and caregivers to become more efficient and come up with new, less expensive ways of providing health care. We see this phenomenon in every other part of a free economy, including a market sector more basic than healthâ&#x20AC;&#x201D;food. Food is more critical to life even than health care. Yet in real terms it is costing less and less. With the patient in the driverâ&#x20AC;&#x2122;s seat, youâ&#x20AC;&#x2122;d get better care and better service. Your insurer, doctors, and hospitals would treat you like a valued customer. New forms of health-care delivery would spring up as companies sought to serve individual buyers. More people would be able to afford medical insurance. Fewer would need a government alternative. But even if we still had Medicare and Medicaid, those programs would be easier to finance in a consumer-driven market because health-care costs would be lower.

The power of the individual consumer to bring down health-care prices is illustrated by the relatively low cost of medical services that people buy directly and are not covered by insurance. Two prime examples: plastic surgery and laser vision surgery. Neither is normally covered by traditional health insurance unless the surgery is needed because of accident or disease. Plastic surgery has not experienced the kind of price inflation that has afflicted the rest of the health-care industry even though, in the last fifteen years, technological advances have proliferated and demand has rocketed sixfold. Conventional laser eye surgery that reshapes the cornea so a patient no longer needs to wear glasses costs a third less in real terms than it did a decade ago. How do we get there from here? The following reforms would begin to untangle the system: Allow people to buy health-insurance policies across state lines. This would enable people to buy plans in states regulated by fewer costly mandates. You should be able to buy a policy offered anywhere, from Arizona to Vermont. Allowing sales of health insurance across state lines would enlarge risk pools, making sicker people easier to cover. And it would increase competition among insurers, bringing down costs. A couple of years ago, the Health

book e xcerpt

Q: What is the Real World Market Solution to Health Care?

book e xcerpt (continued)

Care Choice Act, introduced by Arizona congressman John Shadegg and South Carolina senator Jim DeMint, would have allowed outof-state insurance sales, while preserving the state’s primary responsibility for regulating health insurance. The bill never made it out of committee. Had it passed, it would have enabled more people to have access to lowerpriced insurance. Competition would have blossomed. Remove restrictions on health savings accounts. HSAs allow employers to offer health insurance with high deductibles. Companies— and workers, as well—put pretax money into health savings accounts. The account covers the lion’s share of care—mainly routine expenses—that you would normally pay for before your insurance kicks in. That care is paid through the HSA. The money belongs to you. Like a savings or checking account, what you don’t spend remains yours for future use. The HSA earns tax-free interest; funds can be invested, much like an IRA. This is the antithesis of flexible spending accounts, in which the worker loses whatever money in the account hasn’t been spent by year’s end. HSAs allow people to use insurance for what it was supposed to be for—catastrophic expenses. Thus, they help lower the cost of premiums. Meanwhile, they let the patient directly buy routine medical care—creating a consumer-driven market. For years, Forbes has provided employees what are, in effect, health savings accounts. The insurance itself is a bargain (relatively) because the policy deductible is high. What makes the plan so attractive, though, is that

Forbes gives everyone who works at the company $2,500 each year, which covers most of the deductible. Money that isn’t used is rolled over. If medical bills exceed both that $2,500 and the employee portion of the deductible, traditional health insurance kicks in. When companies initially put such a plan in place, they often see a decline in premiums. Over time, Forbes’s premiums have increased less than those of its peers. Insurers are permitted to offer HSAs as a result of the Medicare Prescription Drug Improvement and Modernization Act, signed into law in 2003. So far, only about eight million people nationwide have signed up for them. One reason is because they’re new. But also, people and insurers don’t fully understand them. For people accustomed to prepaid coverage, shopping for health care can take getting used to. Another problem is that the government restricts what deductibles are and how much money you can put in your account. If such restrictions were loosened, more people would sign up for HSAs. They would become a greater factor in the marketplace. The health-care system would have to respond to these new consumer-oriented pressures. A remarkable phenomenon would unfold: Growing amounts of money would accumulate in these accounts. The accounts would grow to become a significant asset for many people, thanks to the miracle of compounding interest. If health savings accounts became a major factor in the marketplace for insurance, pricing of medical services would become saner and more affordable. We would finally see the return of genuine insurance—coverage for major risks, instead of the dollar-for-dollar kind of coverage we have now.

Medicaid and Medicare participants would get their own HSAs, much like people covered by private insurance; government would provide a certain amount of money to cover basic expenses, along with a catastrophic policy. Medicaid participants would get food stamp–like vouchers or health debit cards. Medicaid and Medicare recipients would thus be encouraged to shop for health care like everyone else. To get people accustomed to the concept, the program could be phased in; it would be optional. Health savings accounts would begin to bring the runaway costs of both Medicare and Medicaid under control. Participants would have a positive incentive to hold the line on spending—the prospect of building up their HSAs. HSAs would make government insurance consumer-centric instead of government-centric. It would create a consumer-driven market for health care; the need to please consumers would propel healthcare providers to improve productivity and develop cheaper and better ways of providing health care. Make it easier for small employers to pool together to buy health insurance for their employees. This would enable them to spread the risk and pay lower premiums. Allowing small business pools would help to make health insurance affordable for the small employers that currently cannot afford to offer it to employees—and it would give formerly uninsured people access to coverage.

Allow individuals as well as employers to buy health insurance with pretax dollars. Why shouldn’t you be able to pay for health insurance in pretax dollars? Here’s how it would work: Americans who wanted to buy their own insurance would be able to notify the government of their decision. They would then receive a refundable tax credit—which means either a tax credit or dollars—of, say, $2,500 for individuals, $5,000 or more for families. Equal tax treatment would encourage Americans who preferred to buy their own plans to do so without adverse tax repercussions. The market for individual plans would grow. Insurers would be under additional pressure to be accountable to individual patients. They would deliver more reliable coverage. You’d see a market developing for individual policies, instead of one-size-fits-all corporate policies. By encouraging free choice by individuals, equal tax treatment would allow individuals and insurers to free themselves from the burden of expensive mandates. There’d be more competition in the market for insurance. You’d see downward pressure on the price of coverage. Real world lesson: In all markets, encouraging companies to compete for the business of individual consumers inevitably results in pricing and products designed to meet their needs.

Reprinted with permission from the book “How Capitalism Will Save Us” by Steve Forbes and Elizabeth Ames. Copyright © 2009 by Steve Forbes and Elizabeth Ames. Published by Crown Business, a division of Random House, Inc.

book e xcerpt (continued)

Institute Medicare and Medicaid health savings accounts.

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In partnership with The Powell Center and with the support of The Ralph Krueger Memorial Fund, tonightâ&#x20AC;&#x2122;s Student Satellite Viewing Room is filled with area students who are interested in the current and future state of the U.S. and global economies. The Powell Center, headquartered in Richmond, provides professional development training, programs and resources in economics and personal finance to K-12 teachers locally, regionally and nationally. The mission of the Powell Center for Economic Literacy is to prepare K-12 teachers and to develop economically-literate students who will become active, informed leaders in the 21st century global economy. The offerings of the Powell Center, many of which are available free of charge via its website,, can be applied in any school environment. The Powell Center for Economic Literacy was established in 1979 in memory of E. Angus Powell, a Richmond businessman and former chairman of the Board of Directors of the Federal Reserve Bank of Richmond. As chairman of the Board of Trustees at Collegiate School in Richmond, Mr. Powell knew that economic literacy would drive effective leadership in future generations. The Powell Center has served thousands of teachers and hundreds of thousands of students over the past thirty years. Kidsize Economics and Midsize Economics, begun in

1997, are available to elementary and middle school teachers and highlight resources which enable the integration of economics into the classroom. National conferences draw advanced placement economics teachers from around the world to Richmond. Many of these programs are co-sponsored by the Federal Reserve Bank of Richmond. Infusionomics is a whole school economic literacy integration program providing a pedagogical approach to integrating economics into all subject areas at all grade levels. The Cochrane Summer Economics Institute, a work/study internship program, has paired students with local businesses in Greater Richmond. Nearly 1000 students from over 20 area high schools have participated since 1977. The Institute is named for J. Harwood Cochrane, founder of Overnite Transportation. Global Economics and International Trade, college-level course has been available since 1999 to qualified high school students through the University of Richmondâ&#x20AC;&#x2122;s School of Continuing Studies. The Powell Center is proud to expand its teacher and student programming by partnering with The Richmond Forum tonight.

powell center for economic literacy

The Powell Center For Economic Literacy

Leadership* A business leader of today supporting the ones of tomorrow. PricewaterhouseCoopers is a proud supporter of The Richmond Forum. Russell D. Moore William T. Bishop Robert A. Vallejo PricewaterhouseCoopers LLP 111 Virginia Street, Suite 300 Richmond, VA 23219 (804) 697-1900 *connectedthinking © 2009 PricewaterhouseCoopers LLP. All rights reserved. “PricewaterhouseCoopers” refers to PricewaterhouseCoopers LLP or, as the context requires, the PricewaterhouseCoopers global network or other member firms of the network, each of which is a separate and independent legal entity. *connectedthinking is a trademark of PricewaterhouseCoopers LLP (US). DC 10-0045. Rr.


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TO GREAT LEADERS, IT’S ALWAYS HALF FULL. At Dominion, we’re committed to investing in the leadership skills of people who choose to see the world for all that it can be.

Leadership requires the vision to see

make our communities stronger today

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Executive Committee

Judith W. Pahren Chair Capital One Bruce Kelley Vice Chair Program Committee Chair The Martin Agency Jacques J. Moore, Jr., Immediate Past Chair Moore Cadillac Company W. Jefferson O’Flaherty Treasurer Xenith Bank Henry S. Fine* Treasurer Northwestern Mutual Financial Network *Deceased, August 25, 2009

H. Michael Ligon Secretary Universal Leaf Tobacco Co. Douglas M. Nabhan Vice Chair, Legal Affairs Williams Mullen

Gail W. Johnson, RN, MS Governance Committee Chair Rainbow Station Douglas A. Nunn Investment Committee Chair The Trust Company of Virginia Gregory Hillman Member at Large IBM Corporation Directors

Samuel D. Barham III Richmond Public Schools, retired Tim Barnett Barnett’s Hallmark Shops Michael G. Bland B&B Printing James A. Buzzard MWV Clifford J. Culley U.S. Trust, Bank of America Private Wealth Management

Kenneth M. Dye Comcast Metro Richmond

Timothy D. Smith LCOR, Incorporated

Richard J. Farrell Cushing Manufacturing Company

Linda M. Warren Altria Group, Inc.

Thomas E. duB. (“Ted”) Fauls Troutman Sanders LLP

Richard T. Wilson III RBC Dain Rauscher, retired

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Carolyn B. Bush County of Henrico Felicia Cosby City of Richmond Kathy Graziano Richmond City Council Carolyn P. Henly County of Chesterfield Scot L. Morris RBC Wealth Management John Sherman, Jr.

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Matthew Costello Voiceover Talent

David Crank Set Designer

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Robert Clayton Danny Houser Jonathan D. Sachs Sound Engineers

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Leo Cecil Master Technician Chuck Jones John McGee Chris Muir Nathan Murray Ken Swann Visual Aids Electronics

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Bill Chapman Executive Director Deborah S. Mangolas Office and Ticket Sales Manager Dee A. Raubenstine Director of Development and Public Affairs Heidi Powell Thompson Community Outreach and Marketing Manager (804) 330-3993

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Lead Patron Altria Group, Inc. Davenport & Company LLC Dominion Resources Dominion Digital Genworth Financial, Inc. Host Patron B&B Printing Comcast Metro Richmond Owens & Minor Troutman Sanders LLP Producer Patron Capital One circle S studio Covington International Travel Hourigan Construction IBM Corporation Longwood University PricewaterhouseCoopers, LLP Radford University The Trust Company of Virginia Universal Leaf Tobacco Co., Inc. VCU Medical Center Wachovia, a Wells Fargo Company Educational Patron Dr. & Mrs. W. Baxter Perkinson, Jr. Trinity Episcopal School Media Patron Community Idea Stations WCVE-WHTJ-WCVW-88.9FM Music Patron Moore Cadillac Company Transportation Patron WINN Transportation Municipalities City of Richmond County of Chesterfield County of Henrico Sponsor Alfa Laval Inc. BB&T Bon Secours Richmond Health System Buckingham Greenery, Inc. CapTech Ventures, Inc. City & Guilds Craigie & Craigie Hirschler Fleischer Hospital Hospitality House Liberty Property Trust McKinney and Company

Media General, Inc. Morgan Stanley Smith Barney Bart Nasta Judy & Dave Pahren PartnerMD Rainbow Station RBC Wealth Management Right Management SunTrust Bank Towers Watson U.S. Trust, Bank of America Private Wealth Management Verizon Communications Williams Mullen Dianne & Ken Wright Foundation Contributor Actuarial Benefits & Design Amanda & Farhad Aghdami Anonymous Biegler & Associates, PC Chubb Insurance Cushing Manufacturing Company DSC Logistics Endeavor Capital, LLC H & H Grandis Properties Hunton & Williams, LLP In Your Ear Invincia Insurance Solutions Markel Corporation Mercer, Inc. MWV Osage Bio Energy Party Plus Randolph-Macon College Swedish Match Friend Ralph & Judy Anderson Mr. & Mrs. Roger Boevé The Brink’s Company Mrs. Wilson M. Brown, Jr. fuel creative, inc. Mary Beth Hamlin & James Shannon Torry & Jil Hoover Trisha Krause, DMD, MS and Sanjay Bhagchandani, DMD Endodontics Mr. & Mrs. Robert Mann The Martin Agency Lyn McDermid Mutual Assurance Society of Virginia Perspectives, Inc. Dr. Dianne Reynolds-Cane Sigma National, Inc.

Timothy Smith & Mary Ellen Pauli Claiborne & Ann Terry Craig & Annhorner Truitt James & Vanessa Wigand

Supporter Mr. José Alfaro Mr. & Mrs. Tommy Baer Mr. William Black Kenneth C. Blaisdell & Sherryn Stauffer Mr. & Mrs. Joseph H. Brower Linda & Dale Cannady Mr. Jeff Chapman Kevin & Sheila Clasbey Mr. Howard Cobb Mr. & Mrs. Robert Cody Dr. Harold M. Cruse, DDS Mrs. Creed S. Davis Richard & Mary Beth Deutsch Jack & Nita Enoch Mr. Joseph Farrell Mr. William R. Fields Mr. & Mrs. Robert B. Giles Mr. A. William Hamill The Honorable & Mrs. Todd P. Haymore Pam & Joe Hazel Mr. Jay Holloway Mr. & Mrs. Gary C. Hudson Ms. Bonnie Hunt Ms. Louise Jackson Dr. Bernice Latham Mr. & Mrs. Richard B. Lewis Porter Realty Company Mr. Myron H. Reinhart Riggers, Inc. Michael & Linda Rigsby Mr. Eric Samuelson Mr. Rick Schofield Leila & Kirk Spitzer Leslie Stack & Frank Rizzo Mr. Geoff Stiff Dr. & Mrs. Ken Stoner Gary & Pat Sullivan VABION LLC VAMAC, Inc. Dr. & Mrs. Douglas A. Wayne Mr. Eric White Dick & Marty Wilson Season Lineup Contributor Randolph-Macon College The Ralph F. Krueger Jr. Memorial Fund

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Serving a community means being a part of it.

We do them in communities. Schools. Small businesses. And a lot of other areas. You see, at Capital One, we believe that the more our people volunteer their time, expertise and financial resources, the more everyone benefits. After all, while a lot of important work goes on inside our offices, just as much goes on outside them. Capital One is proud to support The Richmond Forum.


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Trinity Episcopal School advocates service to one’s community as an important aspect of individual character development and as an essential element in the creation of a strong community. These Trinity students, selected from the School’s Honor Roll, serve as ushers for The Richmond Forum this season. Through their service, the students facilitate an exchange of ideas that broadens our understanding of the trends and issues shaping our lives and our community. Molly Banta Caroline G. Barnes George Blackwell Bridgforth D. Patrick Brown Lauren O. Camden Christopher W. E. Cantone Meagan J. Carter Timothy M. Chester Ann Eckmann Matt Elgin V. Bailey Enochs Michael S. Gibbons

Laura A. Godwin Elisabeth S. S. Greenwood Benjamin J. Gross Olivia D. Hairfield James M. Harkins Hayden E. Hodges J. Anderson Johnson Iqra Kapadia Elizabeth B. Kinton Coleman T. Larrabee Gabriela M. Larus Amy Linderman

Mary Virginia Long Nicholas J. Markunas Ann S. Mauck Taylor S. McClain Cassie A. Pegram Deanna C. Pelkey Eva Ravenal Thomas Lee Rice Marysia Kolbe Rieder David A. Robertson M. Alexandra Schreck Guy S. Shelby

Tate B. Shelby Sarah L. Spencer Jordan A. Stokes Madeline Y. Stokes Alexandra J. Valentine George Lee Wilkinson Jeffrey C. Willis Sarah McDermott, Advisor Robert Patterson, Advisor Lee Sprague, Advisor

THE RICHMOND FORUM WELCOMES THE STUDENTS AND FACULTY OF TRINITY EPISCOPAL SCHOOL IN A SPECIAL PROGRAM DESIGNED TO CONNECT THE CLASSROOM, THE COMMUNITY AND CURRENT EVENTS. IN ACADEMICS We discover what motivates students and use that knowledge to challenge them IN THE INTERNATIONAL BACCALAUREATE PROGRAM Academics with a world view provide a competitive curriculum in a dynamic environment IN THE COMMUNITY We celebrate the differences that make us individuals and the common ground that makes us a community WITH THE FACULTY Building relationships based on mutual respect helps students realize their full potential DISCOVER YOUR PATH AT TRINITY EPISCOPAL SCHOOL 0ITTAWAY$RIVE 2ICHMOND 6!s

We are grateful to Dr. & Mrs. W. Baxter Perkinson, Jr. for their financial support for this educational program.

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Look around, start counting. In less than a month, Hospital Hospitality House provides lodging and non-medical services for more guests than are attending The Richmond Forum this evening. In fact, HHH provides a home away from home for about 160 patients and family members each night, 4,800 each month, that are visiting Richmond for medical care at area hospitals. They count on HHH. Can we count on you to help?

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Discover one

of the nation’s best hospitals right here in Richmond. U.S. News recognized us for excellence in four categories of care, marking a true Red Letter Day not only for VCU Medical Center, but for all of Virginia. It’s another affirmation that we’re making a difference in the lives and health of everyone we serve, every day.

Dr. Todd Gehr, Chair Nephrology

Dr. David Cifu, Chair Physical Medicine and Rehabilitation

Dr. Robert Adelaar, Chair Orthopaedic Surgery

Dr. Vigneshwar Kasirajan, Chair Cardiothoracic Surgery

Dr. George Vetrovec, Chair Cardiology


pa st speakers

Past Speakers 1987 January February March April

Ted Koppel “Iran: Yesterday and Today” Hodding Carter, Paul Duke and Larry Speakes Diane Sawyer with General Brent Scowcroft Charles Kuralt

1994 November January February March April

“America in the Year 2000” Lamar Alexander, Marvin Cetron, Senator Warren Rudman and Chris Wallace Louis Rukeyser with Frank Cappiello and Michael Holland President George H. W. Bush Dr. Elisabeth Kubler-Ross Bob Newhart

1988 January February March April

Oprah Winfrey George Will “The Cold War – Will it Thaw?” Marvin Kalb, Jeane Kirkpatrick and Vladimir Pozner Art Buchwald

1995 November January February March April

General Colin Powell Walter Cronkite with Judy Woodruff Dave Barry Tom Clancy Jack Kemp and Senator George Mitchell

1989 January February March April

Sam Donaldson John Chancellor and Henry Kissinger “Should Drugs be Legalized?” William Buckley and Charles Rangel Dr. Carl Sagan

1996 November January February March April

Ambassador Carla Hills and Prime Minister Brian Mulroney “Space and Flight: The First & Last Men on the Moon” Neil Armstrong, Capt. Eugene Cernan, David Hartman and Dick Rutan Calvin Trillin Charles Kuralt “The Presidency, The Press and The People” Ed Bradley, David Gergen, Pierre Salinger, Sheila Tate and Bob Woodward

1990 January February March April

Paul Duke, Howard Fineman and Charles McDowell “Perspectives – From Right to Left” Frank Carlucci, Bettina Gregory, George McGovern, William Proxmire and William Rusher Mike Wallace Alistair Cooke

1997 November January February March April

Dick Cavett and Carl Reiner Ray Brady with Paul A. Volcker “To Preserve and Protect: The Story of the American Presidency” Doris Kearns Goodwin and David McCullough Sir David Frost interviews Andrew Lloyd Webber “The Legal System in America” Marcia Clark, Philip K. Howard, Prof. Arthur Miller, Dr. Rodney Smolla and The Hon. Kym Worthy

1991 October January February March April

Chancellor Helmut Schmidt “Crisis in the Persian Gulf” Admiral William Crowe, General Alexander Haig, Robert McFarlane and Edwin Newman H. Ross Perot Art Buchwald and Andy Rooney “Space and Beyond” James Burke, Dr. Frank Drake and James Lovell Barbara Walters Margaret Thatcher Larry King with General Norman Schwarzkopf “DNA: From Catching Criminals to Constructing Dinosaurs” Patricia Cornwell, Dr. Victor McKusick and Dr. Marc Micozzi Mark Russell

1998 November January February March April

Bill Moyers Wynton Marsalis Prime Minister Shimon Peres and Dan Raviv Mary Tyler Moore Peter Lynch

1992 October January February March April

1999 November January February March April

Rt. Hon. John Major Robert S. Bennett and Dr. William J. Bennett with Tim Russert Harry S. Dent, Jr. and Lou Dobbs Lily Tomlin Dr. Robert Ballard and Jean-Michel Cousteau

1993 October January February March April

Terry Anderson “Japanese/American Trade Debate” with Hiroki Kato and T. Boone Pickens Dr. Joyce Brothers Bill Cosby Soviet President Mikhail Gorbachev with Cokie Roberts

2000 November January February March April

Julie Andrews with Catherine Crier “The Century” Todd Brewster and Peter Jennings “Technology and the New Marketplace” Ray Brady, Michael Connors and John Krubski Archbishop Desmond Tutu James Carville and Newt Gingrich with Tim Russert

Senator John Glenn Tom Brokaw Prime Minister Benjamin Netanyahu with Daniel Schorr Frank McCourt Dr. William Kelso

2002 November January February March April

Hal Holbrook in “Mark Twain Tonight!” Rabbi Marc Gellman and Msgr. Thomas Hartman Dick Clark Doris Kearns Goodwin and David McCullough The Hon. Madeleine K. Albright and The Hon. James A. Baker III with Gwen Ifill

2003 November January February March April

Ken Burns The Hon. Rudolph W. Giuliani Prime Minister Benazir Bhutto and Her Majesty Queen Noor with Gwen Ifill FBI Director Louis Freeh Senator Fred Thompson

2004 November January February March April

Cal Ripken, Jr. Robert Shiller and Jeremy Siegel with Geoff Colvin Candice Bergen Rt. Hon. Mary Robinson Thomas L. Friedman

2005 November January February March April

General Tommy Franks Michael Beschloss and Walter Isaacson Tim Russert Fareed Zakaria Frank Gehry

2006 ovember N January February March April

Robert Redford Sherry Lansing General Colin Powell Tom Wolfe Rick Wagoner with Geoff Colvin

2007 November January February March April

Burt Rutan Malcolm Gladwell and Alvin Toffler B.B. King Jim Lehrer Dr. Jared Diamond

2008 November January February March April

President Vicente Fox Carly Fiorina Michael Douglas with Jeffrey Brown Dr. Henry Louis Gates, Jr. David Brooks

2009 November January February March April

Rt. Hon. Tony Blair Reza Aslan and Jon Meacham Smokey Robinson with Daphne Maxwell Reid Terry Bradshaw and Howie Long Marion Nestle and Michael Pollan

2010 November Dr. Neil deGrasse Tyson January Greg Mortenson

Your Support of the Ralph Krueger Memorial Fund Makes Life-Changing Student Opportunities Possible.

Established in memory of the founder of The Richmond Forum, the Ralph Krueger Memorial Fund makes it possible for local students to attend

sold-out Forum programs. This year’s satellite student viewing room has been a tremendous success and nearly 600 students from area public and private schools will have an opportunity to be inspired in a life-changing way. When you renew your subscription, please consider including a tax-deductible donation to the Krueger Fund to enable us to continue and expand our student outreach programs. Visit to learn more or to donate online. Thank you for your support.

pa st speakers

2001 November January February March April

Coming to The Richmond Forum April 10, 2010 Condoleezza Rice Condoleezza Rice will provide a sweeping look at global affairs during her tenure as secretary of state and national security advisor in the George W. Bush administration. By sharing compelling stories of her experiences, she will illuminate the interrelationship of global events and leaders during a time of unprecedented and tumultuous world affairs and controversial U.S. policies. Condoleezza Rice will be the fifth former secretary of state to address The Richmond Forum.

May 8, 2010 David Plouffe

Connecting Richmond to the World.

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Steve Forbes at The Richmond Forum  

Program book from the March 6, 2010 appearance of Steve Forbes at The Richmond Forum

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