J. Alfred Broaddus

As usual I’ll begin with a recap of recent developments in the economy to put the outlook in perspective. Then I’ll comment on the outlook — as others see it and I see it — and finally I’ll conclude with a few remarks about monetary policy.

Dean Sesnowitz; distinguished members of the faculty; proud parents and other family members; guests; and, of course most importantly, members of the Virginia Commonwealth University School of Business Class of 2004: thank you for your welcome and the privilege of sharing a few reflections with you this afternoon on this very special occasion.

It is a pleasure to be with you this morning, and I am honored by your invitation to address this Convention once again. When Jack Benny was honored in some way back during his career, he said he didn't deserve the honor.

President Bortz; distinguished members of the faculty and board of trustees; proud, satisfied — and probably relieved — parents; guests; and — most importantly, of course — members of the Hampden-Sydney Class of 2004: thank you for your welcome and for the privilege of joining you on this memorable day.

It is a pleasure to be with you this morning. The theme of this session is “How Banks Compete.” I want to develop a variation on this theme and consider how the intensity of competition in banking has increased over the years, and some of the challenges this change presents.

It's a pleasure to be back with you once again. I don't know exactly how many years you've honored me by inviting me back, but it's an appreciable number, and I always enjoy being with you. I guess I should say most of the time.