John W. Snow
73rd United States Secretary of the Treasury
In office February 3, 2003 – June 28, 2006
Preceded by	Paul O'Neill
Succeeded by	Henry Paulson
Born	August 2, 1939 (1939-08-02) (age 68) Toledo, Ohio
Political party	Republican
Religion	Methodist

John William Snow, (born August 2, 1939, in Toledo, Ohio) served as the 73rd United States Secretary of the Treasury. The United States Secretary of the Treasury is the head of the United States Department of the Treasury, concerned with finance and monetary matters, and until Events 1112 - Ramon Berenguer III of Barcelona and Douce I of Provence marry uniting the fortunes of those two states Year 2003 ( MMIII) was a Common year starting on Wednesday of the Gregorian calendar. Events 1098 - Fighters of the First Crusade defeat Kerbogha of Mosul. Year 2006 ( MMVI) was a Common year starting on Sunday of the Gregorian calendar. See Paul O'Neill for other people with this name Paul Henry O'Neill (born December 4, 1935) served as the 72nd United Henry Merritt "Hank" Paulson Jr (born March 28 1946 is the United States Treasury Secretary and member of the International Monetary Fund Board of Governors Events 338 BC - A Macedonian army led by Philip II defeated the combined forces of Athens and Thebes in the Year 1939 ( MCMXXXIX) was a Common year starting on Sunday (link will display the full calendar of the Gregorian calendar. This article is about the city in Ohio, USA. For Toledo Spain, see that article Ohio ( is a Midwestern state of the United States. As part of the Great Lakes region, Ohio has long been a cultural and geographical crossroads Methodism is a movement within Protestant Christianity represented by a number of denominations and organizations Events 338 BC - A Macedonian army led by Philip II defeated the combined forces of Athens and Thebes in the Year 1939 ( MCMXXXIX) was a Common year starting on Sunday (link will display the full calendar of the Gregorian calendar. This article is about the city in Ohio, USA. For Toledo Spain, see that article The United States Secretary of the Treasury is the head of the United States Department of the Treasury, concerned with finance and monetary matters, and until He replaced Secretary Paul O'Neill on February 3, 2003 and was succeeded by Henry Paulson on July 3, 2006, in a move that had been anticipated for several weeks ^{[1] [2] [3] [4]}. See Paul O'Neill for other people with this name Paul Henry O'Neill (born December 4, 1935) served as the 72nd United Events 1112 - Ramon Berenguer III of Barcelona and Douce I of Provence marry uniting the fortunes of those two states Year 2003 ( MMIII) was a Common year starting on Wednesday of the Gregorian calendar. Henry Merritt "Hank" Paulson Jr (born March 28 1946 is the United States Treasury Secretary and member of the International Monetary Fund Board of Governors Events 324 - Battle of Adrianople Constantine I defeats Licinius, who flees to Byzantium. Year 2006 ( MMVI) was a Common year starting on Sunday of the Gregorian calendar. Snow submitted a letter of resignation on May 30, 2006, effective "after an orderly transition period for my successor. Events 1416 - The Council of Constance, called by the Emperor Sigismund a supporter of Antipope John XXIII burns Jerome of Prague following Year 2006 ( MMVI) was a Common year starting on Sunday of the Gregorian calendar. "^[5] To replace him, U.S. President George W. Bush nominated Henry M. Paulson, Jr.. The President of the United States is the Head of state and Head of government of the United States and is the highest political official in United States by George Walker Bush ( born July 6 1946 is the forty-third and current President of the United States. Henry Merritt "Hank" Paulson Jr (born March 28 1946 is the United States Treasury Secretary and member of the International Monetary Fund Board of Governors Snow announced on Thursday, June 29, 2006 that he had completed his last day on the job; Robert Kimmitt served as acting secretary until Paulson was sworn in. Events 512 - A Solar eclipse is recorded by a monastic chronicler in Ireland. Year 2006 ( MMVI) was a Common year starting on Sunday of the Gregorian calendar. Robert M Kimmitt (born December 19, 1947) is the current Deputy Secretary of the Department of the Treasury.

Background

Born in Toledo, Ohio, in 1939, Snow attended high school at Gilmour Academy in Gates Mills, Ohio. This article is about the city in Ohio, USA. For Toledo Spain, see that article Gilmour Academy is an independent, Roman Catholic, Coeducational, college-preparatory school in the Cleveland suburb of Gates Mills Gates Mills is a village in Cuyahoga County, Ohio, United States. He did his undergraduate studies at Kenyon College (where he was a member of the Delta Tau Delta fraternity) and the University of Toledo, from which he received a B.A. in 1962. Kenyon College is a private liberal arts college in Gambier Ohio, founded in 1824 by Bishop Philander Chase of the The Episcopal Church Delta Tau Delta ( ΔΤΔ, DTD or " Delts " is a US -based international college fraternity. The University of Toledo is a public University situated in Toledo Ohio. He received a Ph.D. in Economics from the University of Virginia in 1965. "PhD" redirects here for other uses see PhD (disambiguation. Economics is the social science that studies the production distribution, and consumption of goods and services. The University of Virginia (also called UVa, UVA, Mr Jefferson's University, or The University) is a highly selective public research From 1965 to 1967, he was an Assistant Professor of Economics at the University of Maryland. The University of Maryland College Park (often referred to as The University of Maryland UMD, UMCP or simply Maryland) is a public research He completed an LL.B. at the George Washington University Law School in 1967 and then worked at the Washington, DC law firm of Wheeler & Wheeler from 1967 to 1972. The Bachelor of Laws (abbreviated LLB, LLB or rarely LlB) is an undergraduate or bachelor degree in law offered in most Common law The George Washington University Law School, commonly referred to as GW Law, is the Law school of The George Washington University. Washington DC ( formally the District of Columbia and commonly referred to as Washington, the District, or simply D A law firm is a business entity formed by one or more Lawyers to engage in the practice of law

Snow lives in Richmond, Virginia with his wife Carolyn. This article is about the city of Richmond the capital of the Commonwealth of Virginia. The Commonwealth of Virginia ( is an American state He has three children and four grandchildren.

Snow's alma mater, Kenyon College, awarded him an honorary LL.D. in 1993. Doctor of Laws ( Latin: Legum Doctor, LLD) is a Doctorate -level Academic degree in Law. He has also received the U. S. Department of Transportation Secretary's Outstanding Achievement Award and has been named a Distinguished Fellow by the Yale School of Management. About the School The School conducts education and research in Leadership, Economics, Operations management,

Public service during the Nixon-Ford period

In 1972, Snow left Wheeler & Wheeler and took up a position as Assistant Professor of Law at the George Washington University Law School. During the 3 years he spent with the GWU Law School, Snow also held positions in the US government: in 1972-73, as Assistant General Counsel for the Department of Transportation; in 1973-74, as Deputy Assistant Secretary for Policy, Plans and International Affairs; and in 1974-75, as Assistant Secretary for Governmental Affairs in the Department of Transportation. A general counsel is the chief Lawyer of a legal department usually in a corporation or government department The United States Department of Transportation ( DOT) is a federal Cabinet department of the United States government concerned with Transportation

In 1975, Snow left GWU Law School and took up the full-time position of Deputy Undersecretary in the Department of Transportation. In 1976 he left this post when he was named as Administrator of the National Highway Traffic Safety Administration. The National Highway Traffic Safety Administration ( NHTSA, often pronounced "nit-suh" is an agency of the Executive Branch of the U

With the election of Jimmy Carter, Snow departed public life in 1977. James Earl "Jimmy" Carter Jr (born October 1 1924 was the thirty-ninth President of the United States, serving from 1977 to 1981 and the recipient of the 2002 During his transition period out of public life, in Spring 1977, he served as a Visiting Professor of Economics at the University of Virginia and as a Visiting Fellow at the American Enterprise Institute. The University of Virginia (also called UVa, UVA, Mr Jefferson's University, or The University) is a highly selective public research The American Enterprise Institute for Public Policy Research (AEI is a conservative Think tank, founded in 1943 In addition, he was named a Distinguished Fellow at the Yale School of Management from 1978 until 1980. About the School The School conducts education and research in Leadership, Economics, Operations management,

Career in the railway industry

Snow's years with the Department of Transportation proved useful to him, as in 1977, he became the Vice President in charge of Governmental Affairs for Chessie System, Inc., a holding company that owned three American railroads: the Chesapeake and Ohio Railway, a. The Chessie System was a Holding company that owned four American railroads the Chesapeake and Ohio Railway (C&O the Baltimore and Ohio Railroad (B&O A holding company is a company that owns part all or a majority of other companies' outstanding Stock. The Chesapeake and Ohio Railway (C&O was a Class I railroad formed in 1869 in Virginia from many smaller railroads begun in the 19th century k. a. the C&O (for which the Chessie System was named); the Western Maryland Railway; and the Baltimore and Ohio Railroad (the B&O of Monopoly fame). The Western Maryland Railway was an American Class I railroad which operated in Maryland, West Virginia, and Pennsylvania. The Baltimore and Ohio Railroad ( B&O) was one of the Oldest railroads in the United States and the first Common carrier railroad Monopoly is a Board game published by Parker Brothers, a subsidiary of Hasbro.

In 1980, Chessie System merged with another railroad holding company, Seaboard Coast Line Industries, to form CSX Corporation, and Snow became CSX's Senior Vice President-Corporate Services at their new headquarters in Richmond, Virginia. Seaboard Coast Line Industries, incorporated in 1969, was a Railroad holding company that owned the Seaboard Coast Line Railroad and the Louisville CSX Corporation ( was formed in 1980 by the merger of Chessie System and Seaboard Coast Line Industries and eventually merged the various railroads This article is about the city of Richmond the capital of the Commonwealth of Virginia. In 1984, he was promoted to Executive Vice President.

Snow's signature, as used on American currency

In 1985, CSX installed Snow as President and CEO of their B&O Railroad and he oversaw its merger with their C&O Railway in 1986. This created a new entity, CSX Transportation, headquartered in Jacksonville, Florida. Snow became the President and CEO of CSX Transportation.

In 1988, Snow left CSX Transportation (the railroad) to become President and Chief Operating Officer of CSX Corporation (the holding company). As of April 1989, he was President and Chief Executive Officer of CSX. From 1991, he also served as CSX's Chairman. He continued to hold all three posts until he was named Secretary of the Treasury in 2003. Part of CSX, CSX Lines was sold to The Carlyle Group, early in 2003. The Carlyle Group is a global Private equity investment firm based in Washington D After he left the company for the White House, CSX sold its international port operations to the UAE company, Dubai Transport.

Public service during time in the private sector

During Ronald Reagan's campaign for the presidency in 1980, Snow was a member of Governor Reagan's four-man advisory group on regulatory policy. Following his election victory, President-Elect Reagan named Snow as Vice Chairman of his Transportation Transition Team.

Snow would go on to serve on the White House Conference for a Drug Free America; the Services Policy Advisory Committee of the U. S. Trade Representative; as Co-Chair of the National Commission on Financial Institution Reform, Recovery and Enforcement; the National Commission on Intermodal Transportation; the National Commission on Economic Growth and Tax Reform; as a Trustee of the Virginia Museum of Fine Arts; and as a Member of the Richmond City School Board. The Virginia Museum of Fine arts, or ‘’’VMFA’’’ is an art museum in Richmond Virginia.

He was the co-chairman of the Conference Board's Blue-Ribbon Commission on Public Trust and Private Enterprise. The Conference Board Inc is a Non-profit global Business organization supported by business executives that holds conferences convenes executives and conducts He also served as co-chairman of the National Commission on Financial Institution Reform, Recovery and Enforcement in 1992 that made recommendations following the savings and loan crisis. The savings and loan crisis of the 1980s and 1990s (commonly referred to as the S&L crisis) was the failure of 747 Savings and loan associations (S&Ls in the

From 1994 through 1996, he was Chairman of the Business Roundtable, a business policy group of 250 chief executive officers of the nation's largest companies, and played a major role in supporting passage of the North American Free Trade Agreement. The Business Roundtable is a politically conservative group of Chief executive officers of major U

Further affiliations

Snow has served as a director for Bassett Furniture Industries, Inc. Bassett Furniture is a furniture manufacturer headquartered in Bassett Virginia, USA. ; Circuit City Stores, Inc.; NationsBank Corp.; Textron Inc.; USX Corporation; the U. Circuit City ( is an American dealer and retailer in brand-name consumer electronics personal computers and entertainment software NationsBank was one of the largest banking corporations in the United States, based in Charlotte, North Carolina. Founded in 1923 as the Special Yarns Company by Royal Little, Textron, today is a multi-industry company with a portfolio of familiar brands such as Bell Helicopter The United States Steel Corporation ( is an integrated Steel producer with major production operations in the United States, Canada, and Central Europe S. -Japan Business Council; Verizon Communications; and the Association of American Railroads. "Verizon" redirects here this article is about the corporation see also Verizon Wireless, Verizon Online DSL and Verizon FiOS. The Association of American Railroads is an industry trade group representing primarily the major freight railroads of

He has served on the Board of Trustees of the Johns Hopkins University and the University of Virginia Darden School Foundation. The Darden School of Business Administration, founded in 1954, is the graduate Business school associated with the University of Virginia in Charlottesville

He has been a member of the Business Roundtable; the Executive Committee of The Business Council; the Virginia Business Council; and the National Coal Council.

On October 19, 2006, John W. Snow was named chairman of Cerberus Capital Management. Cerberus Capital Management LP is one of the largest Private equity investment firms in the USA

On August 15, 2007, Snow was appointed the inaugural Newman Visiting Fellow at the Miller Center of Public Affairs at the University of Virginia. The Miller Center of Public Affairs is a non-partisan research institute affiliated with the University of Virginia. The University of Virginia (also called UVa, UVA, Mr Jefferson's University, or The University) is a highly selective public research

John W. Snow at the 2004 IMF/World Bank Annual Meeting. The International Monetary Fund ( IMF) is an International organization that oversees the Global financial system by following the Macroeconomic The World Bank Group (WBG is a family of five International organizations responsible for providing Finance and advice to countries for the purposes of economic

Secretary of the Treasury

Snow was nominated as Secretary of the Treasury by President George W. Bush on January 13, 2003 and unanimously confirmed by the US Senate. George Walker Bush ( born July 6 1946 is the forty-third and current President of the United States. Events 532 - Nika riots in Constantinople. 888 - Odo Count of Paris becomes King of the Franks Year 2003 ( MMIII) was a Common year starting on Wednesday of the Gregorian calendar. The United States Senate is the Upper house of the bicameral United States Congress, the Lower house being the House of Representatives

In May 2004, it was revealed that Snow's brokers had bought $10 million of debt issued by Fannie Mae and Freddie Mac without his knowledge in February 2003. When Snow found out, he divested the debt holdings. A Treasury ethics lawyer has found that the holdings did not represent a conflict of interest but had the potential to do so in the future. [2]

On May 26, 2006 Snow announced that he would resign effective July 3. He said the White House would make an official statement the following week. On May 30, it was formally announced that Snow would leave this position. On this same day, it was announced that President George W. Bush had nominated Henry Paulson, CEO of Goldman Sachs, to replace Snow. Henry Merritt "Hank" Paulson Jr (born March 28 1946 is the United States Treasury Secretary and member of the International Monetary Fund Board of Governors The Goldman Sachs Group Inc, or simply Goldman Sachs ( is a large global Bank holding company that engages in Investment banking securities [3]

References

External links

• White House Biography
• Treasury Department Biography
• Video Webcast Center of the Department of the Treasury. It contains media briefings given by John W. Snow, and other Treasury officials.