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Editor's Desk

Where Was the Board?

Talk about being in the hot seat. At no time in the history of mutual funds has serving on the board of directors proven such a challenge.

We devote this issue to overcoming some of those challenges - dwindling assets, layoffs, scandals, scoundrels and one of the biggest, baddest Bears in history - along with a look at how to attain the coveted title, Chairman of the Board (see interview, page 6).

It is no coincidence that we time this issue with the Directors Conference of the Investment Company Institute in Washington this week. The ICI might have locked the media out, but by no means does that mean the fourth estate is down and out.

--Lee Barney, Editor