Public Meeting Regarding First Chicago and Banc One
Held on Thursday, August 13, 1998, at the Federal Reserve Bank of Chicago

Transcript of the Public Meeting held on August 13, 1998, on the application of Banc One Corporation to merge with First Chicago Corporation. Transcripts and exhibits are presented by speaker panel; each day's transcript and exhibits are also presented in their entirety after the last panel of each day.

Thursday, August 13, 1998

Opening Remarks

Dolores S. Smith, Presiding Officer, Director, Division of Consumer and Community Affairs, Board of Governors of the Federal Reserve System

Panel One

Verne G. Istock, Chairman and Chief Executive Officer, First Chicago NBD Corporation

John B. McCoy, , Chairman and Chief Executive Officer, Banc One Corporation

Exhibits (290 KB PDF)

Panel Two

The Honorable Julia Carson, 10th Congressional District, Indiana

The Honorable Danny Davis, 7th Congressional District, Illinois

The Honorable Stephen Goldsmith, Mayor, City of Indianapolis, Indiana

The Honorable Scott King, Mayor, City of Gary, Indiana

Exhibits (189 KB PDF)

Panel Three

The Honorable Hiawatha Davis, Jr., Councilmember, City of Denver, Colorado

Leo J. Ries, designee for the Honorable John Norquist, Mayor, City of Milwaukee, Wisconsin

Lawrence Flood, designee for the Honorable Jim Ryan, Illinois Attorney General, Springfield, Illinois

Ralph Smithers, designee for the Honorable Gregory Lashtuka, Mayor of Columbus, Ohio

Exhibits (2.6 MB PDF)

Panel Four

Cora Coleman, SEIU Local 880 in Chicago and Local 100 in Louisiana and Texas and Illinois Association of Community Organizations for Reform Now ("ACORN"), Chicago, Illinois

Ted Thomas, President, Illinois ACORN, Chicago, Illinois

Nelson Soza, Organizer, Illinois ACORN, Chicago Illinois

Shirley Vargas, Texas ACORN, Dallas Texas

Michael Shea, Executive Director, ACORN Housing Corporation, Chicago, Illinois

Morris Williams, Executive Director, Coalition of Neighborhoods, Cincinnati, Ohio

Exhibits (446 KB PDF)

Panel Five

Malcolm Bush, President, Woodstock Institute, Chicago, Illinois

Ted Wysocki, Executive Director, Chicago Association of Neighborhood Development Organizations ("CANDO"), Chicago, Illinois

Kevin F. Jackson, Executive Director, Chicago Rehab Network, Chicago, Illinois

Dory Rand, Attorney, Poverty Law Project, National Clearinghouse for Legal Services, Inc., Chicago, Illinois

Kate Monter Durban, Assistant Director, Cleveland Housing Network, Inc., Cleveland, Ohio

Mark S. McDaniel, President, Michigan Capital Fund For Housing, Lansing, Michigan

Exhibits (1.2 MB PDF)

Panel Six

Panel members did not appear as scheduled -- some members shifted to later panels.

Panel Seven

Frank Hagaman, President, Partners in Housing Development Corporation, Indianapolis, Indiana

Jerome Odem, Organization of the Northeast ("ONE"), Chicago, Illinois

Cora Morris, Owner, Greek Grandeur, Champaign, Illinois

Liz Ryan, National Training and Information Center ("NTIC"), Chicago, Illinois

Raymond Schmidt, Executive Director, Select Milwaukee, Inc., Milwaukee, Wisconsin

Exhibits (469 KB PDF)

Panel Eight

Rev. John Buzza, Hope Presbyterian Church, Springfield, Illinois

Rev. Jack Cramer-Heuerman, Countryside United Methodist Church, Urbana, Illinois

Mike Matejka, Second Ward Alderman, Bloomington, Illinois

Rev. Joel Erickson, Resurrection Lutheran Church, Bloomington, Illinois

Exhibits (113 KB PDF)

Panel Nine

Bessie Cannon, President of Local 880 in Illinois and SEIU Local 100 in Louisiana and Texas, and Illinois ACORN, Chicago, Illinois

Rev. Cary Long, Organization for a New Eastside, Indianapolis, Indiana

Bobbie Rice, Texas ACORN, Dallas, Texas

Rev. Wesley Sims, Texas ACORN, Dallas, Texas

Rev. James Taylor, Organization for a New Eastside, Indianapolis, Indiana

Exhibits (460 KB PDF)

Panel Ten

Rashmi Rangan, Executive Director, Delaware Community Reinvestment Action Council, Inc. ("DCRAC"), Wilmington, Delaware

Jerry Reynolds, Director of Information Services, delivering remarks of Rebecca Adamson, President, First Nations Development Institute, Fredricksburg, Virginia

Hubert van Tol, Co-chair, Legislative Committee, on behalf of John Taylor, President and Chief Executive Officer, National Community Reinvestment Coalition ("NCRC"), Washington, D.C.

Betty Wilkins, Colorado ACORN, Denver, Colorado

Exhibits (3.8 MB PDF)

Panel Eleven

Honorable Bernard Parker, Co-chair, Detroit Alliance for Fair Banking, Detroit, Michigan

Rev. Wendell Anthony, Co-chair, Detroit Alliance for Fair Banking, Detroit, Michigan

Hugo Cardona, President and Chief Executive Officer, SER-Jobs for Progress National, Inc., Dallas, Texas

Gladys Hunt, Community Collaboration for Economic Development, Champaign, Illinois

Charlie H. Smith, Jr., Executive Director, Wilmington Housing Authority, Wilmington, Delaware

Jim Reid, President and Founder, Southern Dallas Community Development Corporation, Dallas, Texas

Exhibits (3.8 MB PDF)

Panel Twelve

Charles H. Bromley, Director, Metropolitan Strategy Group, Cleveland Heights, Ohio

Matt McDermitt, Executive Director, Chicago Coalition for the Homeless, Chicago, Illinois

Rev. Casimir F. Gierut, Palos Hills, Illinois

Marv Kamp, Wisconsin Rural Development Center, Inc., Mount Horeb, Wisconsin

Hubert Van Tol, President, Bank Watchers, Sparta, Wisconsin

Exhibits (3.6 MB PDF)

Panel Thirteen

Rita Carrillo, Executive Director, Neighborhood Housing Services of Phoenix, Phoenix, Arizona

Marva Coleman, Executive Director, Five Points Business Association, Denver, Colorado

Steve Fairfield, Executive Director, Fifth Ward Community Redevelopment Corporation, Houston, Texas

Charles Garcia, President and Chief Executive Officer, GM Construction Company, Inc., Indianapolis, Indiana

Debbie Gnau, Chesapeake Group, Cincinnati, Ohio

Printice Gary, Carleton Residential Properties, Dallas, Texas

Exhibits (160 KB PDF)

Panel Fourteen

Paul Bellamy, Coalition for Reinvestment in Lorain County, Lorain, Ohio

Rebecca A. Jones, Wellington, Ohio, presenting remarks on behalf of the Honorable Joseph F. Koziura, Mayor of Lorain, Ohio

Rashmi Rangan, reading written statement of Matthew Lee, Executive Director, Inner City Press/Community on the Move & Inner City Public Interest Law Center ("ICP"), Bronx, New York

Adenike Sharpley, Board Member, Zion Community Development Corporation, Oberlin, Ohio

Dawn Tyler, Housing Policy Director, Coalition on Homelessness and Housing in Ohio, Columbus, Ohio

Marge Walker, South Lorain Merchants Association, Lorain, Ohio

Exhibits (3.5 MB PDF)

Panel Fifteen

Fritz Ruf, Executive Director, Wisconsin Housing and Economic Development Authority ("WHEDA"), Madison, Wisconsin

Mark Barbash, Columbus Countrywide Development Corporation, Columbus, Ohio

Moira M. Carlstedt, President, Indianapolis Neighborhood Housing Partnership, Indianapolis, Indiana

Jenice Jones-Kibby, Chair, Illinois State Microenterprise Initiative, Chicago, Illinois

Ken A. Kudek, Vice President and Assistant Director, Focus: HOPE, Detroit, Michigan

Hedy M. Ratner, Co-President, Women's Business Development Center, Chicago, Illinois

Exhibits (1.4 MB PDF)

Panel Sixteen

Walter Ellis, United Affirmative Action Development Corporation ("UAADC"), Perris, California

Nancy Hain, Secretary/Treasurer, Paul Stradtman Construction Company, Cleveland, Ohio

Robert Hawthorne, Indianapolis Coalition for Neighborhood Development, Indianapolis, Indiana

Bridgette Haste Wisconsin ACORN, Milwaukee, Wisconsin

Minnie Howard, Wisconsin ACORN, Milwaukee, Wisconsin

Panel Seventeen

Whitney Johns, Capital Across America, Nashville, Tennessee

Rosalyn Paycheaud, Executive Director, Neighborhood Development Foundation, New Orleans, Louisiana

John Pritscher, President, Community Investment Corporation, Chicago, Illinois

John D. Roberts, President, Mezzanine Capital Management, Inc., Noblesville, Indiana

Mike Traylor, Program Manager, Southern Indiana Rural Development Project, Indiana

Anthony Wilkinson, President and CEO National Association of Government Guaranteed Lenders, Inc. ("NAGGL"), Stillwater, Oklahoma

Exhibits (1.7 MB PDF)

Panel Eighteen

Ken Goldstein, Krislov & Associates, Ltd., Chicago, Illinois

William J. Harrington, President, Harrington Properties, Inc., Gary, Indiana

Bennie Simmons, Jr., President and Chief Executive Officer, Marshall Plan for Gary, Gary, Indiana

Exhibits (2.4 MB PDF)

Panel Nineteen

Tony Reyes, Comite De Bienestar, Inc., Phoenix, Arizona

Larry Gigerich, President, Indianapolis Economic Development Corporation, Indianapolis, Indiana

Cornelius Lewis, Gulf Coast BIDCO, Baton Rouge, Louisiana

Vicky Vaughn, (replacing Mark Sissman), Vice President, Enterprise Social Investment, Columbia, Maryland

Wendy K. Werkmeister, President, Wisconsin Women's Business Initiative Corporation, Milwaukee, Wisconsin

F. Leroy Pachero, Accion Chicago, Chicago, Illinois

Complete Thursday transcript | Complete Thursday exhibits (21 MB PDF)