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News Releases
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Iona Trustee Ronald DeFeo ’74, CEO of Terex Corporation Sponsors Innovative Conference on Nation’s Infrastructure Hosted by Iona College
NEW ROCHELLE, N.Y.--February, 2008-- Iona College was host to an innovative and prestigious group of business and political leaders at a national conference “Infrastructure: Pathway to Prosperity” sponsored by Ronald DeFeo, ’74 Iona alum, Iona trustee and CEO of Terex Corporation the third largest manufacturer of construction and mining equipment in the world. Br. James A. Liguori, Iona President, didn’t hesitate to partner with Terex Corp. when asked by Mr. DeFeo to host this significant discussion on America’s infrastructure crisis. As he introduced Mr. DeFeo, Br. Liguori described the Iona alum as the “heart and soul of the leadership of the conference.” Br. Liguori said, “We think of change only happening in small increments, but great change only happens with bold initiatives.” The day-long event brought insightful and thought-provoking commentary from some of today’s most influential political and business leaders. John Sweeney, president of the AFL-CIO, called for an alliance of labor, business, and government to implement a comprehensive, long-term economic stimulus plan for creating jobs by re-building the nation's crumbling infrastructure. Joining speakers and panelists that included: Susan Eisenhower; Rep. Jim Oberstar, Chairman of the House Committee on Transportation and Infrastructure; former New York Gov. George Pataki; former Michigan Gov. John Engler, President of the National Association of Manufacturers; former Congressmen Harold Ford Jr., and former Majority Leader of the House of Representatives Dick Gephardt, Sweeney singled out the Dodd-Hagel National Infrastructure Act, "now stuck in the House Banking Committee." He said the bill "may not be ideal and may require some changes," but it could be an effective model for getting public and private capital to finance major infrastructure projects that would be guaranteed by the government. The American Society of Civil engineers estimates that $1.6 trillion is needed over a five year period to bring the nation's failing infrastructure to "good condition" and commuters waste 5.7 billion gallons of gas each year stuck in traffic. They have also projected that over 21.7 percent of the bridges today are structurally deficient or obsolete. Reliable estimates have shown that each billion dollars invested in infrastructure creates between 40,000 and 50,000 new jobs. Further, the US Department of Transportation has estimated that every $1 billion invested in transportation infrastructure generates $2 billion in economic activity throughout our economy. Opening the daylong conference, Mr. DeFeo told the audience, "We know that investing in our own infrastructure will produce prosperity. It will save lives from better roadways. And it will put people to work that want to live in this country and prosper as my family has. But there has to be a will to do this. It is hard work to build consensus." Keynote speaker Susan Eisenhower, granddaughter of the president who fathered the nation's national highway system in 1956, said, "What happened in August 2006 [The Minnesota bridge collapse] is still happening around the country, although [less deadly collapses] aren’t getting as much attention. We have some very big challenges ahead.” During the conference's plenary session on "Innovation, Crisis, Response and Lessons Learned," moderated by former New York Governor George Pataki, former Michigan Governor and President of NAM John Engler warned that the "The U.S. will soon face a competitive disadvantage with our international trading partners if we don't develop a national plan to modernize our infrastructure system." Governor Pataki said, "So many of us experienced first-hand in the days after 9/11 and in the blackout of 2003 the critical importance of infrastructure in our daily lives. Our infrastructure is too often taken for granted until it is in crisis and that needs to change." "From rehabilitating old bridges and roads to move people and goods, to the construction of a new national transmission grid to deliver clean and renewable sources of energy to the grid, it is imperative that we create a national consensus to move forward," Governor Pataki concluded. Note: Presentations made by Susan Eisenhower, James Oberstar and John J. Sweeney have been published in Vital Speeches of the Day. Reprints of that publication are available upon request as well as a full video recording of the conference. To obtain these important materials, contact Sister Pat McGinley pmcginley@iona.edu or call 914-633-2201. (-30-) For questions or more information please contact:
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2007 - 2008
