[Congressional Record Volume 153, Number 191 (Thursday, December 13, 2007)]
[Extensions of Remarks]
[Page E2566]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




         RECOGNIZING THE TENTH ANNIVERSARY OF DOW JONES INDEXES

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                         HON. CHARLES B. RANGEL

                              of new york

                    in the house of representatives

                      Thursday, December 13, 2007

  Mr. RANGEL. Madam Speaker, I rise today to recognize the tenth 
anniversary of Dow Jones Indexes, which will be celebrated on December 
14, 2007, in New York City.
  Our good friend and former colleague, Guy Vander Jagt, who we lost 
this year, was proudly associated with Dow Jones and Company for much 
of his professional career, and I know that if he was still with us he 
would be joining in this anniversary celebration.
  For over a century the name of the Dow Jones & Company has been 
linked with integrity and business investment in America. Much like 
other words that have entered the America lexicon in everyday use, 
``Dow Jones'' means stocks and their value on Wall Street to virtually 
every American. It is remarkable that the Dow Jones Industrial Average 
is the oldest continuing stock market index in the world. However, over 
the past 10 years of serving the American people, Dow Jones Indexes has 
grown far beyond just the time-honored Dow Jones Industrial Average to 
become a leading authority in the global financial markets, 
researching, launching and supporting a staggering 130,000 indexes, 
tracking equity markets and other asset classes around the globe.
  For example, The Dow Jones Wilshire Indexes are benchmarks for the 
entire institutional investing community--affecting the retirement 
plans of Americans across the land. The Dow Jones-AIG Commodity Indexes 
and the Dow Jones Sustainability Indexes are just two more examples of 
more specialized Dow Jones indexes that have changed the way the world 
views these markets. Through expansion and innovation in financial 
markets, the Dow Jones Indexes have continued to serve as a linchpin of 
the American financial industry. Indeed, across America and around the 
world their innovations have changed the very landscape of investing 
and the financial community. Today, over $2.1 trillion of assets--from 
millions of investors worldwide--are linked to indexes published by Dow 
Jones Indexes and STOXX, its joint venture in Europe that is co-owned 
with Deutsche Borse and the Swiss Exchange, SWX.
  Through its growth, Dow Jones Indexes has helped to build awareness 
and drive the adoption of index-based products as an important 
investment category, a trend that is widely viewed to benefit investors 
by offering them diversified, transparent and low-cost investment 
alternatives. The indexes additionally offer investors tools with which 
they can appropriately evaluate their portfolio's performance, no 
matter what its composition.
  It is with this background that I wish to recognize the Tenth 
Anniversary of Dow Jones Indexes and their service to the American 
people. I would like to recognize John A. Prestbo, one of the first 
recipients of the William F. Sharpe Indexing Lifetime Achievement 
Award, which recognizes the most accomplished innovators and 
practitioners in the indexing industry. He was awarded this prestigious 
honor for serving as the long time Editor and now Executive Director of 
the Indexes group within Dow Jones. Along with the stewardship of 
Michael Petronella, the group president and over 200 dedicated 
employees, they continue to innovate and grow and strengthen the vast 
family of Dow Jones Indexes, and with that growth they have helped to 
serve, enhance, and protect the dreams of millions upon millions of 
Americans who are planning their own financial futures.

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