BUSH NOMINATES CSX CORP.’s SNOW AS TREASURY SECRETARY

BUSH NOMINATES CSX CORP.ÆS SNOW AS TREASURY SECRETARY    President Bush on Monday nominated John W. Snow, chairman, president and chief executive officer of CSX Corp., to be Secretary of the Treasury.
   Bush said that Snow, 63, “has excelled as a business leader, an expert on economic policy, an academic, and a public servant. He’ll be a superb member of my cabinet.”
   Snow said, “we cannot be satisfied until everyone — every single person who is unemployed a seeking a job — has an opportunity to work.”
   After earning a Ph.D. in economics and a law degree, Snow worked in Washington, D.C., in the Department of Transportation, first as assistant general counsel and then as deputy assistant secretary of policy. As a political appointee in the Ford administration, Snow left the DOT after Jimmy Carter won the presidency in 1976.
   He became president and chief executive officer of CSX Transportation in 1987, and then of CSX Corp. in 1988. In 1991, Snow became chairman of CSX Corp.
   According to financial statements from CSX Corp., Snow earned $2.2 million in 2001, plus $11 million in bonuses.