D&B: Let's go back to your early days of directorship. You became a director of General Electric in 1971. You were senior vice president at that time, shortly becoming vice chairman. In 1972 you were elected president, then six months later became chairman. So you weren't a director for very long before you became chairman.

Jones: No, but I had the opportunity to see a great deal of the board and the board had an opportunity to see a great deal of me, because my predecessor was a very thoughtful, well-organized individual who did a great deal of planning. He had about half a dozen of us who he felt were in the succession "contest," and he made a point of having us all make a substantial number of presentations to the board and sit in on discussions of major business problems with the board. He also gave us the opportunity to associate with the board in a social atmosphere - at meals and golf games, and so on.

D&B: Do you remember your first board meeting as a director?

Jones: Not vividly, for the simple reason that I had been included in so many different meetings and presentations with the board that when I was officially elected to the board it was more of a natural evolution rather than some kind of a sea change.

D&B: Is being elected to the board one of those singular events in an executive's life?

Jones: It's a singular event in the sense that, just as the first time you're elected an officer of the corporation, it is significant recognition. It leaves a tremendous impression.