If there was ever a year in which executives could really distinguish themselves, this was it. Recession, terrorism, war: What didn't go wrong in 2001? Companies already hurt by the sluggish global economy had to contend with the eerie consumer retreat that took place in America after the September 11 attacks. Back in June, executives complained they had "no visibility" on the timing of a recovery; by October, some in the airline and insurance business were hoping the government would see fit to bail them out. Crisis management took on new meaning. It did little good for chief executives to boast about their prospects or deny their mistakes. No one, not investors, not board members, certainly not employees or consumers, was in the mood for that. It was a year to be utterly realistic.
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