1. Richard Jones
Words: Rich Jones
photos: Jonathan Gayman
A call to
ActionEarnings season is in full swing, and many of us in
the corporate world are busy refining our business
strategies for the new year, preparing financial
statements and attending to the details of our
10-K filings and related SEC disclosures. While we
address business as usual, many of our nation’s
brave veterans are facing a very difficult transition
back to civilian life after nearly 13 years at war, as
does every generation after prolonged conflict.
Their difficulties can be traced to something
we can all relate to. Can you imagine how
you would fare if you lost your job and, as a result,
your identity and your economic mobility? Such
great uncertainty would surely crush any one of us.
The issues that veterans face are a microcosm of
the issues facing our nation: a stagnant economy,
a stagnant job market and uncertain monetary/
fiscal policy, as well as a dysfunctional regulatory/
legislative process.
Many of us are very well-versed in financial metrics:
earnings per share, return on investment, cost of capital
and P/E ratios are ingrained in our consciousness.
My point of view
40 alumni.ey.com

2. “As a country,
as a business
community
and as an EY
alumni family,
let’s look beyond
merely thanking
our nation’s
veterans for their
service and find
impactful ways
that we can all
make a difference
in their lives.”
Connect April 2015 41

3. More about Richard Jones
• Executive Vice President, General
Tax Counsel and Chief Veteran
Officer at CBS Corporation
• Former Vice President, Senior
Tax Counsel and Assistant
Treasurer at GE (NBC Universal)
• Former law clerk, State of
New York
• Member of the U.S. Department
of Labor Advisory Committee
on Veterans’ Employment,
Training and Employer Outreach
(ACVETO)
• Member of the Corporate
Counsel, Tax Policy and Mergers
& Acquisitions/Joint Ventures
Committees of the New York
State Bar Association
• Board member of the Wounded
Warrior Project, the Institute for
Veterans and Military Families
(IVMF) at Syracuse University,
USJAG (Uniformed Services
Justice and Advocacy Group),
the Easter Seals Dixon Center
for Military and Veterans
Community Services and the
Aaron Grider Foundation
• Advisor to Veterans Advantage
and ACT Today! (Autism Care &
Treatment) for Military Families
• Member of the Corporate and
Partnership Taxation Committees
of the American Institute of
Certified Public Accountants
Jones testifying before
Congress in support of the
VOW to Hire Heroes Extension
Act of 2012 (S. 3536).
U.S. Army Staff Sergeant Rich Jones
as Infantry Squad Leader of the 10th
Mountain Division at Ft. Benning, Georgia
(circa 1987).
So, as numbers-oriented professionals,
please consider the following:
• There are 22.5 million veterans in the
United States (7% of the population).
• There are 2.8 million post-9/11
veterans in the United States
(1% of the population).
• 20 to 30 veterans commit suicide each
day — that is one suicide every 65
minutes.
• 20% of this generation of veterans suffer
from post-traumatic stress, and 20%
suffer from traumatic brain injury.
• 70% of veterans who go back to get
a degree in higher education do not
complete the program.
• Post-9/11 veteran unemployment
(ages 18–34) is well over 10%.
• The cost to care for our veterans rises
for several decades and normally peaks
30 to 40 years after the war. The total
present value of the costs for care of
the veterans of Iraq and Afghanistan
over the next 40 years is projected to be
somewhere above US$1 trillion.
nobly answered the call of service after the
events of September 11, 2001. They and
their families face significant challenges as
they transition to civilian life. Where is the
accountability to honor our obligations to
those who have served?
The federal government spends over
US$250 billion per year to provide various
services and support to veterans. As
taxpayers, we should demand more for
the resources being spent. If this were a
shareholders meeting, given the statistics
I have cited above, we would demand that
Clearly, the debits don’t always equal
the credits.
In the business world, we focus on
maximizing the return on investment. But
what of the taxpayer-funded US$20 billion
per year that is spent by the Department of
Defense to train our brave men and women
in uniform? Our armed forces are the best
trained and the most educated in history.
They are our finest; they serve under the
most difficult circumstances and are trained
to overcome adversity and accomplish
any mission. In the civilian world and, in
particular, the corporate world, we don’t
fully appreciate or take advantage of this
talent. Any form of wasted human capital
is unacceptable and, in this case, it makes
no business sense, either. The question we
have to ask as business leaders is, “Are we
maximizing the return on investment?”
We need to monetize and maximize our
nation’s greatest natural resource, our
military veterans.
In the business world we speak
of accountability. But what of our
commitment to our nation’s 22.5 million
veterans, especially the 2.8 million who
42 alumni.ey.com
A call to action — Richard Jones

4. management (at a minimum) change
course. But I fear it will only get worse.
The federal government’s uncertain fiscal
trajectory is forcing policymakers to
confront difficult choices related to funding
priorities. In addition to the 2.8 million
post-9/11 veterans, there are another 1.5
million who will be transitioning from active
duty over the next three to five years.
We are all acutely aware of the
Sarbanes-Oxley Act, which was enacted
to provide higher levels of accountability
in Corporate America. I think we need a
Sarbanes-Oxley equivalent to ensure that
our government is more accountable to
our brave and selfless veterans.
In the business world, we are well-
versed in many of the aspects of financial
security. But what of our national security?
The Armed Forces of the United States
are an all-volunteer force. They are the
smartest and best-trained military in the
history of the world. President George
Washington often said that the willingness
of our young people to serve in the military
would be directly proportional to the way
they perceive how veterans of earlier wars
were treated and appreciated by their
nation. The question is, who will answer
the call in the future given how difficult
a time this generation is having after 13
years of war and sacrifice?
As the Chief Veteran Officer of CBS
Corporation, I have the pleasure of working
with many outstanding veteran advocates
across the country to find solutions to these
difficult issues. There is a great sense of
pride and excitement when they hear that
Corporate America is making an unwavering
commitment to assist our nation’s veterans
and their families. Their common response
is, “What can I do to help?”
This question hits close to home and
reminds me of my own difficult transition
from the Army many years ago. Without a
doubt, I would not be where I am today if
it had not been for the help and guidance
of so many mentors who saw something
in me that I did not see in myself. Because
of them, I went from being an enlisted
Army Ranger who was medically retired
after nearly six years of honorable service,
to someone who went back to school,
obtained a world-class education and
became a CPA and lawyer; who worked
at EY, then at GE; and who now has the
amazing good fortune to work for CBS
Corporation as its General Tax Counsel.
Unfortunately, many of our nation’s
veterans do not have the support and
mentoring that is so critical to a successful
transition. Despite being amazingly
skilled and talented, many are struggling
to gain traction in today’s competitive
marketplace. Gainful employment,
advanced training and education, general
upward economic mobility and a chance at
the American Dream are all they ask for.
They are now looking to us for inspiration.
How will we respond? They need our
energy and passion in addition to our
gratitude and compassion. Our sacrifice
has to be equal to theirs!
With stock markets reaching new highs,
let’s make sure to remember the nearly 2.8
million post-9/11 veterans who are currently
in some form of transition after serving
our country so bravely. Their dedication
and sacrifice remind us all that the highest
expression of citizenship is military service.
They continue the great legacy of those
who came before them and built this great
country. While they were in harm’s way
protecting our way of life, we have been
able to focus on the capital markets, our
shareholders and our prosperity.
As a country, as a business community
and as an EY alumni family, let’s look beyond
merely thanking our nation’s veterans for
their service and find impactful ways that we
can all make a difference in their lives. Let’s
ensure that their sacrifices and those of their
families are never forgotten, and that this
great country is doing all it can to promote
their well-being. Like those who have come
before us, let us answer this call to action!
Richard M. Jones
Executive Vice President, General Tax
Counsel & Chief Veteran Officer
CBS Corporation
Supporting
our vets
Every day, our veterans contribute to EY’s
success. Veterans make great employees —
their military experience provides them with
the leadership skills, confidence and teaming
abilities that can be gained few other places.
And here are some of the ways EY returns
that support:
• The EY Veterans Network — a professional
resource network created by our veterans
to help them connect and support one
another within EY. The network comprises
more than 600 members from all
branches of the Armed Forces, including
many spouses and children of veterans.
• 100,000 Jobs Mission — EY is part of this
coalition of leading corporations committed
to hiring 100,000 transitioning service
members and military veterans by 2020.
• Support of think tanks such as the
Institute for Veterans and Military Families
(IVMF) — This interdisciplinary organization
seeks to address the economic and public
policy concerns of our nation’s service men
and women. Through EY fellowships, select
professionals contribute their expertise pro
bono to IVMF for several months a year.
• Entrepreneurship Bootcamp for Veterans’
Families — EY is a founding sponsor of
this organization, which provides support
to military family members who find
themselves in a full-time role caring for
a wounded warrior, as well as to the
surviving spouse of a fallen hero.
In addition, EY assists veterans in our
local communities and across the country
through sponsorship of a variety of other
veteran-related activities and causes.
“The men and women who serve in
the military never hesitate to give more,
inspiring our firm to continually seek new
ways to strengthen its support of veterans
and honor their commitment to our
country,” says Joe McHugh, EY Veterans
Network founder and co-leader.
For more information, contact Joe
at joe.mchugh@ey.com.
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