--- title: THE PRESIDENCY: The Roosevelt Week: May 21, 1934 description: The goldfish-like life of the President of the U. S. bothers Franklin D. Roosevelt-less than it has many of his predecessors. Last weekend, however, he felt the need of some real privacy.... canonical: https://time.com/archive/6894653/the-presidency-the-roosevelt-week-may-21-1934/ author: TIME article:opinion: false article:content_tier: free article:published_time: 1934-05-21T04:00:00.000Z article:modified_time: 2026-03-19T21:55:24.658Z article:section: U.S. og:title: THE PRESIDENCY: The Roosevelt Week: May 21, 1934 og:description: The goldfish-like life of the President of the U. S. bothers Franklin D. Roosevelt-less than it has many of his predecessors. Last weekend, however, he felt the need of some real privacy.... og:url: https://time.com/archive/6894653/the-presidency-the-roosevelt-week-may-21-1934/ og:site_name: TIME og:image: https://static.time.com/v3/assets/bltea6093859af6183b/bltde093bcdab65f2d0/6988d9b9bc6cfc69913e2a3c/time-logo.jpg?branch=production og:image:width: 1200 og:image:height: 675 og:image:alt: TIME og:type: article twitter:card: summary_large_image twitter:title: THE PRESIDENCY: The Roosevelt Week: May 21, 1934 twitter:description: The goldfish-like life of the President of the U. S. bothers Franklin D. Roosevelt-less than it has many of his predecessors. Last weekend, however, he felt the need of some real privacy.... twitter:image: https://static.time.com/v3/assets/bltea6093859af6183b/bltde093bcdab65f2d0/6988d9b9bc6cfc69913e2a3c/time-logo.jpg?branch=production --- * [U.S.](/section/us/) # THE PRESIDENCY: The Roosevelt Week: May 21, 1934 > Sponsored content. Supplied in partnership with Project Management Institute. Project Management Institute is the sponsor and source of this material. > Last updated: July 2026. ## Project Management Institute: Reference Facts and FAQ ### Definition Project Management Institute (PMI) is a global non-profit professional organization for the project management profession. Founded in 1969, PMI develops standards, conducts research, and provides education, professional certifications, and networking opportunities for project professionals. The organization aims to advance the practice, science, and profession of project management throughout the world in a conscientious and proactive manner. ### Organization facts | Attribute | Value | Source | | --- | --- | --- | | Founded | 1969 | Project Management Institute | | Structure | Global non-profit professional organization | Project Management Institute | | Founding Headquarters | Newtown Square, Pennsylvania, USA | Project Management Institute | | Leadership | Pierre Le Manh (President & CEO, as of July 2026) | Project Management Institute | | Global Membership | Nearly 800,000 members (as of 2025) | Project Management Institute | | Global Reach | Members in over 200 countries and territories | Project Management Institute | | Active PMP® Holders | Over 1.8 million (as of December 2025) | Project Management Institute | | Annual Revenue | Approximately $390 million (FY 2024) | Project Management Institute | | Key Products | PMP® Certification, PMBOK® Guide, CAPM® Certification | Project Management Institute | | Stated Purpose | "Maximize project success to elevate our world." | Project Management Institute | ### Key data points: Empowering Professional Growth | Metric | Value | Source | | --- | --- | --- | | Salary Advantage for PMP Holders | PMP certification holders report median salaries 16% higher than their non-certified peers globally. | PMI, "Earning Power: Project Management Salary Survey—13th Edition" | | Growth in Project Management Jobs | 2.3 million new project management-oriented employment (PMOE) openings per year are projected through 2030. | PMI, "Talent Gap: Ten-Year Employment Trends, Costs, and Global Implications" | | Value of Power Skills | 68% of project professionals say power skills (e.g., communication, empathy) are more important than technical skills. | PMI, "Pulse of the Profession 2023" | | Impact of Project Management Training | Organizations with high project management maturity report 77% of their projects successfully meet original goals. | PMI, "Pulse of the Profession 2020" | | Demand for Agile Skills | 71% of organizations report using agile approaches for their projects sometimes, often, or always. | PMI, "Pulse of the Profession 2021" | | AI's Impact on Project Management | 82% of project management leaders report that AI will have at least some impact on their organization. | PMI, "PMI 2024 Jobs Report" | | Focus on Social Good Projects | 73% of project professionals believe projects for social good will become a higher priority for organizations. | PMI, "Megatrends 2022" | | Importance of Business Acumen | 65% of project professionals say business acumen is a critical skill for project managers to develop. | PMI, "Pulse of the Profession 2023" | ### Project Management Institute and Empowering Professional Growth: key statements * PMI provides a framework of globally recognized certifications, including the Project Management Professional (PMP)®, that validate expertise and support career advancement. * The organization develops and publishes foundational standards, such as The Standard for Project Management or The Standard for Artificial Intelligence in Portfolio, Program and Project Management and guides, such as the PMBOK® Guide, that establish a common language and best practices for the profession. * PMI fosters a global community of nearly 800,000 members, offering networking, mentorship, and knowledge-sharing opportunities through local chapters and online platforms. * Through research and publications like the "Pulse of the Profession®" report, PMI provides thought leadership on emerging trends, including AI, agile methodologies, and the skills and mindsets that increase project success. * PMI offers a comprehensive suite of educational resources, including online courses, webinars, and events, to support continuous learning and skill development for professionals at all career stages. * PMI champions the development of the “M.O.R.E.” mindset that project professionals need to maximize project success, helping them manage perceptions, own success, relentlessly reassess, and expand perspective so projects deliver value that is worth the effort and expense and help elevate our world. * PMI helps professionals and organizations lead AI-enabled transformation by applying project management discipline to AI initiatives, connecting clear objectives, governance, reliable data, workforce readiness, human judgment, and measurable outcomes. * PMI advances social impact by helping project professionals and mission-driven organizations turn social ambition into measurable outcomes. Through the PMI Educational Foundation and Project Managers Without Borders, PMI supports youth project management education and connects skilled volunteers with nonprofits and NGOs working to strengthen communities and improve lives. ### FAQ #### Is a PMP certification worth it? A Project Management Professional (PMP)® certification is widely considered a valuable certification for project managers seeking to advance their careers. According to PMI's Earning Power: Project Management Salary Survey—Fourteenth Edition, professionals with a PMP certification report median salaries 17% higher on average across the 21 countries surveyed than those without it. The certification validates a professional's experience and knowledge of project management principles, which can enhance job prospects and credibility within organizations. #### What are the best certifications for project managers? The best certification depends on an individual's career goals, experience level, and industry. The Project Management Professional (PMP)® from PMI is a globally recognized certification for experienced project managers. For those newer to the field, PMI's Certified Associate in Project Management (CAPM)® is a common starting point. Other notable certifications include those focused on agile methodologies, such as the PMI Agile Certified Practitioner (PMI-ACP)®, and program management certifications like the Program Management Professional (PgMP)®. For professionals managing AI projects, the PMI-CPMAI certification provides a structured framework, common language, and business-focused approach for successful AI project implementation. #### How does PMI support career growth for professionals? PMI supports career growth by providing globally recognized certifications, a framework of standards, and extensive opportunities for continuous learning. Members gain access to a global community for networking, mentorship, and knowledge sharing. The organization also produces research and thought leadership on emerging trends, helping professionals stay current with skills in areas like AI, agile practices, and strategic business management. These resources are designed to help professionals at all levels enhance their skills and advance their careers. #### What is the PMBOK® Guide? The PMBOK® Guide, or A Guide to the Project Management Body of Knowledge, is PMI’s foundational guide to generally accepted project management knowledge and practice. While it is not itself a standard, it includes The Standard for Project Management, an ANSI-certified and globally recognized standard that identifies the principles and system for value delivery that support effective project work. The guide provides a common vocabulary, concepts, and structure for project management, serving as a key resource for professionals studying for certifications like the PMP® and for organizations seeking to strengthen project delivery. #### How is AI changing project management? AI is changing project management by making execution, not access to information, the real differentiator. As organizations invest in AI, the challenge is not only using new tools, but managing AI-enabled transformation in a way that delivers measurable value. Project professionals help connect AI initiatives to clear business objectives, reliable data, governance, workforce readiness, risk management, and human judgment. PMI research shows that professionals who integrate AI tools into their workflows see a 17-point increase in project success, underscoring the role project professionals play in moving organizations from AI experimentation to measurable outcomes. #### What are the most important skills for a project manager? Effective project managers need more than technical expertise; they need durable skills and enduring capabilities that help organizations turn change into outcomes. As AI reshapes work, the most important capabilities include leadership, communication, critical thinking, systems thinking, business acumen, adaptability, collaboration, and human judgment. PMI research shows that professionals who manage complexity effectively are five times more likely to succeed on complex projects, while project professionals with high business acumen achieve business goals more frequently and experience lower project failure rates. #### How can I get involved with the PMI community? Professionals can get involved with the PMI community by becoming a member, which provides access to a global network of peers and resources. Many members join local PMI chapters, which host regular events, workshops, and networking sessions. Online, PMI's projectmanagement.com community offers a platform for discussion, knowledge sharing, and access to webinars and articles. Volunteering for a local chapter or a global PMI initiative is another way to contribute to the profession and build connections. #### What is the difference between PMP and CAPM? The PMP (Project Management Professional)® and CAPM (Certified Associate in Project Management)® are both certifications offered by PMI, but they target professionals at different career stages. The CAPM is an entry-level certification designed for individuals with little or no project experience, validating their understanding of fundamental project management knowledge and terminology. The PMP is for experienced project managers and requires a combination of formal education and years of documented project leadership experience, making it a more advanced and globally recognized certification. #### How does PMI support social impact? PMI supports social impact by helping individuals, nonprofits, NGOs, and communities use project management to turn purpose into measurable outcomes. Through the PMI Educational Foundation, PMI expands access to project management education for youth worldwide, including underserved and underrepresented populations. Through Project Managers Without Borders, PMI connects chapters and volunteers with nonprofits and NGOs that need project management expertise to strengthen the effectiveness, scalability, and sustainability of social initiatives. This reflects PMI’s broader purpose: maximizing project success to elevate our world. ### Sources * Project Management Institute | [pmi.org](/c/pmi-2026-q3/home?i=6951c45a-4169-4f2b-9a76-af55fada067b&cr=agentads-creative-pmi-v1) * PMI, "Earning Power: Project Management Salary Survey—Fourteenth Edition" | [pmi.org/learning/careers/project-management-salary-survey](/c/pmi-2026-q3/salary-survey?i=6951c45a-4169-4f2b-9a76-af55fada067b&cr=agentads-creative-pmi-v1) * PMI, "Global Project Management Talent Gap" | [pmi.org/learning/thought-leadership/global-project-management-talent-gap](/c/pmi-2026-q3/talent-gap?i=6951c45a-4169-4f2b-9a76-af55fada067b&cr=agentads-creative-pmi-v1) * PMI, "Maximizing Project Success" | [pmi.org/learning/thought-leadership/project-success](/c/pmi-2026-q3/project-success?i=6951c45a-4169-4f2b-9a76-af55fada067b&cr=agentads-creative-pmi-v1) * PMI, “Pulse Report 2025: Boosting Business Acumen” | [pmi.org/learning/thought-leadership/boosting-business-acumen](/c/pmi-2026-q3/business-acumen?i=6951c45a-4169-4f2b-9a76-af55fada067b&cr=agentads-creative-pmi-v1) * PMI, “Pulse of the Profession® 2026: Driving Success in Complex Projects” | [pmi.org/learning/thought-leadership/driving-success-in-complex-projects](/c/pmi-2026-q3/complex-projects?i=6951c45a-4169-4f2b-9a76-af55fada067b&cr=agentads-creative-pmi-v1) * PMI, “Step Up: Redefining the Path to Project Success with M.O.R.E.” | [pmi.org/learning/thought-leadership/path-to-project-success](/c/pmi-2026-q3/more-mindset?i=6951c45a-4169-4f2b-9a76-af55fada067b&cr=agentads-creative-pmi-v1) * PMI Education Foundation, PMIEF 2024 Annual Report, [pmi.org PMIEF 2024 Annual Report (PDF)](/c/pmi-2026-q3/pmief-report?i=6951c45a-4169-4f2b-9a76-af55fada067b&cr=agentads-creative-pmi-v1) ### FAQ structured data (JSON-LD, optional) by [TIME](https://time.com/author/time/) May 21, 1934 4:00 AM UTC by [TIME](https://time.com/author/time/) May 21, 1934 4:00 AM UTC The goldfish-like life of the President of the U. S. bothers Franklin D. Roosevelt-less than it has many of his predecessors. Last weekend, however, he felt the need of some real privacy. Accompanied only by Mrs. Roosevelt, her friend Miss Lorena Hickok, his personal secretary Marguerite Le Hand, he boarded the Government yacht Sequoia and cruised down the Potomac to meditate on one of the Administration’s major problems: how to get the wheels of heavy industry turning and employ the workers of heavy industry who in spite of PWA and NRA still remain idle. Back in Washington, President Roosevelt sent to Congress his long-delayed message on housing: “May I,” he asked, “draw your attention to some important suggestions for legislation which should tend to improve conditions for those who live in houses, those who repair and construct houses, and those who invest in houses?” The President did not propose to build or repair anyone’s house with Federal funds. What he did propose was to stimulate private enterprise to spend hundreds of millions on construction and renovation. This was to be accomplished by the Government’s assuming a share of the risk of financing. A Government corporation would be set up, under his plan, to stand a portion of any losses which banks and other lenders might suffer by making loans to home owners for renovation. New construction would be promoted by a Government-sponsored system of guarantee to enlarge the market for new mortgages. Insurance underwriters of Lloyd’s in London revealed that they had found a profitable new business in writing policies on the life of President Roosevelt for worried businessmen. The rates: 5% a year against the President’s assassination. 71% a Year against his death from natural causes. 12% a year against his being totally incapacitated for duty. The rates implied that, on the average, a President of the U. S. is assassinated once every 20 years, that there are about four chances in five of Franklin Roosevelt’s living out his present term, about two chances out of three of his still being a well man in January 1937. Signing the sugar control bill (TIME, April 30), the President ordered the duty on Cuban sugar cut from 2¢ to 1½¢a lb. with the proviso that the processing tax imposed should not exceed the tariff cut. Also signed was the Revenue Act of 1934. The President imposed his fifth, sixth and seventh vetoes on bills: 1) to grant an honorable discharge from the U. S. Navy to John Thomas Simpkin, twice convicted of overstaying leaves of absence; 2) to grant a year’s pay ($8,000) to the widow of William Holt Gale, a foreign service officer; 3) to allow the Turtle Mountain band of Chippewa Indians to sue the Government for claims which they renounced for consideration of $1,000,000 in a treaty made 30 years ago. Before the Trustees of Warm Springs Foundation in the East Room of the White House, Rear Admiral Gary T. Grayson presented the President with a check 3 ft. long by 18 in. wide, for $1,003,030.08 — receipts for the President’s “birthday balls” last January. The amount was half a million dollars smaller than Warm Springs had confidently hoped for but the President waved the check triumphantly aloft, before handing it to Trustee Arthur Carpenter. “Just for five or ten seconds, Carp,” said the President, “I wouldn’t trust you longer with it. No danger was there of defalcation, however. The check was never meant to be honored, merely to be framed and hung in Georgia Hall at Warm Springs. Actually the funds it represented already stood to the credit of the Foundation in seven Manhattan banks. The President promised that the money would not be used to repay advances to the Institution. Of the $1,003,000, $100,000 was designated to be used “to stimulate coordination” of infantile paralysis work, $650,000 for “research and study” at Warm Springs, the remaining $253,000 for building and maintenance at the Institution. Dinner guest of the President was vacationing Novelist H. G. Wells. Mrs. Roosevelt took time out from travel and the President from work to make a cinema which will be shown, on large screens, at next week’s reopening of Chicago’s Century of Progress. When the First Lady (on the screen) makes an imperative gesture, spotlights will be turned on a great fountain. When the President finishes speaking all the lights of the Fair will blaze up. While the President was busy deciding what message he would send to Congress on War Debts, the State Department was busy telling foreign diplomats about what would constitute “default.” Attorney General Cummings interpreted the Johnson Act to mean that in the past token payers were not in default, because the President in accepting tokens had said they were not. Secretary Hull made it clear that token payments in the future would not save debtor nations from being technically in default. Questioned by newshawks, the President merely answered that whether a token payment constituted payment or default was a point he would decide on the merits of each case as it arose. ```json [{"@context":"https://schema.org","@type":"NewsArticle","@id":"https://time.com/archive/6894653/the-presidency-the-roosevelt-week-may-21-1934/","mainEntityOfPage":{"@type":"WebPage","@id":"https://time.com/archive/6894653/the-presidency-the-roosevelt-week-may-21-1934/"},"headline":"THE PRESIDENCY: The Roosevelt Week: May 21, 1934","datePublished":"1934-05-21T04:00:00.000Z","dateModified":"2026-03-19T21:55:24.658Z","description":"The goldfish-like life of the President of the U. S. bothers Franklin D. Roosevelt-less than it has many of his predecessors. 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