[Evelyn Y. Davis] also has a suggestion for the photographs of Evelyn Y. Davis that will illustrate this story on Evelyn Y. Davis: "Hopefully, a male editor will pick out the pictures -- not some jealous female editor who will pick out the worst pictures."

Evelyn Y. Davis is one of Washington's living legends. Now 73, she's the millionaire queen of stockholder activists and the editor, publisher and entire staff of Highlights and Lowlights, an eccentric annual financial newsletter that she sells to corporate CEOs, who pay $525 a copy (minimum order: two copies) possibly because they are scared to death of Evelyn Y. Davis. They're scared she'll show up at their shareholder meetings to excoriate, eviscerate and generally rip their heads off with the sheer force of her Dutch- accented voice, which could sandblast granite.

The phone rings. Surprisingly, it's not Evelyn Y. Davis. It's Donna Shalala, calling at the request of Evelyn Y. Davis.