Word: bendix
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Dates: during 1970-1979
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...Administration mobilized such formidable economic firepower, filling the Cabinet with five Ph.D. economists: Blumenthal, Commerce Secretary Juanita Kreps, Labor Secretary Ray Marshall, Energy Secretary James Schlesinger and Chief Economist Charles Schultze. In addition, a number of Carter's appointees possessed impressive managerial credentials. Blumenthal had headed the Bendix Corp., one of the nation's best-run firms, while Bert Lance, Carter's first Budget Director, was a highly successful banker...
Union PACs favor Democrats over Republicans by a ratio of about 12 to 1. By contrast, the corporate donations this year were split about equally between Democrats and Republicans. Most of the money went to incumbents with lots of seniority. Says John Bonitt, head of Bendix Corp.'s PAC: "That's where the committee chairmen are." Louisiana Democrat J. Bennett Johnston, who heads Senate subcommittees on energy and appropriations, received at least $192,000 from about 190 PACs, though he had only token opposition in the primary and none in the general election. Why so much support? Says...
...Motor Co.; following a heart attack; in Royal Oak, Mich. Son of a Missouri blacksmith, Breech showed a big-city flak for business management and a wizardry with figures that propelled him to the chairmanship of North American Aviation Inc. in the early 1930s. After Breech had vitalized the Bendix Aviation Corp, in a single year, a desperate Henry Ford n persuaded him to quarterback Ford's new management team. Breech arrived in 1946 to find what he called an "awkward and stumbling colossus" with an estimated $100 million annual losses. When he stepped down as board chairman...
Miller also had a strong supporter in Treasury Secretary W. Michael Blumenthal, an acquaintance from days when Blumenthal was running Bendix Corp. An interview with Carter, who had met him briefly four times before, clinched the job for Miller. It seems fitting that two self-confident businessmen from rural backgrounds, who had initially sought success by going to military academies and who styled themselves economic moderates and social liberals, should hit it off. Miller faced a tough grilling by the Senate Banking Committee about bribes paid by Textron to spur sales of its Bell helicopters in Iran. His cool, precise...
...Senators present, half of whom can count their net worth in seven figures.- The most heated exchanges came when Republican Senator Bob Pack wood of Oregon (net worth: $100,000) accused both Blumenthal and Carter of "demagogu-ery." Whereupon Blumenthal, himself a stock-option millionaire from his Bendix Corp. days, retorted, "This isn't demagoguery. It's facts." He added testily: "I'm not running for office, and I don't particularly need this...