Word: ilgenfritz
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Dates: during 1953-1953
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...past four years the Republicans have released great belches of indignation over government office-holders deriving outside income. They assailed President Timman's nomination of U.S. Steel's Carl Ilgenfritz to the chairmanship of the Munitions Board because Ilgenfritz intended to continue drawing his U.S. Steel salary. Under an 1870 law, it is illegal for any government contracts to a firm in which he has a financial interest. The Senate therefore refused to confirm Ilgenfritz...
...problem all over again. Defense Secretary designate Charles F. Wilson had derived a healthy income from several million dollars worth of General Motors stock, and is reluctant to give it up. But the Senate indicated it could not confirm his appointment if he held the stock since he, like Ilgenfritz, would be violating a law. Wilson is adamant. The money is his; he wants to keep it. Wilson seems intent on putting personal gain above government service. It matters not that General Motors has the Defense Department's largest contract, and that the law says that a government official cannot...