Word: bechtel
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Dates: during 1980-1989
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Shultz will face close questioning by California Democrat Alan Cranston, a staunch supporter of Israel, on the operations of the Bechtel Group, the international engineering and construction corporation that the Secretary-designate has helped run for eight years at a six-figure salary. The Senator is particularly interested in charges that Bechtel, which has multimillion-dollar contracts with Saudi Arabia, forced its subcontractors to observe the Arab boycott of Israel. But even Cranston predicted that the hearings will be shorter than the five days devoted to Haig's confirmation 18 months...
...dealing with international economic problems that Shultz acquired as Richard Nixon's Secretary of the Treasury is widely admired on both sides of the Atlantic. But Shultz is on record as opposed to the use of trade as a political weapon against the Soviets, and as a Bechtel executive he complained about the "light-switch diplomacy"-an on-again, off-again policy-preventing American companies from serving as reliable suppliers under international contracts. Those positions scarcely fit well with the stand President Reagan took at his news conference last Wednesday...
Shultz resigned as Treasury Secretary in 1974 to join Bechtel, one of the world's largest construction and engineering conglomerates. He became president the following year. Among its projects: the Hoover Dam, the Washington and San Francisco subway systems, 84 nuclear power plants, and the $20 billion Jubail Project, which is creating a new industrial metropolis in the sands of Saudi Arabia. Among his other duties, Shultz acts as a kind of secretary of state of the privately held, San Francisco-based company under Chairman Stephen Bechtel. His tasks as president of the group include coordinating international projects, articulating...
About 12% of Bechtel's business is done in Arab nations-a matter that will surely be raised at Shultz's Senate confirmation hearings. "He will be more pro-Arab than Haig," predicts New York Investment Banker Felix Rohatyn, a Democrat, who says of Shultz, "There are few more capable people in the country." Indeed, Shultz noted in a 1980 interview that "if I have any differences with Reagan, it's about Middle East policy." Even if Shultz does have a pro-Arab bias, which many of his colleagues deny, some question whether he will...
...State-designate is far less likely than his predecessor to clash with Defense Secretary Caspar Weinberger. Weinberger worked under Shultz at OMB and was Secretary of Health, Education and Welfare in Nixon's Cabinet when Shultz was at Treasury. After leaving Government in 1975, Weinberger followed Shultz to Bechtel and became general counsel and vice president of the firm. The two men are known to have worked together smoothly...