Word: bendixes
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...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...
This was a little odd because Blumenthal, former chief executive at Bendix, was testifying in defense of President Carter's plan to halve tax deductions for business entertainment. But Blumenthal did offer some notable cases of corporate high living, particularly one trencherman who charged off 338 business lunches in one year...
...natural enough view for his Secretary of the Treasury, W. (for Werner) Michael Blumenthal, who, after a rocky beginning in his post, has in the past few months gained clear pre-eminence among the President's economic aides. Blumenthal is a former Big Businessman himself?he was chairman of Bendix Corp. before he came to Washington?and, though he has never been fully accepted by corporate leaders as one of their own, he knows how his former colleagues in the executive suite think...
After four years in the trade job, Blumenthal in 1967 became president of Bendix Corp., the Detroit-area conglomerate (auto parts to mobile homes). He rose to become chairman, and under his leadership Bendix was known in business circles as one of the best-managed companies in the country. Beyond increasing sales and profits, Blumenthal argued forcefully, business also has a social role. Long before it became fashionable, he conducted an outspoken campaign for corporations to adopt a code of ethics, urging others to emulate Bendix's openly professed policy of refusing to make payoffs to win orders...
That left Miller and MacLaury, 46. Miller clearly had the advantage. His sponsor was Blumenthal, himself a businessman (former Bendix Corp. chief) and an old acquaintance. Last Tuesday, the President talked with Miller and MacLaury in morning interviews, and in the end Carter's wish to appeal to the business community ruled out MacLaury...