Word: blough
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Steel Corp.'s Chairman Roger M. Blough, to head a businessmen's committee to pro pose ways of dealing with the U.S.'s gold outflow. Last week, to show that he can be tough on labor too, he publicly condemned a threatened strike by airline flight engineers (see following story). Bobby Kennedy recently invited 15 big businessmen to lunch, attempted to persuade them that his brother is not really hostile to business. But he - like his big brother -felt compelled to warn them that continued hard feeling on their part might lead to presidential hostility...
Seeking economic advice last week, John F. Kennedy asked Roger Blough over to the White House. The invitation aroused sardonic comment from businessmen around the country, but the problem at issue was one that concerned the chairman of the U.S. Steel Corp. no less than the President: the chronic U.S. gold drain...
...were in Washington," says the University of Chicago's Lorie, "I would ponder the fact that the really steep decline of the stock market started at the time of the Kennedy-Blough battle. I would ponder that, because to a great extent our growth, our prosperity and our hopes of moving the country forward depend on the confidence of businessmen, large and small, and their expectations for the future. If those expectations are damaged, that could be much more serious than the stock market decline...
Solitary Dissenter. For all their growing leeriness of the Kennedy Administration, businessmen were at least eager to see whether, in order to hold his noninflationary line. Kennedy would have to crack down on labor as hard as he had on Roger Blough...
...West Germany last week, government and business played out their own version of the great Kennedy-Blough drama. The German actors did their best to follow the original script faithfully, but somehow something got lost along the line in translation...