Word: budd
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Some unforeseen consequences of that decision, however, now threaten to ignite an international brawl. Trouble reached a climax last week when Treasury Secretary Donald Regan refused to grant cheap federal financing to aid the ailing Budd Co. of Troy, Mich., in a bid to build the cars...
...Budd lost the $660 million subway contract to Canada's Bombardier Inc. The Canadian government had given help to its firm by providing the financing that permitted it to offer New York an interest rate of just 9.7% on the deal. Budd tried to invoke a law that requires the U.S. Government to subsidize a loan when inexpensive credit gives foreign bidders the edge...
...Administration, though, did not agree. Said Regan in Washington: "Bombardier would have been awarded the contract even if Budd were able to offer matching financing." Regan said that the Bombardier bid was superior on all seven points that New York's Metropolitan Transportation Authority had considered. Those included the design and availability of the new cars, and their compatibility with other equipment...
Hugh Sloan Jr., 41, Haldeman aide and treasurer of Nixon re-election committee who disclosed Liddy's withdrawal of campaign funds for Watergate snooping, cooperated with investigators. Now president of Budd Canada, branch of car-and truck-frame company. "There was a lot of personal tragedy involved," he says of Watergate. "It created a learning experience that one might not have chosen, but that certainly was a valuable...
Elections for the six liaison committee members--two from each class--were held two weeks ago, with a turnout of about 60 per cent, Budd said. Besides Budd, elected members include Patricia I. Hansen '82, Robert A. Simins '82, M. Todd Collins '83, Adam S. Cohen '84 and Elizabeth Eisold...