Word: businessmen
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Dates: during 1970-1979
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...increasing energy supplies by eventually lifting all controls on oil and gas and letting the market determine prices. Says Sprinkel: "It's backward economics. We're not allocating enough resources for investment." In addition, Greenspan fears that the program will create a new bureaucracy, add to businessmen's uncertainty and result in a continuing lag in much needed investment in plant and equipment in all segments of industry. Says Greenspan: "The view that somehow this program is going to enhance growth is to me an utterly noncreditable notion...
Most of the businessmen represented firms that did business in Cuba before the revolution: Honeywell, Pillsbury, General Mills, Bemis. They want to be in on the ground floor when the embargo is lifted-which virtually all consider certain to happen. But their Cuban hosts, cabled TIME Correspondent Chris Ogden, who traveled with the group, seemed doubtful at first. Over and over they asked their guests whether they really thought the embargo would end. Groaned one Minnesotan later: "How many times do you have to tell your wife you love...
Groaning Buffets. The Cuban welcome could hardly have been warmer. There were frozen daiquiris at the airport and buffets groaning with fresh lobster, shrimp, glazed red snapper and other delicacies that ordinary Cubans seldom see. Premier Fidel Castro himself showed up to chat, joke and sign autographs for the businessmen...
Carter's aides had hoped that his mild anti-inflation program and his retreat on the $50 tax rebate would help boost businessmen's confidence in the Administration. That does not seem to have happened. Businessmen were generally happy with Carter's continued rejection of controls and his dumping of the rebates. Said Wall Street Investment Banker Sherman Lewis of Loeb, Rhoades & Co.: "It shows that maybe he is a little slow, but he is smart. The guy is willing to admit when he is wrong...
...Businessmen were generally angry, however, about Carter's decision to abandon the proposed increases in the investment tax credit. Many of them believe that higher credits are the best way to ensure full economic recovery. Said William Shesky, president of the Bostonian Shoe Co.: "The real approach to attacking inflation is through the private sector, by increasing productivity." But interviews by TIME correspondents across the country indicated that businessmen probably would have continued to mistrust Carter in any event. One reason: many businessmen fear that he will turn out to be a big-spending liberal in spite of his conservative...