Word: chairman
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Dates: during 1970-1979
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There are strong arguments against giving Chrysler the cash. Opponents cite the British experience of never-ending subsidies to sick companies and its disastrous effect on the taxpayers. G.M. Chairman Thomas A. Murphy argues that federal aid insulates companies from the effects of competition in the marketplace, perpetuates inefficiency and creates unfairness. There is no precedent for what Chrysler wants. In 1971 Lockheed was rescued with a federal loan guarantee for $250 million of its private debt. But that cost the taxpayers nothing, and by the time the Lockheed loans were paid off in 1977, the Government made a profit...
Still, Congress seems to favor doing something for Chrysler, although $1 billion in tax refunds is distasteful to legislators who yearn to narrow the federal deficit. They may move instead for a loan guarantee. Senate Finance Committee Chairman Russell Long has pledged some aid for Chrysler. Says he: "It is better than letting the company fold. That would cost a lot of revenue and jobs." House Ways and Means Chairman Al Ullman is unenthusiastic but promises to expedite whatever bailout measures the Carter Administration proposes...
...been Big Business 25 years ago, are considered fairly small or at most middling in these inflationary days. Unlike the community of large corporations, the mass of these outfits seldom speaks with one voice on issues that affect them. Now someone wants to be their champion: Arthur Levitt Jr., chairman of the American Stock Exchange, where 95% of the 964 listed companies have revenues under $350 million. He proposes to form a lobby that would be patterned after the Business Roundtable, whose members include the chiefs of 190 of the nation's biggest corporations. His organization, Levitt says, would...
...George of small business, Levitt, 48, son of a New York Democratic politician who was the state's unbeatable comptroller for 24 years, may be making a virtue of necessity. The American Stock Exchange, after all, has long been a home for smaller companies. When he became its chairman in January 1978, he inherited a roster of restless firms whose ambition was to grow large enough to be listed on the Big Board, the New York Stock Exchange. Levitt, who now earns more than $200,000 a year, says he discovered that these companies had "little representation in government...
...wasn't there at the Camp David hair-down sessions, let alone when the Cabinet-level jobs were handed out, was America's premier banker, Walter Wriston. His absence was unsurprising if unfortunate because, along with being the most innovative of moneymen, the Citicorp chairman delivers outspoken opinions with a rapier tongue that belies his early career as a State Department diplomat. In a glass house 15 stories above Park Avenue, he sits at a circular desk (the better to gather aides around to chew over ideas) and, eyebrows arched and wisecracks flying, tosses out some sharp-edged...