Word: clausen
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World Bank President A.W. Clausen, the former chairman of Bank of America, had tried for several years to widen his institution's responsibility, but he was rebuffed by the White House. Ironically, just as the Administration is adopting some of his views, Clausen said last week that he will leave office at the end of his term in July. Clausen, 62, had expressed an interest in staying longer, but the Administration apparently believes he lacks the dynamism for the job. The White House wants to nominate another official, possibly Federal Reserve Chairman Paul Volcker...
...presidency of the World Bank is a position that has not received much attention in recent years, but under the Baker plan for dealing with Third World debt, it could take on far greater importance. Accordingly, after A.W. Clausen announced last week that he will step down as head of the global lender, speculation began almost immediately over who might succeed him. The post has traditionally been held by an American, and the opening could lead to an intriguing round-robin job shuffle...
Heading the list of prospective successors to Clausen is Paul Volcker, 58, chairman of the Federal Reserve Board. One enticement: the World Bank presidency pays $175,000 a year, vs. the $75,100 that Volcker now earns. The Fed chairman, whose term does not end until August 1987, refuses to comment on the speculation, and aides deny that he has any interest in running the bank...
President Reagan settled on the $750 million figure in early December, over the objections of Secretary of State George Shultz, who advocated a $950 million annual contribution. Reagan cited congressional reluctance to contribute more than $750 million a year. But his rationale did not mollify World Bank President A.W Clausen, an American. Said he: "I've always believed the President...
...Jackson. David Byrne and Talking Heads. Billy Joel. David Bowie. All of them, and dozens more, reeling and rocking across those eleven screens in a serenade of sensory overload. The place is packed. "We haven't played a record since last June," says the Snuggery's John Clausen, whose video disc jockeys play tapes the way radio deejays spin platters. So rock on, Schaumburg Snuggery. You may be just a secondary target in the great video blitzkrieg-the vidblitz-that has shaken up Hollywood, salvaged the record business and set up a whole new way of responding...