Word: connore
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...John Connor, the Commerce Secretary, left the presidency of Merck & Co. to find himself suddenly doctoring the nation's money ailments. He uses his chummy ties with the nation's top businessmen to persuade them to restrict foreign investing, last week received the first reports from 623 corporate chiefs on what they are doing to retrench. White House aides grumble that he has stolen too much of the spotlight in the payments-balancing act, and that he too vigorously defends the business establishment. Unlike the last several Commerce Secretaries, Connor has become a major adviser to the President...
...money team has its weaknesses, of course, but it is versatile and well balanced. Johnson will rely on Joe Fowler and Jack Connor to sell his policies to the nation's businessmen, Bill Martin and Fred Deming to deal with the international moneymen, and Ackley to pick the brains of the nation's economists. In the coming skirmishes over money policy, these few men are destined to wield more and more power...
Reaction from the Boston School committee to the 140-page report was shift and highly negative. Mrs. Louise Hicks, the chairman, said yesterday that she was "appalled" at the idea students to achieve racial balance. She and her colleague, committeeman William O'Connor, urged a public referendum to resolve the issue...
Washington is willing to bend, but only a bit. Commerce Secretary John Connor said last week that U.S. businessmen may lend and invest freely in the underdeveloped nations. The U.S. is in no mood to relax its restrictions on the 22 "developed" nations-including all of Europe as well as Japan and Australia-because it is continuing to lose gold. The nation's gold supply dropped another $250 million last week, bringing the year's loss up to $825 million and the stock at Fort Knox down to a 27-year low of $14.6 billion...
Public Burden. Washington's solution, of course, is the program to induce businessmen to cut back their profitable foreign lending and investing. Last week Commerce Secretary John T. Connor said that he had enough "assurances" from corporate chiefs to persuade him that the program will succeed. While businessmen have gone along with the President's plan, a number of them point out that the payments gap is caused neither by trade, which brought in a $6.7 billion payments surplus last year, nor by private investment, which was nearly offset by profits brought back home. The main burden...