Word: forde
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...deregulation revolution began under Presidents Ford and Carter, but the Reagan Administration embraced the idea with energetic zeal. Hack, chop, crunch! were the sounds during the early 1980s as Reagan's regulatory appointees stripped away decades' worth of business restraints like so much prickly underbrush on the President's ranch. The expense of complying with federal regulations, Reagan claimed, had cost Americans between $50 billion and $150 billion a year. After only ten days in office, he put a freeze on more than 170 pending regulations. A drastic pullback of Government involvement in business followed, especially in federal attempts...
Whatever change is taking place, it seemed to be accelerating last week. Ford, which has manufactured cars in South Africa for 63 years, hopes to donate most of its holdings to its predominantly black work force. ITT sold off its small automobile-brake plant. Citicorp, the lone American bank left in South Africa, will sell its 29-year-old subsidiary to First National, the country's largest commercial bank...
Rarest of all are the deals in which the companies have sold to blacks. Coca-Cola was the first American firm to do so; in March 8,500 of its wholesalers and retailers, 60% of whom are nonwhite, bought one-third of Coke's South African subsidiary. Ford's proposed sell-off could be another such case. The carmaker is negotiating with its employees to put its interests into a trust that represents the company's 4,500 workers, 70% of whom are black...
...were out of office, they still formed quite a data bank. Melvin Laird had been Richard Nixon's Secretary of Defense and John Vessey the Chairman of Ronald Reagan's Joint Chiefs. James Schlesinger had run the CIA for Nixon and then the Defense Department for Nixon and Gerald Ford. Richard Helms had spent his career as one of the nation's top spooks. Together they were on two study missions to investigate the security breaches in the old and new American embassies...
Americans are flocking back to Europe. -- Citicorp, Ford and ITT join the exodus from South Africa. -- The Toshiba scandal grows...