Word: hooverisms
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Dates: during 1980-1989
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...Bechtel Group Inc. of San Francisco (1981 billings: $11.4 billion) has probably done more to transform the landscape of America and the world than any other company of this century. Among their many engineering extravaganzas, Bechtel's master builders have helped to design and construct everything from the Hoover Dam and the San Francisco-Oakland Bay Bridge to the trans-Alaska pipeline and the Washington metro subway system...
...operation, when a young German rancher named Warren A. Bechtel decided in 1898 to hire himself out with his mules to help construct a railroad line through Indian territory. The company established its name nationally in 1931 by helping to lead the eight-company consortium that built the Hoover...
Shultz resigned as Treasury Secretary in 1974 to join Bechtel, one of the world's largest construction and engineering conglomerates. He became president the following year. Among its projects: the Hoover Dam, the Washington and San Francisco subway systems, 84 nuclear power plants, and the $20 billion Jubail Project, which is creating a new industrial metropolis in the sands of Saudi Arabia. Among his other duties, Shultz acts as a kind of secretary of state of the privately held, San Francisco-based company under Chairman Stephen Bechtel. His tasks as president of the group include coordinating international projects, articulating...
...more economic aid from the U.S. and freer access to U.S. markets. Says former CIA Director William Colby: "There is nothing terribly new in Americans choosing their European friends over their Latin friends. But Latin Americans will look to their own economic interests first." Says Robert Wesson of the Hoover Institution on War, Revolution and Peace: "There is little to be done but say 'sorry about this' and then go on to increase trade, build a new life, so to speak, after the Falklands...
DIED. Dan Throop Smith, 74, chief tax economist in the Eisenhower Administration, distinguished academician at Harvard and Stanford's Hoover Institution and longtime conservative advocate of tax cuts to boost the economy; of a heart attack; in Palo Alto, Calif. A precursor of supply-side economists, Smith believed "all taxes are repressive," and supported lower capital gains taxes to encourage risk-taking investments. At the same time, he urged reduction of tax incentives for "safe" investments that do not lead to a greater supply of capital for business. His aim: "To make it easier to get rich but harder...