Word: man
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Dates: during 1970-1979
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Despite his brobdingnagian frame (6 ft. 7 in., 240 lbs.), his ever present cigar and his gravelly bass voice, Paul Volcker is a man who likes to keep a low profile, to perform his financial wizardry as a bureaucratic technician rather than as a public figure. But such behind-the-scenes machinations have their frustrations. One night, after an International Monetary Fund meeting in Copenhagen, Volcker was so exasperated with his colleagues that he strode down to the Tivoli Gardens and proceeded to throw wooden balls in a booth full of china plates until he had smashed away his tension...
Volcker is the only man in history who has officially devalued the U.S. dollar twice. As Under Secretary of the Treasury, he was the technician who hopped from chair to chair around the table negotiating various devaluation figures with the delegates to a 1971 currency conference in Washington. And in 1973 he secretly shuttled among the main industrial nations themselves, flying 31,000 miles in five days, losing his hat in Tokyo and exhausting his supply of cheap cigars and clean shirts before returning with an agreement...
...testy Senate Banking Committee Chairman William Proxmire: "The President has shown outstanding judgment. His appointment will be praised by Congress, by participants in domestic financial markets and by the international monetary community." Added the Brookings Institution's Robert Solomon: "The President couldn't have found a better man." The stock market shot up, bond prices improved, and, despite Carter's lack of new programs to support the dollar, it temporarily recovered slightly on overseas markets, mainly on the basis of Volcker's reputation as a conservative defender of the dollar...
When Hedley Donovan retired as editor-in-chief of Time Inc. publications at the end of May, he opened up what he called his "portfolio of interests"-a file fat enough to occupy any energetic man full time. He planned to teach a course at Harvard on the press and politics, write a book about his 40-year career as a journalist, consult two or three days a week on various Time Inc. projects, serve on the boards of the Washington Star, Merrill Lynch & Co. Inc., and the Ford Foundation, among others...
...tall (6 ft. 1 in.), handsome man who speaks slowly in a deep voice, Donovan applied so even an editorial hand at Time Inc. that his former editors had to ask him last week just what his party politics were. His reply: "Independent with conservative leanings." In the last election he voted for Carter...