Word: millers
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Dates: during 1970-1979
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Brown revealed his new strategy in a series of controversial appointments. In July he named Edison Miller, a former P.O.W. in Viet Nam, to the Orange County board of supervisors. Miller had been formally censured by the Navy Department after an investigation into charges that he had collaborated with the North Vietnamese. But he was recommended by Fonda, who met him when she was broadcasting anti-American messages from Hanoi during the war. She also served as matron of honor at Miller's recent second marriage; Hayden was best...
...this week's cover story, Taber spoke with Harvard's Martin Feldstein and other members of this new group of "incentive economists" and with such top economic policymakers as Treasury Secretary G. William Miller and Presidential Adviser Charles Schultze. Says Taber: "I was surprised to find that officials who often begrudge 15 minutes to discuss current policy would happily sit back for an hour and theorize about what has gone wrong with the economy and why." Until recently, Taber notes, the average American had little familiarity with that topic. Says...
...first public act at the Treasury, Miller spelled out the ideological ground rules of federal aid and warned other troubled companies against expecting similar help. Such assistance, he said, "is neither desirable nor appropriate, being contrary to the principle of free enterprise." But Chrysler was an unusual exception, he added, in which the Administration "recognizes that there is a public interest in sustaining [its] jobs and maintaining a strong and competitive national automotive industry...
...Government rejected Chrysler's plea that it receive aid in the form of either federal tax refunds or immediate relief from having to meet the costly safety, environment and mileage standards on new cars. Miller said the former idea would amount to an "interest-free, unsecured cash advance from taxpayers' funds." Instead, he recommended Government loan guarantees that will have to be approved by Congress and will "total considerably less than $1 billion...
...managers, said Miller, must draw up "an acceptable financial and operating plan" for dealing with the company's short-and long-term problems as well as spelling out its cash needs. This strategy will have to include sacrifices by everybody with an interest in saving the company: management, stockholders, employees, bankers and suppliers. Only such an effort can ease the Chrysler crisis. The long troubled company lost $204.6 million last year but topped that in this year's second quarter alone, when it ran $207.1 million in the red. Faced with the possibility of a shattering loss...