Word: powermen
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Dates: during 1930-1939
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...subject of utility holding companies nearly everyone had had his say. Franklin Roosevelt had asked for what practically amounted to their abolition. Powermen and investors had wrung their hands in loud anguish. Senator Wheeler had favorably reported the bill. Secretary Roper's Business Advisory Council had counseled moderation. Senator Norris had lectured the Senate with giant charts showing the tentacles of the power octopus. Young Legalites Corcoran and Cohen, who drafted the bill, had given their advice privily in the cloakrooms. The whole Senate had enjoyed ten days of debate. Wiseacres sensed that 67 proposed amendments would soon...
Certainly President Roosevelt never gave the nation's powermen any false hopes. By word for six years, by deed for two, he has warred on public utilities locally and nationally. That has been the most consistent of the Roosevelt policies. Even so, a thorough reading of the Wheeler-Rayburn bill to abolish public utility holding companies (TIME, Feb. 18) left the industry chilled and dazed. But not for long. Sincerely convinced that the enactment of such stringent legislation would not only wipe out hundreds of millions invested in holding company securities but come very close to wrecking...
...were really a question of propaganda on their part, asked the powermen, what about the rolling barrage laid down by the Federal Trade Commission in its interminable power probe? For months that body has been pouring forth releases which by headlines damned all powermen for the sins of a few like Samuel Insull...
...Powermen feared the worst and they got it. No less than ten holding company heads sprang instanter to the industry's defense in a joint statement: "We do not believe that it is necessary to destroy these companies in order to prevent a recurrence of abuses, many of which have already been corrected. . . . We stand ready to cooperate...
...powermen dared hope that Congress would pull many of the bill's teeth...