Word: thornburg
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...THORNBURG...
...fund of maneuver," Zorlu first went to the International Bank. The bank said it could advance no more funds unless the Turks drastically overhauled their policy and established their financial solvency. Menderes next called in an old friend, Max Thornburg, a rich, retired U.S. oil executive of 63 who lives on his own island in the Persian Gulf and devotes much of his time and widely admitted talents to helping Middle Eastern governments with their economic planning. Thornburg told Menderes that 1) he was rushing ahead too fast with his industrial-development program; 2) there was so little overall planning...
...Thornburg's recommendations apparently went to roost in an Ankara pigeonhole, and Diplomat Zorlu turned to the U.S. for $300 million. Zorlu's argument was spare and simple: surely the U.S. would not let a stout ally down in its hour of need. Some Washington officials used the word "blackmail...
...this stout performance merely made it harder for U.S. officials to give their answer when Zorlu arrived in Washington last summer and formally held out his hand. The State Department had come generally to the same conclusions as Max Thornburg, was, if anything, more certain that Turkey's present course leads to bankruptcy. Additional U.S. millions, Zorlu was told, would merely stay the day, and Turkey would be back in a matter of months for more. When U.S. Treasury Secretary George Humphrey went to Turkey last month for the World Bank meeting, he put the U.S. position directly...
...Best from Gano. The anniversary dinner (sirloin steak, champagne) was no stuffy testimonial, but a newspaperman's blend of horseplay and affection. Toastmaster Dick Thornburg, editor of the Cincinnati Post, struck the keynote by calling Howard "the greatest newspaperman ever to come out of Gano, Ohio, population...