Word: tobacco
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Dates: during 1980-1989
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...says Bailey, "thought the sun rose and set right behind Jesse's left ear." WRAL, that hymn-and-hog-price 250-watter, was now Capitol Broadcasting, an empire embracing the radio outlet, Raleigh's first TV station and a hookup of about 70 rural stations called the Tobacco Radio Network. Fletcher piled three executive titles on Helms and let him do the station's editorials...
Helms' transcripts are packed with hyperbole and meanspiritedness. Yet, perhaps because this was television, he never crossed the line into ugliness or outright racism?as some Tobacco Network listeners seem to remember he did in his early radio talks (of which no transcripts are known to exist). "There is no question about his having been a segregationist," says one old Raleigh newspaper hand. "And he says he hasn't changed his views on segregation." Tom Ellis, 61, a Raleigh lawyer and Helms' most powerful political sponsor, defends his man. "He hates the K.K.K. and those people. Is that what racism...
Only when it comes to tobacco has Helms behaved with ordinary congressional pragmatism. The several federal tobacco programs amount to one of the most thoroughgoing intrusions of Government into the agricultural marketplace. Helms, the ferocious free-marketeer, nonetheless strives to perpetuate it. But even in serving that home-state interest (North Carolina produces 40% of the U.S. crop), he has not been altogether successful. As the new chairman of the Agriculture Committee, Helms insisted on a farm bill that would cut food stamps drastically. But his fellow Republicans on the panel, who knew the reductions would draw fierce Senate opposition...
...that he isn't loyal to the tobacco cause. Helms smokes (but does not always inhale) an occasional Lucky Strike. When others light up in his presence, he says, " 'Predate it." Indeed, Helms' single flamboyance is a maniacal Southern courtesy: he grabs every serving spoon, offers to carry every bag and sheaf in sight and opens every door. In fact, he does not just open a door; he sweeps his beneficiary through with a bow and a flourish...
Moreover, the two companies were very complementary. Phibro reaped profits of $467 million last year by trading in about 150 commodities ranging from tobacco and cocoa to zirconium and Peruvian bird droppings. It now wanted to offer new financial services like raising investment capital for its trading clients. The 71-year-old Salomon Bros., on the other hand, wished to expand its operations beyond traditional bond trading and corporate underwriting. Strategic metals, grains and other commodities, after all, have in recent years been some of the best investments around...