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...most powerful figures are grabbing for the sweeping economic policymaking authority once wielded by departing Treasury Secretary George Shultz. The contenders are Roy Ash, 55, once president of Litton Industries, now director of the Office of Management and Budget, and William E. Simon, 46, a former Wall Street bond trader, now federal energy czar. Simon is on the verge of winning an early round: President Nixon this week is expected to name him to succeed Shultz at Treasury, a job that apparently Ash wanted. But neither man is likely to get Shultz's other titles of Economic Counsellor...
Other clubs weren't so lucky as the Pirates or the Mets over the winter. That old horse-trader Gene Mauch will probably wish he never picked up the phone during the off-season. The Montreal skipper dealt away his whole franchise (with the exception of super-star Ken Singleton) when he sent Mike Marshall to the Dodgers for Willie Davis. While Walt Alston is busy smacking his lips, Mauch will have to depend on a staff that makes even Atlanta's hurlers look good, and that's bad news for die-hard Expo fans...
Collaborating with Iker on that last-minute effort was Associate Editor George J. Church, a TIME Business writer since 1969 who wrote this week's cover story with the help of Reporter-Researchers Bonita Siverd and Gail Perlick. Like former Bond Trader William Simon, Church got his start on Wall Street, first as a correspondent and later as a front-page editor for the Wall Street Journal (which is singled out in this week's Press section as one of the ten best newspapers in America). No skeptic about the reality of the energy crunch, Church...
That cynicism immensely complicates the job of Washington's latest whirlwind, William E. (for Edward) Simon, chief of the new Federal Energy Office. A bond trader who was unknown outside Wall Street in late 1972, a modestly publicized No. 2 man at the Treasury as recently as last November, the 46-year-old Simon in the past month has become one of the most powerful and visible figures in a Government starved for leadership. Now he is putting his credibility on the line almost daily to declare, in press release after news conference after TV interview, that the shortage...
Another vital change is the substitution of Simon's driving administrative approach for the slow, cautious methods of his predecessor as energy czar, former Colorado Governor John A. Love. On Wall Street, Simon throve as a bond trader who regularly had to make quick decisions on deals involving many millions of dollars, with painful penalties for failure. A long-hours man who regularly lunches at his desk (on enormous delicatessen sandwiches), Simon does not believe in large formal meetings that seek to form a consensus among those attending. He prefers to get information and advice from close aides...