Word: warning
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House Speaker Tip O'Neill and the President were involved in a second round of negotiations that concluded last week-not on the budget but on theology. O'Neill phoned Deputy White House Chief of Staff Michael Deaver to warn that the situation was looking grim. Deaver then convinced the President that policy had to be changed. An order went out through Secretary of Defense Caspar Weinberger to Secretary of the Navy John Lehman, who obediently bowed: a Navy attack submarine initially christened Corpus Christi (which means "body of Christ" in Latin) will be renamed, probably City...
Some experts, though, are starting to warn that a paucity of engineers may hold back American economic and technological development. High-tech companies in the Sunbelt and the Northeast seem most concerned. Says William Howard, a vice president of Motorola who is based in Arizona: "The shortage has slowed down our progress, slowed down our development of new processes and slowed down our ability to do maintenance. The net effect is to put things on hold or do them more slowly until we can recruit the talent." A study prepared for California Governor Jerry Brown Jr. showed that the state...
Most economists predict that continued slow inflation will result in some interest-rate relief by summer, but they also warn that the prospect of a 1983 federal budget deficit that could run as high as $180 billion may send the cost of money surging once again by the end of the year. In testimony before Congress last week, Murray Weidenbaum, chairman of the Council of Economic Advisers, urged the lawmakers to reach a compromise with the President that would cut the deficit. That, he said, plus the decline in inflation, would bring down the cost of borrowing...
...threat of an invasion grew, U.S. Ambassador Samuel Lewis went straight to Begin to warn him off. The U.S., he cautioned, saw no reasonable justification for war. A patently unwarranted attack, he said, would isolate Israel in world opinion and further strain the nation's raveled ties to the U.S. Replied Begin: "We shall not allow the spillers of Jewish blood to escape justice." He added that the Cabinet had made "no decision" about an invasion. The U.S. chose to put the best possible interpretation on that carefully hedged assurance. Said one U.S. official: "We take Prime Minister Begin...
Gavin posed some of his most aggressive queries in the newsletters he began producing in the early '70s, nestled in innocuous cloud-balloons in the corners of his whimsical covers drawings: "Does Harvard's treatment of Mr. Schiff's gift warn would-be donors?" The great philanthropist had died bitter and disappointed in 1920 after seeing the University turn its back on his generosity...