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On each civil rights vote, he would use the minimum number of westerners necessary to accomplish his purposes, not requiring the others to vote with the South. But the fundamental nature of the deal is what Johnson said it was—in return for southern votes for Hells Canyon, “I got the western liberals to back the southerners” on civil rights. While,
... See moreRobert A. Caro • Master of the Senate: The Years of Lyndon Johnson III
With approval from a dozen different bureaus required for each contract, contracts from other districts might be stalled for months. Johnson would show up at each bureau—and contracts from the Fourteenth District were approved and back in the mail within days. In a White House ceremony on July 28, 1933, President Roosevelt presented the first AAA c
... See moreRobert A. Caro • The Path to Power: The Years of Lyndon Johnson I
Men would have to make sacrifices for the sake of the system: acknowledging that some present employees would not score high enough on his tests for the jobs they held, he had a simple solution—such employees would have to accept demotions and pay cuts. Unnecessary employees, he said, would have to be “eliminated.”
Robert A. Caro • The Power Broker
“In a sense, Waterman was the first LBO,” Wriston recalled.20 McLean’s prize was a formerly debt-free company whose bank loans and ship mortgages soared to $22.6 million at the end of 1955, nearly ten times its $2.3 million of after-tax income. In a step that set the norm for future leveraged buyouts, McLean disposed of unwanted Waterman assets to
... See moreMarc Levinson • The Box: How the Shipping Container Made the World Smaller and the World Economy Bigger - Second Edition with a new chapter by the author
But, buried within the lines of convoluted legalisms, the amendment also contained an innocuous phrase—concealed, as was the custom of the man who had been the best bill drafter in Albany, at the end of a long sentence whose other clauses all purportedly limited his powers—allowing the Coordinator to “represent the city in its relations with cooper
... See moreRobert A. Caro • The Power Broker
underestimated the man's psychopathic reaction to dissent. In my own case, I have played the game. I have learned not to debate with him. Not to argue, but to compliment and flatter him. We have learned that we must tell him he is right even though he is wrong in order to survive. Lucas is a classic godfather mentality who corrupts the merit promot
... See moreAllan J. McDonald • Truth, Lies, and O-Rings: Inside the Space Shuttle Challenger Disaster
If a man wasn’t making what Moses thought he should be, he would put the man’s wife on the payroll in some job that required no work—such as answering the telephone in their home—and pay her an additional stipend.
Robert A. Caro • The Power Broker
Because campaign contributions were not a deductible business expense, Brown & Root distributed to company executives and lawyers hundreds of thousands of dollars in deductible “bonuses” and “attorneys’ fees,” which Internal Revenue Service agents came to believe were then funneled, in both checks and cash, to the Johnson campaign—contributions
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