chapter  12
10 Pages

Governmental Relations and Contributions Policies: 1962-1982

The first general opportunity to act on lessons learned, one way or the other, came as the 1964 election campaign approached. The Republican candidate, Barry Goldwater, had condemned strongly Kennedy administration interference with U.S. Steel's pricing decisions. He received support during his campaign from executives of Eli Lilly, Quaker Oats, and a handful of other large companies. But the "National Independent Committee for President Johnson and Senator Humphrey" enlisted 3 thousand CEOs, including Henry Ford II, Thomas Lamont of the Morgan Guaranty Trust, John Loeb of Loeb, Rhoades and Company, Frederick Kappel of AT&cT, Sol Linowitz of Xerox, Kenneth Adams of Philips Petroleum, Ralph Lazarus of Federated Department Stores, and John Connor of Merck and Company, who would become Johnson's Secretary of Commerce.2