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THE WHITE HOUSE
WASHINGTON
December 19, 1994
MEMORANDUM FOR ERSKINE BOWLES
BILLY WEBSTER
HI hull his On eine wav a Suce no form will
FROM:
Harold Ickes
SUBJECT:
Bernard Schwartz
it
On 29 November 1994 I met with Bernard Schwartz, who is the
Chairman and CEO of Loral Corporation.
He strongly urged that the President focus on the need to rebuild
the infrastructure of the company, schools, roads, etc. He
estimates it will take $16-17 billion a year for needed
investments of that kind and it is something that shows results
quite quickly as well as creating jobs.
He also emphasized that decisions in government take much too
long especially for business people. He has done business with
DOD for many years and says it is much easier to get decisions
from DOD compared to other Federal agencies.
He would like to put together a small group of top level
practical business/financial types such as himself, Felix
Rohatyn, and others for a meeting (preferably a dinner) with the
President to talk over ideas like this and to permit the
President to have more exposure to people outside of the
government.
My understanding is that he is very loyal to the President and
has raised substantial money. In addition, he seemed to be very
knowledgeable and well informed, and I think that we should
consider setting up such a meeting or dinner.
Let's discuss.