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OCR Page 1 of 58THE
PRESIDENT
PEPSICO
INC.
by
PURCHASE, N.Y. 10577
TEL. (914) 253-3000
Dear
DONALD M. KENDALL
CHAIRMAN,
CHIEF EXECUTIVE OFFICER
your Ron- etc make sense
quest dealy that our
a you will All September 17, 1971
policies will reflect
The President
The White House
Washington, D.C. 20500
a severd q your
Dear Mr. President:
Sufficient time has elapsed following the initial announcement
on your new economic policy where I now believe the conclusion
can be reached that it is definitely an unqualified success.
I feel, however, that it is most essential that a new program
be developed that continues some sort of control after the
ninety-day period. As you well know, I am basically against
any type of controls and normally believe in the free market
place. However, since it was necessary to put on controls, I
feel that you must continue with them in some form to make
certain that the original goals are achieved. Otherwise, the
opposition will have a specific campaign issue for 1972.
I believe the said controls should be very simple and not
require a large bureaucracy to administer them. I recommend
the following thoughts for your consideration:
1. Wages - We should have a law providing for mandatory,
a
binding arbitration if labor and management cannot agree,
A
three-man board should be established. If management and labor
cannot reach agreement, this board should be required to render
a binding decision, within a two-week period, so that production
is never interrupted.
The three-man board should be constituted of individuals who are
highly qualified, and not merely selected because they represent
the business community or labor.
2. Prices - I believe you should only have controls on the key
2)
industries that obviously have the most impact on the economy.
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