Conversation: 466-006
Prev: 466-005 Next: 466-007Start Date: 11-Mar-1971 11:04 AM
End Date: 11-Mar-1971 12:19 PM
Participants:
Nixon, Richard M. (President); Butterfield, Alexander P.; Connally, John B.; [Unknown person(s)]; Sanchez, Manolo;Recording Device: Oval Office
Full Tape Conversation Start Time: 02:31:19
Full Tape Conversation End Time: 03:04:30
NARA Description:
On March 11, 1971, President Richard M. Nixon, Alexander P. Butterfield, John B. Connally, unknown person(s), and Manolo Sanchez met in the Oval Office of the White House at an unknown time between 11:04 am and 12:19 pm. The Oval Office taping system captured this recording, which is known as Conversation 466-006 of the White House Tapes.
Nixon Library Finding Aid:
Conversation No. 466-6
Date: March 11, 1971
Time: Unknown between 11:42 am and 12:19 pm
Location: Oval Office
The President met with Alexander P. Butterfield
President’s schedule
-Gerard C. Smith
-Publicity
-Press
-Photo by White House photographer
-Scope of possible meeting
-Strategic Arms Limitation Talks [SALT]
26
NIXON PRESIDENTIAL MATERIALS STAFF
Tape Subject Log
(rev. 9/08)
-Photo
-President’s meeting with Secretary of Treasury
John B. Connally entered at 11:47 am
Greetings
Smith Conv. No. 466-5 (cont.)
-Forthcoming trip to Vienna
-SALT and European Security Conference
-Job
An unknown person entered at an unknown time after 11:47 am
Refreshment order
The unknown person left at an unknown time before 12:15 pm
Access to President
-Connally
-William P. Rogers
-Melvin R. Laird
-John N. Mitchell
-Connally
-Role of Treasury Department
-Cabinet officers
-President’s time
-Time management
-Connally
-H. R. (“Bob”) Haldeman
Agenda
-Arthur F. Burns
-Lockheed
-DuPont brokerage case
-Money supply
-Burns
DuPont brokerage case
-Mitchell
-Meeting with Connally and H. Ross Perot staffers
27
NIXON PRESIDENTIAL MATERIALS STAFF
Tape Subject Log
(rev. 9/08)
-Mort Meyerson
-Call to Connally
-Mitch Hall
-A board meeting
-Connally’s calls
-Burns
-Mitchell
-Securities and Exchange Commission [SEC] Conv. No. 466-6 (cont.)
-Bruce McClaren of the Treasury Department
-Instructions
-Possible outcome
-New York Stock Exchange
-Board meeting recess
-Mitchell
-Work with SEC
-Possible action by Internal Revenue Service [IRS]
-DuPont family
-Possible outcome
-Perot
-DuPont family
-Possible acquisition
Lockheed
-Need for government decision on loan guarantee
-Connally’s view
-David Packard
-Connally’s meeting with bankers
-Bank of America
-Dan Hoffman
-Bankers Trust
-William H. Moore
-Airlines’ position
-Bankers’ position
-Loan amounts
-Government guarantee
-Possible purchase of engines
-Rolls-Royce
-General Electric
-Pratt and Whitney
-Rolls-Royce
-Costs
28
NIXON PRESIDENTIAL MATERIALS STAFF
Tape Subject Log
(rev. 9/08)
-British position
-Bankers’ view
-Hoffman
-Bankers’ position
-Engine guarantee
-Government guarantee
-British action
-Edward R. G. Heath Conv. No. 466-6 (cont.)
-Future
-Government guarantee or loan
-Importance
-President’s position
-Impact on economy
-President’s position
-Possible Congressional action
-Department of Treasury
-C-5A issue
-Packard’s work at Defense
-Cash position
-Efforts
-Future
-Forthcoming meeting with President
-Need for action
-Congress
-Government loan
-Possible amount
-Reconstruction Finance Corporation [RFC]
-Penn-Central Railroad example
-Possible administration action
-RFC-type agency
-Penn-Central Railroad
-Possible action by banks
-Congressional action
-Possible legislation
-Effect on banks’ decision
-Previous bank loans to Lockheed
-Amounts
-Rolls-Royce
-Airlines
-Cash flow
-Possible action by banks
-Government guarantee
29
NIXON PRESIDENTIAL MATERIALS STAFF
Tape Subject Log
(rev. 9/08)
-President’s position
-Penn-Central Railroad example
-Defense considerations
-C-5A
-Rolls-Royce engines
-Rolls-Royce engines
-General Electric Engines
-RFC-type agency Conv. No. 466-6 (cont.)
-Instructions for Connally and Packard
-Effect of company failure
-Airlines
-Subcontractors
-McDonnell-Douglas
-President’s view
-Connally’s talk with Hoffman
-President’s position
-Possible Congressional action
-Instructions for Connally
-Administration action
-Effect of company failure
-Economy
-Connally’s position
-Call to Hoffman
-Unions and executives’ wages
-Pay reductions
-Effect on US economy
-Administration action
-President’s position
-Possible effects on economy
-Timing
-Coordination
-Defense, Treasury, Transportation Departments and Civil Aeronautics
Board [CAB]
-Possible effects of non-action
-Subcontractors’ losses
-Airlines’ losses
-Banks’ losses
-Tax losses
-Authority
-Connally
-Department of Transportation
30
NIXON PRESIDENTIAL MATERIALS STAFF
Tape Subject Log
(rev. 9/08)
-Possible effects
-Justification for action
-Employment
-Tax losses
-”Buy American”
-Authority for action
-Defense Department
-C-5A Conv. No. 466-6 (cont.)
-Transportation Department
-Involvement
-CAB
-Treasury Department
-Defense Department
-Funding
-John D. Ehrlichman’s staff
-Armed Services Committee
-Treasury Department
-Defense Department
-Contrasts
-Packard
-Peter M. Flanigan
-Connally’s role
-Flanigan
-Domestic Council and Defense Department
-Flanigan
-Forthcoming call from President
-Connally’s role
-Packard
-Possible call from President
-President’s schedule
-Williamsburg
-March 12, 1971
-Call from Connally
Connally’s schedule
-Breakfast with [Name unintelligible]
Manolo Sanchez entered at an unknown time after 11:47 am
President’s schedule
-Lunch
31
NIXON PRESIDENTIAL MATERIALS STAFF
Tape Subject Log
(rev. 9/08)
Sanchez left and Butterfield entered at 12:15 pm
President’s schedule
-Smith photograph
-Henry A. Kissinger
-Connally meeting
Butterfield left at 12:18 pm Conv. No. 466-6 (cont.)
Connally left at 12:19 pm