466–6

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]
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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
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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
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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
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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
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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
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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