A Time for Reflection by William E. Simon

Author:William E. Simon
Language: eng
Format: epub
Publisher: Regnery Publishing
Published: 2013-02-11T00:00:00+00:00

I’m not sure where my life would have led had I declined President Nixon’s offer and stayed on the comfortable road I was following on Wall Street. But by listening to my instincts, taking a risk, and beginning a new journey on an unknown path, I learned more about life, discovered more about myself, stretched my horizons farther, and savored experiences far richer than I would otherwise have ever known. Some people might call it fate. Some might call it luck.

But I would call it God’s plan.

A TIME FOR TRUTH

After leaving government, I had so many options available—politically and professionally—that I was reluctant to choose any one over any other. I didn’t want to limit my choices, so I was keeping everything on the table just as long as I could.

George Shultz offered me a position with Bechtel Group, an international engineering and construction firm where he was president. That seemed to have potential. Frank Shakespeare, who had been director of the United States Information Agency (and would later become Vatican envoy and chairman of the Heritage Foundation, a conservative think tank), wanted me to join him in a venture to purchase radio stations. That sounded like fun. There were literally scores of other business offers that I was considering. Additionally, political power brokers in New Jersey were floating my name for governor. I thought perhaps a gubernatorial run in 1977 could set the stage for a presidential run in 1980.

But none of those options really excited me, and for a while I just bided my time. Carol and I traveled a bit—India, Brazil, various other destinations—but I was restless and eager to get back to work.

While in Washington, my assets, which were placed in a blind trust (and badly mismanaged), declined sharply and, after four-and-a-half years in the capital, the Simon family “fortune” was half of what it had been and a quarter of what it should have been. It was time to rebuild our nest egg.

My first inclination, of course, was to return to Salomon Brothers, where I had been so very happy and productive. There I had been given the freedom and time to meet my family responsibilities and pursue the extracurricular activities, such as philanthropic endeavors and the Olympic Committee, which rounded out my life. It seemed only natural that I would resume my career with Salomon Brothers, particularly since Billy Salomon was about to pass the baton to a new leader.

Billy had survived his encounter with a benign brain tumor, but the scare had forced him to confront his own mortality. He was planning to retire in 1978, at the age of sixty-four, to spend more time with his lovely wife, Virginia.

There was a question whether John Gutfreund, who had served as managing partner while I was away in Washington, was the logical heir apparent, or whether I, with the prestige of a former cabinet member, was the appropriate successor to Billy Salomon. Billy would not guarantee that I would inherit his mantle the following year.

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