George Pratt Shultz (/ʃʊlts/; born December 13, 1920) is an American economist, elder statesman, and businessman. He served in various positions under three different Republican presidents. Along with Elliot Richardson, he is one of two individuals to serve in four different Cabinet positions. He played a major policy role in shaping the foreign policy of the Ronald Reagan administration. In the 2010s, Shultz was a prominent figure in the scandal around biotech firm Theranos, continuing to support it as a board member in the face of mounting evidence of fraud.
Born in New York City, he graduated from Princeton University before serving in the United States Marine Corps during World War II. After the war, Shultz earned a PhD in industrial economics from the Massachusetts Institute of Technology (MIT). He taught at MIT from 1948 to 1957, taking a leave of absence in 1955 to take a position on President Dwight D. Eisenhower's Council of Economic Advisers. After serving as dean of the University of Chicago Graduate School of Business, he accepted President Richard Nixon's appointment as United States Secretary of Labor. In that position, he imposed the Philadelphia Plan on construction contractors who refused to accept black members, marking the first use of racial quotas by the federal government. In 1970, he became the first director of the Office of Management and Budget, and he served in that position until his appointment as United States Secretary of the Treasury in 1972. In that role, Shultz supported the Nixon shock (which sought to revive the ailing economy in part by abolishing the gold standard) and presided over the end of the Bretton Woods system.
Shultz left the Nixon administration in 1974 to become an executive at Bechtel. After becoming president and director of that company, he accepted President Ronald Reagan's offer to serve as United States Secretary of State. He held that office from 1982 to 1989. Shultz pushed for Reagan to establish relations with Soviet leader Mikhail Gorbachev, which led to a thaw between the United States and the Soviet Union. He opposed the U.S. aid to rebels trying to overthrow the Sandinistas using funds from an illegal sale of weapons to Iran that led to the Iran–Contra affair.
Shultz retired from public office in 1989 but remained active in business and politics. He served as an informal adviser to George W. Bush and helped formulate the Bush Doctrine of preemptive war. He served on the Global Commission on Drug Policy, California Governor Arnold Schwarzenegger's Economic Recovery Council, and on the boards of Bechtel and the Charles Schwab Corporation. Since 2013, he has repeatedly advocated for a revenue-neutral carbon tax as the most economically sound means of mitigating anthropogenic climate change. He is a member of the Hoover Institution, the Institute for International Economics, the Washington Institute for Near East Policy, and other groups. Since the death of William Thaddeus Coleman Jr., Shultz is the oldest living former U.S. Cabinet member.
|60th United States Secretary of State|
July 16, 1982 – January 20, 1989
|Deputy||Walter J. Stoessel Jr.|
Kenneth W. Dam
John C. Whitehead
|Preceded by||Alexander Haig|
|Succeeded by||James Baker|
|62nd United States Secretary of the Treasury|
June 12, 1972 – May 8, 1974
|Preceded by||John Connally|
|Succeeded by||William E. Simon|
|Director of the |
Office of Management and Budget
July 1, 1970 – June 11, 1972
|Preceded by||Bob Mayo |
(Bureau of the Budget)
|Succeeded by||Caspar Weinberger|
|11th United States Secretary of Labor|
January 22, 1969 – July 1, 1970
|Preceded by||W. Willard Wirtz|
|Succeeded by||James Day Hodgson|
George Pratt Shultz
December 13, 1920
New York City, New York, U.S.
(m. 1946; died 1995)
Charlotte Mailliard (m. 1997)
|Education||Princeton University (BA)|
Massachusetts Institute of Technology (MA, PhD)
|Branch/service||United States Marine Corps|
|Years of service||1942–1945|
Shultz was born December 13, 1920, in New York City, the only child of Margaret Lennox (née Pratt) and Birl Earl Shultz, and grew up in Englewood, New Jersey. His great-grandfather was an immigrant from Germany who arrived in the United States in the middle of the 19th century. Contrary to common assumption, Shultz is not a member of the Pratt family associated with John D. Rockefeller and the Standard Oil Trust.
After attending the local public school, he transferred to the Engelwood School for Boys (now Dwight-Englewood School), through his second year of high school. In 1938, Shultz graduated from the elite private preparatory boarding high school, Loomis Chaffee School in Windsor, Connecticut. He earned a bachelor's degree, cum laude, at Princeton University, New Jersey, in economics with a minor in public and international affairs. His senior thesis examined the Tennessee Valley Authority's effect on local agriculture, for which he conducted on-site research. He graduated with honors in 1942.
From 1942 to 1945, Shultz was on active duty in the U.S. Marine Corps. He was an artillery officer, attaining the rank of captain. He was detached to the U.S. Army 81st Infantry Division during the Battle of Angaur (Battle of Peleliu).
In 1949, Shultz earned a Ph.D. in industrial economics from the Massachusetts Institute of Technology. From 1948 to 1957, he taught in the MIT Department of Economics and the MIT Sloan School of Management, with a leave of absence in 1955 to serve on President Dwight Eisenhower's Council of Economic Advisers as a Senior Staff Economist. In 1957, Shultz left MIT and joined the University of Chicago Graduate School of Business as a professor of industrial relations, and he served as the Graduate School of Business Dean from 1962 to 1968. During his time in Chicago, he was influenced by Nobel Laureates Milton Friedman and George Stigler, who reinforced Shultz's view of the importance of a free-market economy. He left the University of Chicago to serve for President Richard Nixon in 1969.
Shultz was President Richard Nixon's Secretary of Labor from 1969 to 1970. He soon faced the crisis of the Longshoremen's Union strike. The Lyndon B. Johnson Administration had delayed it with a Taft Hartley injunction that expired, and the press pressed him to describe his approach. He applied the theory he had developed in academia: he let the parties work it out, which they did quickly. He imposed the Philadelphia Plan requiring Pennsylvania construction unions, which refused to accept black members, to admit a certain number of blacks by an enforced deadline. This marked the first use of racial quotas in the federal government.
Shultz was Nixon's unofficial ambassador to the AFL-CIO.
Shultz was United States Secretary of the Treasury from June 1972 to May 1974. During his tenure, he was concerned with two major issues: the continuing domestic administration of Nixon's "New Economic Policy," begun under Secretary John Connally (Shultz privately opposed its three elements), and a renewed dollar crisis that broke out in February 1973.
Domestically Shultz enacted the next phase of the NEP: lifting price controls begun in 1971. This phase was a failure, resulting in high inflation, and price freezes were reestablished five months later.
Meanwhile, Shultz's attention was increasingly diverted from the domestic economy to the international arena. In 1973 he participated in an international monetary conference in Paris that grew out of the 1971 decision to abolish the gold standard, a decision Shultz and Paul Volcker had supported (see Nixon Shock). The conference formally abolished the Bretton Woods system, causing all currencies to float. During this period Shultz co-founded the "Library Group," which became the G7. Shultz resigned shortly before Nixon to return to private life.
Under Shultz's leadership, Bechtel received contracts for many large construction projects including from Saudi Arabia. In the year before he left Bechtel, the company reported a 50% increase in revenue.
On July 16, 1982, Shultz was appointed by President Ronald Reagan as the 60th U.S. Secretary of State, replacing Alexander Haig, who had resigned. Shultz served for six and a half years, the longest tenure since Dean Rusk's. The possibility of a conflict of interest in his position as secretary of state after being in the upper management of the Bechtel Group was raised by several senators during his confirmation hearings. Shultz briefly lost his temper in response to some questions on the subject but was nevertheless unanimously confirmed by the Senate.
Shultz relied primarily on the Foreign Service to formulate and implement Reagan's foreign policy. By the summer of 1985, Shultz had personally selected most of the department's senior officials, emphasizing professional over political credentials in the process. The Foreign Service responded in kind by giving Shultz its "complete support," making him the most popular secretary since Dean Acheson. Shultz's success came from not only the respect he earned from the bureaucracy but the strong relationship he forged with Reagan, who trusted him completely.
Shultz inherited negotiations with China over Taiwan from his predecessor. Under the terms of the Taiwan Relations Act, the United States was obligated to assist in Taiwan's defense, which included the sale of arms. The Administration debate on Taiwan, especially over the sale of military aircraft, resulted in a crisis in relations with China, which was alleviated only in August 1982, when, after months of arduous negotiations, the United States and China issued a joint communiqué on Taiwan in which the United States agreed to limit arms sales and China agreed to seek a "peaceful solution."
By the summer of 1982, relations were strained not only between Washington and Moscow but also between Washington and key capitals in Western Europe. In response to the imposition of martial law in Poland the previous December, the Reagan administration had imposed sanctions on a pipeline between West Germany and the Soviet Union. European leaders vigorously protested sanctions that damaged their interests but not U.S. interests in grain sales to the Soviet Union. Shultz resolved this "poisonous problem" in December 1982, when the United States agreed to abandon sanctions against the pipeline and the Europeans agreed to adopt stricter controls on strategic trade with the Soviets.
A more controversial issue was the NATO Ministers' 1979 "dual track" decision: if the Soviets refused to remove their SS-20 medium range ballistic missiles within four years, then the Allies would deploy a countervailing force of cruise and Pershing II missiles in Western Europe. When negotiations on these intermediate nuclear forces (INF) stalled, 1983 became a year of protest. Shultz and other Western leaders worked hard to maintain allied unity amidst popular anti-nuclear demonstrations in Europe and United States. In spite of Western protests and Soviet propaganda, the allies began deployment of the missiles as scheduled in November 1983.
US-Soviet tensions were raised by the announcement in March 1983 of the Strategic Defense Initiative, and exacerbated by the Soviet shoot-down of Korean Air Lines Flight 007 near Moneron Island on September 1. Tensions reached a height with the Able Archer 83 exercises in November 1983, during which the Soviets feared a pre-emptive American attack.
When President Mikhail Gorbachev of Russia came to power in 1985, Shultz advocated that Reagan pursue a personal dialogue with him. Reagan gradually changed his perception of Gorbachev's strategic intentions in 1987, when the two leaders signed the Intermediate Range Nuclear Forces Treaty. The treaty, which eliminated an entire class of missiles in Europe, was a milestone in the history of the Cold War. Although Gorbachev took the initiative, Reagan was well prepared by the State Department to negotiate.
Two more events in 1988 persuaded Shultz that Soviet intentions were changing. First, the Soviet Union's initial withdrawal from Afghanistan indicated that the Brezhnev Doctrine was dead. "If the Soviets left Afghanistan, the Brezhnev Doctrine would be breached, and the principle of 'never letting go' would be violated," Shultz reasoned. The second event, according to Keren Yarhi-Milo of Princeton University, happened during the 19th Communist Party Conference, "at which Gorbachev proposed major domestic reforms such as the establishment of competitive elections with secret ballots; term limits for elected officials; separation of powers with an independent judiciary; and provisions for freedom of speech, assembly, conscience, and the press." The proposals indicated that Gorbachev was making revolutionary and irreversible changes.
In response to the escalating violence of the Lebanese civil war, Reagan sent a Marine contingent to protect the Palestinian refugee camps and support the Lebanese Government. The October 1983 bombing of the Marine barracks in Beirut killed 241 U.S. servicemen, after which the deployment came to an ignominious end. Shultz subsequently negotiated an agreement between Israel and Lebanon and convinced Israel to begin partial withdrawal of its troops in January 1985 despite Lebanon's contravention of the settlement.
During the First Intifada (see Arab–Israeli conflict), Shultz "proposed ... an international convention in April 1988 ... on an interim autonomy agreement for the West Bank and Gaza Strip, to be implemented as of October for a three-year period". By December 1988, after six months of shuttle diplomacy, Shultz had established a diplomatic dialogue with the Palestine Liberation Organization, which was picked up by the next Administration.
Shultz was well known for outspoken opposition to the "arms for hostages" scandal that would eventually become known as the Iran-Contra Affair. In 1983 testimony before Congress, he said that the Sandinista government in Nicaragua was "a cancer in our own land mass" that must be "cut out". He was also opposed to any negotiation with the government of Daniel Ortega: "Negotiations are a euphemism for capitulation if the shadow of power is not cast across the bargaining table."
After leaving public office, Shultz became the first prominent Republican to call for the legalization of recreational drugs. He went on to add his signature to an advertisement, published in The New York Times on June 8, 1998, headlined "We believe the global war on drugs is now causing more harm than drug abuse itself." In 2011, he was part of the Global Commission on Drug Policy, which called for a public health and harm reduction approach towards drug use, alongside other luminaries such as Kofi Annan, Paul Volcker, and George Papandreou.
Shultz was an early advocate of the presidential candidacy of George W. Bush, whose father, George H. W. Bush, was Reagan's vice president. In April 1998, Shultz hosted a meeting at which George W. Bush discussed his views with policy experts including Michael Boskin, John Taylor and Condoleezza Rice, who were evaluating possible Republican candidates to run for president in 2000. At the end of the meeting, the group felt they could support Bush's candidacy, and Shultz encouraged him to enter the race.
He then served as an advisor for Bush's presidential campaign during the 2000 election and a senior member of the "Vulcans", a group of policy mentors for Bush that also included Rice, Dick Cheney, and Paul Wolfowitz. One of his most senior advisors and confidants was former ambassador Charles Hill. Shultz has been called the father of the "Bush Doctrine" because of his advocacy of preventive war. He generally defended the Bush administration's foreign policy. He also occasionally advised Bush and his administration, such as in a January 2006 meeting at the White House of former Secretaries of Defense and State to discuss United States foreign policy with Bush administration officials.
In 2005, Shultz spoke out against the Cuban embargo, calling the policy "insane". He argued that free trade would help bring down Fidel Castro's regime and that the embargo led only to continued repression.
In 2003, Shultz served as co-chair (along with Warren Buffett) of California's Economic Recovery Council, an advisory group to the campaign of California gubernatorial candidate Arnold Schwarzenegger.
On January 15, 2008, Shultz co-authored (with William Perry, Henry Kissinger and Sam Nunn) an opinion paper in The Wall Street Journal that called on governments to embrace the vision of a world free of nuclear weapons. The four have created the Nuclear Security Project to advance this agenda. Nunn reinforced that agenda during a speech at the Harvard Kennedy School on October 21, 2008, saying, "I'm much more concerned about a terrorist without a return address that cannot be deterred than I am about deliberate war between nuclear powers. You can't deter a group who is willing to commit suicide. We are in a different era. You have to understand the world has changed." In 2010, the four were featured in the documentary film Nuclear Tipping Point, which discussed their agenda.
On January 11, 2011, Shultz wrote a letter to President Barack Obama urging him to pardon Jonathan Pollard. He stated, "I am impressed that the people who are best informed about the classified material Pollard passed to Israel, former CIA Director James Woolsey and former Chairman of the Senate Intelligence Committee Dennis DeConcini, favor his release".
Shultz favors a revenue-neutral carbon tax as the most economically efficient means of mitigating anthropogenic climate change. In April 2013, he co-wrote, with economist Gary Becker, an opinion article in the Wall Street Journal that concluded that "a revenue-neutral carbon tax would benefit all Americans by eliminating the need for costly energy subsidies while promoting a level playing field for energy producers." He repeated this call in a September 2014 talk at MIT. In March 2015, Shultz wrote in The Washington Post that he recommended "level[ing] the playing field for competing sources of energy so that costs imposed on the community are borne by the sources of energy that create them, most particularly carbon dioxide," and doing so through a carbon tax that is "revenue-neutral, returning all net funds generated to the taxpayers so that no fiscal drag results and the revenue would not be available for politicians to spend on pet projects." In 2017, Shultz cofounded the Climate Leadership Council, along with Reagan Secretary of State James Baker and George W. Bush Secretary of the Treasury Henry Paulson. In 2017, this group of "Republican elder statesmen" proposed that conservatives embrace a fee and dividend form of carbon tax (in which all revenue generated by the tax is rebated to the populace in the form of lump-sum dividends), as a policy to deal with anthropogenic climate change. The group also included Martin S. Feldstein and N. Gregory Mankiw.
From 2011 to 2015 Shultz was a member of the board of directors of Theranos, a health technology company that became known for its false claims to have devised revolutionary blood tests. He was a prominent figure in the ensuing scandal. After joining the company's board in November 2011, he recruited other luminaries, including former secretary of state Henry Kissinger, former secretary of defense William Perry, and former U.S. Senator Sam Nunn. Shultz also promoted Theranos founder Elizabeth Holmes at major forums, including Stanford University's Institute for Economic Policy Research (SIEPR), and was on record supporting her in major media publications. This helped Holmes in her efforts to raise money from investors.
Shultz's grandson, Tyler Shultz, joined Theranos in September 2013 after graduating from Stanford University with a degree in mechanical engineering. He was forced to leave the company in 2014 after raising concerns about its testing practices with Holmes and his grandfather. George Shultz did not believe Tyler's warnings, pressured him to keep quiet, and continued to advocate for Holmes and Theranos. When media reports exposed controversial practices there in 2015, George Shultz moved to Theranos's board of counselors. Theranos was shut down on September 4, 2018. In a media statement, Shultz praised his grandson for not having shrunk "from what he saw as his responsibility to the truth and patient safety, even when he felt personally threatened and believed that I had placed allegiance to the company over allegiance to higher values and our family. ... Tyler navigated a very complex situation in ways that made me proud."
Shultz is the chairman of JPMorgan Chase's international advisory council and an honorary director of the Institute for International Economics. He is a member of the Hoover Institution at Stanford University, the Washington Institute for Near East Policy (WINEP) board of advisors, the New Atlantic Initiative, the prestigious Mandalay Camp at the Bohemian Grove, the Committee for the Liberation of Iraq, and the Committee on the Present Danger. He serves as an advisory board member for the Partnership for a Secure America and Citizens' Climate Lobby. He is honorary chairman of the Israel Democracy Institute. Shultz is an advisory board member of Spirit of America, a 501(c)(3) organization that supports the safety and success of Americans serving abroad and the local people and partners they seek to help.
Shultz formerly served on the board of directors of the Bechtel Corporation, of the Charles Schwab Corporation, and from 1996 to 2005 of Gilead Sciences. He is a co-chairman of the North American Forum and serves on the board for Accretive Health.
While serving with the Marines in Hawaii, he met military nurse lieutenant Helena Maria O'Brien (1915–1995). They married on February 16, 1946, and had five children: Margaret Ann Tilsworth, Kathleen Pratt Shultz Jorgensen, Peter Milton Shultz, Barbara Lennox Shultz White, and Alexander George Shultz. Helena died in 1995 of pancreatic cancer.
Tyler Shultz, his grandson, is a whistleblower who exposed falsified lab tests conducted at Theranos during his employment, while George Shultz was a board member at the company (see "Theranos scandal" section).
Honorary degrees have been conferred from the universities of Columbia, Notre Dame, Loyola, Pennsylvania, Rochester, Princeton, Carnegie Mellon, City University of New York, Yeshiva, Northwestern, Technion, Tel Aviv, Weizmann Institute of Science, Baruch College of New York, Williams College, Hebrew University of Jerusalem, Tbilisi State University in the Republic of Georgia, and Keio University in Tokyo.
The group, led by former Secretary of State James A. Baker III, with former Secretary of State George P. Shultz and Henry M. Paulson Jr., a former secretary of the Treasury, says that taxing carbon pollution produced by burning fossil fuels is "a conservative climate solution" based on free-market principles.
W. Allen Wallis
| Dean of the Booth School of Business
W. Willard Wirtz
| United States Secretary of Labor
James Day Hodgson
as Director of the Bureau of the Budget
| Director of the Office of Management and Budget
| United States Secretary of the Treasury
William E. Simon
| United States Secretary of State
America's Other Army: The U.S. Foreign Service and 21st-Century Diplomacy is a book by Nicholas Kralev. Its first edition was published in 2012, and its second edition in 2015.The book is based on the author's visits to 77 American embassies and consulates over more than a decade, and interviews with about 600 diplomats, including eight U.S. secretaries of state: John Kerry, Hillary Clinton, Condoleezza Rice, Colin Powell, Madeleine Albright, Warren Christopher, James Baker and George Shultz.The author, who is a former Financial Times and Washington Times correspondent, discussed this book on BBC in January 2013 and PBS in March 2013.Bruce Wolfe
Bruce Wolfe (born 1941 in Santa Monica, California), is a sculptor, artist, illustrator, and designer, known for producing sculptures of and for many notable figures. The San Francisco Chronicle described him as "the top sculptor for hire in the Bay Area, and maybe the nation". Within his forty-year career he created sculptures and busts of Barbara Jordan, Margaret Thatcher, former mayor Ilus W. Davis of Kansas City, former Secretary of State George Shultz, Norman Shumway, and former Supreme Court Chief Justice William Rehnquist.Wolfe has resided in Northern California for most of his life. He studied art at the San Jose State University and the San Francisco Art Institute. He has taught painting and sculpture, at the Academy of Art in San Francisco, and the College of Arts and Crafts in Oakland California.
He is also credited with creating a theatrical poster for Indiana Jones and the Temple of Doom.His work has been exhibited across New York, California, Paris, and at the Smithsonian.
His awards include a CLIO, Endowment of Arts Federal Achievement Award, First Place at the Art of the Portrait Conference 2001, a Joseph Henniger Award, Zellerbach and Foster & Kleiser Awards.Charles Hill (diplomat)
Charles Hill (born April 28, 1936) is the Diplomat-in-Residence and a lecturer in International Studies at Yale University. A career foreign service officer, Mr. Hill was a senior adviser to George Shultz, Henry Kissinger, and Ronald Reagan, as well as Boutros Boutros-Ghali, the sixth Secretary-General of the United Nations. At Yale, he teaches, along with Paul Kennedy and John Gaddis, the seminar "Studies in Grand Strategy", a rigorous interdisciplinary study of leadership, statecraft and diplomacy. He also teaches students enrolled in the Directed Studies program. Beginning in 2006, Hill offered a new course, Oratory in Statecraft. Not since Rollin G. Osterweis, who taught "The History and Practice of American Oratory", had oratory been taught at Yale.
Hill received a B.A. from Brown University in 1957, a J.D. and an M.A. in American Studies from the University of Pennsylvania in 1960 and 1961, respectively. He is a recipient of the Superior Honor Award from the State Department, the Presidential Distinguished Service Award, and the Secretary of State's Medal. He holds an honorary doctorate of laws from Rowan University.Hill is a research fellow at Stanford University's Hoover Institution. Hill is also a Project for the New American Century (PNAC) signatory. Hill served as Chief Foreign Policy Advisor to Rudy Giuliani, a Republican candidate for the 2008 presidential election.Charlotte Mailliard Shultz
Charlotte Mailliard Shultz, CVO (born Charlotte Smith; September 26, 1933) is an American heiress and socialite. She is the Chief of Protocol for the state of California, and the Chief of Protocol for the City and County of San Francisco. She is married to former United States Secretary of State George P. Shultz.In 2007, she was named Honorary Commander of the Royal Victorian Order (CVO) by Queen Elizabeth II. Mailliard Shultz was President of the board of the War Memorial Performing Arts Center and a member of the boards of the San Francisco Symphony, Grace Cathedral, the Commonwealth Club of California, and the San Francisco Ballet. A native Texan, Mailliard Shultz has often quipped about San Francisco, "...if I don't pay my dues, they may send me back to Texas!"Commission on Critical Choices for Americans
The Commission on Critical Choices for Americans was a bipartisan working group proposed by President Richard Nixon and established at his behest in 1973 by New York Governor Nelson Rockefeller. Its purpose was to examine the impact of rapid change upon American society and the place of the United States on the world stage. Rockefeller resigned the governorship of New York in order to devote himself full-time to the CCCA in December, 1973.
Several very high-profile people were appointed to the CCCA. Besides Governor Rockefeller, it included Vice-President Gerald Ford, Secretary of State Henry Kissinger, Secretary of the Treasury George Shultz, the majority and minority leaders of both the US Senate and the US House of Representatives, numerous high-profile businessmen and educators, as well as Daniel Patrick Moynihan and former Miss America Bess Myerson.
The original name proposed for the Commission was "America in the Third Century", a reference to the fact that, in 1976, the United States would begin its third century as an independent nation. However, Rockefeller ultimately decided that "Critical Choices for Americans" was a more descriptive moniker. The commissions work was set up in six areas:
Panel I—Energy and Its Relationship to Ecology: Economics and World Stability.
Panel II—Food, Health, World Population and Quality of Life.
Panel III—Raw Materials, Industrial Development, Capital Formation, Employment and World Trade.
Panel IV—International Trade and Monetary Systems, Inflation and the Relationships Among Differing Economics Systems.
Panel V—Change, National Security and Peace, and
Panel VI -Quality of Life of Individuals and Communities in the U.S.AThe commission was expected to take two years to complete its work, and indeed, its final report was issued in 1976.Elizabeth Holmes
Elizabeth Anne Holmes (; born February 3, 1984) is an American entrepreneur and the founder and former CEO of Theranos, a now defunct company known for its unlikely claims to have revolutionized blood testing using surprisingly small volumes of blood such as from a fingerprick. In 2015, Forbes named Holmes the youngest and wealthiest self-made female billionaire in America on the basis of a $9 billion valuation of Theranos. By the next year, following revelations of potential fraud, Forbes revised her net worth to zero dollars, and Fortune named Holmes one of the "World's Most Disappointing Leaders".The decline of Theranos began in 2015, when a series of journalistic and regulatory investigations revealed doubts about the company's technology claims, and whether Holmes had misled investors and the government. In 2018, the U.S. Securities and Exchange Commission charged Theranos and Holmes with deceiving investors by "massive fraud" through false or exaggerated claims about the accuracy of her blood-testing technology; Holmes settled the charges by paying a $500,000 fine, returning shares to the company, relinquishing her voting control of Theranos, and being barred from serving as an officer or director of a public company for ten years. In June 2018, a federal grand jury indicted Holmes and former Theranos chief operating officer Ramesh Balwani on nine counts of wire fraud and two counts of conspiracy to commit wire fraud for distributing blood tests with falsified results to consumers.The early credibility of Theranos was in part interpreted as an effect of Holmes's personal connections and ability to recruit the support of influential people including Henry Kissinger, Bill Clinton, George Shultz, James Mattis, and Betsy DeVos. Holmes was in a relationship with her chief operating officer Ramesh "Sunny" Balwani and is in a relationship with hotel heir Billy Evans.Holmes's career, the rise and dissolution of her company, and the subsequent fallout are the subject of a book, Bad Blood: Secrets and Lies in a Silicon Valley Startup by the Wall Street Journal reporter John Carreyrou.Hoover Institution
The Hoover Institution on War, Revolution, and Peace is an American public policy think tank and research institution located at Stanford University in California. It began as a library founded in 1919 by Republican and Stanford alumnus Herbert Hoover, before he became President of the United States. The library, known as the Hoover Institution Library and Archives, houses multiple archives related to Hoover, World War I, World War II, and other world history. According to the 2016 Global Go To Think Tank Index Report (Think Tanks and Civil Societies Program, University of Pennsylvania), Hoover is No. 18 (of 90) in the "Top Think Tanks in the United States".The Hoover Institution is a unit of Stanford University but has its own board of overseers. It is located on the campus. Its mission statement outlines its basic tenets: representative government, private enterprise, peace, personal freedom, and the safeguards of the American system. The institution is generally described as conservative, although directors and others associated with it assert that the institution is nonpartisan, as its primary goal is to "promote economic opportunity and prosperity, while securing and safeguarding peace for America and all mankind."The institution has been a place of scholarship for individuals who previously held high-profile positions in government, such as George Shultz, Condoleezza Rice, Michael Boskin, Edward Lazear, John B. Taylor, Edwin Meese, and Amy Zegart—all Hoover Institution fellows. In 2007, retired U.S. Army General John P. Abizaid, former commander of the U.S. Central Command, was named the Institution's first annual Annenberg Distinguished Visiting Fellow. Former Secretary of Defense General James Mattis served as a research fellow at Hoover before being appointed by the Trump administration.The institution is housed in four buildings on the Stanford campus. The most prominent facility is the landmark Hoover Tower, which is a popular visitor attraction. The tower features an observation deck on the top level that provides visitors with a panoramic view of the Stanford campus and surrounding area. Additionally, the institution has a branch office in the Johnson Center in Washington, DC.Kissinger Lecture
The Kissinger Lecture on Foreign Policy and International Relations is an annual lecture given by an invited speaker at the Library of Congress, Washington D.C. It was established in 2001 to honor Henry Kissinger, the former United States Secretary of State, along with the annual Kissinger Scholar as holder of the Henry Alfred Kissinger Chair in Foreign Policy and International Relations that was established in 2000.
The lectures have been given by:
Henry Kissinger, Inaugural Lecture 2001
Valéry Giscard d'Estaing, 2003
George Shultz, 2004
Fernando Henrique Cardoso, 2005
James Baker, 2007MV Geysir
MV Geysir is a U.S.-flagged general cargo/container ship owned by TransAtlantic Lines LLC. Originally named Amazonia, the 90-meter ship was built by American Atlantic Shipping in 1980 to serve a route from the United States to Brazil. In 1983, the ship was seized by the United States Maritime Administration for nonpayment of government loans.
In 1984, it was renamed Rainbow Hope and leased by a small startup company to serve a route between the United States and the American military base at Keflavik, Iceland. As Rainbow Hope the ship was central in an international disagreement between the United States and Iceland that would span years, be compared by The Chicago Tribune to the plot of the movie The Mouse That Roared, and involve political personalities including Antonin Scalia, Ruth Bader Ginsburg, Ken Starr, Elizabeth Dole, George Shultz, and Ronald Reagan.After finally losing the Iceland route, the ship was renamed Juno, bought by Norwegian owners and worked in the Norwegian trade from 1996 to 1999. In 1999, it was bought by TransAtlantic Lines, renamed Geysir and put back on the U.S.–Iceland route, leading to further tensions between the United States and Iceland. After the 2006 closing of the United States Naval Station in Keflavik, the ship has gone on to carrying cargo to U.S. activities in the Azores.North American Forum
The North American Forum is an annual meeting of U.S., Canadian and Mexican government and business representatives to discuss issues related to continental economic and social integration. The Forum is chaired jointly by former United States Secretary of State George Shultz, former Mexican Finance Minister Pedro Aspe, and former Alberta premier Peter Lougheed.Nuclear Tipping Point
Nuclear Tipping Point is a 2010 documentary film produced by the Nuclear Threat Initiative. It features interviews with four American government officials who were in office during the Cold War period, but are now advocating for the elimination of nuclear weapons: Henry Kissinger, George Shultz, Sam Nunn, and William Perry. Michael Douglas narrated the film.These "Four Cold Warriors", who each contributed in important ways to the nuclear arms race, built on classical deterrence theory, now argue that we must eliminate all nuclear weapons or face disaster on an enormous scale. Former Secretary Kissinger puts the new danger this way: "The classical notion of deterrence was that there was some consequences before which aggressors and evildoers would recoil. In a world of suicide bombers, that calculation doesn’t operate in any comparable way". Shultz has said, "If you think of the people who are doing suicide attacks, and people like that get a nuclear weapon, they are almost by definition not deterrable".The film was screened at the White House on April 6, 2010.Nuclear disarmament
Nuclear disarmament is the act of reducing or eliminating nuclear weapons. It can also be the end state of a nuclear-weapons-free world, in which nuclear weapons are completely eliminated. The term denuclearization is also used to describe the process leading to complete nuclear disarmament.Nuclear disarmament groups include the Campaign for Nuclear Disarmament, Peace Action, Greenpeace, Soka Gakkai International, International Physicians for the Prevention of Nuclear War, Mayors for Peace, Global Zero, the International Campaign to Abolish Nuclear Weapons, and the Nuclear Age Peace Foundation. There have been many large anti-nuclear demonstrations and protests. On June 12, 1982, one million people demonstrated in New York City's Central Park against nuclear weapons and for an end to the cold war arms race. It was the largest anti-nuclear protest and the largest political demonstration in American history.In recent years, some U.S. elder statesmen have also advocated nuclear disarmament. Sam Nunn, William Perry, Henry Kissinger, and George Shultz have called upon governments to embrace the vision of a world free of nuclear weapons, and in various op-ed columns have proposed an ambitious program of urgent steps to that end. The four have created the Nuclear Security Project to advance this agenda. Organisations such as Global Zero, an international non-partisan group of 300 world leaders dedicated to achieving nuclear disarmament, have also been established.
Proponents of nuclear disarmament say that it would lessen the probability of nuclear war occurring, especially accidentally. Critics of nuclear disarmament say that it would undermine deterrence.OTR-23 Oka
The OTR-23 Oka (Russian: OTP-23 «Ока»; named after Oka River) was a mobile theatre ballistic missile (Russian: оперативно-тактический ракетный комплекс) deployed by the Soviet Union near the end of the Cold War to replace the obsolete SS-1C 'Scud B'. It carried the GRAU index 9K714 and was assigned the NATO reporting name SS-23 Spider. The introduction of the Oka significantly strengthened Soviet theatre nuclear capabilities as its range and accuracy allowed it not only to strike hardened NATO targets such as airfields, nuclear delivery systems, and command centers, but moving targets as well. It also had a fast reaction time, being able to fire in approximately five minutes, and was nearly impossible to intercept, thereby allowing it to penetrate defenses.The main components of the 9K714 system were:
the transport and launch vehicle PU 9P71 (Russian: cамоходная пусковая установка), based on the amphibious BAZ-6944
the similar transporter-loader TZM 9T230 (Russian: транспортно-заряжающая машина) with one spare missile and equipped with a hydraulic crane
the re-supply vehicle TM 9T240 (Russian: транспортная машина), a ZIL-131 tractor with semi-trailer to transport a missile (in transport container 9Ya249) and a warhead (in a 9Ya251 container)The operational life of the Oka was limited and controversial. The Soviet military asserted that the Oka had a maximum range of 250 miles (400 km). American experts, however, estimated it had a greater range. In 1987, Mikhail Gorbachev proposed to George Shultz that he would unilaterally remove all Okas, if it would prevent the United States from building up its own short-range nuclear forces in Europe, despite the fact that the Soviet military was in favor of the Oka. Shultz however lacked the authority to act on the suggestion. Gorbachev included the Oka in the class of systems to be discontinued as part of the INF Treaty as a gesture of goodwill, even though Soviet assertions of its maximum range did not put it outside the specifications of the treaty.There was diplomatic controversy over this weapons system in April 1990, when the Soviets informed the US of their covert transfer of at least 120 missiles to the Warsaw Pact states of Czechoslovakia, Bulgaria, and East Germany during the time of negotiation of the Intermediate-Range Nuclear Forces Treaty. Evidence indicates that the missiles were transferred with conventional warheads only, although equipment to load Soviet nuclear warheads was apparently retained.Stanford Institute for Economic Policy Research
The Stanford Institute for Economic Policy Research (SIEPR) is a nonpartisan economic research institution housed at Stanford University. It was founded in 1982 as a way to bring together economic scholars from different parts of the University.
SIEPR's mission is to support research that informs economic policymaking while engaging future leaders and scholars. The institute shares knowledge and builds relationships among academics, government officials, the business community and the public.
George Shultz was a key player in its inception. The current director of the institute is Mark Duggan; past directors include John Shoven, Michael Boskin, Lawrence J. Lau, and James Sweeney.
SIEPR is a partner on the data aggregator website USAFacts.org.The Summit (San Francisco)
The Summit is a highrise condominium tower developed by Joseph Eichler, located near the top of the upscale Russian Hill in San Francisco, California, at 999 Green Street. The tower was designed by Niell Smith and Associates. Above ground, it has 4 floors of parking and 25 floors of residential condominiums. The tower, completed in 1965, has some of San Francisco's most expensive and scenic condos. This residential tower is featured in Sean Wilsey's book Oh the Glory of It All as well as "Significant Others" and "Sure of You" by Armistead Maupin.
Residents include former Secretary of State George Shultz and his wife, San Francisco's chief of protocol, Charlotte Smith Mailliard Swig Shultz. The couple hosted British prime minister Tony Blair at their two-floor penthouse home when Blair visited California in July 2006.Wat T. Cluverius IV
Wat Tyler Cluverius IV (December 4, 1934 – February 14, 2010) was a United States diplomat with a focus on the Middle East.
He was born in Arlington, Massachusetts and grew up in Chicago, Illinois. Cluverius married the former Leah Konstabler. Cluverius was a veteran of the United States Navy, serving from 1957 to 1962. He received a master's degree from Indiana University Bloomington in 1967. He was a fourth-generation member of the navy, and his daughter, Charlotte Cluverius, is a naval officer.Cluverius joined the United States Department of State in the 1967. He served as U.S. Ambassador to Bahrain from 1976 to 1978. He also served as a deputy assistant secretary of state during the presidency of Ronald Reagan. According to then U.S. Secretary of State George Shultz, Cluverius was "a man to whom King Hussein talked easily and whom we therefore sent to Jordan at critical times." He also served as Consul General in Jerusalem from 1983 to 1985. From 1988 to 1998, he served as Director-General of the Multinational Force and Observers. From 2002 to 2007, he was the president and chief executive officer of the Cleveland Council on World Affairs.Cluverius was survived by his widow, Leah, son, Wat T. Cluverius V, daughter Charlotte, and two stepsons.William L. Ball
William Lockhart Ball III (born June 10, 1948) is an American former government official and political appointee. He held senior posts in the Reagan Administration, beginning as an Assistant Secretary of State under George Shultz in 1985 . He moved to the White House staff in 1986 as President Reagan's chief lobbyist and liaison to Congress. After two years in that capacity, he was nominated by President Reagan and confirmed by the Senate to become the 67th Secretary of the Navy in 1988.William P. Clark Jr.
William Patrick Clark Jr. (October 23, 1931 – August 10, 2013) was an American rancher, judge, and public servant who served under President Ronald Reagan as the Deputy Secretary of State from 1981 to 1982, United States National Security Advisor from 1982 to 1983, and the Secretary of the Interior from 1983 to 1985.
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