Carter asks panel to delay Lance stock sale
President Carter urged the Senate Governmental Affairs Committee to extend the Dec deadline for Bert Lance to divest 11,000 shares of National Bank of Georgia noting the forced sale would impose an undue financial burden on Lance and the bank. He proposed shifting from a blind trust to a corporate trustee to permit prudent sale without a firm deadline.
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Bert Lance
National Bank of Georgia
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Exxon withdraws from Seadeck offshore port project
Exxon and Mobil pull financial support for the Seadeck superport 26 miles off Freeport Texas in the Gulf of Mexico. Transportation officials say policy assurances and tariff privileges were sought to favor owner firms and hurt independents. Gulf and Shoft remain, with others like City Service and Phillips Petroleum in the venture if it proceeds.
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Gulf
Shoft
City Service
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William T. Coleman
Ford Administration
Tul Coleman
Justice Department
Federal Trade Commission
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Adams
Justice
FTC
Ex tax collectors urge simpler code in tax laws
Three former top tax officials told a joint economic subcommittee that the 1,000 page income tax code is incomprehensible to most citizens and should be simplified. They warned current bills, including an energy tax credit, risk increasing confusion and leakage of revenue. Lloyd Bentsen expressed sympathy and shared self doubt about completing his own return.
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Congress
Sheldon
Cohen
Internal Revenue
Johnson
Donald C. Alexander
Ford
Mortimer Caplin
Kennedy
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