Engine Charlie. The following is from the Pentagon's web site:
"By January 1941 [Charles E. Wilson] was the president of General Motors. During World War II, Wilson directed the company's huge defense production effort, which earned him a U.S. Medal of Merit in 1946. He was still head of General Motors when President Eisenhower selected him as secretary of defense in January 1953.
"Wilson's nomination sparked a major controversy during his confirmation hearings before the Senate Armed Services Committee, specifically over his large stockholdings in General Motors. Reluctant to sell the stock, valued at more than$2.5 million, Wilson agreed to do so under committee pressure. During the hearings, when asked if as secretary of defense he could make a decision adverse to the interests of General Motors, Wilson answered affirmatively but added that he could not conceive of such a situation 'because for years I thought what was good for the country was good for General Motors and vice versa.' Later this statement was often garbled when quoted, suggesting that Wilson had said simply, 'What's good for General Motors is good for the country.' Although finally approved by a Senate vote of 77 to 6, Wilson began his duties in the Pentagon with his standing somewhat diminished by the confirmation debate."
Today, of course, such conflicts of interest are annointed synergies.
Carl Remick