Eugene serious relation

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This site uses cookies to optimize functionality and give you the best possible experience. If you continue to navigate this website beyond thiscookies will be placed on your browser. To learn more about cookies. Eugene Meyer, - Eugene Meyer was born in in Los Angeles. He attended Yale University, graduating in By he had made a personal fortune by focusing on investments in the copper, gold, automobile and chemical industries.

He developed a firm reputation on Wall Street as a solid manager of investment funds and as an innovator. His firm pioneered the use of a research department — scientific investing — to perform detailed economic analyses of businesses. In Meyer left the political world and purchased the Washington Post.

Eugene serious relation

Meyer seemed to be a good choice for Bank's first president. He had practical organizational experience and broad government experience. His Wall Street career earned him a reputation for innovative practices, careful dealing, and detailed economic analyses of investments. Meyer's first task was recruitment of staff. He quickly appointed a vice president Harold Smitha general counsel Chester McLainand a director of the loan department Charles Pineo.

Eugene serious relation

By December the Bank's staff had grown to people. Meyer also tackled the problem of the Bank's organizational structure. One of his earliest initiatives was the establishment of a research department to provide senior officials with the data needed to make decisions about loans and guarantees, judgments about the conditions in the countries seeking assistance, and assessments of the availability of capital.

Meyer appointed Leonard Rist as head of this important department, and within three months the research operation was under way.

Eugene serious relation

Other organizational issues remained more tentative. The executive directors had set up a of committees to deal with various aspects of Bank operations and policy, one of which dealt with the preferred organization of the Bank. The Organization Committee recommendations made the executive directors committees responsible for all administrative matters in the Bank. Meyer disagreed with these recommendations and reed a few days later. Meyer's most ificant impact may have taken place outside the Bank itself. His reputation on Wall Street was one of the strongest assets he brought to the Bank, and investors welcomed his promise that the Bank would operate on sound investing principles.

He actively promoted changes in state legislation in the U. The Bank's mission was another issue which needed clarifying when Meyer became president. The Articles of Agreement called for the Bank to make loans for reconstruction and for development.

The European officials were particularly interested in post-war reconstruction. The U. Collado, wanted to make a development loan to Chile as the Bank's first operation. Meyer did not want to rush into operations, insisting upon a Eugene serious relation analysis of any loan application before committing the institution to lending. The Bank's first loan was made in Mayafter Meyer's departure. Meyer also helped to define the relationship between the World Bank and the United Nations. Meyer and the executive directors feared that the Bank could become a political tool of the UN, and delayed making formal agreements between the two institutions.

A formal agreement was ed during McCloy's tenure.

Eugene serious relation

Smith, Consequently Meyer found himself involved in sharp clashes with the Bank's executive directors. Sources of major conflict were the division of responsibility between the president and the executive directors, and the role of the United States and the United Kingdom in the World Bank.

Eugene serious relation

These became the defining issues of Meyer's presidency. The executive directors saw their role to be initiators of policy, lending proposals, and funding initiatives; and responsible for all administrative matters in the Bank. Treasury — was a strong proponent for power being in the hands of the executive directors. On the other hand, Meyer insisted that the Bank was to initiate policies and operations, and executive directors were to approve them.

Collado and Meyer clashed on a of issues, until Meyer suddenly reed on December 4, Meyer's private comment was that he could stay on and fight — and probably win — "but I'm too old for that.

Eugene serious relation

English History past-presidents. Explore History. Eugene Meyer. Setting up the World Bank Meyer seemed to be a good choice for Bank's first president. Defining the Bank's Mission The Bank's mission was another issue which needed clarifying when Meyer became president.

Eugene serious relation

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Eugene O'Neill