Design of the system began inand field tests in West Texas and the Northeast US have been ongoing since Further cost reductions are being sought by ruggedizing tools for improved durability and by eliminating non-essential sensors. Some service companies are reducing costs by developing more durable tools that can drill for longer in harsh environments, while others are focused on reducing the cost of the tool itself by eliminating non-essential functions.
As Deputy Secretary, he supervised the Nixon administration's program to restructure and improve U. He also served as the first Administrator of the Federal Energy Office. From December 4,Simon simultaneously launched and administered the Federal Energy Administration at the height of the oil embargo.
As such he became known as the high-profile " Energy Czar ",  and represented a revitalization of the "czar" term in U. He also chaired the President's Oil Policy Committee and was instrumental in revising the mandatory oil import program in April Simon was a member of the President's Energy Resources Council and continued to have major responsibility for coordinating both domestic and international energy policy.
Simon was asked to continue to serve at Treasury by President Gerald R. Simon's term as Secretary of the Treasury ended on January 20, As Treasury Secretary, Simon supported free markets and denounced government policies that either subsidize or penalize businesses. In Simon's own words: Throughout the last century the attachment of businessmen to free enterprise has weakened dramatically as they discovered they could demand — and receive — short-range advantages from the state I watched with incredulity as businessmen ran to the government in every crisis, whining for handouts or protection from the very competition that has made this system so productive.
Following government service, Simon was a Vice Chairman at Blyth Eastman Dillon for three years, He and his partner, then co-founded with Ray Chambersa tax accountant, Wesray Capital Corporation Simon contributing the "Wes" and Chambers contributing the "ray" based on his initialsan LBO firm that bought and sold, among others, the Gibson Greeting Card Company, Anchor Glass, and the Simmons Mattress Company, typically investing tiny fractions of their own money and including significant debt to complete the purchase from prior shareholders, and then selling the companies whole or piecemeal after making changes that "often included job cutbacks and other short-term cost-reduction measures.
Inhe launched WSGP International, which concentrated on investments in real estate and financial service organizations in the western United States and on the Pacific Rim. Intogether with sons William E.
Peter Simon, he founded William E. The firm is now[ when? Inhe partnered with several investors to form Catterton-Simon Partnersa private equity firm focused on beverages and other consumer products, which today is known as Catterton Partners.
In the Anchor Glass case, Simon made millions more through deals with the company wherein the company leased its land, buildings, and equipment from Simon.
Wesray also received banking fees for handling the subsequent purchase by Anchor of Midland Glass Company. Anchor Glass also bought casualty, liability, employee health and benefit insurance from a brokerage firm partially owned by Simon.
The Anchor Glass corporate headquarters in Tampa was leased from Simon. Anchor Glass later admitted in an SEC filing, that "these arrangements Anchor Glass was finally bought by a Mexican company, Vitro, S. InWilliam E. Army infantryreceived his B. In his later life, Simon was a member of the board of trustees, serving from to Simon was a resident of Harding Township, New Jersey.
She died in Simon married his second wife, Tonia Adams Donnelley in Simon died of complications of pulmonary fibrosis at the age of 72, on June 3, in Santa Barbara, California. One of his sons, Bill Simonwas the Republican nominee for governor of California in He served as treasurer from to and as President of the U.
He chaired the U. Olympic Foundationcreated with the profits of the Los Angeles games, from throughand was inducted into the U. Olympic Hall of Fame in An additional athletics-related honor came on October 11,when Simon threw out the first pitch of the World Series at Boston's Fenway Park on behalf of President Ford.
Simon's legacy[ edit ] At the U. Simon Center for the Professional Military Ethic. Air Force Academyhe established the William E. Simon Center for Strategic Studies, as well as a Simon professorship.
InSimon received the U.
He has also served on the boards of many of America's premier think tanks, including The Heritage Foundation and the Hoover Institution.We would like to show you a description here but the site won’t allow us.
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