{"@context":"http://iiif.io/api/presentation/3/context.json","id":"https://houstonlibrary.aviaryplatform.com/iiif/cv4bn9zn1b/manifest","type":"Manifest","label":{"en":["Montgomery, Jeff"]},"logo":"https://d9jk7wjtjpu5g.cloudfront.net/organizations/logo_images/000/000/252/original/HPL_ArchiveBannerCDM2.jpg?1738348845","metadata":[{"label":{"en":["Publisher"]},"value":{"en":["Houston Public Library Special Collections"]}},{"label":{"en":["Rights Statement"]},"value":{"en":["\u003cp\u003e\u003ca href=\"https://rightsstatements.org/page/CNE/1.0/?language=en\"\u003eCopyright Not Evaluated \u003c/a\u003e\u003c/p\u003e\n\u003cp\u003ePlease contact the Houston History Research Center, Houston, Texas. To request item: https://digital.houstonlibrary.org/reproductions-and-copyright\u003c/p\u003e"]}},{"label":{"en":["Agent"]},"value":{"en":["Courtwright, David (interviewer)","Montgomery, Jeff (Interviewee)"]}},{"label":{"en":["Date"]},"value":{"en":["November 07, 1975 (created)"]}},{"label":{"en":["Language"]},"value":{"en":["English (primary)"]}},{"label":{"en":["Description"]},"value":{"en":["\u003cp\u003eJeff Montgomery graduated as a Petroleum engineer, worked in the Air Force and studied law. He worked in various oil and gas producing companies.\u003c/p\u003e"]}},{"label":{"en":["Format"]},"value":{"en":["Videocassette tape, sound"]}},{"label":{"en":["Subject"]},"value":{"en":["Houston (Tex.) (geographic)","Businessmen","Oral histories","United States. Air Force","Oil industries","Businessmen--Texas--Houston","Businesspeople","Petroleum engineering;"]}},{"label":{"en":["Type"]},"value":{"en":["Sound"]}},{"label":{"en":["Custom Identifier"]},"value":{"en":["OH0203"]}},{"label":{"en":["Note"]},"value":{"en":["Original"]}},{"label":{"en":["Funding Note"]},"value":{"en":["This project was made possible in part by the Institute of Museum and Library Services [ARPML-250908-OMLS-22]."]}}],"summary":{"en":["\u003cp\u003eJeff Montgomery graduated as a Petroleum engineer, worked in the Air Force and studied law. He worked in various oil and gas producing companies.\u003c/p\u003e"]},"requiredStatement":{"label":{"en":["Attribution"]},"value":{"en":["\u003cp\u003e\u003ca href=\"https://rightsstatements.org/page/CNE/1.0/?language=en\"\u003eCopyright Not Evaluated \u003c/a\u003e\u003c/p\u003e\n\u003cp\u003ePlease contact the Houston History Research Center, Houston, Texas. To request item: https://digital.houstonlibrary.org/reproductions-and-copyright\u003c/p\u003e"]}},"provider":[{"id":"https://houstonlibrary.aviaryplatform.com/aboutus","type":"Agent","label":{"en":["Houston Public Library"]},"homepage":[{"id":"https://houstonlibrary.aviaryplatform.com/","type":"Text","label":{"en":["Houston Public Library"]},"format":"text/html"}],"logo":[{"id":"https://d9jk7wjtjpu5g.cloudfront.net/organizations/logo_images/000/000/252/original/HPL_ArchiveBannerCDM2.jpg?1738348845","type":"Image"}]}],"thumbnail":[{"id":"https://d9jk7wjtjpu5g.cloudfront.net/collection_resource_files/thumbnails/000/215/707/small/open-uri20231108-480-bqwfdu_1699475373.jpg?1699457377","type":"Image","format":"image/jpeg"}],"items":[{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707","type":"Canvas","label":{"en":["Media File 1 of 1 - OH0203JeffMontgomery.mp4"]},"duration":3719.85,"width":640,"height":360,"thumbnail":[{"id":"https://d9jk7wjtjpu5g.cloudfront.net/collection_resource_files/thumbnails/000/215/707/small/open-uri20231108-480-bqwfdu_1699475373.jpg?1699457377","type":"Image","format":"image/jpeg"}],"items":[{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/content/1","type":"AnnotationPage","items":[{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/content/1/annotation/1","type":"Annotation","motivation":"painting","body":{"id":"https://aviary-p-houstonlibrary.s3.wasabisys.com/collection_resource_files/resource_files/000/215/707/original/OH0203JeffMontgomery.mp4?1699457368","type":"Video","format":"video/mp4","duration":3719.85,"width":640,"height":360},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707","metadata":[]}]}],"annotations":[{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725","type":"AnnotationPage","label":{"en":["OH0203JeffMontgomery [Transcript]"]},"items":[{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/1","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Interview with Mr. Jeff Montgomery on November the 7th, 1975.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2.5,7.6"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/2","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Mr. Montgomery, when did you first come to Houston?","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=10.73,13.23"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/3","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"In the spring of 1957.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=14.55,17.67"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/4","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Where did you live before that?","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=18.35,19.69"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/5","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"In Dallas.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=20.31,20.95"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/6","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And what careers had you pursued at that time?","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=22.07,24.63"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/7","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Well, I had started a career while I was in college and","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=28.15,34.35"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/8","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"immediately after as a petroleum engineer.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=34.35,37.87"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/9","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And then I did a year's graduate work at Harvard Business School","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=39.65,42.95"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/10","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and following that was called to active duty in the Army Air","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=42.95,47.25"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/11","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Force.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=47.25,47.65"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/12","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"This was at what time now?","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=48.35,49.59"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/13","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"1942.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=50.37,51.05"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/14","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I spent four years in the Air Force and after that went","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=52.21,57.39"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/15","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"to law school and then practiced law in Midland, Texas for nearly","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=57.39,64.51"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/16","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"three years at which time I went back into the oil business","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=64.51,70.07"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/17","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"as general manager of Texas Crude Oil Company in Fort Worth.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=70.07,73.99"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/18","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Stayed in that position for three years and then did consulting engineering","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=77.06,82.12"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/19","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"work for about a year and became vice president in charge of","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=82.12,86.9"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/20","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"oil and gas matters for Marmonell Corporation in Dallas and then joined","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=86.9,91.94"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/21","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Kirby in 1957.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=91.94,96.26"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/22","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Kirby at that time was a company that was formed by the","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=97.08,101.98"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/23","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"merger or amalgamation of several other companies.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=104.06,109.26"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/24","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"What were those companies, do you recall?","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=110.06,111.44"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/25","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Kirby Oil and Gas Company, Venezuela Syndicate, Oakland Royalty Company were","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=112.4,118.9"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/26","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"the primary pieces that went into it.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=118.9,122.94"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/27","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"These were all petrochemical companies?","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=123.24,124.82"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/28","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"No, they were none of them petrochemical companies.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=125.62,127.84"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/29","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"They were oil and gas producing companies.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=127.979,130.62"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/30","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"So the firm did not really start out to be as diversified","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=132.18,136.8"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/31","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"as it is now.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=136.8,137.64"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/32","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"That's right.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=137.9,138.54"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/33","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Before I get into the process of diversification, would you describe the","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=140.46,147.04"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/34","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"different areas the firm participated in as of 1975 which covers a","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=147.04,153.88"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/35","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"lot of ground now?","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=153.88,154.52"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/36","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"We were in the business of exploring far and producing oil and","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=155.7,160.34"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/37","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"gas, marine transportation business through Dixie Carriers primarily in the","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=160.34,169.28"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/38","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"inland waters but to some extent also in the Gulf of Mexico","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=169.28,172.66"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/39","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and large transportation.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=172.66,177.5"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/40","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Pre-fabricated or pre-engineered steel building business through Kirby Building","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=182.02,188.98"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/41","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Systems.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=188.98,189.52"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/42","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Automotive finance business through Caribbean Finance Company in Puerto Rico.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=192.51,197.33"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/43","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"A small degree were in the data processing business through Davenport Data","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=201.22,205.98"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/44","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Processors and high technology coating business in Dallas","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=205.98,215.78"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/45","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"through Material Technology Corporation.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=215.78,217.9"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/46","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"In 1975, I believe your firm reported record profits and yet liquidation","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=220.48,228.66"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/47","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"has been very much a prospect recently.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=228.66,231.16"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/48","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Why is this so?","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=232.24,233.1"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/49","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Well, the Board of Directors, I'll just quote you out of the","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=239.09,242.29"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/50","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"proxy statement on that and that will be the most correct answer","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=242.29,245.69"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/51","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I expect.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=245.69,246.29"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/52","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"The Board of Directors and the management of the corporation have determined","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=246.29,249.81"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/53","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that certain assets of the corporation should be sold for reasons relating","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=249.81,253.57"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/54","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"to current developments in natural resource industry, the uncertain state of","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=253.57,258.37"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/55","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"the securities market and the opportunity for disposition of the corporation's","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=258.37,264.69"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/56","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"oil and gas reserves at a value which is in the best","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=264.69,268.77"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/57","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"interest of the stockholders.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=268.77,269.99"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/58","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"To elaborate on that a bit, the Congress of the United States","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=270.89,276.05"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/59","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"has under consideration various changes in taxation including recent enactments","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=276.05,284.19"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/60","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"limiting the depletion allowance and regulation of corporations engaged in the","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=284.19,289.27"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/61","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"development of natural resources which changes if enacted could have a","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=289.27,294.39"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/62","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"materially adverse bearing on the future of the industry.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=294.39,297.27"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/63","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"The uncertainties of the oil and gas producers are for oil and","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=297.97,303.19"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/64","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"gas producers generated by the growing energy crisis and the possible","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=303.19,307.11"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/65","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"congressional reactions to the energy situation were among factors considered","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=307.11,312.43"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/66","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"by management in arriving at a decision that a sale of most","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=312.43,317.31"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/67","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"of Kirby's oil and gas properties is in the best interest of","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=317.31,320.15"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/68","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"the stockholders and that the price negotiated with Devon Corporation is a","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=320.15,325.21"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/69","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"favorable one.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=325.21,326.83"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/70","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Further than that, management believes that due to the holding company","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=327.33,331.73"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/71","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"structure of the corporation and the uncertain state of the securities market,","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=332.85,336.81"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/72","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"the real value of the corporation's assets has not been properly reflected","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=336.93,341.23"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/73","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"in the market price of its stock and that the net assets","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=341.23,345.81"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/74","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"of the corporation will probably have a greater value to the stockholders","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=345.81,349.25"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/75","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"upon distribution than the trading values of the corporation's common stock","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=349.25,353.89"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/76","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"generally prevailing prior to the board's public announcement liquidation.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=353.89,361.64"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/77","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"This is curious because as late as 1973, you","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=361.76,372.26"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/78","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"had decided that the risk to reward ratio in oil and gas","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=372.26,376.14"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/79","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"exploration had so changed that such exploration was then advantageous.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=376.14,381.7"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/80","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"That was the situation.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=381.82,384.47"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/81","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Turned around that rapidly?","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=385.11,386.45"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/82","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"It's changed quite materially since then.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=387.39,390.65"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/83","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I would say that we haven't abandoned that position and although we","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=391.43,396.47"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/84","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"are selling a substantial part of our producing oil and gas properties,","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=396.47,399.87"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/85","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"we have put in a subsidiary which will be distributed to the","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=400.01,403.79"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/86","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"stockholders all of our producing royalty interests and all of our exploration","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=403.79,409.21"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/87","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"properties and we are continuing and that subsidiary will continue to conduct","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=409.21,414.93"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/88","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"a substantial exploration operation.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=414.93,417.31"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/89","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"One of the things that's influenced our thinking there, as I've described,","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=418.79,426.49"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/90","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"there are conditions of very substantial political uncertainty and one","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=426.61,432.97"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/91","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"technique of dealing with uncertainty is to hedge.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=432.97,438.07"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/92","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"So while there are recognizable satisfactory values, we're selling some","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=439.61,445.65"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/93","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"properties.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=445.65,446.11"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/94","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"On the other hand, we're keeping the properties necessary to go back","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=446.25,449.29"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/95","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and find more oil and gas.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=449.29,451.57"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/96","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"So we haven't completely gotten out of the business.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=452.11,456.75"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/97","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"We've just recognized an increase of political risk which we find...","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=456.93,463.25"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/98","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"What would an intelligent energy policy for this...","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=468.28,471.4"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/99","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"That might be a bit more complex than a short energy interview,","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=477.19,484.1"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/100","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"but the main aspect of an intelligent energy policy at the present","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=484.42,490.64"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/101","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"moment would seem to me to be to pursue less dependence on","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=490.64,500.44"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/102","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"foreign sources of energy.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=500.44,503.4"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/103","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"We have a perfectly adequate domestic base off of which to develop","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=503.96,510.42"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/104","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"the energy needed by an industrial economy.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=510.42,513.659"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/105","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"A substantial part of that base, of course, is in oil and","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=514.62,517.34"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/106","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"gas.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=517.34,517.82"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/107","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"An additional substantial part of it is in uranium.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=517.82,521.919"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/108","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And then we have just perfectly tremendous resource base in coal.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=522.76,527.18"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/109","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And the policy to be pursued by the government that would let","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=528.26,533.32"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/110","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"us reduce dependence, particularly on Middle East oil, would be to turn","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=533.32,539.74"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/111","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"loose and let the free market operate.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=539.74,541.36"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/112","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"It's true that that would increase the cost of oil and gas","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=542.44,547.06"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/113","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"to the consumer by a modest amount, but that increase would","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=547.06,555.51"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/114","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"be the most effective way to encourage conservation of energy.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=555.51,562.23"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/115","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"At the same time, it would make it possible to economically develop","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=562.83,567.37"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/116","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"a domestic energy base.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=567.37,569.17"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/117","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Essentially, the policy attempting...","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=569.61,572.89"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/118","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"The administration has attempted to pursue, which is a free market, private","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=573.53,581.03"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/119","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"economy solution, I think is the correct one.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=581.03,584.35"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/120","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And essentially the policy that has been dominant in the thinking of","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=585.09,593.4"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/121","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"the Congress to date, which is to control prices and therefore encourage","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=593.4,599.34"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/122","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"consumption and discourage production and lead us to shortages which will","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=599.34,605.62"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/123","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"require rationing unless we are willing to become increasingly dependent on","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=605.62,612.38"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/124","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Middle East sources, I think is just very detrimental to the economy","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=612.38,618.18"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/125","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and in turn...","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=618.18,619.18"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/126","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Decontrol has been a key phrase in a number that I have","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=622.27,628.54"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/127","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"conducted, especially those businessmen in the oil and gas field.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=628.54,631.72"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/128","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Why is it that Congress will not decontrol prices, especially on gas?","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=632.74,637.68"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/129","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Well, we have lived in an economy in which cheap energy has","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=640.33,646.61"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/130","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"been an outstanding characteristic.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=646.61,648.27"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/131","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And I suppose that there are many congressmen who perceive the movement","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=649.37,656.87"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/132","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"to more expensive energy as being unfavorable to their political futures.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=658.25,666.51"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/133","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And then I would say that there are others who are ideologically","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=667.43,674.59"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/134","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"unfriendly to the private economy and who believe that government is a","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=674.59,683.21"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/135","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"better holder of power and allocator and administrator of resources.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=683.21,690.51"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/136","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"My personal feeling is that a free society, a relatively free society,","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=693.34,701.02"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/137","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"can't survive without a private economy.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=702.44,706.64"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/138","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"In other words, if all economic power is concentrated, I believe that","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=707.54,717.13"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/139","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"individual freedom will survive.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=717.13,719.55"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/140","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Philosophical bias in favor of the free economy because I prefer a","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=723.78,729.06"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/141","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"free society.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=729.06,729.9"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/142","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I think that if you look at what is a free or","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=732.36,737.54"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/143","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"private economy, you can have a private economy which is so controlled","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=737.54,743.6"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/144","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"by a government that it doesn't end up being a free and","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=743.6,747.48"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/145","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"effective economy.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=747.48,748.84"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/146","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I think in political terms, if the government owns the means of","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=749.36,754.46"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/147","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"production and controls economic activities in that fashion, you have","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=754.46,759.92"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/148","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"socialism.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=759.92,760.86"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/149","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"If the government allows private ownership but in effect controls it, you","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=761.6,768.44"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/150","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"have fascism, neither of which historically has been conducive to personal","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=768.44,773.4"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/151","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"freedom.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=773.4,773.82"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/152","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Consequently, I'm not in favor of going in either direction.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=774.32,776.6"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/153","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Well, the control of gas prices is a rather good example for","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=778.4,783.98"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/154","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"your case.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=783.98,784.6"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/155","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Aren't there some areas of the market economy which require some regulation?","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=788.27,793.01"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/156","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"In other words, can a market economy always be expected to...","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=793.55,798.12"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/157","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"In other words, are you saying am I in favor of a","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=798.12,800.38"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/158","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"100% laissez-faire approach to things?","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=800.38,802.62"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/159","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"No, I think that you have some what have traditionally been called","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=803.68,810.14"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/160","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"natural monopolies which require some government regulation.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=810.14,816.62"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/161","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"The problem there is one of what kind of regulation and perhaps","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=818.86,824.22"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/162","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"an outstanding example of that in our community might be the issue","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=824.22,829.18"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/163","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"of the Houston Lighting and Power Company.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=829.18,830.88"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/164","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Today, I think it would be inefficient to have multiple competing power","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=831.3,836.9"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/165","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"companies.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=836.9,837.32"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/166","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"So it makes sense to have a licensed monopoly in the power","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=838.04,842.58"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/167","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"generation and distribution business and that then implies some kind of","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=842.58,847.24"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/168","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"regulation and I have no objection to the regulation of the rates","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=847.24,851.86"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/169","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"of the power company although I think that the program articulated by","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=851.86,859.82"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/170","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"the current city administration is detrimental to the citizenry of the","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=859.82,869.01"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/171","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"community.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=869.01,870.97"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/172","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"For instance, the administration has recognized that to raise sewer rates","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=871.61,877.49"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/173","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"improved the credit rating of the city and therefore lets us really","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=878.71,884.55"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/174","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"have services cheaper in the long run than if we had tried","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=884.55,888.11"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/175","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"to have cheap sewer rates which got us into financial difficulty.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=888.11,892.03"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/176","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"On the other hand, they seem to think that you can run","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=892.47,898.94"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/177","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"against the power company without having adverse effects on its credit rating.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=898.94,903.92"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/178","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I think that the program being pursued will damage the credit rating","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=904.46,910.7"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/179","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"of the power company and end up costing the consumer more than","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=910.7,916.16"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/180","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"if we had had a cooperative approach to rate setting here and","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=916.16,919.7"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/181","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"had done what I would call a reasonable job of regulation.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=919.7,922.88"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/182","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"There's no question that the power to regulate is the power to","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=923.48,926.54"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/183","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"destroy and if those in control of the regulation choose to destroy,","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=926.54,931.92"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/184","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"it will be very unfortunate for us as members of the society.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=932.14,936.64"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/185","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"One other set of regulations which occurred to me that might pose","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=939.36,944.0"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/186","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"a difficulty for your industry are the pollution regulations both county,","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=944.0,948.3"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/187","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"state, and federal.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=948.48,949.4"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/188","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Have you had any difficulties with those?","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=949.62,951.96"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/189","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Well, I think that's an appropriate area for government involvement.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=953.64,960.02"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/190","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"We haven't had any unreasonable difficulties there.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=962.82,966.44"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/191","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I would say that some of the regulations I think are unreasonable,","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=967.04,970.64"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/192","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"but to date we haven't had difficulties.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=970.64,976.15"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/193","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"One of the issues, for instance, that I think is being handled","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=976.57,979.29"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/194","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"poorly there, you've got regulations in the prospect of coming out which","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=979.29,984.43"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/195","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"will require that all boats including pleasure boats have sewage treating","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=984.43,991.09"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/196","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"facilities aboard or that you bring it back to shore.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=991.09,996.37"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/197","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Right now, for instance, in the Potomac Basin you've got boats including","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=997.79,1003.33"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/198","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"pleasure craft, I understand, which bring the sewage to shore, dump it","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1003.33,1009.07"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/199","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"in the municipal sewage system which pumps it back into the Potomac","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1009.07,1013.53"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/200","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Basin.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1013.53,1013.97"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/201","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"At the same time here, let's say that you're arguing about maybe","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1015.63,1020.29"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/202","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"a few hundred gallons a day of sewage going into the bay","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1020.29,1024.53"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/203","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"out of boats.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1024.53,1025.609"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/204","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"The city of Houston is dumping millions of gallons in.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1026.19,1029.71"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/205","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"The rationality of some of the government approach to regulation doesn't","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1033.76,1038.2"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/206","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"impress me.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1038.2,1039.0"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/207","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Was there ever an instance of the government, a government, county, state,","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1042.119,1047.16"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/208","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"or local, saying to you, you shall install X device or you","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1047.18,1052.36"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/209","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"will follow Y procedure?","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1052.36,1053.86"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/210","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I suppose I should check on it to be absolutely certain, but","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1061.4,1064.64"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/211","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I believe that in boats, for instance, the practice up until a","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1064.64,1072.44"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/212","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"few years ago was to pump bilges overboard.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1072.44,1075.78"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/213","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Now you have fittings through the hull in which water gets into","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1076.98,1081.46"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/214","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"the boat and you pump it back out.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1081.46,1083.2"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/215","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"You also have engines in there and there's oil in the engines","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1083.68,1086.8"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/216","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and some of that oil gets into the bilge and so in","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1086.8,1089.14"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/217","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"the process of pumping out the bilges you inadvertently pump out some","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1089.14,1093.78"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/218","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"petroleum products.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1093.78,1094.88"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/219","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I believe that we are required now to pump those bilges into","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1098.87,1103.63"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/220","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"holding tanks in which the oil can skim off and then we","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1103.63,1109.13"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/221","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"can pump some of the water out of the bottom and then","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1109.13,1111.03"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/222","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"the rest out.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1111.03,1111.47"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/223","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Those are probably reasonable.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1114.4,1115.54"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/224","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I don't know the words.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1115.74,1116.36"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/225","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"In other words, if the regulation is reasonable and is calculated to","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1119.02,1123.98"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/226","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"achieve a goal which is worth the effort, I'm for it.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1123.98,1127.8"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/227","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I like to hunt and fish.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1127.96,1129.64"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/228","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I sail.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1129.76,1130.22"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/229","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I like the bay as well as anybody.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1130.22,1132.02"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/230","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"My objection, I suppose, is to the regulators getting uptight about the","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1135.17,1140.69"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/231","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"dumping of 10 gallons of sewage privately while millions of gallons of","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1140.69,1147.97"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/232","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"it are dumped publicly.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1147.97,1149.33"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/233","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"The government, it seems to me, if it's going to act effectively","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1150.07,1153.45"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/234","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"in the role of regulator of pollution should get its own house","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1153.45,1158.15"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/235","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"in shape first and not claim a privileged right to pollute.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1158.15,1162.23"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/236","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"What I was getting at is what kind of costs are you","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1166.17,1170.21"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/237","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"looking at as the president of a diversified company?","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1170.21,1173.49"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/238","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Do you perceive this to be an expensive item?","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1175.26,1177.8"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/239","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Oh, yes.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1178.42,1178.86"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/240","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Our cost is not just what we have to do.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1181.56,1184.02"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/241","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"It's what everybody from whom we buy supplies and services have to","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1184.36,1188.16"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/242","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"do.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1188.16,1188.42"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/243","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"The consumer pays for everything in the end.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1189.2,1191.58"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/244","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"There's nobody else to pay for it.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1191.66,1193.14"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/245","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And as an intermediary in the production chain, we pay it and","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1194.38,1200.5"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/246","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"pass it on or else we go out of business.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1200.5,1203.28"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/247","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"If it's something we have to pay and can't pass on, then","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1203.44,1205.98"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/248","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"we have to quit doing that.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1205.98,1207.36"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/249","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And society may prefer not to have some goods or services, and","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1208.42,1212.08"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/250","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that's all right.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1212.08,1212.68"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/251","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"We're in the business of producing goods and services which we think","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1213.4,1217.52"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/252","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"society wants and needs.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1217.52,1219.36"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/253","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"If it doesn't want them or doesn't need them, we'll do something","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1219.8,1222.3"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/254","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"else.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1222.3,1222.88"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/255","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"While we're on the subject of the government, there's one other thing","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1225.4,1229.0"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/256","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I'd like to bring up.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1229.0,1229.88"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/257","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"In 1974, the FTC accused 12 energy corporations of interlocking directorates in","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1230.24,1237.88"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/258","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"violation of the Clayton Act, which prohibits anyone from serving on the","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1237.88,1241.52"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/259","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"boards of directors of two competing corporations if either has $1 million","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1241.52,1245.94"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/260","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"or more in capital surplus and undivided profits.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1245.94,1250.0"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/261","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Did this affect your industry in any way?","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1250.48,1253.22"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/262","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Oh, no, I don't think so.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1257.18,1258.56"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/263","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"You mean were people named in that?","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1260.68,1262.42"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/264","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I'm not sure that's an accurate quote of the Clayton Act.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1262.6,1265.9"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/265","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"As a matter of fact, I'd suggest that be checked.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1266.0,1268.34"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/266","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Nonetheless, I was named in that in the beginning because at one","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1273.0,1279.86"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/267","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"time I had been a director of Florida Gas Company at the","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1279.86,1283.96"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/268","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"same time I was a director of Kirby.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1283.96,1285.44"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/269","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"At the time the issue was brought up, I had not been","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1286.91,1289.53"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/270","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"a director of Florida Gas for over two years.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1289.53,1291.99"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/271","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And so when I brought that to their attention, I didn't get","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1292.65,1295.59"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/272","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"any further adverse publicity out of it.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1295.59,1297.63"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/273","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"There were other cases in which people resigned from directorships to...","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1300.61,1306.21"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/274","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"They're not that important to the individual and they're not worth the","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1308.1,1313.74"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/275","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"argument.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1313.74,1314.1"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/276","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I suppose there are some interlocking directorships which could be anti","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1314.84,1320.48"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/277","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"-competitive in nature.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1320.48,1321.66"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/278","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"In the oil industry, I don't really know of any competitive results","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1321.66,1327.9"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/279","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"of interlocking.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1327.9,1328.86"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/280","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"So this was not then a significant problem?","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1330.74,1332.9"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/281","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"No, I don't think so.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1334.38,1335.72"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/282","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I'd like to back up now back to 1957 when Kirby was","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1337.76,1342.9"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/283","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"formed.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1342.9,1343.44"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/284","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And it's striking to think of the diversity.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1344.64,1352.45"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/285","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"When did the company first begin gathering industries other than strictly oil","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1354.33,1362.47"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/286","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and gas companies?","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1362.47,1363.23"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/287","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Well, we became interested in that.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1364.35,1367.95"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/288","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"The history to that was this.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1372.28,1373.96"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/289","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"When Kirby was put together in 1957, we were a very exploration","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1374.7,1380.82"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/290","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"-oriented company.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1380.82,1382.48"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/291","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"That was at the time when the industry, for example, was drilling","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1383.58,1387.7"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/292","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"55,000 to 56,000 wells a year to find and produce","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1387.7,1393.34"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/293","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"oil and gas.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1393.34,1394.38"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/294","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And it was also at that time that substantial production was becoming","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1395.46,1401.54"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/295","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"available overseas in the Middle East and also in Venezuela.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1401.54,1405.62"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/296","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And the country was importing increasing amounts of oil because it could","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1406.48,1412.0"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/297","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"be produced cheaper overseas than it could here.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1412.0,1414.54"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/298","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Also, we had the Federal Power Commission controlling the price of gas,","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1416.0,1419.78"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/299","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"which could have gone up domestically because the prices had been set","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1419.78,1424.1"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/300","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"when there was excess of gas and they were too low.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1424.1,1426.74"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/301","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And it was priced on a marginal cost basis rather than a","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1427.52,1430.22"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/302","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"full cost basis.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1430.22,1431.08"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/303","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And with the holding of the gas price by regulation and the","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1432.18,1437.86"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/304","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"actual reduction in real oil price as a result of foreign competition,","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1437.86,1444.8"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/305","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"the domestic industry's rate of return went down to a figure which","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1445.6,1451.04"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/306","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"didn't justify the reinvestment going on, and it began to shrink.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1451.04,1455.54"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/307","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And actually, over a period of 15 years, the industry shrank from","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1456.4,1461.94"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/308","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"drilling 57,000 wells to drilling 25.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1461.94,1465.58"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/309","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Well, we could see in the late 50s what was going on.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1467.74,1473.16"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/310","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And so what first became apparent to us is that you could","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1473.8,1477.7"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/311","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"buy oil in the ground at someone else that already found cheaper","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1477.7,1480.46"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/312","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"than you could go out and find it.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1480.46,1481.82"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/313","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"So we cut back drastically on exploration and began to buy reserves","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1486.77,1490.97"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/314","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"in the ground.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1490.97,1491.45"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/315","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"By 1964, about everybody in the industry had figured that out, and","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1492.53,1497.75"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/316","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"were trying to do it.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1497.75,1498.61"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/317","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And so the price of oil in the ground went up to","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1498.63,1501.59"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/318","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"the point that the rate of return on capital invested in that","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1501.59,1504.85"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/319","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"fashion was unsatisfactory.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1504.85,1506.29"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/320","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And by 1964, we concluded that we were faced with alternatives of,","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1507.17,1513.83"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/321","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"one, going out of business, liquidating at that point, and selling assets","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1514.15,1519.49"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/322","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and distributing the proceeds to the stockholders.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1519.49,1521.59"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/323","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"The price for what you could sell the oil in the ground","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1521.93,1524.19"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/324","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"was good.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1524.19,1524.73"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/325","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Or taking the capital that had been accumulated and the management people","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1526.11,1532.05"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/326","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that we had and see if we could do something else worthwhile.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1532.05,1535.85"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/327","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"In other words, were there other goods and services society wanted that","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1536.09,1541.05"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/328","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"they were willing to pay a reasonable rate of return to get","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1541.05,1543.97"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/329","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that would justify the reinvestment in our structure of the capital available?","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1543.97,1550.77"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/330","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And the conclusion was that that's what we wanted to do.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1551.73,1554.05"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/331","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"When you considered acquiring new business, what did you look for?","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1558.52,1564.68"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/332","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Specifically, did you look for things that were related to oil and","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1566.18,1569.04"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/333","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"gas?","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1569.04,1569.38"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/334","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"For example, your barges could be...","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1569.44,1572.96"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/335","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"No, we didn't, because what we were looking for was diversity, which","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1572.96,1578.02"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/336","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"would give us alternative avenues of reinvesting cash flow, or in other","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1578.02,1583.96"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/337","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"words, of employing capital.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1583.96,1585.22"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/338","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"So we were more or less looking for things that were not","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1586.12,1589.34"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/339","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"specifically related, or at least had a different twist to them in","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1589.34,1594.06"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/340","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"some fashion.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1594.06,1594.66"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/341","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Which explains the building systems, the data processing, the financing.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1595.48,1600.4"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/342","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Right.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1600.92,1601.24"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/343","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Now, the things we did look for, first of all, the oil","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1602.1,1608.76"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/344","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and gas industry is a capital-intensive industry with capital-intensive","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1608.76,1616.31"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/345","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"operations.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1616.31,1616.97"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/346","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"So we looked for capital-intensive things.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1617.89,1620.23"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/347","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"In addition to that, our appraisal was that political power achieved by","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1620.55,1630.46"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/348","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"organized labor was increasing labor costs out of relation","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1630.46,1640.23"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/349","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"to what they should have been generally in the economy.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1640.23,1643.03"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/350","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"In other words, labor prices are set to some degree by monopolistic","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1643.03,1648.05"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/351","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"power, and that therefore, a business which uses high amounts of labor","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1648.05,1654.25"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/352","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"is going to be difficult.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1654.25,1656.51"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/353","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"We didn't have, in our management team, people as experienced with coping","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1658.61,1665.29"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/354","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"with that problem as we did with coping with the problems in","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1665.29,1668.17"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/355","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"the capital market.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1668.17,1668.93"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/356","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"So we tended to go to industries that were capital-intensive rather","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1669.41,1673.01"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/357","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"than labor-intensive.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1673.01,1674.01"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/358","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Then we looked for businesses which had some growth potential to them.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1676.22,1682.48"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/359","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"In other words, we're providing a good or a service which we","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1682.52,1685.06"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/360","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"thought people would continue to want in increasing quantity, and that's","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1685.06,1692.32"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/361","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"something we thought we could successfully manage.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1692.32,1695.24"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/362","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"One question which occurs to me that might interest people in the","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1698.07,1702.25"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/363","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"future listening to this tape is how you go about your decisions","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1702.25,1706.01"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/364","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"when you sit down and you calculate the monopolistic power of labor,","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1706.01,1710.69"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/365","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"something like that.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1710.91,1711.59"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/366","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Do you do it formally?","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1711.65,1712.55"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/367","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Do you do it mathematically?","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1712.77,1713.81"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/368","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Or are these more intuitive decisions?","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1714.43,1716.61"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/369","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Well, there's a very substantial intuitive component to it.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1717.99,1721.13"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/370","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"In the last 20 years, I'd say the mathematical approaches to decision","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1721.93,1729.41"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/371","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"-making have been improved.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1729.41,1731.23"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/372","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Electronic computers have given you better tools with which to manipulate data,","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1732.23,1738.77"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/373","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"match the figures.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1739.91,1740.77"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/374","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"So there is more that you can do at the mathematical and","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1743.03,1749.63"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/375","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"purely rational level than, let's say, there was 50 years ago.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1749.63,1754.97"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/376","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"But the intuitive component is very critical because the variables are so","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1755.65,1763.15"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/377","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"numerous and so complex and so unpredictable at the rational level that","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1763.15,1771.73"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/378","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I'm a believer that the intuitive component has to be critical.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1771.73,1776.09"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/379","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"That doesn't mean that I downplay whatever you can get at the","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1776.59,1781.73"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/380","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"rational level.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1781.73,1782.31"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/381","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I think it should be used where you can.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1782.33,1784.07"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/382","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"There's been a lot of attempts to do more in the mathematical,","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1785.05,1793.68"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/383","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"analytical area than I think is possible, and it's very easy to","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1794.62,1799.2"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/384","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"get seduced by it.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1799.2,1800.6"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/385","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"When it comes out of an IBM machine and all these big","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1802.5,1805.26"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/386","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"long pages of printout, it looks very impressive.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1805.26,1807.56"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/387","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"It's kind of analogous to a problem that I noticed in the","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1808.36,1812.4"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/388","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"oil industry a long time ago in looking for projects, exploration projects,","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1812.4,1818.62"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/389","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"places to drill wells.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1818.72,1819.76"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/390","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"You'll have what we call subsurface geology.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1820.44,1823.8"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/391","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"That's men who work on what's known as the subsurface as a","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1824.46,1827.58"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/392","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"result of wells that have already been drilled down there.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1827.58,1829.56"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/393","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And they make maps of what they think the subsurface looks like.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1830.1,1832.94"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/394","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And ordinarily, their maps have the contour lines on them in pencil","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1833.36,1836.44"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/395","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"because they feel tentative about what's really down there because they think","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1837.22,1841.74"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/396","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"the next well that's drilled's going to change this and I'm going","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1841.74,1844.24"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/397","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"to have to change these lines.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1844.24,1845.44"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/398","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"On the other hand, another technique is geophysical seismology.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1846.16,1851.04"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/399","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And seismologists work an area, they do a prospect, and they go","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1852.72,1857.14"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/400","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"on.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1857.14,1857.48"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/401","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"They don't sit and continue to watch particularly and they're not so","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1857.72,1860.52"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/402","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"interested in the wells that are drilled.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1860.52,1861.92"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/403","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"They tend to make their maps and put the lines on in","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1862.52,1865.46"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/404","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"ink because they're not going to go back and change them.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1865.46,1867.66"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/405","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And when you get to the management levels that are not technologically","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1868.44,1873.7"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/406","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"oriented, it impressed me that the ink lines are psychologically more","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1873.7,1879.42"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/407","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"impressive than the pencil lines.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1879.42,1881.08"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/408","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"They look right.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1881.54,1882.38"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/409","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And it's very easy to get seduced by that.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1882.88,1885.38"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/410","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And the same thing with these IBM printouts.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1885.98,1887.94"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/411","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"You take a program, you put a lot of stuff in it,","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1888.12,1890.8"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/412","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and it prints a lot of things back and it comes out","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1890.88,1893.0"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/413","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"with an answer and you think, gee, it looks so pretty, it","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1893.0,1895.64"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/414","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"must be right.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1895.64,1896.3"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/415","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"But it's all subject to this garbage in, garbage out factor.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1897.16,1900.8"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/416","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And it's very easy to be seduced by the technique.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1900.8,1905.6"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/417","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And so I'm impressed by what can be done with the techniques,","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1906.92,1911.3"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/418","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"but I try hard not to be over-impressed.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1911.66,1913.9"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/419","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And I think what you're describing, and I think the description is","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1914.08,1920.86"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/420","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"intuitive, plays a big part.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1920.86,1925.28"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/421","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"It may not be so much completely intuitive.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1925.32,1929.94"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/422","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"It's a sub-rational integration of knowledge into your outlook on things.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1931.12,1938.72"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/423","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"That's a good way of putting it.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1938.94,1940.28"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/424","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Do you find a kind of theoretical gap between older executives and","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1942.15,1947.91"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/425","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"younger executives coming out now well-versed in game theory or some","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1947.91,1954.92"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/426","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"techniques we've been talking about?","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1958.41,1963.7"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/427","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Have you noticed this?","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1963.74,1964.86"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/428","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Yes, to some extent.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1968.14,1969.44"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/429","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I don't say that it's been a serious problem to us, but","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1975.69,1979.61"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/430","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"if you were to pick 15 top executives through the organization, take","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1979.61,1988.38"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/431","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"age span, you'd see some correlation there.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1988.38,1991.58"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/432","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Some of the older ones have less respect for analytical techniques than","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1992.38,1998.6"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/433","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"the younger ones do.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=1998.6,1999.92"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/434","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I would say that maybe with age there's a tendency to rely","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2000.02,2006.48"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/435","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"more on this integrated experience and when you're younger to rely more","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2006.48,2011.18"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/436","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"on the rational or analytical approach, and partially that's because you don't","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2011.18,2016.9"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/437","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"have the experience when you're younger and it's partially a result of","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2016.9,2020.62"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/438","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"the fact that the older people haven't been exposed to it.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2020.62,2023.38"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/439","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"How did you come to be president?","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2032.02,2037.23"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/440","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I started at the top.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2039.05,2040.33"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/441","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I started as president when the company was small.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2042.19,2044.85"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/442","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"But prior to that, what had you done?","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2045.09,2046.95"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/443","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"How does a man rise to a top?","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2047.09,2048.969"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/444","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Not everyone gets to stay.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2051.739,2056.01"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/445","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Well, I started to work in the oil fields with a shovel","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2056.01,2062.51"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/446","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"in 1938.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2062.51,2063.429"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/447","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I went through World War II, which was a sort of force","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2064.59,2069.61"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/448","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"-feeding process of giving people responsibility.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2069.61,2072.83"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/449","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I find that nothing makes people responsible like responsibility.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2076.179,2081.36"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/450","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And one of the keys to becoming a chief executive, I think,","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2082.639,2087.139"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/451","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"is to have a taste for taking and then carrying out responsibilities.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2087.219,2092.98"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/452","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"In other words, gravitating towards responsibility and a willingness to be","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2093.159,2097.3"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/453","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"accountable.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2097.3,2097.76"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/454","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Can you spot a young executive that you think...","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2099.84,2102.78"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/455","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Before he's been given responsibility or after?","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2107.23,2110.25"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/456","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Well, I don't know that you can spot them too well on","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2110.73,2118.24"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/457","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"a small measure.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2118.24,2119.12"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/458","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"There was a movement in the 50s in which it was thought","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2119.68,2124.5"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/459","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that you could identify people very early that were going to sort","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2124.5,2130.75"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/460","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"of force-feed them and that would all work out fine.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2130.75,2135.65"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/461","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"In corporations, you had sort of separate tracks of progression for them.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2135.93,2141.51"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/462","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And that's been to a very substantial degree abandoned for the reason","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2142.23,2146.43"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/463","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that the special tracking didn't work.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2146.43,2149.63"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/464","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And as far as picking profiles, just analytically in the beginning and","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2149.77,2154.85"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/465","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"saying who's going to do it and who's not, I might think","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2154.85,2158.9"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/466","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I'd be willing to try to pick, but I wouldn't have a","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2158.9,2162.96"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/467","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"great deal of confidence in it.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2162.96,2164.2"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/468","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"My observation is that you find out who are going to be","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2164.3,2168.1"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/469","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"the executives by view of responsibility and seeing how they react to","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2168.1,2172.6"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/470","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"it, who takes it and carries it out, and have a yin","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2172.6,2177.29"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/471","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"for it.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2177.29,2177.81"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/472","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"This reminds me, do you administer what you","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2178.73,2188.57"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/473","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"observed among your peers?","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2188.57,2189.87"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/474","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Oh, some people do.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2193.73,2194.65"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/475","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And we have from time to time at some levels and at","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2194.73,2197.23"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/476","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"some state paces in the organization done it.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2197.23,2199.51"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/477","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"For instance, a department in which the man in charge of it","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2199.57,2205.69"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/478","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"had great confidence in some tests.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2205.69,2213.47"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/479","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I think there were some benefits to it.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2214.15,2215.87"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/480","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Had other screening programs.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2218.02,2219.84"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/481","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I think they may be helpful.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2223.85,2225.17"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/482","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"It depends on what you're trying to learn.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2225.37,2226.93"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/483","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I think they can identify certain, certainly you can identify certain manual","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2227.87,2232.51"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/484","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"skills.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2232.51,2233.03"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/485","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I think you can identify certain preferences.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2233.63,2235.99"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/486","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Certainly you take the standardized test for college admission.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2246.31,2252.82"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/487","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"They correlate well with how people perform in college.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2254.45,2258.41"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/488","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"So as a test to determine who can do college work as","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2259.39,2263.79"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/489","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"it's currently conceived and presented, they're good tests and they're useful","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2263.79,2268.83"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/490","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"for that.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2268.83,2269.43"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/491","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"As far as telling whether a man is going to be a","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2269.93,2274.65"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/492","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"productive employee, they tell you does he have, probably does he have","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2274.65,2281.24"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/493","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"good native intelligence.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2281.24,2282.5"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/494","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"For instance, if a guy came in with a 300 score and","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2283.12,2286.72"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/495","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"another guy with a 600, I would guess I could teach the","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2286.72,2289.72"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/496","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"600 guy something a whole lot quicker.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2289.72,2291.84"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/497","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And that he even is apt to have more zest for it.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2292.74,2295.62"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/498","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"So it's not that testing is not useful.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2296.38,2299.88"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/499","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"It's just that we have a greater tendency to take people at","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2300.72,2309.64"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/500","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"face value and see what they've done in the past and put","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2309.64,2314.1"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/501","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"them to work and see how they perform.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2314.1,2315.5"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/502","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And then we move people based on their performance, what we try","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2315.8,2319.22"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/503","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"to do.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2319.22,2319.56"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/504","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And we're small enough to be more individualistic than that.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2320.1,2323.4"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/505","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"If we had 600,000 employees like General Motors, I expect we'd","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2323.46,2327.6"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/506","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"try to institutionalize things in more formal ways to do it.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2327.6,2332.72"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/507","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"As long as we can be small enough to not have to","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2333.36,2335.78"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/508","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"do it that way, I think we can be probably more effective.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2335.78,2339.5"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/509","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"In other words, I think you come out better treating people as","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2341.47,2344.65"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/510","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"individuals and promoting and compensating them for their performance.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2344.65,2351.21"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/511","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Not on potential performance, not what they ought to be able to","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2351.39,2354.49"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/512","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"do, which tests might give you.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2354.49,2357.29"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/513","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"It's what they actually do that's important.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2357.73,2359.47"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/514","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"These last few questions haven't seemed sort of mundane in matter of","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2364.49,2368.53"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/515","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"fact to you, but it occurs to me that Americans spend a","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2368.53,2371.83"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/516","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"great deal of their week wanting to ask some of these questions","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2371.83,2379.82"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/517","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"about what goes on in this valuable social history.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2379.82,2382.44"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/518","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"With that in mind, how do you spend your working day?","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2383.32,2387.42"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/519","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Of what does a typical day consist of?","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2387.78,2389.58"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/520","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I don't know that I live with typical days.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2395.68,2399.32"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/521","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"They are all different.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2406.64,2409.46"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/522","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I spend a certain amount of time visiting with other people in","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2410.62,2416.78"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/523","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"the company, seeing what they're doing, what their problems are.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2416.78,2422.48"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/524","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"External, just physically in a day, I spend most of my time","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2429.05,2437.13"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/525","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"reading or talking to people.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2437.13,2439.85"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/526","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Sometimes sitting and staring out the window thinking.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2441.45,2443.85"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/527","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"When it's that general, I suppose that's typical.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2445.96,2449.28"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/528","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I do a certain amount of traveling, but again, it's to see","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2450.2,2452.92"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/529","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"people.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2452.92,2453.32"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/530","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"It depends on the phase, what phases we're in as to where","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2461.81,2465.29"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/531","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"we're riveted.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2465.29,2470.87"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/532","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Our problems may be, do we have enough money to do what","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2471.85,2478.09"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/533","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"we're already trying to do?","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2478.09,2479.21"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/534","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Do we have problems doing what","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2479.71,2482.49"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/535","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Do we have people problems, government problems, community problems, money","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2483.07,2492.76"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/536","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"problems?","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2492.76,2493.32"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/537","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"All those things have to be coped with.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2494.06,2496.3"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/538","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"So your job is a problem?","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2496.54,2498.36"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/539","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"That's a part of it.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2501.96,2503.0"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/540","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"If I am just reacting to problems which exist in my job,","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2503.9,2509.5"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/541","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I'm not doing it.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2509.6,2512.95"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/542","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"The other part of it and what's probably more important is the","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2512.95,2516.45"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/543","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"determination of goals.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2516.45,2518.01"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/544","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"What is it we want to do?","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2519.37,2521.35"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/545","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"What should we want to do?","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2522.39,2523.97"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/546","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I spend more time really concerned with that than I do with","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2529.33,2533.39"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/547","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"solving day-to-day problems.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2533.39,2535.01"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/548","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"If I'm down to solving too many day-to-day problems, it","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2535.77,2539.11"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/549","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"means I've got staff problems.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2539.11,2541.31"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/550","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"As president or chairman of the board...","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2548.51,2550.57"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/551","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Use the word goals in the plural.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2555.34,2557.32"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/552","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Now, an economist might...","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2557.32,2560.04"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/553","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Do you think that's true?","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2565.64,2566.5"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/554","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"No.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2566.8,2567.04"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/555","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I think that the articulation of the function of business in those","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2567.42,2572.86"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/556","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"terms is one of the things which is leading to the destruction","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2572.86,2578.78"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/557","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"of the private economy because that's not a socially acceptable goal, nor","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2578.78,2586.3"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/558","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"is it a personally acceptable goal.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2586.3,2588.44"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/559","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And if I tried to lead this organization on the basis that","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2588.44,2593.96"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/560","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"our function is to maximize profit, I would not be able to","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2593.96,2597.98"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/561","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"attract the kind of people I want to be in business with.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2597.98,2600.36"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/562","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Man does not live by bread alone, if I may.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2603.14,2605.46"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/563","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I state our goals differently.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2608.26,2610.28"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/564","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"We are here as managers, as fiduciaries of the capital owned by","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2611.28,2619.46"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/565","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"our stockholders.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2619.46,2620.1"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/566","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Our purpose is to use that capital and to use the people","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2621.79,2628.93"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/567","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and services which we can hire towards ends, which I would state","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2628.93,2635.47"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/568","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"in this fashion.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2635.47,2636.15"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/569","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Our primary purpose is to produce goods and services needed and wanted.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2637.05,2645.49"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/570","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Now, that's our goal.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2647.59,2648.47"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/571","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"There are several conditions to the accomplishment of that goal, and adequate","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2649.47,2656.11"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/572","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"profit is a necessary but not a sufficient condition to a successful","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2656.11,2664.37"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/573","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"economic venture.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2664.37,2665.29"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/574","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Profit in the private economy serves a number of functions.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2668.48,2673.12"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/575","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"One, it's the way we denominate things.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2674.04,2677.26"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/576","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"We pay the price of equity capital out of profit.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2677.88,2683.52"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/577","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"To me, that's an expense of the business, but nevertheless, in current","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2684.28,2687.98"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/578","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"accounting parlance, it's called profit.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2687.98,2690.74"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/579","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"To the extent that we make a profit in excess of that,","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2691.2,2694.7"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/580","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"it allows us to expand the business, it allows us to do","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2695.42,2699.8"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/581","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"different things, it allows us to take risks, and the fact that","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2699.8,2705.34"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/582","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"we can make a profit above what's merely necessary to compensate for","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2705.34,2710.08"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/583","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"capital is a measure of our performance.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2710.08,2713.32"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/584","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"It says, are we doing an efficient job?","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2713.64,2716.12"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/585","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"If we're out here producing goods and services which the public is","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2717.12,2720.96"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/586","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"not willing to pay enough for to let us make a profit,","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2720.96,2724.6"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/587","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"it raises the question, are we making the right goods and services?","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2724.92,2727.94"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/588","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"It's an allocator of capital.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2728.82,2730.78"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/589","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"If you take the socialist systems of Eastern Europe, one of the","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2730.78,2735.96"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/590","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"most serious problems they have is how to allocate capital because they've","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2735.96,2740.26"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/591","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"got no index as to what the economy really considers important.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2740.26,2743.94"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/592","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"All you know is what the bureaucracy considers important, and that can","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2744.48,2748.12"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/593","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"be very different from what the society really wants or really considers","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2748.12,2752.52"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/594","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"important.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2752.52,2752.94"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/595","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"So they don't have a guide to allocation of capital, and they","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2753.54,2756.48"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/596","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"use it with magnificent inefficiency.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2756.48,2759.64"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/597","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"We use it much more efficiently.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2760.86,2762.56"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/598","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"So profit is not an end in itself.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2764.52,2767.36"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/599","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"It's a means to an end, and it is a measure of","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2767.54,2771.18"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/600","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"performance, and it's critically important in those functions, and very few","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2771.18,2775.1"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/601","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"people understand that.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2775.1,2776.22"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/602","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"One other thing that might lead to some public confusion, it occurs","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2779.42,2783.92"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/603","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"to me, is the fact that you are a diversified company, and","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2783.92,2787.3"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/604","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"after the adventures of Mr. Ling a few years, some question about","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2787.3,2793.28"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/605","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"how big and how diversified companies could become or should become.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2793.28,2796.9"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/606","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Has that been a problem for you?","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2797.92,2799.78"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/607","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Have you been criticized on the basis of the fact that you","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2799.9,2802.46"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/608","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"are diversified?","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2802.46,2803.34"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/609","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Well, I think probably that's one reason the market doesn't value our","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2804.5,2808.46"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/610","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"stock or didn't value our stock any more highly than it did.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2808.46,2811.14"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/611","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Would you elaborate on that a little?","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2812.3,2814.86"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/612","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"It's curious.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2815.06,2815.56"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/613","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Well, why diversification in and of itself would be a cause for","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2816.56,2821.02"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/614","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"it?","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2821.02,2821.24"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/615","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Perhaps Mr. Ling gave the idea a bad name, for one thing.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2823.68,2827.4"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/616","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Also, I think there were some people who diversified without regard to","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2829.06,2835.91"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/617","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"their competence to manage the assets they were acquiring, and therefore did","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2835.91,2839.91"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/618","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"a poor job of it, and so the whole idea got a","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2839.91,2842.69"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/619","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"bad name.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2842.69,2843.21"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/620","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"We diversified so that we could employ capital more efficiently.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2843.97,2847.39"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/621","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"The tax structure in which we exist makes it very","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2847.39,2856.5"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/622","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"disadvantageous for us to take excess capital and give it back to","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2856.5,2861.04"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/623","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"the stockholder and have him reinvest it in something else because the","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2861.04,2864.86"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/624","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"government wants up to 70% of it.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2864.86,2868.2"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/625","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"At that point, it's very difficult for him to take it, give","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2868.64,2871.9"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/626","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"the government 70% of it, and reinvest the other 30 in","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2871.9,2876.8"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/627","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"something that will do as much harm as leaving it.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2876.8,2879.48"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/628","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"It's inefficiently invested here.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2879.48,2881.02"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/629","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Now, if we were one business company, we have the choices of","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2882.18,2885.58"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/630","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"reinvesting it in that business or giving it to the stockholder who","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2885.58,2889.58"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/631","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"then gives a big chunk of it to the government.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2889.58,2891.48"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/632","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"If we're a diversified company, we have the choice without going through","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2892.92,2898.36"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/633","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"the tax collector's hands of taking capital out of one enterprise and","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2898.36,2902.28"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/634","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"putting it in another, which will then, we hope, produce goods or","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2902.28,2906.04"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/635","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"services which are more desired by society.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2906.04,2908.8"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/636","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Well, I must say that I had the impression that the growth","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2910.3,2914.18"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/637","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"of your company was very controlled.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2914.18,2916.48"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/638","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"It was intelligent diversification.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2917.3,2918.88"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/639","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"That was our aim.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2919.7,2920.86"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/640","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"In other words, we did not grow for growth alone.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2921.56,2925.04"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/641","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"That was not our aim, and we used very little stock in","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2925.12,2927.66"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/642","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"the process.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2927.66,2928.12"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/643","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"We mostly used internally generated funds and borrowed funds.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2929.2,2933.18"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/644","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Well, given these problems, what is the future of the diversified company?","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2935.3,2938.9"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/645","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"In general, why not this company, and would you care to share","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2940.85,2945.51"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/646","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"some thoughts with us about the future of the genre?","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2945.51,2948.89"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/647","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I would say that the go-go approach to it that some","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2952.0,2956.5"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/648","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"people took in the 60s is past.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2956.5,2958.92"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/649","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I don't think we'll see that again.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2959.68,2961.24"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/650","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Maybe we will, but at least we shouldn't.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2961.38,2963.9"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/651","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"But the idea that a company should only produce in one market,","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2964.06,2969.56"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/652","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"there are some other advantages to some diversity.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2969.56,2976.64"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/653","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"It's very educational to management to be able to see how things","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2977.66,2983.36"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/654","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"perform in more than one area of the economy.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2983.36,2986.18"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/655","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"For instance, some people in the economy do things better than others,","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2986.68,2989.88"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/656","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and if you get exposed to more areas, you're apt to learn","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2990.6,2994.16"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/657","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"faster and learn more and be a better manager.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2994.16,2997.56"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/658","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"You're apt to be a better trustee of capital and labor.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=2997.56,3002.46"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/659","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I don't take the position that the reasons for which we did","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=3010.33,3016.15"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/660","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"what we did were invalid.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=3016.15,3017.77"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/661","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I'm saying we exist in an environment in which they were not","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=3019.35,3024.29"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/662","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"as advantageous as I think they should be.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=3024.29,3032.34"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/663","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"We have sold the building systems company transaction earlier this week.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=3043.26,3050.6"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/664","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"We have a contract to sell the producing leasehold interests.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=3051.34,3055.26"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/665","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Assuming that sale is closed, there are some conditions to it.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=3062.62,3065.7"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/666","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"We've also indicated that we might sell the finance company operations,","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=3067.92,3072.32"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/667","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"although the environment for such a sale is adverse at the present","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=3072.6,3078.21"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/668","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"time.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=3078.21,3078.55"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/669","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"We will distribute a substantial amount of cash to our stockholders, then","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=3081.07,3085.75"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/670","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"we will probably end up distributing to them a share of stock","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=3085.75,3090.17"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/671","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"in Caribbean Finance Company, which will then be freestanding.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=3090.17,3093.71"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/672","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"We will distribute a share of stock in Kirby Exploration Company, which","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=3095.71,3101.43"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/673","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"will be the parent company of the rest of the operations, Dixie,","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=3101.43,3105.63"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/674","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Carriers, Davenport, MTC.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=3105.97,3108.65"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/675","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"All this goes through as expected.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=3113.56,3116.72"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/676","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"There are conditions that may not be our intention to come out","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=3116.72,3127.66"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/677","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"of cash.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=3127.66,3128.1"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/678","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Let's say for a share of stock which a stockholder owned a","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=3130.22,3133.18"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/679","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"year ago that we're selling for $15.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=3133.18,3135.08"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/680","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"By the end of this year, our hope is that he will","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=3136.16,3140.58"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/681","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"have gotten $25 or $30 in cash plus a share of stock.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=3140.58,3145.12"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/682","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Is there a possibility that the process will start?","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=3152.69,3155.43"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/683","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Diversification.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=3159.84,3160.32"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/684","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"The building systems, when","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=3171.43,3184.27"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/685","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I noted that in my research, that called to mind the prospect","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=3184.27,3187.49"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/686","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"of Arab investment in Houston.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=3187.49,3189.47"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/687","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Is this...","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=3190.05,3190.83"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/688","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I know this might be out of your area of expert transaction,","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=3190.83,3197.2"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/689","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"are Arabs increasingly investing in Houston?","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=3197.46,3200.64"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/690","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Well, it's apparently so atypical that it's the only one anybody can","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=3201.04,3204.62"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/691","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"find.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=3204.62,3204.9"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/692","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I was afraid of that.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=3205.28,3206.5"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/693","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I think it's a good thing.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=3208.92,3210.38"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/694","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"It seems to me that some mutuality of interest with the Middle","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=3210.56,3216.6"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/695","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"East oil producers would be highly advantageous to them because even if","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=3216.6,3220.78"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/696","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"we adopt a good energy policy domestically, I think it makes sense","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=3220.78,3226.08"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/697","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"for us to import some crude from the Middle East.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=3226.08,3229.3"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/698","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I just don't think we should be as dependent on it as","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=3229.62,3232.0"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/699","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"we are now.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=3232.0,3232.58"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/700","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"For instance, if we were importing 20% or 25% even","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=3233.26,3238.74"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/701","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"of our crude oil, I wouldn't be too concerned about it.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=3238.74,3243.02"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/702","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"But when we start importing 50%, it gives me pause.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=3243.02,3247.68"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/703","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Right now we're importing about 40%.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=3248.26,3251.66"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/704","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"In other words, it can be taken away fairly arbitrarily.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=3254.25,3258.83"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/705","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And when it gets to be too big a point, it becomes","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=3259.83,3262.95"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/706","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"too domestically disruptive.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=3262.95,3264.59"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/707","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Even the embargo in 1973 was disruptive to a degree we're still","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=3265.35,3269.43"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/708","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"paying the price.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=3269.43,3270.31"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/709","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"A lot of the controversy in Congress and the inability of Congress","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=3270.93,3276.59"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/710","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"to do the rational thing is a result of political pressures, which","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=3276.59,3283.47"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/711","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"they feel, which result from the embargo of 1973 when people had","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=3283.47,3287.63"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/712","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"to wait in lines to get to the gas pump and prices","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=3287.63,3291.35"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/713","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"jumped from $0.35 a gallon to $0.50 a gallon in","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=3291.35,3294.65"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/714","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"a six-month period.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=3294.65,3296.45"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/715","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Anytime you have that kind of disruptive thing, I guess the politicians","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=3298.43,3302.87"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/716","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"feel the brunt of it and it makes it difficult for society","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=3302.87,3306.97"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/717","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"to function.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=3306.97,3307.47"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/718","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And I'd like to see us not be subject to that.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=3307.93,3310.27"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/719","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"So to get more dependent than we were then seems very unwise.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=3311.19,3316.05"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/720","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"But to the degree that we're going to have Arab oil, if","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=3317.23,3322.07"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/721","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"they had interest in our economy to where there were a mutuality","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=3322.07,3325.87"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/722","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"of interest and if they hurt us, it hurts them back, I","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=3325.87,3330.79"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/723","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"think it makes sense.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=3330.79,3331.65"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/724","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Somebody's described it as having mutual hostages.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=3332.55,3335.59"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/725","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Well, I don't think that things are necessarily that unfriendly.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=3336.21,3339.27"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/726","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I would call it interdependence or mutuality of beneficial interest.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=3339.69,3344.77"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/727","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Thanks.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=3345.59,3345.99"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/728","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Good thing.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=3346.09,3346.45"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/729","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I did not anticipate that there was extensive Arab investment in Houston","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=3348.13,3352.47"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/730","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"but I thought that I would be remiss if I didn't at","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=3352.47,3355.41"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/731","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"least follow up that quote.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=3355.41,3356.73"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/732","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"There have been Arab investments in real estate, I understand, but I","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=3356.73,3360.13"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/733","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"don't really know anything about them.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=3360.13,3361.33"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/734","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"The only thing I know they bought is an island off of","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=3363.09,3365.95"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/735","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"North Carolina.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=3365.95,3366.75"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/736","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"They got a lot of publicity over that.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=3367.41,3369.35"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/737","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"But there's been money in real estate in Houston.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=3370.13,3374.18"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/738","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I've not run across any first hand.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=3377.18,3378.88"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/739","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Well, I have now gone through all of my prepared questions.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=3381.32,3384.94"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/740","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Perhaps I've missed...","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=3387.6,3398.1"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/741","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Oh, I don't think of anything.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=3398.1,3399.36"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/742","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I suppose that if I say more it would be at least","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=3399.54,3406.31"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/743","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"in part repetitious.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=3406.31,3407.97"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/744","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I might add one other.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=3407.97,3413.4"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/745","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"One discouraging aspect of being in the business world and particularly in","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=3421.58,3429.02"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/746","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"the gas business is that the businessman is a target exploitation by,","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=3429.02,3439.0"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/747","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I feel, as a businessman, both from government and from the intellectual","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=3460.59,3466.17"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/748","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"community in both areas, deserves","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=3466.17,3488.38"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/749","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and I advise.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=3488.38,3499.64"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/750","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"For instance, the businessman, a","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=3500.36,3510.52"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/751","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"bloated guy, given to show experience in the business world, there are","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=3510.52,3517.08"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/752","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"those people.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=3517.08,3517.68"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/753","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I think there are people in nearly any area of endeavor that","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=3518.12,3520.96"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/754","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"don't meet adequate standards of humanity.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=3520.96,3525.66"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/755","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"As far as finding people of honesty and whole integrity, there's more","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=3528.35,3536.34"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/756","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"of them in the business world than any arena in which I","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=3536.34,3540.7"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/757","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"find no difficulty in the business world of integrity to do business","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=3540.7,3546.24"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/758","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"with.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=3546.24,3546.56"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/759","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I don't really expect gratitude.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=3557.97,3559.55"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/760","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Yeah, I would describe it.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=3561.56,3565.0"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/761","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"The lecturer recently noted that one solution to the problems are to","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=3565.0,3574.56"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/762","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"train businessmen who were statesmen, not just profit maximists.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=3576.64,3581.78"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/763","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Do you consider yourself to be such a statesman?","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=3585.22,3587.54"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/764","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"No, nor do I consider myself.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=3587.98,3590.02"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/765","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I think the businessman's function is to provide the goods and services","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=3592.01,3597.47"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/766","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"needed and wanted by the society in which he lives, and I","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=3598.11,3602.79"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/767","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"think that's a very admirable goal and a very adequate one to","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=3602.79,3605.73"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/768","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"live a satisfactory life off of.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=3605.73,3607.43"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/769","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"A man works for several things.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=3607.99,3609.73"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/770","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"He works for money.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=3609.83,3610.73"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/771","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"That money may represent necessities.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=3611.45,3613.27"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/772","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"It may represent power.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=3613.39,3614.49"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/773","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"It may represent prestige or other things, but you can say he","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=3614.63,3618.41"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/774","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"works for money.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=3618.41,3619.07"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/775","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"But you can't motivate a man with money alone.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=3619.67,3622.69"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/776","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"In addition to that, he works because he wants to see something","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=3623.39,3626.75"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/777","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"done that he can feel proud about.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=3626.75,3629.37"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/778","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"He wants to be a part of something that he considers worthwhile.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=3629.81,3632.47"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/779","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"In addition to that, he wants to accomplish things individually that he","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=3634.01,3638.29"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/780","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"can look back and say, I did something worthwhile.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=3638.29,3640.67"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/781","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"In other words, that's a good piece of work I did.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=3641.37,3643.21"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/782","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"That was a good piece of thinking.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=3643.67,3645.07"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/783","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"That's a good widget I turned out.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=3645.83,3647.79"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/784","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"That's a good piece of machining that I did.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=3648.07,3650.03"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/785","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"That's a good well I laid down.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=3650.09,3651.67"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/786","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I got this boat from point A to point B without crashing","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=3651.67,3655.99"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/787","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"into anybody or anything else, and that was a good job, and","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=3655.99,3658.79"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/788","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"there were adverse circumstances, and I got it through bad weather, and","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=3658.79,3663.31"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/789","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"nobody got hurt, and the equipment wasn't torn up, and I feel","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=3663.31,3667.83"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/790","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"good about that.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=3667.83,3668.63"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/791","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"That's altogether independent of what he got paid for doing it.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=3669.79,3672.77"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/792","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Now, it's not that you don't have to pay the going wage,","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=3673.59,3677.53"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/793","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"or you want to, but that's not the whole thing, and there's","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=3677.71,3683.35"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/794","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"just a solid misconception about economic enterprise, I think, currently in the","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=3683.35,3689.33"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/795","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"intellectual community.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=3689.33,3690.25"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/796","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"There are a lot of misconceptions about a lot of things.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=3692.99,3695.35"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/797","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Well, it's been a very informative interview.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=3701.18,3704.34"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/798","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I want to thank you for your time, and on behalf of","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=3704.96,3709.49"},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/799","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"the Houston Metropolitan Archives and Research, enjoy the visit.","format":"text/plain"},"target":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707#t=3709.49,3716.14"}]},{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725","type":"AnnotationPage","label":{"en":["English [Transcript]"]},"items":[{"id":"https://houstonlibrary.aviaryplatform.com/collections/2509/collection_resources/113029/file/215707/transcript/71725/annotation/800","type":"Annotation","motivation":"subtitling","body":{"type":"TextualBody","value":"https://d9jk7wjtjpu5g.cloudfront.net/file_transcripts/associated_files/000/071/725/original/OH0203JeffMontgomery.vtt?1728414709","format":"text/vtt","language":"en"},"target":"https://d9jk7wjtjpu5g.cloudfront.net/file_transcripts/associated_files/000/071/725/original/OH0203JeffMontgomery.vtt?1728414709"}]}]}]}