14 you know, capital formation is a problem, but really, Reg, you ought to call it job formation because when you create capital, you create jobs. He was a more effective salesman in that respect than I was. CARR: This was back in seventy-five. JONES: That was in seventy-five, yeah. Now, we continued our discussions with the labor/management group. The fact that I'm chairman of the Taxation Task Force of the Business Roundtable, of course, gives me an opportunity to disucuss with the labor leaders the positions we feel should be taken. We don't always sell our positions I must hasten to add, but quite frequently we do have areas in which we develop consensus and the labor/management group, for example, in the course of 1975 was able to go to the Administration with its consensus positions on housing, on tax legislation, on some positions that should be taken with respect to construction in the electric utility industry and a number of other items and it was that group that offered its services to this Administration by a letter which George Meany and I signed, a letter addressed to Secretary Blumenthal, saying that we had this group and that if we could be of service to the Administration we would be happy to discuss our