We have also seen Washington take a more enlightened attitude about anti-trust considerations. No longer does "domestic market share" predominate in anti-trust rulings. Now world share is considered. This is as it should be for in today's world your most formidable competitors may well be international. G. E. worries more about Siemens or Hitachi than about Westinghouse. U. S. interest rates have declined and this is a favorable factor in encouraging increased investment in productivity and in research and development. Our fiscal deficit remains frightening, and we still don't have our fiscal house in order. Gramm-Rudman is a step but not exactly "a giant step for all mankind." It is a product of political timidity but at least it is tacit recognition that there is a problem. Hopefully we can muster up the political courage to reduce government outlays drastically and to increase revenues to moderate and eventually to eliminate the federal deficit. In the private sector we have seen some hard-nosed management moves - some with labor's realistic acquiescence - to restore U. S. competitiveness. More needs to be done but we are in motion. We have yet to recognize the linkage between our form of taxation and our international competitiveness. The tax proposals under consideration are not helpful but the Senate version is the least harmful. We need tax reform that encourages savings and investment and makes possible the productivity gains so urgently needed. We still have miles to travel but I believe that we are on the right road headed in the right direction. Let's keep it that way. Now I've told some personal anecdotes, mentioned international trade, not been too profound, nor hopefully too long. Please know that I genuinely believe that it is a big deal for me to have my name added to a list that includes Steve Bechtel, Marriner Eccles, Tom Clausen, Dave Packard, Edgar Kaiser, Tom Watson, Bill Allen and the other distinguished recipients of this award. You do me great honor. Thank you for your kind attention and for the immense personal compliment that you have paid to me by this award and your presence here this evening. 7.