Washington DC Metro

The Hoover Dam

George Shultz has a long history with the Bechtel Corporation. Time offers a tidy account of Shultz’s Bechtel years in a 1982 article – upon his appointment as Secretary of State:

“Shultz resigned as Treasury Secretary in 1974 to join Bechtel, one of the world's largest construction and engineering conglomerates. He became president the following year. Among its projects: the Hoover Dam, the Washington and San Francisco subway systems, 84 nuclear power plants, and the $20 billion Jubail Project, which is creating a new industrial metropolis in the sands of Saudi Arabia. Among his other duties, Shultz acts as a kind of secretary of state of the privately held, San Francisco-based company under Chairman Stephen Bechtel. His tasks as president of the group include coordinating international projects, articulating company policy and developing strategy for future markets. Half the company's revenue comes from abroad.”

George Shultz retired from the Bechtel Board of Directors in April 2009. Bechtel honors Shultz’s leadership on their website:

“When Shultz joined Bechtel in 1974 as executive vice president, he already had experienced and accomplished more at age 53 than most do in a lifetime. A renowned economist, distinguished statesman, and extraordinary business leader, Shultz’s career encompassed academia, government, and industry. As dean of the University of Chicago’s business school, he advised the nation’s leaders. As secretary of state under President Reagan, he helped keep America strong and at peace. As president (1975 to 1982), director, and senior counselor at Bechtel, he shared his wisdom, dedication, energy, and intelligence for more than a quarter of a century.”