J. Peter Grace
Encyclopedia
Joseph Peter Grace was a multimillionaire America
n industrialist and conglomerateur of Irish Catholic
heritage. He was president of the diversified chemical company, ' for 48 years, making him the longest reigning CEO of a public company.
Born in Manhasset, New York
, he succeeded his father, Joseph Peter Grace, Sr.
(1872–1950), as President and CEO of W. R. Grace and Company
in 1945 when his father suffered a stroke
. The firm was founded by his grandfather William R. Grace
, the first Roman Catholic to be elected Mayor of New York City
. His maternal grandfather was Charles B. Macdonald
, a major figure in early American golf
who built the first 18-hole course in the United States. http://query.nytimes.com/gst/abstract.html?res=9405E1DB113EE033A25751C0A96E9C946997D6CF. He was devoutly Catholic
.
pistol (for terrorists), and, as a conservative Democrat
, took out a full-page ad in The New York Times
to support President Ronald Reagan
's tax cuts. http://www.findarticles.com/p/articles/mi_m1282/is_v36/ai_3172552
"There is nothing I dislike more than being a loser in anything," he said in an interview in Fortune
magazine.
.
President Reagan, in announcing the selection of J. Peter Grace to lead The Grace Commission
on waste and inefficiency in the Federal government, said:
Mr. Grace, a Democrat, was asked what he would say to the campaign theme of Walter Mondale
, the 1984 Democratic Presidential candidate, that higher taxes would be required to ease the deficit regardless of who wins the November election.
"I'd tell him he's nuts," Mr. Grace said. "He's wrong. He's wrong."
by the University of Notre Dame
. In 1984, Mr. Grace received The Hundred Year Association of New York
's Gold Medal Award "in recognition of outstanding contributions to the City of New York." Grace was a member of the international organization the Sovereign Military Order of Malta. The Order of Malta's mission is to serve the sick and poor through the establishment of hospitals and clinics around the world. Grace was a member of the conservative American organization the Council for National Policy
. He was responsible for the ', and co-founded "Citizens Against Government Waste
" with Jack Anderson in 1984.
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
n industrialist and conglomerateur of Irish Catholic
Irish Catholic
Irish Catholic is a term used to describe people who are both Roman Catholic and Irish .Note: the term is not used to describe a variant of Catholicism. More particularly, it is not a separate creed or sect in the sense that "Anglo-Catholic", "Old Catholic", "Eastern Orthodox Catholic" might be...
heritage. He was president of the diversified chemical company, ' for 48 years, making him the longest reigning CEO of a public company.
Born in Manhasset, New York
Manhasset, New York
Manhasset is a hamlet and neighborhood in Nassau County, New York, on the North Shore of Long Island. As of the United States 2010 Census, the population was 8,080....
, he succeeded his father, Joseph Peter Grace, Sr.
Joseph Peter Grace, Sr.
Joseph Peter Grace, Sr. was an American businessman, polo player, and owner of Thoroughbred horses in the sport of steeplechase racing....
(1872–1950), as President and CEO of W. R. Grace and Company
W. R. Grace and Company
W. R. Grace and Company is a Columbia, Maryland, United States based chemical conglomerate.The company has two main divisions, Davison Chemicals and Performance Chemicals. The Davison unit makes chemical catalysts, refining catalysts, and silica-based products that let other companies make...
in 1945 when his father suffered a stroke
Stroke
A stroke, previously known medically as a cerebrovascular accident , is the rapidly developing loss of brain function due to disturbance in the blood supply to the brain. This can be due to ischemia caused by blockage , or a hemorrhage...
. The firm was founded by his grandfather William R. Grace
William Russell Grace
William Russell Grace was the first Roman Catholic mayor of New York City and the founder of W. R. Grace and Company.-Biography:He was born on May 10, 1832 in Ballylinan, County Laois, Ireland....
, the first Roman Catholic to be elected Mayor of New York City
Mayor of New York City
The Mayor of the City of New York is head of the executive branch of New York City's government. The mayor's office administers all city services, public property, police and fire protection, most public agencies, and enforces all city and state laws within New York City.The budget overseen by the...
. His maternal grandfather was Charles B. Macdonald
Charles B. Macdonald
Charles Blair Macdonald was a major figure in early American golf. He built the first 18-hole course in the United States, was a driving force in the founding of the United States Golf Association, won the first U.S...
, a major figure in early American golf
Golf
Golf is a precision club and ball sport, in which competing players use many types of clubs to hit balls into a series of holes on a golf course using the fewest number of strokes....
who built the first 18-hole course in the United States. http://query.nytimes.com/gst/abstract.html?res=9405E1DB113EE033A25751C0A96E9C946997D6CF. He was devoutly Catholic
Catholic
The word catholic comes from the Greek phrase , meaning "on the whole," "according to the whole" or "in general", and is a combination of the Greek words meaning "about" and meaning "whole"...
.
Personality
Peter Grace was the kind of man who, at age seventy, Indian-wrestled fellow chairmen of the board at his desk, showered in the evening to save time getting to work in the morning, wore a BerettaBeretta
Fabbrica d'Armi Pietro Beretta is an Italian firearms manufacturer. Their firearms are used worldwide for a variety of civilian, law enforcement, and military purposes. It is also known for manufacturing shooting clothes and accessories. Beretta is the oldest active firearms manufacturer in the...
pistol (for terrorists), and, as a conservative Democrat
Democratic Party (United States)
The Democratic Party is one of two major contemporary political parties in the United States, along with the Republican Party. The party's socially liberal and progressive platform is largely considered center-left in the U.S. political spectrum. The party has the lengthiest record of continuous...
, took out a full-page ad in The New York Times
The New York Times
The New York Times is an American daily newspaper founded and continuously published in New York City since 1851. The New York Times has won 106 Pulitzer Prizes, the most of any news organization...
to support President Ronald Reagan
Ronald Reagan
Ronald Wilson Reagan was the 40th President of the United States , the 33rd Governor of California and, prior to that, a radio, film and television actor....
's tax cuts. http://www.findarticles.com/p/articles/mi_m1282/is_v36/ai_3172552
"There is nothing I dislike more than being a loser in anything," he said in an interview in Fortune
Fortune (magazine)
Fortune is a global business magazine published by Time Inc. Founded by Henry Luce in 1930, the publishing business, consisting of Time, Life, Fortune, and Sports Illustrated, grew to become Time Warner. In turn, AOL grew as it acquired Time Warner in 2000 when Time Warner was the world's largest...
magazine.
Politics
In the Kennedy administration, J. Peter Grace was head of the Commerce Department Committee on the Alliance for ProgressAlliance for Progress
The Alliance for Progress initiated by U.S. President John F. Kennedy in 1961 aimed to establish economic cooperation between the U.S. and South America.-Origin and goals:...
.
President Reagan, in announcing the selection of J. Peter Grace to lead The Grace Commission
The Grace Commission
The Private Sector Survey on Cost Control , commonly referred to as The Grace Commission, was an investigation requested by United States President Ronald Reagan, in 1982. The focus of it was waste and inefficiency in the US Federal government. Its head, businessman J. Peter Grace, asked the...
on waste and inefficiency in the Federal government, said:
We have a problem that's been 40 years in the making, and we have to find ways to solve it. And I didn't want to ruin your appetites, so I waited till now to tell you this, but during the hour we're together here eating and talking, the Government has spent $83 million. And by the way, that includes the price of your lunch. [Laughter] Milton FriedmanMilton FriedmanMilton Friedman was an American economist, statistician, academic, and author who taught at the University of Chicago for more than three decades...
is right. There really is no such thing as a free lunch. The interest on our debt for the last hour was about $10 million of that.
In selecting your Committee, we didn't care whether you were Democrats or Republicans. Starting with Peter Grace, we just wanted to get the very best people we could find, and I think we were successful.
I'll repeat to you today what I said a week ago when I announced Peter's appointment: Be bold. We want your team to work like tireless bloodhounds. Don't leave any stone unturned in your search to root out inefficiency.
Mr. Grace, a Democrat, was asked what he would say to the campaign theme of Walter Mondale
Walter Mondale
Walter Frederick "Fritz" Mondale is an American Democratic Party politician, who served as the 42nd Vice President of the United States , under President Jimmy Carter, and as a United States Senator for Minnesota...
, the 1984 Democratic Presidential candidate, that higher taxes would be required to ease the deficit regardless of who wins the November election.
"I'd tell him he's nuts," Mr. Grace said. "He's wrong. He's wrong."
Awards and memberships
In 1967, he was awarded the Laetare MedalLaetare Medal
The Laetare Medal is an annual award given by the University of Notre Dame in recognition of outstanding service to the Roman Catholic church and society...
by the University of Notre Dame
University of Notre Dame
The University of Notre Dame du Lac is a Catholic research university located in Notre Dame, an unincorporated community north of the city of South Bend, in St. Joseph County, Indiana, United States...
. In 1984, Mr. Grace received The Hundred Year Association of New York
The Hundred Year Association of New York
The Hundred Year Association of New York, founded in 1927, is a non-profit organization in New York City aimed at recognizing and rewarding dedication and service to the City of New York by businesses and organizations that have been in operation in the city for a century or more and by individuals...
's Gold Medal Award "in recognition of outstanding contributions to the City of New York." Grace was a member of the international organization the Sovereign Military Order of Malta. The Order of Malta's mission is to serve the sick and poor through the establishment of hospitals and clinics around the world. Grace was a member of the conservative American organization the Council for National Policy
Council for National Policy
The Council for National Policy , is an umbrella organization and networking group for social conservative activists in the United States...
. He was responsible for the ', and co-founded "Citizens Against Government Waste
Citizens Against Government Waste
Citizens Against Government Waste is a 501 non-profit organization in the United States. It functions as a think-tank, 'government watchdog', and advocacy group for fiscally conservative causes...
" with Jack Anderson in 1984.
External links
- J. Peter Grace - SourceWatch http://www.sourcewatch.org/index.php?title=J._Peter_Grace
- W. R. Grace & Co. (see grace.com)