Old Skeletons: Legal Woes Dog a Budget Cutter Paul Thayer

Legal woes dog a budget cutter

When Paul Thayer became Deputy Secretary of Defense a year ago, he brought a hard-nosed businessman's approach to the Pentagon bureaucracy. As chairman of both the LTV Corp., a Dallas-based energy, steel and aerospace conglomerate, and the U.S. Chamber of Commerce, he had complained about wasteful Government spending, including the military's. His new job as No. 2 at the Pentagon, with particular responsibility for weapons procurement, gave Thayer the chance to use his private-sector savvy to pare public-sector fat.

But Thayer's business career may prove to be more a burden than a boon.

This week the Securities and...

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