On the evening of Ronald Reagan’s election as the fortieth president of the United States, Walter Cronkite had just announced a Republican sweep of Illinois when Reagan, following a brief victory speech, began moving out through a crowd of enthusiastic supporters at the Century Plaza Hotel in Los Angeles. Former president Gerald Ford had joined Cronkite in the CBS anchor booth in New York, and Cronkite was angling for a way to hook the two of them up electronically for a congratulatory chat.
CALVIN COOLIDGE IS CREDITED WITH OBSERVING that “the business of America is business.” The business of America’s presidential inaugurations is business too, especially in Washington. The election of Ronald Reagan as the nation’s 40th president was supposed to be good for business. In Washington at least, that seems to be the case. Owners of many local businesses are happily bracing for what they believe will be a series of economic