There was also reshuffling to be done on the Schlumberger board. One notable Baird recalls is the case of Felix Rohatyn. This was the Lazard banker who had become a household name, at least in New York City, during the mid 1970s. Called in by New York Governor Hugh Carey to negotiate a solution to the city’s near-bankruptcy in 1975, Rohatyn established the Municipal Assistance Commission, of which he became chairman. A fraught period of wage freezes, layoffs, balanced-budget rules and other measures immediately followed, and these gestures seemed sufficient to result in a Federal bailout of the city only months later. The governor gave public credit to Rohatyn at the time, which he was more than happy to accept. His name, at least in
