When the next President of the United States calls and offers you a job, it’s hard to say no. But it wasn’t difficult for Fred Bucy, president and chief operating officer of Texas Instruments. Bucy, who serves as a senior consultant to the Defense Department, was recently offered a position in the Reagan administration as Deputy Secretary of Defense.

When the transition team came calling, Bucy had no choice but to turn down the number two position in the Defense Department. Reason: He’s got too much trouble at home. Over the past few months, TI has been hit hard by the recession and has watched its stock drop about 40 points. And if the economic problems weren’t enough, TI recently suffered an embarrassing $350,000 gold and platinum theft from its supposedly security-tight North Dallas plant.


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