Victor M. Longstreet
Encyclopedia
Victor M. Longstreet was an economist
and at one time the president of the Boston Consulting Group
. From 1962 to 1965, he was United States
Assistant Secretary of the Navy (Financial Management and Comptroller)
.
, and graduated from duPont Manual High School in 1925. He was educated in economics
at Harvard University
, taking his degree magna cum laude in 1930.
His first job after graduating was working as an economist
at AT&T
. He later took a job as an economist at the Federal Reserve Board. During World War II
, he served in the United States Army
.
After the war, Longstreet joined the United States Department of State
's economic development
division. In 1948, he joined the Economic Cooperation Administration
and worked in their office in the Netherlands
, and later Paris
, until 1952. Upon returning to the U.S., in the mid-1950s, he became vice president and manager of the Louisville branch of the Federal Reserve Bank of St. Louis. Next, he left the public sector to become director of management research at Schering Corporation.
In 1962, President of the United States
John F. Kennedy
nominated Longstreet as Assistant Secretary of the Navy (Financial Management and Comptroller)
, and Longstreet subsequently held this office from September 14, 1962 until December 31, 1965.
In the later 1960s, Longstreet began a career as a management consultant, joining International Management Group of Boston as an associate director. He later moved to the Boston Consulting Group
and served as its chairman.
Longstreet retired to Bethesda, Maryland
, and died there of pneumonia
on February 5, 2000, at the age of 94.
Economist
An economist is a professional in the social science discipline of economics. The individual may also study, develop, and apply theories and concepts from economics and write about economic policy...
and at one time the president of the Boston Consulting Group
Boston Consulting Group
The Boston Consulting Group is a global management consulting firm with offices in 42 countries. It is recognized as one of the most prestigious management consulting firms in the world. It is one of only three companies to appear in the top 15 of Fortunes "Best Companies to Work For" report for...
. From 1962 to 1965, he was United States
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
Assistant Secretary of the Navy (Financial Management and Comptroller)
Assistant Secretary of the Navy (Financial Management and Comptroller)
The Assistant Secretary of the Navy is a civilian office of the United States Department of the Navy...
.
Biography
Victor M. Longstreet was a native of Louisville, KentuckyLouisville, Kentucky
Louisville is the largest city in the U.S. state of Kentucky, and the county seat of Jefferson County. Since 2003, the city's borders have been coterminous with those of the county because of a city-county merger. The city's population at the 2010 census was 741,096...
, and graduated from duPont Manual High School in 1925. He was educated in economics
Economics
Economics is the social science that analyzes the production, distribution, and consumption of goods and services. The term economics comes from the Ancient Greek from + , hence "rules of the house"...
at Harvard University
Harvard University
Harvard University is a private Ivy League university located in Cambridge, Massachusetts, United States, established in 1636 by the Massachusetts legislature. Harvard is the oldest institution of higher learning in the United States and the first corporation chartered in the country...
, taking his degree magna cum laude in 1930.
His first job after graduating was working as an economist
Economist
An economist is a professional in the social science discipline of economics. The individual may also study, develop, and apply theories and concepts from economics and write about economic policy...
at AT&T
American Telephone & Telegraph
AT&T Corp., originally American Telephone and Telegraph Company, is an American telecommunications company that provides voice, video, data, and Internet telecommunications and professional services to businesses, consumers, and government agencies. AT&T is the oldest telecommunications company...
. He later took a job as an economist at the Federal Reserve Board. During World War II
World War II
World War II, or the Second World War , was a global conflict lasting from 1939 to 1945, involving most of the world's nations—including all of the great powers—eventually forming two opposing military alliances: the Allies and the Axis...
, he served in the United States Army
United States Army
The United States Army is the main branch of the United States Armed Forces responsible for land-based military operations. It is the largest and oldest established branch of the U.S. military, and is one of seven U.S. uniformed services...
.
After the war, Longstreet joined the United States Department of State
United States Department of State
The United States Department of State , is the United States federal executive department responsible for international relations of the United States, equivalent to the foreign ministries of other countries...
's economic development
Economic development
Economic development generally refers to the sustained, concerted actions of policymakers and communities that promote the standard of living and economic health of a specific area...
division. In 1948, he joined the Economic Cooperation Administration
Economic Cooperation Administration
The Economic Cooperation Administration was a United States government agency set up in 1948 to administer the Marshall Plan. It reported to both the State Department and the Department of Commerce. The agency's head was Paul G. Hoffman, a former head of Studebaker. Much of the rest of the...
and worked in their office in the Netherlands
Netherlands
The Netherlands is a constituent country of the Kingdom of the Netherlands, located mainly in North-West Europe and with several islands in the Caribbean. Mainland Netherlands borders the North Sea to the north and west, Belgium to the south, and Germany to the east, and shares maritime borders...
, and later Paris
Paris
Paris is the capital and largest city in France, situated on the river Seine, in northern France, at the heart of the Île-de-France region...
, until 1952. Upon returning to the U.S., in the mid-1950s, he became vice president and manager of the Louisville branch of the Federal Reserve Bank of St. Louis. Next, he left the public sector to become director of management research at Schering Corporation.
In 1962, President of the United States
President of the United States
The President of the United States of America is the head of state and head of government of the United States. The president leads the executive branch of the federal government and is the commander-in-chief of the United States Armed Forces....
John F. Kennedy
John F. Kennedy
John Fitzgerald "Jack" Kennedy , often referred to by his initials JFK, was the 35th President of the United States, serving from 1961 until his assassination in 1963....
nominated Longstreet as Assistant Secretary of the Navy (Financial Management and Comptroller)
Assistant Secretary of the Navy (Financial Management and Comptroller)
The Assistant Secretary of the Navy is a civilian office of the United States Department of the Navy...
, and Longstreet subsequently held this office from September 14, 1962 until December 31, 1965.
In the later 1960s, Longstreet began a career as a management consultant, joining International Management Group of Boston as an associate director. He later moved to the Boston Consulting Group
Boston Consulting Group
The Boston Consulting Group is a global management consulting firm with offices in 42 countries. It is recognized as one of the most prestigious management consulting firms in the world. It is one of only three companies to appear in the top 15 of Fortunes "Best Companies to Work For" report for...
and served as its chairman.
Longstreet retired to Bethesda, Maryland
Bethesda, Maryland
Bethesda is a census designated place in southern Montgomery County, Maryland, United States, just northwest of Washington, D.C. It takes its name from a local church, the Bethesda Meeting House , which in turn took its name from Jerusalem's Pool of Bethesda...
, and died there of pneumonia
Pneumonia
Pneumonia is an inflammatory condition of the lung—especially affecting the microscopic air sacs —associated with fever, chest symptoms, and a lack of air space on a chest X-ray. Pneumonia is typically caused by an infection but there are a number of other causes...
on February 5, 2000, at the age of 94.
Selected publications
- Victor M. Longstreet, "Investments and Liquidity of Member Banks During 1939," Federal Reserve Bulletin, Apr. 1940, pp. 293–297.
- Victor M. Longstreet, "Bank Lending for Defense," Federal Reserve Bulletin, Sept. 1941, pp. 866–874.
- Victor M. Longstreet, "Management R & D," Harvard Business ReviewHarvard Business ReviewHarvard Business Review is a general management magazine published since 1922 by Harvard Business School Publishing, owned by the Harvard Business School. A monthly research-based magazine written for business practitioners, it claims a high ranking business readership among academics, executives,...
, July-Aug. 1961, pp. 125–134. - Victor M. Longstreet, Financial Control in Multi-National Companies, 1971.