Canton Repository

May 13, 2003

Timken chairman to receive award

Paul Krawzak
Copley News Service

WASHINGTON — A conservative pro-free enterprise group will present W.R. “Tim” Timken Jr., chairman of the Timken Co., with one of its two annual Adam Smith awards today.

Timken is a “shining example of what a politically active executive must be,” the Friends of Adam Smith Foundation said. The award, named after an 18th-century Scottish economist, honors elected officials and business people who have promoted free markets, low taxes, respect for private property and a stable monetary system.

Timken is receiving the business award, and Rep. Anne M. Northup, R-Ky., will claim the award for elected officials. Previous recipients include Rep. John Boehner, R-Ohio, and Vice President Dick Cheney, a former chairman of Halliburton Corp.

Timken “exemplifies the values championed by Adam Smith,” said the group, which praised him for helping to make the National Association of Manufacturers into a more representative and influential organization when he served as its chairman two years ago.

Timken, a longtime contributor to Republican candidates, received Senate confirmation last month as President Bush’s chairman of the Securities Investor Protection Corp., which protects investors’ assets.

The award will be presented at a $500 per plate dinner on Capitol Hill.