Reynolds' other business ventures included Spectrum 7, an oil company which he co-chaired from 1980 to 1985 and which, in 1984 merged with the struggling firm Arbusto Energy, which was owned by George W. Bush.
He was a frequent guest of President Bush at the White House and at Camp David and was a leading contender for the post of Commerce Secretary upon the 2004 resignation of Donald Evans.
[2] Reynolds has been active in fundraising for community and civic organizations including Summerbridge, a tutoring program for inner-city youth in Cincinnati, the National Coalition for the Protection of Children and Families, and United Way of America.
In the field of foreign policy, he sits on the advisory board of the Center for Strategic and International Studies and has been involved with the Bridging the Rift Foundation in the Middle East.
From August 2001 to September 2003, Reynolds served as the ambassador of the United States to Switzerland and Liechtenstein, although was criticized for his lack of qualifications or prior diplomatic experience.