Word: a-year
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...bank, he was unquestionably a whiz at finance, but around the office he seemed to some more like a human buzz saw-pugnacious, cutting, even on occasion rude. Yet apparently the very qualities that wound up costing A. Robert Abboud, 51, his post in April as the $265,000-a-year chairman of First Chicago Corp., the nation's ninth largest bank holding company, have landed him another top job at nearly twice his old salary. His new employer: Los Angeles-based Occidental Petroleum Corp., the nation's twelfth largest oil company...
James L. Sullivan is the current occupant of the $50,000-a-year post; a tough but friendly bargainer, Sullivan is solidly entrenched in the manager's slot...
Still touchingly enthusiastic and naive at 42, Rubin is a $36,000-a-year securities analyst at John Muir & Co. He says that his task is investigating "companies of the future," such as solar-power firms, and "finding the financing for the socially aware risk takers who will become tomorrow's titans." But his boss, Research Director Ray Dirks, expects Rubin to provide the company with something else. Says Dirks: "A lot of people who were around in the '60s have matured, and some of them want to invest. We can use somebody like...
...past two years, Abboud moved aggressively to get more clients with fixed-rate loans covered by short-term borrowing. Like many other bankers and economists, he figured that interest rates had peaked. When rates continued up toward 20%, his bank's profits nosedived $14 million in the first quarter. Late last year Abboud brought into the bank Harvey Kapnick, who had left the $499,000-a-year job as chairman of the Arthur Andersen accounting firm after a policy dispute with partners. It was like Frankenstein's monster meeting Dracula. Kapnick had an almost equally truculent style...
...flow of dividends from the oil fund, which by the end of this year is expected to total more than $1 billion. Since it is invested in stocks, bonds and other securities, the fund could prove even more profitable than expected, and future legislatures might increase the $50-a-year formula. Oil price increases could also continue to swell the fund. While most Americans complain bitterly every time OPEC members raise prices, Alaskans have reason to applaud. With the price of domestic oil now decontrolled, Alaskan crude can rise to the world level; thus the state's royalties will...