Word: amaxingly
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...Security Council staff, Reed was thought to have had a good shot at a number of high-level openings down the road. No longer. Reed's troubles go back to 1981, when he made an investment of $3,000 in call options on shares of stock in the Amax mining company. When Standard Oil of California announced the next day that it hoped to buy Amax, Reed's options appreciated to a net value of $427,000. But Reed had spoken with his father, an Amax director, minutes before he purchased the options. The Securities and Exchange Commission...
...your story on the fight to save Crested Butte [June 29], readers may have missed the point that the "backyard" we are trying to spare and the molybdenum under the ground both belong to all Americans. Multinationals like Amax, under the existing laws, would take that resource and in return would leave the people of the U.S. with one more ecological time bomb to cope with...
...well-being of all Americans is intimately tied to preventing a rape-and-run mining venture from destroying the Colorado area of Crested Butte. Amax spends large amounts of money trying to find new uses for molybdenum (adequate supplies of which are available elsewhere). Part of what is produced in the U.S. goes to the Soviet Union. Should a beautiful part of America be torn up to guarantee that the steel in Soviet ICBM warheads is adequately hardened...
...corporate profits last year, the nation's oil companies have been gobbling up companies on Wall Street like rich kids turned loose in a candy store. In March, Standard Oil of California made the largest takeover bid on record: $3.9 billion for 80% of the stock of Amax Inc., a diversified mining concern. A few weeks later, Standard Oil Co. of Ohio swallowed Kennecott Corp., the nation's largest copper producer, by offering stockholders a total of $1.9 billion for their shares...
...born William John Schiff III in Philadelphia, but adopted his stepfather's name.) For the past four years, the wheelchair-bound Mitchell, 38, who was badly burned in a motorcycle accident ten years ago and paralyzed in a plane crash four years later, has tirelessly attacked AMAX and questioned its assurances that the mine will do no harm. Noting that up to 20,000 tons of ore will be removed every day for 20 or 30 years, Mitchell forecasts an onslaught of people, noise, grit and crime. Says he: "There are messes all over the West in the name...