Word: arco
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Dates: during 1980-1989
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...standing room only crowd of more than 600 packed the ARCO forum to near Paul Kirk '59 predict the future of 'The Democrats After Reagan,' a speech sponsored by the Institute of Politics...
...Angeles-based concern (1984 sales: $25 billion) announced that it will shed all its refining and marketing operations east of the Mississippi, including 1,100 gas stations. The company also intends to pare down spending on exploration by 50% and abandon its copper and molybdenum businesses. More dramatically, ARCO's board of directors voted to increase significantly the firm's long-term borrowing. As a result, total indebtedness could reach more than 50% of the company's net worth. With the additional funds, ARCO plans to buy back 21% to 28% of its 235 million shares of common stock...
Atlantic Richfield hopes that those measures will effectively close the door to hungry corporate raiders like T. Boone Pickens who have been going after energy companies in recent months. Says Sanford Margoshes, an industry analyst with Wall Street's Shearson Lehman Brothers: "ARCO has made itself an ugly duckling and less attractive to a predator." Investors liked the moves. ARCO stock closed the week at 62 1/2, up 9 1/2 points...
John Naisbitt, speaking in a packed ARCO Forum of Public Affairs, said people would remember the 1980s as a "tremendous shaking period" that would alter every aspect of human life...
...other cast members. Meg Mackay is very strong as the "other" woman, cuttingly sarcastic and yet quite vulnerable, giving almost a heterosexual mirror image of Arnold. Christopher Stryker is wonderfully vapid and shallow as Alan, the pretty model who Arnold takes up with on the rebound; Jonathan Del Arco is impressive as the gay teenager Arnold seeks to adopt. Only Tom Stechschulte, as the confused bisexual Ed, doesn't quite measure up to the caliber of the other performances...