Word: ares
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Dates: during 1970-1979
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Now that they are comfortable with their roles as corporate Medicis, sponsoring museum exhibitions and importing culture from the BBC for educational television, the oil companies appear to be going into social welfare programs. When Getty Oil last week signed a consent decree with the Department of Energy, which had...
The DOE fund may soon be swollen like a Christmas stocking with more cash. In the past 22 months, Paul Bloom, 40, the DOE's special counsel, has brought 150 enforcement actions totaling $7.2 billion in claims against 35 large oil companies for violating the complex, controversial federal price...
Though some of its oil competitors criticized Getty for giving in too easily, President Sidney Petersen signed the consent decree at least partly to avoid long litigation and a public relations black eye. Still hanging over the company are more DOE claims of at least $160 million for other alleged...
Last week TWA got off the Airbus and decided instead to buy ten Boeing 767s at a cost of $500 million, with an option for ten more. TWA had difficulty choosing between the 767 and the A310 because the planes are so much alike: both are snub-nosed, wide-bodied...
The TWA order highlighted a recent trend: U.S. lines are continuing to buy American-made planes, while some big non-American carriers are starting to switch to the Airbus. Historically, Air France and Lufthansa bought Boeing but, although they continue to acquire 747s, neither line has ordered any of the...