Word: ashland
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Dates: during 1980-1989
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...loading operation should have been routine: an enormous storage tank at Ashland Oil's Floreffe, Pa., facility was slowly filling with No. 2 diesel fuel, and everything seemed to be going according to plan. True, the 40-year- old container was being filled for the first time since having been cut up, moved from Cleveland and reconstructed on the site near the Monongahela River. True, the company did not have the required permit from Allegheny County. And true, Ashland Oil had forgone the standard safety practice of testing the tank with a full load of water. But the vessel...
...slowed the oil's progress. Wheeling, W. Va., was bracing for the onslaught, and contamination was feared along the Ohio all the way to the Mississippi. The Pennsylvania Fish Commission reported numerous dead fish; ducks and geese, caught in the oil, had to be rescued and washed. Said Ashland Oil Chairman John Hall, who quickly declared his company would comply with federal law by footing the entire cleanup bill: "I expect it will be a multimillion-dollar problem...
...last week charged three executives -- Charles Atkins, 32, William Hack, 62, and Ernest Grunebaum, 52 -- of Securities Groups, a bankrupt Manhattan-based investment firm, with providing $550 million in false tax write-offs through fraudulent trades in Government securities. Atkins, who headed Securities Groups, is the son of former Ashland Oil Chairman Orin Atkins. The roster of investors lured into the scheme reads like a program listing for Lifestyles of the Rich and Famous...
With no decision yet made on the Cornish-Windsor bridge rehabilitation, Graton busies himself meanwhile with other projects. His route between home in Ashland, N.H., and various jobs sometimes takes him near Cornish, and he stops to see how the old bridge is holding up. On one such recent visit he studied it from a parking area that overlooks the span and is frequently used by tourists who stop to take photographs...
...past few years. In 1984 they teamed up with T. Boone Pickens in an attempt to take over Gulf Oil. The bid failed, but seven months later the Belzbergs sold their $87 million stake in the company for $157 million. Last March the family threatened a takeover of Ashland Oil (1985 sales and revenues: $8.2 billion), collecting a $16 million "green-mail" profit when management bought back its shares...