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...contrast to the oil shocks of the 1970s, when gas retailers often engaged in price wars, little competition was seen last week. One reason: the number of gas stations in the U.S. has dropped from just over 190,000 in 1974 to about 110,000. Representatives of Amoco and BP of America defended the so- called pack pricing of gasoline. If his company charged less than the others, explained Amoco spokesman Mike Thompson, customers would flock to Amoco stations and buy all their gasoline. Some stations might even run out of gas, he contended...
...this view of supply and demand failed to win much sympathy among motorists. In response to Bush's call for moderation last week, the oil companies began softening their stance. Texaco, BP America and Conoco said they would roll back gasoline prices by 1 cents to 4 cents per gal. Unocal, Amoco and Getty announced that they would freeze prices at the pump for a week or more, depending on conditions in the world markets. So for the moment, at least, the runaway price hikes that followed the invasion of Kuwait have been stopped in their tracks. But that...
...publishing magnate Robert Maxwell ($2.7 billion). As early as 1987, Warner Books chairman William Sarnoff quipped at the booksellers' convention in Washington that soon "we'll all just meet at the office of the lone remaining publisher." At this point, according to James Milliot, editor of the industry newsletter BP Report, the top six publishing houses reap 60% of all adult-book revenues, in contrast...
Hitech shares a special table, strategically located near a phone jack and an electrical outlet, with a second computer contestant named BP. BP runs on a Compaq PC, a crowd pleaser with its flashy electronic chessboard. Hitech is not even physically present. An ungainly-looking brute, with circuit boards that poke out of a metal rack like truncated wings, Hitech remains in Pittsburgh, hidden away in a laboratory on the campus of Carnegie Mellon University, where Berliner teaches computer science...
Congress shapes a bill to help trim the trade deficit. -- The Postal Service cuts service but hikes prices. -- Kuwait' s BP connection...