Word: caltex
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Dates: during 1970-1979
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...billion in South Africa, and they are the chief purveyors of its modern technology and consumer goods. Ford, South Africa's biggest automaker (1977 sales: 42,874 vehicles), and GM together account for 26% of the automotive market. Goodyear, General and Firestone dominate tire sales; Exxon, Mobil and Caltex are leaders at the fuel pumps. Kellogg's cereals are found on 40% of South Africa's breakfast tables, and Otis elevators convey riders in two of every five office buildings. IBM enjoys a near monopoly in data processing, challenged only by Control Data. Even though embargoes prevent...
Last week the trustees voted to urge Phelps Dodge, a large U.S. mining firm, to leave South Africa, but turned down a similar resolution in Caltex, a subsidiary of the Texaco oil company...
...president of Standard Oil of California, a part-owner of Caltex, is also a member of the Stanford board of trustees, SCRIP members said...
Members of the Stanford Committee for a Responsible Investment Policy (SCRIP) yesterday said they were opposing the board of trustees decision Tuesday night not to support a shareholder resolution urging that Caltex withdraw from South Africa...
...Caltex is owned jointly by Texaco and Standard Oil of California. It operates a refinery in Cape Town, and markets petroleum products throughout the country. It also owns shares in two Southern Rhodesian marketing and refining companies. Caltex employs about 2000 workers in South Africa, about a third of them black. The average African wage in 1972 was $139 a month; the minimum...