Word: chevron
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Dates: during 1980-1989
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Rooted in Ireland (where only Woods and guitarist Philip Chevron live) but centered in London, where they are an enduring force in a music scene that changes with tidal regularity, the band members still live close by one another, most of them in the same working-class neighborhoods where they grew up. "We are not the sort of people," says MacGowan, "who like to be snotty bastards, out in space." They just finished playing a few dates in the States, to get Peace and Love off to a strong start, and will return next month for a lengthier series...
...Gorbachev has attempted to start joint ventures with foreign investors. The Soviets have proved flexible: the original plan, which insisted on majority Soviet ownership, has been revised to accommodate the demands of Western companies. Last Thursday at a Kremlin ceremony, executives of a consortium of six U.S. firms -- including Chevron, Eastman Kodak and Johnson & Johnson -- signed an agreement for as many as 25 joint ventures involving about $10 billion over the next 20 years. Although the agreement specified ways that profits could be taken out of the Soviet Union in hard currency and not just held in worthless rubles, joint...
...Mommy Track idea. Says James Cohune, a spokesman for McKesson, the San Francisco-based pharmaceutical and health-care-products distributor: "I can't imagine a company keeping someone down who wanted to move up, just because she had a family. That's the Stone Age." Another California giant, the Chevron oil company, offers flexible work schedules for working mothers but does not shift them to a slow career lane. Says Dave Hufford, manager of employment policies for the firm: "We all have to balance our personal lives with our career demands, but to try to put that on a track...
...firm's final bid of about $25 billion in cash and securities, or $109 a share, was a bit less than the $25.4 billion, or $112 a share, that Johnson and his handful of top RJR managers had offered as their last stab. (The largest previous deal was Chevron's $13.3 billion takeover of Gulf in 1984.) "It was destined to happen this way," said a source close to the bidding. "The board could not appear to favor management in a buyout." Members of the losing side felt that the board had in fact discriminated against them. Declared an aide...
...most damaging brawl in Wall Street history. By last week three groups were locked in a titanic struggle for the company (1987 revenues: $15.8 billion), and the offering price has climbed above $26 billion -- more than the gross national product of Peru or Portugal and twice the sum that Chevron paid for Gulf Oil in 1984 in the largest previous merger. The ordeal turned into a feeding frenzy for hangers-on as well: hundreds of lawyers and investment bankers involved in the bidding stand to earn a total of as much as $1 billion for their expertise...