Word: citgo
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Cities Service badly needs a manager. It has dropped from ninth to eleventh place as an oil and gas producer, six weeks ago changed its brand name to Citgo and its pumps from green and white to red, white and blue to stimulate sales. The company has diversified into copper mining and cable production, printing inks, fertilizers, and even real estate (a string of five Wall Street skyscrapers). It now gets about 60% of its $1.17 billion operating income from non-oil sources. To handle this complex, the directors wanted someone with broad management background-and Burns seemed...