Word: coal
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After finishing well back in the pack in their opening tourney of the season on Friday, the linksmen's team aggregate of 316 yesterday had about as much reverberation on the New England golf world as a delivery of several tons of coal through a conservatory roof...
...million. Next came a sewer-pipe company in 1970, but he sold it because the directors of the N.Y.S.E. did not like the fact that he owned most of the shares, leaving few in public hands. The sale netted J.B. $16.5 million, which helped finance his entry into the coal, oil and natural gas and real estate businesses. Nor has Fuqua finished. "I'm always chasing companies, dreaming," he says, moving steadily onward toward his first $100 million...
When Stewart was twelve, his father moved the family to Fort Pierce following the failure of the family coal mine in Payne Gap, Ky. Two years later, Gary found a book of diagrammed musical chords. At 15 he was playing in local bars. By 17, he was married and working in an airplane factory. He began his day at the tool crib, but would soon be scribbling song lyrics on a note pad. "I lived for the weekend, and when it came I hated to see the morning come...
Slow Alternatives. At the same time, development of alternative fuel sources seems to be moving very slowly. Nuclear plants now generate about 9% of the nation's electric power, up from 4.5% in 1973. But coal, despite a drive to convert oil-and gas-fired plants to it, still supplies well under 50% of the country's electricity needs. Other energy sources-solar power, shale oil-remain drawing-board daydreams. By contrast, the Japanese, who are much more dependent on foreign oil than the U.S. is, have sharply stepped up work on such alternatives as nuclear power (twelve...
...reason is that there has been a rush by electric utilities, mining and oil companies to acquire coal producers and pump money into them, just as Kennecott did with Peabody. Indeed, Wall Streeters give the copper company high marks for its prescience in getting into the coal industry ahead of everyone else. Yet that obviously was a mistake on Kennecott's part too. No other big purchaser of a coal company has been bothered by the FTC, even though some might provide clearer examples of potential antitrust violations than Kennecott. In other words, the FTC ruling, despite its success...