Word: crude
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Dates: during 1980-1989
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According to Texaco lawyers, the IRS claim relates largely to the company's oil dealings between 1979 and 1981. As a member of a consortium known as the Arabian American Oil Co. (Aramco), Texaco bought crude from Saudi Arabia for $28 per bbl., even though the official going rate was $32 per bbl. The IRS appears to be saying that Texaco should have considered the $4-per-bbl. price break to be income and paid taxes on it. The other members of Aramco -- Exxon, Chevron and Mobil -- could also face penalties, but they have not heard from the taxman...
When the supertanker Amoco Cadiz foundered in 1978, spewing 68 million gal. of crude oil over the beaches of Brittany, it created the worst petroleum spill ever to hit land. It also launched one of the world's stickiest legal battles. The French government and a host of other plaintiffs claimed $1.6 billion in damages...
Sixty years after crude signals began emerging from America's first regularly transmitting station, in Schenectady, N.Y., TV has stopped to take its longest, most comprehensive look at itself. Television, a series of eight hour-long documentaries exploring the medium's history, originated as a 13- part program on Britain's Granada Television. It has been adapted and Americanized under the aegis of two PBS stations, Los Angeles' KCET and New York City's WNET. Roughly two-thirds of the material in the U.S. version is new, including clips, interviews with key figures from TV's past and narration...
...week. In one scheme, Drexel Burnham would help finance U.S.-Soviet medical ventures that could reap profits from Soviet advances in eye surgery and cancer treatment. Pitching another idea, Milken proposes that the Soviets take advantage of their plentiful commodities by issuing bonds backed by stockpiles of gold or crude...
Much of the ugliest architecture is in and around the City, London's financial district. Some of the worst examples: the crude, polygonal Stock Exchange tower; the gloomy, 35-acre concrete jungle of Barbican Center, which includes apartments, shops, offices and a cultural center; and the cheap glass series of towers constituting London Wall. In other London districts examples also abound, many built with public funds. One of the least distinguished is the coarsely slablike headquarters of the Department of the Environment, which may help explain its failure to advance the cause of quality architecture...