Word: divest
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Dates: during 1970-1979
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Whatever the courts rule, the cartel's shenanigans are certain to refuel congressional demands that the nation's oil companies divest themselves of their nonpetroleum activities. At the least, the trials will give yet more ammunition to oil-industry critics who charge that some of the world's largest and most powerful corporations think they have become a law unto themselves...
...Firestones responses was very general and incomplete, focusing on the aconomic rather than the social issues involved," Murphy said. The investment committee unanimously decided the response was inadequate and decided to divest itself of the stock, he added...
Northwest was a last-minute starter in the competition. Ironically, Northwest had been a division of El Paso until 1974, when the Justice Department forced El Paso to divest itself of Northwest, and McMillian managed to gain control. Two years later, McMillian entered the pipeline race, and he learned fast. To enlist across-the-border support, he joined forces with two Canadian companies and christened his project Alcan. McMillian proved unabashedly opportunistic. When he heard, for example, that influential congressional staffers favored a route south from Prudhoe to Fairbanks, he seized on it. His approach inspired a Washington quip: "McMillian...
Carter's request, promised the President and the Senate that he would divest himself of his shares in the bank before Dec. 31. (Treasury Secretary Michael Blumenthal made a similar pledge to divest himself of Bendix Corp. stock...
...seemed simple. The Justice Department decided that a rash of acquisitions by ITT, the big conglomerate, did violence to the antitrust laws. Justice decreed that the firm could keep the Hartford Fire Insurance Co. and some smaller firms if it would divest itself of Avis, the nation's No. 2 car-rental firm, within three years. Since then the effort to sell off Avis has become bogged down in byzantine legal maneuvering that, if nothing else, sharply underscores the difficulties of pursuing a vigorous antitrust policy...