Word: exxon
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Dates: during 1980-1989
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...enormous reserves of Alaskan crude, dropped 2% during the week. The four U.S. partners in Aramco, which pumps most of Saudi Arabia's crude, held up better than the rest. The reason: any cut in the official OPEC price will help end the squeeze that the four-Exxon, Standard Oil of California, Mobil and Texaco-have suffered as the spot oil price (see chart) has fallen below the $34 that they now pay the Saudis...
...school officials announced last week that they received a $50,000 grant from the Exxon Educational Foundation specifically for the creation of the center--which will be the first of its kind in the world. Israel Scheffler, Thomas Professor of Education and Philosophy and one of the Center's co-directors said yesterday...
Kodak's open-window plan is similar to the efforts launched last year by Exxon and Du Pont. Hurt by falling profits, Exxon last summer sent letters to some 30,000 employees in divisions judged to be overstaffed, promising cash payments in exchange for resignations. Supervisors warned that layoffs might become necessary if not enough people quit. The company will not disclose the terms of the deals or how many workers accepted...
...While Exxon, Du Pont and Kodak have offered resignation incentives to all age groups, other companies have focused on workers nearing retirement. Because these employees command the biggest salaries, their departure can generate the greatest savings. Ordinarily, workers are reluctant to retire early because they are not eligible for Social Security until age 62, and most early-retirement plans offer sharply reduced pension benefits. Now many companies are encouraging employees to leave by guaranteeing them monthly pension payments that come close to what they would have received, including Social Security, had they waited until standard retirement...
...Francisco. It is the most expensive art exhibition ever put on in America. It cost $8 million to prepare, ship, insure and mount, and involved the largest single grant ever laid out by a corporate sponsor: $3 million from Philip Morris, which is to museums what Mobil and Exxon...