Word: exxon
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Dates: during 1980-1989
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...ACSR also approved resolution by stockholders in the Atlantic Richfield company and the Exxon Corporation requesting an end to the companies' expansion in Chile. Harvard owns about $33 and $54 million in ARCO and Exxon stock, respectively...
Many prominent political, literary and academic figures are on the 83-person committee organizing the scholarship. They include: Marguerite S. Robinson '56, dean of students at Tufts University: John C. Culver '54, former senator from lowa: and Stephen Stamas '53, vice-president of Exxon...
...been a long time since the 13 members of the Organization of Petroleum Exporting Countries were unable to sell every barrel of crude they pumped, or since oil companies such as Exxon, Mobil Oil and Gulf Oil suffered from declining profits and bulging inventories. But that is precisely the situation in the suddenly upside-down world oil market. Skyrocketing prices and sagging demand have brought on a continuing petroleum mini-glut...
Industry analysts predict that as a result of the weak market, first-quarter earnings, which the companies will begin to release this week, will be down sharply. Said Dillard Spriggs of New York's Petroleum Analysis Ltd. research house: "Virtually every company will be affected by the downturn." Exxon and Mobil are expected to see earnings drop about 25%, while Gulfs earnings may decline more than 40%. Overall, of course, Big Oil will still remain very profitable. Some companies, such as Standard Oil of California, may well show modest increases over first-quarter 1980 profits, which were enormous...
When using inflation accounting, other large companies show smaller profits, if not outright losses. Exxon's income dips $560 million to slightly more than $5 billion; Alcoa's plunges from $470 million to $ 144 million. Robert Hampton III, a Price Waterhouse senior partner, says that a survey of 83 companies using inflation accounting last year showed that real profits were about 40% less than those reported on the normal balance sheet. Another survey, by Arthur Young & Co., revealed after adjustments for inflation that airlines, railroads and tire and rubber companies actually lost money. High-technology companies like...