Word: exxon
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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...
...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...
Stormy meetings of the oil ministers last May and again in December failed to resolve the problems of quota cheating and price discounting. Pressure on the Saudis reached a peak last month. Their four main oil-company customers-Exxon, Mobil, Texaco and Standard Oil of California-threatened to turn to other suppliers if the Saudis did not lower their price. At conferences in London and Geneva, Yamani huddled with top executives from the four firms, who brought confidential figures to show the oil minister how much they were losing by staying with Saudi crude...
...roster of campus absentees, ranging from U.S. Steel to Philip Morris, reads like a Who's Who of corporate America. Among the most conspicuous no-shows are major oil companies, whose profits have tumbled along with oil prices. Exxon Corp., the largest U.S. industrial firm, plans to recruit at just 19 schools this season, compared with 50 a year ago. Part of the slack is being taken up by computer and electronics companies, as well as fast-growing younger firms. Says Arthur Letcher, director of graduate placement at the Wharton School: "The Fortune 500 companies are unquestionably not hiring...
...efforts are the largest CO2 projects ever. In one, Exxon Corp. and Atlantic Richfield Co. are the major investors in a $350 million, 405-mile underground line that is to begin piping the gas this spring. In the second, Shell Oil Co. and Mobil Oil Corp. are building a 500-mile system that will cost a total of about $1.2 billion. That system, in which Continental Resources Co. also has an interest, is to be finished in the third quarter of next year. The Shell-Mobil project alone could coax out an extra 280 million bbl. and boost output...