Word: exxon
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...system might appear designed to make Exxon a slow-moving debating society -a kind of centipede with ar thritis. In fact, Exxon has an enviable reputation for being nimble. The main reason is that the New York headquarters still grants considerable autonomy to subsidiaries and affiliates in the field...
Some politicians recently raised a furor because Exxon's refinery in Bay way, N.J., fueled a Polish fishing trawler while American fishermen were worrying about supplies. Nonplused Exxon men were late in explaining that they simply had been fulfilling a legal obligation under a long-term contract to sell products to a Polish state company...
...Senate hearings into oil company profits last month, Exxon Vice President Roy Baze was publicly humiliated by Democratic Senator Henry Jackson of Washington. Baze, an expert on moving and storing oil, expected to be questioned about supplies, but Jackson asked him instead what Exxon's per-share dividends were. Baze did not know, and Jackson made a grandstand show of phoning a Washington stockbroker for the information. Last week an overwrought writer of a letter to the New York Times accused Exxon of "treason" for not supplying the U.S. Sixth Fleet in the Mediterranean during the Middle East
...reached, or even identifying exactly who makes them. Production Vice President Goerner, for example, constantly talks with Exxon's exploration chiefs around the world about where to look for oil; he also reviews their budgets. But if the head of an Exxon subsidiary in, say, Australia differs with Goerner on where the company should spend millions in drilling, both present their views to the management committee, which meets as often as necessary to consider Exxon's largest problems. The committee then mediates a compromise...
Independent Texas oilmen, for instance, often ask to lease wells that major oil companies are not operating. Some companies refer all bids to corporate directors, who may take years to answer; Exxon's local executives can usually return a yes or no answer within two weeks. Independent oilmen, indeed, almost unanimously give Exxon credit for not only swift but fair dealing. Many say that Exxon will not sign a sale, purchase or lease contract unless its officials are convinced that the transaction is good for both parties...