Word: exxon
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...projects were halted in the planning stage, before construction began. The industry's increasing troubles have had the most serious repercussions in the West. In Colorado, the residents of four counties that sit atop shale-oil deposits still speak of May 2, 1982, as "Black Sunday." On that day, Exxon and Tosco pulled out of their Colony Oil shale project after having invested about $1 billion. Home prices in Mesa County tumbled by as much as 50%. Unemployment climbed to 15%, and now stands at 9.8%, in contrast to the U.S. average...
...explained this to a 1977 group of Harvard undergraduates, one of whom had tiptoed toward the dumbing-down issue. "If you're selling hard goods - like soup or dog food - you simply can't afford to put on culture," he said. "Exxon, the Bank of America - organizations like that can afford to do it [by sponsoring 'Masterpiece Theatre' and other PBS shows of higher brow]. But they aren't selling hard goods, and that's what 'The Tonight Show...
...Credit Bank in 2000 and tapped Masamoto Yashiro to run it, he set out to revolutionize the industry. Since taking the helm of the bank--renamed Shinsei, or Rebirth--Yashiro, 75, has presided over one of the most successful turnarounds in Japanese corporate history. With 30 years experience at Exxon and nine more at Citibank, Yashiro has never been a member of Japan's insular financial community. "I don't follow the Japanese way of doing things," he says. Yashiro talks about competition, profitability and performance--words rarely heard until recently among Japanese bankers. At Shinsei, Yashiro abolished promotions...
Street Creds: Joined Corning in 1962; member of board of directors of Metropolitan Life Insurance Company and Exxon Mobil Corporation; trustee of the Metropolitan Museum of Art, the Pierpont Morgan Library and the Corning Museum of Glass...
...industries such as mining and oil-and-gas production. Although Indonesia is rich in natural resources, investors in recent years have shied away from development projects because of confusion over industry regulations as Jakarta grants more power to local governments. In one case, three years of haggling between Exxon-Mobil and Indonesian oil company Pertamina, now in the process of being privatized, has stalled the development of the massive Cepu oil field on the island of Java. The negotiations were dealt a serious blow in August, when Exxon-Mobil says it was informed by Pertamina that its contract to operate...