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Sprawling across a dusty mesa outside Santa Fe, the stark gray pen-which guards and inmates alike call "the hell-house"-was the site of one of the country's worst prison riots. In February of last year convicts went berserk, killing 33 fellow prisoners, some with acetylene torches. Many of the victims were suspected of having broken the sacred code of cons everywhere: never snitch. Now trials are either over, under way, or imminent for 27 inmates charged with murder in the riot-and this, in turn, has inspired more bloodshed: Explains Joanne Brown, director of Adult Institutions...
Reported by Richard Woodbury/Santa Fe...
Whatever individuals may have cashed in on the deal, the acquisition should be beneficial for both Santa Fe and Kuwait. Though it has grown at a compound annual rate of nearly 23% since 1950, Santa Fe in recent years has been forced to invest larger and larger amounts of capital to keep expanding. Kuwaiti ownership would give the firm the financial clout to broaden its presence in such lucrative markets as the British North Sea, where it holds a 16% interest in the Thistle Field...
...Santa Fe could turn out to be Kuwait's most successful diversification move yet. The nation's government-owned Kuwait Petroleum Corp., which is directed by Sheik Ali Khalifa al-Sabah, the country's Oil Minister, already operates a fleet of more than a dozen supertankers. Earlier this year, the firm entered into joint ventures with U.S. companies, giving it a $185 million share in a Hawaiian oil refinery as well as participation in a U.S. oil exploration group. Kuwait, though, has not always been able to buy its way into the American market.Its 1980 attempt...
With Santa Fe, however, the courting was cordial from the start. Preliminary talks first began last summer between Santa Fe Chairman E.L. Shannon Jr. and Sabah, who initially proposed that Kuwait acquire a 25% stake in the firm to make use of the company's vaunted engineering expertise. Discussions eventually progressed to an agreement in principle to buy the whole company. Santa Fe's board of directors, which includes former President Gerald Ford, gave its approval last week, and shareholders are expected to agree to the deal at a special meeting on Dec. 1. Kuwait will then have...