Word: firmed
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Dates: during 1960-1969
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...Mill Stream. Lately, Findlay has become equally proud of another local phenomenon: Marathon Oil Co., which has expanded in a few years from a small oil producer into a $500 million-a-year company. In a business where great exploration costs and fierce competition can easily break a firm, Marathon has competed successfully against the oil giants by acting as if it were one of them, and expanding rapidly far beyond the peaceful banks of the Blanchard...
...firm's expansion began in 1948 when scholarly James Donnell II, inheriting a job held by his father and grandfather before him, became president of the company (then known as Ohio Oil). Founded by 14 Ohio investors during an oil boom in 1887, the firm has been dominated since 1911 by the Donnell family, who were among the original backers. Geologist Donnell (Princeton '32, Phi Beta Kappa) set about to increase the company's scope by stretching into the refining and marketing ends of the business and doubling exploration outlays. As bigger and more experienced oilmen looked...
Marathon retains the neighborly image of a small-town firm. It has begun to offer cash refunds to customers who write in with legitimate gripes about service in its stations: one man asked for his gas money back because the attendant neglected to wipe his windshield (complaint accepted), and one woman wanted back the $2.50 that her son had put in the vending machines (accepted). For Jim Donnell, 55, who spends more than half his time jetting to inspect his many outposts, success has its disappointing aspects. He feels most at home down by the old mill stream...
...plant of his Wolverine Aluminum Corp. in Lincoln Park, Mich., where aluminum corners, gutters and sills for houses are made, he rides about in a small electric cart, making sure that workers use ashtrays and do not throw gum wrappers on the floor. When Smith listed his growing firm (1964 sales: $7.2 million) on the American Stock Exchange last month, he traveled to Manhattan to get the usual VIP treatment: a tour of the exchange, lunch with the officers, the chance to buy the first shares of the traded stock. What he experienced did not sit well with Smith...
...life. When the British learned last month that British Printing Corp. Chairman Wilfred Harvey pulled down $750,000 a year plus expenses, they were astounded not only by the amount but by the fact that it had become known. The disclosure came after directors of the firm won a battle to force Harvey to resign and relinquish his huge salary, which they called "grotesque." The case raised curiosity about how much and how varied are the incomes of the world's hired executives-those at the top echelons of industry and finance...