Word: fluor
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...share, almost three times St. Joe's book value, the bid seemed generous. But John Duncan, St. Joe's crusty chairman, announced that he would rather liquidate the company than sell it to Bronfman. Duncan would not even return Bronfman's phone calls. The Fluor Corp., a giant (1980 sales: $4.8 billion) construction firm, then topped Seagram's bid by $15 a share. Rather than start a costly, and probably futile, bidding war, Seagram dropped its offer earlier this month...
Others were hardly complacent. Snapped J. Robert Fluor, chairman of Fluor Corp., a leading manufacturing and construction firm: "Carter has vacillated so much that I find it difficult to know what he wants or doesn't want." Sneered a New York banker in reference to the President: "Inflation has caught us between a marshmallow and a hard place...
However, PepsiCo is still shipping concentrate to its Iranian bottlers, and Continental Telephone is proceeding with building a phone cable network for Tehran. One of the largest projects had been the joint venture between California's Fluor Corp. and West Germany's Thyssen to build a $750 million, 200,000 bbl.-a-day oil refinery at Isfahan for the National Iranian Oil Co. The refinery has been a high-priority item for the Iranian government, which fears shortages of kerosene and diesel fuel during the winter. Last week, when the refinery was a month away from partial operation...
South Africa has contracted with Fluor Corp. of Irvine, Calif., to build the two additional, much larger plants...
Says one of them, PepsiCo Chairman Donald Kendall: "Connally's greatest strength is in the Big Business community." Thomas Ellick, a corporate vice president of California's Fluor Corp., who was a special assistant to Governor Ronald Reagan in 1968-71, finds that "I'm just amazed at the breadth of the people who are coming out of the woodwork for John Connally. If anyone is looking for a replacement for John Wayne as the personification of America, this...