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...understand the problems and profit of this kind of U.S. manifest destiny better than the short (5 ft. 8 in.), bald, square-jawed chairman and chief executive of the world's biggest oil company, Standard Oil of New Jersey.*He is 63-year-old Michael Lawrence Haider (rhymes with strider), and he views the world from a 29th-floor office in midtown Manhattan's RCA Building...

Author: /time Magazine | Title: Industry: The Long-Term View From the 29th Floor | 12/29/1967 | See Source »

...quite a view. In terms of globalization, few, if any, corporations can match the 85-year experience around the world of Jersey Standard, or its range of activities. With 52% of its vast assets abroad, Jersey is the world's biggest private overseas investor. Thus "Iron Mike" Haider, in the course of a day's work, may be involved in everything from a Middle East coup to whether Jersey should eventually construct a 1,000,000-ton supertanker, or what the President of the U.S. has on his mind...

Author: /time Magazine | Title: Industry: The Long-Term View From the 29th Floor | 12/29/1967 | See Source »

Jersey Standard is actually a holding company and-thanks in considerable part to Haider-a highly decentralized corporate parent to 300 affiliates that do all its exploring, producing, refining and marketing of petroleum products in more than 100 nations. Out of all this, Jersey's most recent annual earnings were $1.1 billion from well-oiled sales of $13.6 billion...

Author: /time Magazine | Title: Industry: The Long-Term View From the 29th Floor | 12/29/1967 | See Source »

Esso Europe, at Mike Haider's insistence, was concocted in 1966 as an even more diverse mixture. Picked to head it was an American, Nicholas J. Campbell Jr., 52, who had earlier been in Venezuela for Jersey and in Japan as president of Esso Sekiyu, the Japanese affiliate. Choosing as many capable executives as possible from Europe, Campbell ended up with a mix that includes 121 Americans, four Canadians, one Venezuelan, 86 Britons, 21 Germans, 16 Frenchmen, 14 Italians, ten Belgians, ten Norwegians, nine Swedes, eight Dutchmen, two Danes, two Swiss, one Finn and one Maltese, who all work...

Author: /time Magazine | Title: Industry: The Long-Term View From the 29th Floor | 12/29/1967 | See Source »

...company merely dipped deeper into its vast North American reserves and substituted Western Hemisphere petroleum for Middle East oil that could not reach Europe quickly because of the Suez Canal closure. As a result, Nickerson reported third-quarter earnings up 6.8%, to $93.8 million. Jersey Standard Chairman Michael L. Haider announced that the world's largest oil company had substantially increased its Western Hemisphere operations, and had a third-quarter rise in earnings of 15.8%, to $315 million. Gulf Oil's U.S. production was up in the quarter, and earnings rose 13%, to $138.4 millions. Phillips Petroleum, pumping...

Author: /time Magazine | Title: Earnings: Battle Reports | 11/3/1967 | See Source »

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