Word: haider
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...Jersey Standard, the largest oil producer, ended the year with profits up 5.2%, to $1.1 billion, despite a squeeze that forced fourth-quarter earnings be- low the 1965 period. Higher worldwide taxes and other payments ($4.7 billion) did the major damage-and 1967 will be no easier. Chairman Michael Haider thinks that the proposed 6% tax surcharge would not hurt much, but that loss of the 7% investment tax credit could be important in a company that spends $1 billion a year on expansion. - IBM might ask, "What fourth-quarter slump?" since its profits were up 13%, to a record...
Michael L. Haider, SC.D., board chairman of Standard...
There is widespread unhappiness about Johnson's "voluntary" restraints on U.S. capital investments overseas and at home. Though their companies abide by them, both Jersey Standard Chairman Michael Haider and Gulf Oil Senior Vice President W. W. Adams have pointed out that the restraints on spending abroad will weaken the country's balance of payments in the future. Haider also urges cuts in the Government's nondefense spending, which, he notes, has widened the balance-of-payments deficit by increasing demand for imports and diverting some potential exports to domestic markets...
Cherub-faced Mike Haider is an oilman of a different stripe than his predecessor. Rathbone came up as a refinery man, was a tough administrator. "If you ask if I like to leave," he growled last week, "the answer is 'Hell, no.' " Softer-spoken North Dakotan Haider, a Stanford graduate ('27) in chemical engineering, is a research and exploration expert; among other Jersey jobs, he brought in Imperial Oil's Leduc No. 1 in Alberta, the find that started western Canada's oil boom in 1947. Despite their different backgrounds, Haider (whose salary will soon...
...global company, the policy problems can be considerable. Despite a continuing oil glut, Jersey is energetically prospecting for more oil against the day a decade from now when world demand approaches supply. Haider must decide on commitments in the North Sea, where the search looks good, and in Australia, where so far it has been poor. He faces major decisions on marketing policy for such areas as Japan and Europe, where demand for oil-as well as competition -is skyrocketing with industrialization...