Word: hammerings
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...officer of an international corporation, "an innovator with a lot of nerve," who made some investments and loans "that a conservative banker would not have got into." He also made loans to Occidental Petroleum of Los Angeles, and he caught the sharp eye of Occidental's chairman, Armand Hammer. Still active at 75, Hammer has announced that 39-year-old Baird will become the president, chief operating officer and No. 2 man in the company...
Occidental has since last year been making profits again after falling $67 million into the red in 1971. But it has a long-term debt of close to $1 billion and thus has had some difficulty raising capital for Hammer's favorite overseas projects, which include drilling in the North Sea and a multibillion-dollar plan to import natural gas from Siberia. Baird's banking experience may be just what Occidental needs to reduce its debt and to gain, as he puts it, "a better-balanced capital structure...
...third piece owes its success to Stephen Hammer, the oboe soloist. Originally written for flute in D major, this piece is now the Oboe Concerto In C. As such it provides an opportunity for a mellower and richer sound, which Hammer certainly provided...
...final piece, The Haffner Symphony is marked by terrific energy--which is just as well considering that it was past 1 a.m. when the piece began. Thanks to Hammer, the audience was still wide-awake, but the orchestra was beginning to tire. Still the outer movements were particularly enjoyable and the evening ended with a fine flourish...
...Colonel Gaddafi, the government struck back by cutting production by 25% and lifting the posted price by 30¢, to $2.53 per bbl., the largest increase in Middle Eastern history until then. Most of the oil-company chiefs agreed to stand together and resist the rise, but Armand Hammer, chairman of Occidental Petroleum, capitulated...