Word: hickman
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...lengthy tussle. It might try to take over smaller Pennzoil, though the price would be about $5 billion and Texaco would have to take on a huge debt. Despite Pennzoil's initial refusal, an out-of-court compromise is also possible. Oil-Industry Analyst Alan Edgar of Schneider, Bernet & Hickman in Dallas believes that Texaco might let Pennzoil have for $3.5 billion the Getty properties it originally sought. That would be about $2 billion below market value...
...more oil fields worth the struggle. Said Pickens: "We had more cash flow than investment opportunities. We want to give the money back to shareholders, and this is the best way to do it." Energy analysts agreed. Said Alan Edgar of the Dallas investment firm of Schneider, Bernet and Hickman: "They'd run out of targets." While Mesa will be out of the raiding business, Pickens may not be. His 9% share of Mesa could be worth $130 million to $150 million when the company is transferred to a limited partnership. That should be ammunition aplenty for a little Pickens...
...industry insiders said the aborted merger was a bad deal from the beginning. "It would never have worked," said Alan Edgar, an energy analyst for the securities firm of Schneider, Bernet & Hickman in Dallas. "Two ugly ducklings just won't make a swan." Concurred E.F. Hutton's William Craig: "It looked like a terrible deal for Occidental." He pointed out that Diamond Shamrock's principal oil holdings, which are in Indonesia, are being rapidly depleted...
...partners held in the company. That stands to earn the group an $89 million profit, and started speculation about Pickens' next target. "I think he is going to do the same thing again, and sooner rather than later," says Alan Edgar, an energy analyst for Schneider, Bernet & Hickman, a Dallas securities firm. Pickens himself remains tight-lipped: "We'll look at anything that makes sense," he says. "And that's the end of that conversation...
...Jack Fourier, a local rancher, donated a frozen brahma bull to hungry Sioux 50 miles away, and used his chain saw to carve up the carcass. "In weather like this," said Fourier, "people got to pitch in for each other." In northern Indiana, people did just that. Paramedic Robert Hickman flagged down a freight train and highballed it 3½ miles to pick up Kelly Braggs, 20, stranded in her rural home and suffering from a serious pituitary deficiency. The train then backed up 33 miles to Lafayette, " where Braggs was hospitalized...