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...mammoth BP-Amoco merger is a sign that there's still money to be made in the depressed global oil market -- but only on the back of heavy sacrifice. BP's $48 billion acquisition of Amoco will see about 6,000 jobs slashed in Cleveland and Houston. "With oil prices weak, the only way for companies to remain profitable is to cut their costs," says Fortune correspondent Nelson Schwartz. "Exxon and other companies have actually boosted their profits despite the depressed market by improving their efficiency." The merger will allow BP and Amoco to remain competitive by pursuing an economy...

Author: /time Magazine | Title: A Meaner Leaner Oil Giant | 8/11/1998 | See Source »

...born control freak." An apprenticeship with the innovative opera director Jean-Pierre Ponnelle led to her 1986 European debut at Venice's Teatro la Fenice, and her work is now seen regularly at London's Covent Garden and Paris' Bastille Opera, as well as in such American cities as Houston, where her joltingly fresh takes on Puccini's Madama Butterfly and Britten's Billy Budd opened back to back in January...

Author: /time Magazine | Title: Francesca Zambello: Rattling the Cage | 8/3/1998 | See Source »

...with former pro quarterback Terry Bradshaw, Senator Strom Thurmond and Elvis Presley. "All of a sudden I have connections to all this American history," marvels the 62-year-old retired schoolteacher. Looking at the boxes of deeds, wills, marriage and birth certificates going back 11 generations that fill her Houston apartment, she says, "Once you start doing something very simple, the bug bites...

Author: /time Magazine | Title: Growing Your Family Tree | 7/13/1998 | See Source »

Lloyd Darnell says Mueller moved to Albertville in 1975 because operating costs were too high in California. It makes 500 fire hydrants a day, in an array of colors, and when stacked on pallets for delivery, the bonnets of the hydrants look like the tops of Sno-Kones. Houston orders them light blue with white trim. Indianapolis, Ind., likes them aquamarine...

Author: /time Magazine | Title: Greetings From America's Secret Capitals | 7/13/1998 | See Source »

...include that trite, tiresome hoax of the nonexistent "versatile artist" Cranford Glimp? It was demeaning to the genuine achievers you profiled and insulting to your readers. ROBERT BRIDGES Houston...

Author: /time Magazine | Title: Letters: Jun. 29, 1998 | 6/29/1998 | See Source »

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