Word: jacoboski
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Alaska v. Exxon et al is likely to break some courtroom records. Robert LeResche, who heads the state's investigation of the spill, believes the legal wrangling will last at least a decade. "Out of the approximately 150 suits filed against Exxon, this is the big one," says Bryan Jacoboski, who follows the oil industry for Paine Webber. "It will keep Exxon's stock from going anywhere for a long time...
Although the cleaning bill has slashed Exxon's second-quarter profits from $1 billion to $160 million, the world's largest oil company has so far suffered no serious financial hardship. Even so, warns Bryan Jacoboski, who follows the oil industry for PaineWebber, "I think this could be only the tip of the iceberg...
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