Word: jefferson
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...biggest merger in U.S. corporate history. Du Pont, the largest U.S. producer of chemicals, had secretly offered to buy Conoco, the ninth biggest American oil company. After five hectic days of staff work, the deal seemed set. On Sunday night of the July Fourth weekend, Du Pont Chairman Edward Jefferson flew from his headquarters in Wilmington, Del., aboard a King Air twin-engine turboprop to Stamford, Conn., for a midnight meeting with Conoco Chairman Ralph Bailey in that company's boardroom rotunda. Just after 1 a.m. the two weary, rumpled chief executives settled final details, sealed the agreement with...
...June 24, the day before the Conoco-Cities Service merger was to be announced, the phone rang in Bailey's office. The caller: Du Font's Jefferson. His question: "Is there any constructive role we can play?" Bailey thanked Jefferson for his concern about the Seagram bid, but replied that he was already negotiating with another company...
Within 24 hours Bailey was on the phone to Jefferson. "Now you can help," said Bailey. The merger talks moved swiftly, in part because Bailey, 57, the burly son of an Indiana coal miner, and Jefferson, 59, a London-born intellectual with a Ph.D. in chemistry, knew each other well. They had worked together on joint gas-exploration ventures that Du Pont and Conoco had begun three years ago in Texas. Jefferson flew to Stamford four times in the next eight days. All along, he assured Bailey that Conoco's management would not be changed...
...Detroit, already depressed by the auto industry slump, Arthur Jefferson, superintendent of the city schools, counts on receiving only $50 million of federal money next academic year, down from $65 million in 1980-81. Remedial reading and math programs will be among those to suffer most, he says. Cutbacks in federal programs not being lumped into block grants will hurt too, of course. St. Louis has a waiting list of 10,000 people eager to move into subsidized housing, but expects to get only 250 subsidized housing units next fiscal year...
...sustained by events in the air since the nation's birth. From Philadelphia in 1793, George Washington wrote out a note in English for Jean Pierre Blanchard so that the French balloonist, on his pioneering flight over the Delaware River, would not panic the New Jersey natives. Thomas Jefferson benefited from early airmail in 1803: a carrier pigeon flew from New York to Washington bearing the good news that Napoleon had agreed to the Louisiana Purchase. Teddy Roosevelt was the first occupant of the White House to fly, even though he was no longer President when...