Word: ketelsen
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...once great computer giant that has lost $8.37 billion so far this year. In June a troubled Westinghouse Electric asked Michael H. Jordan, a partner at the New York City investment firm Clayton Dubilier & Rice, to succeed outgoing chairman Paul Lego. Former Union Pacific chairman Michael Walsh replaced James Ketelsen at Tenneco, a Houston-based auto-parts, shipbuilding and natural-gas conglomerate. Outsider Stanley Gault left retirement to take charge of laggard Goodyear. And Lawrence Bossidy, a General Electric veteran was recruited for the top job at Allied Signal, whose business supplying components to the aerospace industry...
...snarl, and 1,000 more cars and trucks drive onto the city's potholed roads every week. Houston has badly mismanaged its water supply. Flooding is routine. Parts of the city, built over increasingly depleted underground water, have sunk as much as a foot since 1973. Concedes James Ketelsen, chairman of Houston-based Tenneco Corp.: "Houston lacks the forward planning and leadership to keep up with services. It's obvious the city hasn't kept pace with growth." The city may have learned its lesson. Last week voters overwhelmingly elected Kathryn Whitmire, 35, the city controller...
What are the chances? Not bad, says Ketelsen. Decontrol of U.S. gas prices has made deep drilling worthwhile; there is a lot of gas 15,000 to 25,000 ft. below Louisiana, Oklahoma and probably New Mexico. Just last week, Tenneco struck gas in the previously discouraging Baltimore Canyon, 80 miles off the New Jersey shore. Farther in the future, Ketelsen has hopes for geopres-surized gas-squeezing out large amounts of methane that is mixed in with sea water in mammoth caverns along the coasts of Louisiana and Texas. The $3-per-bbl. tax credit, now proposed...
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