Word: mesa
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Dates: during 1980-1989
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...shark in the corporate sea lost a few teeth. In his first clear defeat, Pickens grudgingly agreed to halt his three-month pursuit of California's Unocal, the twelfth largest U.S. oil company. While Pickens maintains he will at least break even on the deal, analysts expect that the Mesa Petroleum chairman and his partners will actually lose as much as $100 million. More important, the episode has broken Pickens' momentum and sent a discouraging word to other raiders...
When Washington first imposed a trade embargo on Cuba in October 1960, it hoped to force Havana to abandon Marxism. Today, nearly 25 years later, the Cuban government is still Marxist, and it is one of Moscow's closest allies. The example is mentioned by Carmelo Mesa-Lago, director of the Center for Latin American Studies at the University of Pittsburgh, as evidence that trade sanctions are at best only temporarily damaging. In the long run, he believes, the embargo against Nicaragua "will not work. History shows it did not work in the case of Cuba...
...million) is smaller than Cuba (pop. 10 million) and has fewer resources and is a less developed economy. Unlike Cuba, Nicaragua still has a large private sector (at least 60% of its economy), which is likely to be severely hurt by the U.S. embargo. That is one reason, warns Mesa-Lago, why sanctions may serve to rally some Nicaraguans around the very government that Washington finds so repugnant...
...takeover skirmishes last week added fresh fuel to the controversy. In Texas, T. Boone Pickens, chairman of Mesa Petroleum, announced an $8.1 billion offer for Unocal, the twelfth largest U.S. oil producer. Pickens and his partners, who announced in February that they were investing in the California company, now hold more than a 13% interest and are seeking majority control...
...circles around California's Unocal, the 14th largest U.S. oil company (1984 sales: $11.5 billion). Corporate Raider T. Boone Pickens started buying into the company's stock, insisting at first that he intended to make only a modest investment. Pickens confirmed last week that his appetite has grown. The Mesa Petroleum chairman announced that his investor group, which now holds 13.6% of Unocal, is seriously considering an effort to gain control of the company. Pickens' group last week asked Unocal to postpone its annual shareholders meeting, scheduled for April 29, by two months so the | Texas oilman could assemble...