Word: mesas
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Dates: during 1980-1989
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Next to racquetball, playing poker and flying in his Learjet, there are few pastimes that Texas Oilman T. Boone Pickens Jr., 55, enjoys more than swooping down on vulnerable companies and giving their managers the willies. During the past 16 months, Pickens has earned $105.7 million for his company, Mesa Petroleum, by buying up large amounts of undervalued stocks and selling them at a handsome profit, sometimes back to the company whose stock he bought. Early this year, for example, he bought a large stake in Superior Oil, then in September sold it back to Superior for a $31.8 million...
Sergio López-Mesa San Pedro, Calif...
...black-and-white tomcat named Jober, who owes one of his nine lives to a $19 accident policy. When Jober was hit by a car and suffered a fractured skull, the policy covered $200 of its $354 hospital bill. Jober's owners, Lou and Fran Bruno of Costa Mesa, Calif., admit they would otherwise have had second thoughts about having the expensive treatment. Said Bruno: "We were so happy to be able to tell the vet to go ahead and do what he could...
...supporters in the struggle is T. Boone Pickens, chairman of Mesa Petroleum and a takeover artist. Mesa already owns a reported 3.2 million shares in Superior and plans to vote them for Day's proposals in May. Pickens sees the Superior fight as a sign of things to come. Says he: "We are entering an era of stockholder awareness...
...find and develop wells and then were startled when consumption dropped and prices fell. OPEC, which had been trying to resist the slide, acknowledged the new era last month by cutting its official price 15%, from $34 to $29 per bbl. Observes T. Boone Pickens Jr., chairman of Mesa Petroleum and a 32-year veteran of the industry: "I've never seen a collapse as dramatic as this has been. It's an unbelievable situation...