Word: mobil
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...investing in South Africa (S.A.)? 350 American companies do business in S.A., but 10 of them account for nearly 90 percent of all American investment in S.A.: Mobil. $450 million; IBM $360 million; Caltex, $334 million; Ford. $213 million; Kennecott, $130 million; Phelps-Dodge, $130 million; GM, $129 million; Newmont Mining, $127 million; Union Carbide, $51 million; Goodyear, $20 million...
...nothing else, the new rules should prevent some wasted effort in takeover battles. Since 1979, American businesses have spent $182 billion to merge with or acquire other firms. Companies, though, often complete a deal only to have Washington veto it as anticompetitive. Last year Mobil Corp. announced plans to spend an estimated $6.5 billion in what eventually turned out to be a futile struggle to acquire Marathon Oil Co. The takeover was blocked in federal court because it was decided that such a merger would have an adverse effect on competition in gasoline retailing in the Midwest...
...when petroleum prices were spiraling, the oil giants posted quarterly profit gains of 100% or more Now that the recession and the worldwide oil glut have caused prices to start falling the gusher of petroprofits is over, at least temporarily. Exxon's first-quarter earnings dipped 23%, Mobil's were down 49% and Standard of California's dropped a sharp...
...copy, Off the Wall Street Journal is a worthwhile investment for anyone who thinks that the state of the American economy is something to laugh at. Among the funnier send-ups: a deadpan report on a failed takeover bid by the Mobil Corp., this time for Bill's Hoagie Stop; a slice-of-life jape about the current fascination with economic jargon, depicting a scatological barroom brawl over monopsony, diminishing rates of transformation, and the Laffer Curve...
Although Shea said that $350,000 was spent in the production of the program, an ICA spokesman said almost all of that money was reimbursed to the government through private donations. These private donors included Mobil Oil, Dow-Corning Corp., and Quaker Outs...