Word: mobiles
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Dates: during 1970-1979
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...interiors and landscaping for the U.S. Pavilion at Montreal's Expo 67, and is doing the John F. Kennedy Memorial Library's displays. Seeking to put personality into corporate identity, he has designed trade logos, exhibitions and lobbies for such clients as Pan American World Airways, Mobil Oil, the Chase Manhattan Bank. Born in London, he lived in Canada, graduated from Yale, is now a partner in design firms in New York and Cambridge, Mass. Recently he conceived the symbol and identity program for the American Revolution Bicentennial Commission...
...Mobil quickly ran into a barrage of objections. Congressional critics noted that oil companies have said that their high profits (Mobil's rose 48% in 1973, to $849 million) were needed to finance oil exploration, production and refinery building-not diversification. Federal Energy Administrator John C. Sawhill, who has defended oil profits as "necessary" on precisely that ground, complained that Mobil's plan "puts me in a difficult position...
...Enough. The Department of Justice is expected to look into possible antitrust violations. In 1969 John Mitchell, then Attorney General, announced that the department "may very well oppose any merger among the top 200 manufacturing firms or firms of comparable size in other industries." Since Mobil is the seventh largest industrial firm by sales and Marcor the fourth biggest general retailer by assets, a merger between them would seem to fall squarely within the Mitchell guideline...
...Mobil, of course, could go ahead with a tender offer to Marcor stockholders without the consent of Marcor's managers. A Mobil spokesman noted that the company has "had a policy since 1968 of seeking out diversification opportunities." Having taken six years to select a suitable partner, the odds are that Mobil will not give up easily...
...Only two weeks ago they completed an interim deal that raised their ownership from 25% to 60%-a move with ironic consequences in light of their stated desire to lower prices. Under the complicated oil pricing system, the four American oil companies (Exxon, Texaco, Standard of California and Mobil) that have part-ownership of Aramco will have to "buy back" 60% of Aramco's daily output at 93% of the posted price, raising the market price of Saudi crude by about $1 per bbl. But when the Saudis take complete control of Aramco, they will have to set directly...