Word: mobiles
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Dates: during 1970-1979
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...combination would be one of the biggest in U.S. business history. At last week's prices, buying the necessary shares would cost Mobil (which already owns 4.5% of Marcor's stock) at least $350 million. Adding Marcor's $4 billion 1973 sales to Mobil's $11 billion would boost Mobil from seventh rank in the FORTUNE 500 list to fourth...
...companies, facing the certainty of takeovers of their overseas wells by many foreign governments, have been seeking to hedge their bets. Gulf Oil, for example, in the last year has tried unsuccessfully to buy the CNA insurance business and even the Ringling Bros.-Barnum & Bailey circus. Last week Mobil Oil went it one better by announcing plans to make a tender offer for 51% of the stock of Marcor Inc., the parent company of the Montgomery Ward retail chain and Container Corp., a packaging giant...
...doubts about the council's effectiveness remain. Last week, for example, it deftly sidestepped a host of complaints registered by the Mobil Oil Corp. against a March 20 ABC television News Closeup special on "Oil: The Policy Crisis." The ABC program indicted Government oil policies, blaming them and the major oil companies for leading the nation into last winter's energy crisis. Offended by ABC's interpretation, Mobil listed 32 "particularly inaccurate or unfair" statements in the broadcast. Astonishingly, the council's decision, written by National Review Publisher William Rusher, concluded that it would...
Editorial Impression. The verdict left Mobil officials "disappointed" and the question of "inaccuracies" in the ABC special unresolved. Some of Mobil's complaints seem specific enough to merit more than a blanket dismissal. To the ABC statements that Government policy encourages foreign oil exploration at the expense of domestic drilling, for instance, Mobil responded that over the past ten years it has devoted about two-thirds of its exploration funds to projects in the U.S. In refusing to deal individually with such areas of disagreement, the council defended ABC's right to create any "editorial impression" it wants...
...executives have been saying for months that profits would be strong again this quarter, but some of the gains were truly spectacular: Shell, up 52% over the 1973 first quarter; Mobil, 66%; Gulf, 76%; Standard of Indiana, 81%; Standard of California, 92%; Texaco, 123%; Continental, 130%; and Occidental, a stunning...