Word: mobilize
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...Mobil...
...When Mobil Corp. President William Tavoulareas won a $2.05 million libel judgment last year against the Washington Post, attorneys for the newspaper predicted that the jury's finding would be set aside by the judge who tried the case. They were right: last week Federal District Judge Oliver Gasch threw out the verdict. Tavoulareas is a "public figure," Gasch ruled, and thus was required to prove that the Post knew its story was false or showed reckless disregard for its accuracy. Said Gasch: "There is no evidence that the editors responsible for the article ever doubted its truthfulness...
...suit stemmed from a two-part 1979 article that charged Tavoulareas "set up" his son Peter in a shipping company financed by Mobil. The venture, launched in 1974, made Peter, now 33, a wealthy man. Post reporters and editors admitted that the story inaccurately faulted Mobil for violating a federal disclosure rule that applied only to family members who live under the same roof; Peter Tavoulareas did not live with his father. Noted Judge Gasch: "The article falls far short of being a model of fair, unbiased journalism." Post Executive Editor Ben Bradlee was more upbeat: "We are delighted...
...some respects, those two giants should actually be helped by $29 oil. Reason: both are U.S. partners-along with Mobil and Standard Oil of California-in Aramco, which produces most of Saudi Arabia's oil. All four had been paying the official $34 OPEC price for the Saudi crude, even though cheaper supplies were available elsewhere. Now the March price cut has freed them of that burden. So far, however, analysts have seen few immediate signs of improvement in the overall industry outlook. Says William Randol of First Boston, an investment banking firm: "This year's first-quarter...
...crude, dropped 2% during the week. The four U.S. partners in Aramco, which pumps most of Saudi Arabia's crude, held up better than the rest. The reason: any cut in the official OPEC price will help end the squeeze that the four-Exxon, Standard Oil of California, Mobil and Texaco-have suffered as the spot oil price (see chart) has fallen below the $34 that they now pay the Saudis...