Word: mobilize
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...largest white knight merger of all was Du Pont's purchase of Conoco in September 1981 for $7.4 billion, against hostile bids by Mobil and Seagram. Conoco has turned into Du Pont's most profitable division; its performance blocked Du Pont's earnings last year from being even lower than they were. But the recession has weighed heavily on the chemical giant, making the huge debt from the Conoco purchase harder to carry, and forcing the company to omit its customary extra year-end dividend. To save money, Du Pont executives have announced plans to close Conoco...
...currently groaning under the burden of Cities Service, for which it shelled out $4 billion last year. Oxy's long-term debt has now jumped from $1 billion to $5 billion, while its earnings have dropped from $722 million to $221 million. Similarly, U.S. Steel fought off Mobil to rescue Marathon Oil and is now struggling with the $6.7 billion price of its chivalry. Its steel business is down sharply, and while Marathon's earnings were at a record high last year, they are currently threatened by the downturn in oil prices. To help compensate, Big Steel...
...Chicago and San Francisco. It is the most expensive art exhibition ever put on in America. It cost $8 million to prepare, ship, insure and mount, and involved the largest single grant ever laid out by a corporate sponsor: $3 million from Philip Morris, which is to museums what Mobil and Exxon...
Stormy meetings of the oil ministers last May and again in December failed to resolve the problems of quota cheating and price discounting. Pressure on the Saudis reached a peak last month. Their four main oil-company customers-Exxon, Mobil, Texaco and Standard Oil of California-threatened to turn to other suppliers if the Saudis did not lower their price. At conferences in London and Geneva, Yamani huddled with top executives from the four firms, who brought confidential figures to show the oil minister how much they were losing by staying with Saudi crude...
...channels thrive on TV reruns: you can catch Mary Tyler Moore every night and M-A-S-H ten times a week. On the 24-hr. Cable Health Network, a psychiatrist is either preventing or precipitating a woman's emotional collapse. On an ad hoc network formed by Mobil Oil, the Royal Shakespeare Company revives Nicholas Nickleby and the sagging post-holiday spirits of 10 million viewers. And on each of the three "major" networks, a cop is still chasing a crook, another teenager outsmarts her sitcom dad, a nest of vipers buzzes in the bosom of one more...