Word: occidentale
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Dates: during 1980-1989
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Ensconced in their aeries overlooking Santa Monica Beach, the residents of Pacific Palisades sit atop 60 million bbl. of oil. Occidental Petroleum had fought for 18 years to get at the oil, while environmentalists battled the company in court, warning of the risk of earthquakes throughout the Malibu area. The...
The 155-ft.-high derrick that Occidental plans to build will bear little resemblance to 17 other rigs in Los Angeles. Replete with white stucco and red Mexican tile, it will be disguised as a Spanish bell tower. Still, opponents are circulating petitions for a ballot initiative to prohibit drilling...
Yet the reflexive impulse to preserve everything, even the relatively new and banal, occasionally shows signs of getting out of hand. "People are just beginning to talk about ' '50s classics' now, which is a term that embraces some really appalling ticky-tack," says the British-born architectural historian Reyner Banham...
The agency's plan calls for a dramatic return to the banking business by A. Robert Abboud, former chairman of First Chicago and ex-president of Occidental Petroleum. Abboud, 58, known during a stormy 29-year career as an exacting boss, is spearheading a campaign to raise $500 million and...
Abboud is no stranger to failures, bailouts or controversy. At First Chicago in the late 1970s, he helped the bank recover from a string of bad real estate loans. But associates complained that Abboud was autocratic and contributed to flagging morale. In 1980 the bank's board ousted him. Abboud...