Word: occidentale
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Occidental Petroleum is 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...
Virtually every corner of Mexico's diverse geography is touched by the economic blight. In the northern Sierra Madre Occidental and Sierra Madre Oriental mountains, which is the storehouse for an array of mineral wealth, mining production has declined by 10%. Mexico's manufacturing industries and light assembly...
The Americans and the Soviets met in Moscow's new International Trade Center, financed primarily by U.S. banks and built with American materials. One buffet luncheon was organized by Armand Hammer, 84, the chairman of Occidental Petroleum, who knew Lenin and who has been doing business with the Soviets...
If trade is an instrument for gaining leverage over Soviet behavior, the U.S. has yet to figure out how to use it. One school says: Trade with the Soviets a lot-get them to drink our soda pop, wear our blue jeans, buy our ball bearings and computers and grain...
America has become inured to colossal business mergers in the last two years. Weddings like those of Occidental Petroleum and Cities Service, United States Steel and Marathon Oil, and the record-setting $7.5 billion union of Du Pont and Conoco have sometimes been shotgun affairs, sometimes harmonious ones. Throughout, the...