Word: oiled
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Dates: during 1980-1989
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Either way, Davis is likely to score big, which is his habit. He used his oil profits in 1981 to buy 20th Century Fox, then sold it to Rupert Murdoch four years later for an estimated profit of $325 million. Davis picked up another $50 million by buying the Beverly Hills Hotel from the family of insider trader Ivan Boesky in 1986, then turning around and selling it to the Sultan of Brunei. Even Davis' "dry hole" takeover attempts often pay off. While Los Angeles investor Alfred Checchi won Northwest with a $4 billion bid, for example, Davis pocketed...
...Rutgers University and the University of Pennsylvania's Wharton School, he gave up a 25-year banking career in the late 1970s, after the breakup of his first marriage, to work as a shipping manager in Jidda, Saudi Arabia. Following a four-year stint as an employee of an oil cartel in London, Cicippio accepted the job at the American University in June 1984. "None of us wanted him to go, but he had made up his mind," said his brother...
...situation seems promising. A nuclear submarine has a mysterious accident at the edge of an ocean canyon, and the only hope for rescue is the crew of a futuristic underwater oil-drilling rig working nearby. The rig's designer (Mary Elizabeth Mastrantonio), who is the estranged wife of its master (Ed Harris), drops down to help and bicker. So does a Navy diving team whose leader (Michael Biehn) suffers a psychotic break caused by the great depths. He becomes particularly obstreperous after he recovers a warhead from the wreck...
Military persuasion, though used intermittently, has in recent crises begun to bear fruit. Despite making little head-way with the hostages, the Reagan Administration successfully defended U.S. economic (oil and shipping) interests in the Persian Gulf by dramatically stepping up the presence of the Sixth Fleet there...
Although the cleaning bill has slashed Exxon's second-quarter profits from $1 billion to $160 million, the world's largest oil company has so far suffered no serious financial hardship. Even so, warns Bryan Jacoboski, who follows the oil industry for PaineWebber, "I think this could be only the tip of the iceberg...