Word: oiled
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Several GM board members have served since the late 1990s, so they have seen enough of the history of the car industry to know that oil does not stay cheap forever. Two of the longer serving members on the Ford board are members of the founding family. They could hardly have missed the lessons of the early 1970s oil crisis...
Each of these four companies has directors who chose not to ask hard questions and demand answers. How does a bank that was making $1 billion a year suddenly make $10 billion? How does a car company that nearly went out of business when oil prices rose sharply over three decades ago decide to reduce spending for the development of fuel-efficient vehicles...
Auto-Tune's inventor is a man named Andy Hildebrand, who worked for years interpreting seismic data for the oil industry. Using a mathematical formula called autocorrelation, Hildebrand would send sound waves into the ground and record their reflections, providing an accurate map of potential drill sites. It's a technique that saves oil companies lots of money and allowed Hildebrand to retire at 40. He was debating the next chapter of his life at a dinner party when a guest challenged him to invent a box that would allow her to sing in tune. After he tinkered with autocorrelation...
...want to take the pulse of Russia as its oil and gas boom of the past few years comes to a sudden and wrenching stop, leave behind the garish consumerism of Moscow and drive 220 miles (355 km) southwest to the small Russian town of Lyudinovo. For the first part of the five-hour trip, the road is a smooth four-lane highway that whisks you past gleaming gas stations and a brand-new Samsung TV factory. Then everything slows down. The highway turns single-track and becomes progressively rougher. For the last 20 miles (32 km), you bump along...
...middle of an economic meltdown. Nowhere has that been more evident than in Britain - long the European Union's most enthusiastic cheerleader of American-style deregulation and free trade. On Monday, U.K. unions held a repeat of last week's wildcat strikes protesting a decision by a French-owned oil plant to bring in 300 Italian and Portuguese contract laborers. British workers at the refinery in northeast England say they want jobs to go to locals, not to cheaper foreign workers. The move sparked rare oil-worker walkouts across the U.K. Workers want Prime Minister Gordon Brown to make good...