Word: oilman
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...rate they are going, the Hunt brothers of Texas may lose so much of their fortune that they will be able to count what remains at the kitchen table. Just eight years ago, Nelson Bunker, 62, William Herbert, 59, and Lamar, 56 -- heirs of the legendary Oilman H.L. Hunt -- commanded a combined net worth of more than $5 billion. Since then their fortune has plummeted to $1 billion or less, and it could keep right on shrinking until they are no longer "big rich," as Texans refer to the truly wealthy. The brothers are fighting a complex and heated battle...
...friendly acquisition by Warner Communications, whose TV studio already produces such hits as Night Court and Growing Pains, for $630 million in stock and the assumption of $550 million of Lorimar's debt. But late in the week came word of a potential rival bid. Marvin Davis, the Denver oilman who once owned 20th Century Fox, is considering making an offer of about $690 million for Lorimar. A Dallas-style brawl may ensue...
...culture, had visions of an intellectual elite he called the Remnant. Another, Yale Political Scientist Willmoore Kendall, argued that the interests of the majority should always prevail over individual rights. A loathing of the left had already been passed on to Buckley by his father Will, a Texas-born oilman who made a fortune in Mexico, only to have most of his property there seized in the years after the 1910 revolution...
...California-based Bechtel Group has confirmed that it actively sought the billion-dollar construction job, which was to have been privately financed. Bechtel sources say Wallach was involved in the deal as legal counsel for Bruce Rappaport, a Geneva-based international oilman, who was to handle the pipeline oil sales. Citing his closeness to Meese, Wallach contacted several Administration officials to see if money earmarked for Israel by Congress could be used to insure the pipeline against an Israeli attack. The project was abandoned when proposed lenders asked for guarantees of repayment even if the line was damaged...
...other players think that now is a good time to get into the game. Says T. Boone Pickens, the Texas oilman and raider extraordinaire: "If companies were attractive targets when the Dow was at 2500, they will be even more attractive with the Dow at 1800." Manhattan Financier Asher Edelman has spent $72 million since late August to accumulate 11.5% of Foster Wheeler, a New Jersey-based construction company; much of the buying came as the firm's stock tumbled, from $21 to $11.25, amid the crash. Paul Bilzerian, a Florida investor who has made more than $50 million...