Word: oilman
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Idaho Republican Congressman George Hansen was found guilty by a Washington jury last week of "willfully" failing to include four financial transactions on disclosure forms required of federal officials and legislators. Most of them involved loans to himself or his wife, including $61,503 from Texas Oilman and Silver Speculator Nelson Bunker Hunt. While awaiting sentencing and his appeal of the verdict, he will be investigated by the House Ethics Committee, which could recommend that he be censured or expelled from the House. Meese has admitted that he failed to include a loan to his wife and a related stock...
Bought by Millionaire Oilman Clint Murchison for $600,000 in 1960, the Dallas Cowboys were sold for some $75 million last week to an eleven-member local consortium headed by Multimillionaire H.R. ("Bum") Bright, who likened the purchase to art collecting ("You can enjoy it even though you didn't paint it"), and promised not to call any plays. "It will provide some return but not a good one," said Bright, whose 17% constitutes the largest share. "You would do better in Government bonds...
...civil war among the shareholders of Gulf Oil, the leaders of the opposing camps both speak with Southern accents, but there the similarities end. The challenger, Chairman T. Boone Pickens Jr., 55, of Mesa Petroleum in Amarillo, is a dashing, salty Texas oilman who delights in telling earthy jokes. The defender, Gulf Chairman James E. Lee, 61, is a bald, straitlaced native of Mississippi who sometimes leads prayers before gatherings of his board of directors. While Lee has spent his whole career plodding through Gulfs corporate ranks, Pickens is a free-spirited dealmaker whose company has bought and sold stakes...
...Oilman Pickens rides again...
Next to racquetball, playing poker and flying in his Learjet, there are few pastimes that Texas Oilman T. Boone Pickens Jr., 55, enjoys more than swooping down on vulnerable companies and giving their managers the willies. During the past 16 months, Pickens has earned $105.7 million for his company, Mesa Petroleum, by buying up large amounts of undervalued stocks and selling them at a handsome profit, sometimes back to the company whose stock he bought. Early this year, for example, he bought a large stake in Superior Oil, then in September sold it back to Superior for a $31.8 million...