Word: oilmen
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...oilmen, they mean hefty savings in exploration costs, since fern fossils will indicate at what depths oil is likely to be found. Fern spores, very common in fossil records, are used to date the age of rocks below the earth's surface. Since scientists know that rocks of a certain age-or depth-are more likely to contain oil than others, fern-spore dating can help them decide whether to drill deeper to find...
While ferns are a valuable asset to oilmen, coal producers use them to judge the quality of coal deposits...
...should not mean encouragement for corporate moguls to attack each other in heady games involving billions of dollars' worth of the nation's potential seed money. The anti-trust legislation is already in place to fight back against the clustering of wealth and power in a small group of oilmen and profiteering kamikazes--and it must be used...
...investor group headed by the Bass family, the billionaire Texas oilmen who already control 9.8% of Texaco stock, reportedly lined up an additional $160 million of financing. That sparked rumors that the Bass brothers were joining forces with Pennzoil, the Houston oil company that was spurned in its bid for Getty, to make an assault on Texaco, the eventual winner...
...bank's $1.4 billion in deposits. First National responded by tightening its loan policy, selling its headquarters for $75 million, and in July hiring a new president, Thomas Wageman, formerly president of Chicago's LaSalle National Bank. Its directors, who include some of Texas' wealthiest oilmen, pledged to pump in some $40 million. But First National had drilled itself too deep a hole. Its percentage of nonpaying loans (about 25% of assets) is the highest of any large bank in the U.S. By the time the FDIC stepped in last week, the Federal Reserve had already extended...