Word: ponte
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...expanding, astronomers used that ratio to reckon the universe's age and size. Trouble was that the Hubble constant proved notably fickle, as succeeding generations kept measuring the distance of different celestial bodies and getting different results. Admits Allan Sandage, who is using the new 100-in. Du Pont telescope at Las Campanas, Chile, to make his own measurements of the constant: "Everyone in this game is in disagreement...
...battle early between U.S. Steel and Mobil for control of Marathon Oil. U.S. Steel last week seemed assured of victory in its takeover bid, estimated to cost $6.15 billion, the second largest corporate coupling in U.S. history. (The largest merger was the $7.5 billion merger of Conoco and Du Pont in 1981.) Workers began to prepare checks for the 17,000 selling Marathon shareholders just hours after Supreme Court Chief Justice Warren Burger gave a green light to U.S. Steel's offer of $125 a share for 51% of Marathon's stock. Two months ago, the oil company...
With stunning swiftness, the $6.5 billion battle between Mobil Corp. and U.S. Steel for control of Marathon Oil turned nasty last week. Mobil, still frustrated and angry over its defeat by Du Pont earlier this year in the struggle to take over Conoco, seemed on the brink of losing again. Then Mobil suddenly went on the offensive with a daring ploy. The oil company announced that it intended to buy up to 25% of its bidding rival, U.S. Steel. Said one banker involved in the dealing: "They have tried to put a gun on the head of U.S. Steel...
Mobil, however, has been ham-handed in its efforts to buy another oil company. Some industry observers blame its failures on the insistence of Chairman Rawleigh Warner and President William Tavoulareas that they plan their own tactics without consulting outside advisers. Mobil lost out to Du Pont in the contest for Conoco by coming in with a low bid. Its initial $5.1 billion offer for Marathon in October was also immediately denounced as "grossly inadequate" by the company's president, Harold Hoopman. Said a leading investment banker: "If Mobil had bid $126 a share from day one, instead...
Besides John Henry, other eminent geldings were Kelso, who made $1,977,896 from 1959 to 1966, and Forego, whose six-year career in the '70s brought $1,938,957. Today Kelso is employed in Maryland as Mrs. Richard C. du Pont's favorite saddle horse, while Forego is a pensioner in Kentucky. These are unusually fine fates for unusually fine geldings, and John Henry can breathe easy too. More typical are the fates of Neapolitan Way and Hugable...