Word: rawleigh
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...using a little-known procedural rule at a late-night session. In the Senate, however, Mobil--represented by former Carter Aide Stuart Eizenstat--was able to stop the bill when Senator Howell Heflin of Alabama blocked consideration on the Senate floor. Heflin is a friend of Mobil Chairman Rawleigh Warner...
Mobil Chairman Rawleigh Warner Jr., who began his company's involvement with ( Montgomery Ward, may be watching it end from a distance. He announced last week that he will step down as chairman next year, when he reaches 65, to be replaced by Allen Murray, 54, the current president...
...about the oil business last month, the paper gave short shrift to a piece of news that the company thought was important-the closing of a Mobil refinery in West Germany-and devoted a separate story to a report that Percy Pyne, the son-in-law of Mobil Chairman Rawleigh Warner Jr., would benefit financially from the company's construction of a $300 million office tower in Chicago. As a result, Mobil announced last week that it will no longer have "anything to do with the Wall Street Journal." Said John Flint, a Mobil spokesman: "Specifically we will...
...Rawleigh Warner...
...executive pay is its frequent failure to correlate with company profits. Says Sibson's Johnson: "The madness we see in executive compensation is that we pay star performers too little and poor performers too much." In 1982, for instance, when Mobil earnings dropped 43%, the salary of Chairman Rawleigh Warner Jr. increased 36%, to nearly $1.4 million. The struggling International Harvester loaded rewards upon Chairman Archie McCardell in the late 1970s and early 1980s even though the company suffered a devastating strike and came close to bankruptcy. When McCardell finally left the ailing company in 1982, it gave...