Word: richfield
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Dates: during 1970-1979
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Newspapers and petroleum companies are not obvious and natural allies. So it came as a surprise to many Britons last week when the Sunday Observer (circ. 668,000), one of Fleet Street's most literate papers, was purchased by the Atlantic Richfield Co., a $7 billion Los Angeles-based oil giant. The token price: one pound sterling, or about...
...Atlantic Richfield in the newspaper business is Robert O. Anderson, 59, Arco's chairman. A part-time cattleman (his 1 million acres of ranch land make him one of the nation's largest individual landowners), philanthropist and self-styled student of social problems, Anderson is chairman of the Aspen Institute for Humanistic Studies, a social science think tank with offices round the world...
...hand over control to the right investor. Cater telephoned the Aspen Institute, which reached Anderson, and Anderson invited Observer Proprietor and former Editor David Astor to bring the paper's books with him to Los Angeles. Last week, ten days after Cater's serendipitous supper, Atlantic Richfield's board approved the purchase; the price reflected the reality that the oil company was acquiring financial liabilities, not profitable assets...
...buildings should define the life of the city. Traditionally, that decision is left to individual developers. In Los Angeles, for example, Occidental Petroleum decided that the financial center would move south of the old downtown, and built its headquarters in the likeliest southern line of growth. But Atlantic Richfield and three banks bet the movement would be westward and built their towers accordingly. As things turned out, the west won, which leaves Occidental in solitary splendor, at least temporarily. Not that it matters: the building boom in Los Angeles is not only around the new towers, but also miles away...
...Exxon, Texaco. Mobil Oil, Standard Oil of California, Gulf Oil. Standard Oil (Ind.). Shell Oil, Atlantic Richfield, Continental Oil. Phillips Petroleum, Union Oil of California, Sun Oil, Ashland Oil, Cities Service, Amerada Hess, Getty Oil, Marathon Oil. Standard Oil (Ohio...