Word: richfield
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Dates: during 1980-1989
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With the increased use of cash come problems. Last week Atlantic Richfield Co. stopped accepting credit cards, claiming that the resulting lower overhead costs would permit it to drop the price of gasoline by about 30 per gal. ARCO, though, is so fearful of gasoline stickups that it is installing safes in most of its stations...
...ACSR also split last night on a pair of proposals that ask Exxon and Atlantic Richfield (ARCO) to issue report on their activities Chile Harvard owns about $28 million in Exxon and about $34 million in Atlantic Richfield, according to the University's most recent financial report...
Americans did not have to do it. The law of supply and demand was doing everything for them. A growing glut of world oil supplies was driving down the cost of crude and the price of gasoline. Robert O. Anderson, chairman of Atlantic Richfield, told a group of TIME editors last week: "The drop in the past two months is the largest drop in the history of oil prices. We really have a moment in the industry that is without parallel...
...when oil companies are looking for new ways to lure drivers to their pumps, the once thriving company card may become an endangered species. Last week Atlantic Richfield Co., the eighth largest American gasoline retailer, an nounced that it was getting out of the credit-card business altogether. After April 15, Arco gas stations will accept neither its own blue-and-gray cards, which are held by more than 3 million people, nor those of Visa, American Express or other credit companies. Industry experts predict that other big gasoline retailers will eventually drop out of or cut back...
Feelings of impending doom, however, are not in evidence inside RCA. A key reason is Bradshaw. Drawing upon a calm management style honed during 17 years as president of the Los Angeles-based Atlantic Richfield oil company, the new boss, 64, has put an end to years of boardroom intrigues at RCA and given the firm a badly needed sense of renewed confidence in its own future. Says he: "What I have been doing is spending a lot of time finding out what kind of a company this is so that we can decide where we are going...