Word: rigging
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...wealth interfere with his passion for his ships. To handle the day-to-day operations of his empire, Niarchos has recruited some of the world's top shipping brains. His 120-man London staff, quartered in two Georgian mansions in Mayfair, is headed by Reginald John ("Square Rig") Dodds, onetime tanker boss for Shell Tankers, Ltd. which is one of Niarchos' best customers. His Manhattan office is run by Financial Expert Walter Saunders, onetime vice president of Metropolitan Life Insurance Co., which is one of Niarchos' heaviest backers. Says Niarchos: "My staff makes 60% of the decisions...
...Fleetwood played it cozy all the way. Geib stayed to leeward of the sloop Rangoon, took warning when squalls hit her and she heeled over, had ample time to douse his own spinnaker. Never for a moment did he really stop racing. With his light hull and yawl rig, Nick Geib could hoist plenty of canvas, and the race was a spinnaker run most of the way. He never hesitated to use that tricky tactic, downwind tacking. "We like to tack downwind," says he. "We keep her footing that way." Whenever the wind shifted a few degrees. Geib jibed, kept...
Courage or crapshooter's luck, the gamble paid off. In 1947, in 18 ft. of water ten miles off Louisiana, Kermac brought in the first big tidelands well out of sight of land and developed by crews living on the rig. What's more, Oilman McGee & Co. did it cheaply. Where most big companies planned huge, $1,000,000 floating platforms with rig, crew quarters and space for drilling supplies, Kermac's equipment cost only $250,000. The platform was barely big enough for the drilling rig: floating tenders moored alongside housed the crew and stored...
...outfit cost $20,-ooo but, said Lady Docker: "Since I was doing nothing more than acting as a model, I decided to charge it against tax." When the tax people objected, Sir Bernard tried to bill B.S.A. B.S.A. also objected, and finally Sir Bernard paid for the rig himself, but the incident rankled the other directors. They brought up other charges...
Through the marshes of southern Louisiana 14 months ago, an oil-drilling rig was towed into position and a 20-in. drill casing firmly planted in the muck. Fort Worth Oil Drillers Sid Richardson and Perry Bass, in a joint project with Freeport Sulphur Co. and Houston Oilman John W. Mecom, started drilling with high hopes of tapping a new field near Louisiana's rich Lake Washington field. But as the drill bit downward-to 5,000 feet, 10,000 feet, 15,000 feet-their hopes sank as fast as their costs rose. Drillers had to battle hole temperatures...