Word: targets
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Dates: during 1980-1989
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Such tactics have made Pickens the scourge of the oil patch. Shareholders of Mobil (1984 sales: $54.6 billion), which has been rumored for months to be a ( Pickens target, last week approved a variety of so-called shark repellents designed to ward off corporate raiders. Among the measures was a provision requiring that an unwanted merger be approved by an 80% vote...
Pickens moves with cloak-and-dagger stealth once he decides which firm to attack. Only a few Mesa insiders like Financial Vice President David Batchelder, 35, know the target. To keep its identity secret, Pickens gives it a code name (Gulf was "Barrel Cactus," for a plant in Pickens' office), which he uses while accumulating the company's stock. Money for the purchases is funneled in chunks of up to $50 million to Broker Alan Greenberg at the Wall Street firm of Bear, Stearns, and to other securities houses. Pickens transfers the huge sums from numbered bank accounts around...
Despite such precautions, rumors cropped up last month that the Securities and Exchange Commission was investigating whether Pickens gave friends in Amarillo advance word of his campaigns to enable them to buy the stock of target companies before it jumped in value. Pickens strongly denies that and says that the SEC "has never questioned me about insider trading...
Pickens was also devising the tactics that today make his raids akin to a declaration of war. Mesa analysts first study a prospective target in minute detail. "By the time my guys get through with the numbers," Pickens says, "we know those companies better than they know themselves." The team spends months sifting reams of public documents, including the annual reports and other resources kept in Mesa's extensive library of the U.S. petroleum industry. The researchers focus on a firm's domestic oil and gas reserves and feed their data, along with such matters as projected interest rates...
...supply computers that monitor the movement of Blacks" and the technology "that the military and police force use to suppress the majority," Well, the high tech items we trade to the Soviet Union are used to stifle opposition and indeed to build the guidance systems designed to target missiles at the United States. Is dialogue equitable with the Soviets, but not the South Africans...