Word: tenneco
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Dates: during 1970-1979
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...combat these fast-growing upstarts, the big oil firms are experimenting with a variety of customer come-ons. Tenneco stations in the South have opened convenience stores that sell such things as beer and sandwiches. To entice shutterbugs, some Shell stations have installed Fotomat shops next to their pumps. The majors have also started selling private-label gas brands that are not expensively advertised and can be sold at rock-bottom prices. Mobil, for example, has introduced Big Bi and Hi Val gas in some areas. This practice has often put the majors in direct competition with their own stations...
...trend toward monopolization of the nation's grocery markets by a few chains is matched by the domination of cropland by a few large, diversified companies, such as Tenneco, Bank of America, Dow Chemical, and Coca Cola. In California, 77 per cent of the agricultural land is controlled by 7 per cent of the growers, who employ 79 per cent of the state's farmworkers...
...generations of gas-turbine-powered destroyers and big helicopter assault ships, has petitioned a federal court in Los Angeles for a ruling that in effect would permit the company to halt construction of the assault ships on Aug. 1. Similarly, the giant Newport News shipyard, a subsidiary of Tenneco, has asked a federal court for permission to stop work on a guided-missile cruiser. On its own, the Newport News yard, which has been building Navy ships since 1897, has suspended construction of the most advanced U.S. nuclear carrier, the Carl Vinson...
Over the weekend, Tenneco Inc., told the SEC that it had paid $12 million to attorneys, advisers, consultants and agents in 24 foreign countries. The company said that two payments totaling $10,000 to an official of an unnamed government "were improperly described on the books of the company and may have been improperly deducted for U.S. income tax purposes." Tenneco also acknowledged making contributions to candidates in Louisiana that violated state law. Meanwhile, there were reports that the Venezuelan Government was investigating bribes paid by Occidental Petroleum to local officials...
Analysts felt both the Crane and Tenneco offers too low. Many consider Anaconda a company with potential for a strong comeback. Copper prices are expected to rise because shipments from Africa are being disrupted by the Angolan civil war. The company will probably be acquired by somebody, but it may be neither Crane nor Tenneco...