Word: tenneco
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...racial unrest continues and pressure mounts on U.S. companies to sever more and more ties, it is likely that the 240 remaining American firms have at least a plan for evacuation. Says Wall Street Analyst Pierre Rinfret, a consultant to several corporations with South African operations, including Chrysler and Tenneco: "In two years, for all practical purposes, all American investment in South Africa is going to be liquidated...
...International Harvester launched an ad campaign early this year that featured this slogan: "The commitment is forever." But last week Harvester's shaky financial condition forced it to break that promise. The Chicago-based company decided to sell its agricultural division for $430 million to Houston's Tenneco, an energy conglomerate. This means that Harvester, the descendant of a company founded by Cyrus McCormick, the inventor of the mechanical reaper, will abandon its original line of business. The divestiture will let Harvester concentrate on its profitable truck-building operation. Tenneco will merge Harvester's tractor line with...
...Tenneco...
...full-page newspaper advertisement from Tenneco Inc. brimmed with pride. As its contribution to the Reagan Administration's arms buildup, the company announced that it had delivered not one but two potent new neclear-powered warships to the U.S. Navy in a single day: the 93,000-ton aircraft carrier Carl Vinson and the 6,900-ton attack submarine Atlanta. Proclaimed the ads' headline: MISTER PRESIDENT, WE HAVE BEGUN...
...cars and trucks drive onto the city's potholed roads every week. Houston has badly mismanaged its water supply. Flooding is routine. Parts of the city, built over increasingly depleted underground water, have sunk as much as a foot since 1973. Concedes James Ketelsen, chairman of Houston-based Tenneco Corp.: "Houston lacks the forward planning and leadership to keep up with services. It's obvious the city hasn't kept pace with growth." The city may have learned its lesson. Last week voters overwhelmingly elected Kathryn Whitmire, 35, the city controller, as mayor. Whitmire promises a prudent...