Word: texaco
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Dates: during 1950-1959
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...expensive that only a few of the biggest sponsors can afford more than a half-hour show; color TV will increase the costs. When the cost of Milton Berle's Tuesday night hour soared from $17,500 to $150,000 a week, it became too much even for Texaco (Buick has since taken over...
...prospectors are closemouthed about their operations (Texaco does not tell Gulf), but Lundberg says that his scintillometer surveys in various parts of the world "are running, to our amazement, a little less than 50% right...
...quit his native Norway at 15 to go to sea in sailing vessels, got into tankers just as Spindletop and the Auto Age gave the U.S. oil industry its biggest boost. He became a tanker captain for _ the fledgling Texas Co., later built up its tanker fleet and ran Texaco's overseas sales. He became chairman of the board in 1935 arid made deals all over the world to increase Texaco's own oil production...
...World War II began, Cap Rieber managed to get some German-built tankers in exchange for blocked currency. Even though the deal was approved by the warring British (who thereby chartered two of Texaco's tankers), it set off yelps that he was "pro-Nazi." Rather than risk hurting the company. Rieber resigned with a sailor's cheerful certainty that "no matter how fierce a storm may come, it always calms down...
While rebuilding Barber, Rieber kept his eye on American Republics, founded by the late J. S. Cullinan, one of Rieber's old Texaco bosses. In 1946, after the stock market slump had knocked American Republics shares down to $11.50, Rieber began spending some of Barber's idle cash picking them up. By 1952 he had acquired 33⅓% of the stock for an average price of $25. By so doing, he made American Republics a bigger tail than the Barber dog. Last year the company grossed $22.2 million, netted a thumping $5,200,000 after taxes. Last week...