Word: texaco
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...shares, the largest single voting block, will have no part of that. Superior's management claims that Keek's sister is in effect putting a For Sale sign on the company and making it vulnerable to a takeover by a major oil company such as Exxon or Texaco. Day has filed suit seeking to stop Superior from holding its annual meeting in May. That would forestall the re-election of directors whom Day deems obstructionist...
...Corporation voted to abstain on a resolution that would prohibit Texaco from making sales to the South African military and police. The ACSR had recommended voting in favor of the resolution...
Harvard owned about $8 million worth of stock in Texaco as of June...
...estimated $20.3 billion last year, down nearly one-third from their 1980 peak. Exxon, the world's largest industrial company, cut its work force by 7,000, closed some 3,000 service stations and sold off 17 tankers, but reported that profits still dropped 13%, to $4.2 billion. Texaco earned $1.3 billion, down about...
...Exxon, Texaco and other big oil firms face another threat to the bottom line. Last week the Supreme Court refused to hear a Texaco appeal of a lower-court ruling that the company overcharged customers by some $750 million during the 1970s. That decision came shortly after a federal judge had ordered Exxon to refund about $1.5 billion in overcharges and interest in another Government case. Both companies insist that they will continue to fight the complaints...