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...relief. For years she had been explaining the meaning of economics in terms that anyone could understand. Since no one else was doing it, Sylvia had the field to herself. As James A. Wechsler, editor of her base paper, the New York Post, has said: "Sylvia walked into a vacuum...

Author: /time Magazine | Title: The Press: Sylvia & You | 11/28/1960 | See Source »

...biggest corporate split-up in the history of trustbusting, topping even the historic dismemberment of the old $660 million Standard Oil Co. in 1911. Standard-Vacuum Oil Co., an $855 million oil-marketing combine with 37,000 employees in 50 countries and sales last year of $1 billion, will be divided between its joint owners, Standard Oil Co. (New Jersey) and Socony Mobil Oil Corp. The decision was embodied in a partial settlement last week of a long, controversial suit filed by the Justice Department against five of the biggest U.S. oil companies: Jersey Standard, Socony Mobil, Standard...

Author: /time Magazine | Title: OIL: The Big Split | 11/28/1960 | See Source »

...Standard and Gulf, while not admitting any guilt, signed consent decrees promising not to enter into any cartel deals for the next 25 years. Although the suit continues against Socony Mobil and the other two companies, Socony went along with Jersey Standard's terms for breaking up Standard-Vacuum...

Author: /time Magazine | Title: OIL: The Big Split | 11/28/1960 | See Source »

...Mutual Vacuum. Standard-Vacuum was set up chiefly as a marketing company in 1933 when Socony was overloaded with facilities for selling oil but short on reserves, and Jersey Standard had plenty of oil but not enough outlets. Over the years Stanvac developed oil production of its own, now has well capacity of 84,000 bbl. a day and refinery capacity of 293,000 bbl. a day. Last week's decree does not affect production and refining facilities, which may still be jointly owned, but only Stanvac's marketing operations. These will be divided between the parent companies...

Author: /time Magazine | Title: OIL: The Big Split | 11/28/1960 | See Source »

...Vacuum Keening. At this point the non-hero always has two anodynes for his despair: 1) alcohol, 2) another woman. Author Wilson generously allows Nathan to sample both. Amy has an adulterous fling of her own after which the following dialogue ensues...

Author: /time Magazine | Title: Books: The Disenchanted Forest | 11/21/1960 | See Source »

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