Word: winstone
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...Beirut, P.L.O. Chairman Yasser Arafat was quoted by a leftist newspaper as comparing himself with the wartime Winston Churchill. "Why do you say that I will leave Beirut?" Arafat demanded. "What is this stupid propaganda? Did Winston Churchill leave London?" Arafat's bravado concealed the harsh truth of the P.L.O.'s predicament: there is no place it can go and survive in its present form. The P.L.O. leadership and many of its guerrillas may eventually be given sanctuary in one or more Arab countries, but none was willing to accept the P.L.O. as an organized military force...
Randall Meyer, president of the U.S. subsidiary of Exxon, met two weeks ago with Tosco President Morton M. Winston in Los Angeles and told him that Exxon was withdrawing its funding of the project. Tosco exercised its option to sell Exxon its 40% share in Colony. Tosco, with various partners, has been trying to develop shale oil in Colorado for almost 30 years. Along the way, it has become the second largest refiner of gasoline in the U.S., behind Ashland...
Tosco, though, was not big enough to carry the Colony project by itself. Its net worth is only $259 million, and it was hoping that revenues from oil shale would be large enough to make its investment in time, money and faith pay off. Winston, of course, thinks that Exxon acted too hastily. Says he: "Tosco believes that the project would be found satisfactory if full engineering and other assessment work were completed...
...Good, 37, a Colorado land developer and owner of 8.8% of Tosco's outstanding shares, those stockholders last week were making plans to put their own directors on Tosco's board at the Tosco annual meeting, to be held this week; later they hope to remove Winston from office. Says Good: "Tosco is a company with tremendous assets that are being mismanaged...
...throw Cabinets, kings and boudoirs into turmoil. The denouement, in which all the major characters and half the British constabulary descend on Walden Hall for the signing of the Anglo-Russian pact, is one of Follett's finest, with a staccato performance by the deceptively cherubic young Winston Churchill, First Lord of the Admiralty. Winston's connivance is echoed in a scene at 10 Downing Street, in which Prime Minister Herbert Asquith and his advisers pass "the Balkans around like a box of chocolates, help yourself, choose your favorite flavor." Even with anarchist chap pies on the loose...