Word: funding
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Dates: during 1970-1979
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...Anderson, 49, who in 1977 left as Amoco's $44,500 manager of field training in the Atlanta office, says that he was "paymaster" for a group of executives who regularly dipped into an often replenished $400,000 "training fund" that was nominally under his control. The huge pot was never audited by Amoco or Standard of Indiana accountants, or revealed to the company's out side auditors. Anderson claims to have dispensed about $1 million from 1972 to 1977 for as many as 50 of the company's southeastern regional executives...
...fund may soon be swollen like a Christmas stocking with more cash. In the past 22 months, Paul Bloom, 40, the DOE's special counsel, has brought 150 enforcement actions totaling $7.2 billion in claims against 35 large oil companies for violating the complex, controversial federal price regulations. So far the DOE has won consent decree settlements amounting to $660 million from Kerr-McGee, Cities Service, Phillips, Gulf, Mobil and other companies. They agreed to settle by posting lower future price increases than the maximum allowed under Government regulations. Getty also chose this method for the remaining $50 million...
...next Henry Kissinger will have his pet mechanized division to send off to the next Angola, thanks to the recent presidential decision to fund the force. The White House, hawkish congressmen and the Pentagon itself are using the fear excited by the embassy takeover to effect a turnabout in foreign policy too quick for anyone to protest. The quick-strike force makes up only one part of the pro-military campaign; a reinvigorated opposition to ratifying the SALT II arms limitation treaty will undoubtedly follow, and new demands for giving the Central Intelligence Agency more freedom to act covertly abroad...
...misleading labeling: Myerson is by no means "complete." The 100 or so pages devoted to owning a house, for example, dispatch property insurance in four paragraphs. Retirement planning in Myerson's view seems to consist only of setting up a tax-deferred IRA or Keogh Plan savings fund. The former Miss America and ex-commissioner of consumer affairs for New York City is hardheaded about bargaining over terms, especially when buying a home. Counsels Myerson: "If you find the house fails to meet certain standards, you should not immediately cross it off your list. But, armed with the information...
Sensibly, provision is being made for when the energy reserves run out. Fully 30% of all royalties are deposited in a "Heritage" trust fund, which now totals $5 billion and is expected to reach as much as $34 billion by the end of the 1980s. The fund makes major loans to other provinces (at competitive rates), but its main purpose is to bankroll Alberta's economic future. The provincial government has acquired its own Pacific Western Airlines; set up a local company to invest in all forms of energy, including oil from the thick, gummy tar sands; and offers...