Word: mobile
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Dates: during 1950-1959
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...Albert L. Nickerson, 47, Socony Mobil Oil Co. president since 1955, will become chief executive officer next month when Board Chairman B. (for Benjamin) Brewster Jennings, 59, retires after 37 years with the company. Nickerson, a New Englander who looks like Cinemactor Randolph Scott, came up fast. Graduating from Harvard in 1933, he joined Socony as a service-station attendant, moved up to become a director within 13 years. Despite the current domestic oil glut, he has spoken out strongly for continued imports on the ground that high-cost U.S. producers will be unable to match soaring future demand...
...below-capacity operation in many segments of the steel industry, Republic Steel raised its nine-month earnings 30%, for a record $73 million, and Inland Steel lifted its nine-month net to $43 million, 18% over 1955, its best previous year. Among the oil companies, hurt by overproduction, Socony Mobil and Shell Oil both reported profit dips. But Phillips Petroleum and Texas Co. reported 1957 profits ahead...
...multimillion-dollar marriage brokers: Major General John B. Medaris. boss of the Army's missile-making Redstone Arsenal; Major General Bernard A. Schriever, boss of the Air Force's ballistics-missile program; and Wilson's special assistant for guided missiles, William M. Holaday, onetime Socony Mobil Oil Co. Inc. research director. Wedding date: "Earliest practicable," probably October...
After five years of waiting, the U.S. oil industry finally got a lower court verdict on suits brought against three of its big gest companies by the Government. The defendants: Jersey Standard, Socony-Mobil, Caltex (owned jointly by the Texas Co. and Standard of California) and six subsidiaries. The charge: price-gouging to the tune of $111.5 million on Middle East oil supplied to Europe under Marshall Plan financing. Between 1949 and 1952, the Government charged, the companies sold oil to the Economic Cooperation Administration...
...read the luncheon menu at one of Manhattan's newest and biggest restaurants last week. Price of the meal: 97?. Owner of the restaurant: Socony Mobil Oil Co., which installed a cafeteria and seven dining rooms in its Manhattan headquarters to give 2,400 employees bargain food at a sizable loss to itself every month. Operated by the Brass Rail Restaurant (on a cost-plus fee basis), the dining rooms are graded according to rank, with white-collar workers in one room, various executive echelons in the others. All rooms are air-conditioned, have piped-in music...