Word: petroleum
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...racquetball, playing poker and flying in his Learjet, there are few pastimes that Texas Oilman T. Boone Pickens Jr., 55, enjoys more than swooping down on vulnerable companies and giving their managers the willies. During the past 16 months, Pickens has earned $105.7 million for his company, Mesa Petroleum, by buying up large amounts of undervalued stocks and selling them at a handsome profit, sometimes back to the company whose stock he bought. Early this year, for example, he bought a large stake in Superior Oil, then in September sold it back to Superior for a $31.8 million profit...
Looking for an offbeat investment prospect? Well, consider a St. Paul company called American Hoist & Derrick. A typically depressed heavy-equipment manufacturer, Amhoist lost $21.8 million last year and is expected to wind up in the red again this year. Two of its primary markets, the petroleum and timber industries, remain sluggish. Its stock has been sagging in the bull market and now sells for $15, vs. a high of $26, reached...
...today's problems were reversed. The abject dollar worsened U.S. inflation by raising the price of imports. European leaders angrily charged that the weak American currency made U.S. exports too cheap and was thus hurting the sale of European goods. The failing dollar also encouraged the Organization of Petroleum Exporting Countries to keep jacking up oil prices since member countries were being paid for oil in dollars that were losing value almost daily...
...asked if Jardine Mathewson would sponsor his education, and the company agreed, on the condition that he do some translating and research work for them. Tang struck up similar arrangements with British Petroleum and Barclay's International Bank, and in 1979 he received an economics degree...
More recently, the Parthenon has suffered from an eye-stinging yellow smog that envelops Athens for most of the year. Called the nefos (literally, cloud), it is composed mainly of sulfur dioxide, a waste product given off when petroleum is burned in autos, factories and residential furnaces. As rain and dew mix with the SO2, they form a weak sulfuric acid that turns marble into crumbling plaster...