November 18, 1991 |
Bootlegging: An administrator of Los Angeles' Armand Hammer Foundation is scheduled to stand trial in Minneapolis next month on charges alleging he smuggled $60,000 into the country--much of it in his cowboy boots. Scott R. Deitrick was arrested Oct. 11 and released five days later on a $250,000 cash bond posted by Michael Armand Hammer, grandson of the late Armand Hammer. Authorities allege Deitrick flew into the Minneapolis-St.
May 26, 1991 |
"Waste not, want not," your mother used to say. But in some corners of corporate America, waste seems to have found a home. Company officers spend millions redecorating already lavish offices; executives are paid huge sums to relocate, only to quit their jobs a few months later; company executives are given massive bonuses to sign employment contracts so favorable that they would be crazy to pass them up.
March 30, 1990 |
In a move that may complicate the future of the controversial Armand Hammer Museum of Art and Cultural Center, the heir to the estate of Hammer's late wife is challenging the ownership of the industrialist's $250-million art collection. In a new Delaware court filing, Frances Hammer's niece Joan Weiss of Los Angeles claims that the estate may be "the owner of a substantial interest in the works of art" being donated to the museum now under construction in Westwood.
March 13, 1990 |
Occidental Petroleum Corp. denied Monday that it had used corporate funds--beyond the $5.8 million it previously acknowledged--to finance art purchases for the private collection of its chairman, Armand Hammer. But the company acknowledged that it gave $12 million to the Armand Hammer Foundation, established by Hammer to support his charitable interests, over a seven-year period in which Hammer was building his art collection.
September 20, 1989 |
California's largest public employee pension plan has entered a bitter legal dispute between Occidental Petroleum Corp. and a small group of shareholders who contend that company funds have been improperly used to assemble Armand Hammer's art collection and build his new museum. The California Public Employees Retirement System, which holds 2.
September 3, 1989
I write this letter as counsel to the Board of Directors of Occidental Petroleum Corp. in response to "Occidental, Not Hammer's Foundation, Purchased Art" (Part I, Aug. 18). You imply that Dr. (Armand) Hammer somehow unjustly benefits from his own philanthropy. This is wrong. Occidental and Dr. Hammer have a long-established history of promoting artistic and cultural endeavors. For years, Dr. Hammer and the Armand Hammer Foundation have loaned priceless masterpieces the world over, generating enormous good will to Occidental's benefit.