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Jerry W Neely

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BUSINESS
December 11, 1987 | LESLIE BERKMAN, Times Staff Writer
In a move applauded by Wall Street, Smith International said Thursday that Jerry W. Neely has resigned as chairman and chief executive of the Newport Beach oil tool manufacturer, which recently emerged from 20 months of bankruptcy proceedings. Neely, 51, had been chief executive since 1976, and chairman since 1978.
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BUSINESS
December 11, 1987 | LESLIE BERKMAN, Times Staff Writer
In a move applauded by Wall Street, Smith International said Thursday that Jerry W. Neely has resigned as chairman and chief executive of the Newport Beach oil tool manufacturer, which recently emerged from 20 months of bankruptcy proceedings. Neely, 51, had been chief executive since 1976, and chairman since 1978.
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BUSINESS
March 30, 1985 | BRUCE HOROVITZ, Times Staff Writer
In tandem cost-cutting actions Friday, Smith International Inc. laid off 75 managers and salaried workers from its Irvine tool division and completed the moving of its corporate headquarters from luxurious offices to smaller quarters down the street in Newport Beach. Smith has announced new layoffs in each month so far this year, bringing to about 800 the number of workers handed pink slips since Jan. 1. That represents nearly one-tenth of the company's worldwide work force of 8,000.
BUSINESS
December 11, 1987 | LESLIE BERKMAN, Times Staff Writer
In a move applauded by Wall Street, Smith International said Thursday that Jerry W. Neely has resigned as chairman and chief executive of the Newport Beach oil tool manufacturer, which recently emerged from 20 months of bankruptcy proceedings. Neely, 51, blamed by many oil industry observers for much of the company's financial difficulties, stepped down Wednesday as chief executive, a position he had held since 1976.
BUSINESS
March 8, 1986 | CARLA LAZZARESCHI and ROBERT HANLEY, Times Staff Writers
Smith International, one of the world's largest oil services companies, on Friday filed for bankruptcy protection just three weeks after being ordered to pay its largest competitor more than $200 million to settle a patent infringement lawsuit. The filing under Chapter 11 of the U.S.
BUSINESS
February 19, 1986 | ROBERT HANLEY, Times Staff Writer
Smith International, which last week was ordered to pay at least $207 million for infringing a drilling bit patent, said Tuesday that the award may cause it to default on agreements covering about $260 million of its borrowings. The troubled Newport Beach-based maker of oil field equipment said that amount represents the bulk of its debt. As of June 30, Smith had $173.4 million in long-term borrowings and $118.5 million in short-term debt.
BUSINESS
May 10, 1987 | JANE APPLEGATE, Times Staff Writer
At the recent Offshore Technology Conference in Houston, where the world's oil service companies show off their latest wares, Smith International Inc. hosted one of the biggest and brightest exhibits. "I was shocked," said Jeffrey Freedman, a longtime Smith watcher who follows the industry for the investment firm of Smith Barney, Harris Upham & Co. "I expected to see a tiny thing from Smith, and there they were, front and center, with the biggest display."
BUSINESS
October 26, 1988 | ERIC SCHINE, Times Staff Writer
Smith International, one of the nation's leading oil well equipment makers and an Orange County presence for 52 years, said Tuesday that it is closing its Irvine drill bit plant and moving its headquarters to Houston. A total of 456 plant workers and 30 corporate staffers will be affected by the California pullout, which will be completed by March 31, 1989, Smith President Doug Rock said.
BUSINESS
May 10, 1987 | JANE APPLEGATE, Times Staff Writer
At the recent Offshore Technology Conference in Houston, where the world's oil service companies show off their latest wares, Smith International hosted one of the biggest and brightest exhibits. "I was shocked," said Jeffrey Freedman, a longtime Smith watcher who follows the industry for the investment firm of Smith Barney, Harris Upham & Co. "I expected to see a tiny thing from Smith and there they were, front and center, with the biggest display."
NEWS
March 8, 1986 | CARLA LAZZARESCHI and ROBERT HANLEY, Times Staff Writers
Smith International Inc., one of the world's largest oil services companies, Friday filed for bankruptcy protection, just three weeks after being ordered to pay its largest competitor more than $200 million to settle a patent infringement lawsuit. The filing under Chapter 11 of the U.S.
NEWS
June 7, 1987 | Compilation and analysis for the 1987 roster were provided by Maureen Perry and Cynthia Sosin of the Los Angeles Times marketing research department.
KEY TO ROSTER--The corporate name of each company is followed by its founding or incorporation date in parentheses. Sales figures have been confined as closely as possible to operating revenues. They include equity in earnings of joint venture corporations as reported, but exclude nonoperating revenue such as dividends and gains from the sale of real estate. Income figures are given before extraordinary items.
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