May 4, 2011 |
Gerald Freeman was prospecting for gold in the Mojave Desert when he stumbled on Nipton. In 1984, it had become a virtual ghost town. Its sole resident lived in the trading post selling sodas to the occasional wayward traveler who might briefly stop to watch freight trains rumble past on the nearby Union Pacific railroad. But where most saw desolation, Freeman saw "a little place to make a home" and maybe some money too. The Caltech-trained geologist shelled out $200,000 to buy the tiny, tattered outpost.
January 25, 1988 |
The state's mineral industry is growing, with the extraction of gold and construction sand and gravel leading the way. A strong recovery by California's construction industry has pushed up sand and gravel production by 67.2% since the recession year of 1982 to an estimated 135.7 million short tons worth $536.8 million, according to the U.S. Bureau of Mines. The growth in gold mining has been even more spectacular. In 1980, just 4,078 ounces were produced.
July 1, 1985
Stephen W. Chabre was promoted to chief operating officer of Dailey & Associates, a Los Angeles advertising agency. Republic Pictures Corp., Los Angeles, named Alex Tovar controller. Doyle Dane Bernbach/Los Angeles named Bruce D. Miller senior vice president. The advertising agency also named Don Ward and Jerry Gentile vice presidents. Unocal Corp., Los Angeles, named R. Gene Dewey president of its wholly owned subsidiary, Molycorp Inc.
August 10, 1991 |
Unocal Corp., hard-hit by forces plaguing the oil industry, has begun a belt-tightening review of its 920-employee headquarters staff that could bring layoffs by the end of the year. The news was not unexpected in the wake of a 97% drop in second-quarter earnings for the Los Angeles-based energy company, as well as anticipated lower staffing needs as it continues to reduce its sprawling operations. "Do we have duplication, do we have two different departments that really do the same thing?"
June 4, 1998 |
Atlantic Richfield Co. and Unocal Corp. announced separately Wednesday that they will reduce or eliminate some non-oil operations to better focus on oil and gas exploration. Los Angeles-based Arco said it will reduce its ownership stake in Arco Chemical to 50% from 82.2% by selling stock to the public and to its former chemical subsidiary. The oil giant said it expects to receive $2.15 billion for the shares.