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December 5, 2010 | By Borzou Daragahi, Los Angeles Times
If Mohsen doesn't come up with $100,000 by the end of the week, he's a dead man. Or so the seemingly well-to-do Tehran businessman says as he fidgets in his chair, inhales another Marlboro Light and adjusts his fitted sports jacket, his eyes darting nervously back and forth in the cafe as if he were being hounded by a ghost. His company, he says, is a million dollars in the hole. "Do you know where I can get a $100,000 loan?" he demands of a friend, only half in jest.
Lucy Smith Doheny Battson, reigning matriarch of Southern California's pioneering, petroleum-wealthy Doheny family, has died at the age of 100. Mrs. Battson died Friday at her home in Los Angeles. The former Lucy Smith of Pasadena was married in 1914 to Edward Laurence Doheny Jr., only child of Edward L. Doheny, who struck oil in Southern California and in Mexico. The couple had five children, Lucy, now of Washington, Edward III of Honolulu and William, Patrick and Timothy of Beverly Hills.
July 24, 1985
Victor J. Hammer, an art dealer who with his brothers Armand and Harry founded the internationally recognized Hammer Galleries in New York City in the 1920s, has died in Lake Worth, Fla., near his Palm Beach home. He was 83 and died Sunday of heart disease. Dr. Armand Hammer, now chairman of Occidental Petroleum Corp., established the gallery with his brothers after his business affiliations with the then-infant Soviet government enabled him to purchase art treasures at a favorable rate.
November 18, 1996 | From Bloomberg Business News
Deutsche Telekom said Sunday that it sold its shares at 28.50 marks each, raising as much as $13.2 billion for the world's third-largest telecommunications company in one of the biggest initial public offerings ever. Telekom sold 623 million shares, or about a 24% stake, toward the upper end of the 25- to 30-mark expected price range to the public and employees. The share price values Telekom at about $49.7 billion and ushers in a new era for the company and for the German equities market.
July 15, 2006 | Elizabeth Douglass, Times Staff Writer
Chevron Corp. said Friday that it would buy most of the gasoline stations owned by USA Petroleum Corp., the California independent retailer believed to have invented self-service fueling in the 1940s. Privately owned USA Petroleum, based in Thousand Oaks, plans to sell 122 of its 160 stations -- amounting to nearly all of its California network, USA Petroleum President Mark Conant said. All but a handful of the affected stations sell fuel under the USA name.
December 16, 1987 | Associated Press
Phillips Petroleum Co. announced today that it is laying off 7% to 10% of its worldwide work force as part of a cost-cutting move designed to trim spending by as much as $200 million a year. Phillips said it will consolidate two of its largest units--exploration and production, and natural gas and gas liquids. Further organizational changes will be made throughout the company, it said. Chairman C. J.
July 12, 1985 | From Associated Press
Petroleum futures prices were lower Thursday in active trading on the New York Mercantile Exchange. A sharp reduction in crude oil prices by Mexico, the United States' biggest foreign oil supplier, put pressure on the market, said Andrew Lebow, a petroleum analyst with Shearson Lehman Bros. in New York. Mexico announced that step late Wednesday in reaction to OPEC's failure to shore up sagging oil prices worldwide. "The Mexico cut definitely influenced" Thursday's activity, Lebow said.
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