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United States Foreign Investments Kuwait

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BUSINESS
July 25, 1991 | MICHAEL PARRISH, TIMES STAFF WRITER
In a long-anticipated move by a company that still considers itself a family, Gordon M. Anderson was named president and chief executive Wednesday of Santa Fe International Corp., the Alhambra-based oil-drilling firm controlled by Kuwait's state-owned oil company. E. L. (Ed) Shannon, 65, president and CEO for almost three decades, will retire but remain affiliated as non-executive chairman of the board. Anderson, 59, has been with Santa Fe International since 1951--two years longer than Shannon.
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BUSINESS
January 14, 1993 | From Times Staff and Wire Reports
Santa Fe International to Move to Dallas: Santa Fe International Corp., which has been based in California since it was incorporated in 1946, said it will move its headquarters to Dallas from Alhambra by midsummer. The oil-drilling services company will lay off most of the 160 employees at its Alhambra headquarters, company spokesman John Mika said. A few will be offered the chance to relocate to Dallas.
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BUSINESS
January 14, 1993 | From Times Staff and Wire Reports
Santa Fe International to Move to Dallas: Santa Fe International Corp., which has been based in California since it was incorporated in 1946, said it will move its headquarters to Dallas from Alhambra by midsummer. The oil-drilling services company will lay off most of the 160 employees at its Alhambra headquarters, company spokesman John Mika said. A few will be offered the chance to relocate to Dallas.
BUSINESS
October 25, 1991 | From Times Staff and Wire Reports
Lincoln Resort Sold at a Loss: The Phoenician Resort in Scottsdale, Ariz., the most luxurious and spectacular of Lincoln Savings & Loan's holdings and a symbol of the industry's extravagance, has been sold to Kuwait at a loss. The Kuwaiti Investment Office--which already has a 45% stake in the company that owns the Phoenician and the Crescent Hotel in Phoenix--bought out the remaining interest from the Resolution Trust Corp. for $111.5 million.
NEWS
February 11, 1991 | KIM MURPHY, TIMES STAFF WRITER
Kuwait's government-in-exile, steeling itself to the prospect of returning to a country in ruins, is assembling an emergency team in a staging area near here to move in swiftly behind allied forces and restore basic public services to a liberated Kuwait. Contracts worth up to $800 million have been awarded to companies worldwide to bring in emergency water, power, food and medical supplies to Kuwaitis in the critical days after Iraqi troops are driven out of the country.
BUSINESS
October 25, 1991 | From Times Staff and Wire Reports
Lincoln Resort Sold at a Loss: The Phoenician Resort in Scottsdale, Ariz., the most luxurious and spectacular of Lincoln Savings & Loan's holdings and a symbol of the industry's extravagance, has been sold to Kuwait at a loss. The Kuwaiti Investment Office--which already has a 45% stake in the company that owns the Phoenician and the Crescent Hotel in Phoenix--bought out the remaining interest from the Resolution Trust Corp. for $111.5 million.
BUSINESS
August 3, 1990 | MARIA L. La GANGA, TIMES STAFF WRITER
The highly secretive Kuwaiti government has extensive holdings throughout the world and in the United States--an estimated $80 billion in assets ranging from junk bonds and bank deposits to resort hotels and gas stations. On Thursday, the Bush Administration moved to freeze those holdings in an effort to protect them from the invading Iraqis. But that action raised more problems than it resolved.
NEWS
February 22, 1991 | JESUS SANCHEZ, TIMES STAFF WRITER
In a San Gabriel Valley office complex surrounded by towering brick walls, gates and security guards sits a small but valuable chunk of the kingdom of Kuwait. The 25-acre complex is home to Santa Fe International, an oil services and exploration firm that is one of Kuwait's largest and most visible U.S. assets. Although the Alhambra-based company says it has beefed up security, Santa Fe has not noticeably changed its extensive global operations because of the Persian Gulf crisis.
BUSINESS
August 22, 1990 | GEORGE WHITE, TIMES STAFF WRITER
From offices in Saudi Arabia, Washington and Pasadena, Parsons Corp. has won engineering contracts worth billions of dollars from governments in the Mideast. Now, as the risk of doing business there has become painfully apparent, the company is engaged in a frustrating bid to monitor the safety of its employees trapped in Iraqi-occupied Kuwait and to gain their release. Parsons, like other U.S. firms with Kuwaiti operations, is finding that it can do little.
BUSINESS
September 7, 1990 | From Associated Press
The Iraqi invasion of Kuwait last month has put on hold efforts by the Resolution Trust Corp. to sell the Phoenician Resort in Scottsdale to a branch of the Kuwait government. For months the RTC, the federal agency established to oversee the sale of failed savings and loan associations, had been negotiating with the Kuwait Investment Office in London on the sale of the $260-million Phoenician resort.
BUSINESS
July 25, 1991 | MICHAEL PARRISH, TIMES STAFF WRITER
In a long-anticipated move by a company that still considers itself a family, Gordon M. Anderson was named president and chief executive Wednesday of Santa Fe International Corp., the Alhambra-based oil-drilling firm controlled by Kuwait's state-owned oil company. E. L. (Ed) Shannon, 65, president and CEO for almost three decades, will retire but remain affiliated as non-executive chairman of the board. Anderson, 59, has been with Santa Fe International since 1951--two years longer than Shannon.
BUSINESS
April 6, 1991 | CRISTINA LEE, TIMES STAFF WRITER
Three years ago, Mercy Garside sold some door locks to companies in Kuwait. It was not a big sale, but it was enough for Garside, international sales manager for Kwikset Corp. in Anaheim, to consider herself something of a Middle East insider. The last time Matt Whalen, owner of a cattle slaughterhouse in Ontario, sold anything to Kuwait was in 1983. The owner of California Cattle & Provisions Co. sells special "blessed beef," which is beef prepared under Islamic guidelines.
BUSINESS
February 28, 1991 | VICTOR F. ZONANA, TIMES STAFF WRITER
With damage to private property and infrastructure in Kuwait far worse than first anticipated--the result of Iraq's "scorched earth" policy--the total cost of rebuilding the war-torn nation could climb to half a trillion dollars, the governor of Kuwait's central bank said in an interview published Wednesday. The estimate by Sheik Salem Al Sabah in the French newspaper Le Monde, which was 10 to 12 times higher than previous estimates, helped ignite a rally in the stocks of U.S.
NEWS
February 22, 1991 | JESUS SANCHEZ, TIMES STAFF WRITER
In a San Gabriel Valley office complex surrounded by towering brick walls, gates and security guards sits a small but valuable chunk of the kingdom of Kuwait. The 25-acre complex is home to Santa Fe International, an oil services and exploration firm that is one of Kuwait's largest and most visible U.S. assets. Although the Alhambra-based company says it has beefed up security, Santa Fe has not noticeably changed its extensive global operations because of the Persian Gulf crisis.
NEWS
February 11, 1991 | KIM MURPHY, TIMES STAFF WRITER
Kuwait's government-in-exile, steeling itself to the prospect of returning to a country in ruins, is assembling an emergency team in a staging area near here to move in swiftly behind allied forces and restore basic public services to a liberated Kuwait. Contracts worth up to $800 million have been awarded to companies worldwide to bring in emergency water, power, food and medical supplies to Kuwaitis in the critical days after Iraqi troops are driven out of the country.
BUSINESS
January 23, 1991 | TOM FURLONG, TIMES STAFF WRITER
Contracts have already been signed by Kuwait's government-in-exile to begin the nation's postwar reconstruction--an effort expected to cost $20 billion to $40 billion and provide a bonanza for California's large engineering and construction firms.
BUSINESS
August 11, 1990 | GEORGE WHITE, TIMES STAFF WRITER
General Motors will temporarily close its Ypsilanti, Mich., plant Monday and lay off the facility's 4,200 workers because Iraq's invasion of Kuwait has prompted many customers in the Middle East to cancel orders of GM vehicles. Kuwait and neighboring countries have been one of largest overseas markets for North American-made GM cars and trucks. Luxury cars such as Cadillacs and large sedans at the more expensive end of the mid-priced GM lines have been particularly popular in the Middle East.
BUSINESS
September 5, 1990 | KAREN TUMULTY, TIMES STAFF WRITER
Well before business hours on the morning of Aug. 3, attorney Michael Calabrese was already at work putting the finishing touches on the paperwork for a client who was financing a major new public works project in Iraq. As the 34-year-old lawyer prepared to fax the draft documents to the New York office of his law firm, Morgan, Lewis & Bockius, he noticed something that had just arrived on the machine.
BUSINESS
September 7, 1990 | From Associated Press
The Iraqi invasion of Kuwait last month has put on hold efforts by the Resolution Trust Corp. to sell the Phoenician Resort in Scottsdale to a branch of the Kuwait government. For months the RTC, the federal agency established to oversee the sale of failed savings and loan associations, had been negotiating with the Kuwait Investment Office in London on the sale of the $260-million Phoenician resort.
BUSINESS
September 5, 1990 | KAREN TUMULTY, TIMES STAFF WRITER
Well before business hours on the morning of Aug. 3, attorney Michael Calabrese was already at work putting the finishing touches on the paperwork for a client who was financing a major new public works project in Iraq. As the 34-year-old lawyer prepared to fax the draft documents to the New York office of his law firm, Morgan, Lewis & Bockius, he noticed something that had just arrived on the machine.
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