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October 28, 1987 | Associated Press
USX Corp., supported by strong earnings in its steel and Marathon Oil subsidiaries, Tuesday reported a third-quarter profit of $140 million, up sharply from a third-quarter loss last year. USX said the third-quarter profit of 46 cents per share came on sales of $3.9 billion, contrasted with a third-quarter loss of $183 million on sales of $3.3 billion last year. For the first nine months, USX reported a profit of $233 million on sales of $10.6 billion.
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BUSINESS
February 8, 2001 | Reuters
USX Corp. unit Marathon Oil Co. agreed to pay $7.7 million to the U.S. government to settle claims that it failed to pay royalties on oil drilled from leases on federal and Native American lands, the Justice Department said. The settlement, which covers alleged underpayments between 1988 and 1998, brings to an end charges brought by two whistle-blowers that Marathon, along with other oil companies, tried to shortchange the government on royalty fees. Former Atlantic Richfield Co.
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BUSINESS
July 29, 1992
USX Corp. said its profit soared in the second quarter, mostly due to a favorable accounting adjustment in the value of inventory and $296 million received in the settlement of a tax refund claim. The company's profit rose to $232 million in the second quarter from $25 million in the same period of 1991. Sales fell nearly 4% to $4.48 billion from $4.6 billion.
BUSINESS
December 1, 2000 | Bloomberg News
USX Corp., owner of the largest U.S. steel producer and the fifth-largest U.S. oil company, is studying options for improving performance, including selling part or all of the company, Chief Executive Thomas Usher said. USX has hired legal and financial advisors to review the company's structure, Usher said. USX has two stocks, one tracking the performance of oil company USX-Marathon Group and the other linked to the returns of USX-U.S. Steel Group.
BUSINESS
November 30, 1989 | From Associated Press
Investor Carl C. Icahn disclosed Wednesday that he is requesting federal approval to acquire at least 25% of USX Corp. In a filing with the Securities and Exchange Commission, Icahn revealed that he was seeking permission from the Federal Trade Commission to increase his stake in the Pittsburgh-based oil, gas and steel concern. Federal Trade Commission antitrust clearance for such an acquisition is required under the Hart-Scott-Rodino Antitrust Improvements Act.
BUSINESS
May 2, 1989
Decision on Steel Quotas Urged: It's time for President Bush to declare the terms of the steel import quotas he promised to renew, USX Corp. Chairman David M. Roderick said at the company's annual meeting in Pittsburgh. Five-year quotas, known as Voluntary Restraint Agreements, are scheduled to expire Sept. 30. The three-month delay between orders and shipments could make the domestic market uncertain and vulnerable to foreign predators, Roderick said.
BUSINESS
November 30, 1991 | From Times Staff and Wire Reports
USX Ordered to Pay $409 Million: A federal magistrate has recommended that USX Corp. pay $409 million to former shareholders of Marathon Oil Co. to settle a 9-year-old dispute, a spokesman said. The case stemmed from USX's purchase of Marathon and was the lone remaining issue in a lawsuit filed by Marathon shareholders after the acquisition. The suit alleged that U.S.
BUSINESS
August 7, 1998
* WorldCom Inc. sold $6.1 billion in debt to finance its planned $37-billion acquisition of MCI Communications Corp., matching a record for the biggest corporate bond offering ever. The offering met with strong demand from international investors who are eager to own bonds issued by the fourth-largest U.S. long-distance telephone company. * * USX Corp., the biggest U.S. steelmaker, has agreed to pay $30 million to clean up the Grand Calumet River in Indiana as part of a $54.
BUSINESS
August 7, 1998 | Reuters
USX Corp., the biggest U.S. steelmaker, has agreed to pay $30 million to clean up the Grand Calumet River in Indiana as part of a $54.9-million environmental settlement, the Justice Department said. Federal and state authorities had accused USX of illegally discharging waste water contaminated with PCBs, heavy metals, oil and grease, benzene and other polluting substances that kill fish and harm migratory birds, the department said.
BUSINESS
December 6, 1993 | From Times Staff and Wire Reports
Firms Taken Off Worst-Polluters List: General Motors Corp., Georgia-Pacific Corp., USX Corp. and Cargill, ranked last year among the nation's worst corporate polluters, have been rewarded for mending their environmental ways. The Council on Economic Priorities, a New-York based public interest group, said it removed the four companies from the 1993 list of top environmental offenders after signs of progress, notably a greater willingness to disclose environmental information.
BUSINESS
August 6, 1992 | From Times Staff and Wire Reports
U.S. Steel Plans Mini-Mill: USX Corp.'s U.S. Steel Group plans to build a steel mini-mill that would be the firm's first new mill in 25 years, according to a published report. A U.S. Steel spokesman confirmed that the company is investigating the construction of a mini-mill but declined to elaborate. Sites in Kentucky and Tennessee are being considered, although other locations in the United States are possible, the Wall Street Journal reported. The mini-mill could be built as soon as next year.
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