Marriott Alumni Magazine

Fall Winter 1977 Exchange

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EXCHANGE: TAKING INVENTORY (OIL) WELL EARNED SUCCESS The Washington Post has described him as "a reluctant tycoon" and a "free-thinker with a pearl-gray Stetson and stacked-heel. narrow-toe cowboy boots" -he is also Brigham Young University's Executive of the Year. Robert o. Anderson, chairman of the board and chief executive officer of Atlantic Richfield Co., will receive the award presented annually by the College of Business / Graduate School of Management at the November meeting of its National Advisory Council. “Anderson is more than just another sunbaked petroleum chief whose power comes out of the ground," said the Post on January 23, 1977. “He is an atypical oil executive, frequently taking political positions that are contrary to the gospel according to big oil. He opposed the industry's depletion allowance years ago and the Highway Trust Fund before it was fashionable to do so. He says we need more public mass transportation and smaller cars. "In private, Anderson has supported environmental causes that have created headaches for his own management. But he also has approved his company's construction of the Alaska pipeline and the deal, nullified by the Federal Power Commission, which would have forced Californians to pay now- through the utilities companies-for Area's future delivery of natural gas to the state." A native of Chicago, Anderson is also one of the country's largest individual landowners and breeders of cattle, bulls, and Arabian horses. In addition, he is an active member of the Business Committee for Arts, the Smithsonian Institution, the Conference Board, and the Aspen Institute for Humanistic Studies. The Post stated, “One week he is the urban sophisticate motoring around Manhattan between high- powered appointments in a Cadillac limousine. The next he is back-packing alone on his 60,000-acre Latigo Ranch, out in the desert with a knife and a couple of candy bars to test his endurance- and to think. "His involvement in business, civic affairs, government, and the arts has also "given him a reputation as something of a jet-age Re- naissance man.” Taking a Stand on the (Zinc) Market Merrill J. Bateman, dean of the College of Business/ Graduate School of Management, was called to testify on the viability of a zinc futures market before the Commodities Futures Trading Commission in Washington, D.C. The testimony was prepared at the request of Commodity Exchange in New York. In his testimony, Bateman cited the criteria that should be satisfied for a zinc futures market to be successful, adding that the probability of success for a futures market is relatively high. Bateman reported that most of the advantages of a zinc futures market center around the "increased competitiveness that occurs when an open, formalized market with a set of rules is established in contrast to a decentralized, cash market. Another advantage is that actively traded futures markets generate considerable amounts of information above and beyond that generated in a physicals environment. This leads to better-informed participants and a market which reflects supply and demand more accurately." EXCHANGE FALL/WINTER 1977 11

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