
--From Phillips Petroleum Company cover letter to the Video Case
Study Series,1983
--From Public Relations Quarterly, Fall 1996 v41 n3 p21(4).
But in early December 1984, things abruptly changed: Corporate raider T. Boone Pickens rode in from West Texas and made
a bid to take over a company that only a year earlier had celebrated its
66th birthday in part by publishing a lavish coffee-table book detailing the
proud history of Phillips 66, its employees, its place in business and its
responsibility to its headquarters community of Bartlesville, Oklahoma. By
late December, with the help of a concerted internal and external public
relations effort and invaluable assistance from outside constituencies,
Pickens retreated...with almost $100 million for a few weeks' work. It appeared
to be a nice Christmas present for the besieged company and its employees.
But before Phillips management had time to assess damages and catch its breath,
takeover specialist Carl Icahn stepped in and started the process anew.
|<-back|
|cont->|
|