|
|
Article: Calumet survives OSHA Catch-22
- Article from:
- Chicago Sun-Times
- Article date:
- January 28, 1987
- Author:
CopyrightCopyright (null) Chicago Sun-Times. (Hide copyright information)
|
How about it? Would a small company in the oil industry be
able to get a bank loan? Or to put it more accurately, would a
small company in the oil industry that is also involved in a Catch-22
proposition with the U.S. government find a bank willing to hand out
a few millions?
Not bloody likely, says S. Mark Salvino, chairman and chief
executive officer of Calumet Industries Inc. Calumet happens to be a
small company - "modest-sized" is Salvino's description - and it is
in the oil business even though the company headquarters is in
Chicago.
"Any oil company is bad news in the financial marketplace,"
Salvino says, "and a small oil company is double bad news."
However, the First ...