Casper Star-Tribune from Casper, Wyoming • 35

star Enterprise Thursday, May 22, 1986 Star-Tribune, Casper, Wyo. D7 Occidental sells exploration facilities of MidCon to Davis vi '-7 Panel OKs increasing nuke-power liability WASHINGTON (AP) A compromise bill that would make the nuclear power industry liable for up to $6.5 billion in damages from accidents won approval Wednesday from a House Interior Committee, with many reluctant supporters saying they would try to make changes on the floor. The bill, a renewal of the Price-Anderson nuclear insurance act of 1957, represented a middle ground between the $2 billion liability ceiling sought by the nuclear industry and the $8 billion level favored by committee chairman Morris Udall, D-Ariz. The bill would require utilities to carry $200 million insurance on each of their nuclear plants. If an accident occured and claims exceeded that amount, utilities would be assessed up to $10 million a year for each nuclear plant to cover damages.

SANTA MONICA, Calif. (AP) Occidental Petroleum Corp. said Wednesday it would sell the oil and gas exploration facilities of its recently acquired MidCon Corp. subsidiary to financier Marvin Davis and Apache Petroleum Co. for $500 million.

In addition, Occidental the nation's llth-largest oil company said it would purchase the chemical division of Dallas-based Diamond Shamrock Corp. for $800 million. The deal with Dallas-based Diamond Shamrock came as a surprise. Last year, Occidental tentatively had agreed to a $3.25 billion stock-swap takeover of the Texas company; but Diamond Shamrock directors backed out. Speaking at the company's annual meeting, Chairman and Chief Executive Armand Hammer also said the outlook "isn't good" for recovering Occidental's $120 million investment in Libya.

Hammer said it was unlikely that the company would be able to find a buyer for those holdings and that they may be written off as losses later this year. Hammer said an agreement in principle was reached Wednesday with Davis Oil Co. and Apache Petroleum, both of which are based in Denver, to sell MidCon's oil and gas exploration properties. $7.09 billion; 6. Super Valu Stores food wholesaling and retailing, Eden Prairie, $6.59 billion; 7.

McKesson wholesale distribution of drugs, health-care items and beverages, San Francisco, $5 billion; 8. CBS entertainment. New York, $4,785 billion; 9. Halliburton oil-field services and engineering, Dallas, $4.78 billion; and 10. Fluor engineerging and construction, Irvine, $4.

17 billion. Sinner wins state photography award RIVERTON Alan Sinner of Riverton was named 1986 Photographer of the Year at the recent Wyoming Professional Photographers convention in Riverton. Sinner won the award based on total contest points accumulated by photos entered in the statewide competition. Sinner won first and second place in female portraits and first place in group portraits, according to a press release. Ranchers can apply for hopper program CASPER Natrona County ranchers who want to participate in the 1986 cost-share grasshopper- control program must apply before June 2, according to the Natrona County Extension Office.

For more information, call the Natrona County Weed and Pest Office at 472-5559 or the county Extension Office at 235-9400. Bryce president of insurance group CHEYENNE George Bryce of Casper was voted president of the Wyoming Association of Life Underwriters during the organization's recent annual convention in Cheyenne. Bryce replaces J. Michael Stevens of Rock Springs. WALU members also voted for Roger Herron of Cheyenne as Les Bennington of Glen-rock, vice president; and Dale Finch of Casper, secretary-treasurer.

Nicholas, Sullivan make law fraternity LARAMIE Gubernatorial candidates Dave Nicholas and Mike Sullivan were recently initiated into the Delta Theta Phi Law Fraternity International at the University of Wyoming. Sullivan, a Democrat, graduated from UW's College of Law in 1964, while Republican Nicholas graduated in 1966. llVrM-H I Budget Office Furniture 1515 E. Burlington, Casper 266-6497, Toll Free 1-800-442-8454 SPECIAL: All Bookcases $1000Off Low as 59aa We handle quality furniture at discount prices ship to all locations statewide, call for a free catalog today open Saturdays. PENNY STOCKS An Opportunity of the 60'i FOR YOUR FREE REPORT CALL David Welnstein 1-800-826-2564 Invetimenl Banker A 1R nKci" KVAllv JAMES OLSON New chairman names chief; boosts rate cut NEW YORK (AP) American Telephone Telegraph Co.

chose 'career man James Olson to be its next chairman Wednesday and revealed it was boosting its June 1 rate cut to roughly $2 billion, the biggest in its history. Olson, 60, president and chief operating officer, will succeed Charles Brown as chief executive June 1 and become chairman Sept. 1, after Brown takes mandatory retirement at age 65. Olson paid his dues in what was once the world's largest company, rising from his first summer job in 1943, when he took buckets to the bottom of manholes to clean out silt. The chairman-designate caught public-relations staff off guard by announcing, a day early, plans to increase a planned rate cut by roughly $450 million.

Last month had proposed cuts totaling slightly more than $1.5 billion. Olson met reporters and vowed to "continue the momentum" set for the company by Brown, who led through its worst crisis, the 1984 breakup of the Bell System. Lorimar-Telepictures CULVER CITY, Calif. (AP) Lorimar-Telepictures which was created by a merger just three months ago, said Wednesday it has agreed to buy seven big-city television stations for $1.85 billion in cash and stock. The deal is expected to be completed in early 1987.

A new company will be created by Lorimar-Telepictures to hold the properties being acquired from SCI Holdings the parent of Storer Communications and Wometco Broadcasting Inc. Seventy-five percent of the stock in the new company will be distributed to Lorimar-Telepictures shareholders as a dividend. The other 25 percent will be held by institutional investors who will be putting up about $500 million in cash to finance the deal, said Michael (Jann, a memoer or Lonmar-1 depictures oinceoi me president. House OKs hiking lid on VA loan program WASHINGTON (AP) The House voted 398-0 Wednesday to raise the Veterans Administration home loan-guarantee ceiling for the second time this year to help the program keep up with the heavy demand for mortgages. The ceiling would go from $17.4 billion to $38.3 billion.

In February, when falling interest rates spawned a high demand for new and refinanced VA mortgages, Congress voted to raise the ceiling by $6 billion. The Senate voted May 6 to raise the ceiling to $30.9 billion, but it was expected to accept the higher amount passed by the House before it adjourned Wednesday for its week-long Memorial Day Phibro-Salomon tops Fortune list NEW YORK (AP) Phibro-Salomon Inc. was the nation's largest diversified service company again last year, according to Fortune magazine's ranking of the nation's largest non-industrial companies made available Wednesday. In second place was InterNorth the Omaha, energy company. Its sales of $10.7 billion moved it up from third place in 1984.

Third was RCA Corp. with sales of $9.99 billion. It dropped from second place. Others include: 4. Union Pacific transportation, energy and resources, New York, $7.8 billion; 5.

Fleming Cos. wholesale food distribution, Oklahoma City, '4rk ii illiliilitiiWlli: f'ij i 'mtimMuuiimm. 0 cm.