OIL: Selling a Stake in a Big Sister

Selling a Stake in a Big Sister

For many left-wing members of Britain's ruling Labor Party, it would have been preferable for the government to auction off some of the crown jewels. Transport Union Chieftain Jack Jones condemned the action as the squandering of a national asset. Grumped one Cabinet member in private: "It's like selling the paintings off the wall." What prompted all this indignation was the government's proposal last month to sell a substantial share of its stake in British Petroleum Co., the...

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