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Andrew HeiskellAndrew Heiskell
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Session:         Page of 824

Q:

Was there hesitation about--I know you first wanted to have him merge with Eastex and he demanded to be part of Time. Is that correct?

Heiskell:

Yes. That is correct. And he--well, we had to work out titles--Mike Buckley was to stay for a while--yes, and Arthur Temple wanted Time stock, obviously, and that made him part of Time. And also he, he enjoyed the thought of being part of a big company instead of being Temple in Lufkin, or wherever it is down there.

Q:

Did you deal with his personally about these issues?

Heiskell:

Yes, yes. We had a lot of discussions about exactly what role he would play--I think we discussed this, didn't we?

Q:

No, we did. But I meant about the price.

Heiskell:

Oh, about the price. Yes, well--I did, and I'm trying to remember who else was involved in that--I guess Jim Shepley was very much involved in it, he was very much for it. I don't--I remember [laughter], Tom Watson was very much for it. [pause]--

Q:

Tom Watson, you were saying. On the Board.

Heiskell:

Tom Watson--I think it was Arthur Temple who made the statement that there are three trees behind every share of stock--and





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