Chevron Selling Atlanta Area Stores

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Chevron Selling Atlanta Area Stores

07/09/2003
ATLANTA -- ChevronTexaco Corp. said it would close an Atlanta facility and cut 177 employees starting in September, according to the Georgia Department of Labor.

The cuts come as the company has signed an agreement to sell all of its company-owned stations in metro Atlanta. The job cuts include cashiers and managers at 20 metro gas stations and convenience stores.

In other company news, a Florida jury yesterday ordered San Francisco-based ChevronTexaco to pay $33.7 million to investors who say they were defrauded in an agreement to set up quick-service oil change centers at gas stations and convenience stores, accordint to the Contra Costa (Calif.) Times.

Jurors in a Miami state court concluded that Texaco refining and marketing executives fraudulently convinced officials of Apex Development Inc. to invest in Xpress Lube Centers in Florida, owned at the time by Texaco. Apex's lawsuit claimed Texaco reneged on promises to guarantee lease payments for the automobile oil change outlets.