Texaco Says Boycott Not Having Big Impact

Texaco Inc. Chairman Peter Bijur said a boycott organized by black leaders over allegations of discrimination at the company has hurt some local dealers but hasn’t had a noticeable impact on overall sales. White Plains, N.Y.-based Texaco settled a race discrimination suit last month, agreeing to spend an estimated $176 million in back pay and future raises for black employees and to set up a task force on diversity training and sensitivity. He also said he might not release his “30-day plan” for antidiscrimination measures by Dec. 12, exactly 30 days after the settlement was announced. Bijur also said the company will devote $24.3 billion to capital spending over the next five years, and that a letter of intent to merge Texaco’s and Shell Oil Co.’s U.S. refining and marketing operations could be signed early next year.