People News: News Briefs

September 2004
Convenience Store News;9/13/2004, Vol. 40 Issue 12, p20
Trade Publication
The article presents news briefs related to business. The Royal Dutch/Shell Group will pay a $120 million penalty to U.S. authorities for the company's misstatement of its oil and gas reserves. The Anglo-Dutch company stunned shareholders in January when it downgraded 20 percent, or 3.9 billion barrels, of its reserves from "proven" to less certain categories. Yakima, Washington-based Maid O'Clover Corp. sold all of its 19 convenience stores for $12 million in transactions approved in U.S. Bankruptcy Court. Zip Trip bought four stores in the Spokane, Washington, area for about $4 million, and the remaining 15 stores were sold to various groups and independent operators.


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