Career at Phillips Petroleum Boots Adams

1 career @ phillips petroleum

1.1 executive years
1.2 years company president

1.2.1 u.s. synthetic rubber program
1.2.2 spinning off subsidiaries
1.2.3 adams building

career @ phillips petroleum

in 1921, boots adams helped organize phillips 66ers, amateur basketball team sponsored phillips petroleum company. played year on team s inaugural roster. because of team affiliation, adams offered employment company. began working warehouse clerk in 1920, , ascended become company s president. 1 of youngest ever lead major corporation in united states.

early executive years

boots adams first entered executive tier in 1932. phillips petroleum company s founding president, frank phillips, appointed adams assistant. promoted despite opposition executive staff, considered boots , phillips odd team. frank phillips resistant incorporating adams ideas. phillips instructed adams: m going object do, go ahead , anyway.

adams reconstituted company s amateur basketball team. phillips had stopped sponsoring after 1929–30 season, because of great depression. adams recruited joe fortenberry , jack ragland; both of them olympians 1936. teamed them chuck hyatt, tom pickell, jay wallenstrom, , bud browning. lastly recruited local favorites, ray ebling , dave perkins complete 1937 team.

the phillips 66ers ended season in first place. team favored win aau tournament well. instead, denver won championship, 43–38, in bartlesville. columnist chet nelson called game: greatest game rocky mountain fans ever witnessed. in 1958, boots adams inducted helms foundation amateur basketball hall of fame.

according reference business, phillips , adams disagreed how company should run. nevertheless, adams able secure frank phillips confidence, , authority move ideas forward.

at 1938, stockholders , board of directors annual meeting, company president frank phillips announced plans retire. culminated announcement saying wanted k.s. adams, fast-talking young man kansas big ideas, [to] elected new president of phillips petroleum company . directors subsequently returned unanimous vote in support of phillips recommendation.

years company president

boots adams wanted diversify company emerging oil-related industries. after adams became president of phillips petroleum, company increased acquisition of natural gas mining rights. in 1938, natural gas burnt off @ wellhead waste product of oil exploration , mining rights cheap. increased share of natural gas mining reserves increased phillips profit when commodity s value more doubled end of world war ii.

adams supported start-up venture called pace setter well. purchased pace setter home , advocated concept. sold modern-style homes used wide range of natural gas appliances. adams knew of existing profit potential use of natural gas increased. 1955, phillips company had commanding share of natural gas reserves, 13.3 trillion cubic feet worth approximately us$931,000,000 (equivalent $8,323,486,957 in 2016). dividends increased, satisfying stockholders, , workers benefited wage increases commensurate company s bottom line.

adams employed graduates of variety of scientific disciplines. advocated research , technical expertise needed companies compete in emerging technological society. 1 of newly hired professionals jack graves, geologist university of oklahoma. adams tasked graves evaluate oil formation known locally mississippi chat. evaluation resulted in significant new discovery of oil. phillips continued using study on following 3 years – striking lot of new oil direct result.

adams diversified company petrochemical industry, creating additional revenue stream. newly hired chemical engineers used research synthetic polymers (specifically petroleum based polymers). noticed growth of companies dupont , dow, doing based on economic value of patents. in particular, adams wanted phillips involved in developing synthetic rubber.

with significant advancements in place, possible produce material similar rubber. however, inferior in quality, , cost prohibitive produce. adams concerned because 2 processes showed equal potential emerge preferred manner of production. 1 depended on distilling additive reactivity, while other used petroleum based reagent. adams hopeful rubber come polymerized petrochemical means.

u.s. synthetic rubber program

at beginning of involvement in world war ii, supply of natural rubber southeast asia abruptly cut off. government knew of strategic importance of rubber , had instituted rubber reserve company (rrc) stockpile reserves of rubber mitigate consequences of being cut off supplies. rrc had 1 million tons of rubber in reserve, while military consumed 600,000 tons annually. victory depend on massive influx of synthetic rubber. program s success measured tonnage alone. either sufficient quantities produced, giving allies fighting chance, or demand not satisfied, guaranteeing inability prevail.

boots adams joined consortium, dedicating resources of phillips petroleum company effort dubbed gr-s (government rubber-styrene). program s success achievement of high magnitude entire group of participants. on august 29, 1998, gr-s, (also called u.s. synthetic rubber program), officially labeled national historic chemical landmark. records stored in archives of university of akron in akron, ohio.

the market synthetic rubber grew become us$60,000,000,000 (equivalent $86,260,487,415 in 2016) year industry turn of century. , phillips, conocophillips, retained share of market.

spinning off subsidiaries

in 1948, adams began spinning off assets phillips diversification. formed subsidiaries while retaining controlling interest in company , share of profits realized. first company formed phillips chemical company. in 1951, secured lucrative patents discovery of polyethylene , further development of high-density polyethylene resin (hdpe). first tangible product derived patents durable hdpe polyolefin plastic marketed marlex. marlex material wham-o contracted use produce hula hoop, 1950s toy sold on 25 million units in first 4 months on market. chemical subsidiary maintained viability , continues returning profits parent company bartlesville. of 2014, having merged chevron in 2000, chevron phillips chemical company operates 50-50 venture; splitting costs , profit shares equally. new entity tossed coin in boardroom settle on company s name chevron winning toss , electing have name appear first.

the adams building

in 1949, adams decided consolidate company s in house operations under 1 roof. operations @ time scattered across 38 different facilities. adams wanted company s research laboratories modernized, support profits being generated research , development. contracted architectural firm of neville , sharp of kansas city, missouri build 12-story, 457,000 square feet multipurpose headquarters. occupied entire city block in bartlesville , named adams building. town renamed seventh street, adams street, , in 1962, constructed adams municipal golf course in name. of 2014, 3 namesakes continue bear adams name.