They’ve Flipped

The announced merger between Chevron Corp. and Phillips Petroleum Co. hit a minor snag when it came time to name the new, combined, company. “Lots of names were suggested,” a Chevron spokesman said, but it came down to Chevron wanting Chevron-Phillips, and Phillips wanting Phillips-Chevron. To decide, the companies had a special gold coin struck, and a group of executives tossed the coin. Chevron-Phillips won. (AP) ...Call it: heads the oil companies win, tails the gas-buying consumers lose.