The Man Who Beat Boone

Canadian-born Fred Lloyd Hartley, 68, once proclaimed, "My life and my love is Unocal." It is a love affair that goes back to May 1939, when he graduated from the University of British Columbia and came to work at Union Oil, the forerunner of Unocal, as an engineering trainee at the Oleum refinery in San Francisco. He rose quickly through the executive ranks, and has served as chief executive since December 1964.

It surprised few oil-industry watchers that Hartley, a man with a reputation for being as blunt and hard driving as a drilling rig, resisted with deep anger and tenacity T. Boone Pickens' attempt to take over his company. Last April, when the two men met in a Washington corridor while waiting to testify about takeovers before the House Ways and Means Committee, Hartley refused to shake his adversary's hand. This was no sporting contest; this was war.

During the 13-week-long battle, Hartley directed or approved every strategic move. He met daily at company headquarters in Los Angeles with his staff, lawyers and investment bankers in a 15- by 20-ft. windowless room furnished with a metal table and chairs and several chalkboards. "We would work for six to 15 hours at a time. Then Hartley would pop in and demand to know what we'd come up with," said one participant. After his victory, Hartley could scarcely conceal his glee: "This thing is going to keep me busy on the lecture circuit for years. If you want to hear my story, I'll send you an invitation to one of my speeches." One of his aides added, "It'll cost you."

In 1976, Hartley suffered a heart attack, but he shows no signs of slowing down or thinking about retirement. In fact, shortly after his illness, he bought a 51-ft. yacht, which he named My Way.