L.A. Acquires A Generous Corporate Giant.

Last April, Los Angeles lost one of its most distinguished corporate citizens: The Atlantic Richfield Company (ARCO) -- which employed hundreds of Angelenos and provided leadership, volunteerism and funding to various organizations throughout the state - was acquired by BP, the international oil company (formerly known as British Petroleum and BP Amoco).

Now ARCO's global headquarters has been replaced by BP's western U.S. regional office located in ARCO Center on Hope near 3rd Street. But all is far from lost for Angelenos.

BP's chief executive, John Browne, has made a commitment to the State of California to match and exceed ARCO's levels of philanthropy. Thus, over the next 10 years, BP will be giving approximately $10 million per year in support of worthy causes throughout the state. The organization has already announced $10 million grants to Caltech and UC Berkeley to study the conversion of natural gas into useful liquids and chemicals. BP's new western regional president, Bob Malone, is a political and community activist who intends to set the example for community service among BP employees. While chief executive of Alyeska Pipeline Service Co. in Alaska, he served on the board of regents for the University of Alaska and on the board of directors for the Children's Trust, which funds programs that help stem child abuse and neglect. He is still a member of the board of the Nature Conservancy in Alaska. An ardent supporter of youth, education and the environment, Malone and his family are currently assessing where and how they will offer support to members of their new community.

BP is the nation's largest producer and marketer of gasoline in the United States and the country's largest oil producer. Though its administrative offices are streamlined compared to the many people who worked downtown at ARCO's sprawling headquarters, the company employs approximately 6,500 people throughout Southern California.