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Zapata Corp. Suffers from Lousy Investments in Insider's Properties.
Feb. 11--TAMPA, Fla.--Zapata Corp.'s rough-and-tumble history started in Texas in 1953 when former president George Bush founded it as an oil exploration company.
Zapata, named after the Marlon Brando movie Viva Zapata, amassed a fleet of offshore oil rigs, tankers and other ships while becoming a large player in the industry. Bush left the company in the early 1960s to begin his political career.
In 1972, looking to diversify, Zapata bought a fishing company in Reedville, Va., and renamed it Omega Protein Corp.
Malcolm Glazer began accumulating Zapata stock in the early 1990s after several successful investments in mobile home parks, motorcycles …
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