several steps, followed by later resolution and wasteful discard of unwanted isomer. Sepracor has licensed the asymmetric epoxidation technology developed by organic chemistry professor Eric N. Jacobsen of Harvard University. This asymmetric epoxidation was successful in generating an enantiomeric epoxide, which could be converted via an oxazoline to the needed isomer of the aminoindanol. Sepracor is supplying catalysts for the Jacobsen reaction. Observers in the industry tell C&EN that DSM Andeno of Venlo, the Netherlands, is actually supplying the aminoindanol. Stephen Stinson
NSF gives urban science education $135 million Nine cities with large numbers of children living in poverty will each receive $15 million over the next five years from the National Science Foundation (NSF) to improve their science, math, and technology education. The awards are the first major grants under NSF's ambitious new Urban Systemic Initiative, which aims to catalyze sweeping changes throughout the cities' educational establishments. "It is fair to say that the nine awards represent a revolutionary vehicle to ameliorate one of the most intractable issues of our time/' says Luther S. Williams, NSF assistant director for education and human resources. "That is, to reduce the performance gap in science and mathematics between often poor, substantially minority inner-city youths and their cohorts in more affluent communities." "We expect to revise all elements of the status quo," Williams adds. "How the system is governed, how it's organized, [its] policies, finances, curriculum, teaching, assessment, and belief systems and attitudes as they relate to the abilities and interest of inner-city youth to learn science and mathematics." The nine cities—Baltimore, Chicago, Cincinnati, Dallas, Detroit, El Paso, Miami, New York, and Phoenix—are among the 25 eligible for the grants based on their number of poverty-level school-age children. The cities have been working with NSF for the past year to develop partnerships involving the city governments, school systems, parents, business communities, and local universities. These coali-
tions have committed to raising standards and expectations for students while providing teachers with necessary training and tools. The NSF education directorate's systemic reform movement also includes both a Statewide and a Rural Systemic Initiative. The common goal of all three programs, Williams says, is to stimulate sustained change in all facets of the science educational system. The programs are centered on the premise that a strong foundation in science and math is essential to the education of all children, not just the top students. New York City has already begun implementing the kind of change the NSF program wants to foment. It announced earlier this month that students will no longer be able to receive a high school diploma without rigorous course work in math and science. "The $15 million we're getting from NSF is not even above the noise level of the New York City school budget of $7 billion," says chemist Charles W. Merideth, president of New York City Technical College and a member of the city's systemic change team. "We see the money as a catalyst to jump-start our reforms." Pamela Zurer
Arco may sell stake in Lyondeli Petrochemical Atlantic Richfield Co. (Arco) has unveiled a plan to raise as much as $1 billion in cash by publicly offering debt securities linked to stock in Lyondeli Petrochemical. Arco owns slightly less than half of the Lyondeli stock. The plan would allow Arco, if it chooses, to divest itself of its 49.9% stake (39.92 million shares) in the Houstonbased chemical firm. Sale of the notes is tied to Lyondell's stock price of $25.25 per share on May 4. The debt securities will be exchangeable after three years, at Arco's option, into either Lyondeli common stock or cash. Betting is that Arco will exchange the securities for stock and divest itself of Lyondeli—joining other oil firms that have recently distanced themselves from chemical holdings to generate cash. In the late 1980s, Arco spun off its chemical operations into two publicly owned companies: Its integrated petrochemicals and petroleum processing
Lyondeli at a glance Sales: $3.9 billion in 1993 $4 million in 1993, excluding effects of accounting changes Headquarters: Houston mployees: 2,283 r products: Petrochemicals, including olefins (primarily ethylene, propylene, butadiene, butylènes, and specialty products), methanol, methyl tert-butyl ether, low-density polyethylene, and polypropylene Owns about 90% of LyondellCitgo Refining Co., which produces refined petroleum products, including gasoline, heating oil, jet fuel, aromatics, and lubricants units became Lyondeli, and its oxygenates and thermoplastics operations became Arco Chemical. Arco still owns more than 80% of Arco Chemical stock. Arco will not cite specific reasons for its new move, saying proceeds of the offering will be used for general corporate purposes. "Arco's plan to go forward with this debt offering has been motivated by Arco's financial strategy and does not reflect any adverse view of Lyondell's future," stresses Mike R. Bowlin, Lyondeli chairman and Arco president. "On the contrary, we have structured this transaction so that Arco can continue to participate in Lyondell's upside potential." Indeed, Arco is considering sale of its stake in Lyondeli at a time when the chemical business is showing signs of recovery. "Actions that Lyondeli took in 1993 to strengthen the company have improved Lyondell's outlook for 1994, even if industry conditions [were to] remain the same as they were in 1993," said Bob G. Gower, Lyondell's president and chief executive officer, at the firm's recent annual meeting. "However, so far the business environment for both petrochemicals and refining looks significantly better than last year." "We do not believe [Arco's proposed offering], if completed, will have any impact on [Lyondell's] operations," Gower added. The only real change will be reshuffling of board members. Five of Lyondell's 11 directors who are Arco officers will resign after close of the debt offering. Susan Ainsworth MAY 16,1994 C&EN
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