ExxonMobil the Exxon Building (1251 Avenue of the Americas), its former headquarters in Rockefeller Center, to a unit of Mitsui Real Estate Development Co. Ltd. in 1986 for $610 million, and in 1989, moved its headquarters from Manhattan, New York City to the Las Colinas area of Irving, Texas. John Walsh, president of Exxon subsidiary Friendswood Development Company, stated that Exxon left New York because the costs were too high. On March 24, 1989, the Exxon Valdez oil tanker struck Bligh Reef in Prince William Sound, Alaska and spilled more than of crude oil. The Exxon Valdez oil spill was the
Exxon Valdez steel were removed and replaced that July, totaling US$30 million of repairs to the tanker. Its single-hull design remained unaltered. The Exxon Valdez spill occurred under President George H. W. Bush, whose EPA Administrator William K. Reilly played a significant role in mobilizing presidential support for action to contain and clean up the spill. Litigation was filed on behalf of 38,000 litigants. In 1994, a jury awarded plaintiffs US $287 million in compensatory damages and US $5 billion in punitive damages. Exxon appealed and the Ninth Circuit Court reduced the punitive damages to US $2.5 billion. Exxon then appealed the