Word: texaco
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...January 1985, after California's pension funds had taken a drubbing in the wake of Disney and Texaco greenmail payouts, Unruh persuaded managers from across the country to fight for better protection for their investments. Council members now include representatives of huge funds in California, Kansas, Illinois, Wisconsin, Massachusetts, Minnesota, New Jersey and New York City...
...1960s, is a reclusive rare-books collector in London. Depending on which biography you read, he wore either yellow or white shoes to his father's funeral. Gordon Peter, 52, is a classical composer who involved himself in Getty Oil long enough to sell the company to Texaco. Grandson Jean Paul III came to a bad end: years of alcohol and drug abuse precipitated a stroke that left him paralyzed and virtually blind...
Last Friday, Judge Charles L. Brieant, who sits on the federal bench in White Plains, New York, waived a Texas law requiring Texaco to post a bond for the full amount of the penalty, plus interest, before it could proceed with its intended appeal...
Brieant decided that Texaco could proceed with its appeal upon posting a bond of only $1 billion. If Texaco were not able to post a bond, Pennzoil could have begun to claim its award while appeal proceedings continued. Texaco claimed that such a requirement would have forced it into bankruptcy before it could complete its appeal...
...Whatever one thinks of the state court judge's ruling, there were other ways within the state for Texaco to proceed," he said. "Texaco should have to first argue the absurdity of the award in a Texas court...