Word: hughes
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...Board seemed to judge that Pennzoil's combative chairman, J. Hugh Liedtke, 65, had overreached himself in the dispute. It has dragged on since November 1985, when a Texas jury issued a $10.5 billion judgment against Texaco for inducing Getty Oil to break a merger agreement with Liedtke's Houston-based firm. Shortly before the bankruptcy, Texaco filed an affidavit in a Texas appeals court claiming that any settlement over $500 million would trigger defaults. Liedtke, on the other hand, said he turned down a Texaco offer of $2 billion two weeks ago. Liedtke wanted more like $4 billion...
...reach a settlement with Pennzoil produced no results. Within hours following the Supreme Court's ruling, Texaco Chairman Alfred DeCrane, 55, and Chief Executive James Kinnear, 59, flew with a battery of lawyers from White Plains to Pennzoil's home city of Houston. But Pennzoil's combative chairman, J. Hugh Liedtke, 65, who has stayed on past retirement age to fight the case, steadfastly refused at least ten settlement offers from Texaco. At the start of the talks, Texaco apparently had a figure of $500 million in mind, but Pennzoil was believed to have held out for at least...
CORRESPONDENTS: Henry Muller (Chief); B. William Mader, John F. Stacks (Deputies) Washington Contributing Editor: Hugh Sidey National Political Correspondent: Laurence I. Barrett...
...bundle of funny, appealing characters in search of an author. Bob Goldthwait is a stand- up comic of surreal mien who spits out his wit in the strangulated voice of an idiot savant after a go at the glue bottle. Both of these gifted comics are trapped in Hugh Wilson's Burglar, an affable movie that is all plot and no common sense...
CORRESPONDENTS: Henry Muller (Chief); B. William Mader, John F. Stacks (Deputies) Washington Contributing Editor: Hugh Sidey National Political Correspondent: Laurence I. Barrett...