Word: jamail
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...Texaco's bond must be reduced to a more reasonable $1 billion. That gave the company some breathing space to file appeals, and the scene of battle returned to Houston, where much of the public was rooting for the hometown company against New York-based Texaco. Pennzoil Attorney Joseph Jamail was already becoming a folk hero there for jousting with the giant firm...
...Jamail, the Houston lawyer who has become a Texas folk hero by championing Pennzoil's case, crowed about his latest triumph. Said Jamail: "I'm a happy man today. The judgment says that the conduct of Texaco management was guilty and malicious." Investors share his enthusiasm: Pennzoil stock rose 10 1/8, closing the week at 81 1/8, while Texaco shares fell...
Pennzoil naturally was elated. The award could catapult the 36th-largest U.S. oil company into the ranks of the oil giants. Pennzoil's stock, which stood at $49.875 a month ago, closed at $66.125 last week. Upon hearing Casseb's ruling, Pennzoil Attorney Joseph Jamail and Chairman J. Hugh Liedtke exchanged bear hugs and laughed aloud. When a reporter asked a jubilant Liedtke whether he still might settle with Texaco, he replied, "We're always willing to discuss matters. The problem is that dealing with Texaco is like trying to frisk a wet seal...
...Indian giver, he was not sued because Texaco in the merger contract agreed to assume liability for any legal actions arising from the purchase. Pennzoil's lawyers argued that Texaco must have known it was doing something wrong to offer such an inducement to Getty. Said Pennzoil Attorney Jamail: "Texaco purchased this lawsuit when they wrote insurance policies for the Getty people...
...administrative maintenance of their place in society as the hiring of the immigrant gardeners who keep the clouds of azaleas around the house in River Oaks blooming, as significant as the notices on the fences reading ARMED GUARD ON DUTY AT ALL TIMES, as regular as the forays to Jamail's grocery store with the cook and chauffeur to carry home the dips and sauces and racks of lamb. Clothes are an essential part of the endless series of balls by which this brash, arriviste city supports its cultural and charitable urges...