Word: texaco
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Last October, BP, Alcan, DuPont and others joined with Environmental Defense to launch the Partnership for Climate Action, pledging to reduce their greenhouse emissions to levels meeting or exceeding Kyoto's requirements. Ford, Daimler-Benz and Texaco have not yet joined, but last year they did quit the misleadingly named Global Climate Coalition, an industry group opposed to emissions controls. Honda and Toyota have introduced hybrid cars with emissions 40% lower than standard models of the same size...
...that barely latent anti-Americanism be harnessed to the cause of global climate control? The Greens in the European Parliament, decrying the White House's "irresponsible and egoistic approach to this global threat," called last week for a boycott of American oil companies like ExxonMobil and Texaco. Others, such as Stephan Singer of wwf International, think such moves are counterproductive. "American companies aren't that concerned with whether a few thousand people less buy their gas in Europe," he says. "A boycott will just let the Europeans off the hook." In fact, Europe and the rest of the world...
...players never went away. Bottom fisher Sanford Weill, for one, amassed an impressive array of financial companies on the cheap while others were getting tech-obsessed. He is now the head of Citigroup, one of the world's largest banks. Icahn, the '80s raider who shook Texaco and took TWA, has asserted influence in small doses throughout the '90s by buying large amounts of distressed corporate debt, as has former Milken colleague Leon Black at Apollo Advisors...
Back then, the "biggest case" was an arcane smackdown between two huge oil companies, Pennzoil and Texaco. This year his efforts have had direct, determinative impact on the antitrust case against Microsoft, in which he represented the U.S. government; the half-billion-dollar settlement of a suit by his art-buyer clients against the world's two leading art-auction companies, Sotheby's and Christie's; the essential meaning of copyright on the Internet, which he is trying to establish on behalf of the music website Napster; and, supremely, the Tallahassee passion play. Back at the time of the Pennzoil...
...That is a role that he's very good at because of his innate wisdom... and it's the kind of role that requires discretion," says Patrick, who is now the general counsel for Texaco. "If he was the kind of person who needed to be in the footlights, he wouldn't be very...