Word: texaco
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...humming the theme from Jaws whenever he rose to cross-examine a witness. Westmoreland, who dropped his claim, told Vanity Fair that he wouldn't have given up if he'd "had one [lawyer] like Boies." A few days before Thanksgiving 14 years ago, Boies was drafted to handle Texaco's appeal of a $10.6 billion judgment for interfering in Pennzoil's acquisition of Getty Oil. He devoured 30,000 pages of trial transcript between visits to the bedside of his mother, who was dying of brain cancer...
Boies is used to cramming. He has struggled with dyslexia since childhood, and memorizes every detail to avoid having to read anything twice. A few days before Thanksgiving 1986, he was recruited to perform one of his most dramatic saves: appealing a jury verdict that assessed Texaco $10.6 billion for busting up the acquisition of Getty by Pennzoil. At the time, he had been tending to his dying mother in Fullerton, Calif. By Dec. 3, he had mastered 30,000 pages of the original trial transcript, and for the duration of the appeal he split his time between federal court...
...loopholes by wealthy individuals and corporations to escape their tax burden. A report recently released by CTJ and the Institute for Taxation and Economic Policy noted that top U.S. corporations have used loopholes to steadily reduce their tax obligations over the last decade. For example, Texaco earned $3.4 billion in profits from 1996 to 1998, but instead of paying taxes it received money from the federal government to the tune of $304 million. If the loopholes were closed, this money could be returned to individuals--we would rather see a negative income tax for the working poor than for Fortune...
...safer route is to look for value either in a value-oriented stock fund or collection of individual stocks. Despite his near-term worries, Nabi advises picking up proven stocks, like Citigroup, Hewlett-Packard, Heinz, 3M, Verizon, Texaco, Emerson Electric and General Dynamics--all of which have below-market P/Es. If the market tumbles, they'll hold up better than most, and if it rallies, they could be the kinds of stocks that come into favor first...
...death. But Franklin did not let grief paralyze him. He founded the Shaka Franklin Foundation for Youth, dedicated to the prevention of youth suicide. Through it, Franklin, 61, became an even more prominent presence in Colorado. His fund raisers drew donations from the Denver Broncos, Coors, Norwest Bank, Texaco and Conoco. The half-million-dollar foundation is developing recording studios, a 240-acre mountain retreat, a computer lab for kids who are at risk and a hockey arena. "Les' program is very successful," says Dar Emme, founder of the Yellow Ribbon Suicide Prevention Program in Westminster, Colo. "Taking the grief...