Oil and Honor: The Texaco-Pennzoil Wars

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9780425111727: Oil and Honor: The Texaco-Pennzoil Wars

This inside account of the eleven-billion-dollar battle for Getty Oil is a story of greed, fear, betrayal in corporate life

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From Publishers Weekly:

Texas-based Pennzoil Company in 1984 achieved what was thought to be a binding agreement to acquire multibillion dollar, oil-in-the-ground assets left by J. Paul Getty to his heirs and the Getty Oil Co., only to learn hours later that New York-based Texaco had beaten them out. The ensuing legal battle, in which Pennzoil initially won an unprecedented $10.3 billion judgment, is vividly detailed here in a thriller-style chronicle by a Houston staffer for the Wall Street Journal. Petzinger's financial, juridical and cultural saga pits North against South, East vs. West, handshake-honor wildcatter against Wall Streeters, with Getty heirs stirring confusion and lawyers slugging it out in a court struggle that still goes on. (Texaco has requested a new trial.) A must for the oil industry and stock-market crowd and a highly instructive entertainment for everyone else. First serial to the Wall Street Journal. (June
Copyright 1987 Reed Business Information, Inc.

From Library Journal:

This book reads more like fiction than like a narrative of actual events leading to headline-making litigation. It describes in gripping detail Texaco's break-up of the merger between Pennzoil and Getty Oil. The Texas jury awarded damages against Texaco in the astronomical sum of $11 billion. The company has since filed for bankruptcy. The case is rumbling through the appellate process. While the Wall Street Journal and other newspapers have reported thoroughly on the proceedings, this book does a marvellous job of assembling all the facts in one place. The reader gets an inside look at the rarefied world of takeover artists, slick investment bankers, and crafty lawyers. Recommended for public libraries. M. Balachandran, Univ. of Illinois Lib., Urbana
Copyright 1987 Reed Business Information, Inc.

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