Texaco seeks bankruptcy protection in Pennzoil dispute
Texaco Inc file for Chapter 11 bankruptcy in New York amid a fierce feud with Pennzoil Co. CEO James W. Kinnear condemned Pennzoil while Pennzoil chairman J. Hugh Liedtke criticized Texaco’s move as arrogance. Executives from both firms met at the Waldorf-Astoria without altering positions.
MENTIONED IN THIS ARTICLE
New York
Texaco Inc
Pennzoil Co
Manhattan
James W. Kinnear
Texaco
Pennzoil
Kinnear
Baine P. Kerr
Perinzoil
J. Hugh Liedtke
Waldorf-Astoria
Texaco files Chapter 11 amid Pennzoil dispute and debt woes
Texaco Inc and two subsidiaries file Chapter 11 bankruptcy protection in a move aimed at preserving operations amid a $12 billion Texas bond dispute with Pennzoil over an $11 billion damage award. The filing suspends Texaco dividends and debt payments, likely depresses stock and bond prices, and could delay Pennzoil’s recovery for years.
MENTIONED IN THIS ARTICLE
Texaco
Texas
Pennzoil
Kinnear
Texaco Inc
Texaco Capital Inc
Texaco Capital N.V
E Texaco
Tailgater Rascal narrowly frees himself from gate in Mount Vernon
A four month old mixed breed dog named Rascal tried to squeeze through a gate in Mount Vernon Washington and found the opening too tight. After several minutes of wagging and wiggles the young dog backed out and continued on his way.
MENTIONED IN THIS ARTICLE
Rascal
Mount Vernon
Wash
Pennzoil Sea Headquarters Profile and 1986 Financials
A condensed profile showing Pennzoil Sea Headquarters in Houston with 6,300 employees. Domestic focus with operations in Europe, Australia, Indonesia, China and Africa. It serves 158 million barrels and 1 billion cubic feet. 1986 revenue $1.9 billion. after tax profit $45.4 million or 72 cents per share. Other interests include sulphur and lubricants. The company ranks as the 200th largest U.S. firm, slipping from 167th in 1985.
MENTIONED IN THIS ARTICLE
White Plains
N.Y
Exxon Corp
Mobil Corp
U.S
Houston
Europe
Australia
Indonesia
China
Africa
Bird Strike Becomes Braves Two Run Moment at Shea
Monday New York report notes a pigeon was struck and killed by a batted ball in a game at Shea Stadium. Dion James hit a routine fly to left that clipped the bird as Kevin McReynolds moved under it, allowing James to reach second and Dale Murphy to homer for two runs. The incident marks the first bird killed by a batted ball in major league history per Elias Sports Bureau.
MENTIONED IN THIS ARTICLE
NEW York
Shea Stadium
Atlanta Braves
New York Mets
Dion James
Mets
Bobby Ojeda
Kevin McReynolds
James
Rafael Santana
Dale Murphy
Elias Sports Bureau
Eric Davis
Eugene
Ron Harrison
Medford
Davis
Cincinnati Reds
Dave Winfield
New York Yankees
Toronto
Morning fog to sun as Accu Weather forecasts 67 high
The forecast calls for morning fog then sunshine this afternoon with a high near 67. Mostly clear tonight with patchy fog possible and a low around 48.
MENTIONED IN THIS ARTICLE
Accu
Miners Return to Work Ends Pocahontas Pension Fight
On April 13 1948 about 23000 coal miners in the Pocahontas field resumed work ending a month long pension dispute between John L Lewises UMWA and mine operators. Miners returned to the drift mouths of the region's mines.
MENTIONED IN THIS ARTICLE
John L. Lewis
UMWA
Pocahontas
Dole calls Shultz Moscow trip last chance for arms talks
Senator Bob Dole said Shultz's Moscow talks could be the final chance for a Reagan era arms control agreement. He warned that failure to reach a timetable may doom any deal. Officials expect focus on a total ban on intermediate range missiles to aid verification and reduce risk in Europe and Asia.
MENTIONED IN THIS ARTICLE
Dole
Shultz
Reagan
Wwashington
Senate
Bob Dole
George P. Shultz
Moscow
Kansas
Cbs-Tv
Helsinki
Finland
Soviet Union
Europe
Soviet Asia
United States
China
Japan
South Korea
Asia
Budget Battle in Charleston Deepens as Dispute Reaches Court
West Virginia leaders clash over next year’s 1.56 billion budget with Gov Arch Moore urging a 98 million cut to meet revised revenue. House vetoes Moore’s changes, threatens court action while Senate trims the budget ahead of April 26 return. The saga traces to 1915 and past court fights over executive budget power.
MENTIONED IN THIS ARTICLE
Charleston
Arch Moore
Moore
House
Senate
State Supreme Court
West Virginia
Atlantic
Henry Hatfield
Hatfield
Victor Ross
W.T. Brotherton Jr
Lewis McManus
Supreme Court
Richard Neely
Joe Albright
Neely
Brotherton
Also Mentioned on This Page
Larry Mize
Augusta
Pennzoil Sea
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