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Nov 28, 2010

Re: Benjamin H. Freedman (1890-1984)

 

Pennzoil vs Texaco
The trial took place in Texas, not in New York, where a different set of values prevails and where every contract must be carefully examined for "gotcha" provisions. 

The verbal agreement was enforced because of Texas law. I am not sure if the verbal contract would have been enforceable over a written one in New York. Interestingly it was Texaco, a Harrison, New York, headquartered company, that requested the trial take place in Texas. 

For those who are not acquainted with this case, Pennzoil (a Texas oil company whose CEO had been a long time partner with G.H.W. Bush) entered into a hand-shake agreement to purchase Getty Oil. Then Texaco (with lawyers and investment advisors counselling) tendered a much higher offer and bought Getty Oil. Pennzoil sued Texaco for interfering in a done deal. They claimed 3 billion actual and some 7.5 billion punitive and won. Texaco's legalistic arguments were trumped by the down-home arguments of the Texans. 

Texaco never disputed the absurd amounts claimed and therefore lost the opportunity in court to challenge the overblown claim. They then made another blunder by filing a failed appeal in Federal Court. 

The after-bankruptcy settlement, four years later was agreed on 3 billion. A rump Texaco (has to sell assets to pay the judgement) was subsequently swallowed by ("merged into") Shell.

Manuel Sotil

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Consequences of Fractional Reserve Banking 1) Monopoly on the Supply of Money.mov

 

Check out this video on YouTube:

http://www.youtube.com/watch?v=UIx_F56dsTM&feature=youtube_gdata_player

Peace.
Michael Santomauro
@ 917-974-6367

What sort of TRUTH is it that crushes the freedom to seek the truth?

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Tikun Olam : U.S. Defense Secretary Admits U.S. Cannot Prevent Israeli Attack on Iran

 



Tikun Olam-תקון עולם: Make the World a Better Place
November 28, 2010 6:20 PM

Much of great interest in the Wikileaks documents dump as recounted by the N.Y. Times.  One especially interesting tidbit concerns a lunch meeting between the French defense minister and Robert Gates, U.S. defense secretary.  When the Frenchman asks if Israel could attack Iran without U.S. approval, Gates replies:

Mr. Gates responded "that he didn't know if




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Michael Santomauro
253 W. 72nd Street
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Re: Benjamin H. Freedman (1890-1984)

 


From: Paul..... <paul.....
Date: November 17, 2010 9:01:09 PM EST


 

In going through an old file recently I discovered a reference in a clipping from 1986 that jumped out at me. I wouldn't have reacted to the names at the time (although I would have a year or so later), because they didn't mean anything to me. However, it appears that I filed the article for reference without reading it, because it wasn't marked with underlinings and notes (an annoying habit I have).
 
Benjamin H. Freedman (1890-1984) was an anti-Communist, anti-Zionist Jew and convert to Roman Catholicism. He funded Conde McGinley's "notoriously anti-Semitic" magazine Common Sense and was otherwise active in righteous causes. Late J&E member Robert John included an acknowledgement of Freedman's assistance in providing material for his book Behind the Balfour Declaration (IHR, 1988). Jews routinely refer to Freedman as a "self-hating Jew."
 
Issa Nakhleh is (or was--I don't know if he's still alive) a longtime champion of the Palestinian cause, a Barnes Review board member, and author of Encyclopedia of the Palestine Problem.
 
So the two names jumped out at me. Here's the passage:
 
"If you are dealing in such intangibles as consulting and brokerage services, the courts argue, you must protect yourself with a written agreement. For industrial consultant Benjamin Freedman, that turned out to be a $2.05-million lesson.
Freedman had pitched David Fulton, an officer of Chemical Construction Corp., in New York City, on the idea of building a plant in Saudi Arabia to convert flared-off natural gas to fertilizer. The deal would be worth $41 million to Chemical, and, for acting as broker, Freedman would be entitled to a 5% fee. The two men met several times; Freedman brought his Syrian associate, Issa Nakhleh, into the deal, and Nakhleh negotiated directly with the Saudi government at Chemical's request. Chemical won the contract, and finished construction of the plant four years later, but refused to pay Freedman's fee. Despite interoffice memos signed by Fulton acknowledging that Freedman was involved in the transaction, Freedman lost his lawsuit to force Fulton to pay. There was no written agreement." 
-"Let's Shake on That," INC. magazine, June 1986, 131.
 
Now, the question that immediately jumps into one's mind is whether organized Jewry (and Jews and Gentiles they'd have enlisted, including, probably, officers at Chemical, which saved a bundle by not paying) illegally stuck their nose into this private transaction in order to prevent $2 million from falling into Freedman's hands. That possibility strikes me as being enormous.
 
For sure it was Jewish judges who ruled against Freedman. It also turns out that Nakleh had to sue separately in an attempt to obtain his own 5% fee. Whether he was successful or not I don't know, but Jews would have had the same incentive to interfere in his case.
 
(Kevin, I'm cc'ing you because I know you are interested in and knowledgeable about Freedman, have written about him, reprinted some of his work, and posted an audio speech by him.)

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Denver Media Service

 to ReportersNoteb.
show details Nov 18 (11 days ago)

Texaco vs. Pennzoil case

Samuel Goldwyn said, "An oral contract is as good as the paper it's written on," but this is not always the case. For example, In 1984 after Getty Oil was sold to Pennzoil in a handshake deal, Texaco made a higher offer, and the company was sold to Texaco. Pennzoil filed a lawsuit alleging tortious interference with this oral contract, which the court upheld and awarded $11.1 billion in damages, later reduced to $9.1 billion, but increased again by interest and penalties.

J. Hugh Liedtke, 81, Oilman Who Bested Texaco in Court

By DOUGLAS MARTIN
Published: April 01, 2003

J. Hugh Liedtke, the longtime head of the Pennzoil Company who began his career by drilling scores of consecutive successful oil wells with his partner, George H. W. Bush, and went on to win billions of dollars from Texaco in a dramatic legal battle, died on Friday in Houston. He was 81.

His son Blake said that he had suffered from several maladies for a long time.

Mr. Liedtke was a leading member of a generation of Texas oilmen who turned their jackpots from wildcat wells into large public companies. Like his fellow oilman, T. Boone Pickens, his specialty was buying assets for less than he thought they were worth and repackaging them to make them more attractive to investors.

Early in his career, he engineered one of the first major hostile takeovers when Pennzoil acquired the United Gas Pipeline Company, which was nearly eight times the size of Pennzoil. It was described at the time as a minnow swallowing a whale.

But his biggest triumph came in the courtroom where his legal team convinced a jury in 1988 that Texaco had illegally usurped his handshake deal to acquire an interest in the Getty Oil Company. He ended up with $3 billion that he used to acquire Chevron stock, only to trade that back to the company for lucrative oil and gas properties.

He had earlier turned down a $2 billion settlement offer from Texaco, causing Fortune magazine to ask him if he was the greediest man in the world or needed psychiatric help.

''Maybe both,'' he answered in the slow, gravelly voice that perhaps deliberately belied his extensive education. He then showed his famous teeth, saying he was prepared to wait for years for more money.

''Maybe now we should sit back a while and see how they like bankruptcy,'' he told Fortune. Texaco was indeed forced to seek bankruptcy protection.

When he finally got the $3 billion that he considered adequate from Texaco, Mr. Liedtke celebrated with a double cheeseburger and two bottles of beer at a Houston hamburger emporium he favored.

John Hugh Liedtke was born on Feb. 10, 1922, in Tulsa, where his father was a lawyer for the Gulf Oil Corporation. He majored in philosophy and won departmental honors at Amherst College. His thesis was titled ''Religion and the Limits of Knowledge in the Philosophies of Hume, Santayana and Dewey,'' according to the book ''Oil and Honor: The Texaco-Pennzoil Wars'' by Thomas Petzinger Jr. (Beard Books, 1999).

 

 
 
 
 
 
 
 
 
 
 
 
 
 
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Sami Joseph

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show details Nov 18 (11 days ago)
Hi Michael

Issa Nakhleh passed away on March 29, 2003. He was a Palestinian from a village on the outskirts of Bethlehem.

Best

Sami


From: Michael <RePorterNoteBook@Gmail.com>
To: reportersnotebook <RePortersNoteBook@yahoogroups.com>
Sent: Thu, 18 November, 2010 6:07:28
Subject: Benjamin H. Freedman

  
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show details Nov 18 (11 days ago)
Is anyone out there aware of where Ben Freedman's son is now so that we might inquire as to what happened to his archives. In the Willard hotel speech once I believe he mentioned that he had 'a lot' of written archives to support his positions.
 
I have never seen a shred of these. I had talked to Dr. Robert John in New York City once, before he died, and he told me that Freedman's son had been in investment banking on Long Island and if I remember right, that Ben had been living with him his last few years. And Dr. John only mentioned one son.
 
So he probably got all of his father's stuff. But being an investment banker in the NY area I would suspect he was very low key about what he might have had. He might even have destroyed his father's stuff. But either way I sure wish we could make family contact some how to find out for sure. He must have had some wonderful stuff.
 
Was surprised to hear about this verbal contract being ignored by the courts as there is a long history of them being backed up. Of course you need an honest judge who has not been bought off. This court basically ruled that Freedman was just donating his time to this big corporation.
 
Jim Dean
Heritage TV...Atlanta


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Michael Santomauro
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“I’ll never forgive the Bush administration” for “destroying the last vestige of fiscal responsibility that we had in the Republican Party.”

 

 

Stockman: Bush Administration and Paulson Destroyed Last Vestige of Fiscal Responsibility We Had in the Republican Party

As William Cohen noted, David Stockman continues to make the rounds after bucking with the Republicans on tax cuts for the rich last summer.

A Republican for Higher Taxes:

David Stockman has never been one to shy away from a roaring economic-policy debate. The former boy-wonder budget director in the first Reagan administration and the architect of Reagan's supply-side economic policies, Stockman has been very busy lately rejecting the tax-cutting recommendations of Republicans in Washington and arguing that we must get our fiscal house in order or watch our way of life continue its decline. As an "imperialist power," he says, America is in danger of being at "sundown." Stockman, who turned 64 on Wednesday, has always been ahead of the curve on tax and fiscal issues, and it appears that he is ahead of it again this time, too. Read on...

Stockman continued his media appearances with CNN's Fareed Zakaria and went after the GOP for their single minded devotion to tax cuts.

Reagan Budget Director: GOP Has Abandoned Fiscal Responsibility By Adopting 'Theology' Of Tax Cuts:

As Congress prepares to take up extension of the Bush tax cuts during its lame duck session, Republican lawmakers have been unanimous in demanding that the cuts for the richest two percent of Americans be extended, claiming they are necessary for economic growth and that tax cuts (miraculously) pay for themselves.

While independent economists have shown these arguments to be false, today on CNN's Fareed Zakaria GPS, President Reagan's former budget director took on his own party for pushing this faulty logic. David Stockman, who led the all-important Office of Management and Budget under Reagan and was a chief architect of his fiscal policy, criticized today's GOP for misreading Reagan's legacy by adopting a "theology" of tax cuts. Stockman has spoken out before, but took perhaps his strongest stance yet against his own party today, saying "I'll never forgive the Bush administration" for "destroying the last vestige of fiscal responsibility that we had in the Republican Party."

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new article by petras - cutting the deficit - see attached - [1 Attachment]

 
[Attachment(s) from James Petras included below]

new article by petras - cutting the deficit - see attached - please confirm receipt of attached article - jpetras

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Could shut down alternative health websites, all sites with word FACE except FACEBOOK, etc.


Begin forwarded message:

From: Andy <boricua78520@att.net>
Date: November 28, 2010 1:10:48 PM EST


Strange they haven't blocked WIKILEAKS! Is it because it leaks pro-zionist propaganda?

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From: alex james [mailto:alexjamesnews3@gmail.com]
Sent: Friday, November 26, 2010 7:00 PM
Subject: TTS Nov 26: New Videos on banking system fraud...Positive Money's Submission to the Banking Commission for a banking system that doesn't cost us trillions to run and billions to rescue

 

http://groups.google.com/groups/img/dot_clear.gifNew Videos on banking system fraud & Other News...Positive Money's Submission to the Banking Commission for a banking system that doesn't cost us trillions to run and billions to rescue 

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Documentary: 9/11 The Birth of Treason 

 

 

 

 

 

 

From: alex james [mailto:alexjamesnews3@gmail.com]
Sent: Thursday, November 25, 2010 10:26 PM
Subject: TTS Nov 25: Must Watch 9/11 Truth Videos: FLIR Infrared Camera proves NIST and 9/11 Commission Lied: Multitude of Coincidences means inside job

 

Must Watch 9/11 Truth Videos: FLIR Infrared Camera proves NIST and 9 11 Commission Lied: Multitude of Coincidences means inside job 

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Eric Encina trying for Social Credit Money Reform in Manila 

"rBGH free": The Label All Milk Drinkers Should Look Out For (Unless You Like Cancer) 

Do you have the write stuff to stop federal groping? 500,000 TSA protest letters on their way: Join the party! End airport abuse! 

Oil cartels sponsored Prohibition until US automakers had tooled engines for petroleum based fuels 

MarketWatch: Sex and The Frequent Flyer (sex by naked scanners): government will grope you, or unwanted radiation will kill you? 

Cruise ship was disabled same time that Missile was fired off California coast! Was that missile an EMP weapon?