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DewDiligence

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DewDiligence

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Re: zipjet post# 132280

Saturday, 02/11/2012 3:54:59 PM

Saturday, February 11, 2012 3:54:59 PM

Post# of 257295
[Semi-OT]—Texaco was able to settle with Pennzoil for “only” $3B (about 30 cents on the dollar including punitive damages) because Texaco filed for bankruptcy prior to requesting an appeal. The bankruptcy filing was necessitated by Texaco’s having insufficient net assets (prior to the filing) to post the bond for the appeal.

“The efficient-market hypothesis may be
the foremost piece of B.S. ever promulgated
in any area of human knowledge!”

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