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The Taking of Getty Oil: The Full Story of the Most Spectacular - and Catastrophic - Takeover of All Time

door Steve Coll

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A larger-than-life account of family, greed, and a courtroom showdown between Big Oil rivals from the New York Times-bestselling author of Private Empire. Pulitzer Prize-winning author Steve Coll is renowned for "his ability to take complicated, significant business stories and turn them into quick-reading engaging narratives" (Chicago Tribune). Coll is at the height of his talents in this "riveting" tale of one of the most spectacular--and catastrophic--corporate takeovers of all time (Newsday).   As the head of a sprawling oil empire, J. Paul Getty was once the world's richest man. But by 1984, eight years after his death, Getty's legacy was in tatters: His children were locked in a bitter feud over the family trust and the company he founded was riven by boardroom turmoil. Then Pennzoil made an agreement with Getty's son, Gordon, to purchase Getty Oil. It was a done deal--until Texaco swooped in to claim the $10 billion prize.   What followed was an epic legal battle that pit "good ole boy" J. Hugh Liedtke of Pennzoil against the Wall Street brokers behind Texaco's offer. The scandalous details of the case would shock the business world and change the landscape of the oil industry forever.   With a large cast of colorful characters and the dramatic pacing of a novel, The Taking of Getty Oil is a "suspenseful" and "always intriguing" chronicle of one of the most fascinating chapters in American corporate history (Publishers Weekly).  … (meer)
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As a business nerd, I was drawn into this tale of personal and professional drama whose actions had profound effects on the M&A market in the late 1980's. The inner workings and high-stakes games between major stockholders, executives, investment bankers, and lawyers receiving exorbitant amounts of money for wounding and destroying companies while professing to save them, reveals the ugliness of greed and fragility of oversized egos among the elites. When the reader thinks the story cannot get more confounding or convoluted, the next chapter will open a door into the deeper mire of the events. Thankfully, the writer does an excellent job of keeping the reader on the path and despite the interwoven tales of intrigue and host of characters, I never felt lost or confused.

The more business experience and knowledge you have, the more likely you are to appreciate the nuances and complexities of what happened in the businesses and courtroom. The author does a good job of explaining some of the arcane information and technical jargon of Wall Street and Madison Avenue without making the story too simplistic for non-business experts. I think this is a great strength of the book because, beyond the narrative, a business person can learn much about what to do, and not to do, as a fiduciary, member of the board of directors, or executive. It should make one wise to the behavior and words that might reflect duplicity in others.

Beyond the book itself, the author had an excellent essay in the back of the book on the ethical use of dramatic dialogue in narrative non-fiction. He discusses his views on the proper and improper use of constructed dialogue including manipulating a reader by constructing a dialog that reflects the writer's bias. He provides great insight into the process of careful and ethical construction of non-fiction dialog that would be helpful to writers and non-fiction readers alike. ( )
  RhodesDavis | Dec 29, 2021 |
Getty Oil (Subject)
  LOM-Lausanne | May 1, 2020 |
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A larger-than-life account of family, greed, and a courtroom showdown between Big Oil rivals from the New York Times-bestselling author of Private Empire. Pulitzer Prize-winning author Steve Coll is renowned for "his ability to take complicated, significant business stories and turn them into quick-reading engaging narratives" (Chicago Tribune). Coll is at the height of his talents in this "riveting" tale of one of the most spectacular--and catastrophic--corporate takeovers of all time (Newsday).   As the head of a sprawling oil empire, J. Paul Getty was once the world's richest man. But by 1984, eight years after his death, Getty's legacy was in tatters: His children were locked in a bitter feud over the family trust and the company he founded was riven by boardroom turmoil. Then Pennzoil made an agreement with Getty's son, Gordon, to purchase Getty Oil. It was a done deal--until Texaco swooped in to claim the $10 billion prize.   What followed was an epic legal battle that pit "good ole boy" J. Hugh Liedtke of Pennzoil against the Wall Street brokers behind Texaco's offer. The scandalous details of the case would shock the business world and change the landscape of the oil industry forever.   With a large cast of colorful characters and the dramatic pacing of a novel, The Taking of Getty Oil is a "suspenseful" and "always intriguing" chronicle of one of the most fascinating chapters in American corporate history (Publishers Weekly).  

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