So a Texan and a New York Jew walk into a bar. ... Sounds like the start of a joke, but in fact it is a true story about an encounter between dealmaker Carl Icahn and attorney Joe Jamail, who is representing Clear Channel Communications Inc. in its suit against the banks that bailed on its leveraged buyout.
The two men were both involved in the infamous Texaco bankruptcy case of the mid-1980s. Icahn was a Texaco shareholder, and Jamail was the attorney who won an $11 billion verdict for Pennzoil in a tortious interference suit against Texaco, which had purchased Getty Oil even though Pennzoil had tabled a deal. Icahn helped negotiate a settlement where Texaco paid Pennzoil $3 billion.
Below is Icahn's comedic recount of his meeting with Jamail. Like the last Jamail video, which highlighted his unique Texas-style deposition, it features some profanities. - Matthew Wurtzel
By Chelsea A. Grayson and Mary C. Warner, Jones Day
Terms and structures now used to get deals done are post-closing purchase price payments, earnouts, simultaneous acquisitions, rollups, payments in kind and joint ventures.
So a Texan and a New York Jew walk into a bar. ... Sounds like the start of a joke, but in fact it is a true story about an encounter between dealmaker Carl Icahn and attorney Joe Jamail, who is representing Clear Channel Communications Inc. in its suit against the banks that bailed on its leveraged buyout. 
