Baine Kerr
Encyclopedia
Baine Perkins Kerr was a prominent Houston
lawyer
who was a partner in the law firm of Baker and Botts, where he managed the corporate law department, before he joined Pennzoil
.
, and graduated from the University of Texas at Austin
. He married Mildred C. Kerr in 1942, with whom he would raise four children, Baine P. Kerr, Jr., John Caldwell Kerr, James Robinson Kerr, and Mary Kerr Winters.
In the 1980s he served on the "Energy Engineering Board" of the National Research Council
.
In 1989 he was paid a $10 million bonus for his work on a lawsuit for Pennzoil that resulted in a $3 billion settlement from Texaco
.
and his wife, Barbara, whom they used to live down the street from. According to a Washington Post article by Walter Pincus
and Bob Woodward
entitled Doing Well with Help from Family, Friends, (August 11, 1988) when Bush was running against Lloyd Bentsen
for senator in 1970, Kerr advised Bush on a proposed business deal involving a loan request from a man named Victor Flaherty, who needed money to buy Fidelity Printing Company. Kerr recommended that Bush make the loan, but that he also demand some stock in Fidelity Printing as part of the deal. When Fidelity Printing was sold, Bush cashed in his stock for $99,600 in profit, a gain of 1,900 percent on his original investment. When Mr. Bush became president he named his presidential yacht "Fidelity" because of this business deal.
Houston, Texas
Houston is the fourth-largest city in the United States, and the largest city in the state of Texas. According to the 2010 U.S. Census, the city had a population of 2.1 million people within an area of . Houston is the seat of Harris County and the economic center of , which is the ...
lawyer
Lawyer
A lawyer, according to Black's Law Dictionary, is "a person learned in the law; as an attorney, counsel or solicitor; a person who is practicing law." Law is the system of rules of conduct established by the sovereign government of a society to correct wrongs, maintain the stability of political...
who was a partner in the law firm of Baker and Botts, where he managed the corporate law department, before he joined Pennzoil
Pennzoil
Pennzoil is an American oil company founded in Los Angeles, California in 1913. In 1955, it was acquired by Oil City, Pennsylvania company South Penn Oil, a former branch of Standard Oil. In 1963, South Penn Oil merged with Zapata Petroleum; the merged company took the Pennzoil name. During the...
.
Career
Kerr was president of Pennzoil and on the board of directors from 1964 to 1994. He served in World War IIWorld War II
World War II, or the Second World War , was a global conflict lasting from 1939 to 1945, involving most of the world's nations—including all of the great powers—eventually forming two opposing military alliances: the Allies and the Axis...
, and graduated from the University of Texas at Austin
University of Texas at Austin
The University of Texas at Austin is a state research university located in Austin, Texas, USA, and is the flagship institution of the The University of Texas System. Founded in 1883, its campus is located approximately from the Texas State Capitol in Austin...
. He married Mildred C. Kerr in 1942, with whom he would raise four children, Baine P. Kerr, Jr., John Caldwell Kerr, James Robinson Kerr, and Mary Kerr Winters.
In the 1980s he served on the "Energy Engineering Board" of the National Research Council
United States National Research Council
The National Research Council of the USA is the working arm of the United States National Academies, carrying out most of the studies done in their names.The National Academies include:* National Academy of Sciences...
.
In 1989 he was paid a $10 million bonus for his work on a lawsuit for Pennzoil that resulted in a $3 billion settlement from Texaco
Texaco
Texaco is the name of an American oil retail brand. Its flagship product is its fuel "Texaco with Techron". It also owns the Havoline motor oil brand....
.
Friendship with George Bush
Kerr and his family are longtime friends of George H. W. BushGeorge H. W. Bush
George Herbert Walker Bush is an American politician who served as the 41st President of the United States . He had previously served as the 43rd Vice President of the United States , a congressman, an ambassador, and Director of Central Intelligence.Bush was born in Milton, Massachusetts, to...
and his wife, Barbara, whom they used to live down the street from. According to a Washington Post article by Walter Pincus
Walter Pincus
Walter Haskell Pincus is a national security journalist for The Washington Post. He has won several prizes including a Polk Award in 1977, a television Emmy in 1981, the 2002 Pulitzer Prize for National Reporting in association with other Washington Post reporters, and the 2010 Arthur Ross Media...
and Bob Woodward
Bob Woodward
Robert Upshur Woodward is an American investigative journalist and non-fiction author. He has worked for The Washington Post since 1971 as a reporter, and is currently an associate editor of the Post....
entitled Doing Well with Help from Family, Friends, (August 11, 1988) when Bush was running against Lloyd Bentsen
Lloyd Bentsen
Lloyd Millard Bentsen, Jr. was a four-term United States senator from Texas and the Democratic Party nominee for Vice President in 1988 on the Michael Dukakis ticket. He also served in the House of Representatives from 1949 to 1955. In his later political life, he was Chairman of the Senate...
for senator in 1970, Kerr advised Bush on a proposed business deal involving a loan request from a man named Victor Flaherty, who needed money to buy Fidelity Printing Company. Kerr recommended that Bush make the loan, but that he also demand some stock in Fidelity Printing as part of the deal. When Fidelity Printing was sold, Bush cashed in his stock for $99,600 in profit, a gain of 1,900 percent on his original investment. When Mr. Bush became president he named his presidential yacht "Fidelity" because of this business deal.