19 Sep 1999
Page 29
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Newspaper
Hammond Sunday Star
Location
Hammond, Louisiana, United States of America
Date
Sep 19, 1999
Page
29
Lamar Advertising Co. has completed the 1.9 billion dollar purchase of AMFM Inc. billboards, receiving 42 700 billboards and in return AMFM gets 30 percent of Lamar common stock. Lamar plans to sell 30 million dollars worth of billboards to win antitrust approval for Chancellor Media’s 2.6 billion outdoor deal with Lamar. Most sales go to PNE Media LLC with remaining to Williamson Outdoor MC Outdoor and MC Outdoor II.
Houston AP reports signs of recovery in oil well services with Nabors Industries and Key Energy Services hiring as demand picks up. Baker Hughes warns third quarter earnings will miss analysts' expectations, while Halliburton expects savings from acquiring Dresser Industries. Insiders at Texas energy firms have sold about 1.6 million shares since July amid the runup. Nabors has hired 1,250 since April and plans 1,000 more as rig utilization climbs from 30 to 33 percent.
Brown promoted to assistant vice president at Peoples Bank of Louisiana Hammond branch. President Russell Conger credits Brown for essential growth and helping locals and small businesses obtain needed funds at competitive rates. Brown has been with the bank since it began operations in Hammond.
The Amite Nursing Home held a Medicare Medicaid Physicians Education course for local doctors, nurses, and health care professionals. Speakers included Stan Mageleby from Tutera Group, Connie Bushnell of Amite Nursing Home, Angie Macall from Tutera Group, and Bruce Stelzer of Tutera Group.
U S Circuit Judge Robert G Kendall rules Jitney Jungle must pay about 13 6 million to 78 Delchamps stockholders next week plus interest to total around 16 million He sets stock value at not less than 20 per share for 680 000 shares while awaiting final valuation The Mobile case stemmed from Jitney Jungle's 1997 216 billion Delchamps buy and a 30 per share payout to most holders with 56 sought by holdouts and 20 offered by the defendant
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