Gulf oil clash over proxy results at two hour meeting
Gulf Oil Corp faces a high stakes proxy vote as Chairman James E. Lee and Mesa Petroleum head T Boone Pickens Jr lead rival campaigns. About 3,000 of 300,000 shareholders attend the meeting in Pittsburgh to decide management’s move to reincorporate in Delaware versus Pickens’ push for a royalty trust. Both sides claim victory potential and discuss impact on shareholder value and board control, with proxies counted in coming weeks.
MENTIONED IN THIS ARTICLE
Earl Bohn
Associated Press
Pittsburgh
Gulf Oil Corp
James E. Lee
T. Boone Pickens Jr
Gulf
Delaware
Pickens
Lee
Texan
Mesa Petroleum Co
Amarillo
Pennsylvania
Mesa
Mesa Group
Thas
Odessa Labor Picture Brightens Amid Job Gains Yet Unemployment Persists
TEC figures show Odessa placements rising to 761 in November from 565 in October with activity spread across sectors especially retail sales. Yet 1 621 residents have exhausted state benefits and shifted to federal unemployment payouts, up from 1 129, keeping about 5 000 still unemployed and raising concern that many will burn through funds before new work appears.
MENTIONED IN THIS ARTICLE
Kasko
TEC
Odessa
Texas to use state resources for drought grain aid
Texas Agriculture Commissioner Jim Hightower moves to deploy state resources to aid drought hit livestock producers. The relief targets low grade corn grades 4 and 5 at 75 percent of the government floor price, under a law proposed by Senator Lloyd Bentsen and signed by President Reagan. Revised inventory shows 27.7 million bushels available, with 10.7 million in Texas, sufficient for West Texas needs. Tensions rise as Hightower accuses federal officials of stalling while a top aide cuts off communication with his office over criticism of USDA delays.
MENTIONED IN THIS ARTICLE
Lloyd Bentsen
Department
Texas
Congress
Bentsen
Block
Texas Agriculture
Jim Hightower
Hightower
USDA
Doug Zabel
Zabel
John E. Ford
Black
Ford
FAA assigns 100 percent surveillance of Air Illinois
The FAA will monitor Air Illinois flights and maintenance around the clock after safety doubts surface amid hearings into a October crash near Pinckneyville that killed 10. Regional Director Paul Bohr ordered inspectors from across the country to oversee operations until all rules and regulations are strictly followed.
MENTIONED IN THIS ARTICLE
Carbondale, Ill
Air Illinois
FAA
Pinille
Eter Aviation Administrategional
Paul Bohr
Edelstein
Record snowfalls sweep Rockies to Northeast in ongoing blizzard
Snowstorms piling up to a record 12 feet in the Rockies over the past month continue Friday, expanding ice and snow into the urban Northeast. Forecasters warn of another major storm. Officials note January-like snow cover across northern New England, the Great Lakes, upper Midwest, Kansas, Colorado and Nevada. Nolan Duke of the government Severe Storms Forecast Center cited the widespread coverage and ongoing danger.
MENTIONED IN THIS ARTICLE
Associated Press
Rockies
New England
Great Lakes
Midwest
Kansas
Colorado
Nevada
Nolan Duke
Odessa American notices and weather and federal reports montage
A mixed Odessa American page item lists newspaper details and subscription rates, then reports on a deadly multi storm toll and federal data. It covers snowstorm fatalities, new home sales rising 8.2 percent in October, Oregon demonstrations against cruise missiles, and Fed signals on interest rates.
Weather outlook across Texas with mixed rain and sun
Partly cloudy conditions and mild temperatures dominate today with highs in the low 60s and light northeast winds. Tonight will be fair and cool with mid-30s temps. Sunday warms to upper 60s under partly cloudy skies as far West and Southwest Texas stay dry while the Panhandle may see snow overnight.
MENTIONED IN THIS ARTICLE
Far West
Texas
Panhandle
National Weather Service
Amarillo
Brownsville
Dallas- Fort Worth
San Antonio
East Texas
South
Midland Regional
Upper Big Bend
North Texas
Also Mentioned on This Page
Gulf Oil
Ps le
Illinois
Mort Edelstein
Odessa American
Fourth Street
P.O
Kansas City
Washington
Commerce Department
Department of Housing and Urban Development
Robert Ortner
Commerce
Oregon
Michigan
The
People’s Test Ban National Clearinghouse
Portland, Ore
Precision Castparts Corp
Clackamas County
New York
Federal Reserve Board
Fed
David Jones
Aubrey G. Lanston & Co
Natonal Weather Service
Zonoaa
US Dept of Commerce
Abilene
Austin
Corpus Christi
Dallas
el Paso
Houston
Longview
Lubbock
Marfa
McAllen
Presidio
San Angelo
Stephenville
Texarkana
Waco
Atlanta
Billings
Mools-St
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