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About The Battalion. (College Station, Tex.) 1893-current | View Entire Issue (Oct. 20, 1983)
Page 6/The Batta I ion/Thursday, October 20,1983 Group ‘bets’ on Gulf Warped by Scott McCu] United Press International largest oil company. BIRMINGHAM, Ala.—John Harbert III, chairman of Har- bert International construction company, says his move to ac quire $100 million, about 1 per cent, of Gulf Oil stock is like being among spectators at a horse race. “We’ve known Pickens for some years and respect his abil ity. He’s a good source of tech nical information and a very fine brain. He’s a mover. That’s why I like him. We’re compatible,” said Harbert. “Everybody’s betting on what they think is a winner,” Harbert said. He is group led by T. Boone Pickens Jr., president of Mesa Pet roleum Co. of Amarillo, that already has spent $630 million and plans to spend $1.1 billion to buy stock in the nation’s fifth Harbert, 62, said “we’re too busy running our own affairs” to worry about gaining a voice of Gulfs board of directors with the stock buys. “We’ve been interested in oil stocks and I think Gulf if an ex cellent investment,” Harbert said. “I think you could pick and find fault with all the oil com panies.” Analysts have speculated Mesa, once it has about 15 per cent of the Gulf stock, will seek to reorganize the oil company and create royalty trusts. Such trusts are created to give shareholders direct interests in oil and gas reserves. Gulf execu tives say such trusts won’t in crease the value of company stock, one of the stated goals of Mesa. “There’s nothing novel about this,” Harbert said. “There are many royalty trusts. But I’m not saying any of this is going to hap pen or not going to happen. I don’t know.” There is also speculation that Mesa is attempting to force Gulf to buy back its stock at a much higher price. “I wouldn’t think so, but I wouldn’t know,” said Harbert. THIS IS PAUL STORrA WITH THE LAST WRPD INVESTIGATIVE REPORT ON THE TV CELEBRITIES NOW WORKING AS SLAVES ON THE COFFEE PLANTATION OF JUNN VALDEZ., HERE IN THE /AOUNTAINS OF COLOMBIA. HERE CELEBRITIES LIKE MRS. OLSEN, ROSIE THE PAPER TOWEL LADY, MADGE THE MANICURIST, ROBERT YOUNG AND MR WHIPPLE SWEAT AND STRAIN,CARRYING HEAVY CHAINS AND HEAVY BAS KETS OF COFFEE BEANS,DOOMED TO AN EXISTANCE OF FORCED .AND DUE TO MY JOURNALISTIC RESPONSIBILITIES OF IMPARTI ALITY, I CANNOT INTERFERE. v HMM... Bell rate system proposed United Press International AUSTIN — The Texas Gon- sumers Union Wednesday proposed a three-tier rate struc- £ "S C- R , . -ljjl ^ JOr \ w east n st. warehouse ST. 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SEND TO: Northwestern College of Chiropractic, Admissions Office, 2501 West 84th Street, Bloomington, Minnesota 55431 • (612) 888-4777 ture for residential customers of Southwestern Bell Telephone Co. who are facing a possible doubling or tripling of their rates. In advance of the opening of hearings Monday on Southwest ern BeH’s $ 1.7 billion rate case, a coalition of opponents to the rate hike filed a position paper with the Public Utility Commis sion. Under the plan proposed by the Consumers Union, the League of Latin American Citizens and the Texas Associa tion of Community Organiza tions for Reform Now, low in come people could opt for a “lifeline” rate that would pro vide 60 calls per month for $2.50. The plan also calls for a “basic” rate similar to what Southwestern Bell now offers and a “luxury" rate for people who desire such extras a custom calling, call waiting and call for warding. Consumers Union director Carol Barger said the luxury rate would be a “a higher rate that would help reflect that peo ple who use that would have more enhanced service." Barger said her organization has not recommended any spe cific rates in the Southwestern Bell case because it lacks the re sources and expert witnesses. Bell’s original proposal would triple the price of the av erage monthly residential bill, which is now about $10 in Texas. “If you don't take it apart and look at the big picture, then we (the residential cus tomers) are going to end up paying.” Dr. Su Telephone & Barger said trail methods of analyzing Btll case are no good because■J complexity of the dives issue. “If you don’t tal look at the big picture,! (residential customeril going to end up pawl said. “You need toloohiif picture and you see I simply do not supponl they’re doing.” Barger noted Bell's proposal, 81 pent the rate hike would falj sidential subscribers. Role ft ay at 4 Frida' ssay on any C( Ruined T homas Gotte tnolecula nd gene fansfer istry. Folios .aborato pplied iencourap Work Barger said she disagreed with the PUC staff recommen dation which said Southwestern Bell is entitled to a more than $900 million increase upon di vestiture Jan. 1 from American Other recommend;:./ the coalition included: •A reduction in sent: nection charges. • The charging of tin contributions to stodW: stead of ratepayers. •A disallowance of it assistance charges. •A rollback in cow t^exas A charges from a quarten cents. Gas subsidiary splits from paren t com party The e : Pays Ofi ^ponsore aturday rroups,; >r indivi Setnir rofessic eases, d< irticipa |)wn wor ai the en 1:30 p.n The ' United Press International AMARILLO — Energas Go., a natural gas utility and former subsidiary of Pioneer Corp., has been chartered by state officials as an independent corporation, offit CLEARANCE VIDEO PERSONAL CAR Pioneer officials announced. “Energas is going to be a financially strong company with a strong set of officers,” Joseph Maples, vice president of Pioneer’s investor relations, said in announcing the change Tuesday. He said the divestiture stem med from the differing needs of investors. Pioneer is engaged in oil and gas exploration opera tions among other energy- related projects while Energas is a utility company. Pioneer has with operations in 18 states, Maples said. Ener gas serves 280,000 customers in 88 West Texas communities. Both companies have headquar ters in Amarillo. C.D. Culver, president and chief executive officer of Pioneer, wrote Pioneer stock holders a letter saying the separ ation between Pioneer and NEC 737 SALE CABLE READY Reg. 750.00 599°° AKAI VC-XIU AUTO FOCUS Reg. 1400.00 595°° rgantza ard a g For in Visiti Tom Energas was neededlop companies more flexibfc Charles K. Vaughn, fr; president for two years, ooard chairman and pr of the new Energas Co.,fn officials said. Vaughnwas; town and not available ton menl. Pioneer officials said transferred all gas distA properties and asseisofta to the new companyinexd ? for shares of Energas cw ^ tex > w stock. , 1 Judith Kerr,vicepresiilf corporate communicate Pioneer, said Energas' employ about 900 peoplt of whom have beenenft jT; m ® n of the former subsidian 1 s Ul Financial reports Pioneer indicated the tied gas Co. would haveassetsi out $97 million and exp«i venues of more than lion for this year. isiting human labor rel The 1 or Exet To subn ffice ir AKAIPMRI 99°° AM, FM, Auto-Reverse Reg. iso.oo SONY FM 7 69°° Top Of Line Reg. 150.00 SONY SRF-70W 50°° AM, FM Stereo Reg. 110.00 SONY CAR 20to40%OFF ENTIRE STOCK ALPINE 7124 Auto-Reverse Reg. 230.00 TV fsONY TV 415 SALE AC-DC B&W Reg. 200.00 139°° SONY KV 1547 RS 15” Color Remote Reg. 700.00 499°° NEC 19” Monitor Only Reg. 650.00 399°° STEREO SYSTEM RECEIVERS & AMPS Yamaha System 70 Reg. 2350.00 65 Watt Integrated Digital Tuner Auto Turntable SALE Full Logic Cassette 12” Three-Way 1 450°° Walnut Cabinet JVC RX-80 70 Watt Receiver Reg. 600.00 399°° YAMAHA R-2000 150 Watt Receiver Reg. 900.00 699°° LUXMAN L-480 70 Watt Integrated Reg. soo.oo 349°° CASSETTE DECK TURN TABLES NAKAMICHI 700 ZXL THE BEST Reg. 3000.00 1500°° JVC KDD20 SOFT TOUCHReg. 220.00 149°° LUXMAN K113 179°° VERY NICE Reg. 300.00 ADS SPEAKERS ENTIRE STOCK 20 TO 30% OFF DCM MACROPHONE Reg. 480.00 INCREDIBLE SMALL SPEAKER 298°° B&O 2404 SALE Fully Auto Reg. 330.00 249°° LUX PD-289 Fully Auto Reg. 400.00 199°° AUWOOT® CASH orCHECK PRICES 707 TEXAS AVE 696-5719 Limited Quantities CHEAP BEER SPECIALS lied-WHITE & Blue s 6 pk. $ l .62 VHEN: /HERE: pBigf BLACK LABEL £1.62 a si* /HY: 5 Jampii pu wit lake-i SCHAEFER Drop i. £1.62 six wm M e i s t e r Ifirutu $1-99 a six Prices good thru Oct. & 3611 S. College 846 imgaiaiiiii I'nc nd 0 if 10% studi