The Battalion. (College Station, Tex.) 1893-current, May 01, 1985, Image 14

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Page 14/The BattalionAVednesday, May 1, 1985
Warped
by Scott McCulla
Broadcasters give air time
to help stop drunk driving |
Associated Press
AUSTIN — Texas broadcasters
and Mothers Against Drunk Driving
joined Gov. Mark White Tuesday to
begin a $13 million campaign aimed
at reducing the number of alcohol-
related traffic accidents and deaths.
Don Chaney of Tyler, president
of the Texas Association of Broad
casters, said 120 radio stations, 50
television stations and the Texas
LOS ANGELES — Oilman T.
Boone Pickens Jr. has encountered a
tough adversary in Unocal Corp.
Chairman Fred L. Hartley, d private
man who went public with his dis
gust at takeover artists like Pickens.
Pickens announced on Valentine’s
Day that he was accumulating Uno
cal stock, but financial analysts said
there would be no love lost between
the two men. Both sides are battling
for shareholder support.
Hartley has made no attempt to
conceal his disdain for “corporate
raiders” like Pickens, chairman of
Mesa Petroleum Co. of Amarillo and
head of an investor group called
Mesa Partners II.
Mesa Partners is the vehicle Pick
ens has used to attack five large en
ergy companies in the past few years
— Cities Service Co., Superior Oil
Co., Gulf Corp., Phillips Petroleum
Co. and Unocal.
Pickens, who portrays himself as a
defender of shareholders, is some
one who attacks only what he de
scribes as entrenched management
that has let stock become underva
lued and done nothing to correct it.
Hartley sees it differently. “When
you have a short-term mind, and a
small one at that, you can’t see very
State Network will air public service
announcements beginning in mid-
May and continuing through Labor
Day.
The broadcasters will give about
$13 million worth of air time for the
ads.
“In mid-May these announce
ments will emphasize the impor
tance of alcohol-free school cele
brations,” Chaney said.
far,” he said of takeover artists and
those who finance them.
Unocal already had some anti
takeover measures (referred to in
the financial community as “shark
repellant”) requiring a 75 percent
shareholder vote to approve a take
over and setting up staggered board
elections.
It has since added more safe
guards — limiting the ability of hos
tile shareholders to nominate direc
tors and raise issues for a vote.
Pickens, whose group owns 13.6
f >ercent of Unocal, responded by of-
ering to pay $54 per share, or a to
tal of $3.46 billion, to increase that
stake to 50.1 percent.
At the time, Unocal stock was
about $46 per share, up from the
$35 per share it was attracting when
Pickens began buying up the stock in
October.
Hartley responded to the Pickens
group’s Feb. 14 announcement with
an offer by Unocal to repurchase 50
million of its shares in exchange for
high-quality notes worth $72 per
share. The ploy apparently worked.
Although the Pickens group has
not said how many shares nave been
tendered to its cash offer, it is be
lieved to have fallen short.
During late May the broader
will warn against drinking wij
driving and during June to mid-Ati
gust broadcasts will stress drinkini
in moderation during family «
ings.
State Director for MADD
rinelle Timmons said, “MADD see;
public awareness as the key to red.;':
ing the deaths and injuries on ouii
highways.”
Anti-pom group;
protests Austin
ploy opening
Associated Press
AUSTIN — An anti-pornogra
phy group has turned its atten
tion to “Let My People Come,” a
play with full nudity.
Citizens Against Pornography
picketed the Ritz Theater during
Monday night’s opening perfor
mance.
“The advertisement says,
‘Good, clean, dirty fun,’ ” said
Mark Weaver, leader of the
group. “What’s good and dean
about dirt? If we continue to tol- ;
erate sexual material and perfor
mances, and we don’t draw the
line, it’s going to get worse and
worse.”
Philip Roger Roy, the play's
producer, said the play is not por
nographic. “There is nothing
dirty or erotic in the show,” he
said. The protesters are "people
who are prejudging a show they
know nothing about.”
Although cast members do not
perform or simulate sex acts on |
stage, they do touch each other,,
Roy said.
“They don’t even kiss,” he said.
Pickens’ takeover bid
stifled by adversary
Associated Press
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