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Friday, September 5, 1986AThe Battalion/Page 9
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Joe Bob
wins back
his name
DALLAS (AP) — John Bloom,
whose rednecked Joe Bob Briggs
persona cost him his job as the
Dallas Times Herald's drive-in
movie columnist, has settled his
suit against the newspaper, offi
cials said Thursday.
Bloom, who has continued
writing his “Joe Bob Goes To The
Drive-In” column since he re
signed last year, filed the
$900,000 suit against the newspa
per in February to obtain rights
to the Joe Bob Briggs name.
He claimed the Times Herald
and its parent company at the
time, Los Angeles-based Times
Mirror Co., had used “a series of
actions and threats” to prevent
him from writing, publishing and
speaking about the character or
the newspaper.
On Thursday, however, Bloom
spokeswoman Paula Bowen said
the newspaper had agreed to set
tle the suit out of court.
She said the Times Herald
agreed to a cash settlement that
she could not disclose and that
Bloom can now publish two books
that the suit had put on hold —
“Joe Bob Goes to the Drive-In”
and “A Guide to Western Civiliza
tion, or My Story.”
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Judge rules Hunts must file
bankruptcy cases in Dallas
federal judge
Thursday ordered the Hunt broth
ers of Texas to take steps to transfer
their bankruptcy cases from New
Orleans to Dallas.
The decision of U.S. District
Judge Barefoot Sanders, issued in a
written opinion, was a blow to the
Texas billionaires whose lawyers had
argued they should be allowed to
choose the site of their bankruptcy
cases.
Sanders ordered the Hunts to file
a motion for the transfer by noon
next Thursday.
Hunt attorney Stephen Gordon
said it would be up to the court in
New Orleans to approve the move to
Dallas. He also said the Hunts will
appeal Sanders’ order to the 5th
U.S. Circuit Court of Appeals.
Jerry P. Jones, a lead attorney for
the banks, was in a meeting Thurs
day but said he was not commenting
to the press about the judge’s order,
according to his secretary, Dyan Wil
son.
Placid Oil Co., one of its subsidia
ries and a trust of William Herbert
Hunt, filed petitions under Chapter
11 of the federal bankruptcy laws
last Friday in New Orleans.
Lawyers for the Hunts argued
Wednesday before Sanders that the
companies have a right to have their
bankruptcy petitions heard in New
Orleans, especially since Louisiana is
where most of the assets are. Gordon
said Thursday, “That’s where the
property lies and it’s very inconve
nient and difficult” to bring wit
nesses to Dallas.
But banks seeking payment of
$1.5 billion in debts from the Hunts
said the bankruptcies could be han
dled more efficiently in Dallas.
Hunt, Nelson Bunker Hunt and
Lamar Hunt own Placid, one of the
world’s largest private oil companies.
Earlier, Placid Oil sued 23 banks
because they refused to refinance
loans to the company, which alleged
a conspiracy to destroy Placid and
another Hunt company, Penrod
Drilling, one of the world’s largest
drilling companies.
Those same banks want to fore
close on millions of dollars worth of
property owned by Placid. Placid’s
bankruptcy blocked foreclosure.
In his 10-page opinion, Sanders
said that the largest unsecured cred
itors of the Hunt companies are in
Texas, while only one of the top 20
creditors is in Louisiana.
Midland bank 16th to fail in ’66
MIDLAND (AP) —Western Bank
of Midland was closed Thursday be
cause of continuing losses from en
ergy loans, becoming the I6th bank
to fail in Texas this year, officials
said.
The Federal Deposit Insurance
Corporation was named as receiver.
Officials said they would attempt
to find another bank or other finan
cial institution to take over Western’s
deposits and its $72.8 million in as
sets.
Texas Banking Commissioner
James L. Sexton said, “A concentra
tion in energy-related loans and the
bank’s liberal practices in granting
that type of credit in the early ’80s
created continuing asset, earnings
and capital problems for Western
Bank.
“A remission, of sorts, had been
experienced until the recent decline
in oil prices gave rise to substantial
further losses and a depleted capital
structure.”
FDIC spokeswoman Julie Amber-
son said that the FDIC would act
quickly to pay depositors’ insured
claims if the agency was unable to
find a buyer for the bank.
She said there have been 99 bank
failures nationwide in 1986.
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