Archives for December 2008

Local Pilgrim Bank Texas officials have been busy this week allaying customers’ concerns following the bankruptcy filing of the bank’s corporate namesake – Pilgrim’s Pride Corporation.

“Pilgrim Bank and Pilgrim Bank Texas are not owned or operated by Pilgrim’s Pride Corporation nor any of its affiliates,” said the banks’ regional president Dana Bell.

The banks, which have offices in Clarendon, Wellington, Pittsburg, Mt. Pleasant, and Sulfur Springs, are owned by a holding company, which in turn is owned by Bo Pilgrim, who was the founder of Pilgrim’s Pride.

“The banks are strong,” Bell said. “Now the chicken company has problems. No doubt about it.”

Pilgrim’s Pride filed for Chapter 11 bankruptcy last Monday, December 1, according to the company’s website.

Time magazine reported last week that Pilgrim’s Pride has been hurt by a large debt load and “volatile feed prices.” The article said the poultry company had “$3.75 billion in assets and $2.72 billion in debts” as of September 27 and that part of its debt load was caused by the $1.3 billion purchase of rival Gold Kist, Inc. last year.

Bell said the Pilgrim Banks have not and do not lend any money to Pilgrim’s Pride and will not be directly affected by the bankruptcy filing. The banks are also not used as collateral for the Pilgrim Pride Corporation.

“The banks have a combined average assets of $306,356,000 and combined equity of $32,341,000 as of November 30, 2008,” he said.

Bell also said the Pilgrim Banks have high ratings from the regulators and auditors and are not subject to any formal criticism from the auditors.

“In fact, the banks have been approved for a new acquisition,” Bell said, “and we plan on being here and serving our customers and our communities for a long time to come.”

The Clarendon Board of Aldermen accepted the resignation of Mayor Mark White during last Tuesday’s city meeting.

White was elected to the position of Donley County Commissioner for Precinct 1 on November 4 and will begin his new duties in that office next month.

Mayor Pro-Tem Chris Ford immediately assumed the duties of the city’s chief executive; and, as the Enterprise went to press Tuesday, it was expected that the Board of Aldermen would name him as the city’s 36th mayor.

White had served as mayor since May 2006 when he was appointed to that position after the retirement of Mayor Tex Selvidge. White was elected to a full term in office the following May.

The appointment of an alderman to fill Ford’s seat on the board and the election of a new mayor pro-tem were also items up for consideration Tuesday night and will be reported next week.

In other city business last week, the Board of Aldermen engaged in a spirited discussion about utility rates under Ordinance 385.

Aldermen Tommy Hill and Ann Huey objected to raising the base rate for water while lowering the minimum water usage from 5,000 to 2,000 gallons. The board tabled the matter, and that also was to be discussed this week.

Aldermen reviewed a proposed new logo for the city as presented by City Administrator John Webb. The logo in blue and white will incorporate the five-pointed star from the city seal along with the words “City of Clarendon.”

The board approved a resolution authorizing OJD Engineering to do the work on a new water standpipe to replace the aging water tower on the west side of town.

Aldermen also discussed a proposal to do away with testing the city’s emergency siren at noon every day but ultimately decided to keep blowing the noon whistle.

When you’re packing the car for your annual Thanksgiving trip, be sure to pack your patience and drive safely by obeying all traffic laws.

“We want you to get to your destination safely,” said Col. Stan Clark, interim director of the DPS.

“Be patient. There will be a lot of other families traveling, and traffic is likely to be congested. Leave yourself plenty of time to get where you’re going, and drive friendly. Slow down, buckle up, and drive sober.”

Many travelers are expected to hit the road for Thanksgiving, so all available DPS troopers will be patrolling looking for speeders, drunk drivers, and those not properly secured by safety restraints.

During the Wednesday through Sunday Thanksgiving period last year, DPS troopers wrote 10,426 citations for speeding and made 400 arrests for driving while intoxicated. They also arrested 34 minors for driving under the influence of alcohol. They wrote 1,026 citations for seatbelt violations and 358 for child restraint violations.

DPS has a no-warnings policy for seat belt and child restraint violations. Troopers are participating in Operation CARE – Combined Accident Reduction Effort – a nationwide effort by police agencies to reduce fatalities on major interstate highways during holiday weekends.

DPS expects a large number of travelers on the road and encourages drivers to leave themselves plenty of time to get where they’re going. Avoid bad driving habits that lead to road rage, such as: Not using turning signals; Driving in the passing lane; Tailgating, flashing lights, or honking; Using high beams in traffic; and Not allowing adequate time for a given trip.

When confronted with aggressive drivers, the DPS recommends that you: Put your pride in the back seat and move aside; Do not speed up, block lanes, slam, or tap on brakes; Report extreme cases of reckless driving to the appropriate authorities when the incident occurs; and Make sure everyone is buckled up.