On April 4, 2002, Florida Governor Jeb Bush signed house bill 715 into law, which requires local governments to pay just compensation to billboard owners when they require the removal of billboards within their jurisdictions. The Governor stated, “The taking, whether direct or indirect, of private property is serious business. It should require extraordinary effort
Vic Root has been involved in billboard acquisition for more than 50 years. After working with an international public accounting firm in the 1950s, he went to work for Naegele Advertising in Minneapolis and has been deeply involved in the industry ever since. His work for Naegele consisted mainly of purchases and sales of outdoor
Billboards Continue To Be Taxed As Personal Property The Arizona Court of Appeals handed down a decision on March 7, 2001 that throws out a test used by American courts for 150 years to distinguish personal property from fixtures. Known as the Teaff test from a case in 1853, case law since that time has
Spending on outdoor advertising did not fall nearly as much as spending on other forms of media during 2001. The outdoor segment reported revenue was down 0.8% for the year while overall ad spending dropped 9.8%. Most analysts attribute the industry-wide decline to general economic weakness compounded by the shock of the terrorist attacks on
Most people understand what is meant by the word “billboard”: a wood or metal structure with an advertising message on the face or faces, usually located next to a roadway. In the last several years two new terms in this industry have become popular, but they are less well understood. These terms are “outdoor” and
Lamar Advertising Company announced on February 13, 2002 that revenue was up 6% for 2001 to a record level of $729.1 million. Operating earnings for the same period declined by 2% as fewer advertisers were in the market due to the recession. The results are viewed favorably by management, given the weak economy and the
California passed State Outdoor Advertising Act SB 919 in August 2001, which requires billboard developers to obtain local permits before erecting signs on property such as that of the Metropolitan Transit Authority (MTA). The law became effective January 1, 2002. STI/Outdoor LLC, a subsidiary of Viacom (Outdoor Systems), had an agreement to erect billboards and
June – October 2000 The Federal Highway Administration’s Office of Real Estate Services sponsored a survey coordinated by the National Alliance of Highway Beautification Agencies and conducted by Jack Faucett Associates, Inc. (JFA) of Bethesda, Maryland. The national survey was sent to 47 states and the District of Columbia to determine the types of outdoor
From Outdoor Outlook, January 7, 2002 (The Outdoor Advertising Association of America). The Georgia Supreme Court has issued an opinion upholding the constitutionality of Georgia’s vegetation control law. The Georgia statute permits the trimming of trees and other vegetation growing on state highway rights-of-way that obscure outdoor advertising signs. In the decision in Garden Club
