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Tuesday night fair and warm lows 64-78. Wednesday and Thursday expect mostly sunny, highs 96-104. Excessive heat warning is in effect for the northeast through Thursday. More weather.
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Oklahoma Business Briefs
Contract workers get jobs back at Michelin plant (5/14/09)
ARDMORE, Okla. (AP) - About 60 furloughed employees at the
Michelin tire plant in Ardmore will be returning to work at the
start of next month.
Holland Group Division Manager Pat Wise says the outsourcing
company's contract workers with Michelin will go back to work on
June 1.
Michelin had furloughed 240 of its own employees, along with 110
Holland Group workers, because of falling demand for passenger car
and light truck tires.
Eight-week furloughs for the Michelin employees ended in
January, but the tire company never guaranteed that the Holland
Group workers would be able to return to work even after the
scheduled end of their furloughs in April.
Wise says she hopes to place another 20 employees at the tire
plant before the end of the year.
Shawnee companies cutting jobs (4/28/09)
SHAWNEE, Okla. (AP) - Officials say two companies here have cut
102 jobs because of fewer business orders and lower demand.
Plant manager Ward Rehkopf says officials announced Wednesday
that 78 jobs, including some front office positions, would be cut
at Eaton. Employees who were affected were notified on Thursday.
Rehkopf cited a sluggish economy, low demand for the plant's
products and the continued struggles of large customers heavily
reliant on the building and housing markets as reasons for the
layoffs at Eaton.
George Fischer Central Plastics also announced layoffs last week
that affected 24 full-time employees.
Company president Rocky Wade says his company is strongly
connected to the housing and oil field industries and right now
they're both down.
He says the company began notifying affected employees on
Wednesday and Thursday.
Devon CEO's pay valued at $16.7 million in 2008 (4/24/09)
OKLAHOMA CITY (AP) - A calculation by The Associated Press found
Oklahoma City-based Devon Energy Chief Executive Larry Nichols' pay
package rose 5.5 percent last year to $16.7 million.
The AP used figured in a Securities and Exchange Commission
filing for the calculation.
Nichols' salary rose 17 percent to $1.4 million and his bonus
increased 15 percent to $3 million.
He also received $339,558 in "other" compensation that
includes $214,000 in company contributions to his deferred
compensation savings plan.
He also received more than $96,000 for use of the corporate jet,
more than $14,000 in life insurance premiums and nearly $14,000 in
contributions to his retirement plan.
Like other energy companies Devon took a beating in 2008 as
commodity prices and demand for energy products fell.
For the full year Devon reported a loss of $2.15 billion.
The company says its compensation program aims to reward and
retain effective leaders while adapting to unexpected industry
developments and volatility in the commodities market.
Hearing on Magna asset sale postponed (4/20/09)
WILMINGTON, Del. (AP) - A bankruptcy court hearing on the sale
of horse track owner Magna Entertainment Corp.'s assets has been
postponed for the second time.
The hearing in U.S. Bankruptcy Court in Delaware, which had been
scheduled for Monday after it was delayed earlier this month, is
now set for May 7.
Ontario-based MEC is the largest horse track owner in the United
States. Its holdings include include Remington Park in Oklahoma
City and Baltimore's Pimlico racetrack - host of the Preakness
Stakes which is the middle jewel of the Triple Crown.
4 Oklahoma energy giants make Fortune 500 (4/20/09)
NEW YORK (AP) - Four energy giants from Oklahoma earned spots on
the annual Fortune 500 list of the country's 500 largest publicly
traded companies.
At 159th on the list, Tulsa-based Oneok Inc. had the most
revenue of any Oklahoma company with over $16.1 billion. Oklahoma
City-based Devon Energy Corp. was four spots behind at No. 163,
Tulsa's Williams Cos. got the 218th spot and Oklahoma City natural
gas producer Chesapeake Energy Corp. came in at 230th.
Exxon Mobil unseated Wal-Mart Stores for the top spot.
Dallas company to buy Tulsa refinery (4/16/09)
TULSA, Okla. (AP) - The Sunoco refinery in Tulsa is being sold
to a Dallas company for $65 million dollars.
Sunoco and Holly Corp. announced the sale on their Web sites
Thursday. The agreement calls for Holly to invest in several upgrades that
company officials say are needed to ensure the long-term viability
and environmental compliance of the refinery.
The refinery in west Tulsa has about 400 employees.
Holly Corp. is an independent petroleum refiner and marketer
that produces high value light products such as gasoline, diesel
fuel and jet fuel.
The sale is expected to close by June 1.
McClendon's $75M bonus questioned by stockholders (4/8/09)
OKLAHOMA CITY (AP) - A group that holds stock in Chesapeake
Energy Corp. wants the company's board of directors to justify a
$75 million bonus awarded on New Year's Eve to Chief Executive
Officer Aubrey McClendon.
Attorneys representing the Louisiana Municipal Police Employee
Retirement system, a shareholder with 85,000 shares of stock in the
Oklahoma City-based company, have filed a books-and-record demand,
seeking to determine the reasoning behind the decision to award the
bonus.
An attorney for the group says the bonus amounts to a bailout of
McClendon after a rough year for Chesapeake's stock.
An attorney for Chesapeake says in a letter in response to a
media query that the company's board believes McClendon deserved
the bonus.
According to the Oklahoma State Courts Network Web site, the
case has been assigned to Oklahoma County District Judge Bryan
Dixon but no hearing has been scheduled.
Halliburton confirms layoffs in Duncan (4/3/09)
DUNCAN, Okla. (AP) - Houston-based Halliburton confirms it has
laid off workers in Duncan but the company isn't saying how many or
if there will be more job cuts.
Spokeswoman Diana Gabriel for the oilfield services company
confirmed the layoffs in an e-mail to The Oklahoman. Gabriel did
not respond to questions about how many jobs were cut or if more
layoffs are expected.
Duncan Chamber of Commerce president Debra Burch says
Halliburton's last update to the chamber was last June and showed
the company had about 2,600 employees in Duncan.
Burch says the company hasn't told her how many jobs were
eliminated.
More Oklahoma Business Briefs
Living Well
New radiation treatment offered (10/28/08)
OKLAHOMA CITY (AP) - The OU Medical Center is offering a new
type of radiation therapy following lumpectomy that reduces
treatment time.
OU specialists participated in a national study of electronic
breast brachytherapy, a procedure in which a tiny rod emits
radiation inside a cavity in the breast where a tumor was removed.
Dr. Carl Bogardus, a radiation oncologist with the medical
center, says treatment time can be reduced from an average of six
weeks with externally beamed radiation to five days with
brachytherapy if a patient has two treatments a day.
OU was among 10 sites to test the treatment in a clinical trial,
and now offers the procedure.
More Living Well
Going Green
New tower planned at research foundation (3/27/09)
OKLAHOMA CITY (AP) - The Oklahoma Medical Research Foundation is
planning to build an eight-story building that will include 24 wind
turbines designed like the double-helixes of DNA.
The nonprofit biomedical research institute was formally
releasing plans Friday for the 185,000-square-foot tower, which
also is to include solar panels and maximum use of natural light in
order to save electricity usage by up to one-third.
Construction is to start in May, with completion planned for
January 2011.
The tower will be directly north of the foundation's main
building in the University of Oklahoma Health Sciences Center
complex.
Oklahomans bid for jobs in France (3/16/09)
OKLAHOMA CITY (AP) - Oklahoma officials are in Marseilles,
France, trying to interest windpower companies to bring "green
collar" jobs to the state.
They are attending the 2009 European Wind Energy Conference,
which began Monday and runs through Thursday.
Oklahoma Secretary of Commerce and Tourism Natalie Shirley says
officials are positioning the state to become a hub of wind
activity, focusing production of wind generating equipment and
research.
The Oklahoma delegation includes commerce officials and
representatives of the Ardmore Development Authority, the Greater
Oklahoma City Chamber of Commerce, the Tulsa Metro Chamber of
Commerce and OG&E Electric Services.
Dell to use windpower for OKC facility (2/24/09)
OKLAHOMA CITY (AP) - Dell Inc. has announced plans to power its
240,000 square-foot Oklahoma City campus with 100 percent wind
energy.
Dell Oklahoma City's senior manager of the environment Chris
Scully says the move should reduce the facility's carbon dioxide
emissions by 5,100 tons per year.
The company announced the deal with OG&E Monday as part of a
plan to reduce its worldwide facilities' greenhouse gas emissions
by 40 percent by 2015.
OG&E officials say Dell is among the first large businesses in
the area to be powered entirely with renewable energy.
New twist for Pickens in energy independence fight (1/14/09)
WASHINGTON (AP) - Texas oilman and Oklahoma native T. Boone
Pickens is adding a new wrinkle to his push for U.S. energy
independence.
Pickens is now sending monthly updates to remind Americans how
much they're paying for foreign oil.
Pickens is spending $60 million on a high-profile campaign to
increase the use of wind power and natural gas.
He says the updates will be a yardstick for measuring the
incoming Obama administration's progress on its goal of eliminating
Middle East oil imports within a decade.
Pickens says government figures show Americans sent $19.3
billion dollars to foreign governments for oil in December.
Pickens wants to build wind turbines in the Midwest to generate
electricity to replace the 22 percent of U.S. power produced from
natural gas. The natural gas then could be used for transportation.
Group seeks Pickens' wife's help to save rangeland (12/1/08)
ALBUQUERQUE, N.M. (AP) - Conservationists are looking to the
wife of Texas oil tycoon and Oklahoma native T. Boone Pickens to
help thousands of wild horses and save rangeland in the West.
Madeleine Pickens recently announced plans to create a refuge
for wild horses. She came up with the idea after hearing that the
U.S. Bureau of Land Management was considering euthanizing some of
the animals to control the herds and protect the range.
WildEarth Guardians wants to take Pickens' plan further by
proposing a solution the group believes would resolve public land
grazing conflicts that have resulted in the horses needing a home.
WildEarth Guardians is advocating congressional legislation that
would allow ranchers who have grazing permits on federal public
land to relinquish the permits in exchange for compensation.
Pickens says lawmakers must create energy plan (11/21/08)
FORT WORTH, Texas (AP) - Dallas oilman T. Boone Pickens says
lawmakers must be held accountable if they don't keep their
promises of easing U.S. dependence on foreign oil.
The Oklahoma native today spoke to several hundred people at a
Fort Worth Chamber of Commerce event celebrating the 25th
anniversary of the Fort Worth Transportation Authority.
The authority runs one of the nation's largest fleets of natural
gas vehicles.
The businessman has been traveling the country explaining his"Pickens Plan," which aims to cut foreign oil dependence by 30
percent over the next decade.
Pickens supports putting up wind turbines to replace power
produced from natural gas.
Pickens has said plans for his giant wind farm in the Panhandle
will be delayed about one year, until 2011, because of the economy.
He says the money just isn't available for financing.
OSU a finalist for energy conservation award (11/17/08)
STILLWATER, Okla. (AP) - Oklahoma State University's energy
conservation program could win OSU a national award.
OSU has been named as one of five finalists for the Southern
Association of College and University Business Officers' Best
Practices award. OSU is a finalist in the "People-Oriented Energy
Conservation" category.
OSU officials say that since the implementation of the program,
the university is on target to reach an expected net savings of $22
million over seven years. OSU is now outpacing projected net energy
savings by 45 percent and had gross savings of $2.8 million from
January through September.
OSU officials will showcase the energy conservation program
during the group's annual meeting in April.
OSU researchers receive grants for biofuel study (11/17/08)
STILLWATER, Okla. (AP) - A group of researchers at Oklahoma
State University has received a $20 million grant to work on
converting grasses into biofuels.
The Oklahoma Experimental Program to Stimulate Competitive
Research has received a combined $20 million from the National
Science Foundation and the Oklahoma State Regents for Higher
Education.
Researchers will use the money to conduct basic research on
switchgrass, a perennial native to Oklahoma that can be converted
into biofuel.
Researchers also will be working with other plant and feedstock
varieties, like Bermuda grass. They will use the money to hire new
faculty, buy supplies and materials, and conduct an outreach
education program.
Devon receives EPA award for reducing emissions (11/17/08)
OKLAHOMA CITY (AP) - The U.S. Environmental Protection Agency
has honored Devon Energy Corp. for the company's efforts to reduce
methane emissions from its U.S. production facilities.
The EPA's Natural Gas STAR program recognized the Oklahoma
City-based company with its Continuing Excellence award. The EPA
says Devon has consistently reported reductions in methane
emissions since joining the program in 2003.
Company officials say that Devon used technology and other
innovations to prevent more than 6.4 billion cubic feet of methane
from being released into the atmosphere in 2007. That's enough
natural gas to serve more than 93,000 homes for a year.
The Natural Gas STAR program is a voluntary government-industry
partnership that encourages energy companies to adopt technologies
that improve efficiency and reduce methane emissions.
Devon has received three previous awards from the program.
More Going Green
Stretching Your $$$
GPS helps manage fuel costs (7/14/08)
VINITA, Okla. (AP) - Global positioning technology is helping
one Oklahoma law enforcement agency save money on fuel and better
protect officers' lives.
The Craig County Sheriff's Office is the first law enforcement
agency to test a vehicle Global Positioning System provided by
Tulsa-based company Progressive Technology and Innovations.
Three weeks ago, the GPS unit was installed in one of the
department's vehicles. Sheriff Jimmie Sooter said the device allows
administrators to track the route and speed the car is traveling,
and how long the vehicle has been idle or turned off.
Sooter says the device can overload him with information. He and
other staff members are still analyzing all the features to figure
out how it can benefit the department.
Tulsa-based utility seeks rate hike (7/11/08)
TULSA, Okla. (AP) - Public Service Company of Oklahoma is asking
state regulators to approve another rate increase for its
customers.
The Tulsa-based utility today asked for an increase in its base
rates of more than $132 million annually.
If approved by the Oklahoma Corporation Commission, the nearly 9
percent rate hike would add $11 to $12 to the average residential
customer's electric monthly bill starting early next year.
It would come on top of the $17.50 per month fuel cost
adjustment the utility recently instituted.
The commission has 180 days to consider the proposal.
Company leaders say they are seeking the increase to offset
recent capital investments.
PSO serves about 525,000 customers in eastern and southwestern
Oklahoma.
A Quick and Easy Way to Improve Fuel Economy (7/2/08)
OKLAHOMA CITY - AAA Oklahoma says to save gas and money, it's simple: check your tires. Properly inflated tires greatly improve your vehicle’s fuel economy.
AAA Oklahoma estimates that an Oklahoma motorist who drives an average of 12,000 miles annually on tires that are under-inflated by 5-8 PSI (pounds per square inch of air pressure) is wasting up to 50 gallons of gasoline, or $192.50 (at $3.85 a gallon). That's close to the cost of a week's worth of groceries ($226) for a family of four, according to the U.S. Dept. of Agriculture. If there are two cars in the family, that total can reach $380. "By taking five minutes each month to check your tires, you can save a lot of money and gasoline over time," said Chuck Mai, spokesman for AAA Oklahoma. "Plus, you’ll reduce vehicle emissions and increase our state’s drive toward greener living."
For a free, downloadable copy of AAA’s “Gas Watcher’s Guide,” containing more tips to help you conserve fuel, visit www.AAA.com and click on AAA News & Safety, Fuel News & Tools. Or write to AAA Tips, 722 N. Broadway, Suite 401, Oklahoma City, OK 73102.
Corporation Commission approves energy use plan (7/2/08)
OKLAHOMA CITY – The Oklahoma Corporation Commission today approved a “Quick Start” plan designed by OG&E to provide education, assistance and incentives for customers seeking to do a better job of managing the amount of electricity they use. “OG&E has established these ‘Quick Start’ Demand Side Management (DSM) programs as an initial set of user-friendly tools to serve customer needs while more permanent programs are in development,” said Gary Marchbanks, manager of DSM programs for OG&E. The Quick Start programs approved today by the Commission have produced positive results when introduced in other states. The programs will create broader awareness of the need for energy efficiency while setting the stage for future programs and initiatives.When permanent DSM rules are approved by the Commission in 2009, OG&E will file a comprehensive plan that will expand upon the Quick Start program.
More Stretching Your Dollars
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