KGOU

Business Intelligence Report

Wednesdays

A weekly feature produced in partnership with the Journal Record, Oklahoma's weekday newspaper and website specializing in business, legislative and legal news. Editor Ted Streuli and Journal Record reporters discuss business and economic development in the state.

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medical marijuana
David Trawin / Flickr (CC BY-SA 2.0)

Oklahomans will have many legal questions about medical marijuana, but attorneys say existing rules might make it difficult to answer them. Marijuana is illegal at the federal, and rules of professional conduct in Oklahoma prohibit attorneys from counseling or assisting clients in criminal or fraudulent conduct.

Oneok headquarters in downtown Tulsa.
File photo by Rip Stell / Journal Record

A company is asking the Oklahoma Corporation Commission to stop a driller from fracking near an underground natural gas storage facility.

SandRidge Energy held its annual shareholder meeting at 123 Robert S. Kerr Ave. in Oklahoma City.
Brent Fuchs / Journal Record

SandRidge shareholders elected four of Carl Icahn’s nominees to the company’s seven-member board of directors Tuesday, giving the activist investor a slim majority on the board. The Journal Record’s Sarah Terry-Cobo writes the company will likely be sold, but it is not clear if Icahn will first break SandRidge up into pieces.

FULL TRANSCRIPT

Jim Collard, economic development director with the Citizen Potawatomi Nation, speaks during the International Inter-tribal Trade and Investment Organization Conference at the University of Oklahoma College of Law in Norman.
Brent Fuchs / Journal Record

Before the formation of boundaries between the United States and Canada, indigenous tribes would trade freely with one another. An organization called the Inter-tribal Trade and Investment Organization, or ITTIO, is trying to restore those connections.

Attorney Jack Fite, representing Public Service Co. of Oklahoma, addresses the Oklahoma Corporation Commission.
Brent Fuchs / Journal Record

Four companies have agreed to support a proposed $4.5 billion wind power project. The Oklahoma Municipal Power Authority, Oneta Power LLC, South Central MCN and Tri-County Electric Cooperative reached an agreement with Public Service Co, or PSO, who announced the Wind Catcher project last summer. Wind Catcher could provide up to 2 gigawatts of electricity and could potentially be the largest wind farm in the country.

Mercy athletic trainer Zane Brugenhemke works on OKC Energy FC goalkeeper Cody Laurendi Tuesday in Edmond.
Emmy Verdin / Journal Record

Professional athletic trainers will be required to obtain at least a Master’s Degree in order to sit for the National Athletic Trainers Association exam. Sarah Terry-Cobo writes in the Journal Record that the new, more stringent requirements will go into place for an industry that is expanding beyond sports teams and into the world of the military and industrial workplaces.

FULL TRANSCRIPT

Students Faith Thomas, left, and A’Riyah Stepeny prepare bagels to give to students as part of a free breakfast program at Oklahoma Centennial Mid-High School in Oklahoma City Tuesday.
Brent Fuchs / Journal Record

Many students at Oklahoma Centennial Mid-High in northeast Oklahoma City often don’t eat breakfast. And when students are hungry, they don’t pay attention and their grades can suffer.

Devon Cuts $75M Deal With DowDupont

May 15, 2018
Devon Tower in downtown Oklahoma City.
Brian Hardzinski / KGOU

A commodity hedge deal between Oklahoma City-based energy company Devon and  petrochemical/agriculture giant DowDupont could be a sign of a new trend.

The Journal Record’s Sarah Terry-Cobo writes the deal will provide “low-risk cash” to Devon, and DowDupont will receive natural gas that will be used to produce plastics, chemicals and other products.

The $75 million deal will last 5 years, according to the Journal Record.

Tudor Crossing Apartments at 1346 SW 74th St. in Oklahoma City.
Brent Fuchs / Journal Record

Investors were putting money into multifamily housing complexes during the first quarter of 2018, but higher interest rates could slow future investment according to a report by the Journal Record’s Molly Fleming.

This week on the Business Intelligence Report, Fleming talks with KGOU about apartment investments, and a program at the University of Oklahoma School of Law that provides pro bono legal services to tenants who are facing eviction.

An American Eagle jet comes in for a landing in the background behind land at 9201 S. Portland Ave. in Oklahoma City, the site of a future Amazon.com fulfillment center.
Brent Fuchs / Journal Record

The Oklahoma City Airport Trust is in negotiations with Amazon to open a fulfillment center near the Will Rogers World Airport. The city is considering incentives to bring Amazon to Oklahoma City, but some city leaders are questioning whether incentives are necessary.

Workers at a site of a pipeline under construction along state Highway 75 north of Horntown.
Brent Fuchs / Journal Record

Today on the Business Intelligence Report, Journal Record senior reporter Sarah Terry-Cobo talks discusses conservation credit programs that are designed to protect the American burying beetle. She also talks about the Choctaw Nation’s recycling efforts.

The Devon Energy Center in downtown Oklahoma City.
Brent Fuchs / The Journal Record

Crude oil prices continue to rise, but Oklahoma’s oil and gas companies are not necessarily popping any corks. Sarah Terry-Cobo writes in the Journal Record that crude oil hit its highest levels in three-and-a-half years on Friday, but it is more difficult to drillers to make a profit, even though prices have been near or above $60 per barrel since January.

Trucks pass each other along a rural road just off south of Kingfisher.
Brent Fuchs / Journal Record

A bill that would change how Oklahoma oversees trucking is drawing conflict of interest questions because the legislation’s sponsor owns trucks as part of his business.

A customer enters a Citibank, Thursday, March 16, 2017 in New York.
Mark Lennihan / AP Photo

National banking giant Citibank announced on March 21 that it would require retail clients to no longer sell firearms to customers under the age of 21. The bank is also requiring clients to no longer sell bump stocks and high-capacity magazines. The bank also condemned gun violence and what the financial institution considers a lack of action by lawmakers.

The interior of the 23rd Street Armory building, 200 NE 23rd St. in Oklahoma City.
Brent Fuchs / Journal Record

Two different entities turned in three bids to describe what they plan to do with the old armory building and surrounding properties in Oklahoma City.
 

The 72,000 square foot state-owned armory sits at NE 23rd Street and Walnut, just west of the Capitol building. The Journal Record’s Molly Fleming tells KGOU the armory was built in the 1930s and was used by the National Guard until 2010.

Laboratory manager Karim Saadeddine prepares a soil sample for testing at TerraCon Consultants, 4701 N. Stiles Ave. in Oklahoma City. TerraCon holds a summer jobs program for teachers.
Brent Fuchs / Journal Record

Oklahoma’s education department is looking for companies to host teachers this summer.

Last year, a pilot program placed teachers with companies that hire people in science, math, engineering and technology, or STEM, related fields. The state is trying to expand the program this year.

Ted Kuschel and Brandon Birdwell at their second School of Rock site at 7200 N. May Ave. in Oklahoma City.
Brent Fuchs / Journal Record

In some ways, a franchise is little bit like a business in a box, according to Journal Record reporter Molly Fleming. The concept has worked in other markets, so it already has a track record of some success.
 

“The branding is there. There's marketing power. And in some instances there's a team to help you get started,” Fleming said.

A drilling rig in northwestern Oklahoma's Mississippi Lime oil and gas play.
Joe Wertz / StateImpact Oklahoma

Oklahoma oil and gas companies are examining how to take advantage of changes in corporate taxes.

President Donald Trump signed a GOP-backed bill to decrease the corporate tax rate from 35 to 21 percent in December.  Sarah Terry-Cobo writes in the Journal Record that there was a perception that the lower tax rate would result in stock buybacks, dividends and implicit payouts to corporate executives, according to University of Tulsa energy business professor Tom Seng.

This Jan. 31, 2018, photo shows shopping carts at a Costco in Homestead, Pa.
Gene J. Puskar / AP Photo

The second largest retail chain in the world is one step closer to bringing a store to Oklahoma City.

The Oklahoma City Economic Development Trust approved the beginning of negotiations Tuesday for a retail incentive agreement with Costco. 

Travelers have drinks at a bar inside Will Rogers World Airport in Oklahoma City.
Brent Fuchs / Journal Record

Oklahoma’s new alcohol laws take effect in October, but how drinks will be taxed is still up in the air.

State Sen. Stephanie Bice, R-Oklahoma City, has filed legislation that would eliminate a 13.5 percent tax on full strength beer, wine  and drinks with spirits purchased at restaurants and bars, and replace it with a 6.5 percent alcohol tax at the distribution level.

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