KGOU

Business Intelligence Report

Fridays at 6:44 a.m., 8:44 a.m., 12:35 p.m., and 5:44 p.m.

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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Two women pass by the shuttered Pita Pit on Campus Corner in Norman.
Brent Fuchs / The Journal Record

If you graduated from the University of Oklahoma, and haven’t been back for a couple of years, you might not recognize Campus Corner. Over the past decade it’s been a revolving door of burrito restaurants (Moe’s Southwest Grill, Freebird’s, Chipotle, Chimy’s…) and many longtime staples (Cookies ‘n’ Cards, Pita Pit) no longer occupy the space along Asp Avenue north of Boyd Street.

This fall, former University of Oklahoma head football coach Barry Switzer will become a regular presence just north of campus as his “Coach’s Cabana” color commentary program moves to the parking lot of Hideaway Pizza along Buchanan Ave. As The Journal Record’s Molly Fleming reports, it’s part of a growing trend of activity in the restaurant and entertainment district:

Curtis Davis loads a cardboard baler at St. Anthony hospital in Oklahoma City.
Brent Fuchs / The Journal Record

False Medical Claims Investigations in Oklahoma

About seven years ago, the U.S. Attorney General’s office began working with district court prosecutors to crack down on false medical claims. They are investigated all the time, and settlements have become more common in Oklahoma. Many of the investigations are settled before a complaint is filed.

Adam Brooks, the managing editor of The Journal Record newspaper, said most false claims involve overcharging Medicaid.

Tate Publishing & Enterprises at 127 Trade Center Terr. in Mustang.
Brent Fuchs / The Journal Record

Tate Publishing, a Christian book and music publisher based in Mustang, Oklahoma, is facing a lawsuit from Xerox. The printing company alleges Tate owes over $1.7 million.

 

Xerox and Tate have been working together since about 2003, and Xerox helped Tate increase their printing operation.

 

Bottles of wine are displayed on shelves at Market Beverage Co., 204 S. Littler Ave. in Edmond.
Brent Fuchs / The Journal Record

It’s been a week since the end of one of the most contentious legislative sessions in recent memory, and attention is now starting to turn to elections this summer and fall in Oklahoma.

Workers install a stone façade outside one of four Senior Wellness Centers being built as part of Oklahoma City’s MAPS 3 program.
Samuel Perry / The Journal Record

Several Oklahoma City civic leaders gathered Tuesday evening for a town hall meeting to discuss the city’s 10-year general obligation bond issue, which voters won’t decide until next year.

SandRidge Energy sign
Brian Hardzinski / KGOU

Monday morning Oklahoma City-based SandRidge Energy formally filed for bankruptcy.

The move wasn’t unexpected among energy observers, but one of the interesting things about this particular filing is that SandRidge has almost twice as many assets as it does debt.

The Zoo Amphitheatre at 2101 NE 50th St. in Oklahoma City.
Brent Fuchs / The Journal Record

Two months ago Oklahoma City opened The Criterion, a new 3,500-seat theater in Bricktown. The venue has has already seen concerts by My Morning Jacket, Grace Potter, and most recently, Sturgill Simpson this past Wednesday evening. Later this year the Tower Theatre will open in Uptown, and there’s going to be an outdoor patio for concerts west of downtown.

But these are all indoor venues. Oklahoma City only has two large outdoor amphitheaters – The Zoo Amp, and Frontier City – both in the northeast part of the city.

An artist’s conception of the new convention center in downtown Oklahoma City.
Populous and GSB Inc.

During Tuesday’s Oklahoma City Council meeting, Ward 5’s David Greenwell said it’s hard to get excited about things like the proposed MAPS 3 convention center until you see some of the architectural renderings.

Those were presented this week, and one of the issues with this new convention center seems to be parking.

Ward 2 councilman Ed Shadid, who’s pretty vocal about his concerns when it comes to using public money for large-scale projects, raised the point during the architects’ presentation.

Dr. Billy D. Schumpert, left, checks on Debbie Brewer at Eastern Oklahoma Medical Center in Poteau on Tuesday while Kody Smith, infection preventionist and registered nurse, looks on.
Amanda Corbin / Poteau Daily News

Proposed cuts to Oklahoma’s Medicaid reimbursement rate that could be as high as 25 percent are threatening the services offered by rural hospitals across the state.

Jaynie Studenmund addresses the audience during the Oklahoma City University Meinders School of Business Women in Leadership conference Wednesday at the Cox Business Services Convention Center in Oklahoma City.
Brent Fuchs / The Journal Record

The nation’s workforce is getting older, and more diverse, with more women and minorities ascending to top spots some of the nation’s largest companies.

The neon sign still stands outside the Sunshine Cleaners building at 1012 NW First St. in Oklahoma City.
Brent Fuchs / The Journal Record

The revitalization of downtown Oklahoma City continues to move west, and developers are always looking for ways to offset or subsidize the costs of their projects.

Tulsa resident Ashley Hacker exits a polling place after casting his vote on a sales tax extension proposal Tuesday.
Rip Stell / The Journal Record

Voters across Oklahoma went to the polls on Tuesday for mostly local elections, including a series of sales tax initiatives in both northeast and central Oklahoma.

In the city of Tulsa, voters approved three separate tax propositions totaling 0.55 percent. They deal with public safety, infrastructure, and capital projects as part of the Vision 2025 program first approved in 2003.

“The tax rate will not go up in Tulsa,” said The Journal Record’s managing editor Adam Brooks. “It’s just extending what they already have and will stay at 8.517 percent.”

SandRidge Energy
Brian Hardzinski / KGOU

One of Oklahoma City’s major energy producers unveiled its latest earnings reports earlier this week.

It wasn’t good news – it really hasn’t been for any of the state’s energy giants as they continue to feel the effects of this nearly two-year downturn in commodity prices . On Tuesday, SandRidge Energy announced it lost $74 million in the fourth quarter of 2015 – down 58 percent year-over-year and missing Wall Street expectations.

New Source Energy Partners is headquartered at 914 N. Broadway Ave. in Oklahoma City.
Brent Fuchs / The Journal Record

It’s been more than 18 months since the start of the energy downturn that saw the price of oil dip to about $30 dollars a barrel.

It’s slowly starting to rebound, and it’s led to bankruptcies, a few success stories, and even some variables that have nothing to do with market forces.

Last week New Source Energy Partners filed for Chapter 7 bankruptcy. The small company based in an office along Broadway in Oklahoma City’s Automobile Alley had a credit cut in October that took its borrowing base from $49 million to $24 million.

A bartender pours a glass of wine at Cafe 501 in Edmond.
Brent Fuchs / The Journal Record

Oklahoma’s $1.3 billion budget shortfall has dominated news coverage of the 2016 legislative session, but one of the bills the public is most interested in is a proposal to overhaul the state’s alcohol laws.

The new Norman Regional Moore during the final stages of construction, March 2016.
Brian Hardzinski / KGOU

Oklahoma saw its first taste of severe weather in 2016 earlier this week, and it’s the time of year when people start reflecting on past events and disasters.

The 2013 series of storms devastated the suburb of Moore, with two dozen deaths, the destruction of two elementary schools, and the leveling of the Moore Medical Center between Telephone Road and Interstate 35.

A little less than two months from now the new Norman Regional Health System facility is scheduled to open on that same site.

Provided

Two days after his surprising death, civic and industry leaders remembered Aubrey McClendon as a pioneer and a visionary in oil and natural gas drilling. But if you talk to current and former employees, they keep using one word: genuine.

A building on the Chesapeake Energy Corporation campus.
Brent Fuchs / The Journal Record

Last week major Oklahoma energy players Devon and Williams Companies unveiled their latest earnings reports, showing huge fourth-quarter losses. The news wasn’t any better this week for Oklahoma City oil and gas giants Chesapeake Energy and Continental Resources also posted significant losses.

oil pump jack
Paul Lowry / Flickr

It’s been another volatile week for Oklahoma’s energy industry, and many of the state’s oil and gas companies released earnings report for the final quarter of 2015 that continue to paint a grim portrait of the economic downturn.

 

Workers erect scaffolding outside the First National Center building in downtown Oklahoma City.
Brent Fuchs / The Journal Record

On Tuesday, the Oklahoma City Council discussed making changes to the tax increment finance district, or TIF, for the area affected by MAPS projects.

The council wants to increase the budget for the downtown MAPS district – adding $40 million to bring the total to $165 million.

“The says that the investment so far has already brought in $1.8 billion in private money, and adding the $40 million would bring in another $1 billion,” said The Journal Record’s managing editor Adam Brooks.

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