THE JOURNAL RECORD

Resource for Oklahoma that specializes in business, legislative, and legal-related information sources. It gives daily updates and opinion on real estate, energy, finance, capitol, and law.

Articles from June 26, 1998

AT&T CEO Propels with Full Force
NEW YORK -- AT&T Chief Executive C. Michael Armstrong is moving fast to shake up the nation's top long-distance company.In seven months on the job, he's sold more than $4 billion of assets and plans to slash billions of dollars in expenses, mainly by...
Auto Superstore CarMax Faces Troubles
RICHMOND, Va. -- The idea of used car superstores sounds great: Huge lots with hundreds of used cars, no-haggle pricing and no high- pressure salesmen in shiny polyester suits.While the idea may be a winner, one of the leading companies is floundering....
Business World
For sale: Saks Fifth AvenueNEW YORK (AP) -- Saks Fifth Avenue is up for sale. The New York- based upscale retailer, known for its high fashion and designer labels, said Thursday it is exploring the possible sale or merger with a select group of targeted...
Buy vs. Lease: Which Way Do You Go?
With his Tec-Ann asbestos removal company expansion seemingly shrinking his office space, owner Gary Cook was forced with a decision all business owners face at one time or another: Where do I find space to expand my company?Now leasing 2,200 square...
Crude Oil Futures Drop amid Production Cut Skepticism
NEW YORK -- Crude oil fell 4 percent on skepticism that oil producers will follow through on promises to cut production by 3.2 million barrels a day to reduce a global supply glut.Traders said they were looking for steeper cuts because of the history...
Edmondson Plan Targets Fraudulent Telemarketers
Attorney General Drew Edmondson is taking a "back room" approach to combat fraudulent telemarketing in Oklahoma.Edmondson spearheaded planning and implementation of an innovative, proactive approach to combating telemarketing fraud -- a reverse boiler...
Existing Home Sales Beat May Estimates
WASHINGTON (Bloomberg) -- U.S. sales of previously owned homes rose to near a record pace in May and the recent decline in mortgage rates is expected to help keep housing bustling through year's end.Existing home sales increased 1 percent to a 4.82 million-unit...
Group to Request Cut in Workers Comp Rates
The group that represents workers compensation insurance companies before the state is expected to file request a rate decrease today, possibly resulting in a double-digit cut before the fall elections.Larry Derryberry, representing the National Council...
It's a New Tomorrow at Tomorrowland
Clients heading for Disneyland this summer will notice many changes in the park. Past Main Street near the Matterhorn Bobsled, some commotion is taking place where the old Tomorrowland used to be. Hot rod-like vehicles now whisk past on an overhead track;...
Mazaheri Buys Lyrewood Apartment Complex for $4.1 Million
Fariborz Mazaheri has bought the 214-unit Lyrewood Pointe Apartments at the intersection of Wilshire and Lyrewood for $4.1 million from The Lyrewood Pointe LLC.The complex was 80 percent occupied at the time of sale. Purchased as an investment, Mazaheri...
Mortgages
A list of mortgages filed with the Oklahoma County Clerk's office is published daily in The Journal Record. Information listed for each mortgage includes book and page numbers, names of the mortgagor and mortgagee, mortgage loan amount, property description,...
Norman's Jazz in June Concerts Bring Variety
The weekend lineup for Norman's 14th annual Jazz in June concerts runs the gamut from jazz to blues to Latin to mainstream to contemporary. All concerts and music clinics are free to the public.Concert goers are welcome -- no, encouraged -- to bring...
Occidental Petroleum Plans Venture with Geon
LOS ANGELES -- Occidental Petroleum, the 13th-largest U.S. marketer of oil and natural gas, said it plans to enter into a joint venture with Geon Co. that will reduce the companies' annual production costs of plastics used in piping, siding and flooring...
Oklahoma City Freightliner Opens Expansion Facility
Oklahoma City Freightliner will open its 11-acre expansion facility this morning at 5101 W. Interstate 40.The $2.6 million facility consists of 6,500 square feet of offices designed to house around 30 salespeople, as well as 24 service bays to be used...
Pan American to Triple Interest in Large Uruguay Gas Distributor
BUENOS AIRES (Bloomberg) -- Amoco's Pan American Energy plans to triple its stake in Gaseba de Uruguay, Uruguay's largest gas distributor, to complement construction of a pipeline that will run from Argentina to Uruguay.The Buenos Aires-based natural...
Poor Commodities Market Faces Possible Further Decline
CHICAGO -- Commodities markets had one of their worst quarters this decade, and prices could fall further as struggling Asian nations buy less of everything from oil to corn to copper.Since the end of March, crude oil tumbled to a 12-year low, world...
REITs Expected to Post Earnings Increase of over 13%
NEW YORK -- Real estate investment trusts are expected to report second quarter earnings rose more than 13 percent, as a surging economy boosted occupancy rates, enabling landlords to raise rents and make acquisitions.Office property REITs, such as Equity...
Stock Investors Select Europe as `Best Bet'
NEW YORK -- Global stock investors reckon Europe is the best bet for the rest of the year, figuring that economic integration and rising earnings will help propel stocks after their best performance in a decade during the first half.With most Asian economies...
Stocks Fall amid Concerns for Computer Industry's Profits
NEW YORK (Bloomberg) -- U.S. stocks fell Thursday, led by Microsoft and Intel, on renewed concern about profits for the computer industry's bellwethers.An afternoon slump in the two stocks pulled the Standard & Poor's 500 Index down from a record, ending...
Strike Forces GM to Make Hard Choices
DETROIT -- General Motors may drop car lines and permanently close some North American plants, hinting that an escalating fight with the United Auto Workers is forcing it to decide the fate of marginal operations sooner rather than later.Two parts-plants...
Strikes to Hurt GM's Quarterly Earnings
General Motors' second quarter earnings will drop sharply because of current strikes by the United Auto Workers, while Chrysler's earnings will double from a strike-weakened year-ago period.Ford, enjoying labor peace, could set another quarterly earnings...
The Duty to Reveal
Not long ago this column addressed the critical importance of keeping a confidence. The obverse side of this ethical coin is the issue of when we are obliged to speak up and reveal something unknown.A few years ago The Wall Street Journal reported on...
Tinker Makes Bid for Texas Jobs
A competitive-bid team from the Oklahoma City Air Logistics Center submitted its bid Thursday for work being dropped from the San Antonio Air Logics Center in Texas.If the Tinker-led team gets the bid, however, the work will be spread among civilian...
Warranty Deeds
A list of Warranty Deeds filed with the Oklahoma County Clerk's office is published daily in The Journal Record. Information listed for each warranty deed includes book and page numbers, the owner of the property granting the property to a new owner,...
Will Prices Be Affordable for AT&T-TCI Customers?
NEW YORK -- Lost in the afterglow of the $32 billion merger between AT&T and cable TV giant TCI is this reality check: Can the promised gee-whiz services -- from high-speed Internet access to local phone calls via cable lines -- be sold at a price people...
Windows 98 Faces Many Differences If Judge OKs Government Changes
WASHINGTON -- Which Windows 98?If the government gets its way in court, the upgrade to Microsoft's Windows sold just months from now will be significantly different from versions that went on sale Thursday.As part of its landmark antitrust case against...