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 October 28, 1997

ABC Appeals Punitive Damages Award in Food Lion Case
CHARLOTTE, N.C. (AP) -- ABC News on Monday appealed a federal jury's decision to award punitive damages to supermarket chain Food Lion for a hidden-camera expose, even though the trial judge had already reduced the award from $5.5 million to $315,000.Notice...
A New Baker Comes to Town
Once touted as warehouse supermarkets with a touch of class, Oklahoma City Megamarkets are set to become Baker's on Nov. 9.Fleming-owned Baker's will take over the three Oklahoma City locations, in addition to converting the Northwest Expressway Market...
Area Jobless Rates Show Slight Gain
Unemployment rates showed a slight uptick for September for Oklahoma's two major metropolitan areas and statewide.Oklahoma City and Tulsa both had 3.1 percent unemployment rates for September, up from 2.9 percent for August.The statewide unemployment...
Building Permits
These lists of building permits issued by Oklahoma City include those issued for new residential and commercial construction, renovations, swimming pools, elevators and other projects. Permits are listed by number and include owner or contractor, address,...
Business World
Sun wants to riseMOUNAIN VIEW, Calif. (Cox) -- Sun Microsystems is not exactly a household word among home computer users. But the Silicon Valley maker of computer workstations is trying to change that. The company, best known among lay people for its...
Consumers Get Head Start on Shopping for Christmas Toys
NEW YORK -- Halloween isn't even here yet, but Lisa Levine was on the hunt this weekend for Christmas toys.Her top pick -- Tyco Toys' Sing & Snore Ernie -- was already sold out at a Toys R Us store in Manhattan."I came early this year, after I missed...
Council Ponders Measures to Make Up for Lower Tax Revenue
The Oklahoma City Council is considering several "strategic cost containment measures" to cut expenses if its sales tax revenue slide continues.In a special report to the council, Oklahoma City's Finance Director and future city manager Glen Deck has...
Developing Relationships Is the Italian Way of Doing Business
Executives wanting to expand exports to Italy should prepare for a long courtship. Friendship, which sometimes takes years to develop, counts more there than bottom-line economics."If you want to sell something to an Italian business, you've got to...
Dow Industrials Drop 554 Points
NEW YORK (AP) -- In a day of worsts on Wall Street, the Dow Jones industrial average plummeted a record 554 points Monday, forcing an early halt to trading for the first time under rules adopted following the Black Monday crash of 1987.The selloff was...
Federal Reserve's Hoenig Cautions of Mixed Signals
TULSA -- The U.S. economy is "uniformly" strong with healthy growth combined with low inflation, Kansas City Federal Reserve Bank President Thomas Hoenig said Monday.In a speech to The State Chamber in Tulsa, Hoenig warned however that he saw "mixed...
Ford Shows off Aluminum Car
DEARBORN, Mich. (Bloomberg) -- Ford showed off one of the lightest midsize cars ever built Monday -- a 2,000-pound prototype with an aluminum body that's 28 percent more fuel efficient than a conventional car.The body and chassis of the P2000 concept...
Former Suiter Joins Myles in Skirvin Deal
William Curry Myles is enlisting the financial backing of another Skirvin Plaza Hotel bidder -- Gotez -- in his move to buy the 86- year-old inn.Gotez's president, Sam Hemani, will provide $1 million in financing for Myles to pay off the creditors of...
Funds See No Panic in Market's 7% Plunge
BOSTON -- Some U.S. mutual fund investors reacted to Monday's 7 percent stock market plunge by pulling cash from equities funds and opting for safety by moving assets to low-risk money market funds.Still others used Monday's slump, the biggest one-day...
Intel to Purchase Digital's Chipmaking Operations
SANTA CLARA, Calif. (Bloomberg) -- Intel will buy Digital's chipmaking operations for $700 million and produce Digital's Alpha chip to end a patent dispute.The transaction could be worth more than $1.5 billion to Digital because of such items as discounts...
`It Ain't Smart'
Until the federal government removes the Highway Trust Fund from budget consideration, the nation's highways will continue to deteriorate.Since the late 1950s, the federal government has collected gasoline taxes for a special trust to fund interstate...
Liberal Think Tank Hears NAFTA's Great Sucking Sound
SAN FRANCISCO -- Companies that together have laid off 13,000 workers because of the North American Free Trade Agreement are among the leaders of a coalition lobbying for "fast-track" trade negotiations to expand the treaty -- partly on grounds that...
Manufacturing Expects Growth
WASHINGTON (Bloomberg) -- U.S. manufacturing executives expect business activity to grow at a steady pace in the fourth quarter, while construction companies foresee a drop in activity, according to a pair of monthly industry surveys for September.The...
MBNA Steps Up Marketing for Affinity Cards; Others Retreat
WILMINGTON, Del. -- Charles Cawley has long seen gold where others see lead, mining the overlooked business opportunity to the hilt and making it pay off handsomely. Take, appropriately enough, the gold credit card, which despite its hue left many bankers...
Microsoft Claims Department Knew of Its Plans since 1995
WASHINGTON (AP) -- Microsoft said Monday that the Justice Department has known for more than three years of its plans to embed Internet browsing software in its Windows computer operating system.The company said it inserted language into a 1995 consent...
Microsoft Files Countersuit against Sun Microsystems
NEW YORK (AP) -- Microsoft on Monday launched a legal counterattack against Sun Microsystems, flatly denying it was trying to disrupt Sun's plans to establish a universal software language for computers.The countersuit by Microsoft, filed in San Jose,...
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,...
Myst Creators Release Five-CD Sequel to Exploring Game
When they finished Myst four years ago, creators Rand and Robyn Miller were blissfully unaware of what they were about to unleash. Like the rest of the world, the Spokane, Wash., brothers little expected their dreamy computer game would sell 3.5 million...
Norick Expected to Announce Whether He Will Run Again
Will he run?It's the question of the hour -- and Mayor Ron Norick has set the hour of his announcement as 9 a.m. Wednesday.Norick has called a press conference then and is expected to let the city know his plans. What those plans are has been a fairly...
OGE Reports Decrease in Net Income, Higher Sales
OKLAHOMA CITY (JR) -- OGE Energy on Monday reported a slight drop in earnings for the third quarter.Net income for the quarter totaled $89.5 million, or $2.20 per share, down from $90.2 million, or $2.22 per share, for the third quarter of 1996.Operating...
OKC Water Conference Set for Nov. 5
OKLAHOMA CITY (JR) -- Native American water rights, impacts from confined animal feeding operations and other water quality issues provide the major agenda components of the 18th annual Governor's Water Conference on Nov. 5 at the Marriott Hotel.The...
PC Sellers Report Increased Sales
NEW YORK -- Compaq and Dell are the big winners in a price- cutting war that left rival sellers of personal computers smarting, two business research firms have reported.Overall industry sales in the United States grew at least 20 percent in the third...
Private-Practice Doctors Apply to Form Union
TRENTON, N.J. -- Angry over what they call intrusive control by HMOs, hundreds of New Jersey doctors Monday became the first private- practice physicians in the country to apply for the right to unionize.The doctors asked the National Labor Relations...
Redesigned U.S. $50 Bill Makes Debut This Week
Your pocketbook will begin to start noticing a little change in the near future as the Federal Reserve this week began issuing redesigned Series 1996 $50 notes.The new notes, which will be widely available in banks and other depository institutions around...
Sales of Pre-Owned Homes Climb to Record Last Month
WASHINGTON (AP) -- Sales of previously owned homes inched to a new record in September, pushed higher by a rebound in long-depressed markets in the Northeast.Existing homes sold at a seasonally adjusted annual rate of 4.32 million units, up 0.2 percent...
Stock Crashes May Follow Antitrust Actions
To find the culprit behind falling U.S. stock prices, don't look west to Hong Kong but east to Washington, some economists say.It may be no coincidence that the two biggest business stories last week were the sharp tumble in equity markets -- especially...
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,...
Wasted Energy: The Price Is Right for Fuel Efficiency to Fall
WASHINGTON -- When people are rich and fuel is cheap, when the weather is cold and the economy is hot, the United States can hardly resist indulging its appetite for energy.That was the situation in 1996, when Americans tanked up even more extravagantly...
Willbros Earnings Improve in 3rd Quarter, Nine Months
TULSA (JR) -- Willbros Group Monday reported net income of $3.9 million, 27 cents per share, for the quarter ended Sept. 30.That compares with a net loss for the same period in 1996 of $2.8 million, or 20 cents per share, after taking into account a...
Wireless Licenses Auction Begins
WASHINGTON (Bloomberg) -- An auction for 525 wireless communications licenses across the nation will start today with bids from 62 companies.Nextel Communications will lead the bidding after paying $12.7 million to the Federal Communications Commission...