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 May 28, 1999

Are Drive-Ins Coming Back?
CHRISTIANSBURG, Va. -- The movie was about to start at the Starlite Drive-in and 5-year-old Corey Saul was still running circles around the family blanket."Come and get another hot dog, Corey," his mother yelled from the car, as Corey's older sisters...
Automakers Ponder Building New Plants
DETROIT (AP) -- With cars and trucks driving off dealer lots at a fast clip, automakers have decided now is the time to build new factories and expand old ones.Even with excess capacity at factories that make passenger cars, demand is so great for their...
Bracing for the Task before Us
Just hours after the tornadoes carved a path of destruction, local homebuilders and real estate professionals jumped into action to do their part in helping to assess the damage.With more than 8,000 homes left destroyed by the May 3 twisters, the task...
Business World
Holding data hostageANCHORAGE, Alaska (NYT) -- The Anchorage Daily News has reported that a disgruntled employee tried to hold his company's database hostage. The employee, Gregory Todd Erkins, a computer systems operator for a small real-estate firm,...
CEO Pay Backlash: Take the Money and Run
KANSAS CITY, Mo. -- Is this irony, or what?Some of the same corporate boards that inflated executive salaries to balloon-popping dimensions are whining now that they can't retain their top talent.Their CEOs are taking early retirement because "they have...
Chevron, Texaco Talks Stalled
NEW YORK (Bloomberg) -- Chevron's talks to buy Texaco, the third- largest U.S. oil company, for $43 billion in stock are stalled over who would run the combined company and how Texaco would untangle a joint venture, a person familiar with the discussions...
CID Offers Special Incentives for Information Exchange Program
In order to boost interest and usage of the new Commercial Information Exchange (CIE) database, the Greater Oklahoma City Association of Realtors Commercial Industrial Division (CID) will wave all initiation fees and monthly user fees for the system...
Cowboy Hall of Fame to Host 1999 Prix De West Event
Prix de West, the 1999 Invitational Exhibition and Sale, sponsored by the National Cowboy Hall of Fame and Western Heritage Center, will take place June 11-12.Prix de West offers a series of seminars the first day, followed by a cocktail party at 6 p.m....
Dollar Thrifty Chair Gives Optimistic Outlook
TULSA (JR) -- Baby boomers should drive robust growth for Dollar Thrifty Automotive Group for the next two to three decades, investors were told Thursday during the Tulsa-based company's first annual meeting.Joseph E. Cappy, Dollar Thrifty's chairman,...
Dow Suffers Big Drop
NEW YORK (Bloomberg) -- The Dow Jones Industrial Average had its worst percentage decline Thursday in more than 10 weeks, on concern that inflation and interest rates are headed higher. Bank stocks such as Wells Fargo and Bank One led stocks to their...
Exxon, Mobil Deal Passes Next Step; Awaits Regs OK
DALLAS (Bloomberg) -- Exxon's plan to create the world's largest publicly traded oil company with an $88 billion buyout of Mobil was approved Thursday by both companies' shareholders.The companies held separate shareholder meetings at Dallas hotels that...
Farmers Insurance to Appeal $17 Million Roof Repair Decision
OKLAHOMA CITY (AP) -- Farmers Insurance plans to appeal a federal jury's decision awarding $17 million in punitive damages to a family that sued over roof repairs.The award given Tuesday to retired firefighter James Davis, 98, and his daughter, Virginia...
Federal Reserve to Propose Lending Plan for Y2K Emergencies
WASHINGTON (AP) -- The Federal Reserve is proposing a plan for special lending to banks, thrifts and credit unions that might need emergency money because of the Year 2000 date change.The central bank is seeking public comment on the proposal, which...
Gender and Law: Does It Matter?
WASHINGTON -- During her 18 years on the Supreme Court, Sandra Day O'Connor has often been the justice in the middle of a sharply divided bench. In Monday's 5-to-4 decision on sexual harassment in the schools, she was, perhaps more clearly than ever,...
Hostile Conditions
The world in general and the workplace in particular are becoming increasingly "hostile." The origin of this sad trend is rooted, at least in part, in the inevitable consequences of abandoning discipline in our corporate and individual lives. The interest...
House Passes Measure That Would Provide Oklahoma Tax Credit to Potential Airline
A bill to give a state income and insurance premium tax credit to a new Tulsa airline wanting to provide nonstop service to both coasts leaped through its final legislative hoop Thursday and is now on Gov. Frank Keating's desk.Senate Bill 523, by Sen....
Kmart Could Face Responsibility for Missed Payments by Company That Acquired Its Chain of Builders Squares
DETROIT (AP) -- Kmart could be on the hook to pay $761 million in store leases if the company that bought its Builders Square home improvement chain fails to keep up with its payments.Hechinger, which purchased Builders Square in 1997 from Kmart, is...
Ma and Pa Motels May Be Part of Dying Breed in U.S
BRENTWOOD, Tenn. -- Travelers Rest Inn looks like it's caught in a time warp.The 36-room, bracket-shaped motel with its quaint ambiance and antique decor hasn't changed much since it opened 45 years ago, but everything around it has.The sleepy two-lane...
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,...
Pre-Paid Legal Services Plans to Enhance Its Internet Usage
ADA (JR) -- Pre-Paid Legal Services intends to enhance its usage of the Internet to boost productivity, increase membership sales and sales associate recruitment.The Ada-based underwriter and marketer of legal-service plans hopes exploiting the Web will...
Richland Resources Buys Location in Midwest City
Richland Resources has bought a 3.94-acre tract of land at 9000 SE 18 St. for $300,000 from Jack R. Matherly. The buyer group has yet to announce plans for the property. Retail building soldSteve Murry has acquired a 6,000-square-foot retail building...
Rising Consumer Spending Keeps Economy on Track
WASHINGTON (AP) -- The biggest consumer spending spree in 11 years kept the economy growing at a robust rate in the year's first quarter, the government said Thursday.The economy grew at a solid annual rate of 4.1 percent, even though the country's trade...
Should Firms Do More for Working Parents?
President Clinton's Council of Economic Advisers issued a report this week that it hopes can turn the notion of a "time crunch" into a rallying cry for the administration's agenda for families.Mothers, the report shows, are spending substantially more...
State Offers Incentives for Space Development
Oklahoma is officially in the space launch business.Like any start-up company, there are no clients yet. But the policy infrastructure is in place.During a brief Capitol ceremony, Gov. Frank Keating Thursday signed Senate Bill 720 to create the Oklahoma...
Trends toward Regional Jets Face Union Turbulence
CHICAGO -- Airlines want to fly more of the regional jets that are increasingly popular with travelers, but there's likely to be turbulence ahead as they wrangle with pilots unions about control and wage parity.United Airlines this week became the latest...
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,...
Webco Industries Earnings Drop 85 Percent
TULSA (JR) -- Webco Industries Thursday reported a plunge in net income to $347,000, or 5 cents per share, for the third fiscal quarter ended April 30.Earnings were down 85 percent from $2.3 million, or 32 cents per share, for the same period in fiscal...
Y2K Crunch Time Breeds Urgency
Donald Rose, the head of Intel's global drive to prevent Year 2000 computer problems from derailing microchip production, is focused these days on 500 critical suppliers of materials and basic services like power and phones.About half are ready for the...