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 July 28, 1998

Accounting Firms' Growing Double Duties Concern SEC
Federal securities regulators have grown increasingly concerned that the accounting industry's lucrative expansion into computer consulting may be creating conflicts with the accountants' role of being watchdogs for investors.Consultants from the Big...
ARCO Reports 44% Plummet in Second Quarter Earnings
LOS ANGELES -- Atlantic Richfield Co., the seventh-largest U.S. oil company, said its second quarter profit fell 44 percent as the lowest oil prices in 12 years and the sale of its coal operations slashed revenue.Los Angeles-based Arco reported profit...
Bell Atlantic, GTE Conduct Merger Talks
NEW YORK (Bloomberg) -- Bell Atlantic and GTE are discussing a merger that could be worth at least $50 billion, creating a company with a third of the U.S. local phone market and a major cellular phone business, people familiar with the talks said.The...
BOK Financial Acquires Branches in New Mexico
Following recent expansions into Arkansas in 1994 and Texas in 1997, BOK Financial will head west with the acquisition of 17 Bank of America branches in New Mexico.Fifteen of the branches are in the Albuquerque area, with one in Gallup and one in Clovis....
Building Permits
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, type of permit and dollar amount. Filed...
Business World
Canned messagesMILWAUKEE (NYT) -- Since last month, Miller Lite has been sold in seven different cans that invite the guzzler to establish a meaningful relationship with his beer. One can has a Cal-O-Meter on it, a scale to show the calories consumed,...
Devon Profits Decline
OKLAHOMA CITY (JR) -- Lower oil and natural gas liquids prices resulted in a drop in second quarter earnings and revenues for Devon Energy.Oil, natural gas and natural gas liquids production for the Oklahoma City-based company was at record levels for...
Economists Forecast `98 Second Half Slowdown
WASHINGTON (Bloomberg) -- The U.S. economy will probably slow down in the second half of 1998 from the first quarter's blistering pace, as Asia's economic troubles take a toll on U.S. manufacturing, the National Association for Business Economics said...
GM, Dealers Attack Image of Vehicle Shortage
DETROIT -- General Motors' labor walkouts might have wiped out its North American production, but the showroom at Wilde Pontiac in Waukesha, Wis., is still two-thirds full."Contrary to what has been on the news about GM dealers, I've got plenty of cars...
Hot Temperatures Boost OGE Quarterly Earnings
OKLAHOMA CITY (JR) -- The hot summer weather has provided a boost to the earnings of OGE Energy for the second quarter.Net income for the quarter totaled $47.86 million, or 59 cents per share, up from $31.1 million, or 38 cents per share, for the second...
Midwest Regional Expands with New Services, Facilities
Peter Lawson has stepped in as the executive director of Midwest Regional Medical Center just in time to see the hospital through a period of growth and dramatic change.The hospital is adding 33 beds, preparing to break ground on a 30,000-square-foot...
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 mortagee, mortgage loan amount, property description,...
New Locations
Received: 7/23/98Garvin CountyDeka Exploration Inc.; Box 14057, OKC 73113 (405-749-0004); #1-9 Walker; se sw sw 9-4n-1w; 330' fsl & 990' fwl; 6400' Oil Creek; SoonGrady CountyLouis Dreyfus Natural Gas; 14000 Quail Springs Pkwy. #600, OKC 73134 (405-749-1300);...
Number of Banks in District Decline as ATMs Surge
In the past 12 years, the 10th Federal Reserve District, which includes Oklahoma, has experienced a 40 percent decline in the number of banks, from 2,985 in June 1985 to 1,796 by June 1997. Oklahoma has endured a 39 percent drop, from 538 banks in June...
Promoting Energy Self-Sufficiency
The military fray of El Salvador in the `80s is a distant cry for Edwin Corr, who sits comfortably in his quiet office at the University of Oklahoma Sarkeys Energy Center.The former ambassador to the tiny Central American country during the Reagan administration...
Rail Corridors
When efforts to develop a true international trade corridor along Interstate 35 come to fruition, intermodal travel in Oklahoma may be confined to the mix of water and highways.At least that's the thinking for right now. It could change.Kansas City seems...
Riverboat Gambling Gives Dying City Second Chance
EAST ST. LOUIS, Ill. -- The Casino Queen riverboat arrived here five years ago, docking along the grimy river front of what was then the epitome of a dying American city.Raw sewage backed up into the streets. Piles of trash shared the landscape with...
Teamsters President Barred for Life
WASHINGTON (AP) -- Ron Carey, who rose to the Teamsters presidency as a reformer, was barred from the union for life Monday by a federally appointed board. The panel held him responsible for an illegal scheme that used union funds to boost his re-election...
Tyson Posts 3.1% Earnings Increase
SPRINGDALE, Ark. (Bloomberg) -- Tyson Foods will take a fiscal fourth quarter pretax charge of about $200 million in a restructuring plan to focus on its primary product line -- chicken.On Monday, Tyson said its third quarter earnings rose 3.1 percent...
U.S. Does Not Produce Enough Engineers for High-Technology Firms
Why do high-tech companies need new foreign workers when they're laying off scores of people?U.S. House and Senate negotiators agreed late last week to nearly double the number of foreign workers allowed to hold high-tech jobs in the next four years...
U.S. Home Sales Fall Slightly
WASHINGTON (AP) -- Sales of existing single-family homes slipped a bit in June from a record high the month before but remained at what an analyst called a spectacular level.The 2.3 percent decrease brought the seasonally adjusted annual sales rate to...
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,...
Wells Completed
Received: 7/24/98Completion reports are compiled by county, operator and well information.Beaver CountyCabot Oil & Gas Corp., Englewood CO/303-721-5844 -- #1-29 Brown -- c sw ne 29-2n-28ecm; TD 8210' -- PBTD 7633'; perf. Cherokee 7268-78', p/19bo, 128Mcf,...
What Companies Need to Know Is in the Pizza Dough
As empires crumble and technology pushes ever forward, some things remain unavoidable.There's death, and taxes. And then there's pizza.Americans' consumption of pizza is at a record high, market researchers say, trailing only soft drinks, burgers and...
Willbros Posts Increase in `98 Second Quarter Earnings
TULSA (JR) -- Willbros Group on Monday reported an increase in earnings for the second quarter.Net income for the quarter totaled of $3.8 million, or 25 cents per share, up from $3.1 million or 21 cents per share, for the second quarter of 1997.Revenues...
Williams Buys 350-Mile Fiber-Optic Cable
TULSA (JR) -- Williams has completed an asset purchase agreement to acquire from the telephony unit of MediaOne a 350-mile stretch of high-capacity fiber-optic cable.The cable links Jacksonville, Fla. and Miami.The transaction extends Williams Network...
Will Lenders Face Trouble If the Nation's Economy Slows?
NEW YORK -- It's difficult to tell lenders anything about their business when profits are as good as they are now. Those profits, they may tell you, are proof of their money management skills.If only it were so, but it isn't. While lenders make very...
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