Journal Record Business Briefs: August 22, 2012

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Foreman joins OKC ChamberOKLAHOMA CITY - Kurt Foreman will join the Greater Oklahoma City Chamber as executive vice president, economic development.Foreman is president of the North Louisiana Economic Partnership. He has worked in economic development organizations in Pittsburgh, Pa.; Oshkosh, Wis.; Fairfax County, Va.; and Washington, D.C. He also worked as a site consultant.Foreman will lead efforts to attract new business and investment to the Oklahoma City market, retain and grow existing businesses, support innovation and entrepreneurial development and attract destination retail businesses. Foreman received his bachelor's degree at Franklin & Marshall College and his master's degree at Wake Forest University. Foreman will begin his work at the chamber on Sept. 24.-- Staff report

$21.4 million deposited into Rainy Day FundOKLAHOMA CITY - An additional $21.4 million has been deposited into the state's constitutional Rainy Day Fund.Money for the deposit was from a reconciliation of late deposits by state agencies into the General Revenue Fund for the fiscal year ended June 30, Secretary of Finance Preston L. Doerflinger said on Wednesday.The additional deposit by the Office of State Finance will increase the surplus for the fiscal year to $328.3 million. The Rainy Day Fund now totals $577.5 million."This is good news and pushes us very close to the record $596.6 million in the Rainy Day Fund before it was drained to make ends meet during the recession," Doerflinger said."As an optimist by nature, I am hopeful Oklahoma can continue the tremendous economic strides we have made the past two years," he said. "But history persuades me to expect that our rapid growth in revenue will level off at some point. And with so much political and economic uncertainty on the national and international scene, it is prudent that our state has the biggest nest egg possible to deal with unforeseen circumstances."General revenue collections for fiscal year 2012 finished at $5.56 billion, up $426.7 million, or 8.3 percent, from collections for the previous fiscal year.-- Staff report

EPA fines Petco PetroleumDRUMRIGHT - The Environmental Protection Agency has fined Petco Petroleum Corp. of Hinsdale, Ill., $3,650 for violating federal Spill Prevention, Control and Countermeasure regulations under the Clean Water Act.An EPA inspection of Petco's Jemima Richard oil production facility in Drumright revealed that personnel working at the facility had no training on the operation and maintenance of equipment to prevent discharges, discharge procedure protocols, or training on applicable pollution control laws, rules and regulations. The inspection also found that spill prevention briefings were not scheduled and conducted periodically, visual inspections of containers, foundation and supports were not conducted as required by Spill Prevention, Control and Countermeasure regulations and aboveground valves and pipelines were not examined on a scheduled basis for general condition. …


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