Money & Business
Poultry company to open plant in Ponca City
Written by Dick Pryor Friday, 27 August 2010 19:57
OKLAHOMA CITY (AP) - Poultry companies in Oklahoma and Arkansas say they'll be announcing plans for a chicken processing plant in Ponca City with 350 new jobs. Oklahoma City-based Dorada Foods and Springdale, Ark.-based Tyson Foods released a statement Friday saying a formal announcement is planned for Monday in Ponca City. The release says Dorada will occupy a former Tyson plant in Ponca City and provide chicken products to McDonald's restaurants. The plant is to begin operating in mid-2011.
1st 787 now expected in mid-first quarter 2011
Written by Dick Pryor Friday, 27 August 2010 19:50
EVERETT, Wash. (AP) - Boeing Co. says it now expects to deliver its first new 787 jetliner in the middle of first quarter 2011. Last month, the aerospace company said the cumulative impact of a series of issues could push the first delivery "a few weeks into 2011." Those problems included supplier workmanship issues related to the horizontal stabilizer, as well as instrumentation delays.
Some parts for the 787 are being manufactured by Spirit AeroSystems Inc. in Tulsa. The latest change in the delivery date follows an assessment of the availability of an engine needed for the final phases of flight tests this fall. In a statement Friday, Boeing spokeswoman Yvonne Leach said Boeing is working closely with Rolls-Royce to expedite engine availability. She says flight testing continues as planned.
Oklahoma City Mall to be Managed by Chicago Company
Written by Dick Pryor Monday, 09 August 2010 19:32
OKLAHOMA CITY (AP) - An Arkansas-based company that lost an Oklahoma City mall to the federal government in foreclosure says it is hiring a management firm to try and prevent the same fate for two other malls. Midwest Mall Properties LLC says it will have Chicago-based Urban Retail Properties LLC provide management and leasing services for the Northwest Arkansas Mall in Fayetteville, Ark., and The Citadel Mall in Colorado Springs, Colo. Midwest Mall Properties bought the two malls, along with Crossroads Mall in Oklahoma City, in December 2006 for about $400 million. By April 2009, the company had lost the Oklahoma mall to foreclosure. Maiden Lane LLC, an entity of the Federal Reserve Bank in New York, ended up with Crossroads Mall after the failure of Bear Stearns Cos., which held the mortgage on the mall.
Devon Energy Reports Increased Earnings in Second Quarter
Written by Dick Pryor Thursday, 05 August 2010 20:43
Higher oil and natural gas prices helped Devon Energy more than double its income in the second quarter. The Oklahoma City-based oil and gas company reported earnings of $706 million for the quarter that ended June 30th. Devon said oil prices increased by 23% year to year, while natural gas prices jumped by 24%.
Oklahoma-born Billionaires Promise Large Donations to Causes
Written by Dick Pryor Thursday, 05 August 2010 15:53
OKLAHOMA CITY (AP) - Oklahoma-born billionaires T. Boone Pickens and George B. Kaiser are joining a project in which they promise to donate large sums of their wealth. They're among 40 wealthy families who have signed The Giving Pledge started by Warren Buffett and Bill and Melinda Gates. Those signing promise to donate a majority of their wealth to philanthropic and charitable causes. Pickens is a Holdenville native and now a Texas oilman. He graduated from Oklahoma State and is a longtime donor to OSU and to edcuational, medical, youth, entrepreneurial and wildlife projects. Kaiser is chairman of Tulsa-based BOK Financial Corp. and primary owner of Kaiser-Francis Oil. Co. His past donations have included childhood education, community health and social services.
