Money & Business
Judge tosses suit filed over Chesapeake CEO bonus
Written by Dick Pryor Monday, 01 March 2010 23:26
OKLAHOMA CITY (AP) - An Oklahoma County judge has dismissed a lawsuit filed by multiple shareholders' groups against Chesapeake Energy Corp. and its board of directors after CEO Aubrey McClendon was awarded a $75 million bonus. District Judge Twyla Mason Gray dismissed the lawsuit on Friday but said the plaintiffs can file an amended claim within 90 days.
The judge says the shareholders' groups did not make a demand on the defendants before the lawsuit was filed, which is required in a derivative action. The groups argued such a demand would have been pointless. The New Orleans Employees' Retirement System initially filed the suit last April. It later was merged with similar suits filed by shareholders' groups from Louisiana, Pennsylvania and Ontario.
Neb.-based survey suggests Midwest economy better
Written by Dick Pryor Monday, 01 March 2010 23:19
OMAHA, Neb. (AP) - Economic indicators of a newly released regional survey increased significantly from previous months, pointing to improving economic growth in the months ahead. But the survey of business leaders and supply managers in nine Midwest and Plains states released Monday also found signs of inflation in the months to come.
The Business Conditions Index for the Mid-America region jumped to 61 in February from 54.7 in January and 50.3 in December. The index ranges from zero to 100. Any score above 50 suggests economic growth in the next three to six months. Conversely, a score below 50 suggests a contracting economy in coming months. The Mid-America survey covers Arkansas, Iowa, Kansas, Minnesota, Missouri, Nebraska, North Dakota, Oklahoma and South Dakota.
Pepsico to close Gatorade plant in Pryor
Written by Dick Pryor Thursday, 18 February 2010 23:12
PRYOR, Okla. (AP) - Officials with Pepsico Inc. are announcing plans to close the company's Gatorade plant in Pryor. PepsiCo spokesman Pat Burke said in a news release Thursday that the company has tried for the past year to keep the plant in open - but the sluggish economy is forcing it to close. The release said the plant is to shut down in about three months. About 100 employees will be affected. Burke said all employees will be given three months and one week of full pay and benefits. Pepsico will also offer other assistance that includes outplacement services and counseling for employees and their families.
Halliburton to move jobs from Duncan to Houston
Written by Dick Pryor Thursday, 18 February 2010 22:53
DUNCAN, Okla. (AP) - Officials with Halliburton Co. say about 150 jobs at the Halliburton Technology Center in Duncan will be moved to Houston during the next two years. Halliburton spokeswoman Diana Gabriel says the move is part of a plan to consolidate operations at company headquarters in Houston. The jobs being moved include chemists and engineers.
he technology center currently has about 400 employees. Gabriel says there are no plans to remove or reduce the remaining 250 or so workers in Duncan. Halliburton was founded in Duncan by Erle Halliburton in 1919 and has become one of the world's largest providers of products and services to the oil and gas industry. The company moved its corporate headquarters to Houston in 2003 from Dallas where it had been since 1961.
County Line co-owner dead in car in flooded creek
Written by Dick Pryor Saturday, 06 February 2010 00:16
SAN ANTONIO (AP) - Randy "Rib King" Goss, the co-owner of the County Line barbecue restaurant chain, has been found dead in a car in a creek. Bexar County Sheriff's Office spokesman Deputy Ino Badillo said a rescue team Thursday removed a body from a vehicle in rain-swollen Cibolo Creek. Restaurant manager Estevan Reyes, who works at a San Antonio location, on Friday confirmed to The Associated Press that the man was Goss. Reyes says services are pending for the 55-year-old businessman.
Heavy rain led to barricades put across some roads. Badillo says a woman contacted officers Wednesday night to say her husband had not arrived home. County Line has locations in El Paso, Austin, San Antonio,Houston and the Conroe area. The company also has a restaurant in Albuquerque, N.M., and one in Oklahoma City.