Business Briefs (Week of Dec. 23)
Tuesday, December 27, 2022
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Looking for business briefs? This week's roundup (for the week of Dec. 23) from The Journal Record.
Latest senior center nearing completion in OKC
Oklahoma City’s third senior health and wellness center is moving quickly toward completion at NE 36th Street and Lincoln Boulevard after supply chain delays and workforce shortages slowed progress early in the construction. Construction of the 44,810-square-foot wellness center began in May 2021 and is slated for completion in mid-March. Supply chain issues had a big effect on the $12.2 million project, said Jim Sheppard, construction project manager. The building’s roof was ordered in April 2021 but didn’t arrive until this summer. The same issues have affected the fourth senior health and wellness center under construction at 13660 S. Western Ave. The $13.9 million, 44,892-square-foot facility should be completed in the second quarter of 2023, Sheppard said.
Norman survey could lead to new arena, economic plan
A coalition of public and private organizations and community leaders from throughout Norman is reaching out to as many as 100,000 residents and businesses in a quest to determine Norman’s pathway into the future. A lengthy survey distributed the week of Dec. 12 focuses on the market viability of a major entertainment venue development comprising an event arena, restaurants, bars, shopping, housing and other attractions. The initiative could position Norman as a major entertainment destination in central Oklahoma. Results could determine the direction of future development in Norman, including tens of millions of dollars for an arena that could be used for college basketball, college gymnastics, concerts and other events.
Rent increases in OKC outpace other metros across US
Rent increases in Oklahoma City year-over-year in November outpaced increases in most other big cities across the country, according to market watcher Redfin. According to the online broker’s most recent report on rent rates, Oklahoma City witnessed a median increase of 17.9% year-over-year in November. Across the rest of the country, the increase was more than 10 basis points lower.
Appeals court tosses Tulsa police major's lawsuit
An Oklahoma appeals court this month ruled to dismiss a Tulsa policeman’s lawsuit against news organizations that correctly quoted an inflammatory comment he made during an interview. Travis Yates, a Tulsa police major, said he was falsely depicted as a “racist cop” when local and national news organizations publicized a statement he made during an interview with local radio station Talk Radio 1170 in June 2020. In the weeks following the murder of George Floyd, Yates gave an interview discussing the prevalence of police shootings and excessive force when interacting with Black people.
Developers plan extensive makeover of Skirvin
Investors and architects have begun meeting to develop a design plan for a $15 million renovation of downtown’s stately 111-year-old Skirvin Hilton now that it has changed ownership. Developer Mark Beffort said great care will be taken to make the building current while keeping its historic look and feel. Planning will take six or seven months and the extensive makeover should begin in the third quarter of 2023, Beffort said. Ortus Hotel Investments of Oklahoma City – led by real estate entrepreneurs Beffort, Andy Burnett and Matthew Benjamin – and Sovereign Properties Holdco, a business entity of the Chickasaw Nation, announced Dec. 16 they had purchased the downtown Oklahoma City landmark in conjunction with Paul Self, lead investor of the Colcord Hotel, and other local investors. Milwaukee-based Marcus Hotels and Resorts, which restored and reopened the hotel in 2007, announced it sold the property for $36.75 million.
Horse racing's new overseer hits speed bump in drug-testing
Oklahoma Horse Racing Commission Chair Joe Lucas applauded the disapproval of proposed drug-testing rules established by the new governing body for horse racing that had been set to go into effect Jan. 1. The Horseracing Integrity and Safety Authority planned to take over drug-testing enforcement in the 38 U.S. racing states starting Jan. 1. However, the Federal Trade Commission on Dec. 12 declined to approve rules involving the program established by the HISA. The FTC must approve rules for HISA's programs before they can be implemented and enforced. For the time being, HISA said its Anti-Doping and Medication Control program has been put aside.
Despite giant oil spill, push continues for more pipelines
TC Energy provides nearly daily updates on its efforts to clean up its recent oil spill in Kansas, but the incident continues to pour fuel on the political debate surrounding the company’s Keystone pipeline system. The company’s record regarding pipeline leaks provides ready talking points for environmentalists who opposed TC’s plans for its Keystone XL pipeline expansion project. Oklahoma’s congressional delegation, state leaders and industry heads continue to push for approval of the company’s pipeline permits. The Keystone pipeline released an estimated 14,000 barrels of oil – roughly 588,000 gallons – into a creek and pastureland in Washington County, Kansas, on Dec. 7. The spill will be particularly difficult to clean up due to the type of oil that was being transported through the pipeline: tar sands oil, also known as diluted bitumen.
Tyson Foods hires Smithfield COO Stewart
Tyson Foods has hired Smithfield Foods' former chief operating officer, Brady Stewart, to serve as Tyson’s new group president, Fresh Meats, the companies confirmed. Tyson is looking to harness Stewart’s abilities to strengthen the competitiveness of the company’s beef and pork business through innovation, technology, data and analytics, according to Tyson’s statement announcing the hire. Tyson employs about 3,500 Oklahomans. Smithfield sold off its major hog production operations in Texhoma to Prestige Farms in 2011, though the company still owns 10 farms in Oklahoma, contracts with one other and leases an additional farm.
Company prohibited from distributing drug products
The U.S. District Court for the Western District of Oklahoma entered a consent decree against Qualgen LLC, an Edmond outsourcing facility with a history of violations. The consent decree prohibits the company from directly or indirectly distributing adulterated drugs in interstate commerce. The consent decree entered against Qualgen, its majority owner, Shaun Riney, and its director of quality, Jasen Lavoie, follows a complaint filed by the U.S. Department of Justice on behalf of the U.S. Food and Drug Administration. The complaint asserts that Qualgen introduced into interstate commerce adulterated drugs that were manufactured, processed, packed or held under conditions that violate current good manufacturing practice, or CGMP, requirements.
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