Business Briefs (Week of Feb. 24)
Monday, February 27, 2023
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Posted by: Jen Gilliland
Looking for business briefs? This week's roundup (for the week ending Feb. 24) from The Journal Record.
Bricktown Ballpark to celebrate milestone season
The Oklahoma City Dodgers will celebrate the 25th anniversary of Chickasaw Bricktown Ballpark this season with various promotions and the creation of an Oklahoma City Triple-A Baseball Hall of Fame. The season opener will be against the Tacoma Rainiers at home on March 31 – the earliest opening day anyone in the organization remembers. The Bricktown Ballpark is one of the original MAPS projects, completed in 1998 at a cost of $34 million. This 25th season is also Oklahoma City’s eighth year with the Dodger organization.
Tulsa’s Williams, Chevron team to support NG development
Tulsa-based Williams and Chevron U.S.A. Inc. announced an agreement to team in support of natural gas development in the Haynesville Basin and Gulf of Mexico. Williams will provide natural gas gathering services to Chevron’s 26,000-acre Haynesville dedication while Chevron has agreed to a long-term capacity commitment on Williams’ Louisiana Energy Gateway (LEG) project, the companies said in a joint release. Additionally, Williams has agreed to use existing infrastructure to serve increased production from the Blind Faith platform, located 160 miles southeast of New Orleans in the deepwater Gulf.
Bill proposes incentive to firms for child care help
Employers that help their workers with child care expenses would be eligible for a tax credit if House Bill 2451 passes. HB 2451, by state Rep. Suzanne Schreiber, D-Tulsa, was approved by the Oklahoma House Appropriations and Budget Finance – Revenue and Taxation Subcommittee. Schreiber's bill would provide a tax credit for 30% of the amount expended by employers for assistance they provided employees for child care. Employers that provide a child care facility for employees also would receive a 30% tax credit for related expenditures.
Williams reports $2.046B net in full-year 2022 earnings
Tulsa-based Williams Cos. announced unaudited financial results for the three- and 12-month periods that ended Dec. 31, 2022. Full-year 2022 financial results included net income of $2.046 billion, up 35% from 2021, and adjusted net income of $2.228 billion, up 34% from 2021. Fourth-quarter results included net income of $668 million and adjusted net income of $653 million, up 37% and 36% respectively from the final quarter of 2021.
State launches new marketing campaign to attract visitors
Oklahoma is set to kick off a new multistate tourism marketing campaign featuring homegrown music and attractions ranging from “birdhouse cottages” in Medicine Park to the Rollie Pollie Ice Cream Shop in Tahlequah. The “Imagine That” campaign, the first of its scale launched by the Oklahoma Tourism and Recreation Department since 2015, will benefit from music produced by Sooner State artists like Muskogee composer Aaron Newberry and Oklahoma City violinist and vocalist Kyle Dillingham. It also will feature scenery from all corners of the state, from Gloss Mountain State Park in Fairview to the Sequoyah State Park Nature Center in Hulbert.
Restaurant not liable for deadly bar bet
A restaurant where a man was overserved by staff members who then bet him $200 to drive cannot be held liable for the man’s death on an Oklahoma highway that night, the Oklahoma Supreme Court has ruled. But the court’s ruling divided the court 5-4, spurring some justices to call on the Oklahoma Legislature to change the law.
Overcapacity animal shelters struggling with no relief in sight
In Oklahoma City and across the state and nation, animal shelters have been running at well beyond their capacity to care for cats and dogs, and many have had to resort to euthanasia to alleviate conditions. Part of the problem dates to the outbreak of the pandemic, when many people stuck at home adopted pets as companions. Later, as they returned to work, many found that they were ill-equipped to keep them. Tight family finances also likely have played into decisions made to return animals to shelters. In Oklahoma City, Gary said the shelter, the largest in Oklahoma with nearly 20,000 cats and dogs entering annually, continues to see its population count hover at between 130% and 160% of capacity.
Death penalty poll shows shifting attitudes in Oklahoma
Results of a poll indicate the majority of Oklahomans favor life in prison over the death penalty, revealing attitudes toward the death penalty in Oklahoma are changing – both among voters and state leaders. The results were shared with the media at the state Capitol by the Oklahoma Chapter of Conservatives Concerned About the Death Penalty and state Rep. Kevin McDugle, R-Broken Arrow. The poll found 77% of those surveyed would support a pause on executions to ensure that the process is fair and just. McDugle said he’s not trying to abolish the death penalty but would like to see a moratorium on executions in the state until reforms are made. The poll, conducted by Cole Hargrave Snodgrass & Associates, surveyed 500 registered voters from Jan. 2-5, 2023. The poll found that replacing the death penalty with a life sentence without the possibility of parole starts at a majority (51%) support level in Oklahoma, with 29% strongly supporting and 22% somewhat supporting the change.
Unpaid overtime in Oklahoma: $2.2B
Oklahoma workers are owed more than $2.2 billion in unpaid overtime compensation, according to a new study. The national study of 3,000 workers conducted by the California law firm Bisnar Chase reveals the average Oklahoma employee in the private sector worked 2.8 hours of unpaid overtime per week in 2022. The national average was 2.1 hours. Those 2.8 hours per week equal more than 3½ weeks of unpaid work. Based on the state’s median wage, Oklahoma workers collectively are owed $2,266,999,693 in backpay for 2022, the study shows. Adam Childers, a labor attorney with Crowe & Dunlevy in Oklahoma City, said it’s a problem as old as the federal wage and hour laws, which are some of the least understood laws.
National monument status sought for Tulsa’s Greenwood District
Tulsa’s Greenwood District should be declared a national monument, according to signers of a letter sent to President Joe Biden. After thanking Biden for visiting Greenwood on the 100th anniversary of the 1921 Tulsa Race Massacre, community leaders asked the president to declare the Historic Greenwood District, also known as Black Wall Street due to its history of once being the most prosperous Black-owned business district in the nation, as a national monument.
WinStar awards naming rights to planned entertainment venue
The WinStar World Casino and Resort and Lucas Oil Products announced an agreement that includes naming rights for WinStar’s new events arena, set to open this year. The casino-resort’s new 6,500-seat entertainment venue will be called Lucas Oil Live. According to a release, it will be a 250,000-square-foot facility with state-of-the-art sound and lighting. Its concourse will adjoin WinStar’s newly opened, 304-room Spa Tower Hotel and will be a short walk to restaurant and bar amenities.
Education plans advance through Oklahoma Legislature
Plans to expand parental choice without providing vouchers are progressing through the legislative process with the support of lawmakers representing rural communities – but without the support of Democrats who argue education dollars would still be distributed unfairly. House Speaker Charles McCall’s plan would provide a $5,000 annual tax credit per student for parents who pay private school tuition; parents of students attending public school or home school would receive a $2,500 tax credit. House Bill 1935, dubbed the Oklahoma Parental Choice Act, also would allow parents to request an advance on the tax credit to help pay for the upcoming semester.
In Oklahoma, more can afford million-dollar homes
A record 4.2 million houses in the U.S. – about 5% – are now worth $1 million or more. The number doubled from 2017 to 2021, according to U.S. Census data. Today’s Homeowner looked at the share of these expensive homes by state and gaps in affordability. It found million-dollar homes are most prevalent in California and Hawaii, where nearly 1 in 4 are in that price range. In Oklahoma, only 0.9% are valued at $1 million or more but 5% of residents can afford them, the report showed.
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