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The Journal Record Daily Update
Today
Oklahoma's HQ Curse
Can Devon Energy escape Oklahoma's headquarters curse? As the Oklahoma City-based energy giant advances toward its $350 million construction project, it crosses swords with one disturbing trend in this state's office market. Over the last quarter century, few if any Oklahoma companies have successfully completed a significant headquarters project without flirting with bankruptcy or being sold. Often their signature structures also undergo significant cost cuts before completion.
Oklahoma Co. '08 foreclosures top 2007 by nearly 19 pct
The number of foreclosures in Oklahoma County so far this year has topped all of 2007 by 18.7 percent, according to the latest data from real estate information service Foreclosures.com. If foreclosure activity continues at that pace through the end of the year – as suggested by Foreclosures.com data on pre-foreclosure filings – lenders will have taken back more than 4,400 homes in Oklahoma County by Jan. 1.
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Henry: Don't worry, spend money
Don't worry, spend money. That was Gov. Brad Henry's message to Oklahomans on Thursday. Oklahoma's economy is doing better than that of most states, so don't put off making major purchases, said Henry and state Treasurer Scott Meacham.
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Ponzi scheme suspects face enforcement action by OSD
The people behind an alleged Ponzi scheme that regulators say cost investors more than $40 million now face an enforcement action filed by the Oklahoma Securities Department. On Wednesday, agency Administrator Irving Faught asked the Oklahoma County District Court for a permanent injunction and other relief against Powder River Petroleum International Inc. and CEO Brian Fox, a Canadian, alleging various claims related to securities fraud.
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The question: To brick or not to brick in Bricktown
The façades of all new buildings in Bricktown should be made of brick, and Avis Scaramucci will accept nothing less. Scaramucci is the new chairwoman of the Bricktown Urban Design Committee, and a business owner in the district. She's not willing to compromise on the signature component that defines Bricktown.
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Henry distances self from Rice, Inhofe race
Gov. Brad Henry said he doesn't want to get further involved in a political contest he said has "turned thoroughly nasty." Henry praised state Sen. Andrew Rice, D-Oklahoma City, who is challenging longtime U.S. Sen. Jim Inhofe, R-Okla., for the seat Inhofe currently holds representing Oklahoma in Congress. But that's about as far as Henry wants to go into a campaign that has become noteworthy for the negative campaign ads produced by both candidates.
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