Category Archives: Business

US Debt Crushing Economy

By Mike Mazzei

The debt of the United States of America now exceeds $34 trillion, and– for the first time in American history– the government has to borrow 100% of the money needed to fund regular operational expenses of $1.5 trillion.

What a sad and disturbing mess! New Speaker of the House Mike Johnson is setting up a bi-partisan debt commission to work on ideas to get our fiscal house in order. “The greatest threat to our national security is our nation’s debt,” Johnson said during his first speech from the speaker’s dais in the House chamber. “We know this is not going to be an easy task and tough decisions will have to be made, but the consequences—if we don’t act now—are unbearable.”

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ESG Agenda Risky Business

By OK State Treasurer Todd Russ

The Oklahoma State Treasurer’s office will continue improving Oklahoma’s economy and public investments through time-tested strategies to increase our state’s growing $15.5 billion portfolio. Today’s investment landscape contends with environmental, social and governance or ESG. An idea that once addressed only social responsibility, the name grew in scope and prevalence to become a big part of today’s public narrative. Keeping ESG out of investing is necessary due to its broad goal complexity, unmanageable reporting framework and heavy-handed mandates.

ESG is not intended to create shareholder value. During the November Board of Trustees meeting of the Teachers’ Retirement System, members voted to divest $184 million in pension funds because certain financial institutions were deemed by my office to be supporting ESG causes negative to Oklahoma industries Joseph Cappello, Deputy Chief Investment Officer, told the Teachers’ Retirement System board,

“We are very comfortable if you choose to divest.” Cappello detailed the $123 million in index funds would cost the system $32,700 or 0.026 percent to divest, the $61 million bond portfolio has no estimated cost, as selling this security traditionally has no commissions.

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Will the next mayor force lockdowns?

By David Arnett

Analysis: Lockdown advocates now say they were wrong, But not Tulsa Mayor G.T. Bynum.

The Epoch Times reported Monday, Nov. 27 on several experts admitting they were wrong for supporting COVID lockdowns. Unfortunately, that doesn’t include officials in Oklahoma like Tulsa Mayor G. T. Bynum. As this editor wrote in September, we are still waiting for Mayor Bynum to correct his mistake. Dear mainstream media, in now proven fact, Oklahoma Gov. Kevin Stitt was right, Tulsa Mayor Bynum was wrong.

Today the question is still on the table: When will the City of Tulsa make right with small businesses, churches and citizens harmed by the unscientific and, now proven unjustified lockdown during the COVID Panic?

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Drummond South Ranch for Sale

By David Arnett

It is a stunning property, huge, historic, and owned by the family of Oklahoma’s current Attorney General, but why, after 100 years, would it go up for sale? Some speculate the McGirt Decision or the new feature movie, “Killers of the Flower Moon,” may have come into consideration. Others suggest it is economics or aging leadership or could it be politics? Over 8,000 acres are under fence, just a thirty-minute drive from Tulsa.

From ethics reports, Attorney General Gentner Drummond loaned his campaign millions. In Oklahoma, you can earn 10% on that money as it may be paid back from contributors, but that is a lot of money out-of-pocket by any standard. Is this property sale to pay campaign debt or finance a bid for governor?

AG Drummond was the beneficiary of dark money with tribal connections and outright donations from tribal leaders. Is it possible that from his personal perspective, the McGirt Decision may return ownership of land to native tribes? That happened in South Africa where land owned for generations by farmers was given to native people once the South African Courts got involved. Is all Northeast Oklahoma, to say nothing of Tulsa, at risk? Does the family see writing on the wall?

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Tulsa August Rental Activity Jumps

By David Arnett

Renting is now the new buying, thanks to Bidenomics, as high home prices and the peak rental season bring out more renters looking for apartments. But, which cities are seeing the most listing activity and attracting the most attention from apartment hunters?

For the first time ever, Tulsa has entered the list of the top 30 most popular cities for renters, after climbing a remarkable 48 places since last month. This month it ranks 28th, surpassing much bigger renter hubs, such as Manhattan, NY, in terms of popularity. 

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