Category Archives: Business

New Jobless Claims Unexpectedly Rise

The number of newly-laid off workers seeking jobless benefits unexpectedly rose last week, as the economy recovers at a slow and uneven pace.

Layoffs have slowed and the economy began to grow in last year’s third quarter, but companies are reluctant to hire new workers. The unemployment rate is 10 percent and many economists expect it to increase in the coming months.

The Labor Department said Thursday that initial claims for unemployment insurance rose by 36,000 to a seasonally adjusted 482,000. Wall Street economists expected a small drop, according to Thomson Reuters. 

The four-week average, which smooths fluctuations, rose for the first time since August, to 448,250.

The weekly claims figure is volatile and it can take time for trends to emerge. A Labor Department analyst said that much of the increase last week was due to administrative backlogs leftover from the winter holidays in the state agencies that process the claims.

Claims have dropped steadily since last fall, as companies cut fewer jobs. That has caused some economists to hope that hiring may increase soon. Initial claims have dropped by 50,000, or almost 10 percent, since late October.

Still, the economy is not consistently generating net increases in jobs. The Labor Department said earlier this month that employers cut 85,000 jobs in December, after adding only 4,000 in November. November’s increase was the first in nearly two years.

Many economists say the four week average of claims will need to fall to below 425,000 to signal that the economy is close to generating net job gains.

Meanwhile, the number of people continuing to claim regular benefits dropped slightly to just under 4.6 million. The continuing claims data lags initial claims by a week.

But the so-called continuing claims do not include millions of people who have used up the regular 26 weeks of benefits customarily provided by states and are now receiving extended benefits for up to 73 additional weeks, paid for by the federal government.

More than 5.9 million are receiving extended benefits in the week ending Jan. 2, the latest data available, an increase of more than 600,000 from the previous week. The data for emergency benefits lags initial claims by two weeks.

The increasing number of people claiming extended unemployment insurance indicates that even as layoffs are declining, hiring hasn’t picked up. That leaves people out of work for longer and longer periods of time.

Among the states, California saw the largest increase in claims, with 16,160. Texas, Florida, Pennsylvania and Georgia saw the next largest increases. The state data lags the initial claims data by a week.

Oregon saw the biggest drop in claims, of 5,784, followed by Iowa, Kentucky, Michigan and Massachusetts.

 

Tulsa Convention Center Wins National Award

The Tulsa Convention Center won a 2010 Facilities & Destinations Prime Site Award. The annual award is given to the top convention and exposition centers by Facilities Media Group, publishers of Facilities & Destinations magazine.

The awards are voted by the magazine’s readership of more than 51,000 meeting planners. The Tulsa facility was among more than 70 that won the award in the United States and Canada. The center also won in 2009.

The Convention Center recently finished construction on a 30,000 square-foot ballroom and the renovation to the existing facility. The ballroom is the largest in Oklahoma.

“The addition of the Tulsa Ballroom and the renovation to the Tulsa Convention Center makes downtown an even more exciting destination for visitors and residents. The additional space makes the Convention Center a better option for regional and national planners looking for large, flexible meeting and event space and those types of events help drive economic impact for the city,” said John Bolton, general manager of the center and the BOK Center.  

On Saturday, Jan. 16 from 10 am to 2 pm, an open house will be held to celebrate the opening of the new Tulsa Ballroom and completion of renovation on the existing facility. The public is invited.
 
 

BOK Up For Top Arena

altTulsa’s BOK Center has been nominated by Pollstar, the concert industry’s leading publication, for “Arena of the Year.”

The winner will be announced February 17 at the annual Pollstar awards ceremony in Los Angeles.

,It’s the second year in a row the BOK center, managed by SMG, has been nominated. Last year the downtown facility was nominated for “Best New Major Concernt of the Year.” The winner of that was the Nokia Theater in Los Angeles.
 
This year, the BOK Center is up against: Air Canada Centre (Toronto, ON), HP Pavilion (San Jose, CA), Madison Square Garden (New York, NY), Sommet Center (Nashville, TN), Sprint Center (Kansas City, MO), Staples Center (Los Angeles, CA), Xcel Energy Center (Saint Paul, MN)

 Again for the second year in a row, the BOC’s John Bolton was nominated for “Facility Executive of the Year” award.

“These awards are like the Oscars for people in our industry,” Bolton said. “It truly is an honor just to be nominated, but of course we would love to win.”
 

Applebee’s Teams Up For NonProfits

A local-based Applebee’s helped Jack and Jill of America raise more than $1,100 as part of the restaurant chain’s "Flapjack Fundraiser" program for nonprofits.

More than 160 people purchased the $7 tickets for the event, with all money going to support child growth and development projects.

“We are excited to help Jack and Jill of America in their efforts to raise funds and awareness for their cause,” said Michael Olander, President and CEO of Apple Gold Group. “The Flapjack Benefit Breakfast was very successful in raising funds needed to further their ongoing projects and spread the word to increase community involvement.”

 The Jack and Jill of America Flapjack Benefit Breakfast was recently hosted by the Applebee’s Restaurant located at 4733 S. Yale St. Breakfast includes a short stack of pancakes, sausage, coffee, juice and milk.

Applebee’s is partnering with any local non-profit organization as a way to raise money for their cause. From ticket sales to event-day staff, the breakfasts are managed by the non-profit organization with the assistance of Applebee’s employee volunteers.

Breakfasts can be held on any Saturday or Sunday morning, and cost the organization around $2 a meal. The Applebee’s Flapjack Breakfasts represent the restaurant chain’s latest efforts to remain active within its local neighborhood. To request a Flapjack Breakfast to benefit your non-profit organization, please visit www.AGGrestaurants.com.

Agreeing With The World, In Part

altRegular readers know Tulsa Today is the only substantive critic of the
daily newspaper active in Tulsa journalism (since 1996). We have often
taken them to task when we disagree, but have complemented them when –
on that rare occasion – we find their positions valid.

Sunday November 29, the daily provided an editorial column by Associate Editor Mike Jones on downtown growth under the headline, “Coming along.”  Kudos to Jones who wrote a good piece as far as it went.

 

altThe marquee projects complete and underway in downtown are stunning.  First of those, the new BOK Center, has proven beyond doubt that regional residents will support quality live music in Tulsa. The national acts are successful with high complements on attendance and the operational aspects of the venue.  Crowds at the smaller halls like Cain’s Ballroom and the several Tribal Casinos are growing – Tulsa loves good entertainment. 

As Governor Brad Henry has changed the dynamic of Oklahoma life from the buckle of the Bible belt to that of a gambling Mecca; the challenge now is to develop historic attractions and general family entertainment opportunities – assuming we are smart enough to follow market leader Las Vegas. The State, various Tribes and private tourism entrepreneurs must get busy in developing ways to lengthen visitor stays and solicit visitors worldwide.  There is real history to Oklahoma that we have been bizarrely shy (apparently since “Grapes of Wrath” was published) about promoting.  The Tribes cannot maintain casino revenue solely off the backs of local gambling fans.

The City of Tulsa’s new ballpark “ONEOK Field” is taking shape and should be fun despite questions on the financing that could and maybe should end up in court.  Our Tulsa Drillers team draws the best attendance in Double-A ball and many believe the new park will be highly successful.  Like Jones, I will attend the games and I look forward to the 2010 opening.

Jones praises the Mayo Hotel’s rebirth.  The new restaurant, Trula, is open to good report. The Mayo also offers residential housing and we are looking forward to additional neighbors.

Three other residential projects downtown are funded in part from Vision 2025.  The other two are struggling because of the current capital crunch, but rather than help those projects avoid failure or delay Mayor Taylor funded another new residential project across from the ballpark this week.  That may not have been the best course of action, but it is good to be queen some suspect the mayor mutters departing after a single term.

Tulsa Today is looking forward to the development, “One Place” which is planned for the block between Denver and Cheyenne and Second and Third Streets.  However, the daily newspaper has hailed many more announced projects for downtown over the years than have come to pass.  It’s not the newspaper’s fault really, any fool with a plan can issue a press release – our excitement awaits the beginning of construction.

Elliot Nelson continues to open new dining establishments – some more successful than others, but each contributing to the growing texture and diversity of a vibrant downtown.  There are new sandwich shops it seems opening each week (an exaggeration primarily in amazement).  Jones’ column lists many, but there is more to downtown than dining.  Retail business is growing.

altThere are several bicycle shops downtown and a new/old shop coming we can not yet tell you about.  Banks and lawyers abound in downtown – generally nice people despite their chosen careers.  The Downtown Tag Agency is a successful growing operation.  You can get a haircut at Hair On The Square on 5th Street and buy office supplies next door or at Ridgeways, 111 South Detroit.  Avis rents great cars at a historic Route 66 location on 6thand Detroit.

There are several copy shops and a long established Edward Jones office at 115 West 3rd operated by Financial Adviser Chuck Graham, AAMS.  Graham reports brisk business even in this changing economic environment.  Our favorite retailer may be Mary Beth Babcock of Dwelling Spaces for eclectic living, clothing and other fun stuff.

The self-serving part of Jones’ column is the criticism of critics.  Yes, downtown Tulsa has critics which are primarily contrarians in addiction to their own ambitions for leadership. (Repeatedly defeated by voters, they whine.)  Jones,of course, takes pride in the projects supported by his newspaper, but that paper supports everything utilizing tax dollars and/or other people’s money confident in Liberal superiority. 

The question we have is when the daily newspaper will decide to do something beside provide coverage for other good works in downtown.  God knows, they are making money publishing,but their ownership seems to prefer spending profits in Texas or on some fancy yacht it takes thirty employees to sail.  (Ok, so the family spends millions on their private homes, but we don’t think that counts.)

altJones is correct in noting the crime level downtown is lower than any other section of the city.  Parking is more convenient than in any other major city, but yes, spoiled suburbanites may have to walk a few blocks.  (Get over it; it’s good for your health.)

Now approaching nine years, I have lived and worked downtown and I love it.  I have seen the growth and I help individual developers who ask with detailed history, introductions and suggestions that aid in their success.  I confronted drug dealers and panhandlers on the streets in the beginning, but they haven’t been seen on the streets now in years.  Jokingly calling the early days “urban assault living” because of some of the challenges and grateful for owning an off-road vehicle during periods of massive street repair, even the bad times downtown were good.

altA friend of mine from a nearby neighborhood once rode her bicycle downtown to bring her husband lunch at the Williams Towers. As she dismounted, two missionaries rushed her offering lunch.  After introductions and explanation of her mission that day they went on with their efforts to minister elsewhere, but downtown dwellers would like the general public to know that everyone dressed casually or on a bicycle is not necessarily homeless or in need of charity.  Sometimes we are just hanging out like you do in your neighborhood.

Consider, as Tulsa approaches 2010, that downtown Tulsa holds more potential for private development success than any other area of the city.  As more people live downtown, that success grows.  Those individual decisions to live the urban life add heartbeats to the streets and Tulsa’s heart is very much alive.