PARSIPPANY, N.J.–Wyndham Hotel Group has issued the following news release:

Wyndham Hotels and Resorts (http://www.wyndham.com/) today announced its continued expansion in North America with the opening of its first hotel in Oklahoma: the 244-room Wyndham Garden Hotel Oklahoma City Airport. (www.wyndham.com/hotels/OKCAP/main.wnt)

"Oklahoma’s capital continues to be one of the Midwest’s most dynamic travel hubs," said Jeff Wagoner, president of Wyndham Hotels and Resorts.

"With the addition of Wyndham Garden Hotel Oklahoma City Airport to our growing portfolio, we are now able to provide visitors with the personalized service and style that has become a hallmark of the Wyndham brand."

Owned and operated by Fianna Oklahoma, LLC, the newly renovated hotel underwent a multi-million dollar renovation before joining the Wyndham system.

Guest rooms feature complimentary high-speed wireless Internet access, 32-inch flat-screen televisions, Wyndham signature BeWellTM bedding and granite bathroom countertops.

The property also features a 24-hour airport shuttle, state-of-the-art business and fitness centers, heated indoor pool, game room, laundry service, shoe-shine service, express check-out and more than 7,000 square feet of meeting space, with the largest room capable of accommodating up to 500 guests.

Dining options include an Eat. Refresh. Live.SM Wyndham Cafe offering causal American fare for breakfast, lunch, dinner and cocktails as well as Juniper’s, the hotel’s full-service restaurant, featuring classic American cuisine for breakfast, lunch and dinner. Room service is also available.

The Wyndham Garden Hotel Oklahoma City Airport at 2101 South Meridian Ave. is just three miles north of Will Rogers World Airport, less than five miles from the Bricktown Entertainment District, Cox Business Services Convention Center, Ford Center and the Oklahoma City Memorial.

The Wyndham brand’s guest recognition program, Wyndham ByRequest www.wyndhambyrequest.com/, offers complimentary benefits including free high-speed Internet access, a choice of welcome snack and beverage, preferred pillow type, express check-in, guaranteed late check-out, local and long-distance calls, best available room upon arrival, photocopies, faxes and online receipts.

Members also earn Wyndham Rewards� points, which can be redeemed for free hotel stays, airline tickets, name-brand merchandise and dining and shopping gift cards, among other options. In lieu of points, members may elect to earn airline or rail miles with a variety of partners. More information is available at www.wyndhamrewards.com.

Additional information and reservations for all Wyndham hotels are available by calling (800) WYNDHAM– (800) 996-3426–or visiting www.wyndham.com.

Wyndham Hotels and Resorts, LLC and its affiliates, part of the Wyndham Worldwide family of companies (NYSE: WYN), offers upscale hotel and resort accommodations throughout the United States, Europe, China, Canada, Mexico and the Caribbean. All hotels are either franchised or managed by Wyndham Hotels and Resorts, LLC or an affiliate. For additional information or to make a reservation, go to www.wyndham.com

The heart of Green Country, Tulsa, boasts of being ranked the No.1 place to live by Relocate America.

This list of top 100 places to live is compiled on the basis of housing markets, local economy, and recreational and cultural activities that determine decisions of  house buyers as well as sellers.
For the region, this has become a great selling point.

It is important for Tulsans to comprehend the numerous factors behind such rankings as the performance of Tulsa’s local economy in recent times has exceeded general expectations of people.

In the past five to seven years, the local economy had done better than the state of Oklahoma and the nation as a whole.

A comparison can be made between Tulsa MSA (metropolitan statistical area) and similar size MSAs with comparable populations.

Across the country, Dayton (OH), Albany(NY), Fresno (CA), Albuquerque (NM) and Honolulu (HI) have comparable population numbers (between 837,000 and 917,000) as Tulsa.

Therefore, these regions may be considered as ‘sister regions’ as far as population goes.

These regions may vary as far as their labor force characteristics and work culture are concerned.  Nevertheless, as the classical economists like to phrase ‘with everything else being constant or equal,’ what follows is an interesting as well as insightful comparison of the economic health of these regions.

Here’s a look at the annual percentage change in total employment and personal income between 2001 and 2007 for these regions.

Tulsa MSA experienced a 41 percent increase in personal income and a 7 percent increase in total employment as against 34 percent and 9 percent in case of the whole nation.  Tulsa MSA also outperformed all its sister regions and stood strong in comparison to the state’s numbers.

Another benchmark comparison is between the GDP# growth rates.  Tulsa’s annual GDP growth rates have constantly been higher than that of the US since the middle of 2003.

More surprisingly, Oklahoma City’s growth rates experienced a steep fall between 2004 and 2005 exactly at the time when Tulsa experienced a steep rise. Here again, we see that Tulsa outperforms all its sister regions.

Local unemployment rates have consistently been the lowest in Tulsa among the neighboring areas- Lawton and Oklahoma City.  Even when unemployment was shooting up nationally during 2007 and 2008, Tulsa maintained its lowest unemployment rates in almost five years.

All of these above are economic factors that contribute to the attractiveness of a region.  Besides, Tulsa is home to the performing arts center, ballet and arenas that host a multitude of shows that attract tourists from nearby regions.

It is all these factors combined with the overall quality of life that contributes to Tulsa being the No.1 place to relocate.

This also points to the fact our local region has not been as adversely impacted by the current economic times.

This year our economy has seen the worst financial times since the Great Depression of the 1930s.  Government is floating stimulus money to all states.  There are two categories of the federal Government spending:

1. Social spending that includes spending on

– Education
– Housing and Urban Development
– Health
– Crime Fighting
– Job Training
– Arts
– Food and Farming

2. Infrastructure spending that includes spending on

– Transportation
– Water
– Energy
– Military
– Veteran Spending
– Government
– Outdoors
– Emergency Shelters

The largest portion of the federal stimulus money is expected to go towards education and transportation ($113.6 billion).  The second largest portion will be spent on housing and urban development, health and energy ($55.0 billion).

The state of Oklahoma will receive about $2.35 billion in Government stimulus money.  About 62 percent of this money will be spent on education and transportation while 19 percent will be spent in the health care and energy sectors.

A lot is going on in the energy sector and it is encouraging to see money being invested into higher education for training aspiring technicians and engineers in this sector.

Recently, the Oklahoma Department of Commerce was awarded $400,000 from the U.S. Department of Energy to develop a wind technician safety curriculum to be designed and implemented with the Oklahoma Department of Career and Technology Education and the Oklahoma Regents for Higher Education.

The Department of Energy report says "Oklahoma has the potential to become the second-largest wind energy producer, providing almost 10 percent of the nation’s electricity needs by 2030."

The Department of Commerce expects the state’s emerging wind industry to create 7,000 jobs over the next five years and up to 18,000 jobs within 10 years, with a significant portion of them occurring in Oklahoma’s advanced manufacturing sector.

This size of direct spending in the region will not only create direct jobs but also a substantial number of indirect jobs, and increased household earnings.

Every dollar spent has a ripple effect on the economy not just within the impacted region but also on the neighboring regions.

When new jobs are created a region’s attractiveness increases manifold and subsequently new businesses start looking at it as a place of destination.

Business interactions, as we know, transverse regional and economic boundaries.

It remains to be seen how Green Country will benefit from this spending and also whether or not the spending areas have been targeted precisely.

Only time will tell.

An economic impact analysis of this spending could be performed, but at the moment it is beyond the scope of this article.

Nevertheless, it is a topic of future research and this series of articles may address it in subsequent issues.

About the author
The author welcomes comments and suggestions on the article as well as requests for topics for future articles.  The author may be contacted at ananta.kirikera@gmail.com.

Learn more about Ananta by reading her biography.

Last Updated ( Wednesday, 12 August 2009 )

The U.S. Department of Labor has issued the following news release:

SEASONAL DATA
In the week ending Aug. 1, the advance figure for seasonally adjusted initial claims was 550,000, a decrease of 38,000 from the previous week’s revised figure of 588,000.

The 4-week moving average was 555,250, a decrease of 4,750 from the previous week’s revised average of 560,000.

The advance seasonally adjusted insured unemployment rate was 4.7 percent for the week ending July 25, unchanged from the prior week’s unrevised rate of 4.7 percent.

The advance number for seasonally adjusted insured unemployment during the week ending July 25 was 6,310,000, an increase of 69,000 from the preceding week’s revised level of 6,241,000.

The 4-week moving average was 6,278,750, a decrease of 148,500 from the preceding week’s revised average of 6,427,250.

The fiscal year-to-date average for seasonally adjusted insured unemployment for all programs is 5.522 million.

UNADJUSTED DATA
The advance number of actual initial claims under state programs, unadjusted, totaled 463,062 in the week ending Aug. 1, a decrease of 48,296 from the previous week.

There were 382,792 initial claims in the comparable week in 2008.

The advance unadjusted insured unemployment rate was 4.5 percent during the week ending July 25, a decrease of 0.1 percentage point from the prior week.

The advance unadjusted number for persons claiming UI benefits in state programs totaled 5,987,728, a decrease of 116,319 from the preceding week. A year earlier, the rate was 2.4 percent and the volume was 3,166,763.

Extended benefits were available in Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, the District of Columbia, Florida, Georgia, Idaho, Illinois, Indiana, Kansas, Kentucky, Maine, Massachusetts, Michigan, Minnesota, Missouri, Montana, Nevada, New Jersey, New York, North Carolina, Ohio, Oregon, Pennsylvania, Puerto Rico, Rhode Island, South Carolina, Tennessee, Texas, Vermont, Virginia, Washington, and Wisconsin during the week ending July 18.

Initial claims for UI benefits by former Federal civilian employees totaled 1,661 in the week ending July 25, a decrease of 30 from the prior week.

There were 1,981 initial claims by newly discharged veterans, a decrease of 80 from the preceding week.

There were 19,783 former Federal civilian employees claiming UI benefits for the week ending July 18, an increase of 1,066 from the previous week.

Newly discharged veterans claiming benefits totaled 30,107, an increase of 175 from the prior week.

States reported 2,754,391 persons claiming EUC (Emergency Unemployment Compensation) benefits for the week ending July 18, an increase of 97,512 from the prior week.

There were 607,368 claimants in the comparable week in 2008.

EUC weekly claims include both first and second tier activity.

The highest insured unemployment rates in the week ending July 18 were in Puerto Rico (8.0 percent), Michigan (6.7), Oregon (6.5), Pennsylvania (6.5), Nevada (6.1), Wisconsin (5.7), Connecticut (5.5), New Jersey (5.5), California (5.4), Rhode Island (5.3), and South Carolina (5.3).

The largest increases in initial claims for the week ending July 25 were in Ohio (+891), Oklahoma (+644), Mississippi (+222), Louisiana (+154), and Alaska (+129), while the largest decreases were in North Carolina (-9,809), Michigan (-9,085), Florida (-8,714), Georgia (-6,948), and Alabama (-3,822).

Tables omitted. (The complete tables can be viewed at: http://www.dol.gov/opa/media/press/eta/ui/eta20090907.htm)

photo credits: general stock photo from web.

Last Updated ( Friday, 07 August 2009 )

American Electric Power Corp. issued the following news release:

American Electric Power (NYSE: AEP) today reported 2009 second-quarter earnings, prepared in accordance with Generally Accepted Accounting Principles (GAAP), of $316 million, or $0.67 per share, compared with $281 million, or $0.70 per share, for second-quarter 2008.

Ongoing earnings (earnings excluding special items) for second-quarter 2009 were $321 million, or $0.68 per share, compared with $280 million, or $0.70 per share, for second-quarter 2008.

The second-quarter 2009 per-share results reflect the dilutive effect of additional shares outstanding, which reduced ongoing earnings by $0.12 per share when compared to the prior year.

GAAP earnings were lower than ongoing earnings by $5 million for the quarter, primarily because of the reapplication of cost-of-service regulation for the generation portion of electric utility service for the Texas jurisdiction of AEP’s Southwestern Electric Power Co. utility.
A full reconciliation of GAAP earnings to ongoing earnings for the quarter and year to date is included in tables at the end of this news release.

"We’re pleased with our results for the quarter in light of the continued weak economy," said Michael G. Morris, AEP chairman, president and chief executive officer. "Our ongoing earnings for the quarter increased from the same period last year, and earnings per share were comparable to last year’s even with a greater number of shares issued. The increase is attributed to improved rate structures in a number of our states and to our successful efforts to control costs.

"But the effects of the weak economy are obvious," Morris said. "Electricity sold to industrial customers decreased from the same period last year. Off-system sales – electricity sold into the wholesale market – were down significantly from last year."

EARNINGS GUIDANCE

AEP reaffirmed its ongoing earnings guidance range for 2009 of between $2.75 and $3.05 per share. In providing ongoing earnings guidance, there could be differences between ongoing earnings and GAAP earnings for matters such as, but not limited to, divestitures or changes in accounting principles. AEP management is not able to estimate the impact, if any, on GAAP earnings of these items. Therefore, AEP is not able to provide a corresponding GAAP equivalent for earnings guidance.

SUMMARY ONGOING RESULTS BY SEGMENT

For details click here: (http://www.aep.com/newsroom/newsreleases/?id=1557)

Ongoing earnings from Utility Operations increased by $63 million in second-quarter 2009 when compared with the same period last year, primarily because of increased rates in AEP’s utilities in Virginia, Indiana and Oklahoma; the implementation of the Electric Security Plan (ESP) approved by regulators in Ohio, including the activation of a fuel clause; and lower operation and maintenance expenses.

These favorable items were somewhat offset by a reduction in both sales to industrial customers and off-system sales and the growth in capital-driven other expenses, such as depreciation and interest expenses, from the prior period.

AEP River Operations’ ongoing earnings were lower than in the same period last year because of reduced imports, which reduce barge freight demand, pressure spot market freight rates and increase the costs of relocating empty barges.

Ongoing earnings for Generation and Marketing decreased $22 million during second-quarter 2009 from the same period last year primarily because of lower gross margins from marketing activities, lower power prices in the Electric Reliability Council of Texas (ERCOT) and an extended planned outage at the Oklaunion Power Station. Earnings from wind farms were lower as a result of decreased wind generation and increased curtailments. Generation and Marketing includes AEP’s non-regulated generating, marketing and risk management activities, primarily in the ERCOT area.

All Other, which includes the parent company and other investments, was favorable in second-quarter 2009 when compared with the same period last year.

ONGOING RESULTS FROM UTILITY OPERATIONS

For details click here: (http://www.aep.com/newsroom/newsreleases/?id=1557)

Retail Sales – Results for second-quarter 2009 were improved from the same period last year primarily because of the impact of rate changes in Virginia, Indiana and Oklahoma and the implementation of the Ohio ESP, which includes the activation of a fuel clause at the Ohio Companies. The positive impact of the rate changes was somewhat offset by lower sales to industrial customers. Favorable weather, primarily in AEP’s eastern service areas, improved margins in the quarter. Heating degree-days in second-quarter 2009 were 9 percent below normal but 15 percent above the total for the same period in 2008. Cooling degree-days in second-quarter 2009 were 5 percent above normal and 8 percent above the prior period. In AEP’s western service areas, cooling-degree days for second-quarter 2009 were 2 percent above normal but 1 percent below the prior period.

Off-System Sales – Gross margins from Off-System Sales for second-quarter 2009 were $155 million lower than those in the same period last year. Volumes and prices were depressed by continued weak market demand.

Transmission Revenues – Revenues from transmission increased $8 million in second-quarter 2009 from the prior period, primarily from AEP’s transmission in the ERCOT and Southwest Power Pool regions.

Other Operating Revenue – The increase in Other Operating Revenue from second-quarter 2009 is because of a variety of non-tariff revenues, including the receipt of accidental outage insurance payments related to the September 2008 turbine vibration and subsequent fire at the Cook Nuclear Plant.

Operations & Maintenance Expense – Operations & Maintenance Expense for the quarter decreased $35 million from the same period last year, primarily because of lower plant outage expenses than in the prior period.

Depreciation & Amortization – The increase in Depreciation & Amortization from second-quarter 2008 is primarily attributed to an increase in plant balances and a higher depreciation rate at Ohio Power.

Interest Expense & Preferred Dividends – The increase in Interest Expense for second-quarter 2009 is primarily because of increased long-term debt and higher interest rates.

Other Income & Deductions – Other Income & Deductions decreased in second-quarter 2009, primarily because of interest income related to a claim for a federal tax refund in 2008 and lower carrying-cost income.

WEBCAST

American Electric Power’s quarterly conference call with financial analysts will be broadcast live over the Internet at 9 a.m. EDT today at http://www.aep.com/go/webcasts. The webcast will include audio of the conference call and visuals of charts and graphics referred to by AEP management during the call. The charts and graphics will be available for download at http://www.aep.com/go/webcasts .

The call will be archived on http://www.aep.com/go/webcasts for those unable to listen during the live webcast. Archived calls also are available as podcasts.

Minimum requirements to listen to broadcast: The Windows Media Player software, free from http://www.aep.com/go/webcasts, and at least a 56Kbps connection to the Internet.

AEP’s earnings are prepared in accordance with accounting principles generally accepted in the United States and represent the company’s earnings as reported to the Securities and Exchange Commission.

AEP’s management believes that the company’s ongoing earnings, or GAAP earnings adjusted for certain items as described in the news release and charts, provide a more meaningful representation of the company’s performance. AEP uses ongoing earnings as the primary performance measurement when communicating with analysts and investors regarding its earnings outlook and results.

The company also uses ongoing earnings data internally to measure performance against budget and to report to AEP’s board of directors.

-Full news release and supplemental tables (http://www.aep.com/newsroom/resources/earnings/2009-07/2ndqtr09earnings.pdf)

Last Updated ( Wednesday, 05 August 2009 )

ADA, Okla. — The Chickasaw Nation, a federally-recognized Native American tribe, has issued the following news release:

The Chickasaw Nation will host its 9th annual Ada Area Job Fair 10 a.m. to 2 p.m. Thurs., Aug. 27, at the Chickasaw Community Center, 700 north Mississippi, Ada, Okla.

"If you have been looking for a career that you can be proud of, then come out and see what the Ada Area Job Fair has to offer you," said Darrell Walker, manager of Chickasaw Nation career services department.

More than 50 employers are seeking workers with varying levels of skills and experience in a wide variety of fields including health care, finance, retail, transportation, customer service, distribution, mechanical, food services, construction, manufacturing, oil field, industrial maintenance, and more.

This event will be open to the public and no prior registration is needed.  Come dressed for success and ready for a job interview to be conducted on site by many of the participating businesses.

"This is a great opportunity to find a job in the rough economic atmosphere or if you have a job to find a new job that would advance your career to the next level," said Walker.

Vendors wishing to obtain a booth space need to pre-register by contacting Darrell Walker at (580) 436-7294.

The 9th annual Ada Area Job Fair is sponsored by The Chickasaw Nation, Oklahoma Employment Security Commission, Southern Workforce Board, Oklahoma Department of Human Services, Citizens Bank, McCall’s Chapel, and Murray State College.

For more information, contact Mari Plumlee at 580-272-0733 or Darrell Walker at 580-436-7294.