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Articles by Russell Ray
Oklahoma Jobless Claims Dip, But High Unemployment Will Persist
This is the Business Intelligence Report, a weekly conversation about business news in Oklahoma. Joining me this week is Russell Ray, editor of The Journal Record. The coronavirus pandemic has ravaged the economy. By the end of this month we could be talking about levels of unemployment not seen since the worst days of the Great Depression. About 100-thousand Americans are dead as a result of COVID-19, even as the nation and our state attempt to slowly reopen.
Where's the beef... and pork and poultry?
COVID-19 has affected the meat processing industry profoundly. The pandemic has caused serious workforce disruptions for the sector, which impacted plants’ ability to process meat efficiently and led to producers euthanizing excess animals. Now, the Oklahoma Legislature is stepping in. Last week, the state Senate unanimously passed House Bill 2008, which would allow cattle producers to take their processed products directly to the market, allowing virtual inspections and other measures.
Pandemic Brings Out Best and Worst in People
Posted in: Club Newsletter, Featured, In The News, Reflections Articles Tags: Pandemic Brings out Best and Worst in People By Russell Ray If you think people are inherently good and honest, the COVID-19 pandemic has provided a lot of evidence to prove that thesis. In Oklahoma, we have seen businesses big and small give millions of dollars to relief efforts aimed at helping the unemployed, homeless and hungry. We have seen neighbors helping neighbors in need of food and other essentials.
Oklahoma Event Organizers Consider Options As State Tries To Reopen
As Oklahoma navigates plans to reopen slowly, event organizers must decide whether to hold their functions in person, move them online or cancel altogether. Journal Record editor Russell Ray discusses how some of the state's most beloved occasions could change in the wake of COVID-19. KGOU's Drew Hutchinson speaks with Journal Record editor Russell Ray. Full transcript: Drew Hutchinson: This is the Business Intelligence Report, a weekly conversation about business news in Oklahoma.
Lawsuits Likely As Businesses Reopen
As Oklahoma and other states begin to reopen slowly, attorneys say businesses will likely face liability lawsuits related to COVID-19. Journal Record editor Russell Ray discusses how litigation costs could devastate small businesses. KGOU's Drew Hutchinson speaks with Journal Record editor Russell Ray. Full transcript: Drew Hutchinson: This is the Business Intelligence Report, a weekly conversation about business news in Oklahoma. I’m Drew Hutchinson.
Oklahoma's Oil Industry Could Face 'Worst Case Scenario'
Oil prices have stabilized after an unprecedented plunge last week, but economists are still forecasting a grim scenario for Oklahoma, which relies heavily on the oil and gas industry. Journal Record editor Russell Ray discusses last week's negative oil contract prices, as well as what measure the state is considering to mitigate the problem. KGOU's Drew Hutchinson speaks with Journal Record editor Russell Ray.
OKC Health Department Deliberates Businesses Reopening
Members of the Oklahoma City-County Board of Health are deliberating which guidelines the state should consider when deciding when to reopen non-essential businesses. Journal Record editor Russell Ray discusses civil liberties, collective health and what elected officials are saying about reopening. KGOU's Drew Hutchinson speaks with Journal Record editor Russell Ray about the state's struggle to pinpoint when to lift restrictions on non-essential businesses.
Community Bankers Struggle To Process PPP Loans
The federal Paycheck Protection Program, or PPP, is part of a $2.2 trillion economic relief package passed by Congress. It authorizes loans to help businesses struggling to pay employees amid a steep economic downturn due to COVID-19. But sources say some community bankers struggled to access the system to process these loans, leaving them trailing behind larger financial institutions. Journal Record editor Russell Ray discusses what went wrong -- and some good news out of Tulsa.
Assistance Package To Aid OKC Businesses
The Oklahoma City Council approved a $5.5 million relief package for small businesses struggling during the COVID-19 pandemic. Journal Record editor Russell Ray discusses how the city will implement the plan, as well as why officials say this amount of money likely won't be enough. KGOU's Drew Hutchinson speaks with Journal Record editor Russell Ray. Full transcript: Drew Hutchinson: This is the Business Intelligence Report, a weekly conversation about business news in Oklahoma. I’m Drew Hutchinson.
Oklahoma Businesses Will Require SBA Funding
In light of economic downturn due to the coronavirus pandemic, Oklahoma state officials say many businesses will turn to the U.S. Small Business Administration for low-interest loans. Unemployment claims in the state are also at a high as workers are laid off. Journal Record editor Russell Ray discusses the specifics of SBA loans and the state's unemployment trust fund. KGOU's Drew Hutchinson speaks with Journal Record editor Russell Ray.
Gun Sales Spike Amid COVID-19 Concerns
As the country grapples with the coronavirus pandemic, gun sales in Oklahoma have risen. Journal Record editor Russell Ray discusses what gun shop owners are saying about the phenomenon, as well as the psychological reasons for this spike in firearms sales. KGOU's Drew Hutchinson speaks with Journal Record editor Russell Ray about gun sales in the midst of the coronavirus pandemic.
Amid ‘Perfect Storm,’ Oklahoma Energy Companies Gear Up For Budget Cuts And Possible Layoffs
The convergence of COVID-19 and recent OPEC disagreements has been called a perfect storm for Oklahoma. Journal Record editor Russell Ray discusses how, amid the concerns, energy companies in the state are gearing up to slash costs and possibly implement more layoffs. Full Transcript: Jim Johnson: This is the Business Intelligence Report, a weekly conversation about business news in Oklahoma. I'm Jim Johnson, in this week for Drew Hutchinson.
Oklahoma Reduces Cap On Natural Gas Production
For the first time since 1997, Oklahoma has changed its cap on natural gas production. The decrease comes amid a glut of resources and concerns about low oil and gas prices. Journal Record editor Russell Ray explains what the industry's big players are saying about the change. KGOU's Drew Hutchinson speaks with Journal Record editor Russell Ray about Oklahoma's recent decision to decrease the cap on natural gas production.
OG&E Reports Earnings Spike
Oklahoma's biggest utility, Oklahoma Gas and Electric Company, reported an earnings increase for the past year. Journal Record editor Russell Ray discusses what caused OG&E's revenue spike, as well as the utility's plans to modernize the state's electrical grid. KGOU's Drew Hutchinson speaks with Journal Record editor Russell Ray about OG&E's earnings. Full transcript: Drew Hutchinson: This is the Business Intelligence Report, a weekly conversation about business news in Oklahoma.
Proposed Legislation Could Bolster Oklahoma's Electric Vehicle Industry
Two bills intended to help Oklahoma's electric vehicle industry are moving through the state Legislature. If they become law, EV engineers could avoid paying part of the state income tax if they settle in Oklahoma, and companies that invest in EV technology could recieve tax breaks. Journal Record editor Russell Ray discusses the specifics of the proposed legislation.
OKC Parking Challenges Could Lead To Meter Price Hike
One-fourth of downtown Oklahoma City is composed of parking garages. But these private lots often sit empty, with residents more likely to pay for on-street parking. To incentivize the public to use the vacant lots, the City Council is considering raising on-street parking meter prices by 50 cents. Journal Record editor Russell Ray discusses the city's parking challenges and how stakeholders are reacting to the possible price hike.
Oklahoma Leads Nation In Number Of Cannabis Dispensaries
Since 2018, Oklahoma's medical marijuana industry has grown rapidly. Currently, the state leads the nation in the number of cannabis dispensaries, and it ranks second for dispensaries per capita. Journal Record editor Russell Ray discusses two reports that give insight into the prevalence of Oklahoma's cannabis business. KGOU's Drew Hutchinson speaks with Journal Record editor Russell Ray about Oklahoma's cannabis dispensaries.
Oklahoma GPT Collections Fall
Gross production tax collections in Oklahoma have been down for four consecutive months, and a steep drop in oil prices could be to blame. Journal Record editor Russell Ray discusses what this downward trend could mean for 2020. KGOU's Drew Hutchinson speaks with Journal Record editor Russell Ray about the state's recent downturn in GPT collections. Full transcript: Drew Hutchinson: This is the Business Intelligence Report, a weekly conversation about business news in Oklahoma. I’m Drew Hutchinson.
New Turnpike Extension Could Stimulate Business Growth
A new 7.5-mile segment of the Kilpatrick Turnpike has opened in Oklahoma City. Leaders say the road could stimulate business interest in southwest OKC, which has been described as the state's fastest-growing area. Journal Record editor Russell Ray discusses the road's project costs and its significance to the state. KGOU's Drew Hutchinson speaks with Journal Record editor Russell Ray about Oklahoma City's new turnpike extension.
Oklahoma Commerce Department Sets Goals For 2020
The Oklahoma Department of Commerce announced its goals for the new year, including alleviating a 140,000-person statewide workforce gap and diversifying the state's economy. Journal Record editor Russell Ray discusses plans for meeting these objectives. KGOU's Drew Hutchinson speaks with Journal Record editor Russell Ray about the Oklahoma Department of Commerce's goals for the next year.
Oklahoma's Economy Could Slow, Expert Says
The national economy is showing signs of slowing, and Oklahoma's economy could follow. Robert Dauffenbach, director of the Center for Economic and Management Research at the University of Oklahoma, says this is due in part to the state's reliance on oil and natural gas production. Journal Record editor Russell Ray discusses what Oklahomans should know about a possible economic downturn. KGOU's Drew Hutchinson speaks with Journal Record editor Russell Ray about Oklahoma's economy.
Oklahoma's Economy Could Slow, Expert Says
The national economy is showing signs of slowing, and Oklahoma's economy could follow. Robert Dauffenbach, director of the Center for Economic and Management Research at the University of Oklahoma, says this is due in part to the state's reliance on oil and natural gas production. Journal Record editor Russell Ray discusses what Oklahomans should know about a possible economic downturn. KGOU's Drew Hutchinson speaks with Journal Record editor Russell Ray about Oklahoma's economy.
Oklahoma City Nonprofit School Helps Homeless Children
The new campus for Positive Tomorrows, an Oklahoma City nonprofit school for homeless children, opened Dec.2. The school enrolls students who struggle with homelessness, helps them and their families, and eventually intergrates them into public school. Journal Record editor Russell Ray discusses how the $15 million project was financed and how Positive Tomorrows was designed to fit the specific needs of its students.
Oklahoma Holds Film Conference, Invests In Recruiting Projects
Last week, hundreds of entertainment industry professionals attended Oklahoma's first-ever Film and Music Conference. The event's goal was to help the state's talent further develop industry skills and knowledge, as well as to encourage companies to produce projects in Oklahoma. Journal Record editor Russell Ray discusses how the state incentivizes production companies to film in Oklahoma and what officials are saying about Oklahoma's potential for attracting movies.
Oklahoma Invests In Quantum Technology Research
The University of Oklahoma is researching a bewildering area of quantum physics that could generate billions of dollars worth of technology over the next decade. Journal Record editor Russell Ray and OU physics professor Alberto Marino discuss how "atomic entanglement" helps technology -- and how other state entities are supporting OU's efforts.
Electric Vehicles In Oklahoma May Require An Alternative Tax
Electric vehicle sales are increasing by the year, which is leading to less fuel tax revenue for Oklahoma. To preserve infrastructure funding, officials are beginning to look at alternative taxes for EV owners. Journal Record editor Russell Ray discusses why fuel tax revenue is important to the state and what an EV tax could look like. KGOU's Drew Hutchinson speaks with Journal Record editor Russell Ray.
Inaccurate 2020 Census Count Could Cost Oklahoma Millions Of Dollars
The next U.S. Census begins early next year, and nonprofit leaders say an inaccurate count could cost Oklahoma millions of dollars. Journal Record editor Russell Ray discusses how nonprofit and public entities plan to ensure participation and why certain groups remain underrepresented in the census. KGOU's Drew Hutchinson speaks with Journal Record editor Russell Ray.
Inaccurate 2020 Census Count Could Cost Oklahoma Millions Of Dollars
The next U.S. Census begins early next year, and nonprofit leaders say an inaccurate count could cost Oklahoma millions of dollars. Journal Record editor Russell Ray discusses how nonprofit and public entities plan to ensure participation and why certain groups remain underrepresented in the census. KGOU's Drew Hutchinson speaks with Journal Record editor Russell Ray.
Solar Energy Advocates Say The Industry Could Help Schools
An Oklahoma Senate committee recently held a study session regarding Oklahoma's solar energy potential. Former school officials attended to advocate for expanding the industry, which could help lower utility costs and free up resources for classroom materials. Journal Record editor Russell Ray discusses how solar energy helped a Purcell middle school and the new rules for compensating solar energy customers. KGOU's Drew Hutchinson speaks with Journal Record editor Russell Ray.
Solar Energy Advocates Say The Industry Could Help Schools
An Oklahoma Senate committee recently held a study session regarding Oklahoma's solar energy potential. Former school officials attended to advocate for expanding the industry, which could help lower utility costs and free up resources for classroom materials. Journal Record editor Russell Ray discusses how solar energy helped a Purcell middle school and the new rules for compensating solar energy customers. KGOU's Drew Hutchinson speaks with Journal Record editor Russell Ray.
Cybersecurity Insurance On The Rise In Oklahoma
More Oklahoma businesses are purchasing cybersecurity insurance amid nationwide concern about digital safety. But experts say buying coverage alone isn't enough. Journal Record editor Russell Ray discusses tips for digital hygiene and why cybersecurity is a two-way street for businesses and contractors. KGOU's Drew Hutchinson speaks with Journal Record editor Russell Ray. Drew Hutchinson: You’re listening to the Business Intelligence Report, a weekly conversation about business news in Oklahoma.
Cybersecurity Insurance On The Rise In Oklahoma
More Oklahoma businesses are purchasing cybersecurity insurance amid nationwide concern about digital safety. But experts say buying coverage alone isn't enough. Journal Record editor Russell Ray discusses tips for digital hygiene and why cybersecurity is a two-way street for businesses and contractors. KGOU's Drew Hutchinson speaks with Journal Record editor Russell Ray. Drew Hutchinson: You’re listening to the Business Intelligence Report, a weekly conversation about business news in Oklahoma.
Cherokee Nation Businesses Follow Tribal Government In Raising Minimum Wage
Cherokee Nation Businesses announced that it will raise its workers' minimum wage to $11 an hour, effective Oct. 1. The announcement comes after pay raises were approved last month for Cherokee Nation government workers. Journal Record editor Russell Ray discusses the specifics of these raises and how profits from Cherokee Nation Businesses help the tribe. KGOU's Drew Hutchinson speaks with Journal Record editor Russell Ray.
Oklahoma's Medical Cannabis Industry Affected By New State Laws, Lack Of Federal Guidelines
A new medical marijuana law recently took effect in Oklahoma, regulating product labeling and drug testing policies. But since cannabis remains illegal federally, banks are still unsure on how to safely serve the industry. On the latest Business Intelligence Report, Journal Record editor Russell Ray discusses the state's new regulations, as well as how proposed legislation could protect banks. KGOU's Drew Hutchinson speaks with Journal Record editor Russell Ray.
Oklahoma City's Wheeler District Development Moves Forward
Residents are moving into new homes in Oklahoma City's Wheeler District, which has been a work-in-progress for about 13 years. Officials say the building process will likely wrap up anywhere from 2020 to 2025 and will have more than 600 homes. Journal Record editor Russell Ray discusses the neighborhood's future and why the area's historic ferris wheel was key to its development. KGOU's Drew Hutchinson speaks with Journal Record editor Russell Ray.
Oklahoma's Medical Cannabis Industry Affected By New State Laws, Lack Of Federal Guidelines
A new medical marijuana law recently took effect in Oklahoma, regulating product labeling and drug testing policies. But since cannabis remains illegal federally, banks are still unsure on how to safely serve the industry. On the latest Business Intelligence Report, Journal Record editor Russell Ray discusses the state's new regulations, as well as how proposed legislation could protect banks. KGOU's Drew Hutchinson speaks with Journal Record editor Russell Ray.
New Multiuse Project To Mark Halfway Point Between Edmond And Downtown OKC
A new multiuse development, “The Half,” is coming to Oklahoma City. The project isn’t the only of its kind underway in the metro, but developers say its central location and unique vendors could entice locals and out-of-towners alike. Journal Record editor Russell Ray discusses the project’s goals and recent branding, as well as how Oklahoma’s liquor laws have affected the development. KGOU's Drew Hutchinson speaks with Journal Record editor Russell Ray.
Trade War Leads To New Challenges For Oklahoma Pecan Producers
Oklahoma’s pecan producers expect the largest crop yield in years. But trade tensions with China, the largest buyer of U.S. pecans, could make exporting the product difficult. Journal Record editor Russell Ray discusses the industry’s challenges in Oklahoma and how growers are attempting to reach the domestic market amid foreign tariffs. KGOU's Drew Hutchinson speaks with Journal Record editor Russell Ray.
Aging Wind Turbines Pose Environmental And Economic Costs
On the latest Business Intelligence Report, Journal Record editor Russell Ray discusses what happens when wind turbines reach the end of their lifespan and the potential economic and environmental challenges associated with decommissioning them. KGOU's Richard Bassett talks with Journal Record editor Russell Ray. Full Transcript: Richard Bassett: This is the Business Intelligence Report, a weekly conversation about business news in Oklahoma. I'm Richard Bassett.
OKC Expects Increased Economic Benefits From Innovation District Development
City and state entities are considering developing Oklahoma City's Innovation District into a research hub. Journal Record editor Russell Ray discusses the project's potential $1.2 billion economic impact and how it could create 6,600 new jobs, while strengthening nearby neighborhoods, parks and schools. KGOU's Richard Bassett talks with Journal Record editor Russell Ray.
New Business Investments In Oklahoma Top $1.4 Billion So Far This Year
In the first half of 2019, 38 businesses have announced plans to make investments in Oklahoma. Journal Record editor Russell Ray discusses the reason for this wave of investments and the potential economic impact on the state. KGOU's Richard Bassett talks with Journal Record editor Russell Ray. Full Transcript: Richard Bassett: You're listening to the Business Intelligence Report, a weekly conversation about business news in Oklahoma.
New Business Investments In Oklahoma Top $1.4 Billion So Far This Year
In the first half of 2019, 38 businesses have announced plans to make investments in Oklahoma. Journal Record editor Russell Ray discusses the reason for this wave of investments and the potential economic impact on the state. KGOU's Richard Bassett talks with Journal Record editor Russell Ray. Full Transcript: Richard Bassett: You're listening to the Business Intelligence Report, a weekly conversation about business news in Oklahoma.
Oklahoma Energy Project To Be Largest Of Its Kind In U.S.
Western Farmers Electric Cooperative has entered into an agreement with NextEra Energy Resources to build the largest combined wind, solar and energy storage project in the country. Journal Record editor Russell Ray discusses how this project could impact Oklahoma and potential challenges these companies could face. KGOU's Katelyn Howard talks with Journal Record editor Russell Ray.
Oklahoma Energy Project To Be Largest Of Its Kind In U.S.
Western Farmers Electric Cooperative has entered into an agreement with NextEra Energy Resources to build the largest combined wind, solar and energy storage project in the country. Journal Record editor Russell Ray discusses how this project could impact Oklahoma and potential challenges these companies could face. KGOU's Katelyn Howard talks with Journal Record editor Russell Ray.
Demand For Licenses To Grow Hemp Increases In Oklahoma
The demand for licenses to grow hemp has exceeded state officials' expectations. Journal Record editor Russell Ray discusses profitable aspects of the hemp industry and how Oklahoma hopes to model its certification program on states like Colorado. KGOU's Katelyn Howard talks with Journal Record editor Russell Ray. Full Transcript: Katelyn Howard: You’re listening to the Business Intelligence Report, a weekly conversation about business news in Oklahoma.
Demand For Licenses To Grow Hemp Increases In Oklahoma
The demand for licenses to grow hemp has exceeded state officials' expectations. Journal Record editor Russell Ray discusses profitable aspects of the hemp industry and how Oklahoma hopes to model its certification program on states like Colorado. KGOU's Katelyn Howard talks with Journal Record editor Russell Ray. Full Transcript: Katelyn Howard: You’re listening to the Business Intelligence Report, a weekly conversation about business news in Oklahoma.
EV Charging Stations Increase In Oklahoma
More electric vehicle charging stations are coming to Oklahoma. In this episode of the Business Intelligence Report, Journal Record editor Russell Ray discusses how this comes at a time of increased interest in electric vehicles and charging infrastructure across the state. KGOU's Katelyn Howard talks with Journal Record editor Russell Ray. Full Transcript: Katelyn Howard: This is the Business Intelligence Report, a weekly conversation about business news in Oklahoma.
EV Charging Stations Increase In Oklahoma
More electric vehicle charging stations are coming to Oklahoma. In this episode of the Business Intelligence Report, Journal Record editor Russell Ray discusses how this comes at a time of increased interest in electric vehicles and charging infrastructure across the state. KGOU's Katelyn Howard talks with Journal Record editor Russell Ray. Full Transcript: Katelyn Howard: This is the Business Intelligence Report, a weekly conversation about business news in Oklahoma.
Construction Jobs In Oklahoma Reach A Record High
Construction employment is at an all-time high in Oklahoma and has been growing at a rate of more than 5 % a year. Journal Record editor Russell Ray discusses how Oklahoma is part of a larger national trend. KGOU's Katelyn Howard talks with Journal Record editor Russell Ray. Full Transcript: Katelyn Howard: You're listening to the Business Intelligence Report, a weekly conversation about business news in Oklahoma. I'm Katelyn Howard, and with me is Russell Ray, editor of The Journal Record.
Construction Jobs In Oklahoma Reach A Record High
Construction employment is at an all-time high in Oklahoma and has been growing at a rate of more than 5 % a year. Journal Record editor Russell Ray discusses how Oklahoma is part of a larger national trend. KGOU's Katelyn Howard talks with Journal Record editor Russell Ray. Full Transcript: Katelyn Howard: You're listening to the Business Intelligence Report, a weekly conversation about business news in Oklahoma. I'm Katelyn Howard, and with me is Russell Ray, editor of The Journal Record.
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