The Edmond Sun

Business

June 22, 2012

Americans hold dimmest view on economic outlook in five months

WASHINGTON — The fewest Americans in five months said the economy was improving in June, signaling the slowdown in employment is seeping into consumer psychology.

The share of households viewing the economy as heading in the right direction fell to 22 percent this month, the lowest since January, pushing the Bloomberg monthly expectations gauge to minus 11 from minus 1 in May. The weekly Bloomberg Consumer Comfort Index was minus 37.9 in the period ended June 17, down from a four-week high of minus 36.4.

"The steady drip of dreary economic data and deteriorating labor market is reshaping public expectations," said Bloomberg LP senior economist Joseph Brusuelas in New York. The decline "will likely result in slower spending, which in turn will likely have an adverse impact on business confidence."

Growing pessimism raises the odds that retailers will continue to see demand cool after sales dropped over the past two months. Federal Reserve policymakers said Wednesday they will expand a program aimed at reducing long-term interest rates in a bid to spur the world's largest economy after lowering their outlook for growth and employment.

Another report Thursday showed more Americans than forecast filed applications for unemployment benefits last week, indicating the labor market continues to struggle.

Jobless claims decreased by 2,000 to 387,000 in the week ended June 16, according to data from the Labor Department. The median forecast of 45 economists surveyed by Bloomberg News called for 383,000. The four-week average, a less volatile measure, climbed to the highest of the year.

The Fed said Wednesday it will expand its program to replace short-term Treasury securities with longer-term debt by $267 billion through the end of 2012. Central bankers also said they were "prepared to take further action as appropriate to promote a stronger economic recovery and sustain improvement in labor market conditions in a context of price stability."

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Business
  • Kaiser joins Thunder ownership group

    Tulsa businessman George B. Kaiser has been approved by the NBA Board of Governors as a new partner in The Professional Basketball Club LLC, which owns the Oklahoma City Thunder. Thunder Chairman and CEO Clayton I. Bennett made the announcement Friday. Kaiser is purchasing the ownership interest of Tom L. Ward.
    “We are honored to welcome George Kaiser as a member of the ownership group of the Oklahoma City Thunder,” Bennett said. “George is a well-respected and important Oklahoma business leader, as well as one of the state and nation’s top philanthropists. His commitment to successful business and community leadership is in true alignment with that of the Thunder.
    “I also appreciate the commitment and leadership provided by Tom Ward as a member of our ownership group from the beginning,” Bennett added.

    April 18, 2014

  • Food Bank’s Leadership Council applications now available

    The Regional Food Bank of Oklahoma invites young professionals to submit applications for the nonprofit’s first-ever Leadership Council. The Leadership Council connects young professionals interested in getting involved in their community and state through engagement with the Regional Food Bank of Oklahoma. These dedicated individuals, aged 24 to 35, will volunteer their time and creativity to raise awareness about the issue of hunger and increase the visibility of the Regional Food Bank and its mission of “Fighting Hunger … Feeding Hope” in Oklahoma.

    April 18, 2014

  • Logan County Health Department observes Administrative Professionals Week

    The Logan County Health Department is recognizing the work of its seven administrative professionals during Administrative Professionals Week, April 20-26.

    April 18, 2014

  • Tractor Supply Company launches spring 2014 Paper Clover campaign

    Tractor Supply Company, in partnership with National 4-H Council, recently announced the launch of its spring 2014 Paper Clover Campaign.
    Tractor Supply Company, the largest retail farm and ranch supply store chain in the United States, raised more than $3.2 million for 4-H programs across the country through the Paper Clover Campaigns during the past four years.

    April 18, 2014

  • U.S Cellular offers device trade-in program, app recommendations

    In honor of Earth Day (April 22), U.S. Cellular encourages people to recycle their old electronic devices and is providing incentives to do so. Customers can get up to $250 when they trade in qualified smartphones — including Apple® iPhones — at U.S. Cellular retail locations through the company’s Trade-in Program.

    April 18, 2014

  • Sun Life Financial accepting grant applications

    The U.S. Business Group of Sun Life Financial Inc. recently announced its Request For Applications for Sun Life Rising Star Awards grants from Tulsa/Oklahoma City Area nonprofit organizations that promote the academic achievement of under-served youth. Applications are available now at sunliferisingstar.com. The deadline for submissions is June 9.

    April 18, 2014

  • Ribbon Cutting - Qdoba (3-26-14).jpg Qdoba Mexican Grill celebrates grand opening on Covell

    Qdoba Mexican Grill recently had a ribbon cutting to celebrate the grand opening of its newest location at 1300 W. Covell Road. The franchise joins nine others in the Oklahoma City and Lawton areas and boasts a wide variety of menu items including gumbos, burritos, tacos, quesadillas and five types of salsa as well as options for children. Each restaurant prepares ingredients fresh daily and is available to cater small or large parties with three types of hot bars: Naked Burrito, Taco and Nacho. “We also offer rewards cards, easy to register from a smart phone or computer,” reports owner/operator David Smith. For more information, call 405-285-0355 or visit www.qdoba.com.Caption header 24 Frtgr Bold Cd

    April 18, 2014 1 Photo

  • Family, friends remember beloved ‘T-shirt man’

    If you have lived in the Oklahoma City metro area during the past 40 years, chances are you’ve worn one of Tony Newcomb’s T-shirts.
    This week, family members and friends have been remembering the “T-shirt man” who died April 15 after a long struggle with Parkinson’s disease. He was 72.

    April 18, 2014

  • U.S. Cellular announces Edmond to receive 4G LTE service

    U.S. Cellular (NYSE: USM), in conjunction with its partner, King Street Wireless, announced that Edmond residents will have 4G LTE services by the end of 2014. The company is adding more than 1,200 4G LTE cell sites across the country, and by the end of the year more than 93 percent of U.S. Cellular customers will have access to 4G LTE speeds that are up to 10 times faster than 3G.

    April 18, 2014

  • Victimized by the 'marriage penalty'

    In a few short months, I'll pass the milestone that every little girl dreams of: the day she swears - before family and God, in sickness and in health, all in the name of love - that she's willing to pay a much higher tax rate.

    April 16, 2014

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