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E 2 n n Wednesday, March 14, 2012
OKLAHOMA AGRICULTUREOklahoma markets
The state Department of Agriculture reported
the following closing prices Tuesday:
U.S. No 1 HARD RED WINTER WHEAT: 8 to 9
cents lower. 6.33-6.74.Davis 6.33, Lawton 6.42, Frederick, Keyes 6.43,
Hooker, Temple 6.48, Shattuck 6.56, Clinton, Ho-
bart 6.63, Miami 6.64, Alva, Bualo, Weatherford
6.65, Manchester 6.66, Cherokee 6.68, Banner, El
Reno, Geary, Medford, Okarche, Okeene, Watonga
6.69, Eldorado 6.73, Perry, Ponca City, Stillwater
6.74, Gulf 7.575.
MILO: 3 to 20 c ents higher. 10.21-11.53.
Frederick 10.21, Miami 11.42, Alva, Bualo 11.44,
Keyes, Manchester, Ponca City 11.46, Medford,
Shattuck, Weatherford 11.48, Hooker 11.53, Gulf
12.22.
SOYBEANS: 13 to 15 cents higher. 12.50-13.17.
Shattuck 12.50, Hooker 12.54, Alva, Bualo
12.87, Medford 12.91, Stillwater 12.97, Ponca City
12.99, Miami 13.17, Gulf 14.11.
CORN: 2 to 9 cents higher. 6.33-6.99.
Manchester, Medford 6.33, Ponca City 6.52,
Miami 6.70, Keyes 6.92, Hooker 6.99, Gulf 7.315.
CANOLA (CWT): Dacoma N/A, Hillsdale N/A,
Bison N/A.
COTTON: Grade 41, Leaf 4, Staple 34 Cotton
in southwestern Oklahoma averaged 80.75 cents
per pound.
EGGS: Large 1.15; medium 88 cents; small 76
cents.
Oklahoma livestock
The state Department of Agriculture reported
the following prices Tuesday at the Oklahoma City
Stockyards:
Receipts: 5,672; week ago: 9,738; year ago:
9,660.
Compared to last week: Feeder cattle and calves
closing the day on a strong note but averaging
steady. Demand moderate to good for all classes.
Early demand moderate as cattle futures opened
lower again. Demand improved later in the day as
cattle futures closed on the plus side. Numbers
reduced just slightly due to rains over the weekend.
Quality plain to average, few attractive. Cattle
in thin to Fleshy; conditions. Supply included 72
percent over 600 lbs; 36 percent heifers.
Feeder Steers Medium and Large 1: 375-400
lbs 206-213; 400-500 lbs 204-217; 500-550 lbs
177.75-204; 550-600 lbs 179-196.50, lot 565 lbs
thin fleshed 200; 600-650 lbs 167-182.75, few lots
610-615 lbs thin fleshed 184-185.50; 650-700 lbs
161.50-171, lot 650 lbs thin fleshed 179; 700-750
lbs 155-166; 750-800 lbs 149.25-164.35; 800-850
lbs 147-154.75; 850-900 lbs 140-149; 900-975 lbs
133.50-142; 1025-1100 lbs 125-129.50.
Medium and Large 1-2: 350-400 lbs 194-206,
pkg thin fleshed 350 lbs 224; 475-500 lbs 189-
200; 500-600 lbs 172-184, 500 lbs thin fleshed
200; 600-650 lbs 166.50-178; 650-700 lbs
145-161; 700-800 lbs 151.75-159, load 740 lbs thin
Fleshed; 160; 800-900 lbs 139.50-151; 915 lbs
136.25.
Medium and Large 2: pkg 315 lbs 213; 375-400
lbs 191-194.50; 400-450 lbs 189-190.50; 500-525
lbs 164-175; lot 555 lbs thin fleshed 180; 600-650
lbs 165.50-175.50; 650-700 lbs 150-157; 700-750
lbs 144-154; 850-900 lbs 137-140.25; load 925 lbs
134.50.
Feeder Heifers Medium and Large 1: 300-400
lbs 188-195.50; 400-450 lbs 178-188, 415 lbs thin
fleshed 191; 450-500 lbs 169-178; 525-600 lbs
161-171, lot 595 lbs thin fleshed 173.50; 600-650
lbs 151-161.75, pkg 605 lbs thin fleshed 165; 650-
700 lbs 148-154; 700-750 lbs 146-153; 750-800
lbs 136-143; 800-900 lbs 130-138; 950-975 lbs
125-129.75.
Medium and Large 1-2: 400-500 lbs 164-176;
500-600 lbs 155-169; 600-700 lbs 139.75-154.50;
700-775 lbs 138-144.75; 800-850 lbs 122-132.25.
Medium and Large 2: lot 395 lbs thin fleshed
190; 450-500 lbs 148-163; 500-600 lbs 145-161;
600-700 lbs 135-151; 700-800 lbs 126-137; few
850-900 lbs 126-127.25.
AIRFARES FROM TULSA
Round-trip airfares based on lowest coach rates.
LEGEND AA: American Airlines. CA: Continental Airlines; DL: Delta Air
Lines; FA: Frontier Airlines; NW: Northwest Airlines; SW: Southwest Air-
lines; TA: American Trans Air; UA: United Airlines; US: US Airways.
City Normal fare** Advance discount fare*
Atlanta $2,014 UA $388 DL, SW, UA
Chicago $1,924 AA, DL, UA $380 AA, UA
Dallas $328 SW $78 AA
Denver $510 SW $228 AA, DL, UA
Houston $496 SW $162 AA, DL, UA
Las Vegas $964 SW $396 AA, DL, UA
Los Angeles $964 SW $374 AA, DL, UA
Miami $2,482 AA, DL $408 AA, DL, UA
New York $1,758 AA, DL $390 AA, DL, UA
Phoenix $796 SW $366 AA, DL, UA
San Francisco $934 SW $408 AA, DL, UASeattle $878 SW $468 AA, DL, UA
St. Louis $346 SW $202 SW
* Prices are subject to availability of seats.
** Price may vary depending on availability and if flying non-stop or
through a hub. Fares listed do not include additional airport fees, government taxes
and service fees, which can range from $3 to $25 one way. Also, most airlines charge
for checked luggage.
Source: Spears Travel Tulsa World
at 3.3 percent, and the num-ber of unemployed peoplewas half of January’s level.
“In one respect, we’re cer-tainly improving, and wehave nearly as many peopleworking as we had nearlyfour years ago, but certain-ly the labor market isn’t ashealthy as it was four yearsago,” Gray said.
A larger survey takenamong business establish-ments shows that Oklaho-ma’s nonfarm employmentin January was down sub-stantially from the high of 1,595,300 reached in 2008.In January, the state added4,700 nonfarm jobs, bring-ing the number to 1,570,000.That job total was up 29,800from January 2011.
Gray said the nation, whichregistered an 8.3 percent job-less rate in January, might belooking at prolonged, elevat-
ed unemployment levels.“I think there’s a chance
that we have a large group of people nationally with skillsets that aren’t in demandlike they were before, andthose long-term unemploy-ment numbers aren’t dipping like we would want them toin a recovery,” he said.
The nation has seen largeincreases in total employ-ment, but at the same timethe gross domestic productnumbers don’t look as prom-ising. So, there’s a bit of a mis-
match, Gray added.Typically, the unemploy-
ment rate does the opposite of what GDP does, which is re-ferred to as Okun’s law. So, if GDP increases, the unemploy-ment rate will decrease, andvice versa, Gray explained.
“That relationship brokedown a little during the re-cession in that unemploy-ment increased at a greateramount than the declines inGDP would have suggested,”he said. “It seems to be catch-ing up now that employment
is increasing at a faster ratethan the GDP would suggestgoing forward into 201 2.”
Even so, it probably willtake quite some time to getunemployment rates downto pre-recession levels, Graysaid.
In Oklahoma, the mining and logging sector has added8,000 jobs over the year for a16.8 percent increase, whilemanufacturing is up 7,400 jobs, or 5.9 percent.
The BLS reported that re-gional and state unemploy-
ment rates generally fell fromDecember to January. Forty-five states and the District of Columbia recorded rate de-creases, while New York sawan increase and four stateshad no change.
Nevada continued to re-cord the highest unemploy-ment rate at 12.7 percent inJanuary, while North Dakotaagain had the lowest at 3.2percent.
Laurie Winslow [email protected]
JOBSFROM E1
news driving the markethigher Tuesday: Retail salesin February increased themost since September, andthe Federal Reserve said itexpected the unemploymentrate to keep falling.
Then the market soaredin the final hour after JP-Morgan Chase, the country’slargest bank by assets, an-nounced that it plans to buyback as much as $15 billion of its stock and raise its quarter-ly dividend by a nickel to 30
cents per share.“That’s what really made
the day,” said Je rey Klein-top, chief market strategist atLPL Financial.
JPMorgan Chase stocksoared 7 percent, and otherbanks followed. Citigroupand Goldman Sachs gained6 percent. Banks were easilythe best-performing stocks inthe market, gaining almost 4percent as a group.
The Fed had planned torelease the results of its so-called stress test for 19 finan-cial institutions Thursday. Butafter JPMorgan Chase madeits announcement — and saidit was raising the dividend
with the Fed’s blessing — theFed pulled a surprise.
The central bank releasedits stress test results two daysahead of schedule, a half-hour after the markets closedTuesday. JPMorgan Chaseand 14 other financial institu-tions passed. Four, including Citigroup, failed.
The Dow finished at13,177.68, its highest closesince Dec. 31, 2007. The closeput the Dow within 1,000points of its record, 14,164.53,set less than three monthsearlier. All 30 stocks in theDow closed higher, the firsttime that has happened thisyear.
DOWFROM E1
them, a move aimed at getting uniontalks moving.
The airline’s unions, meanwhile,have asked that federal mediators join the contract talks with manage-ment. American also has been suedby its pilots.
AMR has said it is not looking tocut worker pay, but wants changesin work rules and other concessions.
The airline plans to trim 13,000 jobs, including 2,100 mechanicswho work at its Tulsa maintenancebase. Several hundred other posi-tions in Tulsa also could be cut, of-ficials have said.
The prospect of a new labor-management stando echoes thefive years of failed contract talks atthe third-largest U.S. airline beforeAMR entered bankruptcy. The FortWorth-based company ended 2011with its fourth straight annual loss,pushing the cumulative deficit overthat span to more than $6 billion.
While AMR hasn’t said when itwill ask U.S. Bankruptcy Judge SeanLane in New York for the power todictate contract terms, it has sig-
naled that such a step is near andnoted that losses persist. Bankrupt-cy law requires a good-faith e ort tonegotiate concessions first.
“It is vital that we reach consen-
sual agreements very soon withall of our unions,” Bruce Hicks, aspokesman for American, said in astatement. “We are still a long way
from that point and can’t a ord tocontinue at this extremely slowpace.”
“American must acknowledgethat its term sheet is not written instone, but can and must be moldedand transformed for creative andmutually beneficial solutions,”Laura Glading, president of the As-sociation of Professional Flight At-tendants, told members in a hotlinemessage.
The Transport Workers Union,which represents mechanics andbag handlers, said after the arbitra-tion request was submitted that “alle orts” for direct negotiations hadbeen exhausted.
While protracted legal wrangling with unions may deter possiblesuitors because of questions aboutfuture costs, jettisoning contractsover labor’s objections also may addto the risk of a takeover, Je Strae-bler, an independent airline analystin Stamford, Conn., told Bloomberg.
That’s because American’s threemajor unions and insurer PensionBenefit Guaranty Corp. hold fourof nine seats on AMR’s unsecured-
creditors committee, Straebler said.“A potential acquirer could o er a
deal that would secure those votesand would only need one more” tohave a majority of the panel, Strae-
bler said. US Airways Group Inc.has said it’s weighing a possibleAMR merger, and TPG Capital andDelta Air Lines Inc. also are evalu-
ating bids.US Airways President Scott Kirby
said Tuesday that building supportamong bankruptcy constituents,particularly labor, was among thelessons learned from the carrier’sfailed 2006 hostile takeover bid forDelta. Kirby, speaking at the JPM-organ Chase & Co. Aviation, Trans-portation & Defense Conference,declined to comment on AMR.
Even going to court to throw outlabor contracts takes time. Oncesuch a request is made, a hearing must begin within 21 days and the judge must rule within 30 days.Talks could be held during the in-terval and lead to an agreement be-fore a judicial order.
American and its unions “justhave such a long, bad history thatit may end up being the judge willhave to make unilateral decisionson what ends up being the newcontracts,” said Michael Derchin, aCRT Capital Group LLC analyst inStamford, Conn. “It’s unfortunatefrom a labor standpoint.”
The airline has blamed its bank-ruptcy filing in part on annual labor
costs that are about $800 millionmore than those of its largest rivals,United Continental Holdings Inc.and Delta.
With the latest negotiations sty-
mied, American stepped back onMarch 7 from a demand to termi-nate its underfunded pensions, say-ing it would freeze plans for em-
ployees other than pilots.A day later, the Allied Pilots As-
sociation, TWU and the flight at-tendants union asked the NationalMediation Board to intervene andsend the airline’s job-cut plan tobinding arbitration. Neutral exam-iners would study positions on bothsides and craft solutions.
“What they’re asking for is prettyextraordinary,” said Richard L. Wy-att, a partner at Hunton & Williamsin Washington, D.C., who has rep-resented major airlines in collec-tive bargaining disputes. “The NMBdoesn’t have that power. Americanis, for better or worse, under su-pervision of the bankruptcy court.I can’t imagine they’d agree to thisand basically take it out of courtoversight.”
The mediation board askedAmerican to respond to the arbitra-tion request by the close of businessMarch 19, according to the airline,which said it will focus in the mean-time on reaching agreements withits unions.
“Bargaining a consensual agree-ment may not prove to be possible,”
APA President David Bates toldmembers last week. The TWU re-acted to the pension freeze by call-ing it a “major move forward” whilesaying the union still needs “con-
sensual agreements with all TWU-represented work groups.”
United’s former parent, UALCorp., secured union agreements to
help cut spending by $4 billion, in-cluding eliminating almost 24,000 jobs, before leaving Chapter 11 in2006. Delta got rid of 6,000 jobs inbankruptcy.
The former Northwest Airlineschopped its work force by 22 per-cent while in court protection andimposed new contract terms onattendants after bargaining failed.A year later, the attendants unionwas still demanding that then-CEODoug Steenland resign.
“The history of airlines in bank-ruptcy has been one of judgesplunging ahead and the union andworkers be damned,” said Ray Ab-ernathy, a spokesman for Americanattendants in their 1993 strike whonow leads a Washington-based la-bor communications firm. “That’shappened over and over again. Idon’t see anything here that wouldchange that.”
Labor memories also run deepat American, where unions agreedto $1.6 billion in givebacks in 2003amid an earlier bankruptcy threat.CEO Tom Horton’s predecessor,Gerard Arpey, stirred hopes of man-
agement goodwill that year when hetook the job after those givebacks.
The Tulsa World Business sta contributed
to this story by Bloomberg News.
AMR FROM E1
drinks, “anything you coulduse on the job site,” Davissaid.
The company, a subsidiaryof United Stationers Inc. of Deerfield, Ill., has 19 distri-bution centers nationwide,including one in Muskogee.
ORS Nasco also helps cre-ate marketing materials forits supplier customers, in-cluding websites and cata-logs.
“A lot of the things thatwe sell you can find at Home
Depot or Amazon.com, butwe’re more convenient andcan sell at a better price,” Da-vis said.
The company is among ahandful of tool sellers thathave major operations inTulsa, including Fastenaland Hilti.
With the move down-town, ORS Nasco will keepits current 20,000-square-foot headquarters at theTechRidge oce park near41st Street and Mingo Road.Training and direct salesemployees will be locatedthere.
Corporate and adminis-trative functions will move
downtown to the 907 De-troit building, formerly theSunoco Building, whereORS Nasco will occupy one40,000-square-foot floor.
Davis said a downtownpresence will help attract alarger base of younger pro-fessional employees to helphead its corporate opera-tions and train in sales.
ORS Nasco moved to Tulsain 1999 when its parent com-pany bought Oklahoma Rig and Supply in Muskogee anddecided to base the new divi-sion in Tulsa.
Kyle Arnold [email protected]
HIRESFROM E1
The Burst is, from the out-side, a fairly unremarkable-looking iPhone-size slab. It’slight, not too thick and com-fortable to hold, though theplastic sides and back make itfeel as cheap as its price.
This smartphone runs alightly modified version of Android 3.2, aka Gingerbread.
I’m fairly neutral on theaesthetic Pantech applied toAndroid, but I’m a fan of thelock screen. You’ll be gliding a circle to a center target asin many other phones, butyou can choose from severaldi erent circles that takeyou to specific functionslike the Web, email, phone
or camera, which is surpris-ingly handy.
Although the phone is rela-tively inexpensive, Pantechdidn’t skimp on the proces-sor. Nearly everything ranquite smoothly, with onlythe most complex websitesmaking things a little c hoppy.That’s a great surprise for abargain phone.
Unfortunately, the photofunction was infuriating. Theindividual pictures are finewith good light levels, but thecamera refuses to focus untilafter you’ve hit the button,
leaving you with a full three-to-four-second delay before
it actually takes the picture.Let’s move on to the 8-inch
Element tablet. Though inex-pensive, it has a rugged, wa-terproof design. Other thanthe plastic flaps that coverthe various ports when notin use, it’s easy to forget itstough nature — the Elementis relatively light, has eas-ily accessible control buttonsand o ers surprisingly goodsound quality.
The device runs on a ver-sion of Android 3.0, aka Hon-eycomb, the first revision totruly take advantage of ad-ditional tablet real estate.Unfortunately, Honeycombis really starting to feel datedcompared to Android 4.0, akaIce Cream Sandwich, or theiPad. If you’ve tried either of those, using Element feelslike several steps back.
Still, like the Burst, the El-ement runs what it has well,
with only occasional andminor instances of chop-piness. The camera is a lotmore sensible, too; it focusesbefore taking a picture near-instantaneously after hitting the button.
Yet the Element has itsown problem, namely subparvideo playback. Even movietrailers specifically uploadedto YouTube in high defini-tion played back with largesquares of garble all over theplace.
Even with their flaws, theElement and Burst are stillmuch better than most otherbargain-basement devicesI’ve seen. Sure, they can’ttouch the more expensiveproducts, but if you’re bud-get-minded, they’re not badalternatives.
Robert Evatt [email protected]
TECHFROM E1
Watch a video ofRobert Evatt test-ing the PantechElement tablet andPantech Burst smartphone.
tulsaworld.com/pantech
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