Tulsa World: Biz Quicks

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Biz Quicks

FILLING IN
Emily Call: She has been at the chamber since 2006.

By Bloomberg, AP and staff reports
Published: 1/22/2009 2:31 AM
Last Modified: 1/22/2009 3:51 AM

Banking sector leads Wall Street rebound

Wall Street snapped back Wednesday from a steep sell-off with a rebound in the same financial stocks that were pummeled the day before.

Upbeat comments from banks and hopes that Washington will offer more help to the economy powered a rally that recovered most of the previous session's losses.

Some bounce had been expected after the Dow Jones industrials tumbled 332 points Tuesday, but forecasts from PNC Financial Services Group Inc. and Bank of New York Mellon eased concerns that the troubles at financial giants like Citigroup Inc. were hitting all banks.

The Dow rose 279.01, or 3.51 percent, to 8,228.10; the Standard & Poor's 500 index advanced 35.02, or 4.35 percent, to 840.24; and the Nasdaq composite index rose 66.21, or 4.60 percent, to 1,507.07.

Many banks reversed double-digit drops from Tuesday with double-digit gains.

Bartlesville chamber gets interim CEO

Leaders of the Bartlesville Regional Chamber of Commerce have selected Emily Call, vice president of marketing, as the organization's interim CEO.

She will take the top staff management job Feb. 1 when CEO Jim Fram leaves for a position with the Tulsa Metro Chamber.

"The board of directors along with our chair, Donna Skelly, have the ultimate confidence in Emily's knowledge and management ability with chamber programs and projects," Fram said.

Call began her tenure with the Bartlesville chamber in 2006 as director of membership.

She now is responsible for all revenue-producing programs and chamber events.

A Bartlesville native, Call has a degree in business management from Rogers State University and is completing studies at the Institute for Organization Management at the University of Arizona.

Toyota tops GM in global sales

Toyota Motor Corp. of Japan sold more cars and trucks last year than General Motors Corp., stripping the Detroit automaker of the No. 1 global sales crown. But it's a victory made hollow by the overall industry's struggle for viability amid one of its worst sales declines ever.

GM said Wednesday that it sold 8.356 million vehicles in 2008, falling about 616,000 short of the 8.972 million Toyota announced Tuesday.

Mike DiGiovanni, executive director of global market and industry analysis at GM, downplayed the significance of the drop to No. 2.

"I don't think being No. 1 in vehicle sales means much at all to the American consumer," he said. "I think what matters most to the consumer is strong brands and strong products. And the key thing right now with what the industry is going through now is viability and profitability."

Toyota sales fell 4 percent in 2008.

Offshore pipeline repaired, operating

The offshore Discovery gathering system's main pipeline — damaged last year by Hurricane Ike — is repaired and running again, Williams Partners LP announced Wednesday.

Crews worked on the 30-inch natural gas pipeline since the September storm. The Gulf of Mexico conduit is now transporting about 150 million cubic feet per day in natural gas, the Tulsa-based partnership said.

A 18-inch lateral line, which was severed from the bigger pipe in about 250 feet of water, is still being repaired. The damage is shutting in about 30 million cubic feet per day of natural gas production.

The lateral may be back in production by February.

Williams Partners owns 60 percent of the Discovery system.

By Bloomberg, AP and staff reports

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