Tulsa World: Week In Review

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Week In Review
A look back at the week's top stories

Bill Jacobs, owner of Owasso Christmas Tree and Berry Farm, checks on the Virginia pines he has growing on his land. SHERRY BROWN / Tulsa World

By Staff Reports
Published: 11/29/2009 2:27 AM
Last Modified: 11/29/2009 9:53 AM

Trees and prices being cut at area tree merchants

Days before Thanksgiving, dozens of fresh pines at Bill and Paula Jacobs' tree farm were already claimed and awaiting lights, ornaments and, of course, a star on the top.

For the past few weekends, the Jacobs have opened their Owasso Christmas Tree and Berry Farm to eager yuletide patrons wanting to stake a claim on the perfect tree.

All across the metropolitan area, retailers and farmers are preparing to sell a fresh crop of trees — and at lower prices than last year.

Merchants are citing prices 10 percent to 20 percent lower for some trees, with even bigger declines for larger premium trees. Some point to lower transportation costs of shipping trees from Michigan and other Northern states, and some note the weak economy and a large crop of trees this year.

The Jacobses are selling 7- to 8-foot trees for about $52, down from last year's price of $59.50.

Jacobs is selling about 2,700 trees he grew this year, in addition to 1,700 trees of other varieties that he had shipped in.

- KYLE ARNOLD, World Staff Writer

Rental cars popular for 'short-burst' trips

Air travel is expected to decline over the Thanksgiving weekend due to the economy, but rental car activity is brisk both for quick holiday getaways and Black Friday shopping, industry officials say.

Rental car executives said people this year are renting cars to combine Thanksgiving "short-burst" vacations with day-after shopping, getting the trunk space they need for shopping without putting miles on the family vehicle.

"Compared with last year, reservations at our neighborhood (rental car) locations are up a little over 12 percent through Sunday for cars picked up Tuesday through Friday," said Enterprise spokesman Nick Maniscalco. "Many of our Tulsa customers are going to Dallas, Branson, Oklahoma City and Fayetteville, Ark., which is a pattern we have been seeing for the past year or so — short-burst vacations with a newer rental car.

- D.R. STEWART, World Staff Writer

Gasoline prices top rates for 2008 holiday

Travelers hitting the road for the Thanksgiving holiday will encounter pump prices that are sharply higher than in 2008.

The national average for a gallon of regular unleaded gasoline was $2.64 Tuesday, versus $1.91 at the same time last year.

In Tulsa, a common price for gasoline was $2.36, down a few pennies from Monday, but still 72 cents higher than 12 months ago, according to data from travel club AAA-Oklahoma.

AAA expected Thanksgiving driving to be up 1.4 percent nationally from 2008. In Oklahoma, holiday travel is expected to be up 7.5 percent.

- JOHN STANCAVAGE, World Staff Writer

SemGroup Energy CEO, treasurer leaving firm

SemGroup Energy Partners LP, which is already entering a new era with new leadership, soon-to-be new name and slightly less debt, now has a new credit deal with its lenders, the Tulsa midstream oil and gas firm announced Wednesday.

The amended credit agreement downsizes SGLP's revolving credit facility by $10 million to $40 million and prohibits the company from engaging in commodity hedging or price speculation, according to Wednesday's filing with the U.S. Securities and Exchange Commission.

The deal also noted that SGLP, which will be called Blueknight Energy Partners starting next week, has lopped $11 million off its revolving credit and outstanding borrowing totals compared with the credit amendment signed in April. The outstanding borrowing, however, stands at $422.5 million, while cash on hand is down to $19.3 million from the $29 million listed in April.

SGLP officials previously noted that cash flow will be down as the company pays off more debt. Vitol Inc. this week announced that its purchase of SGLP's general partner interest from Manchester Securities is complete.

Earlier this week, longtime SGLP leaders Kevin Foxx and Michael Brochetti announced their departures as CEO and treasurer, respectively. Foxx and Brochetti will stay on as consultants while Blueknight looks for new executives to replace them, according to reports.

Former Teppco Partners executive Michael Cockrell will move into SGLP's president and chief operating officer posts. Foxx jointly worked as CEO and president prior to his departure.

- ROD WALTON, World Staff Writer

Talks continue to reopen Gerdau Ameristeel plant

State and Sand Springs officials confirmed a report by Bloomberg News Friday that Gerdau Ameristeel is considering restarting the steel mill it idled Oct. 18.

Bloomberg reported that Gerdau is in talks with Oklahoma government officials to restart the Sand Springs mill, citing comments made by Gerdau CEO Andre Gerdau Johannpeter at an event in Sao Paulo, Brazil.

More than 200 employees lost their jobs with the area mill's closing. Only a crew of about 30 remains.

State Rep. Lucky Lamons, D-Tulsa, confirmed a meeting was held several weeks ago that included Sand Springs City Manager Doug Enevoldsen, a representative from Speaker of the House Chris Benge's office and four representatives from Gerdau.

"We're still trying to work with incentives such as the Quality Jobs Act, and the creation of a TIF (tax increment financing) district would do away with some taxes they would have to pay," he said.

Those incentives would require legislation, he said.

Enevoldsen said if successful, retooling would take about 24 months and create 200 to 300 jobs created in the area.

- NANCY HOLLINGSHEAD, World Staff Writer

By Staff Reports

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