KVOO building (copy)

Griffin Radio is part of Oklahoma City-based Griffin Communications, which also owns KOTV-6 in Tulsa. Tulsa World file

Griffin Radio Tulsa sells former KVOO Building for $1.36 million

Griffin Radio Tulsa, LLC has sold the former KVOO Building at 4590 E. 29th St. for $1.364 million, Tulsa County land records show.

The buyer was 4590 E. 29th LLC (Patrick Jason Hurt), documents indicate.

The new cost for doing business in Tulsa.

For those who care about business and this community, we have a deal for you. Start a digital subscription for only $0.99. Sign up now at tulsaworld.com/subscribe.

Built in 1985, the structure has 17,789 square feet of space.

Griffin Radio is part of Oklahoma City-based Griffin Communications, which also owns KOTV-6 in Tulsa.

Holiday on plastic: U.S. credit card debt surged in December

WASHINGTON — Americans gave their credit cards a real workout this past holiday season.

The Federal Reserve said Friday that borrowing on credit cards rose by the largest amount in more than two decades in December.

Total U.S. consumer borrowing rose $22.1 billion in December, the central bank said. That was the biggest gain since July and nearly double the $11.8 billion increase in November.

The overall December surge was led by a $12.6 billion increase in the category that includes credit cards. It was the biggest one-month gain in credit card debt since a $19.5 billion increase in April 1998.

December’s jump came after a $2.9 billion decline in credit card borrowing in November. The surge in credit card borrowing in December was another sign that retailers had a good holiday shopping season, although a growing share of those purchases are going to online retailers rather than brick-and-mortar stores.

Hyundai recalls Elantras for problem that can cause engine fires

DETROIT — Hyundai is recalling nearly 430,000 small cars because water can get into the antilock brake computer, cause an electrical short and possibly an engine fire.

The recall is another in a series of problems that the South Korean automaker and its related company Kia have had with engine fires during the past few years. Past problems have triggered an investigation by the U.S. National Highway Traffic Safety Administration.

The latest recall covers certain 2006 through 2011 Elantra and 2007 through 2011 Elantra Touring vehicles.

The company says the electrical short can cause a fire even when the cars are turned off. But Hyundai said Friday that the rate of fires is so low that it’s not necessary to park the cars outside.

Hyundai said in documents filed with the U.S. government that it has three reports of fires and no related injuries.

Fed signals steady interest rates as economic risks lessen

WASHINGTON — The Federal Reserve believes that downside risks to the U.S. economy have lessened with the easing of trade tensions and better prospects for global growth but officials note a concern that possible spillovers from a deadly virus in China represent a new threat.

In its semi-annual monetary policy report released Friday, the Fed did not signal any imminent changes in its benchmark interest rate, which it cut three times last year to the current historically low range of 1.5% to 1.75%.

The Fed said after quarter-point rate cuts at the July, September and October meetings it has viewed the present level of interest rates to be “appropriate to support sustained expansion of economic activity” and a strong labor market and inflation rising to the Fed’s 2% target.

Federal Reserve Chairman Jerome Powell will testify before congressional committees on the new report on Tuesday and Wednesday, and his testimony is expected to amplify the Fed’s view that no further changes in interest rates are needed.

Many economists believe the Fed will keep rates unchanged for the entire year although some analysts think there is still the chance of one more rate cut if risks such as the coronavirus outbreak in China threaten to slow U.S. growth.

— From wire, staff reports

Subscribe to Daily Headlines

* I understand and agree that registration on or use of this site constitutes agreement to its user agreement and privacy policy.