Author Archives: Admin

Inhofe appoints Tulsa native to staff

Staff Report

Wednesday, 05 August 2009
WASHINGTON, D.C. – U.S. Senator James M. Inhofe (R-Okla.) today announced the addition of a new staff member in his Washington office. Joel Starr, a Tulsa native, joins the office as Legislative Assistant and Counsel to the Senator on issues pertaining to Inhofe’s recent appointment to the Senate Foreign Relations Committee.

“As a native Oklahoman, I am very proud to join the Inhofe team,” Starr said. “Senator Inhofe will play a vital role on the Senate Foreign Relations Committee.  I look forward to using my professional foreign relations experience to assist him on this new committee assignment.”

Starr most recently served as the Deputy Assistant Secretary for Legislative Affairs at the Department of State.  He was responsible for relations between the U.S. House of Representatives and the Department of State.

Immediately before this position, Starr served as Acting Deputy Assistant Administrator for Legislative Affairs at the U.S. Agency for International Development (USAID).

He has also previously served as Counsel and foreign affairs Legislative Assistant to Congressman Tom Campbell of California, and as an Attorney/Advisor to Housing and Urban Development Secretary Jack Kemp.

Starr is a Major in the Judge Advocate General’s Corps, U.S. Army Reserve, and is a member of the 151st Legal Support Organization out of Alexandria, Virginia.

He is a graduate of Westminster College, the University of Oklahoma and Harvard University.

Last Updated ( Friday, 21 August 2009 )

Enjoy your life, change your point of view

Staff Report

"Two men look out through the same bars: One sees the mud, and one sees the stars."- Frederick Langbridge, A Cluster of Quiet Thoughts

If you’ve placed second in a writing contest, will you jump for joy and push for better results the next time or will you be discouraged and find an excuse not to join again?

In life, you are always filled with choices. You may opt to have a pessimist’s view and live a self-defeated life or you may decide to take the optimist’s route and take a challenging and fulfilling life.

So why nurture an optimist’s point of view? And why now?

Well, optimism has been linked to positive mood and good morale; to academic, athletic, military, occupational and political success; to popularity; to good health and even to long life and freedom from trauma.

Here’s how optimists are in action and researches that back up why it really pays to be an optimist:

Optimists expect the best

The defining characteristic of pessimists is that they tend to believe bad events, which will last a long time and undermine everything they do, are their own fault.

The truth is optimists are confronted with the same hard knocks of this world. What differs is the way they explain their misfortune—it’s the opposite way. They tend to believe defeat is just a temporary setback, that its causes are confined to this one case.

Optimists tend to focus on and plan for the ‘problem’ at hand. They use ‘positive reinterpretation.’ In other words, they most likely reinterpret a negative experience in a way that helps them learn and grow. Such people are unfazed by bad situation, they perceive it is a challenge and try harder.

They won’t say “things will never get better,” “If I failed once, it will happen again” and “If I experience misfortune in one part of my life, then it will happen in my whole life.”

Positive expectancies of optimists also predict better reactions during transitions to new environments, sudden tragedies and unlikely turn of events. If they fall, they will stand up. They see opportunities instead of obstacles.

People respond positively to optimists

Optimists are proactive and less dependent on others for their happiness. They find no need to control or manipulate people. They usually draw people towards them. Their optimistic view of the world can be contagious and influence those they are with.

Optimism seems a socially desirable trait in all communities. Those who share optimism are generally accepted while those who spread gloom, panic and hysteria are treated unfavorably.

In life, these people often win elections; get voted most congenial and sought for advice.

When the going gets tough, optimists get tougher

Optimists typically maintain higher levels of subjective well-being during times of stress than do people who are less optimistic. In contrast, pessimists are likely to react to stressful events by denying that they exist or by avoiding dealing with problems. Pessimists are more likely to quit trying when difficulties arise.

They persevere. They just don’t give up easily, they are also known for their patience. Inching their way a step closer to that goal or elusive dream.

Optimists are healthier and live longer

Medical research has justified that simple pleasures and a positive outlook can cause a measurable increase in the body’s ability to fight disease.

Optimists’ health is unusually good. They age well, much freer than most people from the usual physical ills of middle age. And they get to outlive those prone to negative thoughts.

So why not be an optimist today? And think positively towards a more fulfilled life.

Why not look forward to success in all your endeavors? Why not be resilient? Like everybody else you are bound to hit lows sometimes but don’t just stay there. Carry yourself out of the mud and improve your chances of getting back on the right track. And why not inspire others to remove their dark-colored glasses and see life in the bright side?
Last Updated ( Wednesday, 19 August 2009 )

Spears School’s Center for Applied Economic Research under new leadership

Staff Report

ADA, Okla. — The Chickasaw Nation, a federally-recognized Native American tribe, has issued the following news release:

The Chickasaw Nation will host its 9th annual Ada Area Job Fair 10 a.m. to 2 p.m. Thurs., Aug. 27, at the Chickasaw Community Center, 700 north Mississippi, Ada, Okla.

"If you have been looking for a career that you can be proud of, then come out and see what the Ada Area Job Fair has to offer you," said Darrell Walker, manager of Chickasaw Nation career services department.

More than 50 employers are seeking workers with varying levels of skills and experience in a wide variety of fields including health care, finance, retail, transportation, customer service, distribution, mechanical, food services, construction, manufacturing, oil field, industrial maintenance, and more.

This event will be open to the public and no prior registration is needed.  Come dressed for success and ready for a job interview to be conducted on site by many of the participating businesses.

"This is a great opportunity to find a job in the rough economic atmosphere or if you have a job to find a new job that would advance your career to the next level," said Walker.

Vendors wishing to obtain a booth space need to pre-register by contacting Darrell Walker at (580) 436-7294.

The 9th annual Ada Area Job Fair is sponsored by The Chickasaw Nation, Oklahoma Employment Security Commission, Southern Workforce Board, Oklahoma Department of Human Services, Citizens Bank, McCall’s Chapel, and Murray State College.

For more information, contact Mari Plumlee at 580-272-0733 or Darrell Walker at 580-436-7294.

AEP Reports 2009 second quarter earnings

Staff Report

American Electric Power Corp. issued the following news release:

American Electric Power (NYSE: AEP) today reported 2009 second-quarter earnings, prepared in accordance with Generally Accepted Accounting Principles (GAAP), of $316 million, or $0.67 per share, compared with $281 million, or $0.70 per share, for second-quarter 2008.

Ongoing earnings (earnings excluding special items) for second-quarter 2009 were $321 million, or $0.68 per share, compared with $280 million, or $0.70 per share, for second-quarter 2008.

The second-quarter 2009 per-share results reflect the dilutive effect of additional shares outstanding, which reduced ongoing earnings by $0.12 per share when compared to the prior year.

GAAP earnings were lower than ongoing earnings by $5 million for the quarter, primarily because of the reapplication of cost-of-service regulation for the generation portion of electric utility service for the Texas jurisdiction of AEP’s Southwestern Electric Power Co. utility.
A full reconciliation of GAAP earnings to ongoing earnings for the quarter and year to date is included in tables at the end of this news release.

"We’re pleased with our results for the quarter in light of the continued weak economy," said Michael G. Morris, AEP chairman, president and chief executive officer. "Our ongoing earnings for the quarter increased from the same period last year, and earnings per share were comparable to last year’s even with a greater number of shares issued. The increase is attributed to improved rate structures in a number of our states and to our successful efforts to control costs.

"But the effects of the weak economy are obvious," Morris said. "Electricity sold to industrial customers decreased from the same period last year. Off-system sales – electricity sold into the wholesale market – were down significantly from last year."

EARNINGS GUIDANCE

AEP reaffirmed its ongoing earnings guidance range for 2009 of between $2.75 and $3.05 per share. In providing ongoing earnings guidance, there could be differences between ongoing earnings and GAAP earnings for matters such as, but not limited to, divestitures or changes in accounting principles. AEP management is not able to estimate the impact, if any, on GAAP earnings of these items. Therefore, AEP is not able to provide a corresponding GAAP equivalent for earnings guidance.

SUMMARY ONGOING RESULTS BY SEGMENT

For details click here: (http://www.aep.com/newsroom/newsreleases/?id=1557)

Ongoing earnings from Utility Operations increased by $63 million in second-quarter 2009 when compared with the same period last year, primarily because of increased rates in AEP’s utilities in Virginia, Indiana and Oklahoma; the implementation of the Electric Security Plan (ESP) approved by regulators in Ohio, including the activation of a fuel clause; and lower operation and maintenance expenses.

These favorable items were somewhat offset by a reduction in both sales to industrial customers and off-system sales and the growth in capital-driven other expenses, such as depreciation and interest expenses, from the prior period.

AEP River Operations’ ongoing earnings were lower than in the same period last year because of reduced imports, which reduce barge freight demand, pressure spot market freight rates and increase the costs of relocating empty barges.

Ongoing earnings for Generation and Marketing decreased $22 million during second-quarter 2009 from the same period last year primarily because of lower gross margins from marketing activities, lower power prices in the Electric Reliability Council of Texas (ERCOT) and an extended planned outage at the Oklaunion Power Station. Earnings from wind farms were lower as a result of decreased wind generation and increased curtailments. Generation and Marketing includes AEP’s non-regulated generating, marketing and risk management activities, primarily in the ERCOT area.

All Other, which includes the parent company and other investments, was favorable in second-quarter 2009 when compared with the same period last year.

ONGOING RESULTS FROM UTILITY OPERATIONS

For details click here: (http://www.aep.com/newsroom/newsreleases/?id=1557)

Retail Sales – Results for second-quarter 2009 were improved from the same period last year primarily because of the impact of rate changes in Virginia, Indiana and Oklahoma and the implementation of the Ohio ESP, which includes the activation of a fuel clause at the Ohio Companies. The positive impact of the rate changes was somewhat offset by lower sales to industrial customers. Favorable weather, primarily in AEP’s eastern service areas, improved margins in the quarter. Heating degree-days in second-quarter 2009 were 9 percent below normal but 15 percent above the total for the same period in 2008. Cooling degree-days in second-quarter 2009 were 5 percent above normal and 8 percent above the prior period. In AEP’s western service areas, cooling-degree days for second-quarter 2009 were 2 percent above normal but 1 percent below the prior period.

Off-System Sales – Gross margins from Off-System Sales for second-quarter 2009 were $155 million lower than those in the same period last year. Volumes and prices were depressed by continued weak market demand.

Transmission Revenues – Revenues from transmission increased $8 million in second-quarter 2009 from the prior period, primarily from AEP’s transmission in the ERCOT and Southwest Power Pool regions.

Other Operating Revenue – The increase in Other Operating Revenue from second-quarter 2009 is because of a variety of non-tariff revenues, including the receipt of accidental outage insurance payments related to the September 2008 turbine vibration and subsequent fire at the Cook Nuclear Plant.

Operations & Maintenance Expense – Operations & Maintenance Expense for the quarter decreased $35 million from the same period last year, primarily because of lower plant outage expenses than in the prior period.

Depreciation & Amortization – The increase in Depreciation & Amortization from second-quarter 2008 is primarily attributed to an increase in plant balances and a higher depreciation rate at Ohio Power.

Interest Expense & Preferred Dividends – The increase in Interest Expense for second-quarter 2009 is primarily because of increased long-term debt and higher interest rates.

Other Income & Deductions – Other Income & Deductions decreased in second-quarter 2009, primarily because of interest income related to a claim for a federal tax refund in 2008 and lower carrying-cost income.

WEBCAST

American Electric Power’s quarterly conference call with financial analysts will be broadcast live over the Internet at 9 a.m. EDT today at http://www.aep.com/go/webcasts. The webcast will include audio of the conference call and visuals of charts and graphics referred to by AEP management during the call. The charts and graphics will be available for download at http://www.aep.com/go/webcasts .

The call will be archived on http://www.aep.com/go/webcasts for those unable to listen during the live webcast. Archived calls also are available as podcasts.

Minimum requirements to listen to broadcast: The Windows Media Player software, free from http://www.aep.com/go/webcasts, and at least a 56Kbps connection to the Internet.

AEP’s earnings are prepared in accordance with accounting principles generally accepted in the United States and represent the company’s earnings as reported to the Securities and Exchange Commission.

AEP’s management believes that the company’s ongoing earnings, or GAAP earnings adjusted for certain items as described in the news release and charts, provide a more meaningful representation of the company’s performance. AEP uses ongoing earnings as the primary performance measurement when communicating with analysts and investors regarding its earnings outlook and results.

The company also uses ongoing earnings data internally to measure performance against budget and to report to AEP’s board of directors.

-Full news release and supplemental tables (http://www.aep.com/newsroom/resources/earnings/2009-07/2ndqtr09earnings.pdf)

Last Updated ( Wednesday, 05 August 2009 )

Deadly plague on the rise, town quarantined

Staff Report

BEIJING- A rural community in northwest China has been quarantined due to an outbreak of Pneumonic plague.  

According to reports this morning, authorities have sealed off an entire town of 10,000, where a dozen or more have been infected with the highly contagious, deadly lung disease.    "The man who died Sunday was identified only as 37-year-old Danzin from Ziketan, the stricken town in Qinghai province," news reports said. 

Danzin was a neighbor of the first person who died, a 32-year-old herdsman whose name was not given. Another 10 people, mostly relatives of the first deceased man, were infected and undergoing isolated treatment in the hospital late Sunday night.  Health officials are indicating that anyone with a cough or fever who has visited the northwest China region since mid-July should seek treatment at a hospital. 

This plague, according to news reports, is spread through the air and can be passed from person to person through coughing.    Health officials believe that it is caused by the same bacteria that occurs in bubonic plague, which killed an estimated 25 million in Europe during the Middle Ages.  

Bubonic plague can be acquired through flea bites. However, it can be treated with antibiotics if diagnosed early.   Pneumonic plague is more serious as death can occur within 24 hours of the infection.   

Michael Wines reported this morning that an official who answered the emergency line at Renmin Hospital in Ziketan, where the outbreak is centered, said that all roads into and out of the area had been closed off, but that residents remained free to move about within the town.

The official, who refused to give his name, said it was unclear when the blockade would be lifted. Repeated calls to a plague emergency phone line produced only busy signals.   Ziketan is a remote, ethnically Tibetan town in eastern Qinghai Province, one of the largest and least populated regions of China.       

Article sources: Worcester Telegram, various health news releases, New York Times