OKLAHOMA BRIEFS
Oklahoma Briefs: Tuesday, August 5, 2008

Comments 0

Published: August 5, 2008

Sales tax free holiday succeeds

The Oklahoma Tax Commission said the state's second tax free weekend was a success.

Featured Gallery

"It's good for the state,” said Paula Ross, commission spokeswoman.

Shoppers saved an estimated $6.6 million in taxes. A final tally won't be available until next month.

The tax-free holiday, which ran Friday through Saturday, allowed consumers to buy clothing and shoes priced under $100 without paying state sales tax.

"I think people will start anticipating that first weekend in August every year,” Ross said.

GMX reports jump of 171% in profits

GMX Resources announced a 171 percent jump in net income for the second quarter, compared to the same time the year before.

Net income was $12.6 million, compared with $4.6 million during the like period in 2007.

Company officials attributed the jump to strong natural gas prices, the company's ability to accelerate development of its properties and a 100-percent drilling success rate.

"The second quarter of 2008 has marked records in production, revenue, earnings and cash flow,” said Ken Kenworthy Jr., GMX's chairman, president and chief executive officer.

Kenworthy added those factors position the company to continue to accelerate its drilling program.

Business loans, startups discussed

The Women's Business Center of Rural Enterprises of Oklahoma Inc. will present a free workshop for business owners and entrepreneurs Aug. 14.

The session will feature local lenders discussing how to get a small-business loan and secure funds to start or expand a small business, how this process may differ, what types of small-business loans are available and how to be prepared for the loan process.

The workshop is scheduled for 11:30 a.m. to 1:30 p.m. at REI's Conference Center, 2912 Enterprise Blvd. in Durant. Lunch is provided. To register for the workshop, register at (580) 924-5094 or (800) 658-2823 by Aug. 11. For more information, visit the REI Web site at www.ruralenterprises.com.

Steak & Ale gift cards exchanged

Steak & Ale gift cards can be exchanged for a free entree at any Oklahoma City Texas Roadhouse.

Metromedia Restaurant Group, which operated Steak & Ale and Bennigan's Grill restaurants, filed for bankruptcy last week. Two Steak & Ale restaurants in Oklahoma City and one in Tulsa closed their doors.

Texas Roadhouse, a separate company, opted to take on any existing Steak & Ale gift certificates.

Guests have until Aug. 30 to exchange their Steak & Ale gift cards for a free entree certificate at Texas Roadhouse. Exchanges can also be made through the mail by calling (800) 839-76231.

From Staff Reports