Budget Briefing: How Would Chesapeake Layoffs or Another Warm Winter Affect Oklahoma?

Happy Friday, here’s your budget news roundup:

Do Chespeake Issues Foreshadow State Revenue Decline “What would happen to our state revenue base, for example, if there were massive layoffs at Chesapeake? I’m not arguing that’s going to happen, but the drop in natural gas prices alone raise that question. What if next winter is as warm as this winter? The Reuters article only adds more questions to what’s going on at the company these days.” (blueoklahoma.org)

American Airlines’ Parent Lost $1.7 Billion in 1Q “The parent company of American Airlines says it lost $1.66 billion in the first quarter, mostly on costs related to its bankruptcy restructuring. AMR is trying to reduce debt and labor costs by eliminating more than 14,000 jobs, freezing pensions and throwing out union contracts that it claims drive up costs with unnecessary work rules.” (newsok.com)

Save the Oklahoma Film Industry An OU Daily editorial weighed in on economic incentives for the state film industry: “In recent years, the film industry here has grown at quite a rapid pace. Unfortunately, two Oklahoma Senate bills threaten to collapse the Oklahoma film industry, just as it is beginning to truly bud. The program generates jobs and stimulates the economy, and the return is much greater than the investment.” (oudaily.com)


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