Tulsa Economy

Tesla

DETROIT (AP) — Tesla has picked Austin, Texas, and Tulsa, Oklahoma, as finalists for its new U.S. assembly plant, a person briefed on the matter said Friday.

The person says company officials visited Tulsa in the past week and were shown two sites.

It wasn’t clear if there were any other finalists in the mix. The person, who didn’t want to be identified because the site selection process is secret, said no final decision has been made.

The International Union, United Automobile, Aerospace and Agricultural Implement Workers of America (UAW)

A major labor union has weighed in on the lease showdown between Tulsa Mayor G.T. Bynum and the IC Bus manufacturing plant.

In a statement from their president, Rory Gamble, the United Auto Workers said that the 1,600 workers at the plant "deserve better than the risky behavior that what [sic] we're currently seeing," and accused Bynum of using the workers as "bargaining chips."

American Airlines

American Airlines posted a loss of $2.2 billion for the first quarter of 2020.

Chief Financial Officer Derek Kerr said earnings projections were looking good until air travel nearly came to a halt in March.

"We began the quarter on track to exceed our guidance; however, the COVID-19 pandemic and unprecedented drop in demand during March radically changed our outlook. Given the unpredictable nature of this event, we suspended our guidance for all of 2020," Kerr said during a call with investors Thursday.

Libby Billings courtesy Libby Billings; Thomas Hunter courtesy Oklahoma Restaurant Association

Following prolonged mandated closures due to the coronavirus pandemic, and with the blessings of both Oklahoma Governor Kevin Stitt and a reluctant Mayor G.T. Bynum, Tulsa restaurants will be permitted starting Friday to welcome guests back to eat in their dining rooms.

Not too many are seizing that opportunity, though.

"Absolutely not," said restaurateur Libby Billings, whose downtown Tulsa eateries include The Vault, Roppongi, and Elote. 

Nearly two dozen business, nonprofit and health leaders will help plan the reopening of Tulsa’s economy after the COVID-19 threat begins to decline.

The Mayor's Economic Recovery Advisory Committee in partnership with the Tulsa Regional Chamber will look at steps other cities and states are taking to come up with a phased approach for Tulsa.

Matt Trotter / KWGS

Updated April 17, 2:10 p.m.

The City of Tulsa will furlough around 1,000 employees for half-days every Friday beginning May 3 through the end of 2020.

Mayor G.T. Bynum said high unemployment and low oil prices are expected to cause a dramatic drop in sales tax collections, the city's only source of operating funds.

Much like during last year's spring storms when the city decided to warn people to brace for a flood event on par with 1986, officials decided it would be best to prepare now for the worst-case scenario.