It is good to live in Oklahoma right now for several reasons.
1) Oklahoma City has one of the lowest unemployment rates in the country and the state is not far behind. Just over a year ago, it was difficult to find talent because our state was virtually employed and those out of work didn’t want a job or were not qualified to get one. When compared to Texas and California, our job situation is great even though I still expect layoffs from big companies (probably oil and gas) sooner than later.
2) Oklahomans continue to ride the “prosperity wave.” Oklahoma business owners are hoping the recession skims past us because after riding the crest of the boom, we so far have not fallen victim to the undercurrents of the bad economy. The theory goes that by the time the national trends hit our state in Q3 or Q4 of this year, the national recovery will have started and we’ll miss the big downturn. Think of it like last weekend’s snow storm. Small oil and gas producers and public companies are certainly feeling the effects of the national recession, but most independent small businesses (defined as those with less than 1,000 employees) are pinching themselves because business is up. If I have heard it once, I’ve heard it 25 times.
The Bad
The AIG mess has President Obama scrambling to show his administration is in control of public companies who have received bailout money. As a result, the president flexed his political muscle on Sunday and has forced the resignation of GM CEO Rick Wagoner. The lead on Bloomberg went like this -
General Motors Corp. Chief Executive Officer Rick Wagoner was forced out after President Barack Obama’s task force decided he was unable to craft a plan to save the automaker he ran for more than eight years.
Huh? It is not that I’m upset about Wagoner being let go. I’m actually happy that he is gone due to the complete ineptitude of his leadership since assuming the helm in 2003. What I’m upset about is that the president’s task force “decided” has was unable to continue. Mr. Wagoner does not serve at the pleasure of the president. He serves the board of directors and shareholders of that company. If I’m Kenneth D. Lewis, chairman of Bank of America and others who took the T.A.R.P. money, I’m concerned (to put it lightly).
The Ugly
My Sooners fell to the Tarheels in the NCAA tournament to deny the team their first trip to the final four since 2002. Blake Griffin was terrific, again, with 23 points and 16 rebounds (an average game for Blake. No, literally it was about his average!). Yes, he is gone. The problem was the guards. I Twittered on Sunday before the game that two of three OU guards needed to have their best game of the year. Didn’t happen. I’m proud of the type of year they had, but shooting 2-19(!) from the three point line is not a prescription for success. Even though Griffin is undoubtedly gone (I said the same about Bradford) let’s hope that Jeff Capel calls a press conference today to confirm he is not interested in Kentucky, Virginia or any of the other available college jobs.
BONUS UGLY COVERAGE: If Travis Ford takes the Kentucky job, OSU would be crazy not to hire Billy Gillespie. I like the animated Ford, but Gillespie is his peer in every way.
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