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The stock market shows continued volatility as traders await a major speech this morning by Federal Reserve Chairman Ben Bernanke. Oklahoma home price appreciation ranks third in the U.S., with an increase in home values of 0.28 percent for the year ending June 30. Gov. Fallin says increasing the number of college graduates in Oklahoma is key to competitiveness in a knowledge-based economy.
A significant consolidation of state agencies goes into effect today, merging the Central Services Department, the Office of Personnel Management, the Oklahoma State and Education Employees Group Insurance Board and the State Employee Benefits Council with the state finance office. The OK Policy Blog features Oklahoma City Mayor Mick Cornett and Tulsa Mayor Dewey Bartlett discussing the successes and challenges facing their cities on OETA’s Oklahoma Forum.
The three Oklahoma soldiers killed in Afghanistan in recent weeks brings the death toll since their July 29th deployment to eight. In today’s Policy Note, the Small Business Majority releases a new guide for the 4 million small businesses that became eligible in 2010 for a tax credit to offset employer health plan costs. Today’s Number of the Day is the total amount spent on programs for children aged 0 to 5 years in Oklahoma.
In The News
Stock futures waver before Fed speech, growth data
U.S. stock futures are swerving between small gains and losses early Friday as traders await fresh economic data and a major speech by Federal Reserve Chairman Ben Bernanke. Bernanke’s speech at 10 a.m. is bigger news for traders of stocks, bonds and commodities. Many hope he will outline aggressive plans by the central bank to boost the economy. The Fed has already pledged to keep short-term interest rates low until mid-2013. Low rates make higher-risk bets such as stocks more attractive to investors.
Oklahoma home price appreciation ranks third in U.S.
Oklahoma was one of three bright spots in the nation, as U.S. housing slogs through a slump now in its fourth year since the 2007 subprime mortgage meltdown and start of the national housing bust. Oklahoma home values eked out an increase of 0.28 percent for the year ending June 30, according to the Federal Housing Finance Administration’s purchase-only index — refinancing scratched from the lineup — released Thursday.
Read more from NewsOK at http://newsok.com/oklahoma-home-price-appreciation-ranks-third-in-u.s./article/3598279#ixzz1W8kMdkwH
Fallin talks education, work force in Stillwater
Oklahoma’s economy is leaning more and more toward science- and technology-related industry, Fallin said, meaning many of the new jobs being created in the state are tech-related. As such, state leaders must ensure the education system is producing workers who are qualified to fill those jobs. “We need more college graduates,” she said. “We are living in a knowledge-based economy.” Earlier this year, Fallin signed a budget deal that included 5 percent cuts to higher education and 4 percent cuts to common education — pre-kindergarten through 12th-grade — while cutting state income taxes by .25 percent.
Read more from the Norman Transcript at http://normantranscript.com/local/x151680386/Fallin-talks-education-work-force-in-Stillwater
Under new Oklahoma law, state finance office takes over 4 agencies
The first significant consolidation of state agencies in recent years is just the first step to right-size Oklahoma’s government, a legislative leader said Thursday. Steele is the House author of House Bill 2140, which consolidates five agencies into one and is expected to save the state about $3.1 million a year. It goes into effect Friday, although efforts have been under way since the end of the legislative session in May on how to implement the legislation. HB 2140 consolidates the Central Services Department, the Office of Personnel Management, the Oklahoma State and Education Employees Group Insurance Board and the State Employee Benefits Council with the state finance office. They are under the authority of the state finance director.
Read more from NewsOK at http://newsok.com/under-new-oklahoma-law-state-finance-office-takes-over-4-agencies/article/3598216#ixzz1W8lvCX91
Watch This: A tale of two (Oklahoma) cities
In this half-hour broadcast of OETA’s Oklahoma Forum, Oklahoma City Mayor Mick Cornett and Tulsa Mayor Dewey Bartlett discuss the successes and challenges facing their cities with host Dick Pryor. The Oklahoma Forum blog succinctly sums up the challenges facing each of Oklahoma’s most populated cities: The cities have their special challenges – Tulsa is now looking at changing its form of government and is facing population migration to the suburbs. In the last decade, while Oklahoma City was showing a 15% increase in population, Tulsa recorded a slight decline.
Watch this on OK Policy Blog at https://okpolicy.org/watch-this-a-tale-of-two-oklahoma-cities/
3 more Oklahoma soldiers are lost
With a deployment that is less than two months old, the death toll for Oklahoma soldiers in Afghanistan has risen to eight. All eight Oklahoma soldiers have died since July 29. Most of them were deployed in June and July. Seven were part of the Oklahoma National Guard. The 279th Infantry has companies in Vinita, Claremore, Sapulpa and Sand Springs. Those soldiers are assigned to Paktia Province, south of Kabul, Afghanistan. The 45th Infantry Brigade sent 2,200 troops to Afghanistan and 1,000 to Kuwait.
Read more from the Tulsa Beacon at http://www.tulsabeacon.com/?p=5378
Quote of the Day
As we mourn his loss in the days ahead, we will be forever honored and proud that he chose to serve his country and the people of Oklahoma in the National Guard.
Maj. Gen. Myles Deering, the Adjutant General for Oklahoma, on the death of Spc. Joshua Michael Seals
Number of the Day
$1.500 Billion
Amount spent on programs for children aged 0 to 5 years in Oklahoma, FY 2010
Source: Oklahoma Policy Institute
See previous Numbers of the Day here.
Policy Note
Small Business Healthcare Tax Credits
The new law, called the Affordable Care Act, goes a long way in fixing the serious problems small businesses and the self-employed face in the current healthcare system, including skyrocketing costs. One of the first provisions implemented to help small employers better afford insurance was the small business healthcare tax credits. Approximately 4 million small businesses qualified in 2010 for the tax credit to offset employer health plan costs.
Read more from the Small Business Majority at http://dl.dropbox.com/u/19732897/Small%20Business%20Healthcare%20Tax%20Credits.pdf
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