E 2 n n Wednesday, September 25, 2013

AA, US Airways seek DOJ documents

Two airlines ask for
evidence that DOJ used
to block their merger.
BY KYLE ARNOLD
World Business Writer
American Airlines and US Air-
ways want the names and interview
documents that helped persuade the
Justice Department to sue to block
the merger of the two carriers.
In a ling Tuesday in the anti-
trust lawsuit, the airlines asked a
U.S. District Court in Washington,
D.C., for the documents, including
interviews, that were collected in
the six months between when the
companies announced their merger
plan and the Department of Justice
lawsuit to block the combination.
The airlines are seeking the docu-
ments as part of the discovery phase
of the antitrust trial scheduled to
start Nov. 25. They say any inter-
views leading up to the DOJ lawsuit
should be available to all parties in
the lawsuit.
Plaintifs investigated the anti-
trust implications of Defendants
merger for many months before l-
ing their complaint in this action,
says a motion by Steven G. Brad-
bury, an antitrust lawyer working
for the airlines. Based on informa-
tion available to defendants (the
airlines), defendants have reason to
believe that as part of their inves-
tigation, plaintifs conducted nu-
merous interviews of third parties
regarding the likely efects of the
merger, and plaintifs maintain in
their les memoranda memorializ-
ing the factual information learned
in those third-party interviews.
The Justice Departments lawsuit
was led Aug. 13, just days before
the two airlines were set to merge
after American Airlines left bank-
ruptcy.
Federal antitrust regulators say
the merger would violate the law by
substantially hurting competition in
hundreds of markets and could lead
to higher prices and less selection
for consumers. Attorneys general
from seven states and Washington
have joined the antitrust lawsuit.
The airlines contend that the
combination of the countrys fourth
and fth largest carriers provides
needed competition to United Air-
lines, Delta Air Lines and South-
west Airlines.
American Airlines emergence
from bankruptcy is now on hold,
pending the outcome of the anti-
trust trial.
Last week the airlines asked the
Justice Department to turn over
documents from other airline merg-
ers dating back to 2005 that explain
the reasons regulators did not block
them, such as United and Continen-
tal in 2010.
Kyle Arnold 918-581-8380
kyle.arnold@tulsaworld.com
TULSAWORLD.COM
Complete coverage
of American Airlines
Find all the stories, photos, videos
and a timeline about Tulsas largest
employer.
tulsaworld.com/americanairlines
Schools Multi-Purpose Build-
ing, 1000 W. Fourth St., from 9
a.m. to 7 p.m.
In Ponca City, the job fair
will be at the Ponca City Coun-
try Club, 1101 N. Pecan Blvd.
Barton said most of the po-
sitions will be on the hotel
and restaurant side, but the
casinos are expecting to hire
gaming-related employees.
Osage Casinos announced
last year that it was making
upgrades at all of its facilities.
The Ponca City expansion,
slated to open Dec. 23, will
add a 48-room hotel and ex-
pand the building from 6,000
square feet to nearly 90,000
square feet. When its n-
ished, the casino will host
about 450 slot machines,
more than double the cur-
rent number. It will also have
a restaurant and bar, along
with new exterior landscap-
ing and signs.
The Skiatook Casino will
grow to nearly the same size,
with 300 electronic games
and six table games. It will
have a 33-room hotel with a
swimming pool and dining
area, as well as meeting and
convention space. A 60-seat
restaurant also will be added.
Osage Casinos is encourag-
ing applicants to bring gov-
ernment-issued identica-
tion, and says that it conducts
pre-employment drug tests
and background checks.
The positions are not lim-
ited to applicants with tribal
afliations.
Kyle Arnold 918-581-8380
kyle.arnold@tulsaworld.com
CASINOS
FROM E1
Warren said every time he
builds a theater, he makes
sure its better than his last.
He said the Broken Arrow
theater will be similar to the
one in Moore, only its on
steroids.
Last year, the Warren The-
atre in Moore had about 1.5
million visitors, Warren said.
I think this will be even
more successful, he said.
Warren said he studied the
Tulsa market for a couple of
years before deciding to lo-
cate in Broken Arrow.
We think Broken Arrow is
an exciting community, War-
ren said. City leaders are also
pro-business, he said, and the
highway will provide easy ac-
cess to the site.
Broken Arrow ofcials and
Shops at Aspen Creek devel-
oper Danny Signorelli said a
lot of work and collaboration
went into bringing the the-
ater to the city.
The city of Broken Arrow
is ofering a $7.25 million in-
centives package to Signorel-
li, which includes sales-tax
rebates, and costs for util-
ity construction, storm water
retention and rights-of-way
purchases. The incentives
will be funded by revenue
from the 2008 and 2011 bond
packages.
Sales-tax revenue from
the theater is estimated at
$750,000 a year.
People just dont real-
ize what were going to have
here, said Mayor Craig
Thurmond. This is going to
be the destination attraction
for the whole metro area.
Thurmond said that with
the theater serving as the an-
chor, the commercial center
is likely to have more retail
than Tulsa Hills.
Signorelli said the theater
has put the development at
another level.
If youre going to have a
project like the Shops at As-
pen Creek were talking a
half a million square of feet of
retail the big base to that is
the anchor, he said. And to
land something as special as
the Warren Theatre, it just
changes the rules. It changes
the business model because
a Warren Theatre is going to
put more people out here.
Nour Habib 918-581-8369
nour.habib@tulsaworld.com
DANNY WILLIAMS/Tulsa World
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111th St.
91st St.
101st St.
131st St.
121st St.
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Area shown
Creek Turnpike
Warren
Theater
The Shops at Aspen Creek The Shops at Aspen Creek
121st St.
WARREN
FROM E1
Yet with all the awkward-
ness, there are advantages
to its huge size. The bigger
space for the virtual key-
board makes typing easier,
and applications, websites
and videos show up big
and clear. It comes close to
rivaling a traditional tablet
experience.
Unfortunately, that experi-
ence is lessened by Megas
display. The picture quality is
OK at best, and colors arent
nearly as vivid as Ive seen in
other models. It seems like a
wasted opportunity to truly
blow people away with size
and sharpness.
A similar sense of medi-
ocrity pervades every other
aspect of the phone. The
body is a giant version of
every other Galaxy phone
out there thats why I kept
thinking it was a comedy
prop and still features the
same almost-cheap-feeling
plastic back thats overdue
for an upgrade.
Samsungs take on the Jelly
Bean version of Android runs
well and hitch-free, though
its not as buttery-smooth
as the less-altered Android
on the Nexus and Moto X
phones. Basic functions
perform solidly, though the
midrange processor doesnt
have the same oomph as top-
of-the-line phones.
Snapshots produced by the
Megas 8-megapixel camera
look ne, but the camera
software is utterly stripped
of extra options found on
other Samsung smartphones.
Adequate point-and-shoot is
about all youll get.
There is an additional
attribute other than its
dimensions that makes the
Mega stand out. Its battery is
surprisingly strong. Maybe
Samsung used all the extra
space to cram a jumbo power
source in there.
All in all, Mega is a mid-
range phone with gigantism.
The good news is that its
priced to match at $149, mak-
ing it competitive. Just dont
expect too much substance
hidden inside that size.
MEGA
FROM E1
Samsung Galaxy Mega
$149 with two-year contract
Pros: Gigantic, decent
performance, surprisingly
strong battery, inexpensive
Cons: Gigantic, limited
camera options, unimpres-
sive screen quality
carry many of the same prod-
ucts but will have a whole
new look, he added.
Remodels of Reasors loca-
tions at 71 Street and Sheri-
dan Road and 41st Street and
Yale Avenue have been put
on hold until the Brookside
location has been completed.
Asked about plans for fu-
ture expansion, Reasor sim-
ply said the chain has a few
feelers out, and they might
surprise people. The grocer
is still negotiating for land in
one area and might possibly
pick up another location. He
noted that the sites under
consideration are within a
125-mile radius.
But more than likely that
expansion is on hold until we
digest these and get that new
look, he said.
Sitting in large red chairs,
Reasor and Bartlett bantered
back and forth during a lun-
cheon presentation. Fielding
questions from Bartlett and
the luncheon audience, Rea-
sor touched on several topics,
including the grocery chains
history, challenges of carry-
ing locally produced goods,
concerns about employee
health insurance, popular-
ity of organic products, the
movement toward smaller
grocery stores and more.
Reasors, which celebrates
its 50th anniversary this year,
remained family-owned until
2007, when it became an em-
ployee-owned company. The
store employs about 3,000
people.
Whereas Reasors father
bought his rst store in
Tahlequah for $100,000, the
company spent $17 million
for the land and building of
its Bixby store.
Today, Reasors stores
range from just under 44,000
square feet to 85,000 square
feet at 1885 S. Yale Avenue.
Most of its stores aver-
age about 73,000 to 75,000
square feet.
Grocery stores are getting
smaller, Reasor said. When
the company acquired the
former Albertsons store at
15th Street and Lewis Av-
enue, Reasor said he was
scared of potential customer
backlash because the site
was about 15,000 square feet
smaller than the other stores,
but it didnt turn out that way.
He also noted that Rea-
sors sells more organic pro-
duce than anyone else in the
state, but doesnt get credit
for it. Other stores such as
Sprouts and Whole Foods
have done a good job of ap-
pealing to those customers,
but Reasors is working with
a branding company to help
emphasize its organic pro-
duce, Reasor said.
Asked if the company has
made plans to prepare for
the Afordable Care Act,
commonly referred to as
Obamacare, Reasor said the
law is confusing and he is
concerned about it. Almost
50 percent of the stores em-
ployees are full time, working
32 hours or more a week, and
qualify for health insurance.
Weve got a great plan.
We dont know where were
headed right now. And to be
honest with you, we may not
provide health care in the
next year or two. We may not
be able to aford it, he said.
Using north Tulsa as an ex-
ample, Bartlett asked Reasor
to talk about why it would
take such a long time for a
grocery store to locate in
some areas where there seem
to be sufcient numbers of
people to support a grocery.
North Tulsa has good de-
mographics, and there is a
need, Reasor said. The for-
mer Albertsons at Pine Street
and Peoria Avenue averaged
about 20,000 customers a
week, which was similar to
what some Reasors stores
average. The problem was
that the average purchase
was about 40 percent of what
Reasors sees.
There were not enough
dollars to be protable. Its
just a simple numbers game,
Reasor said.
He also talked about why
there suddenly seems to be a
lot of activity in the grocery
business.
Retailers understand who
their customer is, he said.
And I think there were a lot
of things queued up where
people were looking for the
opportunity to either enter
the market or had a plan.
Laurie Winslow 918-581-8466
laurie.winslow@tulsaworld.com
REASOR
FROM E1
71st St. S.
81st St. S.
91st St. S.
101st St. S.
11th St. S.
21st St. S.
31st St. S.
41st St. S.
61st St. S.
G
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Admiral Pl.
44
244
169
169
64
51
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3
4
5
6
51st St. S.
1 4818 E. 80th St.
2 7990 E. 51st St.
3 10122 S. Memorial Dr.
4 11214 E. 71st St.
5 3328 E. 51st St.
6 3915 S. Peoria Ave.
Food Pyramids
awaiting buyer
To be acquired
by Reasors
DAVID HOUSH/Tulsa World
once placed a wooden plank just be-
neath the surface of a pool so he could
appear to walk on water. This was the
man who sometimes brought a trained
chimpanzee to appearances. This was
the man who had his own theme song,
The Bagholders Blues.
Indeed, he liked to make an en-
trance. He once ew to the stage on a
100-foot wire. Another time, he arrived
by dogsled. He made speeches wearing
a toga, dressed as Moses and holding a
hand grenade.
If you think Jim Cramer is bon-
kers, let me set you straight: Granville
invented bonkers. Imagine a combina-
tion of Cramer, P.T. Barnum and The
Amazing Kreskin and you are getting
close to the force of nature that was
Joe Granville.
The Kansas City-based Granville
sometimes was called the prophet of
prot, but became best known as a
prophet of doom.
Claim to fame
His biggest claim to fame was
predicting a sharp downturn on Jan.
6, 1981. Publishing a popular newslet-
ter in the pre-Internet days, Granville
went to press with a headline that
screamed Straight Up. But Granville
had a change of heart and had his staf
make a urry of phone calls to his
subscribers. Sell everything! they
yelled before hanging up to make the
next call.
Sure enough, Granville had guessed
right and the market fell 2.4 percent
the next day.
The analyst still was riding the
publicity from that prediction when
I rst talked to him. His $250-a-year
newsletter was ourishing, he was
interviewed often on TV and traveled
150,000 miles a year giving presenta-
tions at $15,000 a night.
Retrieving his teeth after his two-
hour presentation here, Granville kind-
ly sat with this 24-year-old greenhorn
nancial writer and talked about his
career.
Granville was born
Aug. 20, 1923, in Yon-
kers, N.Y. The son of
a banker, he rst was
a musical prodigy,
improvising on the
piano at age 3.
At 18, he pub-
lished his rst book,
a mixture of poetry
and philosophy. He
enrolled at Duke
University, and later
enlisted in the Navy.
While stationed on
the Marshal Islands,
he wrote Price
Predictions, which
forecast future values
of stamps, not stocks.
In 1957, Granville
was hired by E.F.
Hutton to write the
rms daily market
letter. He quit in 1963, complaining
of too much editing, to found The
Granville Market Letter. He also
wrote many more books over the years,
including The Warning (1985), and
Granvilles Last Stand (1995).
Granvilles skills as an entertainer
sometimes overshadowed his knack
for technical analysis.
(Granville) either created or
popularized several indicators that
are in widespread use today such
as on balance volume, analyst Mark
Hulbert wrote in a MarketWatch blog
following Granvilles death.
OBV essentially relates volume
to price change and tracks whether
volume is owing in or out of a given
security.
On the night I spoke to Granville
in 1984, he mentioned OBV, but also
ofered about a dozen other indicators
that he interpreted as being highly
negative.
At the time, Granvilles forceful pre-
sentation seemed hard to argue with.
Most of the points made sense, and he
ofered plenty of historical precedents
to back each up.
Granville, however, was also prone
to ignoring some of his own trusted
indicators at times when they didnt
match his gut feelings. This may have
got him in trouble, as he never seemed
far away from controversy or even
ridicule.
The Wall Street Journal, in 1997,
said Granville has made more bad
calls than a baseball ump at a cricket
match.
Even Hulbert, in a remembrance
that was largely complimentary, admit-
ted Granville had a disastrously poor
track record.
Predictions
To be fair, along with the 1981 drop,
he predicted the 1977-78 bear market
and the 2000-01 Internet stock sellof.
More recently, in March 2008, Gran-
ville said the Dow Jones industrial
average would end the year near 9,000,
more than 27 percent below its level of
12,392 at the time. The index closed at
8,776.39.
His critics and there were many
would point out that he missed the
1982-87 bull rally (his 12 indicators
of disaster in my 1984 story coming
to naught) and the Standard & Poors
1995-2000 run.
The emergence of the Internet, with
its ability for DIY analysis and tens of
thousands of nancial bloggers and
message boards, was a challenge for
Granville. But, he created a website
and kept going.
Even at the age of 88, the prophet of
doom couldnt resist one last stab at
shocking investors. In January 2012, he
told Bloomberg News the Dow would
drop toward 8,000 during the year. At
the time, the Dow was at about 12,700.
The lowest it actually got was 12,100,
while soaring as high as 13,610.
Still, Granville brought something
rare to the often dry world of nancial
analysis fun. And he did teach basics
to many consumers where were largely
lacking in such education.
When people are entertained, they
remember three times as much, he
once said of his methods.
At the height of his career, Granville,
perhaps bored with the stock game,
turned to predicting earthquakes. Most
famously, he forecast that Los Angeles
would be attened in 1981.
Luckily, Joe Granville couldnt move
mountains. But he could move markets.
With or without his teeth.
GRANVILLE
FROM E1
THE PROPHET
Joe Granville: He
brought fun to
the world of -
nancial analysis.
When people
are entertained,
they remember
three times as
much, he said.
Oklahoma markets
The state Department of Agriculture
reported the following closing prices
Tuesday.
U.S. No 1 HARD RED WINTER
WHEAT: .06 to .08 higher. 6.35-7.00.
Davis 6.35, Manchester 6.79, Hobart,
Shattuck 6.80, Alva, Bufalo 6.81, Chero-
kee, Frederick, Medford, Ponca City 6.84,
Banner, El Reno, Geary, Lawton, Okarche,
Okeene, Temple, Watonga 6.85, Perry,
Stillwater 6.87, Clinton 6.88, Eldorado,
Weatherford 6.90, Hooker 6.92, Keyes
7.00, Gulf 7.75.
MILO: .07 lower. 7.04-7.69.
Manchester 7.04, Keyes, Weatherford
7.30, Alva, Bufalo, Medford, Ponca City,
Shattuck 7.48, Hooker 7.69.
SOYBEANS: Mixed. 12.11-12.56.
Hooker 12.11, Shattuck 12.46, Stillwa-
ter 12.52, Alva, Bufalo, Medford, Ponca
City 12.56, Gulf 14.06.
CORN: .04 lower. 4.24-4.76.
Medford, Ponca City 4.24, Manches-
ter 4.29, Keyes 4.74, Hooker 4.76, Gulf
5.07.
CANOLA (CWT) 17.88-18.38 cwt.
Red Rock 17.88, El Reno 18.28, Yukon
18.38, Apache, Dacoma, Enid, McWillie,
Clyde, Hillsdale, Bison N/A.
COTTON; Grade 41, Leaf 4, Staple 34
Cotton in southwestern Oklahoma aver-
aged 82.50 cents per pound.
EGGS: Large $1.29; medium $1.03;
small $0.87
Oklahoma livestock
The state Department of Agriculture
reported the following prices Tuesday at
the Oklahoma City Stockyards:
Actual receipts: 7,914; week ago:
6,951; year ago: 8,804.
Compared to last week: Feeder steers
and heifers steady to 2.00 higher, heifers
showing most advance on those over
800 lbs. Demand moderate to good for
feeder cattle, following last weeks bullish
Cattle on Feed Report. Steer and heifer
calves unevenly steady. Light weight
steer and heifer calves traded sharply
higher, and rebounded from last weeks
losses.Receipts this week totaled 59 per-
cent over 600 lbs and 38 percent heifers.
Feeder Steers Medium and Large 1:
Calves: 300-325 lbs 225.00; 325-400
lbs fancy 213.00-231.50, pkg 395 lbs
194.00; few 425-500 lbs 186.00-197.00;
500-550 lbs 169.00-178.00, fancy
182.75-192.50; 550-600 lbs 158.75-
168.50, eshly 155.00-163.00; 600-650
lbs 154.00-164.00; 650-700 lbs
153.00-159.00; 600-700 lb eshy calves
149.50-150.00; 700-750 lbs 150.00-
157.00; Yearlings: 600-650 lbs 164.00-
171.00; 650-700 lbs 160.00-172.00;
700-750 lbs 156.00-167.00; 750-800 lbs
155.50-161.50, lot 780 lbs eshy 153.50;
800-850 lbs 152.25-158.50; 850-900
lbs m150.25-152.00; 900-975 lbs 141.00-
144.00, lot 900 lbs thin eshed 149.75.
Medium and large 1-2: 300-400 lbs
178.00-192.00; 445-500 lbs 178.00-
186.00; 500-600 lbs 161.00-169.00,
500-515 lbs eshy 153.50-160.00;600-
700 lbs 155.00-165.75, pkg 635 lb calves
145.00; 700-800 lbs 151.00-162.00, pkg
725 lb calves 147.50; few 800-850 lbs
146.00-150.00; 900-950 lbs 138.00-
143.00, 925 lbs eshy 130.00; lot 1000
lbs 135.75.
Medium and Large 2: 550-600 lbs
150.00-160.00; 625-700 lbs 149.00-
155.00, 600-650 lb calves 145.00-
149.50; few lots 725-760 lbs 148.00;
775-800 lbs eshy 143.00-145.50; pkg
815 lbs 149.00.
Holsteins Large 3: lot 595 lbs 90.00;
lot 665 lbs 85.00; 750-775 lbs 105.75-
106.25.
OKLAHOMA AGRICULTURE