Forbes names OKC most recession-proof

From Staff Reports
Published: May 1, 2008

Forbes magazine this week named Oklahoma City the most recession-proof city in America.
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Forbes said because of the city’s strong housing market, and solid growth in agriculture, energy and manufacturing, “it looks best positioned among the nation's largest metropolitan areas to ride out the current crisis.”

Other cities that are holding steady or improving are San Antonio; Austin, Texas; Houston; Charlotte, N.C.; San Jose, Calif.; Raleigh, N.C.; Salt Lake City; and Seattle.

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Just one last thought on the "low foreclosure" rate here, which is another falsehood anyway....perhaps if a study was done on the percentage of homeowners here versus renters you'd find a higher percentage of people rent here and foreclosure isn't an option for them.....
paul, yukon - May 5, 2008 5:12 PM
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Actually it IS a high foreclosure state, it ranked 23rd highest in the country last year. A lot of the states with the higher cost of living fared far better than the state that touts the "cheaper cost of living" as an attraction.One of these days it's going to sink in that this so called "cheaper cost of living" is NOT a benefit, as the numbers on most quality of life issues, and on the state infrastructure prove it to be a detriment rather than a benefit...
paul, yukon - May 5, 2008 5:09 PM
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This is NOT a high forclosure state, it is a very, very low forclosure state. I don't own a Taco Bell or MLM. We have an honest to goodness building, a 35 year old business and a huge customer base. We are very well respected in business. Just goes to show you what the word assume can be broken down to. You assumed, you are wrong.
Paris, Oklahoma City - May 5, 2008 9:45 AM
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Hey all your republican sheep this state voted for GB two times. This is the most incompetent administration in the history of this country. Wake UP! And this state has a very high forclosure rate. News Alert: This state is listed as the most storm proof.
John, Lacrosse - May 3, 2008 6:36 PM
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Hey all your republican sheep this state voted for GB two times. This is the most incompetent administration in the history of this country. Wake UP! And this state has a very high forclosure rate. News Alert: This state is listed as the most storm proof.
John, Lacrosse - May 3, 2008 6:34 PM
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Mister, you've read the story here about the "standstill" budget Okie just had to settle for. An oil and gas rich state, oil at 120 a barrel and NO MONEY in the state coffers. Yeah, this place is recession proof all right. One of these decades maybe the people of Okie and the legislature will discover the word "diversity" and expand their horizons somewhat.......I can't believe I missed the story about the light pole falling....how far away is 2012 anyway? Git er done with duct tape and tie wire and hope for the best until then...
paul, yukon - May 3, 2008 4:15 PM
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Paul as far as I-40 ...you missed the story on the news this week about the light pole blowing off the elevated part near downtown and falling on the ladies car and almost killing her. People keep going on about how its going to be moved and be brand ....new blah blah ....but how many will die in the mean time from the poor upkeep on the current one ? Also , why is a recession proof state having to close down over half its drivers license offices ? And I am sure Paris and her husband probably own a Taco Bell franchise or an all you can eat buffet ( tho I would be real nervous if I owned the latter in THIS town )
mister, bogata - May 3, 2008 8:29 AM
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I was born with nothing, but I'm fortunate, I still got most of that.
Nathen, Eskimo Falls - May 2, 2008 11:56 PM
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Almost sounds like MLM to me....
paul, yukon - May 2, 2008 6:40 PM
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Paul, I didn't know I was going to have to get into details. The job involves many things at many levels. There is no way to learn all in less than a year and a half. If thay make one blunder (and they do) it can cost the company thousands of dollars. They move ahead at their own speed. Just an opportunity for someone who wants to earn an honest days pay for giving us an honest 8 hours. If they are not willing to take a little responsibility then they stay at a lower level. Some are content to make less than others. Some are at a comfort level making $25,000 a year and others are more ambitious and make a lot more. I don't know many business that will take on a entry level person with no experience or education to speak of and give the the opportunity to make $65,000+ a year. We are a small company and only have 10 to 12 employees at a time. Some have been with us since we opened this location (10 years). Others drift or just don't show up for work. It is up to them. As the the story goes, those that want to work are employed. There are many others out there that just want a paycheck without doing the work. Not an Oklahoma thing, it is an American thing. We have one employee that rode his bicycle to work the first 6 months. After two years he is making more money than he ever thought it was possible for a non-high school graduate to make. He just bought his first house.
Paris, Oklahoma City - May 2, 2008 5:10 PM
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Well I guess I'm just confused. You say you review them at 90 days but lose money on them for a year, but you give them a pay raise at the end of 90 days if they show promise but you still lose money on them?..I still don't see in your first post where you mentioned anything about a 90 day review, and you didn't address that "comprehension" issue you accused me of having in your latest posting....
paul, yukon - May 2, 2008 3:45 PM
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Rant? You seem to be the angry one here. Obviously you don't understand. In almost any occupation the employer loses money on a new employee. They have to be taught and someone has to teach them. Time lost. Yes, at the end of 90 days they are reviewed. They go or stay. The amount of the raise is directly related to their ability to learn and apply what the have learned. The higher the wage they want to earn the longer it will take to teach them. They have to go in stages. They can stagnate at $10.00 an hour or move on up. Depends on them. They only get fired for not showing up or causing trouble with customers or other employees. We do not need highly educated people, just someone willing to work and learn and be a honest, cheerful employee. Of course the word "Cheerful" means little to you. You are a Grench like person.I feel so sorry for you, you seem so unhappy.
Paris, Oklahoma City - May 2, 2008 3:38 PM
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Go back and try again Paris, and show me in your first rant about how a raise happens after 3 MONTHS, will you? Who's got the comprehension problem?? If you lose money on these people for one year, you obviously aren't getting a very high caliber person. In my past experiences with employees, you might lose money on them for a month or so before they start generating a profit for you, if not then they get turned loose after a short probationary period.
paul, yukon - May 2, 2008 2:51 PM
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Where ever you came from, you obviously don't comprehend what you read. I stated $8.50 for a unskilled person for 3 months. (we lose money on these people for at least a year) The wage goes up after review at three months. We have people who make $65,000 per. It is not a dead end job. It has a future. A very bright future if anyone is willing to work and be there every day. Plus, they get insurance and a yearly bonus.
Paris, Oklahoma City - May 2, 2008 2:38 PM
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$8.50 times 40 equals $340.00 a week? Sign me up !! How many takers did you have for that kind of money anyway? I'm surprised they weren't beating down your door, all that money and the "cheap cost of living " here...it'll take you months just to interview all the people applying...
paul, yukon - May 2, 2008 12:10 PM
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Happy to do it for you Paul. Who knows, maybe others will join in with some Okie Money and you will be out of here in no time.
Paris, Oklahoma City - May 2, 2008 11:36 AM
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Happy to do it for you Paul. Who knows, maybe others will join in with some Okie Money and you will be out of here in no time.
Paris, Oklahoma City - May 2, 2008 11:36 AM
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Paris..the amusement I get to witness at the bumbling ineptitude is worth far more than 100 bucks, but thanks for trying to get rid of somebody who's realistic in this state..thanks for playing...
paul, yukon - May 2, 2008 11:00 AM
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Paul, how much would it take to get you to leave Oklahoma? I will offer the first $100
Paris, Oklahoma City - May 2, 2008 10:43 AM
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This does not surprise me in the least. I am in a real estate related business and real estate is great in OKC and area. I've go the numbers. Home prices have actually gone down a little. My husband owns a business and has had trouble finding anyone to start an entry level job @ $8.50 to start. All this job takes is being there and being willing to learn a trade. Anyone who shows the willingness to learn is given a good raise and a future that will support a family. He can't even depend on anyone showing up for an interview at 8:00 a.m. So, I agree that anyone who wants to work is working. This is a win, win situation for Oklahoma. Stand up and be proud.
Paris, Oklahoma City - May 2, 2008 10:42 AM
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I'm not so sure "hate" is the proper word...I think it's more like "loathing"...
paul, yukon - May 2, 2008 4:57 AM
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BJ, that is funny. Paul, please leave.
Matt, Oklahoma City - May 1, 2008 9:22 PM
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Oklahoma, Arkansas, Dogpatch..same same.....
paul, yukon - May 1, 2008 7:29 PM
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Um,Paul...I don't know how to tell you this, but Dogpatch is in Arkansas, pumpkin. Now, that state is located directly to our East (the same direction the sun comes up...)and easily accessible by jumping on I-40 and not stopping.
BJ, Oklahoma City - May 1, 2008 7:26 PM
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I see Paul is on here spreading his hate for Oklahoma.
He hates everything about our state yet,he wont leave.
james, Edmond - May 1, 2008 6:37 PM
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Michael
I totally agree with you....There are a quite a few cities in the US that are alot worse off we are here in OKC.
james, Edmond - May 1, 2008 6:17 PM
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Glad to see some good news for OKC = )
james, Edmond - May 1, 2008 6:10 PM
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"the most recession proof city in the USA"; I don't think so. The only reason for that claim is largely due to high energy prices. If it weren't for these few energy giants in this town, we be suffering by now. Forbes don't know a clew about whats happening in the job market. Dell, and Dayton Tire laid off some workers, GM closed it's highest paying plant and Kerr Magee relocated to Houston. Even the company i worked for has laid off some people and has eliminated one of two production lines because of slow business. Some workers are working four days a week every now and then. Also, the state has seen it's revenue decline, which in turn no pay raises for teachers and state workers, no funds for roads and bridges, etc ( perhaps due to tax cuts). The only new jobs that i seen lately are hotels, restaurants, stores, and a movie theater in Moore; and maybe oil and hospital related new jobs. My next door neighbor's wife is working two jobs because of high gas prices, high food costs, and high property taxes; and at the same time is facing an uncertain future at her job. So this story about OKC being a recession proof city is a myth as far as i'm concern. Some people here are going through some hard times just like the rest of the country.
robert, norman - May 1, 2008 6:07 PM
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You could try moving to east LA which ranks one of the highest in unemplyment and is a major coke dealing area or, compton where you would get your throat cut for a dollar or Long beach and swim in the toxic waist.I lived in New York for 2 years.No way you can tell me traffic better there than here...Count your blessings idiot.
Michael, Oklahoma City - May 1, 2008 6:02 PM
james, Edmond - May 1, 2008 6:03 PM
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You could try movingb to east LA which ranks one of the highest in unemplyment and is a major coke dealing area or, compton where you would get your throat cut for a dollar or Long beach and swim in the toxic waist.I lived in New York for 2 years.No way you could tell me traffic
better there than here...Count your blssings idiot.
james, Edmond - May 1, 2008 6:02 PM
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Paul:Try moving to LA and NY see how you like it.
You really have no idea what your talking about.
james, Edmond - May 1, 2008 5:55 PM
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Your in the minority on here Michael..more people agree with the philosophy of "we're at the bottom" so we can't be hurting any worse....and, I guess you haven't heard about the meth problem here, and the fact that OKC and Tulsa both rank as having worse drivers than even the big places like NYC, both OKC and Tulsa scored right near the top(or bottom) on worst drivers....so much for that little tidbit of yours....
paul, yukon - May 1, 2008 5:50 PM
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Paul:If you hate Oklahoma then,go away. Try living in LA,CA(my home city) Its a cespool of,drug addicts and,scumbags.Unemployment is thru the roof and, people like me,are moving away in droves to the midwest...I like living here.This city has alot to offer.Its very safe,traffic is not bad at all and,the people are some of the nicest I have ever met....So again, if you hate it here then get out.
james, Edmond - May 1, 2008 5:40 PM
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Paul:If you hate Oklahoma then,go away.
Try living in LA,CA(my home city) Its a cespool of,drug addicts and,scumbags.Unemployment is thru the roof and,poeple and poeple like me,are moving away in droves to the midwest...I like living here.This city has alot to offer.Its very safe,traffic is not bad at all and,the people are some of the nicest I have ever met....So again, if you hate it here the get out.
james, Edmond - May 1, 2008 5:39 PM
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I think this is wonderful news! Yes, things happen, we lose some business, we gain some. Look at all that is going on around you? Wake up! Enjoy.... We are not at the bottom of the barrel just because skank "Corporate America" gave American jobs to others..To "H-E-double hockey sticks" with them......We shall overcome. I have yet to meet one single person that was happy that used to work at GM, Lucent, AOL.....hard, hard labor and demeaning work. It was blessings in disguise for a lot of us. Fear keeps folks doing what they hate for years...and that is sad. I am seeing people smile that I wasn't even sure if they had teeth. Don't be so negative. Be proud.
BJ, Oklahoma City - May 1, 2008 5:35 PM
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Citizens of Dogpatch: Recession proof? Please. The big businesses have already left, even Dell laid off (read that fired and relocated) some 250 plus jobs to Texas. What new business has come into OKC lately anyway? Have wages gone up to bring them in line with the rest of the country? NO ! The largest city in Oklahoma is recession proof, yet the state just finalized a bare bones standstill budget for the year, and the promised raises for teachers is forgotten for at least another year. This state needs one of those nice "payday loan stores" in order to function from week to week, all the while falling in deeper and deeper. On a brighter note...I haven't heard anything about gaping holes opening up in the I40 in the past couple weeks, but give it a few more days. Who made mention of the farmers being in such great shape anyway? I'm sure they'll agree 110% with that comment since their fuel prices are going sky high....bye bye windfall and bumper crops.....keep trying Dogpatch, maybe someday....
paul, yukon - May 1, 2008 5:28 PM
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I find it hilarious given the fact that we have lost GM, it's affiliated companies, Exide, Lucent and Dayton in the past few years. I agree with Richard. We are "recession proof" because we have nothing else to loose!
Kevin, Del City - May 1, 2008 4:32 PM
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People are proud to be at the bottom of the barrel? When you're at the bottom, of course everybody will drop down to your level. Oklahoma's never had an economy to crash.
Richard, Oklahoma City - May 1, 2008 3:58 PM
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The unemployment rate decline for the last year, not referred to in the Oklahoman, but highlighted in Forbes article, does mean that fewer people were actively seeking work, correct? And the "great housing market" referred to by Forbes means higher prices for housing, correct? And the "growth" referred to, coupled with fewer people actively seeking work, means more lateral movement in the job market, correct? Oh, I fogot, "recesssion proof" in an economy that hasn't experienced a recession means something, too, correct? To summarize, OKC has fewer people seeking work, more people moving around from job to job and paying more for housing than last year, thereby being "recession proof" when there is no recession. These writers can make a landfill sound idyllic.
Percy F., Ardmore - May 1, 2008 3:39 PM
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Suck on this, Seattle, you latte-drinking, tree hugging, liberal pansies.
Brent, Norman - May 1, 2008 3:20 PM
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It's a great time to buy a new house in OKC right now. Rates are low, the market has been beaten down by all of the bad national news, and lots of good jobs are still opening up here every day.
Chris, Oklahoma City - May 1, 2008 2:38 PM
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OKC?
Kevin, Muskogee - May 1, 2008 2:27 PM
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my bad. I just saw the photo and link to the article in Forbes. Congrats.
Greg, Panama City, Panama - May 1, 2008 1:13 PM
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Time to come down to Earth!!! Two years ago, Steve Forbes said OIL will come down to $40.00 a barrel rather than go to $100.00...How close was he on that one???
JIM, WILLIS - May 1, 2008 12:59 PM
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This is great news for OKC and the city should be screaming it to the world. Why does such positive (and relevant!) news merit only two paragraphs? Last week coon hunting season was two pages and a video! I only read the online edition…is it even in the newspaper?
Greg, Panama City, Panama - May 1, 2008 12:45 PM
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Where's all the negative folks and Seattle people at?? Looks like coffee and computers can't save everything.
Jess, Warr Acres - May 1, 2008 12:41 PM
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Finally, agriculture is in strong enough economic shape to contribute to this. I'm glad for the wheat and corn farmers who have just been hanging on for so long. They've never had it so good as right now.
Jeffrey, Oklahoma City - May 1, 2008 11:55 AM
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When you've got nothing, you've got nothing to lose.
Brett, Oklahoma City - May 1, 2008 11:53 AM
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Sparky (Mark) I agree. However, the industries that permeate OKC are those that yield lower income levels. Focusing on Aerospace and Oil industry and all shall be fine.
Larry, Oklahoma City - May 1, 2008 11:47 AM
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Analyst have been saying this since last summer. I'm proud to be a resident of this city and this state but I still feel the recession in my pocketbook. Guess I should cutback on those HD channels huh? :)
Larry, Oklahoma City - May 1, 2008 11:45 AM
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Ok, lets get wages up to par then with cities in much worse shape!!!
Sparky (Mark), Oklahoma City - May 1, 2008 11:44 AM
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Guess that makes us the canary in the coal mine.
clinton, Norman - May 1, 2008 11:15 AM
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It's about time Oklahoma City is 1st in something good.
Suzan, Oklahoma City - May 1, 2008 10:51 AM
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Hey Seattle.....Choke on that!!!!
JJ, oklahoma city - May 1, 2008 10:35 AM
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Doesn't matter. Paul and Mister will find something else to cry about.
Tim, Yukon - May 1, 2008 10:25 AM
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paul, mister and the other chronic whiners haven't read this article yet.
Steve, Oklahoma City - May 1, 2008 10:02 AM
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