View Full Version : Costco "Considering" Oklahoma, however?



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progressiveboy
08-21-2011, 09:46 AM
Interesting article in today's DO regarding selling wine in Grocery Stores. It appears that the OKC Chamber of Commerce prefers to get an initiative petition started versus the current task force committee they currently have started. It appears that Costco wants to open up shop in Oklahoma with "well above wages" based upon Oklahoma standards, however they want the liquor laws changed so they are able to open in Oklahoma. Trader Joes is considering opening stores as well, however, it comes down to the States "archaic liquor laws. I believe an initiative petition should get started and let the voters and the will of the people decide either for or against. What are your thoughts? People in Oklahoma generally complain about lack of good stores and retail options available, maybe a good start is to sign the petition once it gets started.





http://newsok.com/chamber-wants-wine-in-oklahoma-grocery-stores/article/3596337?custom_click=headlines_widget

Questor
08-21-2011, 10:12 AM
I have no faith in our legislature to do the right thing. I would therefore be happy to sign a petition.

Maynard
08-21-2011, 10:15 AM
....
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....
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....I believe an initiative petition should get started and let the voters and the will of the people decide either for or against.
....
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This! ☻

HewenttoJared
08-21-2011, 10:23 AM
Some wage competition in our retailers would be fantastic.

Larry OKC
08-21-2011, 02:22 PM
This was brought up by someone in an older thread about our "archaic" laws. They mentioned that Costco has locations with laws similar to ours. What about Trader Joes? While I can understand it being an added high profit revenue stream for them, if they can make it work in other places why not here. In other words, why rule Oklahoma out?

Thunder
08-21-2011, 06:25 PM
Only one can be at fault. Costco. They can whine all they want, but they are to be blamed for not opening a location in Oklahoma. Liquor are not required to be an established successful business. Look at the numerous businesses in Oklahoma thriving without liquor sales. Wake up, Costco! Get your butts to Oklahoma and become established. Only then will the push for a change in Oklahoma's liquor laws can be likely to be changed with the strong presence of supporting businesses. Enough said.

(Feel free to forward this post to Costco Administration.)

Celebrator
08-21-2011, 06:54 PM
The only two national stores we are missing here in OKC for me! Love them both a ton and hope they come here soon.

ou48A
08-21-2011, 08:14 PM
The local market is saturated with similar types of stores.
There more than a few empty buildings that these types of stores once occupied, we don’t need any more empty box stores.
If it takes changing our liquor laws to make them profitable something seems wrong with the way they do business.

Midtowner
08-21-2011, 08:56 PM
If it takes changing our liquor laws to make them profitable something seems wrong with the way they do business.

Why?

bluedogok
08-21-2011, 09:01 PM
There is only one similar store to Costco already in Oklahoma, that is Sam's Club. I am a member at both.

metro
08-21-2011, 09:23 PM
Sad it's going to be fall of NEXT year before it might get on ballot

metro
08-21-2011, 09:24 PM
The local market is saturated with similar types of stores.
There more than a few empty buildings that these types of stores once occupied, we don’t need any more empty box stores.
If it takes changing our liquor laws to make them profitable something seems wrong with the way they do business.

OK does NOT have anything similar to Costco, and don't say SAMs, not close.

metro
08-21-2011, 09:25 PM
The only two national stores we are missing here in OKC for me! Love them both a ton and hope they come here soon.

Trader Joes announced last week they are scouting OKC locations.

ou48A
08-21-2011, 09:42 PM
Why?

I may have missed it but I haven’t heard of any of the other big box stores wanting our liquor laws changed.
Evidently they do well enough to make a reasonably profit in Oklahoma.

The better question is why Costco can’t make an acceptable profit inn Oklahoma without liquor sales?

As with any business the margins of profitability have a lot to do with the way the business is operated.
If we change our liquor laws the other big stores will start selling it and probably eliminate any Costco advantage.
Besides... I can’t believe that liquor, wine and beer sales would make up a very large percentage of their total sales.

ou48A
08-21-2011, 09:45 PM
OK does NOT have anything similar to Costco, and don't say SAMs, not close.

Maybe I’m wrong? I have an open mind. What makes Costco different?
What can I buy at Costco that I can’t already buy somewhere in the OKC area?

Thanks

SoonerQueen
08-21-2011, 09:55 PM
Another law needs to be changed as well. In most all the other states if not all of them, places like Costco, Sam's Sears, etc can sell eyeglasses. Here you have to go to an optical shop or your own optician or ophthalmologist to get your glasses. I saw some beautiful frames I liked at Costco recently, and bought some previous glasses at a Sam's in Joplin. If we are going to get some of the shopping choices like we want like Costco etc, we are going to have to change the laws to be able to sell alcohol at places other than package stores and buy glasses at regular retailers.

rcjunkie
08-22-2011, 01:36 AM
Another law needs to be changed as well. In most all the other states if not all of them, places like Costco, Sam's Sears, etc can sell eyeglasses. Here you have to go to an optical shop or your own optician or ophthalmologist to get your glasses. I saw some beautiful frames I liked at Costco recently, and bought some previous glasses at a Sam's in Joplin. If we are going to get some of the shopping choices like we want like Costco etc, we are going to have to change the laws to be able to sell alcohol at places other than package stores and buy glasses at regular retailers.

Wine yes, but I'll leave my eyesight to the professionals.

ABryant
08-22-2011, 02:58 AM
Might be getting a bit off topic. I think the best reason to change our laws is perception. I've spent much time out of state, and know most places I've been have had complicated and strange liquor laws. The whole low point beer thing is really what we need to get rid of. I think if we allow grocery/convenience stores to sell normal beer/wine, and allow liquor stores to refrigerate their beer then everyone wins but the distributors. No reason to change our laws that exclude national liquor store chains. Low point beer doesn't taste good because brewing is an art, and alcohol content is a side effect. Final argument is: If i go to the liquor store and buy a six pack of beer i know how too cool it quickly (ice and salt). There's a good chance that this beer is skunky from inconsistent temperatures. I could just as easily buy a bottle of everclear and drink it on ice and get really drunk.

My real point is that 3.2 beer tastes like crap, outsiders agree, and does nothing to keep our population more ethical than the rest of the USA. We can't fall for the lies of the distributors. We will have the same problems as a community with addiction and underage drinking. Most people who buy beer/wine want a tasty drink, and is hard to find here in Oklahoma.

HewenttoJared
08-22-2011, 05:17 AM
I may have missed it but I haven’t heard of any of the other big box stores wanting our liquor laws changed.
Evidently they do well enough to make a reasonably profit in Oklahoma.

The better question is why Costco can’t make an acceptable profit inn Oklahoma without liquor sales?

As with any business the margins of profitability have a lot to do with the way the business is operated.
If we change our liquor laws the other big stores will start selling it and probably eliminate any Costco advantage.
Besides... I can’t believe that liquor, wine and beer sales would make up a very large percentage of their total sales.

Yes. You missed it.

Midtowner
08-22-2011, 07:05 AM
I may have missed it but I haven’t heard of any of the other big box stores wanting our liquor laws changed.
Evidently they do well enough to make a reasonably profit in Oklahoma.

The better question is why Costco can’t make an acceptable profit inn Oklahoma without liquor sales?

As with any business the margins of profitability have a lot to do with the way the business is operated.
If we change our liquor laws the other big stores will start selling it and probably eliminate any Costco advantage.
Besides... I can’t believe that liquor, wine and beer sales would make up a very large percentage of their total sales.

Why does that matter? Aren't you in favor of less restricted markets?

flintysooner
08-22-2011, 07:28 AM
What makes Costco different?
What can I buy at Costco that I can’t already buy somewhere in the OKC area?
COSTCO in 2010 achieved $825 per sf of sales which is pretty impressive for their 160,000 sf stores. Sam's was $616. As an aside Trader Joe's is estimated to be about $1750 per sf which is more than twice what Whole Foods achieves.

COSTCO philosophy is to buy a relatively few products at a low price, mark them up 14% or 15%, and sell a bunch of each. There is usually not a lot of variety nor is there much in the way of convenience, comfort or help to the shopper.

The small business owner is the preferred customer type. I remember one example I read that COSTCO had made a special purchase of Polo shirts that were priced about 40% less than normal but still relatively expensive for a shirt.

The house brand is Kirkland Signature.

Just the facts
08-22-2011, 07:45 AM
The 'central planners' disgusied as conservatives on here are disgusting. Selling wine and eyeglasses in Oklahoma is legal and the state just decideds who gets to sell them. The State needs to get out of the way, it isn't their job to decide that, it is the consumers job.

HewenttoJared
08-22-2011, 07:58 AM
Maybe I’m wrong? I have an open mind. What makes Costco different?
What can I buy at Costco that I can’t already buy somewhere in the OKC area?

Thanks
Non-poverty hourly employees?

Pete
08-22-2011, 08:07 AM
Yes, a huge difference between Costco and Sam's Club (we have both here in California) is that Costco is known for paying and treating it's employees very well. And it shows. They have fantastic customer service and the environment in the store is very different than a Sam's.

I normally hate shopping big box warehouse stores but I flipping love Costco. They just seem to do things the right way and in turn, they have incredible customer loyalty which seems to be missing from Sam's and Wal-Mart.

Costco is to Sam's as Target is to Wal-Mart.

flintysooner
08-22-2011, 08:49 AM
The only credit card that COSTCO takes is American Express. That kind of explains the difference I think.

Soonerman
08-22-2011, 10:22 AM
The 'central planners' disgusied as conservatives on here are disgusting. Selling wine and eyeglasses in Oklahoma is legal and the state just decideds who gets to sell them. The State needs to get out of the way, it isn't their job to decide that, it is the consumers job.

This

janejane
08-22-2011, 02:07 PM
we desperately need a costco! love love love this place!

betts
08-22-2011, 02:55 PM
The 'central planners' disgusied as conservatives on here are disgusting. Selling wine and eyeglasses in Oklahoma is legal and the state just decideds who gets to sell them. The State needs to get out of the way, it isn't their job to decide that, it is the consumers job.

Ah, but isn't that always the way it is? There are almost no "true" conservatives. Most of the people who call themselves conservatives want to meddle in people's lives just as much as the liberals. They simply have a different idea of how the meddling should be done.

ou48A
08-22-2011, 03:47 PM
Why does that matter? Aren't you in favor of less restricted markets?

Why does it matter?

I would want to know why Costco apparently says they canít make an acceptable profit in Oklahoma without liquor sales when others can before I ever bought Costco stock.

ou48A
08-22-2011, 03:48 PM
COSTCO in 2010 achieved $825 per sf of sales which is pretty impressive for their 160,000 sf stores. Sam's was $616. As an aside Trader Joe's is estimated to be about $1750 per sf which is more than twice what Whole Foods achieves.

COSTCO philosophy is to buy a relatively few products at a low price, mark them up 14% or 15%, and sell a bunch of each. There is usually not a lot of variety nor is there much in the way of convenience, comfort or help to the shopper.

The small business owner is the preferred customer type. I remember one example I read that COSTCO had made a special purchase of Polo shirts that were priced about 40% less than normal but still relatively expensive for a shirt.

The house brand is Kirkland Signature.

To grow so big Costco has obviously done something right but from your post it sounds like they might sale higher end products.
Is there enough wealth in the OKC area to support the Costco way of doing business?

flintysooner
08-22-2011, 04:44 PM
To grow so big Costco has obviously done something right but from your post it sounds like they might sale higher end products.
Is there enough wealth in the OKC area to support the Costco way of doing business?Really Oklahoma City should be a perfect market for COSTCO because there are so many small businesses here. They're known for selling higher end or maybe better described as high quality products at significant value. Still if someone wouldn't buy a high quality item even at a discounted price then he or she is in the wrong place.

COSTCO also has a smaller prototype for a business center where they concentrate on the small business customer that is buying products to be resold.

I think wherever COSTCO goes in our area the store will do very well.

SoonerQueen
08-22-2011, 06:13 PM
Wine yes, but I'll leave my eyesight to the professionals.

I think that Costco has opticians who can check your eyes if you want them to, but most people use Sam's, Costco, etc to get frames at a reduced price. It doesn't take a medical doctor to fit frames. I wouldn't ever go to an untrained person to check my eyes, but to help me pick out frames maybe. Most employees that work in the optical department at a store like that have been trained to help you pick out frames and fit them.

bluedogok
08-22-2011, 07:42 PM
Wine yes, but I'll leave my eyesight to the professionals.
They are setup just like an Eye Masters, Eyemart Express, etc. An optician/ophthalmologist leases the space adjacent to the optical section. I bought my contacts at Sam's after going to my regular optician that doesn't sell contacts.


COSTCO in 2010 achieved $825 per sf of sales which is pretty impressive for their 160,000 sf stores. Sam's was $616. As an aside Trader Joe's is estimated to be about $1750 per sf which is more than twice what Whole Foods achieves.
I think what drives that is number of locations, here in Austin area we have two Costco stores, on north and one far south. From Round Rock to San Marcos there are five Sam's club locations, so they definitely divide up the market area per store a bit more.


To grow so big Costco has obviously done something right but from your post it sounds like they might sale higher end products.
Is there enough wealth in the OKC area to support the Costco way of doing business?
There isn't as much difference between Costco and Sam's Club as some make it out to be, there is quite a bit of overlap in some products like you have with any similar type of stores. There are products available at one and not the other, that is why we are members at both and we shop at both pretty evenly. There are some nicer products available at Costco but Sam's has their share of nice stuff at times as well.

I do know that if we moved back to OKC and there wasn't one there we would head to the one in Dallas every so often....kind of like we do with Braum's now and a trip to DFW or OKC. We are moving to Denver in the near future, they have them there already so it isn't anything we have to worry about.

SoonerQueen
08-22-2011, 09:11 PM
When we visited the Costco store in Dallas recently, there were many similar items to Sam's, but many cool items that I wanted to purchase but couldn't because I wasn't a member. The store was much better stocked with a variety of things. I loved the look of the store. It was fun just to look through the store. I would become a member if they came here.

Midtowner
08-22-2011, 09:41 PM
Why does it matter?

I would want to know why Costco apparently says they can’t make an acceptable profit in Oklahoma without liquor sales when others can before I ever bought Costco stock.

Why does it matter how they make a profit? Are you saying that liquor store owners need to be protected as opposed to everyone else?

You're starting to sound like a liberal.

ou48A
08-22-2011, 10:18 PM
Why does it matter how they make a profit? Are you saying that liquor store owners need to be protected as opposed to everyone else?

You're starting to sound like a liberal.

Analyzing the Costco business model and how it delivers and captures value for the investor is part of doing due diligence. What they sale and how they sale it compared to their competitors matters a great deal. What advantage they have over their competitors matters a great deal. How long can they keep their advantage also matters.

Clearly if Costco must have liquor sales to successfully operate in Oklahoma and others don’t it matters a great deal too potential investors.

This would suggest to me that either Costco really doesn’t need liquor sales in OK or they do not operate their business as efficiently as their competitors.

I really don’t care one way or another but may be this is an issue that should be put to a state wide vote.

Larry OKC
08-22-2011, 10:23 PM
The only credit card that COSTCO takes is American Express. That kind of explains the difference I think.
Sam's used to have a similar policy (know they didn't use to take Visa/MC, not sure about AmEx)

ou48A
08-22-2011, 10:50 PM
Sam's used to have a similar policy (know they didn't use to take Visa/MC, not sure about AmEx)

For the first time in over 10 years bought something at Sam’s today. I tried to put my purchase on my Visa card and it was rejected.
But I was able to use another Visa card that I have set up as a debit card.

Thunder
08-22-2011, 11:04 PM
Costco is similar to Sam's Club, but better. That is the general belief among the population.

So, how exactly is it possible that Costco is best at small business inventory? The only thing possible at both of these places are the food, drinks, and snacks that can be bought in bulk to resell in vending machines and cafe/snack bar. Anything else...yeah right, I just don't see how its possible. Small business owners wouldn't be able to buy something there of "wholesale" value. Just not possible. If these risky owners decide to pay retail prices at Costco, then they'd have to resell at much higher prices to turn over profits, but that means higher prices at these small businesses where customers probably will not spend money since they can buy at Walmart, other places, and online for much cheaper. So...yeah...not possible to get anything wholesale (unless through inventory reduction sale) other than the munchies.

Bunty
08-23-2011, 01:31 AM
If Costco wanted to sell caskets in their stores in Oklahoma, they can't. Because Oklahoma funeral home operators believe people are in no condition to buy caskets, except from them.

Larry OKC
08-23-2011, 10:04 PM
For the first time in over 10 years bought something at Sam’s today. I tried to put my purchase on my Visa card and it was rejected.
But I was able to use another Visa card that I have set up as a debit card.
I have had similar things happen at various stores (Wal-Mart, Home Depot etc). often a glitch and may even be machine (card reader) specific. Same card can be rejected as Credit then accepted as Debit or the other way around. The first time I was declined, I immediately high-tailed it over to my bank and they assured me there was nothing wrong, plenty of money in my account etc.

Thunder
08-23-2011, 10:07 PM
I have had similar things happen at various stores (Wal-Mart, Home Depot etc). often a glitch and may even be machine (card reader) specific. Same card can be rejected as Credit then accepted as Debit or the other way around. The first time I was declined, I immediately high-tailed it over to my bank and they assured me there was nothing wrong, plenty of money in my account etc.

I will remember this. :-)

Larry OKC
08-23-2011, 10:10 PM
Had heard the eyeglass thing before too. Wal-mart has been running commercials showing the low prices and even saw it a couple of days ago on the back page of the in-store flier. Couldn't find any small print saying "Not available in Oklahoma" as there will be on some Black Friday specials (where to sell it at the advertised price, they would be breaking the decades old 6% mandatory profit law). Asked where the glasses were at, and told that their store doesn't sell them. Asked where the closest store was and they said not in this state (per law). I respectfully asked them to throw the ads away, tear off the back sheet or put up a sign stating that was the case. They laughed. I was not amused.

Larry OKC
08-23-2011, 10:12 PM
I will remember this. :-)
LOL. That was a long time ago, money long gone, and it was a relative term ("plenty" more than what I was trying to spend, in this case the total was under $10).

Thunder
08-23-2011, 11:55 PM
Larry, does the crazy mandatory profit law applies to small business?

Midtowner
08-24-2011, 05:41 AM
Analyzing the Costco business model and how it delivers and captures value for the investor is part of doing due diligence. What they sale and how they sale it compared to their competitors matters a great deal. What advantage they have over their competitors matters a great deal. How long can they keep their advantage also matters.

Clearly if Costco must have liquor sales to successfully operate in Oklahoma and others don’t it matters a great deal too potential investors.

This would suggest to me that either Costco really doesn’t need liquor sales in OK or they do not operate their business as efficiently as their competitors.

I really don’t care one way or another but may be this is an issue that should be put to a state wide vote.

Speculating, I would say that the high margin of liquor sales means that it's more profitable to channel limited resources to open stores outside Oklahoma than it would be to target a limited market, where a major remodel would have to take place once the laws changed.

That said, it really doesn't matter. You don't appear to be in favor of free markets at all. You'd rather have the government deciding who can sell what. Oklahoma's alcohol rules are job killing in many respects. They've kept out several grocery stores, COSTCO, and now are killing jobs in Bricktown.

Larry OKC
08-24-2011, 12:43 PM
Larry, does the crazy mandatory profit law applies to small business?
It was my understanding that it applied to ALL retail and wholesale entities. The intent was to protect the small business owner from the larger dept stores (law pre-dates Wal-Mart and other "Big Box") from offering "loss leader" (items sold below cost) just to get folks in the door. Their are exceptions (such as clearance sales, damaged goods etc). There are some ways around it though. The profit doesn't have to reflect the price you actually paid for that particular item but you can use the lowest invoice you have as the basis (within a certain time period). In other words you can use an invoice showing it cost you $1 at the first of the month and even though the price doubled to $2 on your next delivery 2 weeks later, you can still legally sell the item for $1.06 rather than being forced to sell it for $2.12.

It can and still happens of course, but enforcement seems to be based on a complaint being logged against a business (usually by a competitor, citing unfair competition). If there is another vendor notices you are selling your lucky bamboo for cheaper than what he paid, you may have an issue (just be able to document everything).

HewenttoJared
08-24-2011, 02:27 PM
I can promise you enforcement does happen. I've seen it. And Thunder I wouldn't call it crazy. Without it smaller businesses would be even less likely to survive.

bluedogok
08-24-2011, 07:27 PM
In Texas the Costco liquor stores are privately owned leasing space from Costco much like the cell phone kiosks. There is no passage into the store from the liquor store and you do not need a Costco card to buy in the liquor store. That is because of Texas law requires "private ownership", now Texas law is different in that one person can have up to five licenses/stores. There is also another provision that allows family members to pool licenses together under one DBA name like we have with Spec's and Twin Liquors but there is still a family member name attached to each store, I think the Spec's in the Austin area are all licensed to a husband and wife which would allow them to have up to 10 stores.

The difference is the beer/wine department is part of Costco and that is what needs to be changed at a minimum in Oklahoma, I don't recall seeing either in the liquor store portion but I wasn't looking for that at the one time that I have been in there. Get rid of the 3.2 and allow (refrigerated) beer/wine to be sold in grocery stores.

Dustin
08-30-2011, 03:17 PM
Welp... so much for that.

http://soonerpoll.com/poll-finds-voters-overwhelmingly-oppose-liquor-law-changes/

Midtowner
08-30-2011, 07:35 PM
Welp... so much for that.

http://soonerpoll.com/poll-finds-voters-overwhelmingly-oppose-liquor-law-changes/

Wow.

Just remember that the average IQ is 100.

foodiefan
08-30-2011, 08:06 PM
Welp... so much for that.

http://soonerpoll.com/poll-finds-voters-overwhelmingly-oppose-liquor-law-changes/
. . . they didn't ask me !!

bluedogok
08-30-2011, 08:07 PM
Online polls are about as worthless as online petitions and newspaper comment sections.

Dustin
08-30-2011, 08:17 PM
Ya, I heard they only polled about 500 people.

This is one of the biased and ridiculous questions they asked:


Oklahoma’s current laws restrict the sale of wine, beer of 3.3% alcohol content or higher, and malt liquors of up to 12 percent be sold in liquor stores where someone must be 21 years or older to enter. Would you support changing the law so that wine, strong beer, and malt liquor can be sold in grocery stores, knowing it would include products like Mad Dog 20- 20, Snoop Dog’s Colt 45 Blast, and 4 locos.

...Are you kidding me? Of course people are going to say no to that.

MustangGT
08-30-2011, 08:21 PM
Poolsters are the biggest LIARS only behind politicians. By carefully crafting the questions and the order in which they are asked the pollster can get the person answering to say exactly what the pollster wants them to say. Companies that do this are paid a LOT of many and are very good at hoodwinking the public.

Bunty
08-30-2011, 10:42 PM
Online polls are about as worthless as online petitions and newspaper comment sections.

I thought it was an off line poll. If Soonerpoll is serious, I doubt they would want to be associated with polls conducted online.

Chautauqua
08-31-2011, 05:40 PM
Trader Joes announced last week they are scouting OKC locations.

I don't mean to dissect your words, but when you say "Trader Joe's" announced last week that they are scouting OKC locations, I don't think that sounds accurate. There is a huge difference with a developer or a broker exploring the possibility of landing a TJ and them "announcing" they are scouting "locations". They generally don't use local brokers, for one. They use a third party real estate development consultant to do their placements. That third party may be looking broadly at OKC, and Tulsa for that matter, but that is much different than "scouting locations". Most importantly, Trader Joe's, nor their trusted representatives, NEVER announces anything speculative. They are notoriously secretive. They only way this gets out is if they are meeting with a developer, and he/she yaps about it... at that point the deal is usually done. Anyway, I hope it is true that they are looking at Oklahoma.

The only hurdle I see is distribution. Not food, but liquor. Even if they can circumvent the liquor laws somehow here, or even if the law changes to allow grocery stores to carry wine, Oklahoma will still be a 4 tier (liquor) distribution system. Trader Joe's will have to use one of the established wine distributors here, (because the law states you cannot be a distributor AND a retailer) and that is not their preferred model. Whole Foods doesn't care as much because they always use an outside distributor.

Larry OKC
09-02-2011, 04:50 AM
Not surprised by the religious and conservative/republican results but was about this:

A similar correlation exists when results are broken down by political label. Results reveal that on the most basic question on the subject, liberals remain evenly divided with 50 percent that oppose changing the law while a full 61 percent of conservatives oppose. Similarly, when respondents are offered more information about the changes, 56.8 percent of liberals and 71.5 percent of conservatives oppose them.

kevinpate
09-02-2011, 05:26 AM
Larry, that shouldn't be a surprise. A huge chunk of the lib population in Oklahoma would be viewed as mildly moderate republicans by their new neighbors if someone scooped them up and plopped them into the general population of any traditionally blue state.

flintysooner
09-02-2011, 06:14 AM
Costco CEO to Step Down (http://online.wsj.com/article/SB10001424053111903895904576544883964721042.html?r u=yahoo&mod=yahoo_hs) (article requires subscription to WSJ)

James Sinegal, chief executive of Costco Wholesale Corp., is stepping down at the end of the year from the company he co-founded in 1983 and helped build into the country's biggest member warehouse chain.

Mr. Sinegal, 75 years old, will be succeeded by Costco veteran Craig Jelinek, 59, who was widely expected to assume the top spot after the board promoted him to president and chief operating officer 18 months ago.