Sonic

[blangtang]

Any one heard anything about Sonic lately? Something might be brewing.

[MikeOKC]

Any one heard anything about Sonic lately? Something might be brewing.

As in a new concept being rolled out? Or, are you speculating those might be the rumored jobs leaving for Ft. Worth?

[Pete]

Cliff Hudson (Chairman & CEO) is a native Okie that went to OU and is very active in the OKC community.

They also just moved into their new HQ building in 2003.

Doesn't make sense that they would re-locate; apart from all this, what could they possibly gain by such a move?

[MikeOKC]

Let me toss out a bone... are they unhappy about their location in Bricktown? I could see reasons why they could be.

Good point, Sid. Also, you have to take into consideration the incentives being offered by cities for X number of jobs with promises of X more = a nice new space, deferred taxes, on and on that show goes. No telling. Though, I would be surprised if Sonic were to leave (basically for all the reasons Pete gave).

[Skyline]

Maybe they need more parking?

[swilki]

Maybe they need more parking?

are you implying that there is a parking problem in Bricktown?

On a serious note, I seriously doubt Sonic leaves OKC.

[metro]

Surely Sonic has more than 178 corporate employees.....

[Skyline]

are you implying that there is a parking problem in Bricktown?

Of course, haven't you heard?

But don't worry, more parking is on the way!

[Pete]

Wikipedia says about 350 corporate employees.

[Pete]

I don't think they have regional offices as they are heavily franchised.

They have about 100,000 square feet in Bricktown.

[Pete]

100,000 square feet is about right for 300 employees.

They may have some field people but their two regional heads live in OKC.

[blangtang]

No ideas on my part. I was thinking maybe they are a takeover target? Who would buy them out? Only reason it even came up was there was some real funny action going on with their stock, mainly in the options market.

When I first posted, looking back now around 2pm they'd had about 6400 call options contracts trade in the March 7.5 strike. their stock was trading around 7 bucks at the time. so if you wanted to bet the price was going up soon you'd buy those 7.5 calls. And they were buying big chunks at a time.

In the next hour I checked and it went up to a total of 9400 contracts. this is really bizarre b/c its like 100x the normal optins volume which is usually next to nothing. To me it means the big hedge funds or big bank funds were gobbing them up which means something is possibly brewing...Or maybe they are selling billions of cherry limeades!

I was watching Oklahoma energy companies and SONC (sonic) popped up, but the other thing was Sandridge is buying out some Houston based oil co.

[Skyline]

Do they occupy the entire Sonic building in bricktown?

[Pete]

Do they occupy the entire Sonic building in bricktown?

I believe so with the exception of a small amount of space on the ground floor, although they may have taken that over too.

[metro]

Do they occupy the entire Sonic building in bricktown?

No,the ground floor is leased to a call center, I forget the name.

[Skyline]

I would like to know how many employees work out of the Sonic bricktown office. I would be surprised if it is over 100 employees, I rarely see people around this building coming or going like other office buildings.

[blangtang]

Sonic is doing well. Whoever bought all those calls a couple months ago made out real well. and it was in the early and middle part of May that they returned, bought a bunch more upside calls and nailed it again. Either there is a preferred leak or someone is just really good at picking up on the Sonic business.

[Snowman]

Hopefully someone who is expecting a lot of upside to the stock and just buying when they perceive opportunities