E1 Thursday | October 22, 2015 | tulsaworld.

com

Business

youTube to launch Red,

$10-a-month ad-free video,
music plan. E4

Dow 30 17,168.61 48.50 | S&P 500 2,018.94 11.83 | Okla. Sweet 41.75 0.25 | Natural gas futures 2.404 0.072 | Yen per dollar 119.94 0.04 | Gold 1,167.10 10.40

Home sales down from 2014

September numbers
fall 5.5 percent from
year-ago period.
BY ROBERT EVATT
World Business Writer

Although most of this years

home sales have been in positive
territory, September reversed the
trend in a big way.
Approximately 1,162 homes
changed hands last month, according to data from the Greater Tulsa
Association of Realtors.

That igure represents a 1.5 percent increase from August, but its
down 5.5 percent from the previous September.
Pete Galbraith, president of
Coldwell Banker Select in Tulsa,
said its not entirely clear what
caused sales for this month to fall
well short of last year.
It could be as simple as the
last day of the month ending on a
Wednesday, he said.
However, Galbraith is concerned
that buyer conidence is starting to
erode as local energy companies
see HOMES e4

The QuikTrip application locates

the nearest gas stations to the user.

QuikTrips
new app
even ofers
coupons

MATTSCO SUPPLY: 40 yeARs iN The MAkiNg

Want to know where

the nearest location is?
Its just a click away.
BY SAMUEL HARDIMAN
World Business Writer

Download the new QuikTrip

app, and you get a free Big Q soda.
The Tulsa-based convenience
store chain quietly rolled out its
mobile phone app two weeks ago.
Its free and compatible with iOS
and Android.
The app serves three functions
to show you the closest stores
along with gas prices, to promote
products with coupons that can be
scanned on your phone and to show
you its menu of food and drinks.
Why does a convenience store
need an app? To satisfy the millennial consumer, of course.
QuikTrip
spokesman
Mike
Thornbrugh said: Were smart
enough to know that is the wave of
the future for the consumer. Its really another tool.
Thornbrugh said the goal of the
app is to give the consumer just
about everything the gas station
chain ofers, except for the gas and
the people behind the counters.
He said the company has factored a mobile application into its
long-term plans for the past three
to four years but has been methodical as is the QuikTrip way in
rolling it out.
We took a long time, Thornbrugh said. The company took
baby steps and probably took
longer than others would.
He added that the company sees
the app as more than just a marketing tool and doesnt want it
to become one, noting that when
companies lood their apps with
advertisements, they are promptly
deleted.
The goal is to learn about consumers and their habits, such as
what they like to buy and which gas

Josh Ingram collects parts at the Mattsco Supply Co. warehouse Wednesday. The company is celebrating its 40th anniversary this week.
MATT BARNARD/Tulsa World

Fitting tribute
Family business celebrates
BY CASEY SMITH
World Business Writer

Mattsco Supply Co. President Carlyn Mattox said his father, John, had always dreamed
of owning his own business. In
1975, not long after John Mattox
turned 50 years old, he decided it
was time to get started.
At 17 years old, Carlyn Mattox was right by his fathers side
when Mattsco Supply Co. began.
Now, at 57, Carlyn is at the helm
of the industrial and oil ield pipe,
valve and itting distributor that
he helped grow.
Mattsco Supply Co. will cel-

ebrate its 40th anniversary on

Thursday evening. During the
past four decades Mattsco has
gone from a team of ive working
from a 25,000-square-foot building in west Tulsa to approximately 40 employees operating out of a
100,000-square-foot facility near
Catoosa.
Mattsco distributes products
that range anywhere from -inch
to 48 inches in width. The company, which is certiied minorityowned and associated with the
Cherokee Nation, also has the
ability to provide customers with
see MaTTSCO e4

Carlyn Mattox (left), Bob Mattox and Kyle Mattox gather at the
Mattsco facility Wednesday. The brothers say working together at
the company founded by their father has brought them closer.

Oil pulls down area stocks

Wild ride in Q3 brings Tulsa
index down 14.6 percent.
BY SAMUEL HARDIMAN
World Business Writer

The Tulsa-area index of stocks is having

a worse year than the two major stock indices that most of its members belong to the
Russell 2000 and the S&P 500. Its down 16.4
percent on the year.
The third quarter wasnt much better. The
index lost 14.6 percent of its value. By comparison, the S&P 500 was down 6.4 percent
in the third quarter, while
the Russell 2000 was down
11.9 percent.
Jake Dollarhide, whose
company Longbow Asset
Management manages
the index said the third
quarter was one of the
wildest he can remember,
with 21 triple-digit swings
over 26 days.
Dollarhide
He added the indexs fall
shouldnt come as a surprise to anyone who follows the oil and gas
industry, which almost mirrors the Tulsa Index. Of the 73 companies on the index, 34 are
directly tied to the oil and gas industry.
Dollarhide said the worst performance on
the index is from the smaller, less-diversiied
oil and gas companies who rushed to oil a few
years ago when the bear market for natural
gas began in earnest.
Now, those companies are highly leveraged

see aPP e4

MATT BARNARD/Tulsa World

Tulsa-area stocks
Worst performers in the Tulsa-area index
Unit Corporation ......................................... -58.5
Mid-Con energy.......................................... -55.1
halcon Resources ....................................... -54.3
Rose Rock Midstream ............................... -47.1
WPX energy ................................................. -46.1

Best performers in the Tulsa-area index

educational Development ........................ 54.4
Matrix service Company .......................... 22.9
holly Corporation ....................................... 15.2
Orchids Paper Products Co. ..................... 9.8
American electric Power Co., inc. .......... 8.4

and losing money fast, Dollarhide said.

Dollarhide said the light to oil was a selffulilling prophecy and that supply would
eventually outstrip demand. He added that
he wouldnt be surprised if some of the worst
performers on the index, such as Halcon Resources and Mid-Con Energy, might become
subsidiaries of larger irms.
Oil had been the saving grace in the Oklahoma economy, Dollarhide said. The Great
Recession didnt damage it as much as the
rest of the country.
Were having our bad time right now. It
was probably due time to have a major pullback like this, Dollarhide said.
Samuel Hardiman 918-581-8466
sam.hardiman@tulsaworld.com

BIZ QUICKS
AT&T to fill almost 200 positions
at Tulsa job fair on Saturday
AT&T plans to hire workers for 190 jobs in
Oklahoma, and the positions will be illed during
a hiring event this saturday.
The positions, mostly technicians and retail
support jobs, will be ofered at the event to
be held from 9 a.m. to 2 p.m. saturday at the
DoubleTree by hilton Downtown at 616 W.
seventh st.
steve hahn, president of AT&T Oklahoma,
said in a press release the jobs are the result of
its continued expansion and network investment
in Oklahoma.
As part of our commitment to this level of
customer service and to support our growth in
Oklahoma we are pleased to welcome some new
Oklahoma faces to the AT&T family, he said.
For more information, visit connect.att.jobs.
The company noted it has spent more than
$1 billion in its Oklahoma wireless and wireline
networks from 2011 through 2014.

MIT to fight climate change, but wont

divest endowment from fossil fuels
BOsTON The Massachusetts institute
of Technology is launching a ive-year plan to
combat climate change but says it wont divest
its $12.4 billion endowment from fossil fuels.
A world leader in science and engineering
research, MiT says, instead it wants to work with
fossil fuel companies to develop the technology
to combat climate change. The university plans
to create eight new centers to focus on solar
energy, nuclear fusion and other technologies.
MiT also plans to reduce campus emissions
and eliminate its use of fuel oil.

students at campuses across the country have

pushed for divestment. The student group Fossil
Free MiT called for divestment last year, and expressed surprise and disappointment Wednesday with MiTs decision. A group spokesman
says MiT is putting money before morals.

a federal judge in Milwaukee issued a ruling

in a lawsuit involving a 12-inch Subway sandwich that came up short. Associated Press ile

Foot-long? Judge OKs settlement over

length of Subway sandwiches
MiLWAUkee if youre one of the tens of
millions of people who has purchased a 6- or
12-inch subway sandwich in the U.s. since 2003,
youre entitled to a cut of a class action settlement involving the franchise.
But the long and short of it is, only the nine
named plaintifs in the preliminary resolution
approved by a federal judge in Milwaukee this
month will see any money up to $1,000 each.
however, the rest of us do win subways assurance that it will pay more attention to size,
the Milwaukee Journal sentinel reports. The
legal action grew from a 2012 social media post
about a foot-long sub that came up short.
subway notes none of its marketing was found
improper and says it just wants its customers
happy.
FROM STAFF, WIRE REPORTS