OG&E Energy Center

[Plutonic Panda]

Well, we may not have gotten those beautiful high rises, but we did get a functional outdoor basketball court.

The only sad thing is that people who play on it may never fully know who Rainy Williams is.

[gopokes88]

Wrong. Go check the P/E multiples of its peers (ADP and Paychex).

I don’t think you understand what paycom does.

This is like arguing Folgers and Starbucks should have similar multiples.

They do the same basic thing. They are not the same thing though.

[Canoe]

The only sad thing is that people who play on it may never fully know who Rainy Williams is.

Literally who?

[BoulderSooner]

I don’t think you understand what paycom does.

This is like arguing Folgers and Starbucks should have similar multiples.

They do the same basic thing. They are not the same thing though.

this is absolutly correct

[chuck5815]

I don’t think you understand what paycom does.

This is like arguing Folgers and Starbucks should have similar multiples.

They do the same basic thing. They are not the same thing though.

Literally the exact same thing:

https://www.paychex.com/
https://www.adp.com/
https://www.paycom.com/

From Morningstar's bull case: ADP and Paychex serve over 1 million businesses, providing Paycom with ample opportunity to gain share by displacing incumbants.

[Edmond Hausfrau]

Literally who?

G. Rainey Williams was a prominent physician in Oklahoma and has a building named after him in OUHSC, plus an endowed chair, and possibly a hospital wing.

His son went into finance instead of medicine, but still managed to do okay.

[Plutonic Panda]

If you think these buildings won’t be built then you must not know Rainy Williams.

[hoya]

I'd love for the tower that's second from the far right to be built - the one on the site of the BOK Park Plaza.

I agree. This whole proposal is gorgeous, but I especially like the one on the right.

Obviously it looks like we're overbuilt as far as office towers go right now. We've also got a lot of vacant land downtown, and with the new park and then the Co-op site, and then the innovation district, there's a metric butt-load of downtown-adjacent land available too. It seems to me that we need an enormous amount of infill before more high rises make economic sense. We could have 20 years of building 3-4 story buildings at our current rate before that changes. Right now, skyscrapers are a vanity project in OKC.

[David]

Mixed-use mid-rise infill projects are more important anyway to continue activating downtown, and I think they are much more likely to happen than any given speculated tower.

[Pete]

I believe we'll see some mid-rise development on the west side of Scissortail Park in the next 5 years.

[Rover]

Yea, the $17B valuation is a shocker. Not sure why the market is giving PAYC a tech company valuation. Sure, they are growing but the equity trading at 100x earnings makes little sense.

On quickly growing companies with huge upsides you don't value based on current earnings, but rather on what you expect future earnings to be. You can't look at it the same way you would value traditional NYSE companies that are older and more developed.

[hoya]

Personally, I would love to see a modified version of this as the future replacement of the Cox Center. But I think it would require a fairly hefty government subsidy and a visionary developer to pull it off. But we just keep opening up more and more empty land, and that prevents us from getting a critical mass of development necessary for stuff like this.

[stlokc]

Personally, I would love to see a modified version of this as the future replacement of the Cox Center. But I think it would require a fairly hefty government subsidy and a visionary developer to pull it off. But we just keep opening up more and more empty land, and that prevents us from getting a critical mass of development necessary for stuff like this.

Very much this.

The Cox Center site should absolutely be dense, high-rise construction built to the street as an extension of the Business District density to be found along Main/Park/Robert S Kerr. As much as possible, the OG&E land west of the Gardens should be the same.

Apart from that, further infill of 5-ish-story buildings throughout Midtown is preferable to doing anything along the west side of Scissortail Park for the foreseeable future.

We have too much open land. I guess there are worse problems a city could have, but it does prevent density and vitality.

[PhiAlpha]

Literally who?

You don't know Rainey Williams???

[Teo9969]

Literally the exact same thing:

https://www.paychex.com/
https://www.adp.com/
https://www.paycom.com/

From Morningstar's bull case: ADP and Paychex serve over 1 million businesses, providing Paycom with ample opportunity to gain share by displacing incumbants.

The Folgers to Starbucks comparison is apt. Both are coffee companies just as those 3 are all payroll processing companies. But their take on how to deliver coffee to their customer base is wildly different, as is the quality of the service/product.

I'd struggle to call Folgers and Starbucks the same thing, but if you insist on calling all coffee companies a coffee company, then it's not worth a debate.

As to the stock...the P/E is obviously eye-popping. As an employee of Paycom I think most of us are surprised to see the valuation where it is today based on current output, but institutional investors don't just look at today. If you are running hedge funds and retirement funds, then getting in on a company that you believe is going to capture a substantial market share over the next 5 to 10 years and doing so at tech company profit margins, then you're going to be eager to build your position so that when the company changes over from growth mode to sustain and build mode, the dividends look nice or a sizable gain can be taken.

Certainly it's not going to increase by 2000% over the next 5 years the way it did in the previous 5, but the company is in a great position in a market that is poised for growth across the board. And hey, the stock just became part of the S&P 500, so that's something.

Definitely a massive win for OKC...just a shame that the growth is all in NW OKC

[Laramie]

OG&E Should concentrate on building one plaza...









Should our city buy back the Stage Center site...

Clayco & OG&E Development: https://www.oklahoman.com/article/51...er-development

[AnguisHerba]

^OGE Energy is never going to build a tower because they are becoming a pure play electric utility again, and any investment like that could not be justified for inclusion in customer rates. I doubt OGE shareholders want to shell out a few hundred million for a vanity project, and the C-suite knows this.

[mugofbeer]

If they wanted new digs, they could deal with a developer to build space then lease it back. Right now, it would make more financial sense for them to do something like lease space somewhere like the Chesapeake HQ.

[Pete]

They could just buy the BOK Park Plaza from Devon.

It is still empty but the 5 floors occupied by BOK.

[theanvil]

Attachment 14948

Still one of the best posts in OKCTalk history.

[PhiAlpha]

They could just buy the BOK Park Plaza from Devon.

It is still empty but the 5 floors occupied by BOK.

Could probably even get Rainey Williams involved!

[G.Walker]

They could just buy the BOK Park Plaza from Devon.

It is still empty but the 5 floors occupied by BOK.

I thought Enable Midstream moved in as well? This didn't happen?

https://www.oklahoman.com/article/56...completes-move

[HangryHippo]

Could probably even get Rainey Williams involved!

You don’t know Rainey Williams!

[Anonymous.]

I thought Enable Midstream moved in as well? This didn't happen?

https://www.oklahoman.com/article/56...completes-move

It did. Enable is definitely in the BOKP. But point still stands, not many occupants.

[jccouger]

Most Enable employees have been working from home for the last year.

Also most of those employees will either be laid off or moved to Dallas in the near future.