🏀No Kidding... Mavs, Jason part ways; Kimbell Royalty buys $147M gusher; Trump endorses Paxton for Senate.

The Dallas Mavericks and head coach Jason Kidd "mutually agreed" to part ways. Kidd finished with a 205-205 record and went to one NBA Final and two conference finals. He had four years and $40 million remaining on his contract. (Image: Meta/Dallas Mavericks)

🎖️Scheduling note: 817 Biz will be off Monday, May 25 for Memorial Day and will resume publishing March 27.

Fort Worth-based Kimbell Royalty Partners agreed to acquire mineral and royalty interests in the Permian Basin from Mesa Royalties for approximately $147M, comprised of $44M in cash and 6.9 million in newly issued common units valued at $103M. Kimbell described the assets as "high-quality rock across stacked pay zones in de-risked areas of both the Delaware and Midland basins".

Higginbotham, an independent insurance, financial and human resources company, is moving from downtown Fort Worth, but is not ready to divulge plans, according to the Dallas Business Journal. The company is located at 500 W. 13th Street and has its 500-plus employees in at least three sites. Getting them under one roof is the goal.

John Louis Marion, former President and Chairman of Sotheby’s, renowned auctioneer and philanthropist, passed away at 92. John married his soulmate, Anne Windfohr Marion, in 1988 and their names long will be associated with the Modern Art Museum of Fort Worth, Kimbell Art Museum and the 6666 Ranch.

President Donald Trump endorsed Attorney General Ken Paxton in the Texas Republican Senate race against incumbent John Cornyn. Why does that matter and how valuable are the President's endorsements?

The Trump administration announced a $1.776-billion Anti-Weaponization Fund to compensate allies of the President who believe they were mistreated by the President Joe Biden-era Justice Department. 

Transwestern Principal Whit Kelly posted that the former Heim BBQ property located at 1109–1121 West Magnolia in the Near Southside has been sold. Kelly said he, Trevor Brown and Gibson Duwe represented the buyer.

The office of Attorney General Ken Paxton secured a settlement with Albertsons Safeway LLC, the parent company of more than 10 different grocery stores chains, that stops the company’s practice of misting organic produce with synthetic pesticides. The pesticide at issue is ProduceMaxx, an EPA-registered anti-microbial containing hypochlorous acid, a chlorine-based compound. Many consumers were unaware that, despite the certified organic label, pesticides had been used. 

Investcorp Capital, an Abu Dhabi Securities Exchange alternative investment company, announced the acquisition of a diversified U.S. industrial real estate portfolio of 19 properties totaling 1.4-million square feet and valued at more than $200 million. Thirteen buildings spanning approximately 1-million square feet are in Fort Worth-Dallas, but were not identified. The portfolio is approximately 97% occupied and leased. 

Arlington-based Graham Associates is joining Lubbock-based Parkhill, bringing together two proven leaders in civil engineering and surveying. The merger allows Graham to expand its resources, capabilities, capacity and innovation to north Texas clients. 

The U.S. Senate confirmed former Texas Sen. Brian Birdwell to serve as an assistant secretary of defense. The five-term Granbury Republican previously worked for the Department of the Army at the Pentagon, where he suffered severe burns during the Sept. 11, 2001 terrorist attacks when a plane crashed yards away from his office.

Fort Worth-based Radiology Associates of North Texas says it analysis projects more than $51 million in avoidable No Surprises Act administrative costs. Passed in 2019, the No Surprises Act was designed to protect patients from unexpected out-of-network medical bills.

Grapevine is to vote on a re-zoning application for a mixed-use development by Dallas-based Trammell Crow that includes apartments and a hotel on 28.7 acres near Grapevine Mills. The hotel is Sandman Signature with 221 to 249 rooms, a steakhouse, meeting spaces and an outdoor pool.

A jury in Oakland needed less than two hours to reject Elon Musk’s $150-billion lawsuit against OpenAI and its chief executive, Sam Altman. Musk and Altman co-founded the company as a non-profit in 2015. Musk sued in 2024 and accused Altman of “stealing a charity” by putting commercial gain over the public good. A nine-member jury found that Musk had failed to file the suit within the legal time frame (2-to-3 years), and the judge accepted the decision. Musk’s lawyer said he would appeal.

D-FW International Airport will hold a Concessions Outreach Event June 3 at the Omni Hotel in downtown Fort Worth. This event is for businesses to hear directly from airport leaders about opportunities.

PeopleFund’s third quarter Military Connected Small Business Accelerator is June 3-August 14. The free program offers Veterans and military spouses training, mentorship, business tools, networking, access to capital, and eligibility for a $3,000–$5,000 grant to help grow their business.

Texas Scorecard reports Texas Sands PAC contributed $500,000 to Railroad Commission incumbent Jim Wright’s runoff campaign, the largest contribution he received. The Railroad Commission oversees Texas oil and gas regulation, but has no direct role in gambling policy. The PAC is affiliated with Las Vegas Sands, which operates casinos, and its owners also are majority owners of the Dallas Mavericks. 

The highest-ranked Fort Worth company on Forbes’ inaugural list of America’s 100 largest family businesses is Ben E. Keith at No. 69 with annual revenue of $8 billion. Ben E. Keith, connected to the Keith and Hallam families, is a wholesale distributor of food and alcohol. At No. 11 is the San Antonio Butt family's H-E-B grocery store empire with $49.6 billion in annual revenue. No. 1? No surprise - the Walton family and Walmart with annual revenue of $713 billion.

Bedford-based Skywalker Property Partners acquired the 73,747-square-foot Eagle Parkway One in AllianceTexas from Group O. The building was purchased using Skywalker’s $200-million fund.

Taylor Sheridan and Dallas Cowboys’ Charlotte Jones are among the first of Gov. Greg Abbott's selections to the Texas' Bicentennial Commission, which will focus on preparations for the 200th anniversary of Texas' independence in 2036.

Tarrant County commissioners ended a two-year contract about 17 months early with a private jail staffing company that was meant to help with under-staffed issues. The estimated loss is about $1 million, according to KERA.

United Way of Tarrant County is launching Local Lift, a social innovation program and pitch competition designed to help non-profits, entrepreneurs and small businesses turn ideas into solutions. The cohort-based experience will provide participants with coaching, mentorship opportunities, collaborative learning and seed funding support through an eight-week experience ending in a live pitch competition. See details here.

Snippets:

• Stretches of 4th and Main streets in downtown Fort Worth will be closed Thursday, Friday and early Saturday so crews can film Taylor Sheridan's Frisco King.

• University of Texas-Arlington athletics department sets a MavsDay record with $342,429 raised for student-athletes. 

• Built for developers, creaters and power users, Google introduced a $100 AI Ultra plan, plus new features and benefits for AI Plus, Pro and Ultra subscribers.

• Dr. Adam Raben's study shows meeting an AI doctor before a real-life consultation improves cancer patients’ understanding and reduces stress.

Eggcellent news: A 15-year study of about 40,000 participants 65-and-older found a decrease in the chances of patients developing Alzheimer's disease based on the number of eggs they ate.

Lunch money: An anonymous bidder paid $9M for a private lunch with Warren Buffett and Stephen Curry, with Buffett pledging to match the winning amount so both of their charitable foundations benefit.

Shaken, not stirred: The casting process for the next James Bond has begun. The franchise has a new handler, Amazon MGM Studios, which purchased it last year for an estimated $20 million. During the last six decades, Bond films have raked in about $6 billion at the domestic box office. Here are some rumored potential candidates.

Announcements:

• BNSF Railway: Names Craig Morehouse Executive Vice President & Chief Operations Officer. He had been EVP & Chief Transportation Officer.

• American Paint Horse Association: The world’s second-largest equine breed association names Kurt Crawford Chief Executive Officer. He will lead the non-profit American Paint Horse Association, its wholly owned for-profit subsidiary Marked For Greatness Properties, and the American Paint Horse Foundation.

• Texas Health Resources: Selects Tracy Payne Martinez as President of Texas Health Harris Methodist Hospital Alliance. She had been Vice President of Professional and Support Services at Texas Health Alliance. 

• Trinity Metro: Board votes unanimously to approve a seven-year contract renewal for President & CEO Richard Andreski.

• TXSE Group: Selects Board of Directors and names Jaime Gow as Chief Financial Officer. TXSE Group is the parent company of the Texas Stock Exchange.

• Valor: Hires Ryan Duwe as senior sales representative.

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