🍎Day 1 for interim UTA President; Schwab-DEC to partner in FW; The Empire Strikes Back Again... as Arete.

Archie Holmes, University of Texas System Executive Vice Chancellor for Academic Affairs, began serving as acting President of UT-Arlington yesterday. Jennifer Cowley, who has served as President since February 2022, will serve as a special advisor to Holmes.

Texas Capital Bancshares, parent company of Texas Capital Bank, said it will move its common and preferred stock listings from the Nasdaq composite to the Texas Stock Exchange Oct. 8. The estimate is a $4-billion gain for the TXSE.

Fort Worth-based Arete Construction has launched as a commercial general contractor and construction management company serving north Texas. The company is supported by Empire Holdings and its founder and CEO, Sandra McGlothlin, whose entrepreneurial experience includes founding Empire Holdings, Empire Disposal and Empire Roofing. 

Charles Schwab Bank and The DEC Network will partner to help entrepreneurs launch and grow businesses, create jobs and strengthen communities in Fort Worth. Create Fort Worth will expand to provide business and financial education, mentorship and networking opportunities for local entrepreneurs. Robyne Ciza will be the Business Development Coordinator. 

According to Financial Advisor IQ, Charles Schwab was ordered by the Financial Industry Regulatory Authority (FINRA) arbitration panel to pay more than $1.3 million to clients after an 82-year-old customer's money was wired to a cryptocurrency scam. The client claimed negligence, breach of contract, rule violations, and breach of fiduciary duty because of the scam related to the Okcoin cryptocurrency platform.

An Arizona Chevrolet-GMC dealership and its principals are accusing General Motors and GM Financial of fraud, racial discrimination and retaliation in a $20-million lawsuit that alleges it was induced to buy a troubled dealership under false relocation promises. Now the dealership is facing termination.

Among his many local donations, NBA center Myles Turner, a Bedford native, has signed an agreement for a $2 million donation to the Hurst-Euless-Bedford ISD Education Foundation and will be the new namesake of the district’s Myles Turner Fieldhouse — formerly Trinity Arena. He also gave $15,000 to the visual and performing arts department of Trinity High School, his alma mater.

The Fritz G. Lanham Federal Building at 819 Taylor Street in downtown Fort Worth and the nearby parking garage are on the market, with the dispositions expected to save more than $348 million, according to the General Services Administration. The nearly 700,000-square-foot building houses the Internal Revenue Service, the Social Security Administration and the National Labor Relations Board. The $348M savings is the assumed investment the federal government would otherwise need to commit to the long-term use and continued operation of the buildings.

A 52-suite Sola Salon Studios is planned for Fort Worth's Westcliff Shopping Center in spring 2027. Pre-leasing is available to independent hairstylists, estheticians, nail technicians and barbers. The location is less than half a mile from TCU. WhatNow confirmed the Westcliff studio will mark franchisee Shay Stevenson's ninth Sola Salon Studios location. He is a Denton native who became a Sola franchisee in 2015.

Sid Bass, a member of the Fort Worth Bass family, but now living in New York, is facing a federal lawsuit for $400 million. Oona Sperr, a New York interior designer, claims he abruptly dumped her after 10 years for another woman after allegedly promising to provide for her for life. 

Marcus & Millichap closed the sale of The Reserve Mansfield – Lot 2, a 7,009-square-foot retail center at 2411 E. Broad St. in Mansfield. Philip Levy, an investment specialist, exclusively marketed the property on behalf of Clay Pickering with The Retail Connection, and Sergio Santiago with P5 CRE Group procured the buyer. The center is fully leased to Beans & Brews, Grain & Berry and Rotolo’s Pizzeria, each on 10-year, triple-net leases. 

Fort Worth and Tarrant County approved fiscal year 2027 budgets. Fort Worth's $3.33 billion operating budget, with a growing population, is a 10.81% increase. Tarrant County approved an $834 million operating budget. It includes a 3% pay increase for most county employees and a 4% increase for law enforcement. The property tax rate of 18.6 cents per $100 valuation is down from last year’s 18.62 cents. The county's hospital, JPS Health Network, received a separate $1.8 billion budget.  

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American Fusion, based in Southlake but operating in Fort Worth, says its tests bring it a step closer to making fusion power work. The company's approach, called Texatron™, uses powerful magnetic pulses to squeeze a ring-shaped cloud of superheated gas (plasma), like crushing a smoke ring from the outside. In its latest round of tests, the squeezing made the plasma hotter and denser, and — importantly — the ring held its shape. 

LanCarte Commercial facilitated the sale of a 1.42-acre commercial site at the intersection of FM 157 and Watson Branch Lane in Mansfield. Mark Boone of LanCarte represented the seller, and Rudy Vasquez, an individual developer, represented the buyer. Traffic at the site, which is about three minutes from downtown, is roughly 32,000 vehicles per day. 

Fort Worth and San Francisco-based TPG said its Rise Funds, a multi-sector global impact investing strategy, has signed an agreement to make a significant investment in Tablet Command, a provider of incident management and response software for fire departments and emergency response agencies.

MicroTech, a leading Service-Disabled Veteran-Owned Small Business and technology solutions company based in Virginia was named the 2026 Corporation of the Year by the United States Hispanic Chamber of Commerce, which held its annual meeting in Fort Worth.

Angela Stanford has taken a position as an assistant women's golf coach at TCU, her alma mater. She will assist Angie Ravaioli-Larkin, who was her head coach when she was a standout for the Horned Frogs from 1996-2000. Stanford played the LPGA Tour from 2001-24, winning seven times, including a major title at the 2018 Evian Championship when she was 40.

Construction/renovation briefs:

• Edged Energy’s $300-million data center at 9720 Team Rockbrook Parkway in Fort Worth is looking at a November construction start, according to The Real Deal. The building is expected to be completed in April 2028.

• Texas Health Resources is spending $148 million on the Cramer Tower in Fort Worth. The Cramer Tower, 6100 Harris Parkway, is a seven-story, 215,000-square-foot hospital bed tower. Renovation work is expected to begin on Valentine’s Day 2027 and run until mid-March 2029.

• D-FW International Airport’s Terminal C will undergo a $100-million renovation of the baggage claim, security check point, restrooms and gate hold lounges. The renovated space spans 850,000 square feet. The renovations are set to begin in March next year and be completed by March 2030.

Defense industry digest:

• Lockheed Martin Corp., Grand Prairie, has received two awards totaling more than $1.3 billion. A $1,211,234,988 contract is for the Precision Strike Missile Increment 2 Early Operational Capability. Redstone Arsenal, AL, is the contractor and the estimated completion date is Sept. 13, 2031. A $97,637,145 contract is for the Multiple Launch Rocket System recapitalization. Work will be performed in Camden, AR, and the Texas cities of Grand Prairie and New Boston. Redstone Arsenal is the contracting activity with an estimated completion date of Sept. 4, 2031.

• Lockheed Martin is accelerating internal investments for its Vectis stealth drone, announcing it will build an additional four prototypes to the one in production. The additional aircraft will accelerate testing and validate production processes, said Ron Fehlen, who runs Lockheed’s Skunk Works advanced development division. 

• The Bell and Boeing Joint Project Office in Amarillo won an award not-to-exceed $35,524,950 to procure 73 gearbox vibration monitoring and Osprey Drive System Safety and Health Information system kits, and 77 Installations, as well as 11 prop rotor gear box installations. The dollars also acquire related spares, supporting non-recurring engineering, and associated travel for the government of Japan, and U.S. Navy, Air Force and Marine Corps. FIfty-four percent of the work will be performed in Fort Worth.

Snippets:

• Bo does or doesn't know: Why is an ESPN writer commenting on the Texas Railroad Commission race?

• Southlake-based Sabre announced an offering by its wholly owned indirect subsidiary Sabre Financial Borrower, of $1,100,000,000 aggregate principal amount of senior secured notes. 

• Elon Musk’s xAI and X Corp. resolved an antitrust lawsuit against Apple that accused the iPhone maker of favoring OpenAI’s ChatGPT over other chatbot makers. U.S. District Judge Mark Pittman in Fort Worth granted a request to dismiss the case against Apple. However, a case against OpenAI will continue.

Daily digit: Gallup says 54% of U.S. adults drink alcohol, matching 2025 as the lowest level in its polling history. That compares with 60% in 2021 during the COVID-19 pandemic and 67% in 2022. The historical high was 71% in the late 1970s; the previous low was 55% in 1958.

Significant stat: $1,685 = What a family of four can expect to pay to see a Cowboys game at AT&T Stadium this season, making it the ninth most expensive stadium in the NFL. Highmark Stadium, home of the Buffalo Bills, is the most expensive at $2,194, while Huntington Bank Field, home of the Cleveland Browns, is the least expensive at $823.

Announcements:

• Kelly Hart: Adds veteran trial lawyer and former federal enforcement attorney Tyson M. Lies as a Partner in the firm’s litigation section. Adds Hailey Lowery to its Oil & Gas/Energy practice area. 

• Parmer Consulting: Travis Parmer launches jury consulting services for Texas trial attorneys.

• Hole in the Wall Drywall Repair: Hires Christine Oliver-Hammond as Sure Start Coordinator. 

• Woodwright: Hires Tameron Bader as Regional Architect + Design Consultant.

• Trademark Property Company: Hires Tory Glossip as Senior Vice President of property management.

• Greenhouse Treatment Center: Hires Greg Powers as Executive Director, and Dr. James C. Montgomery and Dr. Bih Bikelle as medical directors. 

• Fort Worth ISD: Names Christopher Barksdale as South Regional Chief. 

• TCU: Selects Adriana Zappa Martin as Assistant Director, Student Affairs Business and Operations.

• JPMorganChase: Hires Rogelio Martinez Valdez as Loan Servicing Analyst for the Securitized Products Middle Office team.

• First Third Bank: Promotes Jennifer Asplet to Financial Center Manager II.

• Tarrant Area Food Bank: Adds Priscilla Miller of Higginbotham to its Board of Directors. 

• Texas Methodist Foundation: Launched by Ruby Sellers. 

• Flowserve: Names Brian Ezzell Chief Financial Officer.

• Civitas Senior Living: Adds Kari Wilson as Vice President of Sales and Deeni Rome as Regional Director of Sales and Marketing.

• Tarrant Regional Water District: Selects Savannah Thomas as Recreation Planner.

• IntelliPEST: Hires Kevin Daniel as Sales and Marketing Analyst. 

• Dan Dipert Coaches: Names Cade Muldrow General Manager. 

• Terracon: Hires Chris Nieto as Senior Client Development.

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