🐎Ed and Sasha Bass make changes; FW's Elbit gets $370M in contracts; Wistrom opens $700M FW facility.

Pep Boys is being acquired by Mavis Tire Express Services for approximately $700 million in cash. Icahn Enterprises, which bought Pep Boys in 2016, will retain the owned real estate and the AAMCO Transmissions and Precision Tune Auto Care businesses. Pep Boys operates nearly 800 locations across the U.S. and Puerto Rico. With the acquisition, Mavis, the largest tire dealer in the U.S., will have more than 4,400 service center locations.

Elbit Systems of America, headquartered in Fort Worth, has received multiple awards from U.S. Customs and Border Protection totaling more than $370 million to enhance national security, with work to be performed through May 2029. Its parent company, Israel’s richest, offered no other details. 

Taiwan-based Wistrom opened its manufacturing plant in AllianceTexas Tuesday. The 324,000-square-foot facility that produces NVIDIA Grace Blackwell Ultra and will produce Vera Rubin Superchips is part of a combined $700-million investment in advanced American manufacturing. 

Fine Line LP, the Fort Worth-based family office of Sasha and Ed Bass, named Paul Rietema President and Chief Executive Officer.   The announcement said Ed Bass will continue as Chairman and Sasha Bass as Senior Vice President. Rietema has been the firm's General Counsel since 2020, providing strategic and legal counsel to Fine Line, the Bass family, and its many portfolio companies and investment partnerships.

Former Fort Worth Police Chief Ed Kraus is the new leader of Sundance Square, taking over Sept. 1 for Sasha Bass, who is stepping down as President and CEO to focus on the Sasha and Edward P. Bass Family Foundation. Sundance Square is a 37-block development of retail and business offices in the center of downtown. Kraus joined Sundance as an advisor and became vice president in 2020. Sasha Bass was the organization’s third CEO and the first woman to hold the position. 

The collegiate American Conference announced a two-year American Tailgate activation tour designed and managed by Fort Worth-based sports marketing firm Rally Department. The Conference's vision is to ensure "a top-notch experience for the fans, teams and stakeholders." First up is Philadelphia for the Temple-Penn State football game. 

Meet Morfius X-Rotor, Lockheed Martin's "one‑to‑many" airborne High-Power Microwave, counter‑drone system that can neutralize more than 50 enemy drones in a single flight. It was introduced at the Farnborough Air Show. 

And meet the PAC-3 Adapted Capability Effector (PAC-3 ACE), Lockheed's low-cost interceptor built to defeat a wide range of air and missile threats for less than half the cost of a traditional PAC-3 MSE per unit.

Holt Lunsford Commercial Investments acquired a 26.5-acre site in north Fort Worth to develop Meacham 820 Crossing, an industrial park with two Class A buildings totaling 238,000 square feet. Construction is expected in the fourth quarter, with delivery during the fourth quarter of 2027.

Thesis announced the acquisition of Arlington-based 3D Technologies, a long-time strategic technology partner with Thesis Elements, the company's cloud-native Student Information System built for higher education.

Chicago-based Amrize will acquire Rapid Redi-Mix, a concrete producer in Dallas-Fort Worth operating a network of batch plants and a mixer fleet. The company employs approximately 100 people. Amrize recently expanded its Midlothian cement plant and acquired PB Materials, an aggregates business in west Texas.

You may remember a few newsletters ago that we ran an analysis of American Airlines' focus on the luxury travel market. It since has announced plans to go all-in with its largest Admirals Club and its first Flagship check-in experience at D-FW International Airport.

Trending now: As consumers watch their spending, liquor companies are betting on smaller bottles. Makers of Jameson, Patrón and 818 Tequila are expanding miniature and half-size offerings, giving shoppers a lower-cost way to sample premium brands. Pernod Ricard, the Paris-based maker of Jameson, said its U.S. sales fell 12% in its fiscal third quarter.

Did you know? Ferdinand Dabitz, 25, is the youngest CEO of a federally chartered bank in modern American history. He heads Dallas' Augustus Bank. It just completed a $180-million Series B at a $1-billion valuation. 

Road Solutions of Kennedale has purchased 2.49 acres at 332-336 Thomas Place in Everman, just south of Fort Worth. The seller is a Fort Worth-based investment group. Road Solutions specializes in roadway lighting, traffic signals, overhead signage and intelligent transportation infrastructure. It intends to construct a build-to-suit facility. Transwestern's Jeff Givens, Lyndon Todd and Wythe Roberts repped the seller.

Organizers announced that the annual Pepsi National Battle of the Bands is relocating to Arlington from Houston the weekend of Aug. 27, 2027. AT&T Stadium is the host site.

Earnings reports:

• Westlake-based Charles Schwab reported second quarter net income of $2.8 billion, or earnings per share of $1.54. Excluding $170 million of pre-tax transaction-related costs, adjusted net income and earnings per share equaled $2.9 billion and $1.62.

• Fort Worth-based GM Financial reported net income of $432 million for the quarter ended June 30, 2026, compared to $510 million for the year-ago quarter. Net income for the six months ended June 30, 2026 was $946 million, down $54 million from last year. 

• Fort Worth-based natural gas producer Range Resources reported second-quarter revenue ahead of Wall Street's expectations with sales up 19.3% year over year to $833.6 million. Its non-GAAP profit of $0.79 per share was 21.5% above analysts' consensus estimates.

Snippets:

• Wreckage of a Pan Am plane is found 2,000 feet deep in the Atlantic Ocean 74 years after it crashed off Puerto Rico. 

• Costco debuts gas pumps as a standalone concept. 

• U.S. Air Force Chief of Staff Gen. Kenneth Wilsbach lays out his concerns for the service, including F-35 delays. 

• Shaq’s Big Chicken has pulled back across Texas, closing most of its restaurants, including the north Fort Worth location at 9749 North Freeway. The store, which Shaquille O'Neal opened in 2024, is listed for lease. 

• Cook Children’s has retired a twin turboprop and commissioned a second emergency transport jet for a faster, more comfortable patient experience. Read about the Teddy Bear Transport fleet and team. 

Significant stat: 700 = The milestone delivery during the Farnborough Air Show of a Textron Bell 505 helicopter, a light helicopter prominent in corporate aviation and military training. 

Today in history (1893): Katharine Lee Bates reached the summit of Pikes Peak and began writing the poem that became “America the Beautiful.” The words were later paired with Samuel Ward’s music and grew into one of the nation’s best-known patriotic songs.

Announcements:

• Westin Southlake: Hires Angela Plafcan as Director of Sales & Marketing.

• Hotel Association of Tarrant County: Hires Dani Ashton as Associate Manager.

• Medical City Healthcare: Corporate Affairs/Communications leader Elizabeth Couch announces she is joining the JPS Health Network. 

• DFW Bag: Names Chamina Watkins Educator of the Year for her after-school programs. 

• Prism Health North Texas: Names Matthew Judd CFO.

• Dallas Stars: Re-signs forward Jason Robertson to a one-year deal for $12 million.

• The Family Place: Names Amy Camp SVP of Fundraising.

• PCCA Marketing: Hires Lesley Dupre as Marketing Account Manager.

• JPAR Metro West: Adds agent Micalyn Slemmons Stout.

• Cheil USA: Names Gabe Williams Executive Director-Retail Innovation. 

• Bank of Texas: Donates $10,000 to CASA of Tarrant County, a non-profit advocating for children in foster care. 

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