🚨GM to spend $888M for new V-8; Smoke'N Ash BBQ on DDD TV; Is your business best in Fort Worth?

Los Angeles-based PS (formerly The Private Suite) began construction on a 12,200-square-foot private luxury terminal at D-FW International Airport. The suite and lounge space for commercial travelers will be next to the corporate aviation complex north of Terminal A and is expected to open next spring. An all-access annual membership is $4,850. (Photo: PS)

The Texas Legislature approved an $8.5-billion boost for public schools and Gov. Abbott already has said he will sign the bill. The funding for schools includes salary increases, special education, teacher preparation and operational costs.

After two deals for $3.3 billion, Fort Worth-based TPG explains how it intends to leverage tech inflection points with AvidXchange and Sabre Hospitality purchases.

What are the financial aspects of banning hemp sales in Texas? $5.5 billion in sales, 50,000 jobs and thousands of storefronts, distribution centers and cultivation operations. Bisnow takes a look. 

Ronald Reagan Washington National Airport is first up as American Airlines unveiled plans to debut boarding lanes that allow eligible travelers to pass through security using facial recognition technology, eliminating the need to present a physical ID. See when D-FW International Airport is in line for the technology.

Recycling at D-FW International Airport is a little easier with the addition of AI-enabled recycling and waste bins. D-FW has partnered with the regional Coca-Cola bottler on four AI-enabled recycling bins powered by SmartSort Technologies Inc. The bins are dual-stream units with receptacles for waste and recycling. As travelers approach a bin, its camera scans their items and displays directions for disposal on the screen.

D-FW is the fastest-growing headquarters market in America, gaining 100 relocations between 2018 and 2024, according to data compiled by CBRE. During 2024, California lost 17 headquarters, 12 to Texas. Public companies based in D-FW hold a combined $1.5 trillion in value—double from five years ago.

Grapevine-based GameStop initiated its previously announced intention to buy bitcoin with a $512-million purchase. Its stock dropped 11% Wednesday and another 5% Thursday.

Lockheed Martin has been awarded a $510-million contract modification from the Air Force, expanding a long-lead materials contract to include production of Foreign Military F-16 Viper Shield electronic warfare suites.

General Motors is spending $888 million at its site in Buffalo to develop a sixth-generation V-8 engine. It’s the largest single investment the company has made in an engine plant, a stark departure from an otherwise EV-focused auto industry.

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Acclaimed Arlington restaurant Smoke’N Ash BBQ Tex-Ethiopian Smokehouse is featured on this season of Diners, Drive-Ins, and Dives - and it had a watch party to celebrate.

Seratonin Centers, a wellness center and medical spa, has opened in Mansfield, the first of six planned for Texas.

The Fort Worth Chamber of Commerce is accepting applications for its 2025 Small Business of the Year Awards. Winners will be recognized during the Chamber's State of the City event in October. Applications close at 5 p.m. Friday July 11.

The Texas Legislature passed a bill that strictly defines man and woman based on reproductive organs. House Bill 229 has no civil or criminal penalties attached, but instead will take these new definitions and apply them across state records.

A potential law that prohibits state officials from removing firearms from individuals for any reason other than conduct that would result in a criminal charge is headed to Gov. Abbott for his signature. 

Former University of Texas NFL quarterback Colt McCoy is starting to build his team for his newly-launched Fort Worth office for Austin-based commercial real estate firm HPI.

Internal documents reveal Meta is exploring plans to open physical retail stores. The Facebook parent previously dipped its toe into retail with a pop-up store to sell its smart glasses in LA.

Snippets:

• D-FW International Airport is calling for public art from artists and curators for two locations in the under-construction, $1.6-billion Terminal F.

• According to a post on X, Byron Nelson High School head football coach Travis Pride has passed away unexpectedly. 

After five consecutive months of decline, U.S. consumer confidence surged in May. The Conference Board's index rose by 12.3 points to 98.0, surpassing expectations and indicating renewed optimism about business conditions and employment prospects.

Big box stores — traditionally not a place for pumps, unless they are sold in the shoe aisle — are turning into gas giants, expanding their hours, adding capacity, and building infrastructure. Retailers such as Costco, Walmart, Sam’s Club, and Dollar General are turning to the fuel business to boost customer loyalty, attract more shoppers and increase profits.

Daily digit: 8.2%. Percentage of 20-24 year olds who are unemployed. For men it’s 9.6%, starting a sad "stay-at-home son" trend this graduation season.

Significant stat: Lilo & Stitch set an extended Memorial Day weekend record, making $183 million domestically, the second-largest four-day opening. With an additional $158.7 million abroad for a $341.7 million opening, it’s one of the biggest debuts for any live-action Disney remake. Mission: Impossible – The Final Reckoning, the eighth iteration in the franchise, opened with $77 million and will become the highest-grossing entry in the series, beating Mission: Impossible — Fallout ($81 million total).

Announcements:

• Argent Financial Group: Hires Aubrey Gideon as Senior Trust Officer.

• TechFW: Accepts resignation of CEO Ryan Brown, effective May 31.

• Real Leaders Magazine: Selects Jess Stewart to its 2025 Top Executive Coaches list.

• State Bar of Texas: Appoints Kelly Hart attorney Joseph Austin to its Pattern Jury Charges - Business, Consumer, and Employment Committee.

• Schaefer Advertising: Promotes Katie Betik to Associate Director, Account Service-Real Estate 

• Cavendelle Road: Names Jennifer Castillo Managing Partner.

• Endries International: Promotes Jenni Detert to VP of Information Technology.

• Bat Around: Names Greg Skasko Chief Commercial Officer. 

• DPR Construction: Selects Kevin Kramer to lead its D-FW business unit operations.

• The C-Suite Network: Adds Steve Meek as C-Suite Network Executive Leader.

• Texas Medical Association Foundation Board: Elects Dr. Stuart Pickell, medical director of the Tanglewood Clinic and Project Access Tarrant County, as Vice President, and TMA Foundation volunteer and advocate Debbie Massingill as board secretary. 

• Neighborhoods USA Conference: Awards Como Neighborhood Association first place in the Physical Revitalization/Beautification category and Neighborhood of the Year award for the second consecutive year.

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