Lockheed settles suit; Berkshire stockpiles $ and takes bite out of Apple

Lockheed Martin’s suit against Howmet Aerospace concerning the supply of titanium for the F-35 has been settled, according to Breaking Defense. Lockheed claimed that Howmet cut off the supply of titanium in November 2023 after Lockheed refused to agree to higher prices, which Howmet said accounted for inflation and constrained global supply. Lockheed sued, claiming national security, among other things.

Berkshire Hathaway, which owns BNSF, TTI, Acme Brick, Justin Boot and real estate services in Tarrant County, reported quarterly operating earnings of $11.22 billion, plus $3.16 billion year over year. Its holdings include a record $35.55 billion in cash and $153.44 billion in treasuries. Insurance ($21.5 billion) and railroad ($24.4 billion ) led the way in revenues. Berkshire also reported it had sold about 115 million shares of Apple during the quarter for approximately $20 billion. That is 13% of its Apple shares. 

Voters in Tarrant, Denton and Parker counties approved a 2% increase in Fort Worth hotel taxes to fund the renovation of the Convention Center. The tax increase applies to hotel rooms or registered short-term rentals and is expected to generate $10 million a year, which will help fund the $700-million expansion.

Shares of Grapevine-based video game retailer GameStop rose 51% Thursday and Friday on no apparent news. Trading volume was 36.17 million shares; its 65-day average volume was 4.64 million. 

Double play: The Dallas Stars defeated the Golden Knights, 2-1, Sunday to advance in the NHL playoffs. The Stars will face the Colorado Avalanche, starting Tuesday. Also Tuesday, the Dallas Mavericks play top-seeded Oklahoma City Thunder in the second round of the NBA playoffs. The Mavericks eliminated the LA Clippers. Both series are best-of-7.

A 4.5-acre site in downtown Arlington’s entertainment district is for sale. Located at 201 E. Abram St., the property encompasses three city blocks and is marketed by Harvest MXD as a mixed-use, re-development opportunity. The property owner is Afallon Investments Inc., according to county records.

Opal Lee, 97, received the Presidential Medal of Freedom at a White House ceremony, one of 19 recipients in 2024 of the nation’s highest civilian honor. Lee is the "grandmother" of Juneteenth, a national holiday, and was nominated for the Nobel Peace Prize in 2022.

Communities still have clout: According to Tarrant County Commissioner Manny Ramirez, residents of the Silver Creek Road area near Lake Worth have rallied and a company planning to build a landfill in that area has withdrawn its application to the Texas Commission on Environmental Quality.

The corners at McPherson Boulevard and Chisholm Trail Parkway in southwest Fort Worth are bustling with plans for retail openings.

Hear Fort Worth, an initiative of Visit Fort Worth, and JPS Health Network have created Sound Care, which promotes health care for those in the music industry. Options include physicals, screenings, blood work and more at any Tarrant JPS Health Network location. Co-pays are on a sliding scale based on the applicant’s income.

TCU’s Veterans Plaza will be reworked to improve pedestrian safety and enhance visibility and awareness along University Drive. The crosswalk will be eliminated and landscape will be added.

Worth knowing: D-FW International Airport invites interested parties to attend a Concessions Pre-Proposal Conference event Tuesday, May 21, at the Hyatt Regency Terminal C from 1 to 5 p.m. (reserve a spot).

Making waves: Goodsurf, a 35,000-square-foot venue that combines a surfing wave pool with a bar and restaurant, is scheduled to open in Deep Ellum in June. The venue brings the experience of ocean surfing to landlocked areas.

Walmart is taking on Trader Joe’s and Whole Foods with a premium brand. The country’s largest grocer is introducing Bettergoods, aiming to attract new, often higher-income shoppers more frequently and encourage current shoppers to spend more. (WSJ gift article) 

According to Business Insider, higher-paid employees looking for work are having a tough time, and it could be a sign of a shift in the workplace. The hiring rate for workers making less than $55,000 annually (1.5%) is well above the rate for those making more than $96,000 (0.5%).

Snippets:

• National Teacher Week starts today and Whataburger is celebrating with free breakfasts and grant money. 

• Teen clothing retailer Rue21 plans to close all 540 stores following its third Chapter 11 bankruptcy filing. There are three in Tarrant County.

• D-FW International Airport increased all levels of daily parking to help with infrastructure costs. Rates increased between $2 and $5.

• A rule finalized by the National Highway Transportation Safety Administration will require automatic emergency brakes in all cars sold in the U.S. by 2029.

Today’s trivia: The opening track for Mission Impossible – two long notes, followed by two short notes – was inspired by the Morse code signals for “M” and “I.”

Daily digit: The fertility rate in the U.S. fell to 1.62 births per woman last year, representing the lowest level since the government began tracking it in 1930, according to federal data. Some 3.6 million children were born in the U.S. in 2023, down from a recent peak of 4.3 million in 2007 and the lowest figure since 1979.

Significant stat: 125 million = pounds of Velveeta sold last year. Last week, Kraft Heinz launched Velveeta queso in a resealable jar and two new varieties of Shells & Cheese — pizza and buffalo.

Wild card: What a Connecticut man learned after eating pizza every day for six years.

Announcements:

• Tarrant County College: Names Andy Bowne President of Southeast Campus.

• N. Central Texas Council of Governments: Adds Whitney Vandiver as Program Manager--Branding, Campaigns & Media.

• Texas Motor Speedway: Names Kristin Laird banquet sales manager and Kaitlyn Davis membership coordinator for The Speedway Club.

Last poll results: Do social media companies have too much political power? Yes (71%), No (24%), Undecided (5%).