💡IRS decision lights up EV buyers; Carter Museum looking for leader; Swift-Kelce not the only engagement.

✅Scheduling note: 817 Biz will not publish Friday, August 29 or Monday, September 1 in celebration of Labor Day.

Lockheed Martin rose $7.74 (1.73%) after U.S. Commerce Secretary Howard Lutnick told CNBC that the Trump administration is "thinking about" whether to acquire equity stakes in major defense contractors and other industries. Lutnick singled out Lockheed, calling the company "basically an arm of the U.S. government."

Crescent Energy has entered into an agreement to acquire Vital Energy for a reported $3.1 billion in stock. The transaction establishes a top 10 independent with scaled assets across three premier basins. Crescent said the combined company is positioned “to generate significant free cash flow, supported by a strong balance sheet, peer-leading return of capital program and a deep opportunity set for continued growth through disciplined, returns-driven M&A.” 

Fort Worth-based TPG agreed to acquire Irth Solutions from Blackstone Energy Transition Partners. Irth provides enterprise software solutions that integrate geospatial data with business intelligence and AI to offer 360-degree situational awareness to energy and infrastructure companies. The platform serves more than 20,000 daily users.

Blackstone turned around and is trying to acquire TXNM Energy for $11.5 billion. TXNM filed applications for approval with the New Mexico Public Regulation Commission, Public Utility Commission of Texas, and Federal Energy Regulatory Commission. 

Amon Carter Museum of American Art announced that Andrew Walker, Executive Director the past 14 years, is leaving Aug. 31. Scott Wilcox, the Chief Operating Officer, will lead the Carter in the interim.

Phase One renovations for the Will Rogers Memorial Coliseum are expected to be substantially completed by late November at a cost of approximately $50.5 million. Fort Worth City Council allocated $45.5 million and the Fort Worth Stock Show allocated $5 million. 

Hood County residents who aren't enamored with a Bitcoin mining facility petitioned to create the city of Mitchell Bend. They are working to get away from the constant noise.

Aero Dynamix, which modifies and repairs 40-plus models of aircraft and employs around 100 night-vision professionals, re-upped for the nearly 28,000 square feet it leases in two Euless spaces at 3277 W. Euless Blvd. and 2805 W. Euless Blvd. Michael Spain and Jason Finch represented the landlord, Euless Industrial.

Stonepeak has acquired two logistics assets totaling 748,000 square feet at AllianceTexas. The properties are anchored by two Class I rail lines, the BNSF Alliance intermodal terminal and the Perot Field Fort Worth Alliance Airport.

Based in Grapevine, Base Power expanded its home battery service and operations and will serve Fort Worth, Dallas, Irving, North Richland Hills, Coppell, Arlington and Plano. Zach Dell, CEO and co-founder of Base Power, is the son of tech magnate Michael Dell.

Keurig Dr Pepper is buying the owner of Peet's Coffee for $18 billion. It then will break itself in two, with one company selling coffee and the other selling cold beverages Snapple, Dr Pepper, 7UP and energy drinks. The agreement unwinds the 2018 merger of Keurig and Dr Pepper.

REV Entertainment’s Sports Marketing division announced that Electrolit, a premium electrolyte beverage, is the official hydration drink of the inaugural INDYCAR Grand Prix of Arlington March 13-15. Electrolit will receive multiple activation and sampling spaces, and advertising. Additionally, Elecrolit will have a presence in the Arlington Entertainment District during select marquee events.

Frontier Airlines is adding routes from D-FW International Airport to New Orleans and south Florida. The carrier will begin flying three times per week Nov. 20 to Fort Lauderdale-Hollywood International Airport. Beginning Feb. 13, the carrier will fly twice per week to Louis Armstrong New Orleans International Airport.

The Community Developers Roundtable, with support from Texas Wesleyan University, is launching Thursday in Fort Worth to champion locally rooted developers who drive economic empowerment through real estate.

Fort Worth (5th) outpaced Dallas (15th) in economic growth among large U.S. cities, according to a report from Coworking Cafe. From 2019 to 2023, Fort Worth had a 9% increase in residents with college degrees, 8% population growth, 12% more housing units and a 40% jump in export value.

Tesla, GM and Ford electric vehicle buyers are receiving extra wiggle room from the IRS ahead of the Sept. 30 tax credit expiration. 

DIY projects are booming. In Q1 2022, approximately 67% of homeowners were doing their own home projects. Today, that’s up to 81%, with nearly half of all owners currently mid-build. Most of these projects are smaller, while bigger remodeling jobs are being pushed into the future, Home Depot CFO Richard McPhail said in an interview. Things may change once the Fed slashes borrowing costs, which is expected to happen next month.

Home prices are falling in half of U.S., new NAR data shows. Prices are holding up the worst in the West, where the median price fell 1.4% to $620,700 in July. Prices also fell 0.6% in the South to $367,400. The Midwest recorded a 3.9% increase in prices to $333,800, while the Northeast posted a 0.8% rise to $509,300. Nationally, the median price of existing homes was $421,400 in July, up 0.2% from a year ago. That was the 25th straight month of increases but also marked the lowest rate of price hikes in two years, according to Bloomberg.

Daily digit: 5 = Number of days through August that D-FW has experienced 100-degree temperatures. The yearly average is about 20 days and in 2023 the region had a historically high 55 days. In contrast, Phoenix averages 111 days of 100-degree heat annually. 

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Announcements: 

• HF Custom Solutions: Promotes Carolyn Phillips to Chief Revenue Officer.

• Higginbotham: Appoints Jennifer DeMello-Johnson Vice President of New Partner Growth & Engagement.

• Alcon: Names Ali Moses Wet Lab Manager.

• Omnicell: Names Baird Radford Executive Vice President and Chief Financial Officer.

• Kelly Hart: Adds Gregory Martin as Partner in its Estate Planning and Probate Group. 

• Fort Worth Opera: Names Ryan Lathan Director of Development. 

• VQ: Hires Linda Garcia as Chief Operating Officer.

• Siegfried Group: Names Peter Mozzone Managing Director. 

• MPLX GP: Adds Ray N. Walker, Jr., former EVP and COO of Fort Worth-based Range Resources Corporation, to its Board of Directors.

• Kinley Construction: Promotes Rennie Crisafulli to President and Josh Crisafulli to Chief Commercial Officer.

• Microsoft: Promotes Jonathan Munson to Senior Account Executive - Enterprise Majors Growth, Software & Digital Platforms.

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