💼How rail merger could affect BNSF; 2 of U.S. wealthiest cities in Tarrant; PBR Finals are back in Cowtown.

Today’s issue presented by:

Fort Worth-based StraCon Services Group recently received a 5-year prime contract supporting the Precision Strike Weapons Program Office. PMA-201 is responsible for research, development, acquisition and sustainment of the Navy’s air-to-ground precision guided weapons for the U.S. Navy and Foreign Military Sales customers. Deborah Paris is CEO. 

Texas lawmakers start a 30-day special session today. They will tackle new items Gov. Greg Abbott added and some items he vetoed from the regular legislative session. Among the agenda items are consumable THC, flood dangers, new congressional districts and abortion pills.

Marine Corps Lt. General Greg Masiello has taken the reins of the Lockheed Martin F-35 program from its outgoing leader, Air Force Lt. Gen. Mike Schmidt.

Bloomberg Law examines what the Supreme Court’s decision upholding an age verification pornography law in Texas means for future First Amendment restrictions and protections.

Ground has been broken for McKinney National Airport, which is building a $79-million passenger terminal for commercial travelers. It is expected to go live late this year with direct passenger service and it will have some impact on D-FW International Airport and Dallas' Love Field. How much? 

U.S. airlines earn ~$3.80 in profit from a $383 plane ticket, the average fare last year.

Two of the wealthiest communities in America -- Southlake and Colleyville -- are in Tarrant County, according to GoBankingRates. Based on 2022 and 2023 average household income data from the U.S. Census Bureau, Southlake moved up six spots to No. 7 and Colleyville debuts at No. 47. 

While the Panther Island development percolates, the ULI Advisory Services Panel and the Fort Worth Hispanic Chamber are looking to combat displacement in the Historic Northside neighborhood. Urban Land has this update. 

Trophy Club Town Council will address a vote of no confidence July 28 for Councilwoman Stacy Bauer after she was arrested on embezzlement charges in June, according to Community Impact.

Union Pacific and Norfolk Southern have started merger talks, signaling a potential transformation in North American rail operations, according to Railway Supply. A merger would create the largest network across the continent and connect the East and West coasts. Analysts say a merger would alter market dynamics and drive operational efficiencies.

A project to expand access, improve equity and meet the growing demand for skilled health care professionals is being undertaken by local colleges with a $5.7-million federal grant from the Department of Labor. The project unites Tarrant County College with Dallas College, Navarro College, Hill College and the Dallas-Fort Worth Hospital Council. 

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Trinity Habit for Humanity purchased land in Forest Hill, where the organization will develop a neighborhood featuring 114 mixed-income homeownership opportunities.

Revenue growth of 25%, and net assets growth of 31% power Charles Schwab to record second-quarter results. One million new accounts push total client assets to record $10.76 trillion. 

CEO Rick Wurster says Charles Schwab is preparing to launch trading for bitcoin and ether as it aims to become a dominant player in digital asset custody for U.S. retail investors.

 Snippets:

• How Walmart is looking to redefine itself to high-income e-commerce shoppers.

• A 16-year-old in Dallas is using AI to help protect senior citizens from online scams.

University of Texas at Arlington researchers are studying a type of magnetic property that could lead to stronger magnets made from tiny particles of common iron oxide. If successful, it could reduce the need for rare-earth metals, materials that are more costly, less sustainable and harder to obtain.

Because Arlington and AT&T Stadium are a host site for FIFA's 2026 World Cup, the Professional Bulls Riders World Finals will move to Dickies Arena in Fort Worth. Earlier rounds of the PBR event will remain at Cowtown Coliseum. 

While Tarrant County plans re-shaping of its districts and President Trump asks Texas to re-do its voting boundaries, a Federal Court in El Paso is reviewing arguments about a 2021 re-districting of Fort Worth's Senate District 10 race.

The Texas Tribune reports that 1.7 million Texans could lose health coverage under expiring tax credits and Affordable Care Act changes. 

Congress has approved a Trump administration plan to rescind $9 billion in previously allocated funds, including $1.1 billion for the Corporation for Public Broadcasting. That would cut all federal support for NPR, PBS and their member stations. Locally, KERA says $2.7 million will be rescinded. 

Significant stat: The U.S. population aged 65+ grew 13% between 2020 and 2024, while the number of Americans under 18 fell by 1.7%.

Daily digit: 12.4% = Share of job cuts accounted for by AI, according to an analysis by talent and HR advisory firm LHH.

Announcements:

• Fidelity Investments: Hires John Besancon as Director of Finance in real estate. 

• Tarrant County College: Hires Arturo Ozuna as Director of AI Learning and Development. 

• Heidelberg Materials: Names Dareson Wair Human Resource Coordinator. 

• Charles Schwab: Appoints Matthew Flood head of investment manager research.

• Fort Worth Report: Hires Eva-Marie Ayala as Assistant Managing Editor; promotes Jacob Sanchez to Education Editor; adds Forrest Millburn as Director of Audience. 

• Building Controls & Solutions: Hires Galen Riddle as Chief Financial Officer.

• TwoTen: Adds Ben Witten as a Partner.

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