🏷️Newcomer Joby makes $500M purchase; Survey says: Better, but a ways to go; FW to throw arena goodbye party.

Friday, we told you Joby Aviation, an electric vertical take-off and landing aircraft company, was coming to Fort Worth. Yesterday, Joby said it would buy defense technology company Resonant Sciences for about $500 million as it looks to scale its business in the growing defense market.

Fort Worth City Manager Jay Chapa presented the Fiscal Year 2027 Recommended Budget, outlining a $4.35 billion financial plan that addresses slowing revenue growth, declining taxable values and rising operational costs, all the while trying to maintain core services. The proposed budget includes $3.32 billion in operating funds and $1.03 billion in capital investments.

AmeriTrust Financial Technologies, the parent of Fort Worth-based AmeriTrust, recently agreed to become the inaugural National Lease Partner for AutoSavvy, the nation's largest retailer of branded title vehicles with 21 dealership locations in nine states. The agreement provides AmeriTrust with the ability to originate, underwrite, and service lease programs for qualified customers.

Where's Chuck? Westlake-based Charles Schwab is caught in a litigation matter because of its recent acquisition, Forge Global. Linqto, Inc. is continuing its litigation against Forge and seeking full monetary damages for harms caused to 13,000+ customers, as well as re-payment of all legal fees. It claims that on July 15, just days before it was to exit from bankruptcy, Forge, under instructions from Schwab, broke its contractual commitment to serve as trustee for the Liquidating Trust as part of the confirmed Plan of Reorganization. 

Fort Worth Education Partnership released its 2026 City of Fort Worth Academic Performance Report: The grade is ... "this report contains some good news for Fort Worth kids and some signs of growing momentum. We still have a lot of progress that needs to be made, but we are on the right track," said President and CEO Brent Beasley. He described it as "You can be headed in the right direction, but a long way from where you’re going."

Neil Leibman, who has been part of the business side of the Texas Rangers organization since 2010, “will step down from his position with the club to focus on other business opportunities, effective immediately," according to a team announcement. Leibman has been an owner, and involved with the team's television networks and REV Entertainment. 

Stonepeak has acquired an 860,100-square-foot, rail-served logistics property in the Alliance sub-market, expanding the alternative investment firm’s real estate exposure to transportation-linked industrial assets. Financial terms were not disclosed. The logistic hub, where rail, air and interstate infrastructure converge, supports regional and national distribution. 

BNSF Railway had higher second-quarter pre-tax earnings off a combination of volume growth (6.5%) and higher revenue per load (7.6%). Earnings rose 13.9%, to $2.06 billion, as revenue increased 14.6%, to $6.56 billion. Operating expenses increased 15.6% compared to a year ago, as fuel costs surged 68%.

Lockheed Martin and Albany Engineered Composites agreed to partner to accelerate the delivery of high-rate, mission-ready hypersonic capabilities at the speed and scale recently demanded by the U.S. Department of War. The idea to reach that goal is to combine Lockheed's systems integration with Albany’s agile composite manufacturing. 

The Dallas office of Boston-based Cabot Properties sold an eight-building industrial portfolio totaling approximately 2.4-million square feet. Five of the properties were in D-FW, including Alliance near Perot Field, near D-FW International Airport, and in Arlington's Great Southwest. The portfolio was acquired by a private real estate investment firm. CBRE, Cushman & Wakefield and Eastdil Secured represented Cabot separately. 

Meta Platforms said it will comply with the data center standards and guidelines established by Texas Governor Greg Abbott. Meta says it already pays the full costs of the energy and water used by its data centers, as well as the grid infrastructure needed to serve its facilities.

Anyone remember the Washington Generals? The Fort Worth Convention Center Arena is being sent to the museum of relics, and Fort Worth is invited to celebrate all the great events, including historic concerts, sports and theater performnces. The free party is noon-4 Sunday Sept. 20. There will be live music and DJ music covering five decades of hits with a festival atmosphere and interactive experiences celebrating the history of the arena and future of the center.

S&P Global Ratings raised its long-term rating to 'AA+' from 'AA' on Bedford's general obligation debt and certificates of obligation outstanding. It also assigned its 'AA+' long-term rating to the city's proposed $4.7 million series 2023 combination tax and revenue certificates of obligation.

Tornado Terry's Family Amusement Park has reversed course and will keep its 35-year-old arcade open at 4530 Keller Hicks Rd. in Fort Worth, according to owner Shannon Bell. A surge of community support and media coverage should help overcome the 2.5-year ongoing work on Keller Hicks Rd. that has hampered access. 

Charlie McCollum, Wythe Roberts and Lyndon Todd of Transwestern helped close two deals:

• TEK Roofing Systems is expanding into a 31,000-square-foot, Class A space in south Fort Worth at 1501 Joel East Road (31,725 SF total). The move gives it critical additional storage capacity and strong access to I-35.

• Manufacturer LIYU Optoelectronic USA renewed and expanded at 2730 Ludelle Street, doubling its footprint to 18,000 square feet and growing its Fort Worth manufacturing operations. 

Building permits:

• Circuit Systems Company is spending $45 million to expand an existing warehouse at 5301 West Pioneer Parkway in Arlington by 21,000 square feet. Work is expected to conclude by December 2027 with 33,000 square feet. CIrcuit Systems is a manufacturer of aerospace binding jumpers, cables, wire harnesses and more. 

• Dynamic Systems is renovating its 300,000-square-foot warehouse at 2425 Esters Boulevard, near D-FW International Airport. DSI is estimating $10 million on the renovation, which is expected to finish in May.

Snippets:

• Bloomberg is reporting that GameStop’s CEO Ryan Cohen is considering pulling his $56-billion offer for eBay.

• American Airlines launches 15 new non-stop interntional routes. 

• 44 Tarrant area companies have earned spots in the 2026 Inc. magazine 5,000 Fastest Growing Private Companies list. See the list here.

• Brian Klaas, the new dean of the College of Business at UT-Arlington, talks why he chose UTA and what he has planned for a college of more than 6,500 students.

• Congress cut taxes and a Texas-based federal judge used it to rein in enforcement of the National Firearms Act, siding with Texas and a group of firearm companies against the federal government.

• Busted! A federal judge rejected an emergency request, thus allowing Texas' ban on popular hemp-derived THC items such as Delta-8, Delta-10, and THCP to remain in effect. Possession of the prohibited substances carry felony charges. 

The Greater Good Collective, an expansion of Presbyterian Night Shelter’s employment social enterprises, opens its doors August 24. It is located at 2603 S Cherry Lane just off I-30. Greater Good Collective offers visitors a place to shop, sip and socialize.

Today in history: 1981 = IBM introduced its first personal computer, the Model 5150. Starting at $1,565, it helped transform the personal computer from a hobbyist product into a mainstream business tool.

Significant stat: 1 billion+ = The number of users Google's Gemini app has, according to CEO Sundar Pichai. It is the company's fastest-growing product ever, and the 14th to hit the billion user mark.

Announcements:

• Coltala Aerospace: Hires Thomas McMinn as Vice President of Quality.

• T-Mobile: Hires Chris Sambar as Chief Enterprise Officer.

• Omni Hotels & Resorts: Promotes Kristan Davidson to Director, Executive Recruiting & Succession Planning.

• D&M Leasing: Celebrates 50th birthday🎂.

• Kelly Hart: Hires Allison Amaya to its Corporate & Securities practice area.

• Trinity River Authority: Hires Christy Jones as Communications Manager. 

• TCU: Names Lindsay Cadenhead Director of Extended Education, providing strategic leadership for TCU’s life-long learning initiatives.  Names Camila Bucio Lead Event Office Assistant. 

• Busey Bank: Hires Steve Gideon as Commercial Relationship Manager. 

• Fort Worth Afterschool: Hires Dr. Carlos Walker as Director.

• Destinations International: Selects Maura Gast, Executive Director of Visit Irving, for its Leadership Award. 

• EisnerAmper: Promotes Kara Calzada, CPA, to Assurance Senior Manager. 

• Medline: Promotes Carly Laidlaw to Project Manager. 

• Dallas Wings: Hires Jordyn Turner as Vice President and Chief Strategy Officer, and Caitlin Morgan as Vice President and General Counsel. 

• Hillwood Properties: Hires Luke Sullivan as Senior Associate - Retail. 

• Lockheed Martin: Selects Amber Hayes as Global Supply Chain Senior Manager for the Extended Range side of the GMLRS program.

• EliteOperator.ai: Names Val Riefenstahl as AI Transformation Partner.

• Lancarte Commercial Rel Estate Services: Names Brittany Doyle Senior Vice President-Retail Lead.

• Dallas-Fort Worth Urban League: Names Brandy Alfred CEO. 

• Loews Hotel (Arlington): Names Brian Johnson Area Managing Director. 

• Fort Worth Aviation Museum: Selects Dave Palmer for its 2026 Wings Award. 

• Catholic Charities Fort Worth: Adds Paul Boyd as Client Services Integrator.

• Acme Brick Company: Britt Stokes has retired after 40 years. 

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