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- 🏆Texas is No. 1; Supremes to hear Arlington case; AA flight attendants awarded $1M
🏆Texas is No. 1; Supremes to hear Arlington case; AA flight attendants awarded $1M
PLUS: More bite-size business news to keep you informed and make you smarter
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đź“ŁNEWS OF THE DAY:
Texas finished No. 1 in Site Selection Magazine’s 2023 annual ranking of state business climates. It is the first time since 2011 that Texas earned the top spot and it’s a jump from 4th place last year. The list uses 10 criteria, including a survey of corporate site selectors, projects logged in the publication’s database and independent measures of states’ attractiveness to capital investors.
The Colleyville City Council re-approved the Christmas Gift Card program, wherein each household within city limits receives two $35 gift cards that must be redeemed by Jan 14 at participating restaurants and retailers in Colleyville. The program began in 2018 as part of the city’s effort to help businesses affected by construction along Highway 26. |  |
The Supreme Court is scheduled to hear a major gun rights case tomorrow. An Arlington man who is a suspect in multiple shootings said his Second Amendment rights were violated by a domestic violence restraining order that prohibited him from being armed. The court’s decision could have a profound effect on gun restrictions across the country.
Bell Helicopter has been given the go-ahead to sell contracted logistics support and related equipment to Iraq for an estimated cost of $300 million. The work will be done in Fort Worth.
Siemens is opening a new $150 million high-tech manufacturing plant in Fort Worth that will create more than 700 jobs with average wages exceeding $63,000. The state-of-the-art building will produce low voltage switchgear and switchboards. Production at the new facility is expected to start in 2024.
Winners all around: Ryan Cohen, billionaire CEO of Grapevine-based GameStop, promised Texas Rangers players a $1,000 gift card if they won the World Series. He promised the Arizona Diamondbacks players a cactus tree and a $5 gift card.
A California jury ruled that a clothing company should pay more than $1 million to four American Airlines flight attendants who blamed chemicals used in the production of their uniforms for causing a variety of ailments including rashes, headaches and breathing problems. The judge has yet to affirm the verdict. Lawyers say they represent more than 400 other flight attendants who are making the same claim.
Todays’ trivia: The Texas Rangers are the third team to go from losing 100+ games to winning the World Series two seasons later. What were the two teams that did it previously? (see answer below)
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Significant stat: The U.S. added 150,000 jobs in October, the lowest number of jobs added since January 2021, according to Bureau of Labor Statistics. The unemployment rate rose slightly, from 3.8% to 3.9%.
The government-sponsored Freddie Mac announced that mortgage rates are climbing toward 8%. It is the longest consecutive rise of rates since spring 2022. If you think rates are high, see this chart showing annual averages for 30-year, fixed-rate mortgages back to 1971.
NOTABLE & QUOTABLE: “ “If you don't have flexible budgeting, you won't have flexible thinking.” -- Mike Sherrod, Entrepreneur in Residence, TCU Neeley School of Business
Alcon, the Fort Worth-based maker of eye pharmaceuticals, contact lenses and surgical equipment, has been named Industry of the Year in the City of Fort Worth’s 2023 Environmental Excellence Awards.
Kevin Todd, Director of National Accounts for Ben E. Keith, was recognized as Sales Rep of the Year by voters of the DMA Awards (Direct Memory Access).
Texas Monthly, owner of television show Texas Country Reporter, selected Texan J.B. Sauceda as storyteller/ host for the 53rd season. He replaces Bob Phillips, who sold the show but remained with it for two seasons.
“We got a call about a consultant.”
đź‘źPEOPLE ON THE MOVE:
LiftFund: Hires Erika Hersh as Business Development Officer D-FW
Texas A&M Landscape, Architecture & Urban Planning: Adds Cassie King, Trademark Property Company, to Board
Private Property Management Firm: Launched by Hunter B. Johnson
Sabre Travel Solutions: Hires Chinmai Sharma as Global Head of lodging, ground and sea
✂️SNIPPETS FROM AROUND THE WEB:
GM, Ford raising doubts about the strength, profitability of the electric vehicle market.
U.S. consumer confidence dropped for the third consecutive month despite the booming economy.
Nothing to do with business 1: See the winners of the 2023 dog photography awards.
Nothing to do with business 2: American Airlines offers only 5,000 bonus miles for this complaint?
(Answer: The two teams that did it previously were the 1914 Boston Braves and 1969 New York Mets.)
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