❎Trump declared 47th President; Be alert for speeding drones; Why are homebuyers becoming older?

Early this morning, former President Donald Trump was declared the next President, defeating Vice President Kamala Harris by passing the necessary 270 electoral college votes to become the 47^th President. Other major races saw Texas Senator Ted Cruz prevail to win a third term over U.S. Representative Colin Allred. Also, Republican state Rep. Craig Goldman defeated Democrat Trey Hunt to succeed retiring long-time U.S. Rep Kay Granger. See more election results here.

James Hill has been re-elected to a 3-year term by the Federal Reserve Bank of Dallas board of directors by its member banks. The Fort Worth resident was initially elected in July to fill an unexpired term ending in December. He is director of the Center for Real Estate at the TCU Neeley School of Business, where he also serves as a professor in the finance department.

Salcomp, a Finnish global manufacturer of power supplies for mobile and electronic devices, has committed to establish its U.S. headquarters in Arlington with plans to create 660 new positions. The company, which has a manufacturing facility in Arlington, will enter a performance agreement with the Arlington Economic Development Corporation (EDC) to help offset associated costs.

These aren’t your father's drones! Walmart and Wing team up for Fort Worth deliveries with drones capable of reaching 65 miles per hour. 

Marketing madness: If you were planning to purchase a commercial to advertise your company in Super Bowl LIX, you’re out of luck. Fox announced it has sold the last remaining in-game unit. Prices this year fetched record amounts with a 30-second spot averaging over $7 million.

Daily digit: 6.72% = The average 30-year fixed mortgage rate for the week ending Oct. 31 according to Freddie Mac. That’s up from 6.54% last week and the fifth consecutive weekly increase.

The government of Australia canceled the country’s largest space program with Lockheed Martin. It was projected to be worth at least $5.3 billion. 

FST Logistics, a leading provider of third-party logistics solutions, has opened a 384,000-square-foot warehouse in Fort Worth. The facility will significantly increase FST Logistics' total storage capacity and supply chain solutions to the southern U.S. region.

McKesson Medical-Surgical Inc. has agreed to pay $448,000 in back wages to resolve systemic hiring discrimination allegations. The Irving-based government contractor is accused of discriminating against applicants for associate material handler positions at its Grapevine distribution facility, according to a press release from the Department of Labor. 

Fort Worth healthcare management company CorVel reported net income of $23.4 million on revenue of $224,4 million during its fiscal second quarter. Its shares finished up 5.2% Tuesday. 

Where else would Fort Worth buy a helicopter? The police department orders a second Bell 505.

Cleburne-based vertical farming company Eden Green Technology has had its tech honored in TIME Magazine's Best Inventions of 2024.

The Secretary of State’s office reports that 9,034,866 Texans voted early. That is 48.51% of registered voters. 2020 numbers were 9.7 million and 57.22%.

D-FW International Airport will get $15 million from the Federal Aviation Administration for the exterior infrastructure of Terminal F. This terminal will add 22 new gates that support gate access for 15 aircraft.

TGI Fridays has filed for Chapter 11 bankruptcy. The restaurant group headquartered in Dallas had closed locations recently and attempted to renegotiate its financing. There are 56 franchisees in 41 countries and they aren't part of the bankruptcy. 39 restaurants in the U.S. are corporate-owned. 

The U.S. Small Business Administration proposed a rule to expand the use of the “Rule of Two” in multiple-award contracts. Under the rule, an agency must set aside the award for small businesses where there is a reasonable expectation of receiving offers from two or more small businesses that are competitive in price, quality and delivery. 

The U.S. Court of Appeals for the Ninth Circuit vacated the Department of Labor rule implementing President Joe Biden’s executive order to impose a $15 minimum wage mandate for contractors. It found that the DOL violated federal law when it overlooked alternatives to the mandate.

The Eagle Mountain Saginaw ISD Board of Trustees has selected Jerry D. Hollingsworth, Ed.D., as the lone finalist for its Superintendent of Schools. Hollingsworth, an educator for 31 years, most recently was Superintendent in Waxahachie. 

Billionaire Rakesh Gangwal has been named Chair of Southwest Airlines Co.’s Board of Directors. He co-founded IndiGo, India's largest airline and replaces Gary Kelly, who retired early after Southwest reached an agreement with activist investor Elliott Investment Management LP.

The average age of U.S. homebuyers has risen to 56, up six years since July 2023, a sign that younger Americans are being priced out of the market due to escalating ownership costs.

Record numbers of wealthy Americans are planning to leave the U.S. after the election, according to CNBC. Attorneys and advisors to family offices and high-net-worth families said they’re seeing strong demand from clients looking for second passports or long-term residencies abroad.

Believe it or not: Is Blue Zones bunk? Some places in the world are known for having an above-average number of people of advanced age.  A new study — not yet peer-reviewed — proposed these places may have surfaced due to clerical error or fraud.

Snippet: She spent 3 years wooing Costco to sell her snacks – that was the easy part. A one-woman startup scored a $375,000 order from the retail giant. Could she pull it off? (WSJ) 

Significant stat: From January to September, there were 38.1 million televisions sold with a width of at least 97 inches, a 10-fold increase from last year. The super-sized television prices have dropped significantly. The first 98-inch television from Samsung was introduced in 2019 for $99,000. The average price of a TV over 97 inches fell from $6,662 last year to $3,113 this year.

Announcements:

• D-FW International Airport: Names Sandra Garcia Development and Leasing Project Manager.

• Fort Worth Metropolitan Black Chamber of Commerce: Announces retirement of Barbara Bolden after 24 years. 

• Arlington Sports Commission: Selects Rally Department as official Sports Marketing Partner. 

• Golfbreaks by PGA Tour: Adds Levi Bilbrey as Head of Marketing.

• Encompass Health Rehabilitation Hospital of Arlington: Names Mindy Hong CEO.

• Mouser Electronics: Names Eric Wendt Vice President of Supplier Management.

• Ryan: Hires Cody Crume as Manager, Sales and Use Tax.

• That 1 Thing: Adds Rhea Jackson as Director of Operations.

• Morada Senior Living: Adds Beth Crowe as Business Office Manager.

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