🪜Schwab announces change at the top; Council rep climbs entrepreneurial Hill; A Presidential precedent is set.

AT&T is selling the rest of its interest in DirecTV to private equity firm TPG, a minority owner based in Fort Worth and San Francisco, for about $7.6 billion in cash payments through 2029. DirecTV will now buy long-time satellite TV rival Dish from EchoStar.

Charles Schwab CEO Walt Bettinger, 64 and head of the financial giant since 2008,  said in a statement "the time is right" to transition from day-to-day duties. He will retire at the end of the year and be replaced by Schwab President Rick Wurster. Schwab, headquartered in Westlake, has $9.74 trillion in assets under management as of Aug. 31. 

Tailwind Philanthropic Advisors, the philanthropic advisory division of Tailwind Advisors, has re-branded as Macy Hill & Company. Macy Hill, a Fort Worth City Council representative, has been leading the fund at Tailwind and will continue to manage it independently under her brand. The families whose philanthropic efforts she oversaw at Tailwind are expected to join her in this new venture.

More details are available on the launch plans of the Texas Stock Exchange, which has $120 million in backing and wants to be more CEO-friendly.

2A Group, LLC acquired Fort Worth-based e-commerce brand CheaperThanDirt.com and the ammunition and shooting accessory inventory that will continue to be offered on the website. Jake Felde is CEO of 2A Group, which also manages e-commerce brand LuckyGunner.com. The Cheaper Than Dirt brand is known for its ammunition, shooting accessories, and outdoor gear. It began as a mail-order catalog business in the '90s. Michael Tenny was CEO of Cheaper Than Dirt.

In response to Hurricane Helene, American Airlines is donating 10 million AAdvantage miles to Airlink, a non-profit humanitarian organization that brings critical aid to communities in crisis. American has also partnered with the American Red Cross; visit redcross.org/aa to donate and earn AAdvantage miles. 

Fort Worth-based Aero Design Labs has received a Supplementary Type Certificate from the FAA and European Union Aviation Safety Agency for its next-generation Boeing 737-800 drag reduction kit 2.0.

Today’s trivia: Jimmy Carter, who has been in hospice care for 19 months, became the first former president to live to 100 years old yesterday.

The Modern Art Museum of Fort Worth announced Alex Da Corte: The Whale, on view March 2 – September 7, 2025. Da Corte is globally recognized for his hybrid installations marrying painting, performance, video, and sculpture. The exhibit features more than 40 paintings, several drawings, and a video that considers painting as a performative act.

The Fort Worth Chamber has launched an Energy Council, a platform for leaders to collaborate, share best practices, and tackle the industry's evolving challenges. It is led by Ryan Haggerty of RHR Oil & Gas and John Vallance of Whitley Penn.

America’s dockworkers launched their first strike since 1977, halting shipments at ports from Maine to Texas that handle nearly 50% of U.S. ocean shipping. The International Longshoremen's Association wants a 61.5% pay raise. A strike could impact the U.S. economy by approximately $540M per day.

Unreal real estate: One of the most expensive listings in north Texas is a 7,729-square-foot estate at 6960 Laurel Valley Drive in Mira Vista. Listed at just under $10M, the home overlooks a lake and the fourth hole of the golf course and includes a 2,200-square-foot covered patio. The property sits on 1.2 acres and has Trinity River frontage.

Get out of jail free card: Fort Worth Municipal Court is hosting a Court in the Community/Warrant Forgiveness event this Saturday at Diamond Hill Community Center for anyone with outstanding citations. Court staff will work with attendees on potential alternatives, such as community service or a reduced fine based on their ability to pay.

Several sources are reporting CVS Health is exploring options that could include a break-up that separates its retail and insurance units as investors are pressuring the company. (WSJ)

Money, money, money:

• Alice Walton's Fort Worth-based Art Bridges Foundation has donated approximately $250 million to the ALW Medical School in Bentonville, Ark. The Walmart heiress' namesake school is scheduled to open in 2025. 

• Victoria and David Beckham have a pending purchase of a Miami Beach estate asking for $80 million. 

• Divorcing Pritzker’s battle over a mansion worth a minimum of $150 million.

Believe it not: Fat Bear Week returns to Alaska's national park, pitting chunky brown bears against each other in a popular online voting contest starting today.

Daily digit: Baseball legend Pete Rose died Monday at 83. He was the all-time hits leader with 4,256. Only Rose and Ty Cobb amassed 4,000+ hits. Rose was barred from baseball for gambling.

Significant stat: Retail e-commerce sales will grow 8.7% this year, more than four times the rate of in-store retail at 1.8%, per a July 2024 forecast from eMarketer.

Announcements: 

• Hillwood Communities: Appoints Mark Meyer as Director of Planning and Innovation. 

• Fort Worth Report: Hires Scott Nishimura as a senior editor and general assignment reporter.

• Midland: Hires Stephanie Delgado as business development manager from CDFI Friendly in Fort Worth.

• bioMerieux: Hires Melissa Kelly Williamson as National Product Specialist. 

• Keller ISD: Names Traci Kraeszig as Director of Special Education.

• Sendero: Adds Tatum Fife as an Analyst.

• Danone: Hires Cacy Curtis as Sr. Director, Mission & Sustainability.

Poll results from the last issue: Do you conceal your political opinions on contentious issues in public? Answers: Yes (64%), no (16%), and it depends (20%).