Business

3:15 pm
Mon October 7, 2013

Victory Park, Take Two: Boosting Area Near Downtown Will Be Pricey

Victory Park opened to great expectations, but it's not attracting much foot traffic these days, while storefronts are empty. Plans are underway to improve the area near downtown. It could cost about $100 million, The Dallas Morning News reports. The Dallas City Council's economic development committee heard a presentation today and voted to send the matter to the full council.
In April we got a sneak peek at the plans to populate Victory Park with something other than empty storefronts and unfulfilled expectations. Today that do-over, which involves everything from two-waying one-way streets to reskinning sterile storefronts to just maybe dropping some kind of a ...
Business
1:40 pm
Mon October 7, 2013

UPDATE: Mark Cuban Back On Stand At Insider Trading Trial

Dallas Mavericks owner Mark Cuban is accused of dumping his stock in the internet search firm Mamma.com in 2004 after receiving confidential information from the company's CEO.
BJ Austin KERA News

Mark Cuban’s insider trading trial continues today, with the Dallas Mavericks owner back on the witness stand.

Cuban told jurors he first learned that the Securities and Exchange Commission was suing him for alleged insider trading when he tuned into the cable channel CNBC one morning in 2008.

Read more
Business
3:25 pm
Thu October 3, 2013

UPDATE: Mavericks Owner Mark Cuban Testifies In Insider Trading Trial

Mark Cuban during a break from testimony on Thursday in downtown Dallas.
BJ Austin KERA News

Dallas Mavericks owner Mark Cuban is in federal court in Dallas, telling jurors about calls and emails he sent to the CEO of an Internet firm shortly before he sold all his shares in the company. Cuban’s lawyers say there was no privileged information in the conversation.

Update, 3:15 p.m. Thursday: KERA's BJ Austin has this report on today's testimony:

The Securities and Exchange Commission says Cuban used confidential information from a phone call with the CEO of mamma.com about plans to sell more public shares of the company.

Prosecutors say that Cuban immediately sold his 600,000 shares to avoid losing $750,000. The additional stock sale would have diluted Cuban’s existing stock value and reduced his 6 percent ownership in the company. 

Read more
Business
3:10 pm
Fri September 20, 2013

Las Colinas-based BlackBerry To Lay Off 40 Percent Of Global Workforce

The BlackBerry, launched in 1999, was the dominant smartphone for business people before Apple debuted the iPhone in 2007.
Shutterstock

BlackBerry says it will lay off 4,500 employees, or 40 percent of its global workforce, as it reports a nearly $1 billion second-quarter loss in a surprise early release of earnings results.

The stock dropped 19 percent to $8.50 after reopening for trading. Shares had been halted pending the news, The Associated Press is reporting.
 
BlackBerry's U.S. headquarters is in Las Colinas.

Read more
The Two-Way
12:30 pm
Fri September 13, 2013

NPR To Offer Voluntary Buyouts In Bid To Balance Budget

NPR headquarters in Washington, D.C.
Charles Dharapak AP

Originally published on Fri September 13, 2013 12:46 pm

Saying that the goal is to balance its budget in fiscal year 2015, NPR announced late Friday morning that it will soon offer "a voluntary buyout plan across the organization that reduces staffing levels by approximately 10 percent."

Read more
11:39 am
Thu September 12, 2013

Court Okays American Airlines Bankruptcy Plan

The Fort Worth based carrier's plan to exit bankruptcy includes a merger with US Airways to become the world's largest airline.
A federal judge is approving American Airlines' plan to emerge from bankruptcy protection and merge with US Airways, although the airlines must still resolve their lawsuit with the federal government, which is trying to block the merger. A trial over that lawsuit is scheduled for November.
11:10 am
Mon September 9, 2013

Sold! Investors Buy Neiman Marcus For $6 Billion

A big day for Dallas-based Neiman Marcus. The luxury retailer has been sold.
Two large investors - Ares Management LLC and the Canada Pension Plan Investment Board - have reached a deal to purchase Neiman Marcus, Inc., for $6 billion, the companies said Monday. The two buyers will hold equal shares of Neiman, which is based in Dallas, Texas.
11:02 am
Tue August 13, 2013

Texas, 5 Other States And Feds Sue To Stop American, US Airways Merger

The Department of Justice wants to preserve the competition between American Airlines and US Airways and is moving to block their proposed merger. Texas Attorney General Greg Abbott is also suing, along with the state of Florida, Pennsylvania, Virginia, Tennessee and the District of Columbia.
The proposed $11 billion merger between Fort Worth-based AMR Corp. and US Airways hit a major snag Tuesday when the U.S. Department of Justice, six state attorneys general and the District of Columbia filed a civil antitrust lawsuit seeking to halt the merger. The proposed merger would create the world's largest airline.
Business
2:02 am
Thu August 1, 2013

As Back-To-School Shopping Begins, Consumers May Turn Frugal

Chris Viehland helps her daughter Jenna try on shoes for the new school year at a Famous Footwear store in Fenton, Mo., Aug. 9, 2012.
Christian Gooden MCT/Landov

Originally published on Fri August 2, 2013 5:01 pm

As August begins, retailers are stepping up sales promotions to attract back-to-school shoppers. And several states are offering tax-free shopping to encourage purchases.

But most economists say this year's sales will be slower than last summer's because consumers have been coping with more expensive gasoline and higher payroll taxes.

Read more
The Salt
1:57 am
Tue July 23, 2013

Texas Pit Masters Bask In Moment Of Barbecue Glory

The Pecan Lodge's combination plate, a meat lover's dream.
Wade Goodwyn NPR

Originally published on Thu July 25, 2013 2:18 pm

It's not even noon yet but every table out front of the Pecan Lodge in downtown Dallas is filled with veterans with barbecue heaped on their plates, smirking at the gobsmacked newbies. First timers are easily discernible by the stunned looks on their faces when they walk in and see the line.

Read more

Pages