11/08/2009

Investors hear whistle of railroad profit

DAVID WOO/DMN

Burlington Northern Santa Fe trains line tracks in Saginaw.

In the shipping battle of trucks vs. trains, Warren Buffett's wager is on rail. The next economic uptick – just getting started in some areas – will call Buffett's bet on whether railroads can deliver big earnings.

11/06/2009

Chrysler gears up for a full makeover

MARK ROGERS/Special to DMN

Chrysler leaders vow that the company nameplate will once again stand for quality.

A five-year, $23 billion plan to save the ailing company calls for overhauling or replacing all Chrysler, Dodge and Jeep models by 2014. Chrysler desperately needs new cars to strengthen its sagging sales, analysts say. Its sales are down 40 percent this year in an overall market that has dropped about 27 percent.

11/08/2009

How to beat grocery marketers
If you ever leave the grocery store with a slight sense of bewilderment at what you've just bought, don't be surprised.

Scrutinizing Medicare drug plans can bring big savings for seniors
Medicare beneficiaries have an added incentive to shop for the best deal on their drug coverage in 2010.

TECHNOLOGY
LOS ANGELES – Headbangers have a reason to steady their gaze a bit now that Metallica has made its way onto iPhones with a finger-tapping music app called Tap Tap Revenge: Metallica .

BOOKS
201 Knockout Answers to Tough Interview Questions

Executive changes
ALIXPARTNERS named David Wireman director in the Dallas office.

11/07/2009

Electric companies offer time-of-use pricing
TXU Energy and Reliant Energy have begun offering electricity pricing plans that charge more for power consumed during peak use times and less during low-demand times.

Online sites offer shopping deals by the day or hour
1 Countdown clocks are ticking all over the Internet with deeply discounted 24-hour deals this year.

BNSF delays southern Dallas project
The Great Recession is apt to delay Burlington Northern Santa Fe Corp.'s potential construction of a truck-and-rail cargo project in southern Dallas County, according to the railroad's top executive.

Online sites offer shopping deals by the day or hour
1 Countdown clocks are ticking all over the Internet with deeply discounted 24-hour deals this year.

11/06/2009

U.S. jobless rate tops 10% for first time since 1983

AP

Jahaira Perez (right) and Takela Lawrence look over job listings in Providence, R.I.

Nearly 16 million people can't find jobs even though the worst recession since the Great Depression has apparently ended.
Bill extends help to homebuyers, jobless
Dallas job news
Search job listings, post your resume Map: Unemployment by state
Blog: Economy

Consumer borrowing drops $14.8B in September
Consumers borrowed less for a record eighth straight month in September amid rising unemployment and tight credit conditions. Economists worry the declines in borrowing will drag on the fledgling recovery.

Even without some of its prized goals, American Medical Association backs House health care plan
Tthe American Medical Association committed in May to support the White House plan. The move was a calculation that the AMA could help pass a sweeping health care overhaul while securing its own prized goals: caps on medical lawsuit awards and the repeal of a formula that annually threatens to cut Medicare payments to doctors. But the House health legislation that is headed to the floor Saturday addresses neither special issue head-on.

Alliance Data Systems moving from Telecom Corridor to Plano tower

Trammell Crow

Plano has landed a major corporate office relocation. Alliance Data Systems is shifting its headquarters to the new One Legacy Circle office tower on the Dallas North Tollway near Legacy Drive.

Review: Tech toys over $100 that are worth every penny

U.S. natural gas supply may dry up within 30 years, T. Boone Pickens says
T. Boone Pickens, who has spent more than a year telling Americans the answer to their energy woes is natural gas, said Thursday the U.S. natural gas supply will probably dry up in about 30 years.

Compressed natural-gas cabs now fly 1st class at D/FW Airport, cutting to front of taxi lines
Natural gas-powered taxicabs will be first in line for fares at Dallas/Fort Worth International Airport after its board approved a measure designed to improve North Texas' air quality and reduce dependence on foreign oil.

Flight attendants to hold mock strike
The Association of Professional Flight Attendants will conduct a mock strike aboard some American Airlines Inc. flights on Nov. 18 as the union marks the 16th anniversary of its walkout against the carrier.

D/FW Airport sees 3.8% drop in traffic
However, the fiscal 2009 total of 55.9 million was 3.3 percent more than the airport budgeted for and passenger traffic has been outpacing its estimates this summer and fall.

11/05/2009

Rise in retail sales may prod stores to stick with full prices

JEFFREY PORTER/DMN

Neiman Marcus reported an uptick in sales of women's fine apparel in October, though.

Stores are heading into the key period with slashed inventories, determined not to have the fire sales that characterized last Christmas. But shoppers are still facing tight credit and a weak job market and might wait for fat discounts.
Black Friday deals | Neiman Marcus news | J.C. Penney news | Blog: Shopping

Report: More than 6% of Dallas-area home loans in trouble
The Dallas-area's late loan payment rate remains well below the national average of 7.27 percent, according to First American CoreLogic's report.

JDA Software makes second bid for Dallas-based i2 Technologies
JDA Software said Thursday the deal for Dallas-based i2 Technologies will help it expand its business.

Mutual of Omaha Bank opening new state headquarters in Dallas
The bank has leased 14,000 square feet of space in the lobby of the 5950 Sherry Lane building overlooking the Dallas North Tollway.

MetroPCS falls as company cuts subscriber forecast
MetroPCS Communications Inc. shares fell Thursday after the low-cost wireless provider reported a higher quarterly profit but cut its full-year subscriber forecast, citing continued economic weakness in the U.S. and increasing wireless market competition.

Dr Pepper 3Q profit up 43% on lower costs
The Plano-based company raised the lower end of its full-year guidance for the year, but shares fell as some analysts worried the change means their expectations for the fourth-quarter are too high.

Southwest Airlines passenger loads set October record
The jump in loads were the result of more traffic and fewer seats offered compared to the same month last year.
Latest Southwest Airlines news
American Airlines reports fuller jets in October
Airline Biz blog: Northwest Airlines pilots appeal loss of certificates

Pickup-for-pickup was most common 'cash for clunkers' swap

Congress votes for more aid to jobless, homebuyers
The White House says President Barack Obama on Friday morning will sign a bill that expands a popular homebuyers tax credit and extends unemployment benefits.

Northwest Airlines pilots appeal loss of certificates
The Federal Aviation Administration said Thursday that the two Northwest Airlines pilots suspended after flying past their destination last month have appealed the FAA's decision to take away their pilot certificates.

New U.S. jobless claims drop to lowest level since January
Still, companies are reluctant to hire and economists expect the unemployment rate will tick up to 9.9 percent when October's figure is reported Friday.

Neiman Marcus store sales fall only 6% as demand begins to creep back

FILE/AP

Neiman's saw better sales of women’s fine apparel in October.

Improving wealth trends such as year-to-date rises in the stock market may be having a positive effect, but it's still early to declare a turnaround in luxury, analysts say.
Latest neiman marcus news
Penney's same-store sales fall 4.5%
Other retailers' results improve some

Penney says store sales fell 4.5%, raises 3Q earnings forecast
Sales were better than expected during the first half of October, but then turned softer and below expectations by the final week, Penney said.

Ambit Energy leads SMU's list of 100 fastest-growing Dallas-area companies
The Dallas-based retail electricity provider that grew from 22 employees in 2006 to more than 200 today.
See the full list

PlainsCapital postpones its IPO
PlainsCapital Corp. has postponed its initial public offering, the Dallas-based financial services company said Wednesday.

Texas lawmakers try to give doctor-owned hospitals a dose of help
Texas House members are mounting a late effort to delay new limits on physician-owned hospitals, putting them at odds with Democratic leaders who think the facilities drive up health care costs.

11/04/2009

Wireless 4G plans take wing at Dallas conference

MICHAEL HOGUE/DMN

The wireless industry gathered Wednesday in Dallas to talk about the next generation of high-speed mobile connectivity and promote a new industry standard. But the spirit of cooperation went only so far.
Latest cellphone news
Link: About the conference
Blog: Technology

Texas' stimulus impact report counted summer jobs, had errors
Reports that Texas has created or saved 19,752 jobs so far with stimulus funding appear to overstate the impact of the program, according to interviews and an analysis of government data.

Fed again pledges to hold interest rates at record lows
With the recession apparently over, the Federal Reserve said it would keep a key rate low for an "extended period" to foster the fragile economic recovery.
Texas' stimulus report counted summer jobs, had errors
Latest economic news
Latest Fed news
Blog: Economy Watch

ISM's service sector index grows again in October
The Institute for Supply Management's service index dipped to 50.6 last month from 50.9. Any reading above 50 signals growth, but analysts polled by Thomson Reuters had expected a 51.5.

Allen's $52.6M event center opens
The Allen Event Center is planned to host more than 100 events a year, including concerts, sports, private parties and entertainment.

Fed likely to keep key interest rate at record low
Faced with lurking dangers to the budding recovery, Federal Reserve policymakers are sure to leave a key interest rate at a record low to entice Americans to spend more and help the economic turnaround gain traction.

This year, J.C. Penney says it's ready for Christmas

FILE/AP

Shoppers visit a J.C. Penney store in New York

This year, J.C. Penney Co. believes, people want to "give like Santa, save like Scrooge." So The Plano-based department store chain says it has sharpened prices even more for Christmas.
Latest Penney's news
Black Friday deals
Gifts for $25 or less
Blog: Shopping

Nokia Siemens' reorganization could cut 100 jobs in Dallas area
Nokia Siemens Networks announced a reorganization Tuesday that could mean close to 100 job cuts in the Dallas area.

AT&T sues Verizon over 3G coverage map commercials
The slapfest between AT&T Inc. and Verizon Wireless over which company has the better wireless coverage is spilling into court.

Adams Golf settles lawsuit on IPO
Plano-based Adams Golf said Tuesday it has agreed to settle a decade-old class-action lawsuit related to its initial public offering.

Dell to close quickly on Perot buyout
Dell also said that Perot Systems chief executive Peter Altabef will be president of the new Dell Services division and report to Michael Dell, chief executive of Dell.

Belo's third-quarter revenue fell 18%
Belo Corp. swung to a loss on write-downs between July and September, and revenue fell nearly 18 percent from the third quarter of 2008, the Dallas-based television company said Tuesday.

11/03/2009

Warren Buffett's purchase of Burlington Northern anticipates economic recovery

FILE/AP

Warren Buffett described the deal as a huge bet on the railroad business.

Purchase of the Fort Worth-based railroad would be the largest acquisition ever for Warren Buffett's holding company Berkshire Hathaway.
Company press release
Latest BNSF news
What they're saying about the deal

GM sales rise 4.7% in October
GM's news comes after Ford Motor Co. reported a 3 percent increase over October of last year, while Chrysler said its sales dropped 30 percent from October 2008.

Tenet Healthcare boosts outlook despite $3M loss in 3Q
For the three months ended Sept. 30, Tenet lost $3 million, or 1 cent per share, compared to a net income of $104 million, or 22 cents per share, during the third quarter of 2008.

Madoff's longtime auditor pleads guilty
Disgraced financier Bernard Madoff's longtime auditor has entered a guilty plea in a federal court in Manhattan.

Landry's Restaurants OKs $1.2B acquisition offer
The owner of Rainforest Cafe and other restaurants said Tuesday that Fertitta's company will pay $14.75 per share for Landry's stock it doesn't already own.

Index shows rise in commercial real estate values
Prices of properties sold by institutional investors rose nationwide by more than 4 percent in the quarter, the MIT Center for Real Estate said Tuesday.

Retirees revel in learning through University of North Texas noncredit program for seniors

KYE R. LEE/DMN

UNT is the latest four-year university and one of the first in this area to create a lifelong learning organization to accommodate older adults' intellectual curiosity.
Link: Emeritus College at UNT

Plano's Denbury Resources seeks new carbon dioxide sources to boost oil production
Plano oil company Denbury Resources' deal to buy Fort Worth's Encore Acquisition Co. could create big demand for carbon dioxide.

11/02/2009

Dallas area sees significant growth in clinical trials

DAVID WOO/DMN

Monya Sigler (left) examines the skin of Nance Bastian in a clinical trial on a topical cream at Stephens & Associates.

The Dallas-Fort Worth area is becoming a hot spot for clinical trials, which used to be limited to university hospitals and biotechnology centers in the Boston area.

Dean Foods CEO, USDA see higher milk prices ahead
The price for a gallon of milk could be as much as 20 cents higher by Christmas, a USDA economist said Monday.

Addison-based investor buys 2 office towers near Galleria
An Addison-based real estate investor has purchased two office towers at LBJ Freeway and the Dallas North Tollway.

Kroger plans Cityplace store if it can sell alcohol there
Before it commits, Kroger said it needs to be able to sell beer and wine, which would require a variance from the Dallas City Council.

Southwest Airlines pilots approve new contract
Pilots at the Dallas-based carrier overwhelming approved a tentative agreement five months after the Southwest Airlines Pilots’ Association rejected an initial offer.
Latest Southwest Airlines news
Blog: Airline Biz

U.S. pending home sales rise 6.1%
The volume of signed contracts to buy previously occupied homes rose for the eighth straight month in September as buyers scrambled to take advantage of a tax credit for first-time owners that expires at the end of this month.
Construction spending up in September
Map: D-FW home sales, prices
Get mortgage tips, tools

Ford surprises with $1B profit; sees profit in '11
Ford Motor Co. earned $1 billion in the third quarter, fueled by U.S. market share gains, cost cuts and the government's Cash for Clunkers rebates.

Denbury Resources to buy Encore Acquisition
Plano-based oil and natural-gas producer Denbury Resources Inc. said it will purchase Encore Acquisition Co. for about $4.5 billion, including the assumption of debt.

Making a big splash with investments means higher risks

DAN PAGE/Special contributor

If you want a higher return, you must take on more risk, and you can't blame consumers for wanting more bang for their buck. But in a low-rate environment like the current one, investors may wind up in more danger than expected, analysts warn.
More personal finance stories

Geithner: Economy rebounding, but job growth lags
Treasury Secretary Timothy Geithner acknowledges the federal budget deficit is too high, but says the priorities now are economic growth and job creation.

After nearly 2 years, businesses are buying
WASHINGTON – Businesses are finally willing to spend more money on equipment, a healthy sign for the economic recovery.

CIT Group files for bankruptcy to restructure
After struggling for months to avert bankruptcy, lender CIT Group has filed for Chapter 11 protection in an attempt to restructure its debt while trying to keep badly needed loans flowing to thousands of midsized and small businesses.

11/01/2009

Rising U.S. gasoline prices may hurt recovery

AP

Russ Conde of Kingston, N.H., fills his truck with gas at a station in Waltham, Mass.

Americans are paying more for gasoline than they did last year as the holidays approached – billions of dollars that could instead go to books, clothes and toys.
Gas price survival guide
Oil up to near $78 ahead of U.S. economic reports
Blog: Economy

Pentagon auditors warn KBR to cut jobs in Iraq
Houston-based KBR is the Army's primary support contractor in Iraq, responsible for everything from mail and laundry to housing and meals. Pentagon auditors are telling KBR to cut its workforce there or face nearly $200 million in penalties for keeping thousands too many on the payroll.