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Dallas Business Journal
Another longtime business to leave Sundance Square
An improv comedy company that has been located in Fort Worth's Sundance Square for roughly 27 years recently announced it is seeking another location.<\p> David Wilk, a founding member of Four Day Weekend, said the company found out two weeks ago that its lease at 312 Houston St. would not be renewed by the landlord when it expires July 31.<\p>
Dallas skyscraper has new owner
Slate Asset Management now owns Comerica Bank Tower, one of the biggest office skyscrapers in downtown Dallas.<\p> The Dallas Morning News reported May 24 that an affiliate of Canada-based Slate has acquired full ownership of the 60-story building at 1717 Main St. Slate was previously the lender on the property, according to DMN.<\p>
How big is Schwab in DFW — and how much more will it grow?
Charles Schwab Corp. could grow the workforce at and near its Westlake headquarters to 10,000 over the next few years, President Rick Wurster said.<\p> Schwab (NYSE: SCHW), which relocated its headquarters to North Texas from California in 2021, currently has around 7,000 people at its campus off State Highway 114, Wurster said during a May 21 briefing ahead of the financial giant's "Investor Day" on May 22. Executives laid out their growth plans, including what they see as an opportunity to add at least $500 billion in client assets following Schwab's multi-year integration of TD Ameritrade.<\p>
Walmart reducing Dallas operations, impacting over 1,400 employees
Walmart Inc is reducing its operations in Dallas, a move that will impact more than 1,400 employees. <\p> The retailer is closing its facility at 603 Munger Blvd. in Dallas and a call center at 1025 W Trinity Mills Rd. in Carrollton, according to two Worker Adjustment and Retraining Notification letters sent to the state. A spokesperson for the company didn't immediately respond to a request for comment. <\p>
Behind Texas Capital Bank's public finance play
As Texas Capital Bank enters the public finance arena, its head of corporate and investment banking has a clear goal.<\p> "I think that there should be a Texas-based bank that is in the top three for Texas underwriters," Dan Hoverman said.<\p>
A Covid-era option for bankruptcy filings is about to expire
Small businesses will be left without a useful Covid-era bankruptcy tool when it expires in the coming weeks — a development occurring just as bankruptcies are on the rise.<\p> The program, called Subchapter V, was created to enable businesses with less than $2.75 million in debt to go through the Chapter 11 bankruptcy reorganization process in a streamlined way. In March 2020, as the pandemic took hold across the country and worldwide, Congress raised that benchmark to $7.5 million, allowing many more businesses to use the Subchapter V option. <\p>
20 DFW leaders shaping our future
Dallas Business Journal is proud to present another edition of the Women in Technology Awards.<\p> DBJ is honoring 20 women from across North Texas in this year’s class. They have shaped our world through fields including global retail, cybersecurity, sales and marketing and biotech. The honorees hold multiple patents. A few have started companies. And others lead global companies or academic teams.<\p>
The 'lock-in' effect is hitting homebuyers. It may get worse.
Americans expect high mortgage rates to rise even more in the coming years, a perspective that could further dampen the housing market.<\p> The Federal Reserve Bank of New York’s SCE Housing Survey found Americans expect mortgage rates to climb from just under the 7% they are now to 8.7% a year from now and 9.7% in three years — the highest recorded since the agency started asking Americans that question in 2014.<\p>
Exec dedicated to helping DFW firm serve military families
First Command Financial Services Inc. has brought on a new executive to help oversee a transformation in how the company serves and supports military clients and their families.<\p> The Fort Worth-based financial firm announced on May 22 it has appointed Nancy Nee to the newly created role of chief strategy and transformation officer. Nee, who previously worked in the same role within the treasury services division of the Federal Reserve Bank of Cleveland, will have responsibility for leading First Command's efforts in developing new products and services while also implementing new processes and technology systems.<\p>
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