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Dallas Business Journal
Celina leads U.S. in population growth. What's driving its growth?
Celina recently topped a list of the fastest-growing cities in the nation, reaffirming North Texas’ growth and the hold its northern suburbs have on the region and country. <\p> A new population estimate for 2023 says that Celina has 43,717 residents — an eye-popping 26.6% increase from July 2022 to July 2023, according to data released May 16 from the U.S. Census Bureau. <\p>
Some employers are weighing a six-day workweek
Editor's Note: Welcome to The Playbook Edition, a look at stories, trends and changes that could affect your business and career. Want more stories like this in your inbox? Sign up for The Playbook newsletter. <\p> Given how some hiring managers view them and the unique pandemic-fueled hurdles they've faced, Generation Z's debut in the workplace has certainly come with some challenges. <\p>
A James Beard finalist restaurant cuts services
Sandwich Hag – a popular Vietnamese sandwich spot near Downtown Dallas – will serve its last lunch service May 18. <\p> Owner and chef Reyna Duong announced via Instagram the sandwich shop will be "taking a long break, a much needed sabbatical of sorts." She assured her 12,500 followers that Sandwich Hag will not cease to exist. Duong did not disclose further information. <\p>
Dallas homebuilder makes major expansion push
Dallas homebuilder Highland Homes is acquiring home sites across South and Central Texas, making good on a bid for a larger footprint in the area. <\p> The builder announced it acquired about 130 positions in two New Braunfels communities: 80 in Sunflower Ridge and 46 in Legacy at Lake Dunlap. Highland's homes will offer floor plans between 1,500 and 2,700 square feet priced above $350,000. <\p>
How DFW's largest college woos students
As many higher education institutions continue to deal with enrollment declines that began during the Covid-19 pandemic, North Texas schools are getting creative to attract students and create the workforce of the future.<\p> That includes Dallas College, the region's largest post-secondary institution — it reported fall 2023 enrollment of 61,536, down 4.3% from a year prior.<\p>
Founder of one of nation's largest homebuilders dies
Donald R. Horton — founder and namesake of one of the country's largest homebuilders, D.R. Horton Inc. — has died, the company said May 17. He was 74.<\p> The cause and date of his death were not disclosed, but the company called it a "sudden passing."<\p>
DBJ leaders: Why we updated our design
Good design has purpose.<\p> The biggest redesign of DBJ in a decade is packed with purpose. Yes, the paper is slightly smaller — about 3 inches to be exact. American City Business Journals is standardizing its paper sizes across its 40 publications for the first time. This will make it easier for newsrooms to collaborate on editorial projects and for advertisers to make an impression in multiple cities.<\p>
John Goff has big plans in Houston
Houston-based oil and gas company Apache Corp. has sold a prominent property in its hometown to businessmen, including Fort Worth's John Goff, who plan to convert the undeveloped site into a mixed-use development.<\p> Goff, who serves as chairman of Houston-based Crescent Energy Co. (NYSE: CRGY) and Fort Worth-based Crescent Real Estate, and Doug Schnitzer, chairman and CEO of Houston-based Senterra LLC, partnered with Doggett Industries Executive Chairman Leslie Doggett to purchase the 6.3-acre parcel at the southwest corner of Post Oak Boulevard and Boulevard Place, in an area of Houston known as Uptown.<\p>
Why Dallas appeals as HQ to a remote-friendly tech co.
An expense-management and travel software provider has selected downtown Dallas for its new global headquarters<\p> Emburse Inc., a software supplier to huge companies such as ExxonMobil and Microsoft as well as small- and medium-size businesses, will close offices in Los Angeles and Portland, Maine, as it shifts operations and hiring to the century-old Market Ross Place in Dallas' West End. The company says it has 18,000 clients in 120 countries.<\p>
2 hedge fund firms, CRE investor raise new capital
Welcome back to Form D Friday, where we take a look at regulatory filings in North Texas to see which businesses and firms are raising capital for a new project, investment idea or other venture.<\p> Although the filings don’t have many details, they provide a glimpse at what businesses and investors might be planning.<\p>
The best and worst industries for finding a job right now
Workers in the market for a new job are finding quick success if they're targeting a select few industries — and, perhaps surprisingly, if they're hunting without the aid of artificial intelligence.<\p> A new survey from Resume Builder of workers hired into new jobs within the last six months paints a picture of workers in food and hospitality, retail, and construction being been able to find jobs quickly. Prospective employees in business and finance, education, and software are having a harder time landing a new job.<\p>
300-plus jobs pledged after incentives OK'd
ITS Logistics, a Nevada-based supply chain logistics and technology company, has confirmed it is expanding its presence in Fort Worth, taking the third floor of a building in the popular West Seventh area. The company estimates the new office will add up to 339 jobs by 2027.<\p> The news comes shortly after Fort Worth City Council voted May 14 in favor of an incentives package to give the company up to $847,500 in grants based on its hiring numbers. The item was on the council's consent agenda, which was approved.<\p>
Company backed by Mark Cuban scores fresh $165M
Dallas-based financial technology company Yendo Inc. has raised $165 million in new capital, much of it debt, to increase lending through its asset-backed credit cards.<\p> Yendo, founded in 2021, helps people who may not qualify for traditional credit cards due to a low FICO scores get access to credit. Through Yendo, individuals can tap into the equity of their car to gain access to up to $10,000 of revolving credit at interest rates comparable to unsecured super-prime credit cards. The credit limit depends on the make, model, mileage and condition of an individual's vehicle in addition to their ability to repay.<\p>
Foxtrot parent company files for bankruptcy
Three weeks after the sudden closure of all Foxtrot Market locations, the parent company of the small retail chain has filed for bankruptcy protection.<\p> Outfox Hospitality on May 14 filed a Chapter 7 voluntary petition in U.S. Bankruptcy Court in the District of Delaware.<\p>
Deep pockets in Dallas look to west side of Metroplex
Craig Scheef needed to make a small but very important change when Texas Security Bank opened its first branch in Southlake last year.<\p> Scheef, the bank's CEO and co-founder, had a cell phone number starting with "214" — the area code synonymous with Dallas.<\p>
Old Neiman Marcus facility to come down, big project to go up
Developers plan to tear down an Irving warehouse that used to be a distribution center for Neiman Marcus in order to build a large data center hub, hoping to take advantage of roaring demand in sectors such as artificial intelligence and cloud computing.<\p> PowerHouse Data Centers and an affiliate of Harrison Street purchased the 50-acre site at 111 Customer Way in Las Colinas, currently the site of a 491,000-square-foot building that was previously used by Dallas-based luxury retailer Neiman Marcus. Financial terms of the deal were not disclosed. Dallas Central Appraisal District values the property at $27.5 million.<\p>
Charles Schwab to make significant C-suite change
Charles Schwab Corp., one of North Texas' biggest financial services companies, is preparing for some significant executive changes.<\p> The Westlake-based investment management and banking firm said May 16 that the changes fit into its "long-term succession planning strategy."<\p>
Fastest-growing US city is in DFW
Collin County is not just a leader for population growth in North Texas — it's also one of the hottest spots in the entire nation.<\p> More evidence of that arrived May 16, when the U.S. Census Bureau released its latest city-by-city population estimates. Four Collin County cities ranked among the 10 fastest-growing in the country among places with population of at least 20,000.<\p>
AI's latest casualty? Entry-level jobs
Welcome to The National Observer, a roundup of top business news and actionable insights from across The Business Journals. We'll take a look today at how artificial intelligence is taking roles that used to act as entry-level positions; Frontier Airline's strategy targeting business travelers; and how you can buy everything in a Red Lobster restaurant. But we'll start with what higher-for-longer rates mean for those in the real estate business.<\p> Get more stories like these every day in your inbox by subscribing to The National Observer newsletter.<\p>
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