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Houston Business Journal
Hurricane didn't stop sale of $10M home (PHOTO)
Some big real estate deals stop for nothing, and that apparently includes hurricanes.<\p> 3244 Chevy Chase Drive was the biggest residential real estate sale for the week of July 7, according to the Houston Association of Realtors.<\p>
Longtime US Rep. Sheila Jackson Lee dies at 74
U.S. Rep. Sheila Jackson Lee, a Democrat who represented a Houston district in Congress for nearly 30 years, died at the age of 74 on July 19. <\p> Less than seven weeks earlier, she announced on June 2 she had been diagnosed with and was being treated for pancreatic cancer. Previously, she had been declared free of breast cancer in 2012. <\p>
Local NASA project shuts down
A rover built at NASA's Johnson Space Center in Houston will never go on its original mission — but the space industry has a chance to get an up-close look at it.<\p> NASA said July 18 that it will wind down the Volatiles Investigating Polar Exploration Rover, or VIPER, project after costs ballooned beyond expectations. <\p>
Houston hotel industry sees Beryl boon
While many businesses saw negative impacts from Hurricane Beryl, Houston's hotel industry overall wasn't among them.<\p> There are 1,170 hotels across the Houston area, including Galveston, and most saw significant year-over-year increases the week of Hurricane Beryl, according to data from Houston First Corp. Across the area, the average occupancy rate was 72.2% for the week, up 13.4% from the same week a year earlier. <\p>
Fitness studio joining East End mixed-use
Midway’s East River mixed-use development has added a 24-hour fitness studio to its tenant lineup.<\p> Hotworx has leased a 1,700-square-foot space on the ground floor of the development’s parking garage and plans to open the new location this fall.<\p>
Roughnecks hire new GM after tough season
The Houston Roughnecks are making a change ahead of the United Football League's second season.<\p> The team announced July 19 it hired Will Lewis as general manager. He replaces Lionel Vital, who recently retired following the 2024 season.<\p>
Businesses, agencies ramp up backup systems after global tech outage
The global technology outage caused by a CrowdStrike update pushed to Microsoft Windows devices impacted everything from airlines to banks Friday morning — and reinforced the need for companies to have procedures in place to handle disruptions when they occur.<\p> Systems were gradually coming back on line by late morning.<\p>
$12B energy deal nears closing
Houston-based Occidental Petroleum Corp. (NYSE: OXY) is on its way to closing its $12 billion acquisition of Midland, Texas-based CrownRock LP after months of delay. <\p> After announcing the deal in December, Occidental and CrownRock received a request for additional information from the Federal Trade Commission, which has targeted many energy megadeals with antitrust investigations in recent months. <\p>
Big bank backs another Beryl relief fund
San Antonio-based nonprofit LiftFund, which has an office in Houston, has received the necessary capital to launch its Beryl Relief Loan Program to help aid small businesses during the recovery.<\p> The nonprofit announced on July 11 that it was mobilizing to raise $4.5 million to launch the relief program, which will provide interest-free loans for businesses in need of post-hurricane relief. San Francisco-based Wells Fargo (NYSE: WFC), the second-largest bank in Houston, became the lead funder of the program with a $250,000 grant, LiftFund said July 17.<\p>
Energy COO retires
Houston-based Vertex Energy Inc.’s (Nasdaq: VTNR) COO is retiring just a few months after the company announced plans to transition its renewable diesel facility back to conventional fuel production.<\p> James Rhame’s retirement is effective July 25, but he will remain in a consulting role through the end of 2024. Chief Commercial Officer Doug Haugh will also assume the role of interim COO. <\p>
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