Forcast of Economic Activity Rises for Third Straight Month
More plans to build homes, higher stock prices and fewer first-time claims for jobless aid sent a private-sector forecast of U.S. economic activity higher than expected in June. It was the third straight monthly increase for the New York-based Conference Board’s index of leading economic indicators and another sign pointing toward the recession ending this year. The index rose 0.7 percent last month, more than expected. More
LCRA Considers Long Range Water Needs
At the next turn of the century, with the Austin area looking something like today's Houston, Travis County will see a near-tripling in water demand. Williamson and Hays counties will require four or five times as much water as they do now, as our descendants will need water to drink, to bathe and to wash clothes and dishes. And on the Gulf end of the Colorado River, in Matagorda County, demand for water will roughly triple with new power plants requiring it to help cool their systems and power their turbines. More
Austin Home Sales Hit Highest Level in a Year
Austin-area sales of existing homes hit the highest level in a year last month, according to figures Monday from the Austin Board of Realtors. Last month, 2,135 single-family homes were sold in the area, down 4 percent from a year earlier. That was the smallest decline since a 2 percent drop in July 2007, when the market began to soften amid an emerging national mortgage crisis. More
Texas Representative Indicted on Tampering, Perjury Charges
A Travis County grand jury indicted state Rep. Ismael "Kino" Flores on Friday, accusing him of failing to disclose income, gifts and property on his state disclosure forms. Flores, a Democrat from Palmview in South Texas, was indicted on 16 counts of tampering with a governmental record and three counts of perjury, accused of failing to report $847,000 in income over the last six years. More
Texas Home Builders Workers’ Comp Group Announces Dividend
Hotchkiss Insurance Agency, LLC announced a $59,360.36 dividend to the Texas Home Builders Workers' Comp purchasing group today. The group, formed in September, 2005, exclusive to home builders in Texas, provides qualifying members with a competitive option for workers' compensation coverage. The announcement marks the first dividend payment for the group by Texas Mutual, the program underwriter. More
Texas Stalling on Extended Pay for Jobless, Critics Say
Critics say the Texas Workforce Commission has overstated the role that federal requirements played in delaying 13 more weeks of unemployment benefits for Texans who have been out of work more than a year. Andrew Stettner of the National Employment Law Project, an advocacy group for low-wage workers, said a requirement that the jobless document their work searches is a quarter-century old and has been partially waived by the Obama administration. More
Oil Hovers Near $64 a Barrel as Earnings, Demand Weigh
Oil prices hovered near $64 a barrel as investors weighed improving corporate results against weak crude demand. By midday in Europe, benchmark crude for August delivery was up 18 cents to $64.16 a barrel in electronic trading on the New York Mercantile Exchange. On Monday, the contract rose 42 cents to settle at $63.98. More
Sales Tax Revenue Down Across Valley, State
Monthly sales tax revenues are down across the state and the Rio Grande Valley, according to statistics released by the comptroller’s office. The comptroller’s July report reflects retail sales in May. Year-to-date numbers represent revenue since Jan 1. Nearly every city in the lower Rio Grande Valley has seen a decrease in monthly tax revenues and fewer than half have made gains on year-to-date revenues compared with last year, according to the comptroller’s office. More
Report: Wind Power Faces Turbulence
Although the U.S. wind power market had another strong year in 2008, the global recession is expected to take its toll on industry growth into early 2010. A report by Lawrence Berkely National Laboratory released last week by the U.S. Department of Energy shows that U.S. wind power capacity additions increased by 8,558 megawatts in 2008, reflecting a $16 billion investment in new projects. More
Real Estate Veterans Launch Firm Focusing on Sale of Bank Owned Assets
Two North Texas residential real estate development veterans have launched a company focused on helping banks manage and dispose of single-family developments and lots. Principals Jim Tchoukaleff and Jack Murray have formed Dallas-based Contour Real Estate & Development LLC. More