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Home    Education    Legislative    Publications    Calendar    Sunbelt Builders Show    Resources Nov. 13, 2012


TAB News Briefs
Nov. 13, 2012
TAB Quick Links >    Home     Education     Legislative     Publications     Calendar     Sunbelt Builders Show     Resources



Fannie, Freddie report profitable quarter
The Washington Post    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Mortgage finance giants Fannie Mae and Freddie Mac reported billions of dollars in profits during the third quarter as improvements in the country’s housing market helped boost home prices and cut down on delinquent loans. Fannie Mae said it earned $1.8 billion between July and September, compared with a loss of $5.1 billion in the same period last year. At Freddie Mac, profits totaled $2.9 billion during the third quarter, up from a $4.4 billion loss in 2011. More



Report: US to be world's biggest oil producer by 2020
Dallas Business Journal    Share    Share on FacebookTwitterShare on LinkedinE-mail article
The United States will overtake Saudi Arabia as the world's biggest oil producer by 2020, according to the International Energy Agency. The Wall Street Journal reported that it is thanks to a shale-oil boom in the U.S. that may influence not only energy supplies, but U.S. politics and diplomacy as well. The Journal said that the surge in U.S. oil production to a projected 11.1 million barrels a day by 2020. More

Home builders on the rise
The Wall Street Journal    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Home builders D.R. Horton Inc. and Beazer Homes USA Inc. posted big jumps in revenue as the residential construction industry continues to reap the benefits of the nascent housing recovery. Fort Worth, Tex.-based Horton, the largest U.S. home builder by annual closings, reported its most profitable year since 2006, capped by a sharp rise in fiscal-fourth-quarter profit on strong revenue. Meanwhile, Beazer, the country's ninth-largest home builder, also posted strong revenue gains, but its fiscal-fourth-quarter loss widened as the home builder recorded a large loss related to a debt payment. More

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Home Depot: Sales upturn signals housing market 'healing'
eCredit Daily    Share    Share on FacebookTwitterShare on LinkedinE-mail article
A reinvigorated housing market translates into more consumers initiating home-improvement projects. And that spells a healthy quarter in sales for Home Depot. Indeed, the home improvement chain indicated in its third-quarter report that the housing market has turned the corner. "Our third-quarter results were better than we expected and reflected, in part, what we believe is the start of the path toward the healing of the housing market," said Frank Blake, chairman & CEO, in a statement. More

Cornyn looking good for Whip
Fort Worth Star-Telegram PoliTex Blog    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Sen. John Cornyn, still reeling from an under-performing election for the GOP, is nonetheless looking a little better to be Senate Minority Whip. His presumed rival, Sen. John Thume, R-S.D., said today, according to Roll Call, that he's going to re-up for another run to be GOP conference chairman. More

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Perry renews fight against 'sanctuary cities'
Amarillo Globe-News    Share    Share on FacebookTwitterShare on LinkedinE-mail article
As state lawmakers began pre-filing bills, opponents of state-based immigration legislation said that a U.S. Supreme Court decision upholding a tenet of a controversial Arizona law would not automatically pave the way for Texas' "sanctuary cities" bill to pass. The bill, which Gov. Rick Perry twice placed on his list of emergency items in 2011, would have denied state funds to local or state entities that prevented their law enforcement officers from inquiring into the immigration status of a person arrested or detained. It failed to pass both times. More

In first day for bills, lawmakers file more than 230
Austin American-Statesman    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Texting while driving would be banned statewide, full-day pre-kindergarten would be restored and children targeted by identity thieves would get protections under the dozens of bills filed for the legislative session that begins in January. On the first day bills could be filed, legislators took the opportunity to frontload their most pressing issues. In the Senate, 100 bills were filed. In the House, the bill tally was 131. More

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Late-payment rate on mortgages declined in 3rd quarter
The Associated Press via U.S. News & World Report    Share    Share on FacebookTwitterShare on LinkedinE-mail article
U.S. homeowners are doing a better job of keeping up with their mortgage payments, aided by an improving housing market and low interest rates that are making it easier to refinance. The percentage of mortgage holders at least two months behind on their payments fell in the third quarter to 5.41 percent, the lowest point in more than three years, credit reporting agency TransUnion said. More

Perry: Talk of 2016 presidential bid premature
Austin American-Statesman Postcards Blog    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Given Mitt Romney's defeat, questions about Gov. Rick Perry's 2016 presidential ambitions were inevitable as the governor stepped before a gaggle of reporters. But Perry, who has a lot of experience coyly denying that he will seek higher office, dismissed such questions as premature and noted that "2016 is multiple lifetimes away." More



Texas lawmaker wants more done to protect students
The Associated Press via Bryan-College Station Eagle    Share    Share on FacebookTwitterShare on LinkedinE-mail article
A West Texas legislator has filed a bill that could lead to prison time for manipulating and falsely reporting education data to state officials. Sen. Jose Rodriguez of El Paso filed the bill in Austin in the aftermath of the El Paso Independent School District testing scandal. More

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State commission approves speed limit increases to 75 mph on many Coastal Bend roadways
Corpus Christi Caller-Times    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Travel times could get shorter in the Coastal Bend after the Department of Transportation greenlighted raising the speed limit to 75 mph on more than a dozen area roads. After a study this year, transportation officials voted to raise speed limits on several Texas highways including Interstate 37 between San Antonio and Nueces County. Last month, the Texas Transportation Commission also voted to raise speed limits on many rural roads, including those spanning more than 475 miles through nine Coastal Bend counties. More

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El Paso downtown mixed-use plan depends on demolitions
El Paso Times    Share    Share on FacebookTwitterShare on LinkedinE-mail article
City Council is expected to decide whether to allow the demolition of two downtown buildings designed by El Paso architect Henry Trost in the early 1900s. Although the buildings are not registered as state or national historic landmarks, the Historic Landmark Commission believes they are an important part of El Paso history. More

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Deep cuts proposed for TEXAS Grants
San Antonio Express-News    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Future Texas college students who receive grants under the largest of the state's financial aid programs would see those awards cut nearly in half so more students can receive them, the state agency overseeing higher education recommended. Reducing individual TEXAS Grant award amounts and tightening eligibility requirements are on the legislative wish list of the Texas Higher Education Coordinating Board, along with charging higher tuition for unnecessary credit hours to reduce the amount of time students spend getting a degree. More

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F1 attracts Fortune 500 brand marketers
Austin Business Journal    Share    Share on FacebookTwitterShare on LinkedinE-mail article
The Formula One U.S. Grand Prix has attracted an exclusive event to Austin that will bring in about 75 brand marketers from Fortune 500 companies. The invite-only Brand Innovators Summit is an educational and networking event that is scheduled to coincide with notable events in major cities across the United States, such as Fashion Week and Advertising Week in New York. More



Rep. Perry to help develop financial gridlock plan
Lubbock Avalanche-Journal    Share    Share on FacebookTwitterShare on LinkedinE-mail article
State Rep. Charles Perry will serve in a panel that will recommend ways the state can prepare for possible tax increases and spending reductions if the gridlock in Washington continues, House Speaker Joe Straus said. "Washington isn't working but the Texas House is," Straus said in a statement announcing the creation of the Texas Response to Federal Sequestration Committee. More
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