Articles for March 9th, 2009

Will The NYSE Delist A.H. Belo?

That’s the question a curious FrontBurnervian asks. The answer is, hold your horses. The company has only been below $1 since March 2. Theoretically the average price of a NYSE company must remain above $1 for 30 days. If it doesn’t, the exchange notifies that company and gives it six months to meet the threshold. That’s plenty of time to merge classes of stock or do something else to get the price up, so it’s unlikely. That’s the good news. The bad news is today A.H. Belo was kicked off the S&P SmallCap 600 (it was # 600).

Hockey Scoop on InsideCorner

Way to go, Jeff Miller.

Rojas Forsaking Hispanic Chamber For Kansas GOP

Sort of a shocker over at the Greater Dallas Hispanic Chamber of Commerce, where CiCi Rojas, the group’s president and CEO, has announced her resignation. Seems Rojas is returning to her native Kansas, where she’ll serve as executive director of the Kansas Republican Party. The GDHCC, meantime, has embarked on a search for a permanent replacement.

Behind the Scenes at the Dallas Center for the Performing Arts

Eric Celeste, Doug Curtis, Willard SpiegelmanA few of us just returned from a cool field trip to the Dallas Center for the Performing Arts construction site, where a guy named Doug Curtis took us on a hard-hat tour. Curtis is the vice president of design and construction for the DCPA, meaning he knows a thing or two about a thing or two. They’re going like crazy down there, about 600 guys working on both the Winspear and Wyly. Yes, North Texas needs some rain. But these guys would be happy to have things stay dry a bit longer. The whole joint is scheduled to open in October.

Here you see pictured, from left, Eric Celeste, Doug Curtis, and friend of the show Willard Spiegelman. Want more photos? Of course you do. For now, you can jump. And before too long, the greatness that is Kyle Kearbey will have a video for your eyes.

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Rawlins Gilliland Upstages Savor Dallas

Oh, that naughty boy.

Star-Telegram to Become an Edition of DMN?

An alert FrontBurnervian points us to this story from Time: “The 10 Major Newspapers That Will Either Fold or Go Digital Next.” No. 9 on the list is the Star-Telegram, which Time apparently thinks still has the words “Fort Worth” (but not a hyphen) in its moniker.

The Fort Worth Star Telegram is another one of the big dailies that competes with a larger paper in a neighboring market — Dallas. The parent of The Dallas Morning News, Belo, is arguably a stronger company that the Star Telegram’s parent, McClatchy. The Morning News has a circulation of about 350,000 and the Star Telegram has just over 200,000. The Star Telegram will have to shut down or become an edition of its rival. Putting them together would save tens of millions of dollars a year.

There are a couple of things that strike me about that. First, the parent company of the DMN is AH Belo, not Belo. Second, AH Belo isn’t in a position to acquire a decent Metro columnist, much less another newspaper. Third, people in Fort Worth won’t stand for an edition of the DMN. Anyone who has spent time in Fort Worth (I’m looking at you, Eric) knows how different that place is from Dallas.

D CEO A Finalist In National Magazine Competition

Not to toot our own horn, but–wait, yes I will toot our own horn. Just learned that D will be represented by D CEO magazine in the 24th annual National City and Regional Magazine Awards competition. D CEO, which is D’s business publication, was nominated as one of three five finalists in its category, called “ancillary publications.” Texas Monthly led the pack this year with multiple nominations in a variety of categories. The iron will be handed out at the annual conference of the City and Regional Magazine Association May 30-June 1 in New Orleans.

Marty Cortland Rankles Area Certified Financial Planners

In the January issue of the “print product,” the inimitable Marty Cortland delivered some financial advice, the thrust of which was: get out of the market and pay down any debt you have. Our good friends at the Dallas Fort Worth Financial Planning Association thought the advice was short-sighted. The group’s president, the ever-amiable Mark McClanahan, asked for equal time. His response to Marty comes after the jump:

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Jeb Hensarling Fights The Good Fight — To Save The GOP From Itself

Hensarling continues to try to eliminate earmarks, and his GOP colleagues keep fighting to keep them. Earmarks are a tiny percentage of the federal budget, but they are the most egregious example of waste in government spending. They lead to corruption, special-interest pandering, and stupid projects. According to the Center for Media and Democracy:

The 1970 Defense Appropriations Bill had a dozen earmarks; the 1980 bill had 62; and by 2005, the defense bill included 2,671. Among the earmarks in the 2005 bill was money to eradicate brown tree snakes in Guam. Similar increases are seen in the history of the Transportation Appropriations Bill. When President Dwight Eisenhower proposed the first national highway bill in the 1950s, there were two projects singled out for specific funding. In August 2005, when Congress passed a six year, $286.4 billion Transportation Bill, there were 6,371 earmarks, ranging from $200,000 for a deer avoidance system in Weedsport, New York to $3 million for dust control mitigation on Arkansas’ rural roads. In all, there were roughly 15,000 congressional earmarks in 2005 at a total cost of $47 billion.

Note that in 2005 Republicans controlled Congress. And Jeb Hensarling was fighting even then to rein them in. After the GOP lost control of the House in 2006 — which even Karl Rove attributed to out-of-control spending — you’d think they would have learned. But no. If there is one issue on which a clear, bright line could be drawn between Democrats and Republicans, it could be earmarks.  But as a friend of mine says, “The Democrats are the dangerous party. I, on the other hand, belong to the stupid party.”

Dallas Receiver Moving Fast On Stanford Bust

Ralph Janvey is the Dallas attorney appointed to figure out what to do about the Stanford Ponzi scheme. He isn’t wasting any time. On Friday, he fired 1,000 Stanford employees to conserve investors’ cash. Today he’s unfreezing the accounts of investors with $250,000 or less so they can transfer their funds.

Leading Off (3/9/09)

1. There are good columns to be written about the inland port saga. This is not one of them.

2. Two condo owners suing SMU over the Bush Library are now trying to get depositions from the former prez and his wife. I’ve been trying for several minutes to stick the landing on a joke, but nothing’s working. Figure it out for me in the comments.

3. Plano police are trying to figure out if an incident caught on a Wal-Mart security cam was a kidnapping or a prank. My gut reaction is prank, but it’s Plano, so who knows? UPDATE: It was a hoax.