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HBJ News
Friday, January 20, 2017
Texas added an estimated 210,200 jobs in 2016, according to the Texas Workforce Commission, but the Houston metropolitan statistical area ended 2016 with a higher unemployment rate than the year before. Meanwhile, job growth in Texas is slowing, said PNC economist Kurt Rankin. Growth in 2016 was more than 2015 but far less than previous years. 2015: 175,700 jobs added 2014: 297,000 jobs added 2013: 361,000 jobs added "It doesn't mean that things are going poorly, but it does mean that those gains…
Friday, January 20, 2017
New regulations on master limited partnerships released Jan. 19 by the Department of the Treasury don't list all activities allowed under the MLP structure, something that was included in the unpopular original proposal in May 2015. While the proposed regulations in 2015 weren't law, they did raise concerns around the viability of MLPs that performed activities not included on the list, said Mike Bresson, a partner at the Houston-based law firm Baker Botts LLP. "That affected the value of their…
Friday, January 20, 2017
A new-to-Texas hotel chain is planting its flag in Houston at a $500 million mixed-use development near Buffalo Bayou Park. Thompson Hotels, a New York-based luxury hotel chain, plans to build the Thompson Houston at Tianqing Real Estate Development LLC and Houston-based DC Partners' mixed-use development at the southeast corner of Allen Parkway and Gillette Street, a hotel spokesperson said in an email. A construction timeline wasn't provided, but DC Partners CEO Roberto Contreras said in June…
Friday, January 20, 2017
Austin-based Pluckers Wing Bar has picked out its fourth Houston-area location, just a few months after opening its second and announcing its third. The fourth Pluckers will be at the northeast corner of Skinner Road and Highway 290 in Cypress, northwest of Houston. It’s slated to open in 2018. The new location will serve Pluckers' traditional menu, including its famous wings, homemade sauces and fan favorites like the Holy Macaroni and the Bypass Burger. Pluckers opened its first Houston location…
Friday, January 20, 2017
Stabilizing oil prices, a rising rig count and OPEC production cuts prompted Houston-based Keane Group's (NYSE: FRAC) decision to have an initial public offering, eliminating about $150 million in debt. "That's created substantial increases in E&P capital budgets, which has created an increase in drilling and an exponential demand on our services" CEO James C. Stewart said. That, combined with the fact that very few oil field service companies were able to have IPOs as the downturn stretched on,…

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