- Houston a top ‘brand’ city in the U.S.
The Resonance Consultancy 2016 U.S. Place Equity Index report is out and it reveals that Houston is in the top list of US cities that is a ‘brand’ city. According to the report, a brand city is important as it gives out an image to the public as to what kind of city it is. In the report, Houston is currently at rank 7 overall in the country while it ranks 7, 8 and 9 respectively for the factors of product, programming, and promotion. Bayou City also gotten in the rankings as number 17 and 18 respectively for prosperity and people. Dallas, Austin and San Antonio were also included in the rankings as number 15, 23 and 29 respectively.
Read more about this here: Houston a top ‘brand’ city in the U.S.
- Denver co. inks deal with Houston energy firm for $980M
Riverstone Holdings LLC is currently in discussions with SM Energy Co. to sell Rock Oil Holdings LLC for $980 million. Once the deal is set, it would boost SM Energy holdings in the known oil field of Permian Basin as Rock Oil currently controls 24,783 acres in the area. According to the estimates of Bloomberg, if the deal is finalized, each acre is worth $39,543 and SM Energy can start its operations by October. They will also control 46,750 acres in the Permian Basin, making them the largest firm in the area.
The deal is expected to be finalized in October.
Read more about this here: Denver co. inks deal with Houston energy firm for $980M
- COO for top Houston tech company steps down
Some changes are currently reported in Pros Holdings Inc. as their COO Blair Crump has stepped down from the company. Crump became a part of Pros in 2014 after serving as the president of Salesforce.com. Pros’ CEO Andres Reiner thanked Crump for his contributions to the company in a statement released regarding Crump’s departure and they hope that he will be successful in his next venture. The company has also announced that they do not have immediate plans as to who can replace Crumps as the COO of the company. No word has been released from Crump’s part as to where he will be moving to next.
Read more about this here: COO for top Houston tech company steps down
- Calpine to close Houston-area power plant
Natural gas producer Calpine recently announced that it will close down their Houston power plant by the summer of 2018. According to the company’s announcement on July 29, they will be closing the power plant due to the increasing expenses with regards to its maintenance and the lack of support from the Texan government. The company is also starting negotiations with their counterparts as to when they could officially retire the plant before the summer of 2018. The announcement regarding the plant’s closure was done when the company’s earnings report for the second quarter was released, revealing a $29 million loss and operating revenue loss.
Read more about this here: Calpine to close Houston-area power plant
- Exclusive: Houston architecture firm expands statewide
Houston’s Abel Design Group is on full steam when it comes to its expansion plans throughout Texas as it will be offering its services in Austin. The Austin office will be open this fall and according to the company, they hope to employ 20 employees in the office. Currently, the details as to where the offices will be located is still uncertain. This move by the architecture firm is the first move outside Houston where it has 40 employees and considered one of Houston’s fastest rising companies. The firm has also worked with various Houston establishments such as Landry’s Inc. Mastro’s Steakhouse and many others.
Read more about this here: Exclusive: Houston architecture firm expands statewide
- South African restaurant Peli Peli to expand outside of Houston for first time
One of Houston’s well-loved restaurants will be expanding its presence outside the city for the first time as Peli Peli, a known South African restaurant will be opening a branch in downtown Austin according to reports given its growth. According to the representatives of the landlord where the new Peli Peli branch will be opened, the restaurant will introduce a new concept to the already unique Austin vibe. The CMO of Peli Peli Thomas Nguyen said in a statement that Austin is a very important part in their life as it is where they learnt how to embrace diversity and make an impact at the same time.
Read more about this here: South African restaurant Peli Peli to expand outside of Houston for first time
- Houston energy co. sells part of Italian business involved in internal investigation
Exterran Corp. has made an announcement regarding their Italian business as they announced on August 8 that they sold the Belleli Energy Critical Processing Equipment to Tosto since August 1st. The full detail of the deal is not disclosed, but Exterran will remain in control of Belleli Energy CPE’s main company Belleli Energy S.r.L or Exterran Italy s.r.l. According to the company’s CEO Andrew Way, the selling of Bellelli was done in order to concentrate in the company’s main sectors and boost the quality of their portfolio. They also used some of the funds from the sale to pay their debts.
Read more about this here: Houston energy co. sells part of Italian business involved in internal investigation
- Exclusive: International law firm to move Houston office to 609 Main
One of the most notable law firms on international law, the Hogan Lovells US LLP, has signed a lease agreement to move into a larger office in 609 Main by spring 2017. The law firm currently has 30 lawyers, but once it moves to their larger offices, they are likely to increase their numbers by up to 40 lawyers. The firm’s new offices will start construction work by October and it is expected that the firm will officially move by April 2017. The building where the new offices for the law firm will be located also has other known tenants like United Airlines and the Kirkland and Ellis LLP law firm.
Read more about this here: Exclusive: International law firm to move Houston office to 609 Main
- Houston data center market stymied by low oil prices
Seems the ailing oil and gas industry of Houston is currently causing problems for other sectors as the Houston data industry is also experiencing problems. According to the JLL report, Houston’s data centers are currently experiencing a slowdown when it comes to their supply absorption rate. The group also reported that there are no new companies and companies expanding the current data market. There is also the fact there is a refresh period for each data center and the problem with electricity is adding to the crisis in the market. Luckily, there are still data centers being built in Houston today which will help in the competition in the market.
Read more about this here: Houston data center market stymied by low oil prices
- Houston Chronicle parent co. buys 24 local community newspapers
New York’s Hearst Corp has recently bought additional companies to add in its roster and it is the Houston Community Newspapers and Media Group originally owned by 1013 Communications. While there is no disclosed figure with regards to how much the deal is, Hearst Corp now has 23 weekly papers and the daily publication ‘The Courier’. Once under Hearst Corp, these papers will now report to the Chronicle Editor Nancy Barnes. These publications can reach the northern areas of Houston and according to their estimate, they have 1.4 million readers. These community papers were originally owned by ASP Westward before it was sold in 2012 to 1013 Communications.
Read more about this here: Houston Chronicle parent co. buys 24 local community newspapers