7 posts categorized "Executives"


DFW small business owners cautious in Bank of America survey

North Texas small business owners surveyed by Bank of America in March were a little less optimistic than their national counterparts, with only 56 percent anticipating revenue increases in the coming year compared to 68 percent nationally . But they plan to keep at it, with 63 percent expecting to work beyond age 65 and two-thirds of those saying they’ll keep working because they like it and don’t want to stop. They tend to put in the hours. But the majority feel they can balance work and life through an average 49-hour work week. When it comes to work-life balance, three in four (76 percent) feel they have made personal sacrifices for their business, and their most common regret is not spending enough time with loved ones (34 percent).

The biggest worry among area business owners surveyed by the bank was healthcare costs, cited by 70 percent and 66 percent citing the effective of government leaders. About three-quarters of the U.S. respondents mentioned those issues, with another 70 percent concerned about higher commodities prices. DFW owners are fairly cautious about the area economy, with just half looking for growth in the coming 12 months. 

-- Jim Fuquay



THR's Hawthorne named to Texas Business Hall of Fame

Doug Hawthorne, CEO of Arlington-based Texas Health Resources, will be among the 2014 inductees into the Texas Business Hall of Fame. Hawthorne has headed THR since 1997, when it was created by the merger of Fort Worth-based Harris Methodist Health System and Dallas-based Presbyterian Healthcare Resources, which Hawthorne led at the time. At the time THR had 16 acute-care hospitals and $1.8 billion in assets. Today THR has 17 acute-care hospitals, eight other inpatient hospitals and $6.1 billion in assets. The Business Hall of Fame called it "one of the largest faith-based, nonprofit health care delivery systems in the United States." In January Hawthorne announced that he intended to retire by year's end.

Other inductees are formerly Secretary of Commerce Donald Evans, Dallas banker Gerald J. Ford, Dallas oilman Trevor Rees-Jones, Dallas pipeline executive Kelcy Warren and the late Harold Simmons, a Dallas investors who died in 2013. The induction ceremony is set for Nov. 5 in Dallas. 

-- Jim Fuquay


Alice Walton, Basses prominent on Forbes list of richest Americans

Alice Walton, daughter of the late Wal-Mart founder Sam Walton, ranks No. 8 on the new Forbes 400 list of the wealthiest Americans. She's also the richest Texan by the magazine's estimate, with a net worth of $33.5 billion. Walton has a home in Fort Worth and a ranch in Millsap. The magazine, in a story focused on her art collecting, describes her living arrangements like this:

"She spends the majority of her time at her Rocking W Ranch an hour west of Fort Worth, Tex., in tiny Millsap (pop. 409), where she breeds cutting horses and cooks her famous beans and rice for her ranch family, as she calls her live-in staff. She’s never had any kids, but speaks fondly of her 23-year-old horse trainer, Jesse Lennox, and loves watching him compete."

Every other Fort Worth name on the Forbes list has a direct tie to the city's Bass family. Those include brothers Robert M. Bass (No. 193, $2.8 billion); Edward and Lee Bass (No. 260, $2.1 billion); and Sid R. Bass (No. 314, $1.8 billion). Tied for No. 209 at $2.6 billion each are Richard Rainwater, who was the family's longtime financial advisor until 1986, and David Bonderman, who was Robert Bass' financial advisor and since 1992 has been a private equity investor.

Also on the list are brothers Dan and Farris Wilks, who founded and sold Fort Worth-based FTS International, formerly Frac Tech. They live in Cisco, where FTS started, and have an estimated net worth of $1.5 billion each, ranking No. 352. FTS moved its headquarters to Fort Worth in 2011.

Prominent Dallas residents on the list are topped by investor Harold Simmons at No. 40 with $10 billion. Dallas Cowboys owner Jerry Jones is tied at No. 166 with Herbert Hunt with $3 billion, Dallas Mavericks owner Mark Cuban checks in at No. 222 with $2.5 billion; and Texas Rangers co-owner Ray Davis is No. 296 with $1.9 billion. H. Ross Perot Sr. is No. 134 with $3.5 billion, and son H. Ross Perot Jr. is No. 314 with $1.8 billion.

-- Jim Fuquay


Higher 2012 profit boosts compensation for top two D.R. Horton execs

Top officers at Fort Worth-based D.R. Horton didn't get a raise in base salary in 2012, but the home builder's chairman and its CEO each saw their total pay increase, according to its latest proxy statement filed Thursday. Chairman Don Horton's total compensation was $5.9 million, and CEO Don Tomnitz's was $5.2 million. Don Horton's total compensation was up 33 percent from a year ago, and Tomnitz' was up 32 percent.

Both executives received sharply higher incentive awards that are based on the company's pre-tax income, which soared from a year ago.  Don Horton and Tomnitz each were awarded 1 percent of the company's $242.9 million in 2012 pre-tax income, or $2.43 million. That was up from $240,798 in 2011, when the company has just $12.1 million in pre-tax income. D.R. Horton's fiscal year ends Sept. 30. 

Those compensation figures are calculated using The Associated Press' formula, which counts salary, bonus, non-equity incentive plan compensation, grants of plan-based awards and all other compensation, as listed on the company's proxy. 

-- Jim Fuquay



Familiar Fort Worth names on Forbes 400 wealthiest Americans list

With the exception of relocating Wal-Mart heiress Alice Walton's residence from Parker County to Fort Worth (mistakenly, as far as we know), the Tarrant area members of Forbes magazine's annual list of the wealthiest Americans are pretty much unchanged this year. Walton is No. 8 on the 2012 list, with a net worth of $26.3 billion. (She listed her residence as 11500 Interstate 20, the address of her 3,200-acre Rocking W Ranch outside of Millsap, in October 2011 when she was charged with DUI on her way home from her 62nd birthday party in Fort Worth.) She's followed by investor Robert Bass (tied at No. 151 with Dallas Cowboys owner Jerry Jones at $2.7 billion), investor David Bonderman (No. 170, $2.6 billion), investor Richard Rainwater (No. 206, $2.3 billion), brothers Ed and Lee Bass (tied at No. 239, $2 billion), and Sid Bass (No. 271, $1.8 billion). All have been on the list for years.

Dallas area residents on the list, in addition to Jones, include banker Andrew Beal, investor Harold Simmons, oilman and real estate developer Ray Lee Hunt, investor Robert Rowling, oilman Trevor Rees-Jones, investor H. Ross Perot Sr., oilman Timothy Headington, Dallas Mavericks owner Mark Cuban, pipeline operator Kelcy Warren, banker Gerald J. Ford, Texas Rangers co-owner Ray Davis, real estate developer H. Ross Perot Jr., investor T. Boone Pickens, telecommunications operator Kenny Troutt, and online media developer Todd Wagner.

The complete list is here.

-- Jim Fuquay



Bob and Anne Bass spend $42 million for New York apartment

Fort Worth billionaire Robert M. Bass and wife Anne have paid $42 million for a co-op apartment in Manhattan that takes up half the 12th floor of its pre-World War II, Upper East Side building, according to New York media reports that cite deed records. According to the New York Observer, the property was originally listed at $34 million including furnishings, and at $42 million would have been the fourth most expensive residence sold in New York City last year.

It would be hard to spend that much on a home in Fort Worth. The Basses' Westover Hills residence, even at 16,500 square feet, is only valued at $8.35 million by the Tarrant Appraisal District. Dallas Mavericks owner Mark Cuban's North Dallas manses checks in at a mere $17.6 million, according to the Dallas Central Appraisal District.

The Basses' new neighbors at the 834 Fifth Ave. property include News Corp. Chairman Rupert Murdoch and Charles Schwab, the founder of his namesake investment company, according to Bloomberg News, which said Bass declined to comment through spokeswoman Marcia Horowitz.

-- Jim Fuquay



Laid-off execs finding jobs at same or higher levels, Right Management data says

Right Management, a career transition arm of Manpower,  says its data show that three of four laid-off executives who received Right Management services and got jobs in the first half this year landed posts at the same or higher levels.

The likelihood of landing a better job was higher for executives in the South, at 76 percent, compared to a 72 percent national average, Right Management said.

The firm analyzed data on nearly 600 senior-level positions, and includes titles such as general manager, director, vice president, senior vice president, executive VP, and CEO.

Right Management tips for executive-level jobseekers in today's market:

  • "Get up to speed fast...Know the priorities and develop a plan for the first 30, 60 and 90 days."
  • "Understand the culture of the prospective employer in advance of the interview."
  • "Highlight in resume and during interviews how interpersonal and work skills will align with the company's culture."

The study was conducted Jan. 1-June. 30.

- Scott Nishimura, jobs and workplace reporter, Star-Telegram


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