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Posts Tagged ‘economy’

SB6 is already costing us business

There will be lots more of this to come as it advances. Three groups — with meetings estimated to bring $3.1 million in total spending — no longer are considering the Alamo City for their events because of a bill prohibiting transgender Texans from using bathrooms tied to their gender identity, said Richard Oliver, spokesman […]

Global investors against SB6

From the inbox: Led by New York City Comptroller Scott M. Stringer and Trillium Asset Management, a group of some of the largest investors in the world, with a combined $11 trillion of assets under management, today spoke out against Texas Senate Bill 6 (or SB6), a “Bathroom Bill,” as well as similar discriminatory legislation. […]

Houston’s tourism business

People like to spend money here. In particular, people from Mexico like to spend money here. Mexicans are the largest group of international tourists who visit Houston – and recently, their numbers have grown. In 2015, Houston received 2.5 million international tourists, 1.8 million of whom came from Mexico. In 2016, the convention and visitors […]

Politifact muddles the economic debate over SB6

This doesn’t change anything, but we must fuss about it anyway. In what appeared to be an attempt at a show of force, Lt. Gov. Dan Patrick on Monday once again attacked claims that the proposed “bathroom bill” is bad for business in Texas. Flanked by nine Republican senators — including Senate Bill 6 author […]

Dan Patrick and the wall tax

Hey, you know who’s going to pay for Dear Leader’s wall? You and me and everyone else in the country. The Trump administration sparked widespread surprise Thursday by announcing it intended to implement a 20 percent tax on Mexican imports to pay for a coming border wall — followed by extreme confusion when it appeared […]

The Super Bowl economic impact calculators have figured out it’s all a game

They’ve adjusted their methods in anticipation of your criticisms. With less than a month to go before the big day, let no one say that Super Bowl LI — as an economic event, not a football game — has been inadequately forecast. We’ve already seen two studies on the financial boost that the two-week extravaganza is expected […]

Here’s your 2018-19 revenue estimate

It’s pretty mediocre. Facing sluggish economic forecasts amid low oil prices along with billions in tax revenue already dedicated to the state highway fund, Comptroller Glenn Hegarannounced Monday that lawmakers will have $104.87 billion in state funds at their disposal in crafting the next two-year budget, a 2.7 percent decrease from his estimate ahead of […]

What’s going on with Metro’s ridership numbers?

I have no idea what to make of this. Houston’s heralded bus system redesign – garnering kudos from local riders and transit supporters around the country – is running into the reality that nothing can boost transit when fewer people are riding to work. When the Metropolitan Transit Authority revamped its bus system in August […]

Who is paying for public education

The state is paying less, while local districts are paying more. The state of Texas will spend a projected $40.5 billion on public education during the current 2016-17 budget period, and when state officials tell you they’re spending more on education, they’re telling the truth. Not all of the truth, but some of it. Their […]

On welcoming immigrants

Mayor Turner puts out the welcome mat for a key part of Houston’s community. A press conference Monday morning to announce the unveiling of Houston’s Office of New Americans and Immigrant Communities evolved into a denunciation by city officials of President-elect Donald Trump’s rhetoric toward immigrants and refugees. With portraits of Mahatma Gandhi and Martin […]

More on the cost of a bathroom bill

Whatever one thinks of the Texas Association of Business, you have to hand it to them for their lobbying focus on the great potty issue. With the legislative session just weeks ahead, the Texas business community is digging in its heels in opposition to Texas Republicans’ anti-LGBT proposals, warning they could have dire consequences on […]

Judge issues injunction against overtime pay change

Because of cours he did. Millions of low-paid supervisors would have become eligible for overtime pay next week, but a federal judge in Texas blocked that path late Tuesday afternoon, ruling that Congress intended duties, not wages, to determine eligibility for overtime and minimum wage. U.S. District Judge Amos L. Mazzant, sitting in Sherman, issued […]

How much is that bathroom bill worth to you, Danny?

Is it worth $8.5 billion and 185,000 jobs? The Texas economy stands to lose $8.5 billion and 185,000 jobs if anti-LGBT legislation passes in next year’s session, according to an analysis from the Texas Association of Business, the state’s chamber of commerce. The TAB analysis is based on actual or projected losses in four states […]

East End former KBR site sold again

I’d forgotten all about this. When a sprawling tract of land lining Buffalo Bayou east of downtown hit the market three years ago, some of Houston’s most prominent observers of urban development put forth ideas about what could be done with the 136-acre site boasting both water and skyscraper views. Visions for the property included […]

Our bioscience future

Looking bright. Biotechnology continues to grow in Texas, contributing to the state’s overall economy by adding jobs, making strides in research and innovation and last year attracting $1 billion in federal funding for research, a new report on business development from a biotechnology trade association found. As the Texas economy struggles under the weight of […]

Council unanimously passes Turner’s first budget

Good job. Mayor Sylvester Turner achieved his goal of securing unanimous passage of his first general fund budget Wednesday morning, a month ahead of the typical schedule and after an unusually brief and uncontentious discussion of council members’ proposed changes. The $2.3 billion general fund budget, which pays for most basic city services with revenues […]

The state is starting to feel the squeeze

Things are tough all over. The state is facing big problems affecting vulnerable populations that will take significant money to fix at the same time that a slump in the energy industry is chipping into its revenues, House Speaker Joe Straus warned Tuesday. “Writing a balanced and disciplined budget that appropriately funds our top priorities […]

Turner announces his budget

From the inbox: Utilizing a shared sacrifice approach, Mayor Sylvester Turner today unveiled a proposed Fiscal Year 2017 General Fund budget that eliminates a projected $160 million shortfall that was the result of cost increases, voter imposed revenue limitations, a broken appraisal system and the economic downturn. The budget totals $2.3 billion, which is about […]

Have I mentioned lately that the revenue cap is stupid public policy?

Because it is. Sales taxes are Houston’s second-largest source of revenue for the general fund, which pays for most core services. Just as concerning for city officials, however, was more news about the city’s largest general fund revenue source: property taxes. Mayor Sylvester Turner, as he did in February, criticized what he said is an […]

Final Four weekend was pretty good for Houston

We’ll take it. Beyond the basketball court, the Houston economy appears to be the big winner of the Final Four. Across the city, several restaurants, bars and hotels reported big boosts in customers and cash flow, as an estimated 70,000 out-of-town basketball fans arrived for the NCAA men’s basketball championship. Organizers say those fans could […]

Lawsuits and low oil prices

Both are threatening the next Texas budget. Last week, lawyers for the state of Texas got the latest in a string of bad legal news. A lawsuit challenging the state’s foster care system as inhumane appeared to gain steam when an appeals court rejected the state’s request to stop the appointment of two “special masters” […]

We’re still growing

The collapse of the oil boom has not slowed down Texas’ rapid population growth. The Houston area added more people last year than any metropolitan region in the country, continuing its exceptional growth of the last decade and a half, according to new U.S. Census Bureau data released Thursday. Combined, the greater Houston metropolitan area, […]

Prepping for the city budget

Mayor Turner gives a brief preview of what is to come. Mayor Sylvester Turner said Friday that he expects to lay off 40 city employees and eliminate 54 vacant positions as he seeks to close a budget shortfall of as much as $160 million, his first public estimate of the personnel reductions required to balance […]

Now what for recycling?

Sure hope there’s a plan. Houston’s curbside recycling program is in limbo after Mayor Sylvester Turner and City Council rejected a new contract with Waste Management on Wednesday, prompting concern among residents and environmental activists about a potential lapse in service. Such a lapse would come about a year after the city finally expanded its […]

Recycling contract impasse

Uh, oh. The city of Houston’s curbside recycling program could be put on hold after negotiations between Waste Management and Mayor Sylvester Turner’s office reached an apparent impasse over a new contract Tuesday. Though Turner said he remains committed to recycling and his office said he will be “pursuing any and all available options” before […]

RIP, One Bin For All

It had a good run, but at the very least the timing was all wrong. The One Bin For All program would let Houstonians throw all trash in the same bin, to be separated for recycling later. The hope was to push up Houston’s low recycling rate. But now the city could end up with […]

It’s hard out here on a recycler, part 4

It was a bad year last year. Recycling continues to hurt Waste Management’s bottom line, as low oil prices and low commodity prices have made that a challenging business for at least the past year. The Houston company on Thursday reported a decline in revenue and earnings for its fourth quarter and full year in […]

Layoffs are coming

It’s gonna suck, though hopefully not as hard as last time. Mayor Sylvester Turner said Wednesday that a still undetermined number of city employees will be laid off in the coming months, making his first formal acknowledgment that Houston’s projected $126 million budget gap can’t be closed by July without personnel reductions. Though Turner did […]

Meet the woman in charge of prepping Houston for Super Bowl LI

The countdown is on, and the spotlight is already ours. When Sallie Sargent applied to take charge of Houston’s preparations for next year’s Super Bowl, she faced a rather daunting audition: find 11 major sponsors to finish a $25 million fundraising project. “I told Sallie she had six months,” said Ric Campo, the chairman of […]

“Bad, but not awful”

Your Houston economy, folks. As Houston enters the second year of the worst oil downturn in decades, its once-booming economy has sputtered, and the strain finally is starting to show. Houston could flirt with recession in 2016 as the oil and gas industry cuts jobs and spending, but the local economy isn’t collapsing the same […]

Looking back and looking ahead for Mayor-elect Turner

Here’s a Q&A with our new Mayor that looks back on the campaign that just wrapped up. Q: Economically, electorally, this is a divided city. You campaigned on a platform of bringing people together. How do you overcome that split now that you’ve been elected mayor? A: When I woke up this morning, the campaign […]

Chron analysis of how Turner won

I suppose it’s a bit simplistic to say “he got more votes than the other guy”, but one way or the other that’s what happened. Sylvester Turner’s 24-year quest for the mayor’s office was realized by a narrow margin Saturday night, driven by overwhelming support from black voters and a robust effort to push supporters […]

The economy takes its toll on state revenue

Nothin’ but good times ahead, though, right? Transportation funding could take a hit under new revenue projections by State Comptroller Glenn Hegar, who on Tuesday lowered his forecast of state tax collections by $4.6 billion in the face of a volatile oil and gas industry. Hegar’s new forecast still leaves more than enough money to […]

We’re (about to be) Number 3!

In population. By the year 2025. Suck it, Chicago! Hidden in the haze of the petrochemical plants and beyond the seemingly endless traffic jams, a Texas city has grown so large that it is poised to pass Chicago as the third biggest in the United States in the next decade. Houston has been one of […]