Out of 26 million Texans, you may have an idea to change the world. You may have had several ideas to change the world. But only a tiny minority of you pushed through the U.S. Patent office from application to successful patent. We've seen Texans change the world many times over. Jack Kilby did it with Texas Instruments in 1958 with the integrated circuit, causing the start of the digital revolution, which, in part, is why you can read these words over your electronic device.
Over the last few years, Texas Business has brought its feature: Texas Business Patent of the Day. This list is of the ones that were either extremely clever, odd or strange. One thing becomes apparent from these patents and the patent that runs daily in Texas Business—Texans have a unique mind set.
Though the history of the Corn Dog is disputed, the State Fair of Texas claims to have introduced the Corny Dog sometime between 1938 and 1942. As a paean to that invention that now sits in the freezer section of every grocery store in the southwest, here are the fried foods the State Fair of Texas has introduced, or tried to introduce, in the last seven years.
Don't get caught up with John Wayne religion. For one thing, he's not Texan. He's in some fine movies involving Texas, most notably The Searchers, but none of his movies can make the best cut of Texas movies. Here's the short list.
Unsung Texas Business Journalists Mention that one is a reporter, and there's a spark of interest. Mention that one is a business news reporter, and watch the eyes glaze over. Except to the players, business and economic journalists are unappreciated. While many wish to become sports reporters when they grow up, most do not realize that business journalists cover the Real Game. Mention that reporter covers business, and watch the eyes glaze over. A toast to these below on the short list and the numerous unnamed ones slogging away. Full Story » TexasBusiness.com
Best Texas Mexican Food: The Short List No, we're not going to debate the difference between Tex-Mex, Mex-Tex, Mexican and Texican food. Just know these establishments are the pinnacle of Texas Mexican fare. No brag, just fact. Full Story » TexasBusiness.com
Best Texas Burgers Texas Burgers. . While a hamburger is merely sustenance and gratification for a meal, the memory a good Texas burger can give rise to Homeric odes. The short list. Full Story » TexasBusiness.com
Texas Business reports: HOUSTON and KEMAH, Texas—Delta Seaboard International Inc. and American International Industries Inc. sold Delta's wholly-owned subsidiary, Delta Seaboard Well Service, Inc. to Delta Seaboard LLC, ( Delta LLC) an entity controlled by Delta president Robert Derrick Jr. and Delta vice president Ron Burleigh.
The total consideration paid to Delta and American is $4,075,000, represented by $1.6 million in cash, $1.4 million evidenced by a 5 year, 5% secured and guaranteed promissory note payable to Delta and the delivery to American of 31,925,832 shares of Delta common stock valued at $1.075 million which shares represent 45% of Delta's outstanding shares at December 31, 2011.
Notwithstanding its five-year term, the note will be paid prior to maturity, upon the sale of 3.2 acres of land on which DSWS' place of business is located.
The divestiture of DSWS, which was approved by board and majority stockholders of Delta, will increase American's ownership interest in Delta from approximately 45% to 91.4%.
At December 31, 2011, DSWS had a net book value of $2.6 million; the sale of DSWS resulted in a gain to Delta of approximately $1.4 million and to American of approximately $1.2 million. The exact amount of the gain will be subject to adjustment based upon the actual book value at the date of closing, which took place on April 3, 2012.
Delta will receive additional consideration equal to the amount that Delta LLC receives from the planned sale of the 3.2 acre property in excess of $3 million. This property is currently being offered for sale for $4.25 million, which both Delta and American believe is the fair market value of the property.
DSWS has been in the oil and gas service business for more than thirty years.
“The decision by the board of directors of Delta and American to sell DSWS was to substantially increase its cash position, to repurchase its shares on the open market since the company's liquidity is more than its market cap and to be able to explore several investment opportunities that exist utilizing the proceeds from this transaction, which we believe will be in the best interests of the shareholders of Delta and American, said DSWS chief executive Daniel Dror.
American International Industries, Inc. is a diversified holding company of subsidiaries with interests in the automotive and consumer retail industry, real estate, oil well site supply and services, intellectual property, and the acquisition of petroleum resources in the United States, coupled with international exploration.
The Texas News Scrawl is a handy reference to stories Texas Business recommends from other news sources. Some of the stories that Texas Business currently suggests include: The West News proves the value of a great weekly newspaper in a community torn up with grief and chaos; Chinese investors checking out Texas, Austin; Texas makes bounce house operators carry liability coverage, but not plants like West Fertilizer; bSpaceX’s Grasshopper leaping to NM spaceport;American Airlines, US Airways to name post-merger leadership within weeks; Texas power cushion seen at lowest level in a decade; Media outlets reflect Houston's diversity; and more.