Best Texas Songs: The Short List If you're new to Texas, you better know Texas music. If you grew up in Texas and you don't know at least these or Pat Green, Dixie Chicks or T Bone Burnett, may a horned toad snuggle in your boots and a Texas tarantula crawl across you when you sleep. Full Story » Alan Nelson
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: GLASGOW, Scotland—The Weir Group PLC plans to acquire Novatech LLC, a US manufacturer of well service pump valves and valve seats for upstream oil and gas applications, for $176 million in cash.
The consideration will be funded from existing bank facilities. The acquisition is in line with Weir's acquisition criteria and is expected to be immediately earnings accretive with post tax returns expected to exceed Weir's cost of capital within the first full year of ownership.
Subject to US regulatory approvals, completion of the acquisition is expected in February 2012.
Based in Dallas, Novatech, a family-owned business, produces a wide variety of proprietary valves and valve seats for high pressure applications such as frac, cement and mud pumps used in unconventional upstream oil and gas operations.
The business is well known to Weir, being a long standing local supplier to Weir SPM. Novatech achieved proforma revenues and EBITDA of $61.2 million and $25.2 million respectively for the most recent fiscal year ending 30 September 2011, with associated annual revenue growth of 88%.
Positive trends continued in the final quarter of calendar 2011. Approximately 90% of revenues are generated from aftermarket demand.
Novatech's range of durable valves expands Weir's offering in the fast-growing frac pump consumables markets and significantly enhances its frac pump aftermarket portfolio. The acquisition of the Dallas firm enables Weir to:
Offer an enhanced package of aftermarket pump expendables to oil and gas service companies;
Utilise its substantial footprint to provide broader sales opportunities and field service for Novatech products;
Open international markets to Novatech's offering; and,
Enhance productivity through application of Weir's lean processes in production, supply chain and front end.
“Novatech is a respected brand in the US upstream oil and gas markets, with strong market share in the frac consumables market,” said Weir chief executive Keith Cochrane in a prepared statement. “This deal enables Weir to broaden our aftermarket expendable product portfolio in this fast-growing sector, where increasing operating intensities require equipment and components to be more regularly replaced and serviced. With the recent acquisition of Seaboard, this strengthens further Weir's presence in the North American unconventional oil and gas markets and builds a larger upstream product range to offer the developing international shale markets.”
“We have worked with Weir's upstream business as a supplier for a number of years and have come to know the company well and admire the way they operate,” said Novatech chief executive Starr L. Pitzer Jr. in a statement. “Through joining the group, I believe that Weir's global sales and service networks will enable the business to grow, not only in North America, but also by taking Novatech products to international customers.”
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: Texas regulators not aware of potential CFTC manipulation probe,Irving spends incentive dollars to lure two corporate headquarters and almost 2,000 jobs;Hotels, restaurant operators prep for record Final Four;Star-Telegram presses roll one last time; Robert Rodriguez breathes new life into an old vampire favorite; ClubCorp buys Prestonwood Country Club in Dallas and Plano; Office Depot overcharged Dallas by up to $3.6 million, city auditor finds; Texas power market monitor resigns amid unresolved reform debate; and more.