Austin Business News - Local Austin News | Austin Business Journal

San Marcos seeks applicants for $572K in grant funds

Thu, 09 Feb 2012 20:48:44 +0000

San Marcos will soon be accepting applications for approximately $572,000 in U.S. Department of Housing and Urban Development grant funds for projects that benefit low- to moderate-income residents. Project categories for the 2012 Community Development Block Grant program will include housing, public facilities, transportation, infrastructure and public service projects. The application period for interested organizations is Feb. 13 to March 23. The grant funds will be available after Oct. 1. The city of San Marcos is holding a workshop to obtain feedback on the proposed uses for the grant funds on Feb...(image)

Austin awarded $163K to enforce fair housing laws

Thu, 09 Feb 2012 20:48:33 +0000

(image) The city of Austin’s Equal Employment and Fair Housing Office has been awarded $163,704 in grants to enforce fair housing laws and educate communities about housing rights. The funds are provided through the U.S. Department of Housing and Urban Development’s Fair Housing Assistance Program, which is also working to promote the department’s new Equal Access to Housing regulation. A total of $7.5 million in grants was awarded to state and local governments, including $113,900 to the Texas Workforce Commission’s Civil Rights Division...(image)

House approves STOCK Act barring insider trading by lawmakers

Thu, 09 Feb 2012 20:26:02 +0000

Legislation that clearly states insider trading by members of Congress is illegal sailed through the U.S. House of Representatives in a 417-2 vote Thursday. The only two "no" votes on the Stop Trading on Congressional Knowledge (STOCK) Act were from Reps. John Campbell of California and Rob Woodall of Georgia, both Republicans, The Hill reports. Though the House bill doesn’t contain Senate language on political intelligence gatherers, Republicans stressed that the bill is stronger than the Senate version in different ways...(image)

Austin records nation’s sixth-highest retail job growth

Thu, 09 Feb 2012 20:22:02 +0000

(image) Austin added 2,700 retail jobs between 2010 and 2011, the sixth-highest retail job increase in the U.S. Houston and Dallas-Fort Worth were ranked in the top five, adding 6,700 and 5,400 jobs, respectively. New York City took the top spot, adding 11,300 jobs in the same time period. In total, Austin recorded 84,500 retail jobs in 2011, according to an analysis of U.S. Bureau of Labor Statistics data by the Business Journals’ On Numbers. Most of the 100 largest U.S. markets increased their retail employment levels between 2010 and 2011, but 24 markets declined...(image)

Bank deal yields $287M to Texas homeowners, $141M to state

Thu, 09 Feb 2012 20:16:02 +0000

(image) Texas Attorney General Greg Abbott said Thursday the state and federal governments’ $26 billion settlement with five large U.S. banks yielded $428 million for Texas — with $287 million targeting homeowners. The settlement involved Ally Financial Inc. (NYSE: ALLY-PB), Bank of America Corp. (NYSE: BAC), Citigroup Inc. (NYSE: C), JPMorgan Chase & Co. (NYSE: JPM) and Wells Fargo & Co. (NYSE: WFC). Texas was one of eight states that benefited from the settlement. According to The Wall Street Journal, the $26 billion settlement is the largest deal between the government and the private sector since a 1998 agreement with the tobacco industry...(image)

Doerr added to T3’s NY office

Thu, 09 Feb 2012 20:01:49 +0000

(image) Advertising agency T3 has named Rick Doerr senior vice president and managing director of its New York office. Doerr was previously managing director for BBDO Hong Kong’s South China operation and regional business director for Asia. T3 President and CEO Gay Gaddis said Doerr is a good fit for the agency’s “think tank model.” “His diverse international client experience and passion for the industry is valuable across the T3 organization,” Gaddis said. T3 is an independently-owned advertising and marketing agency with offices in Austin, New York and San Francisco...(image)

Pioneer Green Energy snags $11M in funding for wind projects

Thu, 09 Feb 2012 19:37:32 +0000

(image) Green energy venture Pioneer Green Energy has secured $11 million in financing to develop wind projects across the U.S., officials said Thursday. The Austin-based company said the funds, from an undisclosed investor, increase its total capital raised to $20 million, fully funding Pioneer’s wind development pipeline. Pioneer is led by former Renewable Generation Inc. President Andy Bowman. “The country needs more inexpensive renewable energy, and we are fortunate to be working with investors that see the opportunity for growth in renewable energy, perhaps even surprising growth, over the next 2-3 years,” Bowman said in a release...(image)

Thermon profit, revenue up in Q3

Thu, 09 Feb 2012 19:04:33 +0000

Thermon Group Holdings Inc. posted a third-quarter profit of $6.9 million, an increase on the $3 million profit during the same three months in last year. The San Marcos-based company (NYSE: THR), which provides thermal supplies to energy, chemical processing and power generation industries, reported $68.8 million in revenue for the three months ended Dec. 31, an increase from $64.9 million revenue during the same three-month period in 2011. Thermon reported shares earning about 23 cents each, up from 14 cents during the same time last year...(image)

Convio Q4 profit shoots up

Thu, 09 Feb 2012 18:04:35 +0000

(image) Austin-based Convio Inc., which recently agreed to be acquired by Blackbaud Inc., reported a $12.5 million profit on $20.4 million in revenue for the fourth quarter, a jump from a $65,000 profit on $16.9 million revenue for the same period last year. The software maker, which develops applications for nonprofit organizations, reported shares earning 64 cents during the quarter ended Dec. 31, a 100 percent increase from the same three months in 2010. For the full fiscal year 2011, Convio (Nasdaq: CNVO) posted a net income of $14...(image)

Emergency Service Partners selected to run free-standing ERs

Thu, 09 Feb 2012 17:24:00 +0000

(image) Christus Santa Rosa, a San Antonio-based hospital system, has selected Emergency Service Partners L.P. to manage its new free-standing emergency departments in San Antonio and New Braunfels. Under an agreement, Christus hired Austin-based ESP to staff and provide medical management for the emergency rooms. Christus is opening an 11,000-square-foot building located in northwest San Antonio, and a 12,000-square-foot New Braunfels location, just east of I-35 on FM 306. Each free-standing emergency department — a new model for Christus — will provide 24-hour emergency medical services...(image)

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