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RadioShack sees stock jump on investment report

Fort Worth-based RadioShack saw its stock increase as much as 45 percent on Friday as investor Standard General LP said it was continuing talks on new financing for the electronics retailer.

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Fort Worth couple gets in 'Shark Tank,' comes out with deal

A Fort Worth couple who started a business when they couldn’t sleep, were the first entrepreneurs to get a deal on ABC’s Shark Tank in the season premiere on Sept. 26.

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20 from Dallas-Fort Worth on Forbes wealthiest list

There are 20 Dallas-Fort Worth residents listed among the 400 richest Americans, according to the Forbes 400 list of The Richest People in America 2014.

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Internal audit says EPA mismanaged Fort Worth project

FORT WORTH, Texas (AP) — An internal audit by the U.S. Environmental Protection Agency reveals the agency mismanaged an experiment using new ways to demolish asbestos-ridden buildings.

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Texas Wesleyan acquires two strip shopping centers on East Rosedale

Texas Wesleyan University has purchased two strip shopping centers on East Rosedale Street across from its Southeast Fort Worth campus, the university’s president said Friday.

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National Oilwell Varco considers spinoff

 

HOUSTON (AP) — National Oilwell Varco Inc. said Tuesday that it is exploring a plan to spin off its distribution business to its shareholders as a separate, publicly-traded company.

The new company would provide maintenance, repair and operating supplies to energy and industrial companies.

The spinoff is expected to be finished in the first half of next year. It's subject to market conditions, regulatory approvals, and final board approval. The spinoff does not need shareholder approval, the company said.

After two acquisitions last year, the distribution business "now has the market size and scale to operate as a standalone, world class distribution company," said Chairman and CEO Pete Miller in a statement. He said the standalone distribution group would have 415 locations and operations in 26 countries. The units involved in the spin off would represent about 85 percent of the revenue of NOV's distribution and transmission segment for the six months ended June 30, the company said. That would amount to about $1.64 billion, based on the company's second-quarter report.

"As separate companies, the distribution business and the remainder of NOV will each be better positioned and have the enhanced operational flexibility to focus on their specific products, services and customers," he said.

National Oilwell Varco designs, builds, and sells equipment and components for oil and gas drilling and production, and also provides oilfield services and supply chain services to the oil and gas industry.

Its shares rose $1.99, or 2.5 percent, to $80.50 in premarket trading. The stock closed Monday at $78.50, up about 15 percent since the start of the year.
 

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Arena
What do you think of the new plans for a new Will Rogers arena and changes at the Convention Center?