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Dallas Fed's Fisher, Philadelphia Fed leaders to retire in 2015

WASHINGTON — The outspoken president of the Federal Reserve Bank of Philadelphia will step down in March, shortly before the central bank is expected to raise interest rates for the first time since the recession, the regional bank said Monday.

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Ex Rangers manager Washington apologizes for 'breaking wife's trust'

IRVING, Texas (AP) — Former Texas Rangers manager Ron Washington says he is embarrassed for 'breaking his wife's trust.'

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Troubled RadioShack files SEC form, talks with 'major vendor'

RadioShack Corp.’s latest filing with the U.S. Securities and Exchange Commission describes recent discussions that “could be beneficial to the financial restructuring of the company.”

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REIT plans demolition of Fort Worth's Westchester Plaza, mixed-use redevelopment

The developer is seeking a $3.8 million reimbursement from the Southside tax increment finance district.

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Road Show: City leaders prepare campaign to corral votes for $450 million arena

Fort Worth’s biggest backers of a new arena at the Will Rogers Memorial Center are leaving little to the chance of a “no” vote in a citywide election Nov. 4 to decide on new fees that would fund 15 percent of the $450 million project.

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BAE to hire 300 in area for F-16 upgrade program

 

F-16 jets in flight. Photo courtesy of BAE Systems.

www.baesystems.com

 

BAE Systems Inc. plans to hire about 300 workers, many at its Fort Worth facility, to support upgrades on 130 F-16 aircraft via an agreement between the Republic of Korea and the U.S. government.


The Arlington, Va.-based company, the U.S. subsidiary of British-based BAE Systems plc, is beginning the first phase of the work under contract through the U.S. Department of Defense’s Foreign Military Sales program. While no price for the contract was released, The Guardian newspaper reports the contract is valued at about $1 billion.
 

“This agreement marks a significant expansion of our F-16 modernization business, and we’re eager to get to work,” said Erin Moseley, president of BAE Systems’ Support Solutions sector in a news release. “When we were chosen by the Republic of Korea last year, it showed that we are a viable and experienced provider of fighter jet upgrades and systems integration. As demonstrated by today’s important milestone, we offer cost-effective modernization solutions, customized to meet any country’s requirements.”


Under terms negotiated by the U.S. Air Force and the U.S. Defense Security Cooperation Agency, BAE Systems will upgrade 130-plus KF-16C/D Block 52 aircraft, with computers, displays, sensors and weapons and associated equipment, training, and logistical support. Phase one of the work will begin immediately and will involve the initial design and development of the upgrade solution. Phase two of the work would begin next year and would complete the production and installation of the upgrade kits in all of the aircraft over the next several years.
The work to upgrade the KF-16 fleet will be performed primarily at BAE Systems’ facility in Fort Worth, but other company sites in Florida, New York, California, and Virginia will also be involved. - Robert Francis

 

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