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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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Texas regents OK Strong contract worth $25M-plus

 

JIM VERTUNO, AP Sports Writer


AUSTIN, Texas (AP) — University of Texas regents on Monday approved a five-year contract for new football coach Charlie Strong worth more than $25 million.

Strong will be paid $5 million in the first year, with an annual $100,000 raise for the coach chosen to succeed Mack Brown. The regents met by phone Monday and approved the contract by a unanimous vote.

Strong, 53, spent the last four years at Louisville and will be the first African-American head coach of a Longhorns men's team. He went 23-3 the last two seasons at Louisville, and was introduced as Texas' new coach Jan. 6.

"We have the right coach on the right terms," Texas President Bill Powers said after the board vote. "I am so excited about coach Strong being here."

Brown spent 16 seasons at Texas and won the 2005 national championship. He resigned in December after four consecutive seasons with at least four losses.

Strong's deal includes Texas paying a $4.38 million buyout from his previous contract with Louisville. Strong's salary and the buyout with Louisville will be paid entirely with money raised by the athletic department, school officials said. No state taxpayer money is used.

Texas has the wealthiest athletic department in the country, with an annual budget of more than $160 million.

Patterson said school officials initially drew up a list of about 30 potential candidates when their coaching search began.

"We whittled that list down a bit and then went out, had about a half a dozen interviews, and Charlie was great to sit with in his kitchen," Patterson said. "Wonderful family, tough football coach ... great in the community. By all accounts, we're just really excited to have him."

Strong's contract has bonus incentives, including $250,000 for winning the national championship and $100,000 for a Big 12 title or winning a national coach of the year award. It also pays at least $25,000 for appearing in a bowl game. Strong also could earn up to $150,000 based on his team's academic performance.

It also has some financial protection for the coach: Texas must pay Strong the balance of his contract if he is fired without cause. Brown's contract ran through 2020 but had a termination buyout that gradually reduced every year.

Now that he's been approved by university regents, Strong is expected to soon announce his staff.
 

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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?