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Bicycling, fitness center, rooftop bar coming to Clearfork's Trailhead

An 11,000-square-foot bicycling and fitness center is headed for the Trailhead at Clearfork on the Trinity River in west Fort Worth, Cassco Development said Wednesday.

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Residential land at Chisholm Trail Ranch purchased

Stratford Land, Legacy Capital Co. and the Walton Group of Cos. have snapped up 268 acres of residential land at Chisholm Trail Ranch in Fort Worth.

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Fort Worth to consider adopting 15-year Cavile Place redevelopment plan

The 300-unit Cavile Place housing project in Southeast Fort Worth would be razed and replaced in phases, with a significant number of the units redistributed into the neighborhood.

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Fort Worth payment processor acquired by pension plan group

Fort Worth-based First American Payment Systems has been acquired by an investor group led by the Ontario Teachers’ Pension Plan (Teachers’), with participation of members of the First American management team.

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Texas adds 19,100 nonfarm jobs in June; Fort Worth-Arlington jobless rate 5.3 percent

Seven of Texas' 11 major industry segments added jobs in June, the Texas Workforce Commission reported.

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Raytheon names Kennedy to succeed Swanson as CEO

 

Jonathan D. Salant
(c) 2014, Bloomberg News

Thomas will be the new chief executive officer of Raytheon, the world's largest missile maker, beginning March 31.

Kennedy, 58, succeeds William Swanson, who has been CEO of the Waltham, Mass.-based contractor for a decade, the company said Wednesday in a statement. Swanson is stepping down as CEO next month after reaching age 65 and will remain chairman of the board.

Raytheon, the No. 4 U.S. contractor, is scheduled to release fourth-quarter earnings on Jan. 30, as investors watch for signs of continuing effects on defense contractors from automatic U.S. defense-budget cuts that were eased last month in a congressional budget agreement.

The company reported in October that its third-quarter profit fell 2.8 percent amid the cuts, known as sequestration, even as it raised its full-year earnings forecast because of increased sales internationally.

Kennedy, executive vice president and chief operating officer of Raytheon since April 2013, has been with the company for more than 30 years. He has served as president of the integrated defense systems unit and vice president of the space and airborne systems division. The Air Force veteran holds a doctorate in engineering from the University of California Los Angeles.

Raytheon's lead director, Vern Clark, said that Kennedy is "a proven leader with a broad understanding of key technologies, keen customer focus, and a deep understanding of Raytheon's business."

Last month, Raytheon was one of seven companies named to share a contract valued at up to $4 billion for research and development to counter weapons of mass destruction. It's the largest award handed out by the Defense Threat Reduction Agency to develop scientific and technological solutions to the threat of attacks on the U.S. using WMDs.

 

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