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Fort Worth's new thoroughfare plan aims for more variety in street design

Fort Worth is launching a review of its master thoroughfare plan aimed at accommodating continued suburban growth and central city redevelopment with a greater variety of streets and more efficient traffic flow.

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Holt Hickman, businessman who helped preserve Stockyards, dies at 82

Longtime Fort Worth businessman, philanthropist and preservationist Holt Hickman died Nov. 15, 2014, at the age of 82.

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UPDATE: Could American Airlines move its headquarters?

A key linchpin in the Fort Worth economy, American Airlines Group Inc., is considering sites for a new headquarters, possibly outside the city, the airline’s CEO said this morning.

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Tiger Woods takes a swing at Fort Worth's Dan Jenkins - in print anyway

Rarely does Golf Digest make the news. Leave it to Dan Jenkins to change that.

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Crestwood area hoping to block planned office building

Residents of West Fort Worth’s Crestwood Association are trying to block the rezoning of a small apartment complex at White Settlement Road and North Bailey Avenue to make way for a planned office building, saying it would represent the start of commercial encroachment into their neighborhood.

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Mike Patterson

CFO of the Year – DFB Pharmaceuticals Inc.

Michael A. Patterson is much more than the chief operating officer for Healthpoint Biotherapeutics, the leading developer and provider of bioactive wound care treatment in the United States.

Patterson joined DFB Pharmaceuticals more than 20 years ago, and as executive vice president has been responsible for corporate finance, business development, operations, strategic planning, human resources and information technology.

He is credited with decentralizing DFB in such a way that each of its unique businesses – DPT Laboratories, Healthpoint Biotherapeutics and Phyton Biotech – could focus on its own core competencies in order to increase shareholder value.

Under Patterson’s financial direction, Healthpoint’s revenues grew from $149 million in 2011 to $194 million in 2012.  Gross profit increased 36 percent.

Healthpoint’s outstanding financial performance, top-tier market position and long-term growth prospects are what led to the sale of Healthpoint to Smith & Nephew for $782 million in November, says Travis Baugh, president of Healthpoint.
Smith & Nephew is a global medical technology business that operates in 90 countries. Healthpoint will continue operating out of Fort Worth under its existing senior 
management team.

Patterson has been a key member of that team since joining DFB Pharmaceuticals. He was instrumental in many of the key acquisitions that helped build DFB Pharmaceuticals over the years, Baugh says.

“In addition to being a terrific CFO – we have financed all our growth with bank financing, and he arranged for all of that – Mike is involved intimately with our operations,” Baugh says. “He sees the whole picture from market position, manufacturing and regulatory requirements, capital improvements, etc.”

Since it acquired DPT Laboratories from Alcon in 1990, DFB has been exclusively funded with bank debt. Revenues have grown from $15 million to $380 million, without requiring the dilution of equity.

“My biggest contribution has been finding ways to grow the businesses without selling any of our equity,” Patterson says. “We have been able to obtain the appropriate bank financing to support our growth strategy, using structured acquisitions to finance debt rather than the sale of equity in our companies.”

This acquisition and divestiture strategy has created more than $1 billion in shareholder value since the initial acquisition of DPT from Alcon in 1990, Baugh notes. He praised Patterson for his vision and his track record of maximizing shareholder value.

What is the best piece of financial advice you’ve ever 
received?


Just because you can borrow a certain amount of money doesn’t mean you should. Banks are often willing to loan you more than the business can really support.

What books/publications do you read to stay ahead in your industry?


Wall Street Journal, Harvard Business Review

Who would you say is your hero/someone you look up to, and why?


Warren Buffet. He buys businesses for the long term. He invests in things he understands and businesses with sustainable growth.

– Carolyn Poirot

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