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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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Denton could be first city in state to ban fracking

EMILY SCHMALL, Associated Press


DENTON, Texas (AP) — A North Texas city that sits on top of the Barnett Shale, believed to hold one of the largest natural gas reserves in the U.S., could become the first place in Texas to permanently ban hydraulic fracturing.

A temporary ban is in place until September, but fracking opponents want to make that permanent through an ordinance that would prohibit the practice in Denton.

Operators would be allowed to continue extracting energy from the 275 wells in Denton that have already undergone fracking, but not initiate the process on old wells.

The city council will have 60 days to hold a public hearing and to vote on a measure expected to be submitted Wednesday.

"There's industrial activity right in the midst of a residential area diminishing people's property values and exposing them to toxins," said Adam Briggle of the Denton Drilling Awareness Group, the non-profit that organized the petition.

The fracking process involves blasting a mix of water, sand and chemicals into deep rock formations to free oil and gas.

The process has led to major economic benefits but also to fears that the chemicals could spread to water supplies and worsen air quality.

Under Texas law, land ownership is split between the surface and the minerals below, and in Denton, most of the mineral rights are held by estates and trusts outside Texas. Fracking in the city has created a divide between owners of mineral rights and residents who have to live with the consequences.

At the intersection of Vintage Ave. and S. Bonnie Brae in Denton, newly built homes face gas wells located about 200 feet away.

Industry proponents argue that fracking can be done safely and is cleaner than other forms of energy extraction. Of the 19 oil and gas companies operating in Denton, EagleRidge Energy is among the biggest.

"There is no question that wells can be drilled and fracked safely," said EagleRidge Chief Operating Office Mark Grawe. EagleRidge would consider a ban on fracking a violation of property rights and would likely lead to a claim against the city, Grawe said.
 

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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?