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New arena at Will Rogers takes shape


The proposed Will Rogers Memorial Center arena continues to take shape as voters head for a Nov. 4 election to decide whether to approve new taxes to help pay for the $450 million facility.

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Cooking Class: Fort Worth chef brings home the gold

Toques off to Timothy Prefontaine. The executive chef at the iconic Fort Worth Club is currently the best in the nation, according to the American Culinary Federation. Prefontaine earned the title of 2014 U.S.A.’s Chef of the

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Fort Worth firm 'simplifies' advertising

Reaching customers requires more than price slashing and flashy ads. In today’s competitive marketplace, machines – not men and women – are essential to tapping new markets and

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Trinity Valley School leader to leave in May 2015

Gary Krahn, head of school for the past eight years at Trinity Valley School in Fort Worth, will leave his position in May 2015 when he and his wife Paula will move

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RadioShack rescue raises question of what's worth saving

NEW YORK — RadioShack Corp.'s effort to seek financing and stave off bankruptcy raises a key question for investors, analysts and the customers who've shunned the electronics retailer for years: What's worth saving here?

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Lockheed acquires Texas company in aerospace sector

Amrita Jayakumar
(c) 2014, The Washington Post.
WASHINGTON — Lockheed Martin is expanding its space systems business.

The Bethesda, Md.-based defense giant announced Thursday that it will acquire Astrotech Space Operations, a satellite division of Astrotech Corp., which is headquartered in Austin. Astrotech Corp. was formerly known as Spacehab and was based in Houston.

The deal, if approved, is valued at $61 million and would close in the third quarter of this year.

"Astrotech Space Operations' expertise in the final stages of launch preparation complements our existing capabilities in satellite design, production and integration," Marillyn Hewson, Lockheed Martin's chief executive, said in a statement.

The acquisition is a relatively small one for Lockheed, which already has a robust space operation, said Roman Schweizer, a defense policy analyst at Guggenheim Partners.

"Lockheed has been very selective in the companies they acquire or lines of business they invest in," he said.

At an industry conference in New York on Thursday morning, Hewson said Lockheed would continue to make small acquisitions "to open into new markets."

The Lockheed-Astrotech deal comes on the heels of another aerospace merger. In April, Dulles, Va.-based Orbital Sciences said it would merge with Alliant Techsystems' defense segment to form a new company named Orbital ATK.

Once the $5 billion deal goes through, it will create a new player in the increasingly competitive aerospace sector, which has long been dominated by a Boeing-Lockheed Martin joint venture called United Launch Alliance.

Astrotech Space Operations provides support for government and commercial satellite launches. The company says it covers 90 percent of the U.S. satellite service market. It operates facilities in Florida and California.

Parent company Astrotech Corp. posted a net loss of $3 million in the third quarter of 2014, which it attributed to a light launch schedule. Revenue was down 66 percent from the previous quarter.

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What do you think of the new plans for a new Will Rogers arena and changes at the Convention Center?