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Berkshire Hathaway company acquires Fort Worth firm

M&M Manufacturing, a producer of sheet metal products for the air distribution and ventilation market based in Fort Worth, has been acquired by MiTek Industries Inc., a subsidiary of Warren Buffett’s Berkshire Hathaway Inc.,

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26-story mixed-use tower planned at Taylor & Fifth in downtown Fort Worth

Jetta Operating Co., a 24-year-old privately held oil and gas company in Fort Worth, and a related entity plan a 26-story mixed-use tower downtown at Taylor and Fifth streets on a site once owned by the Star-Telegram.

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UPDATE: Six candidates file for two Water Board seats

Six candidates have filed for the two open seats on the Tarrant Regional Water Board, setting up a battle that could potentially shift the balance of power on the board and the priorities of one of the largest water districts in Texas.

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Top area CFOs honored

The Fort Worth Business Press honored 13 area chief financial officers today with a luncheon at the Fort Worth Club.

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Fort Worth breaks ground on $8.6 million South Main renovation

Fort Worth Near Southsiders and city officials broke ground Monday on the 18-month rebuild of South Main Street between Vickery Boulevard and West Magnolia Avenue.

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Geren to chair Sam Rayburn Foundation

Pete Geren and Dee J. Kelly in Sam Rayburn Library in  Bonham. 

Pete Geren, a former member of Congress from Fort Worth and former Secretary of the Army, has been elected chairman of the Sam Rayburn Foundation, replacing longtime chairman Dee Kelly, a Bonham native and Fort Worth attorney who worked as a clerk for Rayburn while attending law school in Washington.

Rayburn was a Democratic lawmaker from Bonham who served as Speaker of the U.S. House of Representatives for 17 years, the longest tenure in history. Rayburn was a mentor to many aspiring political figures in the Lone Star State, including Lyndon B. Johnson, who rose through the ranks of Congress to become president of the United States.

The Sam Rayburn Foundation, a charitable trust formed in Bonham in October 1949, was started with a $10,000 gift from Rayburn, who had received the money in conjunction with an award from Collier's Magazine recognizing Rayburn's service to the nation. The Foundation's Rayburn Museum, including a library that currently houses Rayburn's papers, was acquired by the University of Texas at Austin in 1991 and is currently operated by the Center of American History of the University of Texas Library System.

According to The University of Texas Investment Management Company
(UTIMCO), the initial amount recorded for the Sam Rayburn Library Endowment in 1990 was $3 million. The initial gift from the Sam Rayburn Foundation included the property and contents of the Sam Rayburn Library. According to the 2013 annual report from UTIMCO, the current value of the Rayburn Endowment is $5.2 million.

Geren succeeded former U.S. House Speaker Jim Wright as Fort Worth's congressman in 1989 and served until 1997. He was appointed Acting Secretary of the Air Force in 2005 and Secretary of the Army in 2007. He currently serves as executive director of the Sid Richardson Foundation in Fort Worth. Kelly is a founding partner of the Kelly Hart & Hallman law firm. Kelly, who joined the Rayburn Foundation board in 1976, will continue to serve alongside other trustees, including Rep. Ralph Hall, R-Bonham, the longest serving member of the House of Representatives. Other trustees include Don Carleton, executive director of the Dolph Briscoe Center for American History in Austin; Sharron Cox of Bonham; Carmen Craig of Dallas; and Cindy Kelly Barnes of Austin.
 

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