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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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Tesla says decision on battery factory months away

 

SCOTT SONNER, Associated Press
DEE-ANN DURBIN, Associated Press

RENO, Nev. (AP) – Electric car maker Tesla Motors said Thursday that it is preparing a site near Reno, Nevada, as a possible location for its new battery factory, but is still evaluating other sites.

Tesla said it broke ground on the Nevada site in June. It said further that a final decision on the location for the $5 billion factory will be made in the next few months. Tesla has dubbed the proposed facility the "gigafactory," and says it could employ 6,500 people by 2020.

Competition for the factory is intense. California, New Mexico, Arizona and Texas are also in the running. Tesla wants the factory to supply batteries for its Model 3 electric car, which is set to go on sale in 2017.

"Any potentially duplicative investments are minor compared to the revenue that could be lost if the launch of Model 3 were affected by any delays at our primary Gigafactory site," Tesla said in a statement.

The states are trying hard to help Tesla make its decision. Earlier Thursday, Arizona said it had approved a $3 billion permit for Tesla to build the factory in Tucson, even though the company hadn't applied for one.

Three weeks ago, California Gov. Jerry Brown signed legislation that included tax incentives that appeared designed to benefit Tesla. That came two months after Tesla CEO Elon Musk said he considered the state a long shot because of the time it will take to win regulatory approval.

The ground-breaking in Reno doesn't necessarily make Nevada the favorite to land the factory.

On a conference call Thursday following the release of second-quarter earnings, Musk said "at this point the ball is in the court of the governor and the state legislature." He added that Tesla wants incentives that are fair to the state and the company.

Tyler Klimas, press secretary for Gov. Brian Sandoval, told The Associated Press that the governor cannot comment on any incentives Nevada might be discussing with Tesla.

Earlier Thursday, Tesla and its battery supplier, Panasonic Corp., announced that they will collaborate on the battery factory. Tesla will build the facility and Panasonic will make the batteries.

Durbin reported from Detroit.

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