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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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Clip art: Cutting edge barbershop creates a buzz in Fort Worth

Jonathan Morris is on a mission to create a better grooming experience for men.

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Grocers, retailers flocking to Southlake

With its economic development engine revving at full throttle, Southlake is about to welcome several major retail and commercial projects that underscore its image

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Great Woman of Texas; Stacie McDavid

“I’ve always been a maverick in a number of ways,” says businesswoman and philanthropist Stacie McDavid.

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It's Christmas tree time in the city of Fort Worth

Sundance Square will kick off the holidays with the lighting of the Christmas on Nov. 22 featuring a visit from a resident of the North Pole, musical and theatrical entertainment, as well as photo opportunities throughout the plaza.

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Nike cuts ties to Livestrong

 

JIM VERTUNO,AP Sports Writer

 

 


AUSTIN, Texas (AP) — Nike, which helped build Lance Armstrong's Livestrong cancer charity into a global brand and introduced its familiar yellow wristband, is cutting ties with the foundation in the latest fallout from the former cyclist's doping scandal.

The move by the sports shoe and clothing company ends a nine-year relationship that helped the foundation raise more than $100 million and made the charity's bracelet an international symbol for cancer survivors.

But the relationship soured with revelations of performance-enhancing drug use by Armstrong and members of his U.S. Postal Service team.

Nike dropped its personal sponsorship of Armstrong last October after U.S. Anti-Doping Agency exposed the team doping program and portrayed Armstrong as its ringleader. And after years of denials, Armstrong admitted earlier this year he used performance-enhancing drugs to win the Tour de France seven times.

Officials at Livestrong, which announced the split on Tuesday, said the foundation remains strong and committed to helping cancer patients worldwide through its survivorship programs.

Armstrong, who started the charity in 1997 as the Lance Armstrong Foundation, was pushed off the board of directors in October and the organization later changed its formal name to Livestrong.

In a statement, Livestrong officials said the foundation is "deeply grateful" to Nike.

"Together, we created new, revolutionary ways of thinking about how non-profits fuel their mission and we're proud of that," the foundation said.

Livestrong officials say the charity remains on solid financial ground.

"This news will prompt some to jump to negative conclusions about the foundation's future. We see things quite differently. We expected and planned for changes like this and are therefore in a good position to adjust swiftly and move forward with our patient-focused work," the foundation said.

The foundation said it reduced its budget nearly 11 percent in 2013 to $38.4 million, but said Tuesday that revenue is already 2.5 percent ahead of projections. The foundation also noted that last month, it received a four-star rating from Charity Navigator, which evaluates charities based on financial health, accountability and transparency.


 

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