WEEK IN REVIEW
Monday Bass Pro buying Cabela’s
Cabela’s agreed to be bought by Bass Pro Shops in a $5.5 billion deal, handing a victory to the activist investor that had been pushing the outdoorsports equipment retailer to put itself for sale. The deal marries Cabela’s 19,000 employees with Bass Pro Shop’s 20,000, and adds 85 Cabela’s stores to Bass Pro Shops’ 99.
Low gas prices in Texas
Fuel prices are rising in Texas and throughout the U.S. based on recent news that Saudi Arabia may curtail oil production. But, in a shift not likely to last long, Texas retailers on average are pumping the cheapest gasoline in the nation.
Tuesday 12 from city on Forbes list
Adozen Houstonians landed on the 2016 Forbes 400 list of the richest Americans, and most managed to maintain or increase their net worth. Houston’s wealthiest, Richard Kinder, was one of two local billionaires whose net worth declined.
Retail still growing
Houston’s retail real estate market is expected to continue expanding through the end of the year despite the slump in energy and consumer spending, according to the local office of the CBRE real estate firm.
Wednesday Spruce up for Super Bowl
Projects from downtown and Midtown to the Museum District and the Hobby Airport area are rushing toward completion ahead of Super Bowl LI. The latest neighborhood working to raise its game is the one that will host the main event, the area around NRG Park.
Lower-profile areas
The focus on urban development in Houston is shifting to lower-profile neighborhoods where new development and infrastructure improvements have been lacking. “What we are spending more and more time on is this shift toward looking at the Acres Homes of the world, the Fifth Wards of the world, the Sunny sides of the world … and spending more time convincing developers that it’s a good idea not to develop just in the inner Loop,” says Andy Icken, the city’s chief development officer.
Thursday Falling cost of electricity
Average retail electricity prices in Texas fell for the second year in a row and significantly faster than in the nation as a whole, largely due to low natural gas costs and a deregulated market, the Energy Department reported.
The cost of Epi Pens
Even the federal government is apparently paying too much for Epi Pens, along with angry patients and insurers. The government, responding to congressional inquiries, says Medicaid for years has been paying too much for Epi Pens because the emergency shot is classified incorrectly as a generic medicine.
Friday Advancing women
The Manufacturing Institute and BASF Corp. host an event dedicated to attracting, retaining and advancing women in manufacturing. Women represent just 27 percent of the manufacturing labor force.