WEEK IN REVIEW
Monday This year’s hot toy
As with the Cabbage Patch dolls and Tickle Me Elmos of years past, retailers are quickly selling out of Hatchimals due to a demand frenzy and a supply shortage. Resellers charge double — and sometimes far beyond — the suggested retail price of $59.99. “It’s different from popularity. It’s insanity,” said Richard Gottlieb, CEO of consulting group Global Toy Experts.
Tuesday Cheers for Trump’s picks
The “drill, baby, drill” policies championed by Republicans eight years ago gained new momentum y with the announcement that Exxon Mobil CEO Rex Tillerson was President-elect Donald Trump’s nominee for secretary of state and that former Gov. Rick Perry is his pick for energy secretary. The symbolism of naming one of Texas’ consummate oilmen in Tillerson and one of the industry’s most ardent champions in Perry drew cheers across the Texas oil industry.
Wednesday Housing highlight
For much of this year, the Houston area housing market has shown resilience despite an economy that has stumbled under the weight of low oil prices. On Wednesday, the news got even brighter when a new report showed that singlefamily home sales were up almost 23 percent in November compared with a year ago, the largest monthly increase in years.
BPlooksatDenver
Oil giant BP is moving its U.S. onshore oil and gas headquarters from Houston to Denver, and taking about 200 of its 4,500 local employees with it. BP America’s headquarters will remain in Houston.
Thursday The Olympics of oil
Houston will host the so-called Olympics of the oil and gas sector in 2020 when the World Petroleum Congress comes to the Bayou City. Houston beat out Vancouver, British Columbia, to bring the international energy event to the United States for the first time since 1987 — when Houston was also the host.
Friday More jobs in Texas
Texas added nearly 21,000 jobs in November and the unemployment rate fell, the Texas Workforce Commission reported. The Houston metro area added 16,000 jobs over the year, a 0.5 percent annual growth rate.