Texas

Layoffs to Follow Dynegy-Vistra Energy Merger: Texas Power Market Continues to Suffer Due to Low Electricity Prices

Vistra Energy Corp. (NASDAQ:VST) announced it is acquiring Dynegy Inc (NYSE:DYN) in an all-stock deal valued at $1.74 billion. Debt-laden Dynegy has seen its margins shrink in the face of cheaper electricity prices.  The merger of the two Texas-based energy producers will create one of the largest integrated power companies in the U.S., with a (more…)

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Government Agencies Brace for Mortgage Defaults in Harvey-Hit Houston

Word Loans on wood planks

Harvey-Stricken Houston Homeowners Could Default on Their Mortgages Many Houston, Texas homeowners have been forced to leave their homes that were destroyed by Hurricane Harvey and the resultant flooding. Finding a place to live is their biggest worry now, so covering their monthly mortgage payments may no longer be on their agenda. Affected homeowners do not know (more…)

FEMA Under-Capacitated as It Fights Hurricane Harvey

FEMA US Homeland Security Form

FEMA Could Face Serious Rescue & Relief Challenges Amid Funding Cuts The Federal Emergency Management Agency (FEMA) is seeing Hurricane Harvey as one of the worst disasters to hit Texas in nearly all of its history. For Brock Long, the director and administrator of FEMA, it’s a storm that the “United States has not seen yet.”

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Aramark Corporation to Lay off 175 Employees in Houston

Loss of Big Contract to Result in Job Cuts at Aramark Food and uniform services company Aramark has announced that it is laying off up to 175 workers after losing a contract with a major client in Houston, Texas. Houston First Corporation, which manages more than 10 city-owned buildings, decided to end its contract with the caterer.