Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Corebridge is based in Houston but was a subsidiary of AIG. Now Corebridge is being Spun Off through an IPO and will become its own publicly traded company.
Corebridge is based in Houston but was a subsidiary of AIG. Now Corebridge is being Spun Off through an IPO and will become its own publicly traded company.
Thanks, I think that was my confusion, I thought the spin off occured a year or two ago.
Thanks, I think that was my confusion, I thought the spin off occured a year or two ago.
The IPO occurred a year ago but it wasnt fully spun off. It has a separate stock and AIG only owns 52% of Corebridge but it’s still considered a subsidiary because it shares functions and control from AIG (until some point later this year).
But to be more direct about how it’s a win (your question), there’s a lot of corporate functions and infrastructure shared between the 2. Tech, marketing, hr, etc. they’ve been hiring there to support Corebridge as an independent company. They’ve, for example, expanded the internship partnership with UH
Training that provides skilled workers to a workforce that is transitioning to new technologies is helping the energy transition and providing a more technically diverse workforce for the Greater Houston economy.
A Houston disaster resilience and workforce collaborative has more than doubled in size in its first year.
Houston’s Resiliency Workforce Collaborative, an effort between public, private, educational and nonprofit groups to provide workforce training for careers in disaster relief and the energy transition, was formed in December 2022 following a $1.8 million investment from New York-based JPMorgan Chase & Co. (NYSE: JPM). Over the past year, the collaborative has more than doubled in size and is now composed of 38 members.
Additionally, it’s on track to serve more than 6,600 individuals, place over 1,400 people in high-demand jobs and provide more than 1,000 individuals with industry-recognized credentials by 2025.
The mission of the collaborative is to train individuals for the jobs needed during natural disasters, like plumbers and electricians, and for the energy transition, like wind and solar technicians, said Michael Webster, Houston Community College’s associate vice chancellor of workforce instruction. HCC is working with the organizations in the collaborative to provide the direct training for these individuals.
Nice article that talks about how Microsoft Azure is developing an energy software platform in Houston and has apparently had some trickle down into other software companies.
Today there is a trifecta of economic diverse companies growing and merging into a more diverse Greater Houston economy. One law firm, one commercial real-estate firm, and one battery storage firm building a new plant in Galveston County.
Johnson Downie and Lippman Jungers Announce Strategic Merger
Business Wire
Thu, Mar 7, 2024, 11:38 AM CST2 min read
World’s leading legal recruitment firms join forces
HOUSTON & LOS ANGELES, March 07, 2024--(BUSINESS WIRE)--Johnson Downie and Lippman Jungers, the world's leading legal search firms, announced their strategic merger today, uniting the unparalleled expertise and networks of Sabina Lippman, Clint Johnson, Mark Jungers, and their respective colleagues. Combined, the two firms have placed more than 2,000 law firm partners and opened more than 40 offices for AmLaw 50 firms.
Since its inception in 2008, Johnson Downie has been the premier legal search firm in Texas and the driving force behind the meteoric growth of the Houston, Dallas, and Austin legal markets. Lippman Jungers, established in 2011, is acclaimed for its deep connections and placements among the legal elite in New York, California and globally.
The two firms have already integrated their operations and will announce the new name for their combined venture later this year.
Houston commercial real estate co. Partners to open Atlanta office, its first outside of Texas
Houston-based Partners plans to open its first office outside of Texas this summer, fulfilling a goal that prompted the commercial real estate company to cut ties with the NAI Global network two years ago.
The company’s Atlanta office is scheduled to open in June, Partners Managing Partner Jon Silberman said during a March 7 press breakfast.
The new office will serve as a regional outpost for a number of southeastern markets, including the Carolinas, Florida, Georgia and Tennessee.
Partners is also the largest commercial real estate brokerage based in Houston, as No. 1 CBRE is based in Dallas and No. 2 JLL is based in Chicago.
New power storage to keep up with a growing diverse economy in the Greater Houston area.
GridStor Announces Acquisition of Galveston County Battery Energy Storage Project From Balanced Rock Power
450 MW / 900 MWh Texas acquisition expected to begin construction as early as Summer 2024
March 07, 2024 06:00 AM Eastern Standard Time
PORTLAND, Ore.--(BUSINESS WIRE)--GridStor, a developer and operator of utility-scale battery energy storage systems, announced today that it has acquired an up to 450 MW / 900 MWh project in Galveston County, Texas from Balanced Rock Power. The Evelyn Battery Energy Storage project, which is slated to begin construction in Summer 2024, has an anticipated on-line date of Spring 2025.
“Together with GridStor, we're building clean, reliable and affordable energy solutions today for a promising tomorrow.”
The project is scheduled to go online at a critical time for Texas. The Electric Reliability Council of Texas (ERCOT) recently forecasted that summer peak power demand in the state will increase by another 5,000 MW by the end of the decade, with the potential for 16,000 MW of new peak demand during winter extreme weather
Engineering and procurement are underway with leading suppliers and contractors preparing for on-site construction starting in the Summer of 2024. The project is expected to employ 100 full-time, skilled tradespeople and apprentices during its construction.
Group 1 is a juggernaut of growth in auto dealerships and economic diversity for the Greater Houston economy.
Group 1 continues wheelin’ and dealin’
National buying spree includes S.C. deals that could bring additional $1B in revenue
By Nusaiba Mizan STAFF WRITER
Houston-based Group 1 Automotive, one of the nation’s largest car retailers, continues to expand its network, buying up dealerships on both coasts during the past month.
The company, with 202 dealerships in the U.S. and U.K., on Monday said it bought Modern Classic Motors near Hilton Head Island, S.C., which sells Mercedes-Benz, Sprinter and Honda vehicles. The dealerships are expected to generate $140 million in annual revenue. Group 1 has five dealerships and a collision center in South Carolina, according to its website.
“We are delighted to grow our relationship with Mercedes-Benz and Honda while adding scale to our successful Hilton Head operations with these highly desirable brands,” Group 1 President and CEO Daryl Kenningham said in a news release.
The additions in South Carolina follow Group 1 announcements of two deals in February. On Feb. 26, the company said it had bought two Lexus dealerships in Southern California expected to generate $350 million in annual revenue. On Feb. 12 it said it bought RRR Automotive Group — which has dealerships in the Baltimore-Washington, D.C., area — and that it is expected to generate more than $500 million in annual revenue.
The deals so far this year could bring an additional $1 billion in revenue to Group 1, the company said. Its acquisitions in 2023 added an estimated $1.1 billion in revenue.
Google teams up with a local geothermal startup Fervo Energy to bring carbon free energy to the electric grid leading to decarbonization of the electric grid and economic diversity for the Greater Houston economy.
SUSTAINABILITY
A first-of-its-kind geothermal project is now operational
Nov 28, 2023
We partnered with a clean-energy startup to develop a geothermal power project in Nevada that is now contributing carbon-free energy to the electric grid.
Michael Terrell
Senior Director, Energy and Climate
To make the rapid progress needed to address climate change, we must accelerate a clean energy transition on a planetary scale. That’s why we set an ambitious goal to operate our data centers and office campuses on 24/7 carbon-free energy (CFE) on every grid where we operate by 2030, with the ultimate aim of accelerating the decarbonization of the world’s electricity systems.
To achieve these goals, we must quickly commercialize advanced clean electricity technologies. One of the most promising opportunities is enhanced geothermal energy, which uses new techniques to harness the consistent heat from within the Earth’s crust and generate electricity without burning fossil fuels or releasing carbon into the atmosphere. This helps provide a supply of clean energy that complements variable renewables, such as solar and wind, and brings the grid closer to operating on 24/7 CFE.
Two years ago, we partnered with clean-energy startup Fervo on the world’s first corporate agreement to develop an enhanced geothermal power project. Today, we are pleased to announce that our geothermal project is now operational and carbon-free electricity has started flowing onto the local grid that serves our data centers in Nevada.
Oil and gas companies entering into the EV charging market providing momentum to the energy transition and to the economic diversity of the Greater Houston economy.
BP Pulse, the electric vehicle charging subsidiary of oil and gas giant BP, opened its first EV charging station in the United States at the company’s Energy Corridor headquarters Wednesday afternoon.
The station features 24 EV direct-current fast chargers open to the public, Sujay Sharma, BP Pulse Americas CEO, said. The stations are compatible with the North American Charging Standard used by Tesla vehicles and for other vehicles that use the Combined Charging System, he said.
BP announced plans last year to invest $1 billion in EV charging infrastructure in the U.S. by 2030, with the aim of investing $500 million in the next two to three years. The subsidiary has committed to deploy more than 3,000 EV chargers by 2025 in the U.S. at airports, major metropolitan areas and at BP branded properties.
Entering the EV charging space is part of BP’s strategy of being an integrated energy company, Sharma said, adding that there is also “good synergy” between BP’s gas station and EV charging businesses.
Houston tourism is up and so is the economic diversity of the Greater Houston economy.
Business, baseball, Beyoncé brought 51M visitors to town
Houston tourism had a banner year in ’23, official says
Conventions such as CERAWeek and other business travel help drive tourism. The city hosted 560 conventions last year.
Houston’s travel and hospitality sector posted significant gains in 2023, according to Houston First Corp., thanks to events including the Astros’ playoff run and concerts by Taylor Swift and Beyoncé.
About 51 million people visited Houston last year, according to early projections from Houston First, the region’s destination marketing organization. That’s an increase of more than 5% from the 48.7 million Houston welcomed in 2022, itself a bustling year for tourism as “revenge travel” took over after two years of pandemic lockdowns and social distancing.
Heckman described business travel as foundational for the city’s tourism industry. Over the course of 2023, Houston hosted 560 conventions booked by Houston First, up from 414 in 2022.
And those visitors support the regional economy in a variety of ways, he said. Nearly 350,000 people are employed in the leisure and hospitality sector, for example. More than 23 million hotel room nights were booked over the course of 2023, helping push the city’s hotel occupancy tax collections to an all-time high. And more than 60 million people traveled through Houston Airports in 2023, up 11% from 2022 and also a record.
In addition to the direct economic impact of major events such as CERAWeek by S&P Global, the annual energy conference held downtown, industry conventions and other business travel can have an iterative effect, Heck-man said. Studies have shown that people who first travel to a city for a work event often return at some point.
“Economic development and tourism are linked,” he said. “A win on one side is a win on another.”
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Oil and gas companies entering into the EV charging market providing momentum to the energy transition and to the economic diversity of the Greater Houston economy.
