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NOVEMBER 2020
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CONTENTS NOVEMBER 2020
VO LU M E 1 5 | I S S U E 0 8
EYE ON THE FUTURE Kelcy Warren says he can clearly see the light at the end of the tunnel.
Voices of Boom and Bust Energy industry leaders show resilience, innovation, and optimism in the face of one of the most volatile cycles of a lifetime. story by WILL MADDOX portraits by TREVOR PAULHUS
The Redemption of Mark Brezinski After a spectacular rise and fall, the father of Dallas’ fast-casual food scene is ready for his next big hit with Marugame Udon. TR E VO R PAU LH U S
story by BIANCA R. MONTES photography by JUSTIN CLEMONS
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CONTENTS
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8 EDITOR’S NOTE
DOSSIER
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1 1 YO U N E E D T O K N O W
Ted Colbert, Boeing Global Services 14 MEET THE 500
Dr. Kelvin Baggett, Posterity Capital Group
Sarah Means and Lizzie Means Duplantis, Miron Crosby 1 6 T E C H N O LO GY
Gail Warrior, CASPR Group 1 8 O N T H E TA B L E
Tony Goodman, PeopleFun
FIELD NOTES 37 LESSON LEARNED
Chasity Wilson Henry, CECO Environmental Corp. 3 8 R E A L E S TAT E
The Dallas studio of Perkins and Will strives to honor the rich traditions of Deep Ellum’s past while taking it into the future. 40 ON TOPIC
Gary Kelly of Southwest Airlines, April Anthony of Encompass Home Health and Hospice, and John Gates of JLL share strategies for leading a business through uncertain times. 42 THOUGHT LEADER
Tracey Doi of Toyota Motor North America says it’s time for executives to reassess their corporate priorities.
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OFF DUTY
45
45 ART OF STYLE
Dr. Simal Patel, Strut Health 4 6 FAV O R I T E T H I N G
Eddie Gossage, Texas Motor Speedway 48 PURSUITS
Lea Ellermeier, 2C MedTech 49 ROOTS
Bhavani Thuraisingham, The University of Texas at Dallas
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Willie Hornberger, Jackson Walker 64 END MARK
Philanthropist Margaret McDermott
Pony Oil’s Founder and CEO J O H N PAU L M E R R I T T
says in current conditions, only the best of the best survive.
Resilience, innovation, and optimism in the face of one of the most volatile cycles in a lifetime.
ON THE COVER:
John Paul Merritt, founder and CEO of Pony OIl, photographed by Trevor Paulhus.
T H U R A I S I N G H A M C O U R T E S Y O F B H A V A N I T H U R A I S I N G H A M , B AY LO R C O U R T E S Y O F P E R K I N S A N D W I L L , P O R T A R A N S A S C O U R T E S Y O F C I N N A M O N S H O R E , M I R O N C R O S BY C O U R T E S Y O F M I R O N C R O S B Y, PAT E L C O U R T E S Y O F D R . S I M A L P A T E L
14 FRESH IDEAS
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P U B L I S H E R Gillea Allison EDITORIAL EDITOR Christine Perez MANAGING EDITOR Will Maddox ONLINE MANAGING EDITOR Bianca R. Montes ASSOCIATE EDITOR Kelsey J. Vanderschoot CONTRIBUTING EDITOR Brandon J. Call CONTRIBUTING WRITERS Richard Alm, W. Michael Cox EDITORIAL INTERNS Elizabeth Beeck, Maria Hieber, Jenny Rudolph, Mariah Terry
ART DESIGN DIRECTOR Hamilton Hedrick STAFF PHOTOGRAPHER Elizabeth Lavin JUNIOR DIGITAL DESIGNER Emily Olson
A DV E R T I S I N G ADVERTISING DIRECTOR Rhett Taylor ASSOCIATE PUBLISHER OF PROFESSIONAL SERVICES Kym Rock Davidson SENIOR ACCOUNT EXECUTIVES Cami Burke, Haley Muse MANAGING EDITOR OF SPECIAL SECTIONS Jennifer Sander Hayes DIGITAL REVENUE DIRECTOR Tracy Albertson DIGITAL AD OPERATIONS MANAGER Riley Hill CLIENT OPERATIONS MANAGER Palmer McGraw SALES MARKETING MANAGER Rachel Schoellkopf
MARKETING & EVENTS BRAND MANAGER Carly Mann EVENTS DIRECTOR Bethany Kempfe ADVERTISING ART DIRECTOR Katie Garza BRAND INTERN Abrianna Davidson EVENT INTERNS Maggie Hightower, Melanie Cavendish
AU D I E N C E D E V E LO P M E N T DIRECTOR Amanda Hammer COORDINATOR Sarah Nelson DATA ENTRY SPECIALIST Jae Chung RETAIL STRATEGY MANAGER Steve Crabb MERCHANDISER David Truesdell AUDIENCE DEVELOPMENT INTERN Masha Konkov
PRODUCTION DIRECTOR John Gay PHOTO RETOUCHER Natalie Goff
BUSINESS CONTROLLER Debbie Travis ACCOUNTING MANAGER Sabrina LaTorre STAFF ACCOUNTANT Lesley Killen IT TECHNICIAN Luan Aliji
WEB EDITORIAL DIRECTOR Matt Goodman
MAIL 750 N. Saint Paul St., Ste. 2100, Dallas, TX 75201 The magazine assumes no responsibility for the return of unsolicited manuscripts. WEBSITE www.dmagazine.com/publications/d-ceo MAIN OFFICE 214-939-3636 ADVERTISING 214-939-3636 x 128 REPRINTS 214-939-3636 SUBSCRIPTION SERVICES For immediate assistance, call 214-939-3636 x 232. For other inquiries, e-mail customerservice@dmagazine.us. SUBSCRIPTIONS 11 issues for $54 in the United States, possessions, APO and FPO; $70 per 11 issues elsewhere. Please provide old and new addresses and enclose latest mailing label when inquiring about your subscription. For custom publishing inquiries, call 214-540-0113.
D M A G A Z I N E PA R T N E R S EDITOR-IN-CHIEF AND CEO Christine Allison PRESIDENT Gillea Allison CHIEF FINANCIAL OFFICER Thomas L. Earnshaw CHIEF OF STAFF Rachel Gill FOUNDER Wick Allison
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LETTER FROM THE EDITOR
Be Like Wick: Make Dallas Even Better
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as i write this note, it has been a month to the day since we lost our beloved founder and leader, Wick Allison. His passing shouldn’t have come as a surprise; he had battled bladder cancer and its ripple effects for the better part of a decade. But Wick always seemed invincible. Whenever he’d get knocked down, he’d somehow find a way to get back up. And he never, ever complained (about the cancer, that is). I’m glad to know that he went out on his terms, ending treatment and spending his last weeks surrounded by his wife and four daughters at his fishing camp in upstate New York. If you’ve not yet had a chance to do so, I hope you take time to read the tribute Tim Rogers wrote about Wick in the current issue of D Magazine. It perfectly captures the man who dropped out of business school at SMU to launch the publication in 1974. Thirty-two years later, he added to the company’s portfolio by creating D CEO (initially known as Dallas CEO). Yes, he saw the business opportunity in a luxury magazine that focused on the C-suite, but just as important, his mission was to connect leaders in the rapidly growing region and coalesce their influence to strengthen his hometown. That mission—making Dallas even better—is the official tagline of D’s signature title and a mantra for our company. It’s at the core of everything we do; I’ve seen it play out repeatedly. My second year at D CEO, for example, we did a special package on the region’s robust tech sector. Wick wanted to encourage corporate relocations and show people how North Texas favorably compared to Austin. So, even though it would significantly cut into profits, he printed thousands of extra copies and mailed them to site selectors throughout the U.S. He used his formidable platform to support numerous other initiatives and shine a light on problems—most recently, and most profoundly, by co-founding Coalition for a New Dallas. But it wasn’t just the city that Wick made even better; it was the people who worked for him and all those who knew him.
Christine Perez Editor
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NOVEMBER 2020
DOSSIER TRENDS
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NORTH TEXAS NEWSMAKERS
YOU NEED TO KNOW
COURTESY OF B O E I N G G L O B A L S E R V I C E S
Boeing’s Ted Colbert Keeps the Planes Flying At the helm of Plano’s Boeing Global Services for about a year, the tech whiz is helping the company navigate challenging times. story by CHRISTINE PEREZ
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through a series of impressive career moves at Ford, then Citi, and, since 2009, Boeing. Serving as CIO and senior vice president of the aviation giant, Colbert gained notice by using analytics and IT initiatives to drive growth and create new revenue streams. He was promoted to president and CEO of the company’s global services unit, which is based in Plano, last October. Colbert grew up in a suburb of Baltimore and played three sports in high school—baseball, football, and track. He had a knack for computers, teaching himself to program on the family’s Commodore 64. Influenced by life in the D.C. area, he thought he’d study political science and get a law degree. But a high school teacher noticed his math prowess and suggested he give engineering a try instead. He got scholarship ofted colbert was about a year out of colfers from a number of tech schools, but Colbert lege when his boss at Ford Motor Co. gave him a became enamored with the idea of attending a Cross pen. He was in a career rotation program Historically Black University after watching The that exposes recent graduates to various departments at the Michigan automaker, ranging from Cosby Show spinoff, A Different World. IT and manufacturing to HR and finance. ColHe found the perfect fit in a dual-degree enbert’s first gig was up, and he was moving on to gineering program at Morehouse College and the next. The pen was a parting gift. It was enthe Georgia Institute of Technology in Atlangraved to read: “Theodore ta. “Morehouse, along with Colbert III, VP.” other HBUs, provides an Still new to the business environment that is very rig“WHAT I LOVE world, Colbert asked what orous academically, but also ABOUT THIS VP meant. His boss told meets people where they are FIELD IS SOLVING him, “It means vice presiand allows them to grow; it PROBLEMS. dent. They’re among the top nurtures them and builds THERE HAS leaders in the company—and confidence and identity, one day you’ll be one.” which is super important,” NEVER BEEN A It was only the second pen Colbert says. PROBLEM THAT I the supervisor had given out, Living through hard times DIDN’T WANT TO after having worked with in the auto industry and the GO SOLVE.” tens, maybe hundreds of infinancial crisis at Citi has terns. He told Colbert: “You provided a strong foundaTED COLBERT have a special set of skills tion for weathering the curBoeing Global Services that you aren’t even aware of rent downturn in aviation. yet, and your humility and In some ways, it has made the way you share and help others around you Boeing Global Services even more valuable for will take you far.” It was a pivotal moment, causcustomers, as the company helps lower costs and ing Colbert to reimagine his own career goals increase efficiencies. And it all feeds into what and teaching him “the importance of believing Colbert enjoys most about his work. “What I in people and opening their hearts and minds to love about this field is solving problems,” he says. possibilities they never imagined,” he says. “By “There has never been a problem that I didn’t doing this and providing others with challenging want to go solve. The combination of using techopportunities to grow and contribute, we build nology and recognizing that everything we do leaders with the confidence and skills to succeed.” involves people and bringing the two together— It’s a philosophy that has helped propel him that’s what gets me excited.”
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BUSINESS PLAN
A Comprehensive Approach Boeing Global Services focuses on four services capabilities:
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Its Engineering, Modifications, & Maintenance platform supports more than 14,000 aircraft in about 65 countries throughout the world.
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DOSSIER
FRESH IDEAS
You Bet Your Boots
MEET THE 500
DR. KELVIN BAGGETT Managing Director P O S T E R I T Y C A P I TA L G R O U P
during the pandemic, dr. kelvin baggett, managing director of healthcare investment firm Posterity Capital Group, was named the COVID-19 Health and Healthcare Access Czar for Dallas. Mayor Eric Johnson asked Baggett to address access to coronavirus testing, evaluate city procedures surrounding the disease, and increase the efficacy of contact tracing among other COVID-related measures—all while juggling his full-time work at his investment firm. EDUCATION: East Carolina University School of Medicine (MD), The Johns Hopkins Bloomberg School of Public Health (MPH), Duke University (MBA), The University of North Carolina at Chapel Hill (BS, Biology) FUN FACT: “I wrote poetry as a child, which turned into becoming a selfproclaimed rapper.” MUST-READ: “The Long Walk to Freedom, by Nelson Mandela, which captures the evolution of one of the most transformative leaders ever.” I LOVE MY: “I have a globe in my office
that was a gift from The Fuqua School of Business at Duke University. It has a quote engraved on it from Mahatma Gandhi that I look at and reflect on frequently.” WHAT 2020 TAUGHT ME: “This year demonstrated that we are more interconnected and interdependent as a society than I previously appreciated. The health and circumstances of someone else can have a consequential impact on your life and livelihood. That being said, I also witnessed a remarkable level of sacrifice and galvanization of support for others, and I am optimistic that we can fundamentally address
unresolved issues of social and racial injustice.” A BETTER DFW: “One of the most glaring issues that has to be addressed is the significant disparities that exist and how those limit opportunities and perpetuate poorer health conditions for certain community members; however, I am inspired by Dallas’ talent, resources, and wherewithal to create sustainable and more equitable improvements for our city and other cities across our nation. These will produce enormous social and economic benefits.” BUCKET LIST: “I’d like to take my wife on an extended vacation to Greece.”
in new york city, a thousand miles away from their family ranch in West Texas, sisters Sarah Means and Lizzie Means Duplantis were surprised by the positive feedback they received when they wore their traditional cowboy boots out on the town. “New York gave us the confidence to be authentically Western,” Duplantis says. Drawing inspiration from the city and classic streetwear, the sisters founded Miron Crosby in 2017 and opened a studio in Highland Park Village. Since then, the brand has attracted celebrity customers like Gigi Hadid. Its new collection draws inspiration from recent social movements, focusing on love and positivity in dark times. They say they hope their designs continue to prove that anyone can rock a pair of cowboy boots. “Western has had such relevance in high fashion of late, which has been great for us,” Means says. “And we’re so grateful to have contributed to that.” —Ellie Beeck
B AG G E T T BY J A K E M E Y E R S ; M I R O N C R O S BY C O U R T E S Y O F M I R O N C R O S B Y
Dallas bespoke bootmaker Miron Crosby blends Old West and contemporary styles.
COWGIRL CHIC
Sisters Lizzie Means Duplantis, left, and Sarah Means bring a modern flair to their bespoke boot brand.
This Q&A is extended content from Dallas 500, a special edition produced by D CEO that profiles the region’s most influential business leaders. Visit www.dallas500.com for details.
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DOSSIER
H E A LT H C A R E T E C H
story by KELSEY J. VANDERSCHOOT
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gail warrior got a wake-up call when she found THE herself in an emergency room after a third anxiety attack PANDEMIC brought on by the stress of serving on six different boards and CAUSED leading her commercial contracting company, Warrior Group. DEMAND “Oftentimes, we spend so much time and energy doing the FOR CASPR things that we need to do to bring an income, but we forget about getting off GROUP’S the train and really taking time to foPRODUCTS TO cus on self-care,” she says. SKYROCKET. Stepping away from construction entirely in 2016, Warrior, who has long competed in fitness competitions, founded an athleisure and lifestyle coaching business called Warrior Elements. She spent the next couple of years coaching, training, and earning a certificate in integrative nutrition. The refreshed exec was then in fighting shape to launch her newest endeavor: CASPR Group, a Dallas-based healthcare technology company. Her husband, Dr. Christophe Suchy, had been selling pathogen-removing technology in the food and transportation sectors in Europe through his company, ReSPR. Warrior felt the technology would do well in American healthcare, and knew she could grow the market in the United States. The pair formed CASPR Group in 2016, with Warrior as the company’s CEO. Because CASPR products combat airborne contaminants, the pandemic caused demand to skyrocket. Warrior forecasts revenue will hit somewhere between $7 million and $15 million this year. “For 2021, it will just explode,” she says, as the company continues to overcome kinks in its supply chain. Warrior recently brought in former Daeseke executive Scott Wheeler to handle the day-to-day operations of CASPR Group as CEO. She remains chair of the company, and her husband serves as president and CTO. Warrior is also staying GROWTHbusy serving on several nonprofit boards—and MINDED mulling over her next venture. “Something in Warrior says annual revenue holistic living or teaching others how to have a at CASPR Group should better lifestyle is definitely at the top of the list “explode” for me,” she says. next year.
P H OTO G R A P H Y C O U R T E S Y O F G A I L W A R R I O R
Dallas entrepreneur Gail Warrior’s new pathogenremoval technology, and her journey to a healthier, happier life.
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9/29/20 9:28 AM
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A Winning Strategy: Tony Goodman The icon behind Age of Empires has shifted to casual mobile gaming with his Richardson-based company, PeopleFun. it’s a beautiful thing when your career aligns with something you love, and such is the case for Tony Goodman, the CEO and founder of PeopleFun, one of the world’s top mobile game developers. We’re meeting for lunch over Zoom, both OK with avoiding the risks of dining in person while COVID-19 still lingers in the air. As he unpacks his tortilla soup from Mena’s Grill TexMex Cantina (a personal favorite due to its “solid story by CHRISTINE PEREZ Tex-Mex fare” and because it’s close to his office), I illustration by JAKE MEYERS brag about my third-place finish in a Wordscapes tournament the previous weekend. The mobile game is one of about 10 developed by PeopleFun. Other titles include Word Stacks, Word Chums, and Wordscapes Search. More than 120 million people have downloaded Wordscapes, which has about 4.5 million daily active users and 14.8 million “IT’S NOT JUST monthly active users. (Don’t be im20-SOMETHING pressed by my third-place finish; GAMERS ANYMORE; weekend tournaments are divvied IT’S EVERYBODY.” up into groups of about 100 players.) Launching PeopleFun was a departure for Goodman, who in 1995 co-founded Ensemble Studios with his brother Rick Goodman and John Boog-Scott and developed the wildly successful Age of Empires franchise. He sold Ensemble Studios to Microsoft in 2001 but continued to run it until the late 2000s. Goodman then co-founded Robot Entertainment. He left in 2010 to segue into the casual mobile segment—a category that has seen explosive growth
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in recent years, with phenoms like Candy Crush. Goodman was a big gamer growing up, starting with board games like Risk and moving to video games in the 1970s. But by 2011, he was no longer interested in setting aside hours every day to play a war or strategy game. “Like everyone else, it went from that to playing when you have 20 minutes standing in line or something,” Goodman says. “We had changed, in the type of gamers we were, and decided to [develop] the types of games we now wanted to play.” By we, he’s referring to his partner in the business, Boog-Scott, the company’s COO. The two have been friends since they both attended Lake Highlands Junior High. Switching to casual mobile has meant an exponentially larger market for the developers. “It’s not just 20-something gamers anymore; it’s everybody,” Goodman says. PeopleFun has experienced tremendous growth due to the popularity of its games and spikes in playing time because of the coronavirus. Also instrumental has been a 2018 affiliation with AppLovin, a marketing technology compay that’s based in Palo Alto, California. Since becoming an AppLovin studio, PeopleFun has seen its revenue increase nearly seven-fold, its EBITDA increase 27 times, and its headcount grow from 16 to more than 60 people. AppLovin also helped Wordscapes become the No. 1 grossing title in the word game category. The strategy moving forward is to “make sure we provide a great game in every word category,” Goodman says, then expand into things like a Boggle-type game, crossword puzzles, and perhaps a match game: “It’s wide open. We’re experimenting with a lot of different things.”
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Equity, Bonus & Commission Disputes Rogge Dunn, Rogge Dunn Group
Can companies change their compensation systems in mid-stream? Yes. In most states, companies have substantial discretion to change their equity, bonus, and commission plans. However, legal issues arise when changes in compensation systems reduce payments when executives have already achieved target metrics or deals have been closed. In those circumstances, arguably, the executive or independent contractor has already earned a bonus or commission. Some employers’ comp plans state that execs forfeit their rights to equity, trailing interests, bonuses, or commissions if they are not employed on the payment due date. This is typically called a “you must be present to win” provision. What should you do if your employer alters a compensation or commission plan? When a company announces changes to its payment structure that reduce payments, an executive or salesperson who does not object in writing and continues to work after receiving notice of the changes may waive her or his legal rights to the prior, higher payment structure. Therefore, you should carefully craft a diplomatically worded email to HR that you did not agree to the change. What happens if an executive or salesperson quits before equity vests or a bonus is paid? If possible, stay employed until the vesting occurs or the bonus or commission is paid. If you must quit prior to the time that you receive payment, try to confirm whether the company will waive the “must be present to win” provision, accelerate vesting or otherwise make payment to you. Are there exceptions to plan provisions? Yes. Payments may be legally owed if there
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has been a long-standing custom, pattern, or practice of vesting equity, paying trailing interests, bonuses or commissions under particular circumstances. If a company is intentionally acting in bad faith and/or trying to mislead executives and salespeople regarding equity, bonuses or commissions, they can be liable for fraud. Also, companies are at risk for discrimination claims if they consistently make payments and then don’t pay one particular individual. Companies should be 100% consistent with their comp plans. What are the key takeaways? • If companies provide equity or pay bonuses or commissions, they should utilize a written comp plan. This decreases misunderstandings, confusion and mistakes. • Companies without a clear written plan may unwittingly be liable to vest equity, and pay bonuses or commissions based on custom, pattern, or practice. • If the metrics or plan provisions are unclear, ask your employer for a written clarification. • Executives should obtain and safeguard a copy of all comp plans, all plan summaries, and all e-mails describing the plans or changes in same. • If you resign prior to receipt of a payment, you are at risk for not receiving equity, bonuses, and/or commissions. • Ambiguity or confusing provisions about payments will often be construed against a company–if the company wrote the plan. • Companies should be consistent regarding distributing equity and all other payments. Inconsistencies can subject the company to liability for discrimination claims.
Rogge Dunn represents companies, executives, and entrepreneurs in business and employment matters. These include the CEOs/presidents of American Airlines, Baker Hughes, Beck Group, Dave & Busters, Gold’s Gym, Haggar Clothing, Halliburton Energy Services, Kinko’s, Texas Motor Speedway, Steak n’ Shake, SunEdison, Texas Capital Bancshares, Texas Tech University, Crow Holdings, and Whataburger. Corporate clients include Adecco, Beal Bank, Benihana, CBRE, Cintas, DuraServ, Match.com, Rent-A-Center, and Outback Steakhouse. Dunn has been honored as a Texas Super Lawyer every year that award has been given by Thompson Reuters Service, as one of the top 100 attorneys in Texas, and a D Magazine Best Lawyer 11 times. Dunn is one of only approximately 25 attorneys in Texas Board Certified in Civil Trial Law and Labor and Employment Law.
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500 N. Akard St., Suite 1900 Dallas, Texas 75201 214.888.5000 info@roggedunngroup.com www.roggedunngroup.com 11 TIME BEST WINNER
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story by WILL MADDOX portraits by T R E VO R PAU L H U S
R E S I L I E N C E , I N N O VAT I O N , A N D O P T I M I S M I N T H E FA C E O F ONE OF THE MOST
V O L AT I L E C YC L E S I N A L I F E T I M E .
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“Will trade oil for toilet paper.” So read a marquee outside an office building in downtown Midland on April 20, 2020, as the perfect storm of oversupply and pandemic-induced reduced demand took hold of the oil and gas industry. On that day, producers watched in disbelief as the oil futures price fell to -$37.63 on the New York Mercantile Exchange. For West Texas Intermediate, the posted price dropped as low as -$41. 25. The sign usually displayed the price of oil, but it wasn’t programmed to go negative. The gallows humor messaging seemed appropriate, as oil prices were, indeed, in the shitter.
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P R E V I O U S S P R E A D : S H U T TE R S TO C K . H E A DS H OTS CO U RT E SY O F CO M PA N I E S . C H A RT S O U RC E M AC R OTR E N DS , 2 02 0
What exactly does a negative price mean, and how did it impact oil and gas operations here in North Texas? It may be a surprise that many of the region’s oil leaders have taken this year’s market volatility in stride. Although it may be the most exaggerated cycle many of them have seen, they didn’t get into the business because it was steady and predictable. The leaders of enduring oil and gas companies have to be agile and resilient. They pride themselves on their ability to see around corners to take advantage of new opportunities, find benefits where others don’t, and make tough WILD SWINGS IN THE MARKET calls for their companies.
OIL + GAS OUTLOOK 2021
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“On one level, you could say, you’ve never seen anything like this before. On the other hand, the history of the industry is nothing but this kind of thing,” says Bill Keffer, the director of energy law programs at Texas Tech University. “It has been boom and bust cycles since its inception.” The oil industry had yet to recover from the 2014-2016 drop when the price of crude dipped below $30. Before that, higher prices encouraged many newcomers into the business, especially as fracking technology turned previously dormant oil fields into productive patches once again. But when the prices dropped in 2014, only the companies that ran lean and weren’t overextended could be profitable. Earlier this year, oil prices began to steady around $60 per barrel, but forces beyond the control of Texas oilmen began to tank the price. “Every time prices are finally kind of coming up out of the doldrums and doing well, Saudi Arabia starts ramping up production,” says Richard Denne, Director of the TCU Energy Institute. “And you inevitably get the crash on the other side of that. That’s just the boom and bust cycle that we’ve seen for the last 50 years.” As the price drops, oil companies’ profits fall off a cliff, but the only way to make up for that loss in revenue is to continue to drill, which only floods the market even more. It is a constant Catch-22 for oil producers and makes these price drops challenging to weather. Maintaining positive cash flow, low overhead,
H OW H A S RECENT VO L AT I L I T Y CHANGED THE OIL AND GAS MARKET? “There will be less competition, fewer participants, and fewer people. With increased mergers and acquisitions, consolidation is the theme. The overall supply and demand of the lower 48 may not be on a significant growth trajectory, and not every producing basin is the same. Some basins will have a harder time.”
DOUG DORMER
C EO a n d C h a i r m a n C a rd i n a l M i d s tre a m
Oil prices hadn’t fully recovered from 2016 when stay-at-home orders in 2020 caused drivers to stop filling up their gas tanks; demand plummeted, just as supply ramped up.
C H O P P Y WAT E R S
Anyone who has been in the commodities business for any length of time knows that it is a cyclical and often erratic industry. In investigative journalist Ida Tarbell’s 1904 book, The History of the Standard Oil Company, she writes, “From the first, oilmen had to contend with wild fluctuations in the price of oil. In 1859, it was $20 a barrel, and in 1861, it had averaged $0.52. Two years later, in 1863, it averaged $8.15, and in 1867 but $2.40.” The price dropped 97 percent in the next nine years, increasing nearly 1600 percent post-Civil War and then decreasing almost 75 percent again.
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KELCY WARREN C EO A N D C H A I R M A N En e rg y Tra n s fe r
Heading into the oil bust earlier this year, conditions were as ideal as Energy Transfer CEO and Chairman Kelcy Warren had ever experienced. “In my 42 years of doing this, this was the most balanced market I have ever seen. Nothing had come close to this,” he says. There was market consistency, and the pipeline business was steady. When the demand disappeared as the economy shut down, supply built up, and producers had nowhere to put it. Energy Transfer has some of the largest storage capacity in the
nation and was able to pivot quickly from moving the product to storing it. Even while making fast and difficult decisions, Warren knows that all eyes are on him. “People are studying you. They’re paying attention to how you respond, especially in a crisis. You really have no choice but to be optimistic, because everybody feeds off of that energy or lack of energy.” He, like many others in the industry, looks ahead to brighter days. “You can see the light at the end of the tunnel clearly right now.”
CHANGING GAME PLAN
Kelcy Warren and Energy Transfer shifted to storing commodities when the prices dropped.
“WE ALWAYS TAKE A LONG-TERM VIEW. I’VE BEEN ON THIS ROLLER COASTER FOR QUITE A WHILE NOW, AND I’VE BEEN THROUGH THE UPS AND DOWNS. THIS [LATEST ONE] IS CERTAINLY SIGNIFICANT. I’VE NEVER SEEN PRICES GO NEGATIVE.” TR E VO R R E E S -J O N E S | Fo u n d e r a n d C EO, C h i ef O il & G a s
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and planning for the future are essential for times like these. The market was due for a price drop, but the pandemic was a catalyst for disaster. “The world was changing prior to 2020 when it came to the mineral space, and we were already starting to adjust. Then it really accelerated with COVID and the crash in oil prices,” says John Paul Merritt, CEO of Pony Oil.
T H E S T O R M
It made headlines when the oil futures price went briefly negative in April, but many in the business weren’t panicking as much as hysterical media reports might have suggested. There weren’t many contracts purchased at the hostile prices, and the drop didn’t impact producers much at all. Traders and speculators were the ones who lost big.
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“It’s all about capital efficiency; it’s efficiency of cost. It’s not an E&P company being in six different basins. It’s maybe about being in two, so they can put together that critical mass and expertise that allows them to effectively squeeze as much cost out of the system as possible, increase overall profitability, and lower capital requirements to do things. That’s not where things are heading; it’s where they are. You’re not going to see 100 private equity-backed portfolios out there anymore.”
OIL + GAS OUTLOOK 2021
H OW H A S RECENT VO L AT I L I T Y CHANGED THE OIL AND GAS MARKET?
The Texas Oil and Gas Association tracked 53 companies statewide and found a reduction in capital expenditure of $61.5 billion in the last six months. The number of active oil rigs in Texas dropped from 404 to 106. In August 2019, there were 234,900 upstream oil and gas workers in the state, and in August 2020, that number was just 168,800–a decline of 28 percent. “It’s been disruptive to the families, and it’s disruptive to the men and women in this industry,” says Texas Oil & Gas Association President Todd Staples. “However, the bright spot is that the industry continues to deliver a product that citizens rely on every day.” For some up-and-coming oil industry leaders, this bust has been defining. Although prices have recovered, in the moment, there were numerous unknowns. “It’s easy to look back now and see that we had hit bottom, but at the time, we really no idea where the bottom was,” says Bradley Williams, president and CEO of Elephant Oil & Gas. “No one could have imagined oil was going to go to negative $40.” But even in the most volatile of cycles, solidarity remains among leaders in the industry. When so much is out of their control, they are not likely to gloat their good fortune when others suffer. “We have been on the other side of that,” says Jay Allison, chairman and CEO of Comstock Resources. “I’m sympathetic toward everybody because we can all change seats in a hurry.”
T H E B AT T L E
That said, it wasn’t easy. Layoffs occurred. Bankruptcy filings rolled in. Rigs shut down. “It’s not been fun–I’ll start with that. When activity levels cratered, the industry was in a lot of turmoil. If people were over-leveraged, they were in a lot of trouble,” says Doug Dormer, chairman and CEO of Cardinal Midstream.
PAU L M O O R M A N
M a n a g i n g D i re c to r Ste p h e n s I n c .
When the prices dropped, the choices were clear, if difficult. “Companies had two choices: Either go into bankruptcy or clean themselves up pretty quickly,” says Bruce Bullock, director of the Maguire Energy Institute at SMU’s Cox School of Business. Before the demand drop, there were already doubts about much of the
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Year TXOGA was founded, making it the oldest trade association in the state
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JOHN PAUL MERRITT FO U N D E R A N D C EO P o ny O il
John Paul Merritt has been on a roller coaster of fame, success, and devastation on his way to founding Pony Oil. After being runner-up on season three of The Bachelorette, he had a series of financial misfortunes that left him bankrupt at 27. He considers himself a fighter, and he has built up Pony Oil to be a business that can thrive when the going gets tough. “As the prices came down, you had to be more sophisticated, more technical in everything you did. These factors have taken a lot of the competitors out of the market. In these current conditions, we are only seeing the best of the best survive.” Not one to get caught up in the race to the newest technology, Merritt prides himself on his resilience, building relationships, and thinking innovatively about how to put deals together. “My whole career, I’ve lived outside the box. The more uncomfortable it is for everybody…. that’s how I like it. There’s not much out there that scares me. I’ve been through it.”
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STAYING POWER
John Paul Merritt thrives in difficult business climates, and 2020 has certainly provided one.
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OIL + GAS OUTLOOK 2021
“THE U.S. HAS ALWAYS FIGURED OUT A WAY TO BECOME INNOVATIVE AND PRODUCTIVE. HISTORY SHOWS THAT. THE U.S. OILFIELD SERVICE AND SUPPLY INDUSTRY IS THE PREMIER ENERGY TECHNOLOGY INDUSTRY IN THE WORLD. AND IT WILL RISE TO THE OCCASION.” B R U C E B U L LO C K | D i re c to r of S M U ’s M a g u i re En e rg y I n s titu te
shale oil industry’s profitability. Now, experts say, shareholders are more concerned with productivity and cash flow rather than growth. They want a return on investment, not just an increased market share. The price shock of 2014, though, foreshadowed what was to come, and many companies had already made the transition to being able to survive at lower prices. “We’ve been through numerous valleys. We have been on some mountain tops. But you remember the valleys more than the mountaintops,” Allison says. “Most businesses didn’t set up to grow at $40 oil. It’s a new business model now.” For some, it meant transitioning their companies to maintenance mode rather than drilling new wells. For others, the low prices meant they had to be extra aggressive, putting together land deals, taking advantage of those who were exiting the business with the new prices. There was less oil to move for midstream companies, but the demand reduction meant that storage became a larger part of the business. Organizations that could diversify, lean on experience, and not be overleveraged were in an excellent position to survive. But for some, it wasn’t enough. “There are many natural gas producers and independents that were worth billions five years ago that are worth next to nothing today,” says Trevor Rees-Jones, founder and CEO of Chief Oil & Gas. “The overhead structure in the oil and gas business is all out of whack from where the market is for the product. The pay scale is way too much.”
T H E F O R E C A S T
Oil industry executives are, by nature, an optimistic bunch. Although the swashbuckling, hard-living, gambling wildcatter of previous
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generations may have given way to more polished professionals today, some common characteristics remain; the most successful industry players are innovative and confident. “People are getting back to work, and the oil fields are getting back to work,” Keffer says. “Crude at $40 is enough to keep people in business. It’s not ideal, and it’s not necessarily going to cause people to decide to resume their production strategy for the year, but it’s enough to keep the lights on and keep things going.” That less than ideal market may converge with increased social pressure to move toward cleaner energy, and oil and gas companies may be forced to adapt their model again. “Thirty years from now, the prominence of oil and gas to run the economy probably continues to get eroded,” says Paul Moorman, managing director at Stephens Inc. “With an upswing in solar and wind, I think you’re going to continue to see people try to leave their foot on that side of the line.” The future might mean fewer players in the industry, with a greater focus on high-value properties, coupled with a lower cost structure. Industry experts predicted before the pandemic that worldwide oil consumption would peak in 2030 as electric vehicles and alternative energy sources become significant factors. “Is [COVID-19] going to change the timeframe?” Denne wonders. “Is it going to bring it forward? Is it going to push it back? How much do you want to spend on infrastructure for producing a commodity for which demand may start going down?” Although there are still many questions, positivity abounds. “I am a very optimistic person,” Dormer says. “We are an industry full of problem-solvers, and the industry will persevere through the challenges.”
H OW H A S RECENT VO L AT I L I T Y CHANGED THE OIL AND GAS MARKET? “Everyone is looking at efficiencies. They are looking at processes, and they are internally evaluating up and down the supply chain in order to manage through the difficulties. Companies are taking great measures to ensure they are capable to manage through what has continued to be a protracted downturn. Our companies recognize that prior to being able to begin robust production, they have to work through the excess supply.”
TO D D S TA P LE S
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After a spectacular rise and fall, the father of Dallas’ fast-casual food scene is ready for his next big hit.
The Redemption of
Mark Brezınski story by BIANCA
R. MONTES
photography by JUSTIN
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A TALL ORDER
Brezinski is leading a massive U.S. expansion of one of the world’s largest udon restaurant chains.
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CLASSIC TAKE
The Japanese curry udon brings depth to the traditional dish with dashi, fish, and beef broths.
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ery day until I smelled like it. He told me the word curry itself means sauce—much like my nana and many Italians use the word gravy—that the curry leaf has somewhat of a nutty flavor and isn’t often in curry dishes, and the Japanese curry served at Marugame has a light, almost sweet heat that was influenced by Spaniards in the spice trade. Brezinski, who has traveled the world on culinary adventures with five-star chefs and used his palate to create dishes like the spicy tikka chicken (one of the most popular items on Velvet Taco’s menu), says he doesn’t consider himself to be an expert—and he’s definitely not a chef. His idea of making it in restaurants is to be seen as a successful businessman, much like his parents, who ran a pharmacy, or his Polish grandfather, who opened a butcher shop in New Jersey after immigrating to the United States. An introvert who’d rather spend time with his dogs, Brezinski needed a couple of attempts to realize marriage wasn’t for him. And he’s not the type of guy who will let you order for yourself—especially at one of his restaurants. Questions like “What do you want to drink?” are rhetorical. I was served his favorite, a blend of two iced teas. And when it came time to order, he curated a spread that included the Curry Nikutama udon bowl, shrimp and ribboned vegetable tempura, some seasoned grilled vegetables, and an egg salad sandwich from Marugame Udon’s Katsu Sando (Japanese sandwiches) menu. “You eat every day, but you die only every once in a while,” he tells me. Brezinski is a tad eccentric, but he damn well deserves the title of the “idea guy.” A lot is riding on the success of Marugame’s U.S. launch and expansion. Its failure would be the final nail in the coffin of Brezinski’s long-running career, and its success would be the perfect comeback after losing it all when his attempt to mainstream Indian food with Bengal Coast left him bankrupt.
AN EARLY PASSION FOR FOOD Brezinski’s love for food dates back to his childhood in the 1950s and ’60s. Most mothers back then stayed home and served up a hot meal every night, but his worked at the family pharmacy with her husband. Being creative in the kitchen came naturally to Brezinski, the youngest of five children. He would rummage through the pantry and refrigerator and create interesting sandwiches—so much so that he became known as the sandwich guy. In college, he realized that his passion could pay the bills; he lived with his housemates rent-free, in exchange for putting dinner on the table.
P R E V I O U S S P R E A D : B AC KG R O U N D : S H U T T E R S T O C K ; U D O N : J U S T I N C L E M O N S ,
At 6'4", he towers over most. But it wasn’t his considerable stature that caught my eye. It was the blithe spirit conveyed by a slightly crooked smile, revealed by a sagging face mask. Celebrated as the father of Dallas’ fast-casual food scene, Brezinski’s career has spanned four decades and touches some of the area’s most popular food chains. But you’d be hard-pressed to learn much about the man online, despite the fact that he has participated in more than 120 restaurant openings over his career and co-created brands like Tin Star, Pei Wei Asian Diner, Velvet Taco, and Banh Shop. “I’m a very private person,” he tells me as we settle into lunch to talk about his latest adventure, scaling Tokyo’s popular Marugame Udon with longtime friend Pete Botonis. A restaurateur who “expects people to know what he thinks without expressing it,” Brezinski has a profound understanding of food and the culture around eating. He wastes no time going into a detailed lesson about curry after I confess that while in college, I ate curry udon ev-
T H I S S P R E A D : C U R R Y: J U S T I N C L E M O N S , U D O N N O O D L E S : S H U T T E R S T O C K , S N A P S H OT C O U R T E S Y O F M A R K B R E Z I N S K I
Even in a line of customers wrapped around a Carrollton strip mall eager to get inside the newest outposts of one of the world’s largest udon concepts, it was easy to pick Mark Brezinski out from the crowd.
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PEI WEI TRIO
P R E V I O U S S P R E A D : B AC KG R O U N D : S H U T T E R S T O C K ; U D O N : J U S T I N C L E M O N S ,
T H I S S P R E A D : C U R R Y: J U S T I N C L E M O N S , U D O N N O O D L E S : S H U T T E R S T O C K , S N A P S H OT C O U R T E S Y O F M A R K B R E Z I N S K I
The pan-Asian chain’s first three hires (from left): Pete Botonis, Shanna Metcalf, and Brezinski.
It
WA S A M I S E R A B LY C O L D N I G H T
in late January 1991 when Brezinski made the drive from Houston to Dallas for a job interview with Rick Federico. At the time, Federico worked with Chili’s Grill & Bar to open a North Texas location of a popular San Antonio Italian restaurant. It was a low point in Brezinski’s life, he writes in an early draft of an autobiography he shared with me. He was 35 years old, freshly divorced from his first wife, and still recovering from surgery to remove a benign brain tumor. With just $120 in his pocket, after selling his first business for “peanuts,” all he had to offer was a master’s degree from the School of Hotel Administration at Cornell University and experience managing Nino’s, a well-liked Italian trattoria, for legendary Houston restaurateur Vincent Mandola. The interview didn’t begin well—you’ll have to read the book one day for all of the details—but let’s just say he lost track of time while golfing with a buddy and showed up dressed for the links— soft spike shoes and all. But a week later, he was hired to join the management training program to
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launch the first North Texas location of Phil Romano’s Macaroni Grill. He went on to help establish a handful of other concepts, and “little by little became known as the guy you went to if you wanted to create a concept,” he says. That worked well for someone who admits he has little patience when it comes to staying in one place too long. “That fuse fizzles out when things become less creative and repetitive,” he says. “I start to feel like a fish out of water, always thinking, ‘What else can we do to make it fun?’” It was that kind of thinking that ended his career with Brinker International (which owned Macaroni Grill and Chili’s) after working with Romano for “four months of hell” to roll out EatZi’s, and caused him to walk away from Pei Wei after seven years because he grew bored with a menu and was itching to do something new. “If you’re not happy, don’t infect the people around you with your unhappiness,” Brezinski says, punctuating the thought with eight telling words: “I left with a nice pile of cash.”
He
KNOWS WHAT I T’S LI K E TO FAI L
and fall—hard. After he pumped a lot of his own money into opening Bengal Coast, Brezinski’s beloved restaurant closed in 2010, after a rough two and a half years. The location in The Centrum, the struggling economy, and the progressive menu were all a bit too much for Dallas at the time. “I lost my ass because I was trying to create the P.F. Chang’s of Indian food,” he explains. “I don’t care who you are—failure hurts.” The loss hit him hard, and for a man described by friends as the epitome of optimism, he fell into a deep funk. “You couldn’t find me for two years,” he says about the dark time. Brezinski—whose inthe-works autobiography recounts his life from growing up in small-town Little Falls, New Jersey, to this final chapter—says he wants the story to chronicle his failures to help other business leaders realize that missteps are just part of the journey. “I’m still proud of Bengal Coast, despite it going bankrupt,” he says. His return to restaurants has been as triumphant as his start—and it all began with humbling himself in one of his famous “mini-novel” emails to a few close friends in the industry to see if anyone needed help. Front Burner Restaurants CEO
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AT VELVET TACO Brezinski with chef Mark Miller and Teri Scroggins, who helped him get his first job at Brinker in 1991.
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FRESH TAKE
B R E Z I N S K I : J U S T I N C L E M O N S , S N A P S H OT C O U R T E S Y O F M A R K B R E Z I N S K I
At Marugame, udon noodles are kneaded, boiled, and cooked right in front of customers.
Randy Dewitt answered the call. The two first met years ago, before Dewitt sold his Rockfish Seafood Grill to Brinker International. They reconnected after Brezinski sold Tin Star. “I remember thinking about how innovative and creative he was and just nurtured our relationship over the years,” Dewitt says. “When it came time for me to create Velvet Taco and put together the team, Mark came to mind because it was my first casual—and he is one of the early pioneers.” But it isn’t just Brezinski’s history in the space that makes him attractive to restaurateurs; it is his understanding of food and flavor. DeWitt explains: “Have you ever watched that Netflix series Chef’s Table when they show these scenes of someone so focused on what they are doing? That is Mark. It is not just food. He is the entire experience. He will walk in and say the music is wrong and you have to agree. People who work with him recognize his level of genius and want to please him.” YUM! Brands executive Christophe Poirier felt the same way when he reached out to Brezinski to help launch Banh Shop, a fast-casual eatery highlighting Saigon street food, focusing on the Vietnamese banh mi. “Many creative guys, they are working on renovation; they take something that exists, then polish it and make it new. Not Mark,” Poirier says. “His capability is to create a new blue ocean.”
ON THE MENU
Here are some of restaurateur Mark Brezinski’s favorite creations.
CHICKEN TIKKA TACO
PORK MEATBALL BANH MI
CHEESEBURGER TACO
“The chicken tikka taco at Velvet Taco was kind of my way of keeping Bengal Coast alive in some small way. I had to convince the team at Front Burner, but when we pulled the trigger on that becoming one of our early on WTFs. It took off like wildfire, and it became the No. 1 selling taco company-wide. In a concept like Velvet Taco, you can take some chances, and this one worked quite well!”
“At Banh Shop, we created a pork meatball sausage banh mi, giving a nod to the popularity of pork in the Vietnamese community and creating a crossover-type sausage ‘burger’ so we would have a point of difference. One day, we opened up Restaurant Hospitality magazine and found that we had been voted as having ‘the best meatball sandwich in America’ for our pork meatball banh mi.”
“At Tin Star, we created the cheeseburger taco by cooking the burger, cutting it in half, and folding each half in a semi-circle to match the outline of a folded tortilla. Dotty Griffith put a photo of it on the cover of the Guide and sales hit the roof! When Randy Dewitt asked me to help with Velvet Taco, he wanted to be sure we resurrected the cheeseburger taco, and it still is on the menu today.”
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In
W H AT H E CA L L S H IS “ L AST H U R -
rah” in the business, Brezinski is once again teaming up with early partner Pete Botonis. The two have known each other for more than 25 years and first met while working at the Southwestern-inspired Canyon Café and later reconnected at Pei Wei. This time around, Brezinski was the one to pick up the phone when recruiting the right partner to help scale Marugame Udon throughout the United States. Backers of the brand, which has more than 1,000 locations in 13 countries, had reached out to Brezinski to help it gain a foothold in Texas. He now has an agreement to oversee a five-year expansion of the chain in the entire U.S. He and Botonis opened the first area location in late August and plan to open a second by the end of the year on Greenville Avenue. From there, they plan to open eight more in the first half of 2021 and spend the rest of the year growing the franchise side of the business. They are the yin to each other’s yang. “Mark is the artist of brands when it comes to conceptualizing,” Botonis says. “The people and product are the most important to him—and then policy and procedure. It is not unlikely for him to be at the restaurant on Saturday and Sunday when most executives are at home. He is hands-on.” Brezinski likens his role at Marugame to that of a tailor. “They brought me a suit that they love. They didn’t want to get rid of it, but it didn’t fit them anymore. The fabric was 100 percent useable, but the style needed a little tweaking, so I let it breathe,” he says. Some of the alterations he has made to the concept include opening up its typically cramped layout and exposing the kitchen. He also added new menu items, like the trendy Katsu Sandos. Given his passion and genius, many of Brezinski’s peers don’t believe he will walk away from the business at the end of his contract with Marugame. But the restaurateur says ultimately moving on to a place in life where he can share his experience is where his heart is at. “I don’t want to get emotional,” he says when asked about what he wants people to learn from his story. “I want people to have hope—to persevere. Read my story and realize you can have no money and then have money again. You can have no job and have a job again. You can be around people you think are better than you and realize you’re just as good. Learn to be who you are and who you were meant to be—and be OK with that.”
NOVEMBER 2020
035
10/1/20 11:54 AM
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NOVEMBER 2020
FIELD NOTES
N O R T H T E X A S B U S I N E S S A D V I C E , A N A LY S I S ,
a n d
C O M M E N TA R Y
LESSON LEARNED
“I Own My Career” Chasity Wilson Henry, Senior Vice President, General Counsel, and Corporate Secretary C E C O E N V I R O N M E N TA L C O R P.
SHUTTERSTOCK
“i’ve been fortunate to have had many mentors and sponsors throughout my career who have advised me. The best advice I have received is that I own my career. That has always resonated with me because it is very empowering. Regardless of what my professional goals are, the sense of ownership I feel for my success drives me to ensure that I am always learning, growing, and moving forward. If those things are not happening, it’s on me to figure out how to get back on track. I seek out mentors and sponsors to support those goals, but at the end of the day, I’m responsible for my success or failure. Remembering that fact and behaving accordingly has been a significant driver for me. —As told to Christine Perez
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NOVEMBER 2020
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FIELD NOTES
STANDING TALL
The 16-story Epic I serves as a gateway to Deep Ellum from downtown Dallas.
R E A L E S TAT E
Reinventing Deep Ellum Through Design With The Epic, Perkins and Will architects strive to honor the rich traditions of the neighborhood’s past, while taking it into the future. story by BIANCA R. MONTES
O
one of the greatest gifts an architect can be given is a blank canvas. But imagine that beneath the clean slate lies deep roots that were planted by former slaves who settled in the neighborhood after the Civil War, historic walls touched by visionaries like automobile pioneer Henry Ford and cotton gin manufacturer Robert S. Munger, and a soul intertwined with iconic musicians and artists. That was the opportunity the Dallas studio of global architecture firm Perkins and Will was given when it was tapped to design The Epic, a mixed-use development from Westdale Real Estate and KDC in historic Deep Ellum. Considered a game-changer for the neighborhood on the eastern edge of downtown Dallas, the project has already secured a huge office lease from Uber—not bad for an area that had been predominantly known for its quirky shops and active nightlife.
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9/30/20 10:47 AM
I M AG E S C O U R T E S Y O F P E R K I N S A N D W I L L
FIELD NOTES
The Epic consists of a 251,000-square-foot office building (Epic I) and The Pittman Hotel, both of which were designed by Perkins and Will, and a 26-story apartment tower, developed by Westdale and Streetlights Residential and designed by LRK. Perkins and Will also designed the Epic II, which will house Uber. The company is subleasing out some of its temporary space as it battles through the pandemic, but still plans to occupy the 25-story Epic II and two floors in Epic I. Ron Stelmarski, design director at Perkins and Will, says the process began by asking: “How do you pose this much square footage onto a space without undermining the integrity of what’s already there?” In most urban centers, developers will take a prime piece of real estate and build right in the center of it, he explains. Those behind The Epic wanted to create density around the edges to preserve the neighborhood’s center. “But I see this project as a real fulcrum,” Stelmarksi says. “It is showing that you can do both. It’s a hinge between connecting to the broader sense of the city. Many masterplanned developments become all about the edges, and [developers] like people to walk around it but not through it. This one is very permeable, and I think that’s something that hopefully can be learned from.” Stelmarski, who moved to Dallas in 2001 after spending about a decade at Perkins and Will’s Chicago office, says being somewhat of an outsider allowed him to look at Deep Ellum with fresh eyes. He immediately latched onto the idea that The Epic could mend back together what had been bisected in the neighborhood over the years. “We used this almost scientific understanding that place keeps things woven together,” he says. For example, 80-foot-wide cuts were made through Epic I to allow for sightlines from the DART line through the development to Elm Street, where the historic Knights of Pythias Temple was recently redeveloped into The Pittman Hotel, which carries a Kimpton flag. The structure was seen as a jewel, says Kristin Winters, senior architect at Perkins and Will. “It offered us the opportunity to not have to tear down any of the existing fabric,” she says. “We were able to preserve what’s great about Deep Ellum and build around the edges.” Originally designed in 1916 by prominent Black architect and son-in-law of Booker T. Washington, William S. Pittman, the hotel serves as a hinge point that links the older one- and two-story buildings along Elm Street and the 16-story glass Epic I.
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Although most structures in Deep Ellum were built of load-bearing masonry, the Pythias Temple is supported by steel, with wood construction as a backup—just like Epic I. “It’s part of the lineage of taking advantage of what’s been there, which was always a sense of straightforwardness, and that was the beauty of it,” Stelmarski says. Perkins and Will highlighted Epic I by lining the building blocks’ undersides with lights, using softer colors on the tower’s fins to evoke depth and movement and low-reflective glass to keep it transparent. Epic II, which is still under construction, will continue the district’s evolution and blend in more with buildings in the central business district. “At Epic I, it was shifting and moving to create a scale relationship between Deep Ellum and downtown,” Stelmarski says. “Epic II, because it is much taller, is carved and shaped so that when you’re standing down by the hotel and looking through the slot between the residential and Epic I, you’ll still see the downtown skyline. We always wanted you to get a sense that you were in the city.” Although Stelmarski couldn’t reveal specifics about what’s next, he did hint at potential plans. “We have this really interesting map we made. If you take the [DART] Green Line from our office, which is the beautiful Dallas High School on Bryan Street, right next door is Bryan Tower, which will be workforce housing. If you keep taking the train, you will arrive at The Epic, pass Hope Lodge, go by the Baylor Administration Center, and then arrive at Fair Park. For us, we’re seeing a whole range of project types that are influencing this part of town.”
V E R S AT I L I T Y
Other projects in the Perkins and Will portfolio The Richards Group When Stan Richards approached the firm to design his advertising agency’s global headquarters, he made it clear that his goal was to preserve and enhance the company’s egalitarian culture. It was achieved with a transparent, open office. Elevators were shifted to the side, allowing a soaring atrium to be at the building’s heart. Hope Lodge Designed to be a home away from home for cancer patients and an office for the American Cancer Society, Perkins and Will used natural and healthy materials to create a warm, inviting, and non-toxic environment. Baylor Scott & White Health The 300,000-square-foot, $70 million administrative office is being built by KDC on the eastern edge of Deep Ellum. The design incorporates light monitors and light wells within the roof to bring natural light into the building’s core areas.
ROOM TO BREATHE
Baylor Scott & White Health’s new administrative office will sit on the opposite side of Deep Ellum from The Epic and feature massive 125,000-squarefoot floorplates.
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FIELD NOTES
ON TOPIC
What are your key strategies for leading a business through uncertain times? edited by CHRISTINE PEREZ
040
illustrations by JAKE MEYERS
GARY KELLY
APRIL ANTHONY
JOHN GATES
CEO SOUTHWEST AIRLINES
CEO E N C O M PA S S H O M E H E A LT H AND HOSPICE
CEO Markets, U.S. and Canada JLL
“Preserving the health and safety of employees and customers is our top priority. We also have to make sure we have plenty of liquidity, cut all non-essential spending, raise supplemental capital, secure federal assistance, and restructure routes to adjust to dramatically reduced demand. We are extraordinarily wellprepared, with a strong, resilient culture, modest debt, plenty of cash, low operating costs, and loyal fans of Southwest.”
“I believe maintaining a peoplefirst attitude is particularly important in times like these. The reality is our people are still the keys to our success, and they, like our bottom line, are under a great amount of stress. As leaders, it’s important to make sure that you are putting people first and trying to make accommodations for them that show you truly care. I believe if we care for our people, they will care for us.”
“In uncertain times, you double down on connectivity with leadership teams and your people through frequent, clear messaging and communication. It’s crucial to convey optimism broadly—‘Things are getting better daily,’ for example. I ask people all the time for their favorite silver lining to help them focus on the positive. Downturns take their human toll, so leading with empathy really matters.”
NOVEMBER 2020
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DCEOMAGAZINE.COM
9/29/20 9:22 AM
IT’S EASIER TO PLAN FOR THE FUTURE WHEN YOU HELP SHAPE IT. Stephens recognizes the many oil and gas business leaders in the North Texas area. These visionary individuals have truly helped shape the extraordinary energy industry in North Texas, which has benefited our state, our country…and the world. Keith Behrens 214-258-2762 keith.behrens@stephens.com Paul Moorman 214-258-2773 paul.moorman@stephens.com Brad Nelson 214-258-2763 brad.nelson@stephens.com Charlie Lapeyre 214-258-2784 charlie.lapeyre@stephens.com Jim Wicklund 214-258-2798 jim.wicklund@stephens.com 300 Crescent Court, Suite 600, Dallas, TX 75201 STEPHENS INC. • MEMBER NYSE, SIPC
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10/5/20 10:55 AM
FIELD NOTES
2.
THOUGHT LEADER
Evaluating Your Corporate Priorities
DOES IT MIRROR YOUR CUSTOMERS? As businesses wrestle with an extended period of uncertainty, wavering consumer confidence, virtual operations, and social justice actions, having women on boards can provide insights on opportunities for innovation and more positive work environments.
3.
O
I M AG E C O U R T E S Y O F T O Y O T A M O T O R N O R T H A M E R I C A
Public corporations with women on their boards outperform in profitability, productivity, and workforce engagement.
1. IS YOUR BOARD UP FOR THE CHALLENGE? As corporations adapt to changing consumer needs and expectations, a competitive advantage includes a board with experts in digital marketing, financial acumen, artificial intelligence, cybersecurity, sustainability, and global supply chain.
ur nation is emerging from a double crisis—the pandemic and social justice reawakening. Now, more than ever, there is an urgent need for corporate boards and C-suite executives to reexamine their competitive strategies. They must do what they can to quickly recover profitability, adapt to rapidly changing customer needs, drive accountability and action on diversity and inclusion, and invest in innovation for the future. Slashing fixed costs and headcounts is not enough. Successful, forward-thinking companies are looking for new ways to grow revenue and embrace an inclusive mindset in all that they do for their customers and communities. A critical place to begin is by making sure all voices are represented at the leadership table in corporate boardrooms. Here are some things to consider as you formulate your strategies.
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DO YOU MEASURE UP WELL COMPARED TO OTHER BUSINESSES? In 2019, companies in the Russell 3000 Index exceeded 20 percent female directors. Texas trailed at 17 percent. Where does your company stand?
4. ARE YOU DOING ALL YOU CAN TO EXPAND YOUR BOARD POOL? Challenge yourself to expand your network. Reach out to CPA and law firms for recommendations of senior-level executives and retired women partners. Review boards of nonprofits and local business schools to identify additional C-suite women. Attend events (such as the Dallas 2020 Women on Boards Conversation on Board Diversity this November). Get involved with organizations that support women and minority board candidates. This is an opportune time to welcome highly qualified, experienced women and people of color to boards, leveraging their talents and experience to accelerate your competitive edge.
Tracey Doi is CFO of Toyota Motor North America. She also serves as a national director of 2020 Women on Boards.
DCEOMAGAZINE.COM
9/22/20 9:51 AM
ADVERTISEMENT
LESSONS LEARNED FROM WICK ALLISON
On September 1, our friend and the co-founder and chairman of D Magazine Partners and the Coalition for a New Dallas, Wick Allison, died due to complications with bladder cancer. Here are 42 lessons we can learn from him—a man who pushed Dallas to be better, every day. 1 Intellectual honesty is critical, especially as you get older.
2 There is no conflict of interest. There is only interest.
3 Read Jane Jacobs’ The
Death and Life of Great American Cities immediately.
4 DO NOT use books or
magazines as coasters for your drinks.
5 Stop fooling around trying to be cute. Get to the point.
6 Show up, especially for your employees and your friends. (Wick went to every employee’s parents’ funeral that he could make, and more.)
7 Local politics is what
matters most, so get to know your City Council and City Hall stat.
8 Dallas will never be a
truly great city until we remove the infrastructure barriers that divide and segregate, starting with I345.
9 Lucky’s Cafe is the best place for weekend breakfasts, just ask his friend Pam Gerber.
10 Back ache? Find a yoga teacher immediately.
11 You can’t ‘help’ anyone until you have dealt with your own issues.
12 Laugh, loudly. 13 Every great city should have a great city magazine.
14 It’s okay to change
your mind, and yes, even to admit you were wrong.
15 It’s also okay to spend
your entire weekend working on the Saturday New York Times Crossword, and subsequently curse at Will Shortz.
16 Once you’ve built a
brand, don’t mess with it. (I.e. do NOT meddle with the D logo. Except feel free to make it bigger.)
17 If you’re going to
commit to do something, do it full out or do not do it at all.
18 Demand excellence from your people.
19 Majoring in Journalism
is a waste; instead major in something that teaches you about the society you live in. You’ll learn the journalism part later.
20 Walk quickly. You have places to be, don’t you?
21 Don’t feel the need to fill the silence.
22 Don’t, whatever you
do, pop popcorn in the D office.
23 If you ever get pulled
over for speeding on a highway, just tell the officer that you were “going with the flow of traffic.”
24 “Strangely enough it all turns out well.” [“How?”] “I don’t know. It’s a mystery.” - a favorite quote of his from Shakespeare in Love.
25 Do not be afraid to
pick up the phone and call someone.... ever.
26 Track every penny,
every sale, every yes.
27 Know your value, know your brand, know the answer to every question and if you don’t know, follow up with the correct answer immediately.
28 How many no’s have you had today?
29 Persistence pays. 30 Doctors bury their
mistakes, publishers put them out there for all the world to see.
31 Always bring a pen and notebook.
32 No Latinates!
33 If you don’t always have at least one lawsuit going, you’re doing it wrong.
34 A number means nothing without context.
35 Every character in your story is another stone in a satchel you are carrying up a mountain.
36 A raspberry adds 10 points.
37 Cities should be built around people, not cars.
38 Hire people who have worked on political campaigns or who were part of an extracurricular or sports team in high school.
39 Stop watching cable news.
40 Ban the word “metroplex” from your vocabulary.
41 Live a life you’ll be proud of on your deathbed.
42 Give a damn about the place you live, especially if it’s Dallas.
42REALESTATE.COM • 214.244.9300 WHAT ARE YOUR LESSONS LEARNED FROM THE IMPORTANT PEOPLE IN YOUR LIFE? PLEASE SEND THEM TO IDEAS@42REALESTATE.COM
We have always thought outside the box, but now our logo represents that fact. We have built boxes in 26 states and in Canada by thinking outside the box. We have restored and saved over 50 buildings (boxes) by thinking outside the box. We have built industrial boxes, retail boxes, office boxes, and cold storage boxes. We also invest in land for all the above boxes plus single family, multi-family, fitness centers, mini-warehouse, etc.
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9/30/20 2:05 PM
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NOVEMBER 2020
OFF DUTY THE PERSONAL SIDE
o f
DFW BUSINESS LEADERS
ART OF STYLE
P H OTO G R A P H Y C O U R T E S T O F D R . S I M A L P A T E L
STRUT HEALTH CEO AND FOUNDER DR. SIMAL PATEL IS AT HOME IN THE HOSPITAL AND THE BOARDROOM.
HEALTHCARE CEO
ER physician Dr. Simal Patel founded a telemedicine health clinic in Dallas.
DCEOMAGAZINE.COM
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OFF DUTY
LIFELONG PASSION
Eddie Gossage has been riding motorcycles since he was 13 years old.
continued from page 45
FASHION ESSENTIALS: “I never leave home without my watch and my phone. I have a watch collection that I’ve curated over time. One of my favorites is the Omega De Ville, as it is simple with a classic, blue leather band.” FAVORITE STORE: “My go-to shopping destination can range from Neiman Marcus to Zara.”
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GOING THE DISTANCE
Gossage says there are few small towns or back roads he hasn’t seen from his motorcycle.
HITTING THE ROAD
He says he is blessed to combine his love of motorcycles and auto racing in his career.
M Y FAVO R I T E T H I N G
Born to Ride Texas Motor Speedway President Eddie Gossage has traveled by motorcycle through 48 states. “growing up, a friend of my older brother’s had a paper route, and he would deliver the newspaper from his motorcycle. I thought it was the greatest thing. I’d run out there each morning to see him go by my house. I remember thinking to myself, ‘I’ve got to get one of those things.’ I started saving money at 13, and by the end of the summer, I had mowed enough lawns to buy my own bike. It was a little Honda SL70, 70cc. And it was sweet. I felt like I could do anything. All of a sudden, the world was so much bigger. I wasn’t allowed to ride very far, but it just opened my universe. And I’ve been riding ever since. ... I have ridden through all 48 mainland states. Seldom does someone mention a small town I haven’t been through or road I haven’t been on across this country. I love riding my motorcycle and visiting sites all over America. Mount Rushmore. The Grand Canyon. New York City. The Florida Keys. The Pacific Coast Highway. The Appalachians. This country has so much to offer. ... I’m a long way from being that little boy standing in the driveway. But the passion for motorcycles remains.”— As told to Ben Swanger
I M AG E S C O U R T E S Y O F E D D I E G O S S A G E
WHAT I DO: “I’m an emergency room physician and the CEO and founder of Strut Health, a start-up digital health clinic that brings telemedicine to treat some of life’s most common problems.” STYLE ICONS: “My style is influenced by the likes of Tom Ford and David Beckham. I also follow Spanish and European influencers. To me, they all define the fit, the swagger, and the strut for men’s style. ON THE JOB: “My work attire has to be versatile, as I am always in and out of the hospital. I can regularly be seen in my Figs Scrubs with a tailored Medelita lab coat in the hospital, or a tailored blazer and a pair of slacks when running to a business meeting.” STYLE DEFINED: “I like to be simple and comfortable, yet tailored in my style. With a busy schedule, I like to be in something I can wear at the hospital, to a meeting, and a night out.” GO-TO LOOK: “My go-to look includes a pair of dark, well-tailored jeans, along with a t-shirt and a blazer—all paired with a classic loafer.”
AMERICA THE BEAUTIFUL
Scenic places like Zion National Park in Utah are best experienced by motorcycle, Gossage says.
DCEOMAGAZINE.COM
9/29/20 9:49 AM
READY TO GET DOWN TO BUSINESS? GO PUBLIC. â„¢
CEO on KERA invites you to the table as renowned journalist Lee Cullum interviews prominent chief executives from North Texas and beyond. Go to explore leadership styles and ethics. Go for insight into what makes companies successful. Go for the engaging conversation. Go Public.
WATCH FULL EPISODES AT KERA.ORG/CEO OR ON THE FREE PBS VIDEO APP.
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OFF DUTY
COASTAL COMMUNITY
Cinnamon Shore rental options range from condos to sixbedroom homes.
W E L L T R AV E L E D
Port Aransas The small coastal town on Mustang Island offers some of the best food and fishing in Texas, says Willie Hornberger, partner at Jackson Walker. CHILL TIME
story by CHRISTINE PEREZ
Mustang Island, which offers 18 miles of shoreline, is more secluded than South Padre Island.
FLYING HIGH
READY TO GIG
“Floundering” boats provide a stable platform and can easily navigate shallow waters.
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SWEET TREATS
Finishing touches at Lisabella’s Bistro include Crème Brûlée and Hallelujah Chocolate Cake.
DCEOMAGAZINE.COM
9/29/20 10:21 AM
R E S O R T P H OTO G R A P H Y C O U R T E S Y O F C I N N A M O N S H O R E , P O R T A R A N S A S T O U R I S M B U R E A U , AND B I A N C A R . M O N T E S . HORNBERGER: J A K E M E Y E R S
Parasailing is just one of many recreational opportunities in Port Aransas.
OFF DUTY
MORNING WAVES
On the northeast tip of Mustang Island, Port A provides direct access to the Texas Gulf Coast.
R E S O R T P H OTO G R A P H Y C O U R T E S Y O F C I N N A M O N S H O R E , P O R T A R A N S A S T O U R I S M B U R E A U , AND B I A N C A R . M O N T E S . HORNBERGER: J A K E M E Y E R S
H
having grown up near the pristine waters of northern Lake Michigan, I’m an admitted beach snob. And, having been to Galveston, my expectations for Port Aransas were on the low side. So, it was a bit of a shock when I first took in the resort town’s gorgeous ocean shoreline. Situated on the 18-mile-long Mustang Island, Port A surprised in other ways, too, with a host of recreational opportunities that ranged from building sandcastles and cruising around in beach buggies to watching for birds (and the occasional alligator) at Leonabelle Turnbull Birding Center. But the best way to experience this vacation spot—a seven-hour drive from Dallas, factoring in obligatory stops at Buc-ee’s and for kolaches in West—is on the water. There’s parasailing and dolphin tours and sunset cruises, but the biggest draw, no surprise, is the fishing. For novice anglers, Captain Jackie with Fish Tales starts at the beginning, teaching how to cast lines and catch baitfish near the jetties before moving deeper into Corpus Christi Bay. A host of charters will take you into the Gulf of Mexico to fish for Red Snapper around the reefs or farther offshore for Mahi-Mahi, Marlins, Tunas, and Amberjacks.
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For an unforgettable experience, go gigging for flounder under the cover of night. Although he has been doing it for years, our exceptional guide, Tray Clark, still has unbridled enthusiasm for sharing his love of “floundering” with others. It involves quietly coasting over very shallow parts of the bay, with the underwater world below illuminated by lights that shine down from the boat. Then, once you spot a flounder camouflaging itself by lying flat on the sand, you spear it with your gig. After my travel mates and I speared about a dozen flounder (and a sheepshead and a couple of black drum), we cruised to a deeper spot of the bay and sat still under the moon and stars while dolphins swam and jumped all around us. It was pure magic. For getting around, visit Scott Tanzer at Port A Beach Buggies, who will set you up with one of his tricked-out golf carts. They’re allowed on city streets—just don’t drive them on the dunes or south of Avenue G on Highway 361. For accommodations, nothing beats Cinnamon Shore, an oceanside community that evokes Cape Cod with an island influence. Choose from condos, townhomes, cottages, or luxurious six-bedroom homes. Along with a coffee shop, market, and liquor store, there are enough on-site activities (three pools, surf lessons, yoga or bonfires on the beach) and food options (including the coastal cuisine at Lisabella’s Bistro, known for its Mermaid Soup), you’ll never need to leave. But then you’d miss out on the impressive dining opportunities in town. Visit Roosevelt’s at the Tarpon Inn and try the jumbo lump crab cakes, quail tails, or shrimp and tenderloin tower, and the restaurant’s signature Key Lime Pie for dessert. At Tortuga’s Saltwater Grill, standouts include the jumbo gulf shrimp cocktail, Poke Nachos (incredible!), Shrimp and Grits, or seared scallops with a carrot-ginger coulis. If you want a break from seafood, try the Blackand-Bleu filet. Don’t leave the more casual Stingrays Taphouse & Grill without trying the divine fried Nutter Butter cookies with ice cream. And GULF LIFE The water is just a at Castaways, the Alotta Cowalkover away from lada cocktail will put an exoceanside resorts in Port A. (But skip the clamation point on your vacacart and walk.) tion vibe.
T R AV E L T I P S
Reconnecting with nature Jackson Walker tax attorney Willie Hornberger grew up near Laredo but spent summers in Port Aransas, where his family had a vacation home going back to the 1930s. He has continued the tradition with his own children, instilling in them a love for the outdoors. For dining, he recommends La Playa Mexican Grille and Richard’s Fish (a sautéed filet topped with blue crab, avocado, almonds, and bacon) at Jay’s Seafood and Spaghetti Works. To really get away from it all, head south to Padre Island National Seashore. “It’s a 70-mile-long secluded beach,” Hornberger says. “It’s a place you can go to forget about any challenges at work or in life.”
NOVEMBER 2020
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OFF DUTY
SERIAL ENTREPRENEUR
“LET IT GO”
One of the pieces in Ellermeier’s new series, “In the Time of Coronavirus.”
PURSUITS
The Great Escape
the author of her own memoir, Finding the Exit, Painting is the stress-relief method of serial entrepreneur Lea Ellchoice for Lea Ellermeier, an entrepreneur behind a string of health tech companies. ermeier always considered writing to be her creative gift. story by KELSEY J. VANDERSCHOOT But when a therapist suggested that Ellermeier pick up a brush to help release the stresses of being a CEO, wife, and mother, she stumbled upon a new passion. “It was very much a meditation because “OUT OF OPTIONS” I let go of a lot of the things that were heavy on Another piece in the “Coronavirus” series. my mind,” Ellermeier says. “I was looking at color Ellermeier prefers to and shape, and then I realized that I enjoyed it.” work in acrylics. The CEO of 2C Medtech toyed with several techniques and many a color palette, asking her artist friends for tips on mixing hues and creating new shades, but she has never taken formal classes. “I didn’t really want it to be anything more than something [I do] for me,” Ellermeier says. Even so, her brightly colored acrylics and her abstract style have caught the eye of many across the country since she began
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posting her work on Facebook and a personal website. At first, she gifted her paintings to interested friends. “I started with really small paintings—four inches by four inches on little blocks of wood— and people really liked them,” Ellermeier says. “I thought, ‘If I can bring a little beauty and joy into somebody’s world, why not?’ And it makes me feel good to do it.” When she moved up to larger canvases during the pandemic, people began asking to purchase works from her new “Coronavirus” series. Rather than naming a specific price, Ellermeier recommended an amount that interested buyers could donate to the North Texas Food Bank. And when even that was too much of a burden for some, she made other arrangements—once asking a financially strained college student in Washington, for example, to donate canned food to her local food bank in exchange for a piece. “I’m not really here to make money on this,” she says. “To me, it’s just about sharing my own joy.” The entrepreneur—who sold one of her early ventures, Lingualcare, to 3M Co.—regularly paints from the confines of her kitchen, though she soon hopes to have a designated studio. “I’d like to paint bigger canvases, and that requires more space,” she says. She has also begun looking into ways to sell prints of her paintings online—that and the novel she’s currently penning will be her next artistic endeavors. Painting, Ellermeier says, has helped her to see herself as being more multifaceted, to take herself less seriously, to flex her creative muscles, and to feel the satisfaction of completing something quickly—which often escapes her at work. “For many, many years, I let what I did define who I was,” she says. “Painting has given me that extra layer of knowing that I’m actually more than just that thing, and so I don’t have to live and die on that thing. … It reminds me that I’m a whole human.”
P H OTO G R A P H Y C O U R T E S Y O F L E A E L L E R M E I E R
Lea Ellermeier sold one of her early ventures, Lingualcare, to 3M Co.
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OFF DUTY
FAMILY FOCUS
Thuraisingham grew up with parents who prioritized her education, sending her to a private catholic school.
BRIGHT EYES
Pictured at age 3 in Sri Lanka, Thuraisingham would grow up to become a pioneer for women in cybersecurity.
ROOTS
BHAVANI THURAISINGHAM Founding Executive Director of the Cyber Security Research and Education Institute T H E U N I V E R S I T Y O F T E X A S AT DA L L A S
as told to WILL MADDOX illustration by JAKE MEYERS
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bhavani thuraisingham’s work is at the intersection of cybersecurity, data science, and artificial intelligence. Her expertise led her to help mine data on terrorists for the government after 9/11. Today, she’s a strong advocate for women in cybersecurity and data science. “I’m Tamil, from Sri Lanka. I was born there and lived there for my first 20 years. Ours was a typical Sri Lankan family. My parents were somewhat conservative but also very dedicated to a very strong education for their daughters. Some of my relatives had boyfriends, and none of them married their boyfriends. I saw how things were very hard for them. Today, it’s different, but we are talking about almost 50 years ago. “I decided early on, when I was 14, not to have a boyfriend and just focus on my studies. So, my parents arranged a marriage for me. My husband
also decided to marry someone that was arranged for him. My aunt and uncle brought my husband to the university, and we had lunch. That evening, my uncle said that my husband was interested in seeing me again the next day. I only had a day to decide, and I said yes because I was quite happy. “We got married, and then I finished my Ph.D. at the University of Bristol and the University of Swansea. We moved to the United States in 1980, when my husband got a position at New Mexico Tech Petroleum Discovery Research Center. I was offered a tenure track position, but I turned it down because my son was around eight months old at the time, and I wasn’t sure how long we would be in New Mexico. So, I got a visiting faculty position instead. My husband and I have been married for 45 years and are proud parents and grandparents.”
NOVEMBER 2020
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STATE OF
DFW
A Regional Economic Development Update SHUTTERSTOCK
As Dallas continues to attract more businesses and people, surrounding cities are also benefitting from its growth. CEOs and their employees who crave a small-town feel, as well as businesses looking for tax advantages and other perks, are quickly claiming space in Dallas’ suburbs. Here, local economic development experts reveal why their city is in demand for corporate and residential development.
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SPECIAL ADVERTISING SECTION
STATE OF
DFW
Town of Addison AddisonED.com EDC Contact: Orlando Campos 972.450.7034 Population:
16,263 County:
Dallas Major Businesses: Mary Kay Cosmetics, Concentra, Hitachi Consulting, Occidental Chemical, Supreme Lending, Trintech, Authentix, Exponent HR, Bottle Rocket Studios, Cinepolis USA, Poo-Pourri, Nothing Bundt Cakes, Projekt202
Spectrum Center
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How has Addison positioned itself as an attractive option for companies seeking new alternatives and locations, given COVID-19’s impact on the economy and daily work life? Companies are looking for locations that will provide their employees a workspace that is a better balance between work and life. Addison certainly provides companies with various quality options for them to consider, and the community has focused over the last few years to enhance Its walkable corridors and green spaces for employees and residents alike. Our central location also provides companies access to higher skilled labor force to draw from, and in 2022 DART will begin rail service that will connect Addison to DFW Airport and UT Dallas.
Addison Airport is the premier general aviation airport in Texas.
What are the five most important needs of businesses when choosing a site location, especially now? Ample available space; Amenities for employees; Access to a highly skilled labor force; Safe, pleasant environments; Pro-business community. Many CEOs are seeking a work/live/play environment for their employees as a strategy to attract and retain top talent. How does Addison’s master plan fit into this strategy, and how has it evolved this year? Addison has adopted several plans that focus on enhancing work/live/play environments for employees. Our Economic Development Strategic Plan adopted in 2019 has a mission to develop a community where both people and businesses will thrive, and our Parks, Recreation and Open Space Master Plan recommends projects that will provide Addison residents, families, business professionals, and visitors with a variety of highquality recreation experiences and an enriched work-life environment. What does Addison’s EDC evaluate when looking to attract a new business? As we work with businesses considering Addison, we first make sure that they will be a good fit for the community and that they complement our growing targeted clusters. We will then look at their planned Investment levels, number of jobs created, and average wages—most Importantly. We want to make sure that we attract the right kind of companies to Addison that will help have a strong economic
impact that will help sustain the community’s growth. How does Addison differentiate itself from others in the region? We are a small community that is very pro-business and Innovative, and we take the time to do things right. When businesses need help, they do not have to deal with layers of bureaucracy. We know that time is money for them; so when they reach out to us, we will help guide them on every step to make sure they achieve what they need to do on a timely manner, and they get the answers they need. Which industries are demonstrating the most interest in your area today? We have seen tremendous growth in five sectors, including information technology, specialized financial services, engineering and R&D Services, consulting services, and creative services. What are some of your predictions for how DallasFort Worth’s economic outlook may change during the next three years? Dallas-Fort Worth will continue to grow into the next five years and become a more global city. Despite the current pandemic, businesses from both coasts are realizing that a more centralized location with global air access makes more sense for them. As a result, the region will see growing diversity and denser developments. Foreign direct investments will flow into the city as global businesses realize that the region’s location makes it Ideal to penetrate the U.S. economy.
P H OTO G R A P H Y C O U R T E S Y O F T O W N O F A D D I S O N
Town of Addison
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Texas’ #1 place to start a business
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STATE OF
The Colony Economic Development Corporation TheColonyEDC.org EDC Contact: Keri Samford, AICP Executive Director of Development 972.624.3127 edc@thecolonytx.org Population:
44,000 County:
Denton Major Businesses: Edward Don Rave Restaurant Group Sanyo Energy U.S.A. Corp. Quest Resource Management Group
Grandscape
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The Colony has experienced dramatic growth during the past five years. How have the dynamics of 2020 impacted its progress? The pandemic has certainly affected our business community, but we are incredibly proud of the resilience, determination and creativity that we’ve seen across all sectors, particularly our retail/ restaurant market that has continued to expand in 2020. The 433-acre Grandscape solidified The Colony as a Texas Destination for quality commercial development, and the opening of the Grandscape Lifestyle Center this spring further added to this distinction. We are pleased to welcome Scheels, Andretti Indoor Carting and Gaming, Galaxy Theatres, and many other one-of-a-kind, or one only, businesses to this amazing development, where guests can literally spend an entire day
Nebraska Furniture Mart - Texas
Austin Ranch Mixed-Use Development
One of the many landscaped areas in the Grandscape Lifestyle Center
and evening enjoying exciting and fresh concepts for dining, shopping, entertainment, gathering, or just relaxing in a gorgeous environment where water and light features meld with lush landscaping. We are also excited about the residential component of Grandscape opening in 2021. Grandscape Live will offer 345 units in its first phase and more amenities than we can list here. Thanks to technology, many have discovered that you don’t have to choose between living in a cool place, or living near your workplace. At Grandscape Live, and other residential communities in The Colony like Austin Ranch, a fabulous lifestyle is literally steps from your front door.
As we welcomed new businesses this year, we also responded swiftly to assist those already in the community with a Small Business Support Grant Program. Thanks to the resounding support of our City Council and Economic Development Board, we were able to deliver $100,000 in funding to help 100 businesses in The Colony get through the worst days of the pandemic. We also assisted our businesses in tapping into Denton County’s OPEN grant program. It’s been quite a year for us all. The Colony is optimistic about the opportunities ahead to continue to make it a Texas Destination for business, and life.
P H OTO G R A P H Y C O U R T E S Y O F T H E C O L O N Y
The Colony
DFW
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A
TEXAS DESTINATION FOR
GRANDSCAPE LIFESTYLE CENTER - NOW OPEN
Keri Samford, Executive Director of Development 972.624.3127 • edc@thecolonytx.org • www.TheColonyEDC.org
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SPECIAL ADVERTISING SECTION International Plaza is located on the Dallas North Tollway and home to Tenet Healthcare and Trinity Industries.
STATE OF
DFW
City of Farmers Branch farmersbranchtx.gov EDC Contact: Allison Cook allison.cook@farmersbranchtx.gov 972.919.2507 Population:
48,000 County:
Dallas Major Businesses: Tenet Healthcare, Brinks, TD Industries, Essilor, Copart, Trinity Industries
Rawhide Creek runs throughout the city with numerous parks and greenbelts.
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How is Farmers Branch positioned as an attractive option for companies seeking new alternatives and locations, given COVID-19’s impact on the economy and daily work life? Farmers Branch has a variety of business locations, from Class A office to flex space. Conservative financial policies allowed the city to sustain economic growth during COVID-19 closures. Infrastructure projects, police, fire, and other city services will be maintained at the same level. What are the five most important needs of businesses when choosing a site location, especially now? Daily commute, local amenities, and transportation alternatives—including DART rail—proximity to customers, and ISO rating 1.
What does the Farmers Branch EDC evaluate when looking to attract a new business? We typically evaluate the revenue stream from the business and the regional impact multiplier for large employers. How does Farmers Branch differentiate itself from others in the region? Farmers Branch has a strong police department and low fire department response time resulting in an ISO 1 rating. The rating helps lower business insurance costs. Which industries are demonstrating the most interest in your area today? The wine and spirit, alarm monitoring, construction services, and affiliated companies have been expanding either their footprint or sales. How is technology impacting the needs of businesses moving into the area? We have seen the increased capacity for remote work meetings, telehealth, online ordering, or touchless technology for check out. What are some of your predictions for how the DallasFort Worth region’s economic outlook may change over the next three years? The office sector may adjust with flexibility in the build out for groups to gather while feeling safe. I still believe the migration of businesses moving to Texas for no state income tax, easier regulatory environment, and cost of living will continue. If the business allows a hybrid of remote working and creative meeting
spaces, the Dallas-Fort Worth region is still competitive compared to California for the same reasons. How did Farmers Branch respond to the COVID-19 crisis while businesses were asked to shut down? Farmers Branch stays in touch with as many businesses as possible during the year, which helps in any crisis. Our department kept all the changing closure information on our website current, so everyone had one place to source county, state, or federal information. In addition, we reached out personally with each change from the county or state, so our manufacturing sector, restaurants, and retail had the most up-to-date orders, as well as a contact for questions. We found most people were confused on the specifics of an order pertaining to their business and needed someone to assist, not another referral. Providing clarity and sourcing grant dollars was one aspect of our local services. We worked tirelessly to stay up to date on each change, new federal loans and grants, and business outreach while creating content to promote our restaurants that were forced to close their dining rooms. Many of our restaurants were not set up with technology for online ordering or curbside pick-up. We allocated dollars for parklets, a term describing a temporary outdoor dining area, helping with the social distancing aspect of closures. We also created a cooking show, giving exposure to a few area restaurants while they demonstrated cooking a meal with one of our city council members.
P H OTO G R A P H Y C O U R T E S Y O F C I T Y O F F A R M E R S B R A N C H
Farmers Branch
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SPECIAL ADVERTISING SECTION
STATE OF
DFW
Terrell Economic Development Corporation Terrell Economic Development Corporation terrelltexasedc.com EDC Contact: Ray Dunlap 469.534.2719 ray@terrelltexas.com Population:
18,000 County:
Kaufman Major Businesses: AutoZone Distribution, Madix, Nucor, Oldcastle BuildingEnvelope, Walmart Distribution
How is Terrell positioned as an attractive option for companies seeking new alternatives and locations, given COVID19’s impact on the economy and daily work life? Post COVID-19, submarkets are becoming attractive to companies. Terrell is far enough away from Dallas-Fort Worth to still have a smalltown feel, and close enough so that all the desired amenities of the big city are only 40 minutes away. Land is more affordable and workforce in East Texas will drive to Terrell for good jobs. When COVID-19 hit, the Kaufman County Judge and Commissioners Court were very practical and
Walmart Distribution Center
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moderate in their attitude toward business. They consulted with business and education before making decisions. They did their best to adhere to safety guidelines, while also recognizing if people were not working, we would have far greater problems down the road. To the extent possible, the County allowed local governments and school districts determine what was best for their community. As a result, Terrell has not been hit as hard as some other communities. What are businesses looking for in a site location today that they weren’t looking for a few years ago? Today, businesses are looking for good land prices, a reasonable regulatory environment, and a quality workforce. Many CEOs are seeking a work/live/play environment for their employees as a strategy to attract and retain top talent. How does Terrell’s master plan fit into this strategy, and how has it evolved this year?
Terrell updated its master plan a few years ago and voters chose to devote a 1/8 cent sales tax to improving parks and downtown. The City Council appointed a board to lead this work and they are actively working to improve an already good quality of life for residents and visitors. The board, in conjunction with the City Council, is pursuing improvements that will make Terrell more appealing to those seeking good jobs in a great place to live. What does your EDC evaluate when looking to attract a new business? Our EDC looks at the stability and financial health of a company, the total investment they will make, and most importantly, the quality of the pay and benefits they will be offering employees. How does Terrell differentiate itself from others in the region? Terrell has a diverse economy, which has helped us weather COVID-19 better than some. The City of Terrell, Chamber of Commerce, EDC, Kaufman County, school district, and business community work together to find solutions to issues. We are not a siloed community, but rather a collaborative and inclusive community.
P H OTO G R A P H Y C O U R T E S Y O F T E R R E L L E C O N O M I C D E V E L O P M E N T C O R P O R A T I O N
Nucor Building Systems
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Booming And, there’s still room for you.
Progressive. Connected. Innovative. American Ideals, Work Ethic and Deep Texas Roots Crossroads at Terrell
255-acre 600,000 SF Power Center Retail Destination
Terrell Market Center
Buc-ee’s 62,000 SF Travel Plaza Anchors 89-acre Retail Center
Historic Downtown Terrell
Regional Medical Center
Shops at Terrell/ Home Depot
Mike Cronin & Airport Business Parks
Land Available for Medical Concentration
Brand-name Apparel/ Home Improvement Superstore
Downtown is Home to 100+ Businesses
$44,000,000 in Business Expansions
Terrell, Texas is THE ideal location for your business • • • • •
I-20 and U.S. 80 location gives you direct access to major ports and NAFTA corridor Reach 93% of the market withIn two days Close proximity to DFW International Airport/Dallas Love Field sites available at Mike Cronin/Airport Business Parks Low cost of occupancy; affordable Land Prices
Contact Ray Dunlap, PCED, President • 469-534-2719 • Ray@TerrellTexas.com
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City of Forney forneytexasedc.org EDC Contact: Tony Carson ACarson@forneytx.gov 972.564.7300 Population:
25,030 County:
Kaufman Major Businesses: Amazon, Goodyear, Smurfit Kappa
DFW
What type of opportunities exist for businesses looking to locate to Forney? Already home to two Amazon facilities and a Goodyear Tire Distribution Center, Forney’s signature development, Gateway, provides ample opportunity for industrial uses, such as manufacturing, data centers, and logistics. This area is conveniently located off Highway 80 and near I-20 and is equipped with outstanding utilities, including a well-developed fiber optics infrastructure.
Forney is a business-friendly community and provides a variety of financial incentives and financing options through the State of Texas and Kaufman County for new, expanding, or relocating companies. Forney EDC is prepared to provide guidance and assistance to ensure companies are successful in Forney.
What incentives does Forney offer to attract new businesses?
Many CEOs are seeking a work/live/play environment to
Downtown Forney
attract and retain top talent. How does Forney fit in with this strategy? Kids playing baseball, back yard barbecues, a stroll down Main Street, and a caring and friendly community—these long-held traditions are part of Forney’s DNA. With an affordable quality of life, limitless recreation opportunities, culture, food, fun, and room for expansion, Forney is a thriving, dynamic, and growing community.
P H OTO G R A P H Y C O U R T E S Y O F CITY OF FORNEY
Forney
STATE OF
OFFICE, RETAIL AND MEDICAL SITES AVAILABLE WORKFORCE OF 1.3 MILLION PEOPLE WITHIN 35 MINUTES ONE OF THE FASTEST GROWING CITIES IN NORTH TEXAS (Dallas Business Journal) EASY ACCESS TO U.S. HWY 80 AND INTERSTATE 20
FORNEY ECONOMIC DEVELOPMENT CORPORATION ACarson@forneytx.gov www.forneytexasedc.org 972-564-7300
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DALLAS NEXT Announcing Dallas Innovates 2021: The Resilience Issue, publishing this fall. Our annual magazine is a double edition featuring stories of grit, transformation, and, yes, opportunity, in these extraordinary times. This special issue looks at the people and companies surviving, thriving, and shaping our very future—and why Dallas-Fort Worth is a place for what’s next. To be a part of it, and support Dallas Innovates’ needed and necessary coverage of our region. Email the Dallas Innovates team: dallasinnovates@dmagazine.com
Subscribe to the email newsletter: DALLAS INNOVATES EVERY DAY
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END MARK
TWO MAGGIES
The Grande Dame of Dallas M A RGA R E T MCD E R M OT T February 18, 1912—May 3, 2018
story by JENNY RUDOLPH
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I M AG E C O U R T E S Y O F D E G O LY E R L I B R A R Y , S O U T H E R N M E T H O D I S T U N I V E R S I T Y , A N D Y H A N S O N P H O T O G R A P H S
A 1980s-era photo of Margaret McDermott, left, and another iconic Dallas philanthropic leader, Margot Perot.
A
ustin-born margaret mcdermott began her career as a 1930s society journalist who covered charity events and debutante balls for the now defunct Dallas Times Herald. In 1952, she married Eugene McDermott, co-founder of Geophysical Service Inc., which went on to become Texas Instruments. The couple donated millions to the Dallas Museum of Art, the University of Texas at Dallas, and countless other arts, education, and science initiatives. After her husband’s passing, Margaret donated $32 million to establish the Eugene McDermott Scholars Program. She later gave more than 3,100 works of art to the DMA and millions in funding for projects that helped transform Dallas. Her impact as a philanthropic giant was honored by the naming of the Margaret McDermott Bridge over the Trinity River. “My part is so little compared to what everyone else is doing, but I am so glad to say thank you, everybody,” she said at the bridge’s opening in 2013. She died five years later at the remarkable age of 106.
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