Dallas: New Financial Hub -- August 10, 2024

Locator: 48380TEXAS.

Link here. 

Ross Perot Jr. gestured out the window as his helicopter circled a 4.5-acre pit alongside the skyline of downtown Dallas. Texas and U.S. flags hung from a crane within it.

The site is where Perot’s real-estate investment company, Hillwood, is partnering to build a $500 million Goldman Sachs tower for more than 5,000 bankers and investors. That will make it the financial firm’s second-largest office, behind New York. As the helicopter swung northwest, windows glinted from two unfinished Wells Fargo office towers, scheduled to open next year. A bit farther away: a fourth office building under construction for Charles Schwab, which moved its headquarters from California to the Dallas area five years ago, and the footprint of a Deloitte campus doubling in size.

The sprawling landscape illustrates an expansion that has brought to North Texas a presence in financial services that now sits second only to New York City in the U.S.

And growth of so-called Y’all Street is accelerating.

Data from the Bureau of Labor Statistics shows that Texas investment-banking and securities employment has increased 111% over the past 20 years and 27% since the pandemic, compared with 16% and 5%, respectively, in New York.

The number of people employed in finance overall has risen 13% in Texas since 2019, compared with 2% in New York and 3% nationally.

Dallas now ranks second to New York City among metro areas in the number of workers employed in finance-related industries. Other cities, particularly in the Sunbelt, have seen growth as those services increasingly seek to be closer to customers nationwide.

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Movie Night

Notorious. Alfred Hitchcock.

It begins in Miami. Perhaps the one place in America I have not been. Not to be taken out of context. Ends in Rio de Janeiro. I have been to Rio. 

From wiki: 

Notorious is considered by critics and scholars to mark a watershed for Hitchcock artistically, and to represent a heightened thematic maturity. His biographer, Donald Spoto, writes that "Notorious is in fact Alfred Hitchcock's first attempt—at the age of forty-six—to bring his talents to the creation of a serious love story, and its story of two men in love with Ingrid Bergman could only have been made at this stage of his life."

In 2006, Notorious was selected for preservation in the United States National Film Registry by the Library of Congress as being "culturally, historically, or aesthetically significant."

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The Book Page

From One Cell: A Journey Into Life's Origins And The Future Of Medicine, Ben Stanger, 2023.

Audience: should be summer reading for high school students -- juniors / seniors -- with plans to attend college to major in the life sciences. 

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The Boys