By Maxine Shapiro, KERA 90.1 business commentator
Dallas, TX – Earning season is winding down and it's still a pretty mixed bag for some North Texas businesses. I'm Maxine Shapiro with KERA Marketplace Middays.
Hispanic Broadcasting Corporation of Dallas posted profits of about $10 million for their second quarter, pretty steady when compared to same time last year. Profits would have been higher for the largest Latino radio chain in the country, but there are expenses when you're merging with another Latino media giant, Univision. This merger has been approved by both boards and should be finalized by the end of the year. Hispanic Broadcasting will remain in Dallas under the same management. They're smart, they want to keep a good thing going.
And from the people that bring you Chili's, Macaroni Grill, On the Border, and my favorite, Maggiano's, Brinker International saw an increase in their fourth quarter earnings of 19%. But it's a bittersweet day for the folks at Brinker's. The well-liked and always creative Ken Dennis, President of On The Border, passed away on Monday. He will be missed.
Wyndham International Inc. saw a decrease in earnings of almost 9% from last year. The chairman and CEO says "the business traveler has not returned." Should I tell him? Companies can't afford to stay, as their website describes, at upscale and luxury hotels or resort accommodations. The extended stay hotels have lured business travel departments with low rates and "just fine" accommodations. But the leisure traveler is staying regrettably at a discount.
And the Trammel Crow Company, one of the leading commercial real-estate managers in the U.S., is just happy they stayed within the 10- to 15-cent range for their diluted earnings per share. Last year it was 12 cents, this year 10. Corporate scandals and layoffs took their toll on commercial real estate and all agree it will take some time for that sector to return.
I believe it's much healthier to take one company at a time. Not everyone is on the edge of disaster. For KERA Marketplace Middays, I'm Maxine Shapiro.
Marketplace Midday Reports air on KERA 90.1 Monday - Friday at 1:04 p.m. To contact Maxine Shapiro, please send emails to mshapiro@kera.org.