Letter from the Editor

You’re holding in your hands a different kind of magazine…”

It’s impossible to know exactly how many times those words have been uttered by editors introducing the first issue of a new publication, but trust us: We’ve heard them before. You probably have too, and if you’re like us, you no longer believe the hype. So forgive us when we tell you that you’re holding in your hands a different kind of magazine. This time, we really mean it.

Elementary Watson

When Fortune magazine named Austin the best city in the nation for business last November, it was something of a shocker. Isn’t the Texas capital the very antithesis of a business-friendly city? Don’t environmentalists have the upper hand over developers, stymieing growth at every turn?

.combat

It seems too perfect that the electronic frontier’s version of High Noon is being staged in Texas, the legendary territory of gunslingers and upstarts. The showdown is between two Texas companies—Compaq, the world’s largest manufacturer of computers, and Dell, the world’s fastest growing computermaker—that have come to represent different ways of doing business in the insanely competitive PC market.

James L. Pate

The defenders of high CEO pay like to argue that because executive rewards are so closely tied to the stock market, the surge in stock prices in recent years is what has caused pay to soar. If stock prices drop, they insist, then so will CEO pay. That being the case, there really is no executive-compensation problem in the U.S. Rather, the system is working just fine; it is, as it should be, paying for performance. Nice try.

Thanks

Exxon, Irving, $1.7 million $1.7 million from the oil company’s departmental grants program to more than ninety colleges and universities—including the University of Texas at Austin, Texas A&M, in College Station, Rice University, in Houston, Texas Tech, in Lubbock, the University of Texas at El Paso, and Southwest Texas State University, in San Marcos—to provide extra funding for spec

Three Hot Texas Stocks

Want to capitalize on the incredible growth of commerce on the Internet? Look no further than the Texas companies that we believe are leading the push toward increased e-business and helping to usher in an age of greater choice and convenience. Last year, according to Gartner Group, a Web consulting and research firm in Stamford, Connecticut, consumers conducted $21.7 billion in online transactions, and that number should grow to $195 billion by the year 2000.

The Canadian at American

A few days after Don Carty was named CEO and chairman of AMR, the parent company of American Airlines, a reporter asked him how he compared with his predecessor, Robert Crandall. “Basically,” he said, smiling nervously, “I’m an optimist, and he’s a pessimist.” Carty was referring to Crandall’s famously stern personality, which over the years had earned him the nicknames Darth Vader and Fang.

How I Made It

I’ve never had any fear of failure. You have to be realistic about the real world. If you don’t take a shot at opportunities, you don’t have a chance. My first auto deal was with Edsel. In 1957 I was the youngest Edsel dealer in the U.S. I was 29 years old. I was the best salesman in Corpus Christi, and I had the next four best working for me, but we never sold an Edsel to anyone who wanted one. We had to create every sale. I saw in one month that it wouldn’t work.

Herb’s Flight Plan

It’s a typical day at anything-but- typical Southwest Airlines. Employees scurry around the company’s headquarters on the edge of Dallas’ Love Field in jeans, T-shirts, and other casual attire. Upstairs in the executive suite, their gregarious commander-in-chief, Herb Kelleher, is wearing his CEO power suit: a denim shirt, gray slacks, and topsiders.

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