The Texas economy is one of the most robust in the world. Wildly profitable companies and ingenious entrepreneurs call this state home, and what happens here influences businesses around the nation. Here’s a slice of the profits, losses, big deals, and backroom decisions happening across Tex
Tough Medicine to SWA-llow
Coming off a sluggish third quarter, Southwest Airlines announced this week that it plans to slash spending by at least $100 million, but the cuts will not involve layoffs, Bloomberg News reports. CEO Gary Kelly told employees on Thursday that the airline will be “trimming our total headcount” due to “high fuel prices and economic uncertainty.”
The Bottom Line: The Dallas-based airline has never laid off workers, but Kelly said the company will likely slow — but not freeze — hiring in the year ahead.
The University of Texas is branching out into the digital education arena, announcing this week that it will partner with online course provider edX to develop at least four free online classes by the end of next year. The university will invest $5 million in edX, a nonprofit venture launched this year by Harvard University and MIT, and