Civic leader Heidrick named ‘Austinite of the Year’
Austin attorney and civic leader Clarke Heidrick has been named Austinite of the Year by the Greater Austin Chamber of Commerce. Heidrick, who is the chamber’s immediate past chairman, will be honored at the chamber’s January meeting.
Established in 1984, the annual “Austinite of the Year” award is the highest honor given by the Austin Chamber of Commerce.
Current chamber board chairman Lew Little cited Heidrick’s “legacy of service,” including his efforts in pushing to establish a teaching hospital in Central Texas.
Heidrick has served on the boards of numerous community and charitable groups, including Shivers Cancer Foundation, the Rebekah Baines Johnson Center, Central Health, United Way Capital Area, Boys and Girls Club of Austin and Preservation Austin.
Heidrick has been with the law firm Graves, Dougherty, Hearon & Moody since 1977.
Airport-area hotel changes hands
A hotel near Austin-Bergstrom International Airport is under new ownership.
The 102-room Hampton Inn & Suites Austin-Airport, at 7712 E. Riverside Drive in Southeast Austin, has been acquired by Hostmark Hospitality Group and Pendo Investments, the companies said Monday. The previous owner, according to Travis Central Appraisal District records, was Valencia Hotel Partners II.
The purchase price wasn’t disclosed.
Calling their latest acquisition “a great hotel in a fantastic city,” the new owners say they’re planning a full renovation of the property.
Transocean agrees to deal with Icahn
NEW YORK — Oil driller Transocean has agreed to a deal with billionaire investor Carl Icahn after a months-long proxy fight.
The company said Monday that it has agreed to support a dividend of $3 per share and reduce the size of its board. It is also looking to boost margins by $800 million through cost-cutting efforts and other measures. The stock climbed in premarket trading.
Icahn, a minority shareholder in Transocean Ltd., had previously pushed for a $4 per share dividend but Transocean’s shareholders rejected it. Icahn, known for shaking up companies in which he invests, had also wanted several board changes.
Icahn was previously involved in opposing the buyout of Round Rock-based Dell Inc. Icahn opposed the offer led by founder and CEO Michael Dell, but investors approved it in September.
News Corp quarterly revenue, profit misses expectations
NEW YORK — News Corp. said Monday that it had an unexpected drop in revenue in the most-recent quarter, as revenue from Australian newspapers plunged. The results were short of analysts’ forecasts.
Net income in the fiscal first quarter, which ended in September, was $27 million, or 5 cents per share. That compares with a loss of $92 million, or 16 cents per share, a year ago.
Adjusted to exclude costs related to a U.K. hacking probe and other items, earnings came to $17 million, or 3 cents per share, which was below the 5 cents expected by analysts polled by FactSet.
Revenue from news and information services fell 10 percent to $1.5 billion. The company attributed much of that decline to a 22 percent drop in revenue from Australian newspapers, which include The Australian and The Daily Telegraph.