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Survey shows marked optimism in Texas business owners

Tax and business consulting firm UHY Advisors recently conducted a survey in which it was discovered that a significant number of businesses owners in Texas believe that 2013 will be a good year regarding job opportunities and investments, with more of them saying that an economic downturn is not anticipated for this year.

In the Texas Business Outlook Survey conducted February 21-25 and for which results were released in March, 14 percent of business managers expected a steady acceleration of the economy, with 40 percent saying economic expansion is possible, and 45 percent saying that the business climate will probably be the same as last year’s, but definitely isn’t headed downhill.

UHY Advisors’ chief operating officer Ron Martin said this sentiment proves Texas businessmen are showing continuous optimism in the economy, but are still cautious and are guarded against “challenges and surprises that are beyond their control.”


American Airlines set to merge with U.S. Airways

Fort Worth-based American Airlines (AMR) filed a bankruptcy reorganization plan on Monday, April 15.

If the plan for the company’s reorganization is approved by the court, AMR will be afforded 60 days to make a presentation before the creditors, after which a hearing, the outcome of which will be decided on by the same creditors, will determine the mode of reorganization.

Part of the reorganization plan is AMR’s decision to merge with publicly-traded U.S. Airways. Part of the merger filing, of which the Securities and Exchange Commission was given a notification, asked U.S. Airways shareholders to approve of the merger.

A union in 2012 would have earned the companies $24.85 billion in revenues and $1.87 billion in losses, including $2.2 billion in reorganization costs.

AMR CEO Tom Horton will become chairman of the new company and will be succeeded by U.S. Airways chief executive Doug Parker if the merger is approved.

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