05/07/2009
Texas Banking Industry Faring Well When Compared with Other States, But Still Experiencing Tough Times
The nation’s banking industry has come under intense scrutiny in the past year primarily due to bad mortgage loans made to individuals who could not afford them, as well as ill-fated investments in collateralized mortgage obligations some of which included similar bad loans.
“We believe the Texas banking industry is running better than most states, but realize it will be affected,” said Bobby Davenport, Regional Director of the Texas Department of Banking. “But our banks still have best capital structure and the best earnings.”
Of the state’s 329 chartered banks, only 28 are rated “3” or worse on a scale of 1-5, Davenport said.
The Texas Department of Banking charters, licenses, and regulates financial providers in the state of Texas to ensure that Texas has a safe and sound financial services system.
Davenport and members of the Cy-Fair Houston Chamber of Commerce’s Governmental Affairs Committee held a lively discussion on the Texas and national banking industries and what businesses and individuals seeking credit or loans can expect to encounter in the near-term future.
“Banks are tightening strings on credit, but people are able to go out and get loans,” Davenport said. “When business owners go to get a loan, a bank looks at the business’ ability to pay it back. When things start deteriorating, banks start pulling in the reins.”
However, they are still loaning money to businesses that are in a strong position to make payments, and that do business in an industry deemed safe, Davenport said.
For example, because there has been deterioration in the residential development industry, banks are less willing to lend money to companies for new residential construction, he said. That will probably continue until there is proof that that market is experiencing a comeback.
“When there is an area that has low or no sales, it will be hard to go to a bank and ask for a business loan in that area,” Davenport said. “Their view is: Why add to the risk? That is where you will see a pull-back in credit in a particular area.”
Committee member John Ritchey of Ritchey Leadership Services asked how so many people were approved for mortgages they could not afford.
“Have banking rules changed?” Ritchey asked.
Davenport said it was partly due to the robust economy the nation was experiencing when those mortgages were approved.
“No one was willing to step up and say we need to stop,” Davenport said. “When things are going great it is hard to get a law passed to tighten regulations. We probably should have been pulling back five to 10 years ago.”
“Now we are going through a correction,” he said.
Davenport said Texas residents and businesses still have faith in their banks, and continue to deposit money in those accounts. It helps that the Federal Deposit Insurance Coverage (FDIC) was temporarily increased from $100,000 to $250,000 per depositor through Dec. 31, 2009. There is a bill before Congress that could extend that deadline.
That action sends a message, Davenport said, that money is safe in commercial banks and credit unions.
He said there is also a movement in Congress to decrease the loan fees and increase loan guarantee levels on Small Business Administration loans. Those measures would allow banks to boost credit markets and small business lending.
When asked if additional legislation needs to be passed to regulate the banking industry, Davenport said that is not the answer.
“We do not need more regulation, but need a tightening of regulation and enforcement,” he said. “Regulators need the flexibility to be able to do our jobs.”
He said the banking industry has probably not yet hit rock bottom, but is learning from its mistakes.
A key piece of knowledge gained: If you don’t understand it, don’t get involved with it, Davenport said.
05/07/2009
Regional Planning Agency Allocates Stimulus Funding to Grand parkway Project, Commuter Rail Study
About $489 million in federal stimulus transportation-related funding is headed toward the Houston region, and about one-third of that will be allocated to the construction of the new Grand Parkway “Segment E” project, which will link Interstate 10 with U.S. 290 near the Bridgeland and Fairfield master-planned communities in Cy-Fair.
Under the American Recovery and Reinvestment Act of 2009, the state of Texas will receive $2.25 billion for highway and bridge projects. The Texas Department of Transportation and Houston-Galveston Area Council – the planning agency for the eight-county Houston region- identified candidate projects for the stimulus funds.
The state has 120 days to obligate 50 percent of the funding, and one year for the balance of the funding.
The Houston-Galveston Area Council identified candidates for the highway and bridge project list from the agency’s Transportation Improvement Program (TIP) – the list that all federally-funded projects in Houston and surrounding counties must be included on in order to move forward with construction plans. Projects that are funded through other sources – city and county funds – are also included on that list.
Shaida Dezfuli, a transportation planner in the Houston-Galveston Area Council’s Transportation Department, told members of the Cy-Fair Houston Chamber of Commerce Mobility Committee, that it was challenging to identify projects that met the federal government’s criterion for candidate projects.
All candidate projects had to have completed the process required for projects to receive federal funding, and had to be “shovel ready,” meaning they had been through the required design and engineering phases and were ready to start construction.
“We received a lot of unfriendly comments about that, but there was nothing we could do,” Dezfuli said. “We also could not use the money in place of projects that were already funded – they had to be additional projects and we had to have a local funding commitment.”
“We have to use the money (in the required timeframe) or we lose it,” Dezfuli said.
She said the Grand Parkway “Segment E” project met all of the requirements.
The Cy-Fair Chamber supports the Segment E project.
Dezfuli said the $181 million will pay for construction on the mainlanes of that roadway because that work can be completed in the allotted 3-year timeframe. The interchange projects at Interstate 10 and Highway 290 will not utilize stimulus funding, therefore an alternative funding source will be used to complete those sections of the project.
Several Chamber members have asked why the U.S. 290/Hempstead Highway reconstruction is not eligible for stimulus funding. The answer: the project is still going through the federal process and the Federal Highway Administration has not issued the “record of decision” required for the project to move into the construction phase.
As for stimulus funding aimed at transit-related projects, Dezfuli said in the Houston region there is $2 million allocated for preliminary work on commuter rail studies.
Initially, the money was set to be divided between the Highway 290, Highway 3 and “Urban Core Connectivity” studies. However, she said, there is discussion about shifting the funding to the Highway 290 and Hardy rail lines because the Union Pacific Railroad Company has indicated it could be willing to move all freight traffic onto the Hardy line if certain improvements were made to that line. That would free the 290 line for commuter rail traffic.
“The study will specifically look at 290 corridor and what options would work,” Dezfuli said. “The biggest problem is that it (Highway 290 rail line) goes to the Northwest Mall area which is not where Metro’s (Metropolitan Transit Authority of Harris County) transit center is.”
The study would determine what modes of transportation could be used to transfer commuters at that point.
“There is a lot of uncertainty now,” she said. “One of problems we are trying to work through is the governance and funding of commuter rail. Hopefully we will have more information and answers in the next month or so.”
Dezfuli also touched on pending state legislation that H-GAC officials are following because they deal with transportation and transit issues:
Senate Bill 855 would create a local option tax for transportation projects. In this version of the bill, the Houston area is not included, she said, but local officials are watching its progress and discussing the implications to the Houston region if a similar piece of legislation was created in the future that gave local leaders , and residents, the ability to vote for a special tax to fund specific transportation projects.
House Bill 2433 would allow the Gulf Coast Freight Rail District to operate a commuter rail system. The bill has passed the House and Senate and is on the Governor’s desk awaiting a final decision. There is no funding option included in this bill.
House Bill 1923 would provide funding for the Texas Rail Relocation and Improvement Fund. It is pending in the Senate.
05/02/2009
Scholarship Winner
The Chief Alan Bragg Salute to Law Enforcement Scholarship, in the amount of $1000, was created for sons and daughters of law enforcement officers who will be graduating from high school in the spring of 2009. The scholarship was awarded in celebration of the 15th Anniversary of the Salute to Law Enforcement, presented by Sprint, Cy-Fair Houston Chamber of Commerce, Spring ISD Police Department and Willowbrook Mall. This year was the 5 th year scholarships were awarded. This year's recipient was one of four outstanding applications submitted. Considerations in awarding the scholarship include financial need, current participation in criminal justice activities, student leadership and scholastic ability.
Ryan Flannelly was chosen as the 2009 recipient of the Chief Alan Bragg Salute to Law Enforcement Scholarship. Mr. Flannelly will be attending Sam Houston State University this fall perusing a degree in criminal justice. After visiting with several agencies Mr. Flannelly expressed interest in working as an FBI agent or US Marshall. Ryan is the son of Katherine & Raymond Flannelly.
Funds for the scholarship are made possible by the sponsors of the event. All process of Salute to Law Enforcement are given back to our law enforcement community in the form of scholarships and donations to the 100 Club and Houston Area Concerns of Police Survivors.
Katherine
Flannelly, Raymond Flannelly Jr, Ryan Flannelly, Chief Alan Bragg (Spring
ISD PD)
05/01/2009
Bowling Tourney Offers Chance to Rally for a Cause at the Alley
On Tuesday, May 26, more than 200 bowlers will rally from 6 to 9 p.m. at Copperfield Bowl , 15615 Glen Chase Drive, for the Chamber’s 7 th annual Strikes for Scholarships: The Ten-Pin Challenge.
A portion of the proceeds from the event will benefit Dr. Earl Campa’s Endowed Scholarship at Lone Star College–CyFair. In the past seven years, the Chamber has raised over $21,750 to benefit scholarship endowments.
The popular event features DJs, decorations, music, teams with “theme” costumes and a silent auction.
Each of the five-person bowling teams will receive dinners of “bowling cuisine” and goodie bags. Trophies will be awarded for the first, second and third-place teams.
AmegyBank of Texas, Brookside Funeral Homes, Business Network International, CenterPoint Energy, Comfort Suites, Copperfield Church, Cypress Pony Land Company LTD, Dickens Delivery Service Inc., Energy Capital Credit Union, Executive Inn & Suites, First Community Credit Union, Hewlett-Packard Company, Houston Chronicle, Houston Community Newspapers/The Sun, Independence Bank N.A., iT’Z Houston, Jersey Meadow Golf Course, Leadership North Houston Alumni, Lone Star College–CyFair, Members Choice Credit Union, Metropolitan Publishing Company Inc., MillerCoors, Motel 6, Raba-Kistner Consultants Inc., Signs Now and Waiting to Exhale have already committed to sponsoring the event.
The call is out for additional sponsors and spectators.
“Sponsorship is a great way to get your company’s name in front of the community because we sell out each year,” said Lori Dickens , who has chaired the tournament for three years. “We all have so much fun at the tournament, including the spectators who cheer for their favorite teams.”
Lone Star College-CyFair Interim President Robert Williams said he is grateful for the Chamber’s on-going support of the college and its students. “The annual bowling tournament is a fun way our local businesses and organizations have partnered to raise funds for this program,” he said.
Added Darcy Mingoia, executive director of the Lone Star College Foundation, “There has never been enough scholarship money. There are countless students who need the help the Chamber is providing.”
A wide variety of sponsorship opportunities are still available. To become a sponsor or to reserve your team’s spot call Sherri Padalino at the Chamber office at 281-373-1390.
In addition, the Auction Committee is looking for all types of donations, including sports memorabilia and tickets, restaurant meals, hotel stays, airline tickets and much more. To make a donation to the auction call Jennifer Ellis at the Chamber office at 281-373-1390
For more information please call 281-373-1390 or visit our website www.cyfairchamber.com.
05/01/2009
Committees Offer Bang for the Buck
There is power in numbers.
That concept has been proven repeatedly through the years in milestones achieved by the Chamber’s various committees.
The Highway 290 Passenger Rail Coalition (290 PRC), which is now a strong partner with the Mobility Committee, has lobbied officials at all levels of government for years to put a commuter rail line on the Highway 290 corridor. Now that rail corridor is on Harris County Judge Ed Emmett’s – and the Metropolitan Transit Authority of Harris County’s – short list for commuter rail service in the next 3 to 5 years.
The Governmental Affairs Committee is one that elected officials – and candidates – turn to for help when they need information on what residents and businesses in the Cy-Fair area want and need from them.
And the various fund-raiser committees play a vital role in rallying members – and the community – to raise funds for not only Chamber operations, but charitable organizations that serve the needs of the community.
The message here is that the Chamber’s committees play a key role not only in Chamber business, but in the community’s business. Cy-Fair Chamber President Erin Al-Salman said that committee meetings also offer an opportunity for members to become acquainted and to work together on issues that are important to individual members and their businesses.
“To get the most out of your Chamber membership you MUST get involved with a committee,” Al-Salman said. “It’s a wonderful way to network, and fulfilling in that you are working on projects within the Chamber that shape and benefit the Cy-Fair community.”
With 18 Chamber committees, there is something for everyone, so check out the goals of each, decide which one - or two or three – spark an interest and GET INVOLVED!
B.E.S.T. Committee (Business & Education Standing Together)
Assists the Cy-Fair ISD in its programs relating to the community at large and serves as a liaison to the school district regarding the needs of the business community. The committee meets the 3rd Thursday of every month at 8:00 am at the Chamber office.
Contact: Rev. Justin Lindstrom, St. Aidan's Episcopal Church (281) 373-3203; Claire Phillips, Lone Star College-CyFair (281) 290-3942
Community Growth
Identifies existing businesses within the chamber’s boundaries and determines business needs, coordinates discussions with business leaders in order to offer needed business retention assistance. Members also work to develop a “pro-business” environment to attract new businesses to the area. The committee sponsors an Economic Development Golf Tournament to showcase the Cy-Fair community. The committee also monitors infrastructure including electricity, gas, water, flood controls and utilities in the Cy-Fair area. The committee meets the 4th Friday of every month at 8:00 am at the Chamber office.
Contact: Greg Turner, Turner Partners Architecture (281) 497-1040
Community Safety
This committee allows the police, fire and EMS providers in the community an opportunity to communicate on a monthly basis with major employers, including Cy-Fair ISD. The committee meets the first two months of every quarter on the last Wednesday of the month at 11:30 am at the Cypress Fairbanks Medical Center Hospital , Professional Building 1, 10655 Steepletop Drive .
Contacts: Jan Terry, Cypress Fairbanks Medical Center Hospital (281) 897-3192; Rob Smith, Stanley Convergent Security Solutions, Inc. (713) 683-6830
Governmental Affairs
The committee provides a forum for local, state, and congressional leaders to inform members on legislation and issues that impact businesses and our community. The goal is to build relationships, and keep open the lines of communication with legislators, their staff members and state and local agencies. Members have the opportunity to present their issues and concerns to legislators or their staff members, and to be informed/educated on current, pending and new legislation that impacts business.
This committee meets the 1st Thursday of every month at 9:15 am at the Chamber office.
Contact: Reginald Lillie, Reginald Lillie Insurance Service (281) 213-9663; Debbie Blackshear, Cy-Fair Federal Credit Union (281) 890-7676
Mobility
This committee investigates current and future transportation issues and communicates those issues to the appropriate government offices in order to encourage and facilitate improvements in area transportation corridors. This committee also provides an advocacy group representing the appropriate counties to promote the consideration of implementing passenger rail service along the existing Highway
290 railroad tracks currently owned and operated by Union Pacific.
The committee meets the 1st Thursday of every month at 8:00 am at the Chamber office.
Contact: Bill Rowden, B. Mark, Inc. (281) 362-3630
Ambassadors
This group serves as the outreach to Chamber members by answering questions, assisting members and attending events.
The committee meets the 2nd Thursday of every month at 8:00 am at the Chamber office.
Contact: Paul Wickman, Oasis Outsourcing (713) 787-0693; Leslie Martone, Cy-Fair Federal Credit Union (281) 890-7676
BIG (Businesses in Growth)
The BIG Committee assists owners of small businesses in the successful management of their companies by providing education and training through the BIG Academy. The committee also sponsors the monthly “Business in the Spotlight” at the general membership luncheon and recognizes successful businesses on an annual basis.
The committee meets the 4th Tuesday of every month at 8:00 am at the Chamber office.
Contacts: Melissa Rotholz, Lone Star College-CyFair (832) 482-1056; David Whitfield, Chick-fil-A at CyFair (832) 912.8227
Orientation
This committee designs and implements a quarterly program for new and prospective Chamber members to inform them of the benefits of Chamber membership. Members meet the last Wednesday of every quarter at 8 am at the Chamber office.
Contact: Cindy Downey , Cy-Fair Houston Chamber of Commerce (281) 373-1390
RAD (Referrals Are Dynamic) Network
This goal of this committee is to build relationships and share referrals. Business owners who would like to grow their businesses are encouraged to attend because RAD meetings are a solid way to introduce a business to other Chamber members. The committee meets the first and third Tuesday of each month at 7:30 am at the Chamber office and members come equipped with “warm” leads for other members.
Contact information: Darlene Benz, Premier GMAC Real Estate (281) 788-6216; Marilyn Sander, Proaction Careers (281) 893-4401
Chamber Herd
Members of the Chamber Herd pool funds to support the Cy-Fair ISD’s FFA students. The goal is to raise as much money as possible from other members and non-members to go toward the purchase of animals at the annual Cy-Fair ISD livestock auction held in conjunction with the livestock show in January or February of each year. The meat is processed and then distributed to area ministries. The Chamber Herd does not hold regular meetings.
Contact: John Fox, Fox & Bubela, Inc. (281) 477-7889
Sprint Presents Salute to Law Enforcement
This is an annual community event in the Cy-Fair area that brings 100 agencies together to meet the public. Benefits law enforcement scholarships. The committee meets the 2 nd Tuesday of each month January – April at 3:30 pm at the Chamber office.
Contact: Chief Alan Bragg, Spring ISD Police Department (281) 891-6902; April Jones, Cy-Fair Federal Credit Union (281) 890-7676
Cy-Fair Ten Pin Challenge Bowling Tournament
This event is held in May (May 26 this year) and offers an opportunity for Chamber members to enjoy a fun evening of networking and bowling. The organizing committee meets the 1st and 3rd Monday of every month February – May at 9:30 am at the Chamber office.
Contact: Lori Dickens, Dickens Delivery Service, (281) 859-1172
MillerCoors/Houston Distributing Monte Carlo Night
This annual event is held in July (July 17 this year) and allows Chamber members to have a fun evening of networking and raises money for the Chamber. The event typically draws 200 people, and the committee’s goal is to increase that number. The committee meets the 2nd and 4th Friday of every month at 9:30 am at the Chamber office.
Contacts: Elizabeth Zelenka, Amegy Bank (281) 320-6411; Laura Poshard, Amegy Bank (281) 320-1301; Jim Fordice, Maid Brigade of NW Houston (281) 469-3939
Business Exposition
This annual event is held in September (September 3 this year) and offers Chamber members to participate in a trade show that attracts over 600 visitors. The committee meets the 3rd Friday of every month at 9:30 am at the Chamber office.
Contact: Sherri Padalino, Cy-Fair Houston Chamber of Commerce (281) 373-1390
Mobility Forum Luncheon
This informative luncheon is held in September (September 3 this year along with the Business Exposition) and allows Cy-Fair residents and businesses to learn about current mobility issues and projects in the Cy-Fair area. Committee meeting times are not yet scheduled.
Contact: Sherri Padalino, Cy-Fair Houston Chamber of Commerce (281) 373-1390
Economic Development Golf Tournament
This annual golf tournament is held in October or November (November 10 this year) designed to attract brokers and developers to Cy-Fair with the goal of increasing commercial and industrial economic development in the area. The organizing committee meets the 2nd Wednesday of every month June - October at 8:00 am at the Chamber office.
Contact: Keith Grothaus , Caldwell Companies (713) 690-0000
Budget and Finance
Membership to this committee is by appointment. The committee reviews the Chamber’s financial records and advises the staff on financial issues. The committee meets the 3rd Friday of every month at 7:30 am at the Chamber.
Contact: David McKinney, MH&S Accountants and Consultants, (832) 237-3415
Membership Committee
This committee works to increase new membership, and holds an annual membership drive to support the Chamber’s efforts. Committee meetings are unscheduled at this time.
Contact: Ron Roberson, Caldwell Companies (713) 690-0000
projects
Archived News
04/21/2009 Green Squad Says Start Sustainability Effort With ‘Low-Hanging Fruit’
04/21/2009 Law enforcement is looking for a few good sponsors
04/21/2009 Applications due for Salute to Law Enforcement scholarship
04/20/2009 Chamber announces Mary Evans as new President
04/16/2009 Chamber on a roll with Ten Pin Challenge
04/02/2009 Sprint Proudly Presents Salute to Law Enforcement
04/02/2009 Texas economy fares better than most in midst of national recession
04/02/2009 TXDOT officials urges Chamber’s continued support of Cy-Fair area mobility
03/31/2009 Chamber on a Roll with Ten Pin Challenge
03/17/2009 Training Expert Says Building Clients’ Trust Can Boost Sales, Even in Tough Times
03/06/2009 Texas A&M’s Chief Economist Predicts Economic Recovery by Year’s end if Government Gets Moving
03/05/2009 Cy-Fair Area Congressional Representatives Voted Against Economic Stimulus Bill
02/20/2009 Erin Al-Salman resigns as chamber president
02/12/2009 Economic Forecast Luncheon is set for March 6
02/05/2009 Economic Forecast Luncheon Announces Keynote Speaker
02/05/2009 Legislative Staff Members Preview 2009 State Session
01/19/2009 Fifteen Years and Still Going…Chamber Herd Rides Again
01/13/2009 Chamber Leaders Respond to Challending Times with Optimistic Outlook