BG Reads | News You Need to Know (April 4, 2022)
[BG Podcast]
Episode 153: Discussing the City of Austin's cryptocurrency study
Today’s episode (153) features Austin Council Member Mackenzie Kelly (District 6). She and Bingham Group CEO discuss her recently passed resolution "directing the City Manager to conduct a fact-finding study on the adoption, use, and holding of Bitcoin or other cryptocurrencies by the City of Austin.” -> EPISODE LINK
OUT WEDNESDAY: A Conversation with Jason Alexander, Chief of Staff to City Manager Spencer Cronk
[AUSTIN METRO NEWS]
Austin American-Statesman Editorial: Airport demands more fuel, but safety should be priority (Austin American-Statesman)
Some longtime East Austin residents are still haunted by memories of a 52-acre tank farm that leaked petroleum and other toxins into surrounding soil and groundwater for decades, sickening some predominately Latino and Black neighbors. Activists finally managed to shutter the massive fuel depot at Springdale Road and Airport Boulevard in the 1990s, but now a new fuel tank controversy is flaring up at Austin-Bergstrom International Airport. With the Sprindale Road history in mind and staring at the prospect that three million gallons of jet fuel could be stored just across the road in 2024, the airport's nearest neighbors are nervous. About a dozen modest, older homes on McCall Lane sit about 500 feet from the fuel depot's proposed site. Though it's been in the planning stages for more than two years, residents told reporters they were unaware of the fuel tank project until recently. Airport officials say they tried notifying neighbors starting in 2017.
Council Member Vanessa Fuentes, who represents parts of East Austin including the airport, is asking the City Council to approve a resolution this week that would delay --- and possibly derail -- placing the new jet fuel storage tanks on the western edge of airport property along U.S.183. Fuentes contends the airport's public awareness efforts did not meet standards required by the U.S. Environmental Protection Agency for communities at heightened risk of environmental dangers. She wants the council to pause the project, consider other sites, and engage the public in more discussion. There is no disputing the dire need for additional fuel reserves at the increasingly busy Austin airport; just last week ABIA issued a low fuel alert to airlines. We understand why airport officials want to move ahead with the federally approved fuel storage project, part of the airport's expansion plans. But the health and safety of our community is more important. We urge the City Council to put the project on hold and require the airport to be transparent about the risks of storing jet fuel. Airport officials should do everything they can to assure the public they have met EPA guidelines for informing and protecting nearby residents… (LINK TO FULL STORY)
Don't expect traffic problems around Circuit of the Americas to be fixed anytime soon (KUT)
For the last 10 years, Circuit of the Americas has drawn thousands of people to major events — from races like the U.S. Grand Prix and MotoGP to concerts by megastars like Elton John and Kendrick Lamar — helping to pump millions of tourist dollars into the local economy while thrilling fans with A-list entertainment.
The 1,500-acre venue has also spent the last decade infuriating many of those same fans when they become ensnarled in the periodic traffic jams that happen when thousands of vehicles are crammed down country roads in rural Travis County.
The traffic debacle around a Rolling Stones concert last year caused such an uproar, it sparked a new urgency about addressing transportation problems and disability access issues at COTA. While there have been notable infrastructure improvements in recent weeks, some of the biggest changes to the surrounding transportation infrastructure could still be years away… (LINK TO FULL STORY)
Austin FC commits $3.5 million to affordable housing (Austin FC)
Last week, Austin FC confirmed its commitment to help construct affordable housing units in Austin with the announcement that the Club will provide $3.5 million in funding toward the development of affordable housing units in Austin. Austin FC’s $3.5M funding commitment will be donated directly to Foundation Communities, an Austin-based nonprofit organization and a leading developer of affordable housing units in Texas.
Austin FC’s $3.5M contribution to Foundation Communities will specifically be used to support Foundation Communities’ developments in North Austin, namely Juniper Creek which is scheduled to break ground in 2023. The Juniper Creek development will be located immediately adjacent to Foundation Communities’ 88-unit Laurel Creek development which recently opened in North Austin approximately one (1) mile from Q2 Stadium. Anthony Precourt, Majority Owner and Chief Executive Officer of Austin FC, made the landmark affordable housing announcement on March 30 at Foundation Communities’ Laurel Creek ribbon-cutting ceremony alongside Mayor of Austin Steve Adler and Foundation Communities’ Executive Director Walter Moreau... (LINK TO FULL STORY)
Austin entrepreneur behind new $4.4 million island in the metaverse (KVUE)
After spending $1.2 million of his own money on technology infrastructure, serial entrepreneur Adam Hollander launched White Sands, a tropical island getaway in the metaverse that people can call home.
"A metaverse is a virtual landscape, a virtual world where you can play and learn and work and interact and conduct commerce and do a variety of things that you might otherwise do in the real physical world. We're moving really as a society towards this concept of having this digital landscape where you can do these things very much how we moved into using social media," said Hollander.
The new world consists of 3,000 NFT plots of land where users can build their own empires via Minecraft. It will offer 250 pre-built luxury villas available only to current White Sands plot owners in the next few weeks. Built on NFT Worlds, White Sands will soon be connected to thousands of other worlds whose users will be able to roam, interact and enjoy the experiences created by White Sands users.
Events such as paintballing, golf, stand-up comedy, hot air ballooning and more are included in the roadmap.
After completing the mint last week White Sands:
Sold out of the 3,000 NFT plots of land in 24 hours
Raised $4.4 million without accepting money from a single investor
Sold $3.6 million (1,200 ETH) on the secondary market
Saw holders increase their NFT value 50%, with 96% still holding
Expects to raise another $4 million when the luxury villas are up for sale
Increased Discord participation to 30K members with 25,000 Twitter followers
Hollander is a serial entrepreneur who sold his gamification software to Microsoft in 2015, served as Microsoft’s gamification director, owns a BAYC NFT, and has become a popular NFT influencer who has 25,000 Twitter followers and has been quoted in many of the top NFT stories in 2022… (LINK TO FULL STORY)
Austin Mayor Steve Adler tests positive for COVID-19 (Austin American-Statesman)
Austin Mayor Steve Adler tested positive for COVID-19 after an exposure, he said in a tweet Sunday.
"Thanks to the vaccine/booster, I have very mild, if any, symptoms," Adler said in the tweet, adding that his wife Diane Land tested negative. "I'll work and isolate at home until negative and okayed by doctors."
Earlier this month Austin and Travis County health leaders lifted all pandemic orders requiring masks at schools and most city-owned spaces, with face coverings now required only at airports, jails and health care facilities.
Austin Public Health ended its emergency rules and orders related to COVID-19 on March 29, nearly two years to the day after issuing its first shelter-in-place order of the pandemic, explaining that the record-low numbers of infections and hospitalizations in recent weeks made it possible to do so… (LINK TO FULL STORY)
Austin Young Chamber boss leaving to lead Capital Idea (Austin Business Journal)
Alyssia Palacios-Woods is stepping down as president and CEO of the Austin Young Chamber of Commerce Inc. to become executive director of Capital Idea Inc., a workforce development nonprofit that helps people get education that leads to better jobs.
Her upcoming departure from the chamber, announced March 30, will end five years leading the organization that connects young professionals. Her last day is June 3 and she'll start July 1 at Capital Idea.
“It has truly been my honor to lead such an incredible organization,” Palacios-Woods said in a statement. “Knowing firsthand the talent, commitment, and innovation of our young professionals, it’s clear that the future of Central Texas business is bright.”
At Capital IDEA, Palacios-Woods takes over an organization that has been around for more than 20 years and helped more than 2,000 people get into "high-demand occupations," such as nursing and the professional trades, according to an announcement. She replaces Steve Jackobs, founding executive director, who is stepping down to focus on running for the Austin Community College board of trustees… (LINK TO FULL STORY)
[TEXAS NEWS]
In Texas and across the country, community college enrollment is down, but skilled-trades programs are booming (NPR)
It's a typical school day for Lisa Alaniz — she and her classmates stand in a warehouse-like room, cutting wood and piecing together the rafters of a shed. They're students at Texas State Technical College working toward an associate's degree in construction. "I did [high school] online because that's when the pandemic hit," says Alaniz, 21. "And I just realized online school is not for me. Like, I'm very, very bad at computer work." Alaniz didn't want to spend her days trapped in an office, either. She wanted to pursue something more hands-on, which is what led her to the program here in Waco, about 100 miles south of Dallas. Since the pandemic began, more than a million students have held off from going to college, opting to work instead. Two-year public schools have been among the hardest hit — they're down about three-quarters of a million students. Skilled-trades programs are the exception. Across the country, associate's degree programs in fields like HVAC and automotive repair have seen enrollment numbers swell.
Alaniz's program is preparing her for work in a field where details matter. She learns key on-the-job skills each day, and that comes with plenty of mistakes. Today, in framing class, her group has already made a measurement error on the shed they're building. They'll have to fix it before they can proceed. "It's always double-check, double-check, double-check," says Alaniz. "If we were to get out into a bigger project where that was like an actual house or an apartment, it will be totally thrown off, and that's just going to waste time, material, money, everything." There's a shortage in qualified construction workers, according to a survey conducted in September 2021 by the Associated General Contractors of America. The survey found that 89% of contractors were having a difficult time finding workers who were trained for the job. That affects project timelines — 61% of contractors reported project delays because of workforce shortages. Tony Chaffin, leader of the construction program at Texas State Technical College, says the demand for workers is "huge." "We have contractors calling us weekly: 'Do you have anybody that can work?' " he says. "I mean, they just want people." Part of the labor shortage can be attributed to experienced workers aging out of the field, Chaffin says. "The average building inspector is about 58 years old, so they're leaving faster than they're coming in."… (LINK TO FULL STORY)
What’s next for Texas, as neighboring New Mexico legalizes recreational marijuana (Associated Press)
The U.S. House passed a bill Friday that would decriminalize marijuana nationwide, the patchwork of legalization efforts in neighboring Texas states is expanding, with New Mexico’s recreational program now in effect. As of Friday in New Mexico, anyone 21 and older can purchase up to 2 ounces (57 grams) of marijuana — enough to roll about 60 joints or cigarettes — or comparable amounts of marijuana liquid concentrates and edible treats. New Mexico has nurtured a medical marijuana program since 2007 under tight restrictions. Friday’s changes still represent a sea change for local law enforcement, taxation officials, commercial growers and residents who thought full-blown legal access to pot would never come.
Texas’ neighbor joins 18 states that have legalized pot for recreational use, with implications for cannabis tourism and conservative Texas, where legalization efforts have made little headway. The recreational sales will be steps away from neighboring El Paso, where local law enforcement officials are warning, it’s still not legal to bring cannabis across state borders.
“Any person caught with any usable amount of marijuana here will be charged accordingly,” El Paso Police Sgt. Enrique Carrillo told Nexstar affiliate KTSM. New Mexico is the first state bordering Texas to fully legalize marijuana. Neighboring states Oklahoma and Louisiana have fully legalized medical marijuana usage. Texas remains the largest prohibition state in the country. Because of that, local El Paso officials said they expect to see more possession arrests in the coming months. “Do whatever you will with it in New Mexico, but just don’t bring it back into Texas. Because if you are stopped by an El Paso Police officer, you will be charged accordingly,” Carrillo said. In Texas, possession of marijuana under 2 ounces is considered a misdemeanor with up to 180 days in jail and/or a $2,000 fine. Having 2 to 4 ounces is also considered a misdemeanor, but comes with up to one year in jail and/or a $4,000 fine… (LINK TO FULL STORY)
Congressman says don’t worry about SpaceX leaving (Brownsville Herald)
Elon Musk’s answer to a question posed by The Brownsville Herald during Musk’s Feb. 10 presentation at SpaceX’s Starship development site at Boca Chica site, dubbed Starbase, has spawned a degree of anxiety among some local officials that the world’s most successful private rocket company could slip away. At issue is the Federal Aviation Administration’s ongoing Final Programmatic Environmental Assessment (PEA) of SpaceX’s plans for launching its Super Heavy boosters. The company has been preparing for its first orbital launch of a combined Starship-Super Heavy, from Boca Chica, but first the FAA has to complete the PEA. The release date has been pushed back multiple times, most recently to April 29, the FAA announced recently. The original deadline was Dec. 31, 2021.
The PEA could contain a Finding of No Significant Impact in the PEA and the FAA could grant SpaceX the necessary launch license, or the agency could require a much more comprehensive, lengthy Environmental Impact Statement (EIS) on the company’s plans for Boca Chica. If that happens, no orbital launches will take place at Boca Chica/Starbase anytime soon. Asked by The Brownsville Herald what would happen if the FAA demands an EIS, Musk replied that SpaceX, which has a contract with NASA to develop Starship as the Human Landing System for the space agency’s Artemis moon astronaut program, would be forced “to shift our priorities to Cape (Canaveral)” in Florida. “Now we do have the alternative of the Cape,” he said. “We actually applied for environmental approval for launching from the Cape a few years ago and received it. So we are actually approved from an environmental standpoint to launch from (launch complex) 39A. I guess our worst-case scenario is that we would be delayed for six to eight months to build up the Cape launch tower and launch from there.” Those words likely caused heartburn among local leaders betting on SpaceX and the space-related companies it attracts to transform Brownsville into “New Space City” and the region into a hub for the fast-growing private space sector… (LINK TO FULL STORY)
[NATIONAL NEWS]
He was fired by Amazon 2 years ago. Now he's the force behind the company's 1st union (NPR)
"He's not smart, or articulate."
Those were the words used by a top Amazon lawyer to describe former warehouse worker Chris Smalls.
Smalls had led a walkout at the start of the pandemic in 2020 to protest working conditions at the Staten Island, N.Y., warehouse where he worked. He was fired the same day.
The memo that contained those biting words was leaked just a few days later. But the words would stay with Smalls. They became the fuel that would drive him to lead one of the most dramatic and successful grassroots union drives in recent history.
"When I read that memo, that motivated me to start an organization," said Smalls, celebrating the historic victory of the Amazon Labor Union on Friday, making the warehouse Amazon's first unionized workplace in the U.S.
Friday's triumph would come almost two years to the day of his firing… (LINK TO FULL STORY)
CEO pay heads for record as pandemic recedes (Wall Street Journal)
Pay increases for U.S. chief executives have gained steam, putting compensation on pace to set a record amid a tight labor market that is also driving pay higher for many of their workers.
Median pay rose to $14.2 million last year for the leaders of S&P 500 companies, up from a record $13.4 million for the same companies a year earlier, according to a Wall Street Journal analysis of pay data for more than half the index from MyLogIQ LLC.
Most CEOs received a pay increase of 11% or more, and pay rose by at least 25% for nearly one-third of them. Pay fell for about a quarter of the CEOs, including Paycom Software Inc.’s Chad Richison, last year’s highest-paid S&P 500 leader, whose pay fell to about $3 million from $211 million.
In 2020, while CEO pay rose overall, nearly one-third of these executives had their total compensation decline from a year earlier, and many forfeited some pay during the pandemic… (LINK TO FULL STORY)