D CEO October 2022

O C TO BE R 2 02 2

CEO

PLUS:

Next-generation DFW restaurateurs make their moves 30 Corporate Counsel Award Honorees

WWW.DCEOMAGAZINE.COM

OCTOBER 2022

Cover_1022.indd 1-2

$7. 95

THE RANCH KING Australian-born entrepreneur Bernie Uechtritz rules the high-stakes world of luxury ranches in Texas.

9/6/22 1:37 PM

Knowledge Delivered.

Whitley Penn’s Forensic, Litigation, and Valuation specialists possess the knowledge, experience, and credentials to assist you in a variety of litigation matters. From issues in family law to commercial litigation, delivering your desired result is our top priority.

Learn more at whitleypenn.com/FLVS.

WhitleyPenn.indd 1

8/31/22 9:08 PM

This summer, we made 67,000 Texas employers smile.

Dividends make your business safer, stronger, better.

When you get a dividend check from Texas Mutual, you’re getting tangible proof that safety pays. That’s good news worth sharing — especially with the workers who helped make it happen. In 2022, Texas Mutual Insurance Company sent $330 million to safe policyholders all across the state. It’s just one of the ways we’re helping boost your bottom line so that you can make your business safer, stronger and better. Scan to learn more about our dividend program.

Dividends are based on performance, are not guaranteed and must comply with Texas Department of Insurance regulations.

TexasMutual.indd 1

8/31/22 9:07 PM

CharlesTyrwhitt.indd 1

8/31/22 8:56 PM

FROM LOCAL ORIGINS TO GLOBAL EXPERIENCE.

H O M E TOW N CO N N E C T I O N S . WO R L DW I D E P E R S P E C T I V E .

Congratulations to our clients and friends selected as finalists and honorees for the D CEO Corporate Counsel 2022 Awards.

We salute you and thank you for your professional contributions and dedication to our DFW community.

haynesboone.com AUSTIN | CHARLOTTE | CHICAGO | DALLAS | DALLAS - NORTH | DENVER | FORT WORTH | HOUSTON | LONDON | MEXICO CITY NEW YORK | ORANGE COUNTY | PALO ALTO | SAN ANTONIO | SAN FRANCISCO | SHANGHAI | THE WOODLANDS | WASHINGTON, D.C. © 2022 Haynes and Boone, LLP

HaynesBoone.indd 1

9/5/22 9:02 PM

CONGRATULATIONS

A TRADITION OF EXCELLENCE. A VISION FOR SUCCESS.

CASEY MOORE SENIOR COUN SE L, V ISTR A CORP.

Vistra is proud to congratulate Casey Moore, Sam Siegel, and Yuki Whitmire for being finalists on the list of D CEO’s Annual Corporate Counsel.

We thank them for their leadership, service, and

SAM SIEGEL ASSOCIATE G E N E RA L CO UN SE L V ISTR A CORP.

contributions to the community and the Vistra family of companies.

YUKI WHITMIRE

W W W.V I S T R A C O R P. C O M

ASSOCIATE G E N E RA L CO UN SE L V ISTR A CORP.

Vistra.indd 1

9/6/22 3:19 PM

3100 O N

T H E

K A T Y

Photo: @high_vis

M C K I N N O N T R A I L

Back to office as easy as a walk on the trail.

NEWLY RENOVATED, AMENITY-DRIVEN TOWER IN THE HARWOOD DISTRICT

DIRECT ACCESS TO THE KATY TRAIL MOVE-IN READY SUITES AVAILABLE EXCEPTIONAL VISIBILITY AND ACCESSIBILITY

TO LEARN MORE ABOUT 3100 MCKINNON ON THE KATY TRAIL, PLEASE VISIT:

IMMEDIATE ACCESS TO THE DALLAS NORTH TOLLWAY COMPLETELY REDESIGNED AMENITY DECK RECENTLY RENOVATED TENANT LOUNGE STATE-OF-THE-ART FITNESS CENTER

3 1 0 0 K AT Y T R A I L . C O M

FULL FLOOR AVAILABILITY

Harwood.indd 1

8/31/22 9:00 PM

Parkland Health is proud to congratulate

Executive Vice President & Chief Legal Officer,

Steve Roth

and

Senior Associate General Counsel,

James “Jay” Balfour

on being named as finalists in this year’s

D CEO Corporate Counsel Awards.

Architect: HDR + Corgan © 2014 Assassi Productions

ParklandHealth.indd 1

8/31/22 9:03 PM

LynnPinkner.indd 1

9/6/22 3:24 PM

AABP.indd 1

8/31/22 8:53 PM

WHEN A LAWYER HIRES A LAW FIRM THEY’D BETTER BE GOOD. WHEN SOPHISTICATED CLIENTS AND IN-HOUSE COUNSEL LOOK FOR A LAW FIRM, IT’S ALL ABOUT TRUST. NOT THE SORT OF TRUST YOU GET IN A TRUST FALL EXERCISE AT A FANCY CORPORATE RETREAT. IT’S THE KIND OF TRUST YOU EARN

BY SOLVING BIG TOUGH PROBLEMS AND BEING EFFICIENT WITH YOUR HOURS. WE BELIEVE IN RELATIONSHIPS AND THE SYNERGIES THAT DEVELOP OVER TIME. SO WE DON’T NICKEL AND DIME OUR CLIENTS FOR A LATE NIGHT TEXT WHEN SOMETHING’S KEEPING THEM UP. IF WE’RE IN, WE’RE ALL IN. SOUND DIFFERENT? YES, DECIDELY SO.

Dallas 972-378-9111 2500 Dallas Parkway, Suite 600, Plano, TX 75093 FBFK.law

FBFK.indd 1

9/2/22 2:59 PM

CONGRATULATIONS to our legal department for recognition in D CEO's Corporate Counsel Awards and the Dallas 500 during record-breaking growth!

Photo L to R: Clinton Willett (Corporate Counsel), Jordan Anderson (Contract Administrator), Denton Muse (Senior Counsel), M e g S h o c k l e y ( G e n e r a l C o u n s e l ) , S t e p h e n i e Ta y l o r ( S e n i o r Pa r a l e g a l ) , R o y M a t h e w s ( C o r p o r a t e C o u n s e l )

Meg Shockley: Dallas 500 | D CEO Corporate Counsel Award Finalist Denton Muse: D CEO Corporate Counsel Award Finalist (three years) | ACC DFW Chapter Corporate Counsel Award Clinton Willett: D CEO Corporate Counsel Award Finalist PROUD MEMBER OF N.A.W. BILLION DOLLAR ROUNDTABLE

CES_final.indd 1

9/6/22 3:25 PM

BANK OF AMERICA PLAZA

CONNECTED

TO RECRUIT

CONFERENCE CENTER

TENANT LOUNGE

VA L E T PA R K I N G

FITNESS CENTER & LOCKER ROOMS

12 DINING A N D R E TA I L O P T I O N S

INSIDE

&OUT THE JOULE

Experience a neighborhood feel with countless on-site and downtown amenities right outside your ošc e door.

COMMISSARY

CBD PROVISIONS

OFFICE SPACE AVAILABLE 2,000 SF TO 300,000 SF

BAPLAZA.COM

BOA_Plaza.indd 1

CONTACT US TODAY FOR ADDITIONAL INFORMATION: Russ Johnson +1 214 438 1586 russ.johnson@am.jll.com

Joel Pustmueller +1 214 438 1596 joel.pustmueller@am.jll.com

8/31/22 8:54 PM

Texas’ #1 place to start a business

Addison.indd 1

9/6/22 6:24 AM

YMCA.indd 1

9/6/22 3:08 PM

T H A N K YO U TO O U R SPONSORS FOR SUPPORTING THE

DIVERSITY, EQUITY, AND INCLUSION SYMPOSIUM The Business of Belonging.

SERIES SPONSOR:

TITLE SPONSORS: BANK OF TEXAS/BOK FINANCIAL | DALLAS COLLEGE | HAYNES AND BOONE | ISP CREATIVE | THOMSON REUTERS | VISIT DALLAS SIGNATURE SPONSORS: AMAZON | AMN HEALTHCARE | CEDAR HILL EDC | COMMUNITIES FOUNDATION OF TEXAS | DALLAS MAVERICKS | GIRL SCOUTS OF NORTHEAST TEXAS | K STRATEGIES | MOHR PARTNERS | TEXAS WOMEN'S FOUNDATION | YMCA | YUM! BRANDS I F YO U AR E I N T E R E STED IN SUP P ORTING NEXT Y EA R'S DIV ERSITY, EQUITY, A ND INCLUS ION S Y M P O S I U M , O R O T H E R E V E N T S L I K E T H I S , P L E A S E R E A C H O U T T O R A C H E L G I L L AT R AC H E L @ D M AG A Z I N E . C O M TO D I S C U S S F U R T H E R .

DCEO_HSE_DEI_FP_1022.indd 1

8/31/22 8:58 PM

JOIN OUR BUSINESS IMPACT NETWORK Communities Foundation of Texas for Business partners with companies of all sizes to help start, grow, or expand their community impact.

Through CFT's Business Impact Network, we provide community engagement strategy consulting, custom volunteer events, professional development, and networking opportunities.

If your company is looking for: Alignment of company and employee values with community needs Customized solutions to meet your business goals Nonprofit partner recommendations and relationship development Grantmaking support for employee-driven business philanthropy

CFT FOR BUSINESS IS HERE TO HELP.

BENEFITS WE OFFER: Dedicated relationship manager Volunteer service days for your employees Be in Good Company Seal of Excellence National Volunteer Month experiences Custom engagement survey, goal setting, and volunteer events Custom NTX Giving Day giving pages

Contact us today at business@cftexas.org or visit CFTexas.org/DCEO to learn more and join our network of good corporate citizens!

CFT.indd 1

8/31/22 8:57 PM

quire

g

IN A COMPETITIVE WORLD, THE QUALITY OF YOUR TALENT DETERMINES IF YOU WIN IN YOUR BUSINESS

BLNelson Group

STAFFING • SEARCH • EMPLOYEE BENEFITS

BLNelson Group draws on their proven Business Intelligence Technologies, Databases, and Processes.

BLNelson Group achieves unparalleled results in Finding, Recruiting, and Placing the Best Talent in both Permanent Hires and Temporary Staffing.

We bring expertise and experience in finding the “Right People” for our clients.

INDUSTRIES SERVED Professional Financial Services Banking Construction Technology Health Care Not for Profits Private Equity Portfolio Management “C” Suite Executives Executive Outplacement Services

· · · · · · · · ·

“People are not your greatest asset.

The “right people” are!”

-Blaine L. Nelson, President & CEO

14160 Dallas Parkway, Suite 605 Dallas, TX 75254 469.965.1600 | info@blnelsongroup.com www.blnelsongroup.com

BLNelson_1022.indd 1

8/31/22 8:55 PM

CONTENTS OCTOBER 2022

VO LU M E 1 7 | I S S U E 0 8

38

The Ranch King Australian-born entrepreneur Bernard Uechtritz’s vision and grit helped him overcome roadblocks and the competition to rule the high-stakes world of luxury ranch sales in Texas. story by JENNIFER WARREN portrait by SEAN BERRY

44

No Reservations Next-generation restaurateurs keep family dynasties going, while adding new twists of their own. stories by CHRISTINE PEREZ AND KELSEY J. VANDERSCHOOT

FATHER’S SON

26-year-old Sam Romano has taken the reins at Nick & Sam’s in Uptown.

portraits by SEAN BERRY

P O R T R A I T BY S E A N B E R R Y

54

Calm in the Midst of Chaos With increasing accountability in the ESG space, in-house attorneys are spearheading their organizations’ efforts to keep up with pressure from the public, investors, and government. story by WILL MADDOX photography by THE VOORHES

DCEOMAGAZINE.COM

TOC_1022.indd 17

OCTOBER 2022

017

9/6/22 3:39 PM

CONTENTS

74

20 EDITOR’S NOTE

DOSSIER Eric Fleiss, Regent Properties 28 MEET THE 500

Tracy Skeans, YUM! Brands 2 8 L O C A L LY S O U R C E D

Finley Moll, Heather McNeill, and Marty Washington of Finley Shirts

25

72

N E E D TO K N OW J O N A T H A N Z I Z Z O ; F O O D & B E V E R AG E K A T H Y T R A N ; W E L L T R AV E L E D M A R T H A ’ S V I N E Y A R D C H A M B E R O F C O M M E R C E ; R O OT S D A L I A P O W E R S ; E N D M A R K C I T Y O F D A L L A S A R C H I V E S

2 5 YO U N E E D T O K N O W

3 0 F O O D & B E V E R AG E

Brandon Hays and Phil Schanbaum of This & That Hospitality Group 3 2 O N T H E TA B L E

Arun Agarwal, Nextt 62 ON TOPIC

FIELD NOTES 59 LEADING OFF

Kenneth Novice, Broadway Dallas

Doug Moore of Fujitsu North America, Tiffany Woodson of Ink + Oro, and Mark Danuser of Tatum Brown Custom Homes on the lessons they learned from their fir t job.

60 ECONOMY

For the rest of the decade and beyond, growth in the state may not come as easily as it once did.

30

64 THOUGHT LEADER

Kyle Wick, 22 One Advisors

OFF DUTY 67 STYLE

Aaron Fletcher, Fletcher’s Original Corny Dogs 6 8 G R E AT E R G O O D OCTOB ER 2022

Joe Mannes, Samco Capital Markets 7 0 R E S E R VAT I O N S F O R T H R E E

76

CEO

Doreen Griffith of ant Thornton, Yen Ong of 5G Studio Collaborative, and Marissa Horne of Capital One share which two business leaders they’d like to have a meal with.

PLUS:

Next-generation DFW restaurateurs make their moves

7 2 W E L L T R AV E L E D : M A R T H A’ S V I N E YA R D

THE RANCH KING

30 Corporate Counsel Award Honorees

Matrice Ellis-Kirk, Ellis Kirk Group

Dalia Powers, Humana

WWW.D CEOMAGAZINE.COM

74 R O O T S

Australian-born entrepreneur Bernie Uechtritz rules the high-stakes world of luxury ranches in Texas.

Cover_1022.indd 2

76 END MARK

Raymond Nasher

018

TOC_1022.indd 18

OCTOBER 2022

9/6/22 1:42 PM

ON THE COVER:

Icon Global’s Bernie Uechtritz, shot on location by Sean Berry.

DCEOMAGAZINE.COM

9/6/22 1:45 PM

GodwinBowman.indd 1

8/31/22 9:00 PM

Are You Operating At Best-In-Class Levels?

LETTER FROM THE EDITOR

Keeping Family Businesses Going

Where do you score best-in-class?

Take the assessment at:

Robert Gardner, CEPA, CFEd® Who Business Owners Trust 972-833-2570 rgardner@gardnerwallace.com www.GardnerWallace.com Securities offered through Kestra Investment Services, LLC (Kestra IS), member FINRA/SIPC. Investment advisory services offered through Kestra Advisory Services, LLC (Kestra AS), an affiliate of Kestra IS. Gardner Wallace Financial Solutions, LLC. is not affiliated with Kestra IS or Kestra AS. Neither Kestra IS nor Kestra AS provide legal or tax advise and are not certified public accounting firms. https://www.kestrafinancial.com/disclosures 020

OCTOBER 2022

EdNote_1022.indd 20

P H OTO G R A P H Y BY E L I Z A B E T H L A V I N

GardnerWallace.com/Business

studies show that second-generation businesses have a 60-percent failure rate, while only 10 percent of thirdgeneration companies survive. According to Harvard Business Review, those numbers don’t tell the whole story. In fact, data suggests that, on average, family businesses last far longer than a typical public company does, and they’re a leading source of job creation and economic growth. Family businesses that fail often succumb to some of the common pitfalls, finds Forbes: poor succession planning, lack of trusted advisers, family conflict, and different visions between generations. Those that thrive are led by creative and entrepreneurial next-gen leaders who have a collective family orientation.

In this, Dallas’ Barbier-Mueller family is on the right track. Alexis and Oliver Barbier-Mueller, sons of Harwood International founder Gabriel Barbier-Mueller, were recently named co-presidents of their family’s business. They bring strong finance and development credentials to their roles, and they’ve shown that they’re just as bold as their father when it comes to thinking big. Harwood Hospitality Group, for example, one of four business verticals the brothers run, will open a new 22-story hotel within the 19-block Harwood District next year. Alexis and Oliver have also accelerated restaurant development, with 10 existing venues and a whopping 10 more that are slated to open by the end of next year.

To help keep things running smoothly, the Barbier-Muellers rely on a family business coach for support. “There are a lot of examples out there where second-generation transitions don’t work out, so it’s something we’ve tried to be proactive about,” Alexis says. “My brother and I come at things from different backgrounds, but we yin-yang very well.” Solutions to challenges often involve finding compromise, Oliver adds. “Typically,” he says, “the answer lies in finding common ground.” For more, see our report on next-generation restaurateurs, starting on page 44.

Christine Perez Editor

DCEOMAGAZINE.COM

9/6/22 10:25 AM

The office space needs and requirements for Law Firms are unique and can be a complex operation. Stream is experienced in the intricacies of this process with a proven track record.

Over the last 20 years, our Dallas team has represented some of the largest and most prestigious law firms totaling more than 2 million square feet in Downtown and Uptown Dallas.

StreamRealty.indd 1

8/31/22 9:06 PM

P U B L I S H E R Noelle LeVeaux

EDITORIAL EDITOR Christine Perez EXECUTIVE EDITOR Brandon J. Call MANAGING EDITOR Will Maddox ASSOCIATE EDITOR Kelsey J. Vanderschoot ASSISTANT EDITOR Ben Swanger CONTRIBUTING WRITERS Richard Alm, W. Michael Cox, Jennifer Warren

ART DESIGN DIRECTOR Hamilton Hedrick STAFF PHOTOGRAPHER Elizabeth Lavin

A DV E R T I S I N G SALES MANAGER Rachel Gill ADVERTISING DIRECTOR Rhett Taylor SENIOR ACCOUNT EXECUTIVES Cami Burke, Haley Muse MANAGING EDITOR OF SPECIAL SECTIONS Jennifer Sander Hayes BUSINESS DEVELOPMENT Palmer McGraw

MARKETING & EVENTS MARKETING DIRECTOR Gigi Ekstrom MARKETING COORDINATOR Natalie Swaim EVENTS PRODUCER Beth Albright EVENTS MANAGER Anja Matukic ADVERTISING ART DIRECTOR Katie Garza EVENTS INTERNS Miracle Ellison, Guadalupe Gomez

AU D I E N C E D E V E LO P M E N T AUDIENCE DEVELOPMENT COORDINATOR Jov Khan EDITORIAL PROGRAMS MANAGER Sarah Masquelier SPECIAL PROGRAMS COORDINATOR Jade Osseck RETAIL STRATEGY MANAGER Steve Crabb MERCHANDISER David Truesdell

D I G I TA L DIGITAL DIRECTOR Katrina Witherspoon DIGITAL PRODUCT MANAGER Sarah South DIGITAL ADVERTISING OPERATIONS MANAGER Riley Hill DIGITAL DESIGN ASSOCIATE Andrea Chavez SOCIAL MEDIA MANAGER Melissa Neely

PRODUCTION DIRECTOR John Gay MANAGER Pamela Ashby PHOTO RETOUCHER Jasmine Green

BUSINESS CONTROLLER Sabrina LaTorre SENIOR ACCOUNTANT Debbie Travis ACCOUNTS RECEIVABLE COORDINATOR Jessica Hernandez EMPLOYEE ENGAGEMENT DIRECTOR Patricia Martin IT TECHNICIAN Luan Aliji OFFICE MANAGER Will Smith RECEPTIONIST Phoebe Chew

HOW TO REACH US MAIL 750 N. Saint Paul St., Ste. 2100, Dallas, TX 75201 MAIN OFFICE 214-939-3636 WEBSITE www.dmagazine.com/dceo The magazine assumes no responsibility for the return of unsolicited manuscripts.

LETTERS TO THE EDITOR feedback@dmagazine.com CURRENT SUBSCRIPTION 800-732-9673 or subscriberservices@dmagazine.com NEW SUBSCRIPTION www.dmagazine.com/requestdceo ADVERTISING 214-939-3636 x 128 REPRINTS 214-939-3636 CUSTOM PUBLISHING 214-540-0113 SUBSCRIPTIONS 11 issues for $54 in the United States, possessions, APO and FPO; $70 per 11 issues elsewhere. Please provide old and new addresses and enclose latest mailing label when inquiring about your subscription.

D M A G A Z I N E PA R T N E R S EDITOR-IN-CHIEF AND CEO Christine Allison PRESIDENT Gillea Allison CHIEF FINANCIAL OFFICER Thomas L. Earnshaw FOUNDER Wick Allison

022

OCTOBER 2022

Masthead_1022.indd 22

DCEOMAGAZINE.COM

9/6/22 2:05 PM

SERVING TEXAS ATTORNEYS SINCE 1988 At PlainsCapital Bank, we partner with attorneys to power long-term growth for their firms. You can focus on your caseload while we streamline your financial processes. Take advantage of our banking solutions for attorneys, such as: •

IOLTA Accounts

•

Fraud Protection Services

•

Business Credit Cards

•

Real Estate and SBA Loans

•

Cash Management

•

Investment Management

•

Lines of Credit

•

Personal Banking Solutions

For details on banking, financing, and treasury management services for your firm, contact us today!

214.252.4000

PlainsCapital.com

© 2022 PlainsCapital Bank. Member FDIC. PCB802051733

PlainsCapital.indd 1

8/31/22 9:04 PM

ai166126884931_KLF-TheArtOfLaw–AD4–D_CEO copy.pdf

1

8/23/22

10:34 AM

THE BEST TOOLS ARE NOT IN THE HAND, BUT IN THE EYE. C

M

Y

CM

MY

CY

CMY

K

REPRESENTING INDIVIDUALS AND CORPORATIONS IN COMPLEX, HIGH-STAKES CRIMINAL LAW MATTERS

ONE MUSEUM PLACE

|

3 1 0 0 W E S T 7 T H S T.

817.336.5600

KearneyLaw.indd 1

|

|

SUITE 420

|

FORT WORTH, TX 76107

K E A R N E Y L AW F I R M . C O M

8/31/22 9:01 PM

OCTOBER 2022

DOSSIER TRENDS

to

WATC H

a n d

NORTH TEXAS NEWSMAKERS

YOU NEED TO KNOW

Why Eric Fleiss Is Making a Big Bet on Dallas The CEO of real estate investment and development firm Regent Properties is going all in on a growing office market. story by BRANDON J. CALL photography by JONATHAN ZIZZO

OCTOBER 2022

D_NTK_Fleiss_1022.indd 25

025

9/6/22 1:50 PM

DOSSIER

A

a slow return to office be damned.regent Properties CEO Eric Fleiss is bullish on opportunities in the Dallas office market. He is so confident, he established a second headquarters here last September and moved his family from Los Angeles to call Big D home.

“I may have a freshly minted Texas driver’s license, but our company has been doing business in Texas for more than 25 years,” he says.

Fleiss developed his no-nonsense bravado growing up in New York City. At 22, he began his career pitching tech assets and business plans to senior leaders at Walt Disney Co. As part of a selective leadership program at the company, Fleiss gained admission into Harvard Business School to pursue his MBA. It was during his time in Cambridge, Massachusetts, where he was first introduced to—and gained an appreciation for— commercial real estate. “I think I was the only kid born in NYC who didn’t know commercial real estate was a possible career path until business school,” Fleiss jokes.

After dabbling in retail and shopping center operations at Sydney, Australia-based Westfield Corp., Fleiss joined Regent Properties in 2005 as a partner with an ownership stake in the firm.

At the time, the company had three employees.

Under Fleiss’ stewardship as managing director, it has grown to nine offices and 94 employees.

Regent boasts $4 billion in assets under management and more than 26 million square feet of commercial space in its portfolio. It’s an operator and fund manager with retail, residential, and

026

OCTOBER 2022

D_NTK_Fleiss_1022.indd 26

“The intrinsic growth of the Dallas market, coupled with relocations to North Texas, is the winning formula.”

ERIC FLEISS

office holdings concentrated in Los Angeles, San Diego, Phoenix, Denver, Austin, Houston, and Dallas. In 2016, Regent purchased a technology park in Plano that once housed Texas Instruments and turned it into a campus that’s now home to Samsung, Peloton Interactive, and Freddie Mac. The $300 million Legacy Central offers about 1 million square feet in four buildings and, on an 85-acre site, plenty of room to grow. “It’s one of our best-performing properties across our entire portfolio,” Fleiss says.

Another top performer for Regent is Trammell Crow Center, which it acquired in March.

Although the terms of the sale of the 50-story, 1.2-million-square-foot property were not disclosed, insiders say the iconic Dallas Arts District tower fetched a hefty $600 million price tag.

“We have strong convictions on what works for commercial property investment,” Fleiss says. “Trophy properties like Trammell Crow Center will continue to do well, despite all of the conversations around work-from-home. Our investment team looks at high profile, well-located Class AA office space as huge opportunities.”

The acquisition was part of Fleiss’ strategy to buy office assets throughout the Sun Belt in the next two years. As some institutional investors look to exit office markets in a post-pandemic and work-from-home world, Fleiss says it is his firm’s opportunity to swoop in and buy.

“I think there is a lot of noise out there right now when it comes to office investment,” Fleiss says. “What we’re seeing in the market—particularly at the high end—is the option to buy topnotch assets at what we think are great prices. A pandemic followed by inflation and then a credit crunch; we think this is the perfect time to be putting the pedal to the metal.”

And what about—as some in the industry are projecting—a possible recession? “The intrinsic growth of the Dallas market, coupled with relocations to North Texas, which we don’t think will slow any time soon, is the winning formula we’re willing to hedge our bets on,” Fleiss says.

CHANGING TIDES

The company is taking an aggressive, contrarian approach and focusing on Sun Belt markets.

TR A M M E LL C R OW C E N T E R

An iconic 50-story office tower located in the heart of the Dallas Arts District, Trammell Crow Center was acquired by Regent Properties in March for an estimated $600 million.

LE G ACY C E N T R A L

Sitting just off North Central Expressway in Plano, Legacy Central is an 85-acre, technology-oriented office and mixed-use campus redeveloped

by Regent Properties and comprise of four existing office buildings totaling 1 million square feet of office space.

O N E PA N O R A M A C E N TE R

Built in 1999 and renovated in 2015, One Panorama Center is an eight-story low-rise office building in Irving with 208,450 square feet of space.

DCEOMAGAZINE.COM

9/6/22 1:51 PM

SIDLEY IS PROUD TO SPONSOR THE

2022 D CEO Corporate Counsel Awards We join in congratulating all of this year’s finalists.

Attorney Advertising - Sidley Austin LLP, One South Dearborn, Chicago, IL 60603. +1 312 853 7000. Prior results do not guarantee a similar outcome. MN-18371

Sidley.indd 1

AMERICA • ASIA PACIFIC • EUROPE

sidley.com

8/31/22 9:05 PM

DOSSIER

L O C A L LY S O U R C E D

White-Collar Fashion

MEET THE 500

TRACY SKEANS Chief Operating Officer and Chief People Officer YUM! BRANDS

in her dual position as chief operating officer and chief people officer, Tracy Skeans has her hands in many sectors of Yum! Brands, the company behind KFC, Taco Bell, Pizza Hut, and more. Along with having global responsibility for leading cross-brand collaboration, she oversees business transformation, food safety, human resources, equity and inclusion, and communications. Skeans said she has learned that it’s important to stay open to possibilities. “Early on in my career, I was presented with an opportunity to shift my career path from finance to human resources,” she says. “I ultimately said ‘yes’ to the risks and new challenges in front of me, and that decision led to even more exciting and rewarding opportunities.”

EDUCATION: University of Pittsburgh (MBA-Finance), Lehigh University (BS-Accounting) BIRTHPLACE: Pittsburgh, Pennsylvania FIRST JOB: “I worked retail at Casual Corner and babysat in high school. Post-college, I was an auditor for PWC.” BEST ADVICE: “If you don’t skin your knee, you aren’t running fast enough. I encourage people to be courageous and take strategic risks to advance their goals.”

GREATER GOOD: “I’m passionate about advancing female talent.

I serve as chair of the board of the Women’s Foodservice Forum.”

PROUD MOMENT: “Despite a challenging operating environment, we

continued making progress around our business and social purpose strategy: ‘recipe for growth and good.’ Not only did this help us achieve the strongest growth year in our history, it also advanced Yum!’s efforts to support DEI and make continued investments in unlocking opportunities for our employees and communities.”

MUST-READ: “I recommend The Power of Moments: Why Certain Experiences Have Extraordinary Impact

by Chip and Dan Heath.

It’s about being more intentional in identifying memorable and lifechanging moments and how we can increase the likelihood of creating these moments.”

world-class leaders who serve on our company’s board of directors. Their perspectives on business and leadership are invaluable.”

INDUSTRY CHANGE: “Across all industries, we need to see more women in board rooms and in the C-Suite.”

BUCKET LIST: “Watching the Pittsburgh Steelers bring home their seventh Super Bowl win.”

LOOKING AHEAD: “I’m excited about findin more ways to elevate the employee and customer experience and seeing all the opportunities that Yum! and the entire restaurant industry can unlock for incoming generations of leaders who want to get into this exciting and rewarding business.”

when the sportswear label they worked for folded in 1995, Finley Moll and Heather McNeill launched Dallas-based Finley Shirts. “The reps we worked with really wanted us to get going, and said, ‘We’ll make room for you,’” Moll says. A designer by trade, Moll created the brand’s first line and quickly realized its crisp, white dress shirts were best sellers. “That’s when we started to get some traction and evolved our style around that product line,” she says. The company designs and makes shirts and shirt dresses for Neiman Marcus and Tootsies, manufacturing its garments entirely in DFW. Finley Shirts added a third exec, Marty Washington, in 2006. The company has produced 180 designs in 2022, using many fabrics specially created for the brand. “Every shirt has a reason, and every shirt appeals to different people,” Washington says. —Suzanne Crow

S K E A N S BY J A K E M E Y E R S ; LO C A L LY S O U R C E D C O U R T E S Y O F F I N L E Y S H I R T S

Run by a trio of women entrepreneurs, Finley Shirts creates pieces for Neiman Marcus, Tootsies, and more.

DREAM TEAM

From left: Marty Washington, Finley Moll, and Heather McNeill run things at Finley Shirts.

GO-TO ADVISER: “I have tremendous respect for Yum! Brands CEO David Gibbs and the

This Q&A is extended content from Dallas 500, a special edition produced by D CEO that profiles the egion’s most influentia business leaders. Visit www.dallas500.com for details.

028

OCTOBER 2022

D_500_LocallySourced_1022.indd 28

8/29/22 8:12 AM

The expertise to deliver results. The wisdom to provide clarity. Focused on you.

For over 40 years, Carter Financial Management has offered comprehensive financial planning, wealth management and multi-generational wealth transfer guidance to business owners, professionals and high-net-worth families. A focus on lasting relationships and a deep bench of talent and experience allows Carter to deliver highly customized financial plans and personalized advice. As a nationally recognized, award-winning firm that includes 15 CERTIFIED FINANCIAL PLANNER™ professionals, the Carter team is not just planners, but partners in the plan, committed to helping clients achieve long-term goals in an ever changing world. Clients trust the firm to provide clarity and reassurance through bull markets, bear markets and the volatility in between. Carter can be there for you, too.

Securities offered through Raymond James Financial Services, Inc. Member FINRA/SIPC. Investment advisory services offered through Carter Advisory Services Inc. and Raymond James Financial Services Advisors, Inc. Carter Financial Management and Carter Advisory Services, Inc. are not registered broker/dealers and are independent of Raymond James Financial Services.

carter wealth.com | 214-36 3-4200 | 12222 Merit Dr. Suite 1800 Dallas, TX 75251

CarterFinancial.indd 1

8/31/22 8:56 PM

DOSSIER

GYM GROWTH

Hays’ wife, Brittany Grignon, has grown Session Pilates to four locations across DFW.

WHEELS UP

BBQ joint Ferris Wheelers (above) was born after This & That purchased an actual Ferris wheel.

ITALIAN CHARM The fourth Sfuzzi iteration serves Italian cuisine at its new spot on Henderson.

POP-UP FUN

The Whip (below right) is known for its themed pop ups, such as Game of Thrones.

FOOD & BEVERAGE

Venues With a Sense of Whimsy This & That Hospitality Group continues to expand its portfolio of playful restaurants, bars, and fitness concepts. story by KELSEY J. VANDERSCHOOT

030

phil schanbaum was just 20 years old when he opened his first restaurant, M Street Bar, in the Lower Greenville space that’s now occupied

by Sundown at Granada. He sold it a year later and became a promoter at a nightclub, where he met another promoter, Brandon Hays. Together, they went on to launch This & That Hospitality Group and now own and operate six restaurants and two fitness ventures (see sidebar), with plans to open a bar in the Design District this month.

Early on, Schanbaum and Hays met Robert Colombo, former owner of Dallas-based Italian chain Sfuzzi, whose first iteration in the late 1980s had 20 locations and generated annual

OCTOBER 2022

D_ThisAndThat_1022.indd 30

8/31/22 10:32 AM

DOSSIER

FAST FRIENDS

This & That founders Phil Schanbaum (left) and Brandon Hays met while working in nightlife.

P H OTO S C O U R T E S Y O F T H I S & T H A T H O S P I T A L I T Y A N D K A T H Y T R A N

sales of $30 million. At the time, the two were running a nightclub that neighbored Colombo’s concept Trece. Colombo shared his goal of resurrecting Sfuzzi, whose owners went bankrupt in ’87, and Schanbaum and Hays wanted to segue from nightlife to restaurants. “It’s only so much fun to ask your friends to spend $1,000 a night for so long,” Hays says.

With others, the three relaunched Sfuzzi in ’09. Despite its success— generating more than $200,000 a month in revenue, Hays says—the operating company over it went bankrupt after four years.

Several members of the Sfuzzi team also launched Uptown’s Standard Pour a year prior. Hays drew out the concept on a napkin and created the food program with Schanbaum and others, partnering with mixologist Brian McCullough for the extensive cocktail menu.

What began as Hays’ doodle still operates successfully today, and Hays remained a partner until it was bought by Parliament owner Eddie Campbell in 2018. After Sfuzzi shuttered, Hays and Schanbaum launched their own company. “That’s where This & That Hospitality really got its genesis,” Hays says.

The group’s first concept, a New American bar and restaurant called So & So’s on McKinney Avenue, opened in 2014. “We saw a truck pass by and were like, ‘We need something like so and so’s and sons,’” Schanbaum says. “Then we thought, ‘Why don’t we just call it So & So’s?’”

The venue closed in 2017—after he and Hays opened two more bars on Henderson Avenue.

The duo jumped on an opportunity to tap softly into their roots. “We’d been away from the

DCEOMAGAZINE.COM

D_ThisAndThat_1022.indd 31

nightclub stuff for long enough to where it was a hankering for us to have this party bar thing,” Hays says. While they were in construction on what would become The Whippersnapper—a nightclub now known for its themed popups—the space next door became vacant.

Hays and Schanbaum converted it into a patio bar called High Fives in 2015. The Whip opened a year later, combining disco and dive-bar feels. “We took a lot of the pretentiousness out of Dallas nightlife,” Hays says.

Since then, This & That Hospitality launched Design District draw Ferris Wheelers Barbecue, born when a friend sold Hays and Schanbaum an actual Ferris wheel, Pan-Asian restaurant and cocktail lounge Alice on Ross Avenue, and 1,000square-foot bar Tiny Victories in Oak Cliff. “We have a healthy appetite, and we really don’t like sleeping a whole lot, so we try to do as much as possible,” Schanbaum says.

The duo also reopened Sfuzzi last spring—this time as owners and operators—on Henderson, retaining the concept’s bones. “It’s full circle,” Hays says. “It’s where we cut our teeth. Now, we get to come back and do it with our experience.”

Next up? A neighborhood bar called Double D’s (short for Design District) will open on Riverfront Boulevard this month, catering in part to restaurant-goers seeking post-dinner drinks.

It will serve pizza and sundaes, in addition to a wide range of cocktails and an elevated wine list. “Every great neighborhood deserves a great bar, right?” Schanbaum says.

Getting Into the Fitness Ring Besides their growing restaurant portfolio, Brandon Hays and Phil Schanbaum own two fitne s brands.

Session Pilates, a concept created and operated by Hays’ wife, Brittany Grignon, has grown to four locations across Dallas-Fort Worth since its launch in 2016. “We see a lot of dualities between fitne s and hospitality, and Dallas loves that,” Hays says. Seeing a gap in the market when boxing brands Rumble and Shadowbox sold to a franchise model and went out of business, respectively, the duo recently opened a gym called Ding Ding on Ross Avenue. “You look around and see just [two Title boxing clubs in Dallas], and we thought this was a clear indication that there was a demand for it and just not enough supply,” Schanbaum says.

OCTOBER 2022

031

8/31/22 10:33 AM

DOSSIER

O N T H E TA B L E

Arun Agarwal Brings Business Savvy to Greenspace The Nextt CEO and Dallas Park Board president talks about carbon credits and the forthcoming 110-acre Parkdale Lake Park.

story by WILL MADDOX illustration by JAKE MEYERS

032

OCTOBER 2022

D_OTT_Agarwal_1022.indd 32

here’s the thing people have figured out about Arun Agarwal: he will step up to serve where he thinks he can make an impact. He has been doing so since he arrived in the United States from India to attend graduate school in New Hampshire when his classmates put his name down to be president of the graduate student association without his knowledge. He accepted the opportunity to serve—and has been doing so ever since.

We met for lunch at Park House on a hot late-August day and were instantly refreshed by some house-made guacamole. He ordered his usual, the vegan meatballs, while I opted for the restaurant’s poke bowl. After giving me a few Indian food recommendations and telling me about his daughter’s progress toward becoming a cardiologist, we began talking about his latest passion: Dallas parks.

Agarwal’s day job is the CEO of the wildly successful Dallas-based textile company Nextt, but he has been on the Dallas Park Board as Mayor Eric Johnson’s representative for two years and was voted president of the board in September 2021.

He is bringing his business operations expertise to the role, pushing for more awareness, responsiveness, and better reservation systems, but he’ll call in a downed limb on Katy Trail if he sees one.

“I did not look for it at all,” he says of his volunteer leadership. “I have always tried to take a very background role, but when opportunities come, we can make a difference.”

Top of mind for Agarwal is Parkdale Lake Park, a 110-acre plot given to the City of Dallas by

Oncor, the largest donation to the city since 1938.

The park will include a flood mitigation lake and help the city complete The Loop, a 50-mile trail connecting the Great Trinity Forest to White Rock Lake, the Trinity River, and Uptown.

Agarwal personally paid for conceptual drawings of the park and joined Lyda Hill Philanthropies, which provided funds to finish the master plans for Parkdale. Protecting parks and greenspace is not antithetical to growing business, he says. One can lead to the other.

The CEO also aims to resurrect a plan to sell carbon credits to protect Dallas’ greenspace, including the country’s largest urban forest. First introduced in 2008, the plan lets businesses that want to offset their emissions purchase credits that will be used to fund the preservation of the Great Trinity Forest. Agarwal says the program could raise $20 million to $25 million over the next 40 years. The city council and park board are exploring the plan’s feasibility.

Greenspace isn’t the only area where Agarwal has been asked to serve. Gov. Greg Abbott recently named him vice chairman of the Texas Economic Development Corp. Board of Directors. The organization is part of a public-private partnership marketing the state domestically and globally as an excellent place for business.

Agarwal accompanied Abbott on a trip to India in 2018 to promote Texas business, making Abbott the first U.S. governor to meet with the Indian prime minister.

Agarwal is bullish on Texas’ future international partnerships and economic prowess but works to balance development with protecting our city’s greatest natural assets. He sees his service as a karmic move that will come back to benefit him. So far, he says, he has been right. “A lot of times, life has pushed me into leadership,” he says. “It has made me take responsibility and make it happen.”

DCEOMAGAZINE.COM

8/29/22 8:09 AM

Munsch.indd 1

8/31/22 9:02 PM

AGENDA

D CEO’s Nonprofit and Corporate Citizenship Awards

Carole West, Tori Mannes, John Owen, Leigh Fugger-Smith

more than 500 guests gathered in late july to celebrate the fifth annual Nonprofit and Corpo ate Citizenship Awards, presented by D CEO in partnership with Communities Foundation of Texas. The festive evening, held at The Factory in Deep Ellum, brought together the outstanding leaders, organizations, and corporate citizens who are working tirelessly to make Dallas even better. A highlight of the evening was when Trusted World’s Caleb Wood received a standing ovation after winning the Volunteer of the Year award.

Thank you to title sponsors Amazon, Capital One, Communities Foundation of Texas, Texas Mutual Insurance, and Tito’s for their help in making this inspirational event possible.

Andi Wood, Caleb Wood Miki Woodard

Morgan Spann, Lindsay Benedetto, Maria Hobby

Kristen Pereira, Christine Vu, Roscoe Compton-Kelly, Devon Lockard

Tracey Doi, Mylihn Luong

Marissa Horne, Michael Horne

034

OCTOBER 2022

PP_NonProfit_1022.indd 34

Debbie Carimi, Tony Carimi

P H OTO G R A P H Y BY B R E T R E D M A N

Al Montoya, Marty Turco, Matt Bowman

Jon Friedenberg, Julie Shrell, Rob Shrell

DCEOMAGAZINE.COM

9/1/22 3:44 PM

Our only vested interest is our clients.

At RGT, our approach to wealth management is as personal as your hopes and dreams for the future. As an independent firm, we create tailored plans based on objective guidance. And we believe in taking care of you personally.

If the wealth you’ve worked for all your life Of course, we also treat our team members with the same care and respect.

That’s why we were recently named one of the best places to work by the seems in question right now…we’ve got answers.

Dallas Business Journal.

We invite you to learn how rewarding a wealth advisory relationship can be.

Contact us to arrange a face-to-face meeting today.

rgtadvisors.com

3RGT150006 DCEO RS Ad_03ef.indd 1 RGT.indd 2

•

214.360.7000

C E LE B RATING

CELEBRATING

O F S E RVI C E

OF SERVICE

30 YEARS

35 YEARS

1/14/16 1:50 PM 8/31/22 9:05 PM

AGENDA

Jennifer Bartkowski, Ashley O’Neill, Kim Lyle

Terri Leib, Natalie Boyle, Christine Thomas Jennifer Roye, Cheryl Stagner, Holli McCasland

D CEO’s Women’s Leadership Symposium 2022 a crowd of more than 500 gathered at the hilton anatole on June 29 for D CEO’s sixth annual Women’s Leadership Symposium. Before breakfast and networking, attendees participated in a pre-session mindfulness meditation with Leah Frazier. Then it was on with the show, with dynamic, inspirational speakers who shared their insights and real talk about career challenges and opportunities. A huge thank you to our title sponsors—Amazon, Benchmark Income Group, Girl Scouts of NorthEast Texas, Munck Wilson Mandala, Samsung, Texas Women’s Foundation, Texas Woman’s University, and Truist Bank—and to all speakers, panelists, and attendees for making this event one to remember.

Torrie Clark, Taylor Torcellini

Abby Sly, Alex Lane, Jessica Segebarth, Allison Jordan

Amy LaValle, Lauren Mitchell, Jordan Strauss

Jocelyn Phillips, Devin Butler, Joelle Hinds

036

OCTOBER 2022

PP_WLS_1022.indd 36

Cynt Marshall, Alison Battiste

P H OTO G R A P H Y BY B R E T R E D M A N

Sandra McNeil, Janet Lee, Renda Mathew

Stephanie Robinson, Jenny Martinez, Veronica Torres Hazley

DCEOMAGAZINE.COM

9/1/22 4:02 PM

ADVERTISEMENT

SECTION NAME

ASK THE EXPERT

Persuasion Skills: Utilizing Calamity R O G G E D U N N , C EO, R O G G E D U N N G R O U P

c-level execs, managers, and entrepreneurs make daily sales pitches. Whether you’re trying to motivate an employee, sell goods or services, obtain funding, or win an argument with family or friends, persuasion skills are essential. This article details another proven persuasion technique.

Tragedy, calamity, and catastrophe capture and retain almost everyone’s attention. When you describe a misfortune or how what you are advocating can prevent a disaster, your ability to persuade is enhanced.

Why do newscasts feature a deadly car wreck in a distant city? Why do people on the opposite side of a road slow down and take a long look at a crash? It’s not blocking their path or involving them in any way. Yet almost every motorist slows down to view an actual or possible tragedy. There is no logical reason to do this, but it’s an inherent, deep-seated, primal reaction.

No study or analysis captures this concept better than Don Henley’s exquisite songwriting as performed by the Eagles in Dirty Laundry: “Make my livin’ off the venin’ news Just give me somethin’, somethin’ I can use People love it when you lose They love dirty laundry We got the bubble-headed, bleached-blonde, comes on at fiv She can tell you ‘bout the plane crash with a gleam in her eye It’s interesting when people die Give us dirty laundry Can we film the op ration? Is the head dead yet?

You know, the boys in the newsroom got a running bet Get the widow on the set!

We need dirty laundry

DCEOMAGAZINE.COM

ATE_RoggeDunn_1022.indd 37

Dirty little secrets, dirty little lies We got our dirty little fing rs in everybody’s pie We love to cut you down to size We love dirty laundry” Great Roman, Greek, and English authors and playwrights use tragedy to effectively gain and hold their audience’s attention. Viewers and readers want to learn about how the calamity occurred, the consequences of the misfortune, and how same can be prevented in the future.

The challenge, of course, is finding a calamity, or potential calamity, related to a product, service, or position when you are trying to persuade. Your sales pitch should describe how a colossal failure could have b een prevented, or will b e prevented, in the future b y accepting the concept you are promoting. Show how an executive or senior manager lost their job or how a company went bankrupt by not addressing a pressing need when they did not purchase a product or service like the one you are selling, which would have prevented a monumental setback.

The Takeaway: Demonstrate how people who have rejected your proposal have suff red severe consequences when they didn’t emb race what you are selling.

500 N. Akard Street, Suite 1900 Dallas, Texas 75201 214.888.5000 | info@roggedunngroup.com

ROGGE DUNN represents companies, executives, financial advisors, and entrepreneurs in business and employment matters.

Clients include the CEOs of American Airlines, Baker Hughes, Beck Group, Blucora, Crow Holdings, Dave & Busters, Gold’s Gym, FedEx, HKS, Texas Motor Speedway, Texas Capital Bancshares, and Texas Tech University, and sports figures like New York Mets manager Buck Showalter, NBA executive Donnie Nelson, and NBA Hall of Fame coach Larry Brown.

Dunn’s corporate clients include Adecco, Beal Bank, Benihana, Cawley Partners, CBRE, Match.com, Rent-A-Center, and Outback Steakhouse.

In 2021 and 2022 Dunn was included in D CEO Magazine’s Dallas 500 list, which recognizes the most influential business leaders in North Texas.

He has been named a Texas Super Lawyer every year that award has been given and recognized as one of the top 100 attorneys in Texas by Texas Monthly (a Thomson Reuters service) and a D Magazine Best Lawyer 14 times.

OCTOBER 2022

037

8/30/22 9:10 AM

THE RANCH KING Australian entrepreneur Bernard Uechtritz’s vision and grit helped him overcome roadblocks to lead in the high-stakes world of luxury ranch sales in Texas and beyond. story by JENNIFER portrait by SEAN

038

WA R R E N

BERRY

OCTOBER 2022

F_Bernie_1022.indd 38

9/6/22 1:52 PM

F_Bernie_1022.indd 39

9/6/22 1:52 PM

“I see a polo field ” he says, surveying part of the 6,000-acre property. The tempo of melodic hills had given way to a spacious, wide expanse of pristine grass cover, a native Texas-sized prairie grass pasture. Such a large ranch near the lure of Dallas is part of the future of land, as Uechtritz (pronounced you-tridge) portends it to be.

The 57-year-old has earned the right to forecast the future of real estate. His story is uncommon but not entirely unique to entrepreneurs who constantly innovate and adapt. His company, Dallas-based Icon Global, markets high-end, iconic real estate; as named, so delivered. His is the high-octane world of large ranches, complex deals, secrecy, and a learned approach that generates sales at prices rarely seen.

Uechtritz’s story began in Rockhampton, Australia, a town known for sugar cane, rum, and cattle.

Off the eastern part of Queensland, it sits north of Brisbane and the Gold Coast. He was mostly raised in Papua New Guinea, with a few stints at boarding schools in New Zealand and Australia. Since the age of 3, he was speaking an older version of Pidgin

040

OCTOBER 2022

F_Bernie_1022.indd 40

English, a creolized language spoken by native New Guineans. By age 16, he was managing a large plantation—one that was home to cocoa and coconut production, 4,000 head of cattle, and 150 water buffalo. Those early New Guinea days had a significant impact on his life. It was 50 dusty miles to the nearest town of Lae, roughly halfway between the equator and the 15th parallel in the South Pacifi Ocean, north of his Australian birthplace.

In managing the plantation, Uechtritz worked with as many as 500 New Guineans from a half-dozen tribes. They taught him quick decision-making and He specializes in luxury ranches today, the duty of leading many people—tracbut Uechtritz began tor drivers, plantation workers, cowboys, his career by selling distressed properties and the like. “I had to be a doctor, lawyer, in California. marriage counselor, and peacekeeper,” he says. “It was a great responsibility and character-building, requiring an abundance of communications skills.” He was essentially a sheriff who had to use farm management skills. The experience also introduced him to land transactions; the love of the deal took root in New Guinea.

But the United States was beckoning. Uechtritz was “consciously enamored with all things America,” he says. The eighth of 11 children, he spent much time alongside his father, rebuilding U.S. Army Jeeps and exploring miles of steep, marshy New Guinean kunai plains, mountains, and valleys, looking for war relics. The villagers’ storytelling in Pidgin English was always about heroic U.S. soldiers who came and saved their country, saying, “Ol hap man tru ya, dispela line bilong America,” a phrase imprinted in Uechtritz’s mind. He translates to me, “The Americans were legendary, strong, and brave soldiers—larger than life.”

Saturday treks to Lae to watch matinees of John Wayne as a marine in the morning, then True Grit in the afternoon, further sealed the deal. At a German-American Missionary boarding school in the primitive, mountainous goldmining town of Wau, he became even more enamored with the Uechtritz has been passionate idea of moving to the states. about horses and A difference of opinion with a boss in New Guinea compelled polocrosse since he was a young him to venture to Kentucky in 1986. He arrived with a saddle, six child growing up in polocrosse racquets, and $800. He joined a landscaping crew, New Guinea.

P H OTO G R A P H Y C O U R T E S Y O F B E R N A R D U E C H T R I T Z A N D I C O N G L O B A L

Gazing out at an expansive new listing in southern Dallas, ranch broker to the stars Bernard “Bernie” Uechtritz narrates how the land becomes rolling hills at roughly this very point in Texas, unlike the flatla ds in the highly developed region north of the city.

DCEOMAGAZINE.COM

9/6/22 7:03 PM

When it comes to ranch sales, Bernie Uechtritz smokes the competition.

P H OTO G R A P H Y C O U R T E S Y O F B E R N A R D U E C H T R I T Z A N D I C O N G L O B A L

Last year, privately held Sotheby’s International Realty highlighted its top deal—a Florida property that sold for $99 million.

Publicly traded Compass showcased its highest sale, a Jackson Hole ranch that sold for $65 million. Icon Global soundly trumped them both with the $240 million sale of Sandow Lakes Ranch, augmented by a series of deals in the $100 million to $150 million category. “I sell ranches really well,” Uechtritz says matter-of-factly.

earning the state wage of $4.83 per hour. “I survived in Kentucky and broke through the blueblood veil when I began playing polo,” he says. The strategy of creating opportunity outside of borders, within the cracks, would resurface when he founded Icon Global.

Horses and polocrosse have been a thread in Uechtritz’s life since he was young. As a teenager, his seriousness about the sport led to international tours. In America, he was determined to help polocrosse gain wider appeal. “As far as I was concerned, I was going to convert the whole world [to polocrosse],” he says. From Kentucky, he traveled around and formed polocrosse clubs across the country and in Uruguay and Ireland, many of which exist today.

IN THE EARLY 1990S, Uechtritz left Kentucky to seek his fortune in real estate in Los Angeles. With his lack of truly relevant experience, getting into the market was initially intimidating. But Uechtritz has never been one to let fear get in the way, and he soon realized the business wasn’t that complicated. “It was closer to trading horses,” he says. He cut his teeth on the headwinds of a recession, the Malibu wildfires, and the costliest earthquake on record in 1994.

DCEOMAGAZINE.COM

F_Bernie_1022.indd 41

As a youngster, Uechtritz would go on frequent expeditions with his father, often findin war relics along the way.

Uechtritz found his niche by focusing on properties others didn’t want to touch. This led him to one of his early breakout deals—the notorious Menendez estate—building his portfolio of deals and then buying a real estate franchise. “I was disrupting that part of the industry,” he says. “While others were dodging the repo man, I needed to go in the opposite direction, embrace the market, and figure out how to sell tuff.”

During this time, he became friends with Peter Radd, a New Zealander who was also working in

OCTOBER 2022

041

9/6/22 1:53 PM

042

OCTOBER 2022

F_Bernie_1022.indd 42

DCEOMAGAZINE.COM

9/6/22 3:39 PM

P H OTO G R A P H Y C O U R T E S Y O F B E R N A R D U E C H T R I T Z A N D I C O N G L O B A L

real estate. Radd was amused—and impressed—

by Uechtritz’s ingenuity. “Bernie would get these distressed properties, live in them, and structure equity deals with the owner with a 75/25 split. He was the 75 percent portion, the owner, 25.”

The strategy worked, and Uechtritz soon had hundreds of brokers working for him. His purview stretched from Beverly Hills to Malibu, Hidden Hills to Calabasas. Celebrities and other power brokers became his clients and part of his black book— an elaborate network he’d continue to build later in Texas. He sold his firm, FrontGate Properties, in the early 2000s, freeing him to conquer the Lone Star State. Radd sums things up: “Armed with ce-

UECHTRITZ SAYS HE finds bits of John Wayne in many of his ultra-high net worth sellers and buyers. Through the years, he has learned to identify and pair the best steward to shepherd the legacy properties. Marketing the massive expanses of land requires both a scientific and artful approach. “One of my tenets is that every property has a story to tell, and my job is to tell those stories,” Uechtritz says. “In my position, I’m dealing with substantial assets for an owner, heirs, beneficiaries, or conglomerates. It’s a great responsibility.”

Alongside developing Icon Global, he advised Sotheby’s International on forming a global ranch division. Then came the historic W.T. Waggoner Ranch, a 535,000acre property that sprawls across six Texas counties. After gaining control of the listing, Uechtritz saved it from being auctioned off or carved up. The Waggoner had been under “continuous litigation for 25 years,” says Kelly Hart attorney Glen Johnson, who represented the estate’s majority-interest owner, Bucky Wharton.

Uechtritz was determined to look past that drama and focus on Uechtritz moved to America in 1986. the land and its story. The ranch was established in Wise Coun"I have embraced ty in 1849 by 21-year-old Dan Waggoner for his six horses and this country and its opportunities, and 242 head of Longhorn cattle. He and his son, W.T. Waggoner, it has embraced aggressively expanded over the years to the point that it became me," he says. larger than the boundaries of Los Angeles and New York City combined. The pot was sweetened when they discovered oil on the property.

Uechtritz came up with a listing price of $725 million—more than double what others were suggesting—and found a buyer in billionaire Stan Kroenke, whose professional sports holdings include the Los Angeles Rams and Denver Nuggets.

After the watershed sale, expectations of sellers that followed were ridiculously high, Uechtritz says. He and Icon Global had captured “the high-risk, high-reward space that no one had aggregated, whether it was the Menendez estate, W.T. Waggoner, or everything in between.”

P O R T R A I T BY S E A N B E R R Y

lebrity names, stories of Los Angeles, and his brush with Hollywood, Bernie parlayed that for his Texas endeavors.”

Uechtritz’s unconventional style was appreciated by the colorful entrepreneurs that Texas breeds, and his timing for targeting the state could not have been better. It was becoming ground zero for one of the most important developments in modern energy history—the shale oil and gas revolution.

His ranch niche would nicely complement the land rush and emerging energy boom and, eventually, the energy transition.

P H OTO G R A P H Y C O U R T E S Y O F B E R N A R D U E C H T R I T Z A N D I C O N G L O B A L

P O R T R A I T BY S E A N B E R R Y

As his list of high-profile “sold” properties accumulated—the Moodys’ Rio Bonito, the Fortson/Carter family's KB Carter Ranch, Kyle Bass’ Barefoot Ranch—new opportunities were emerging. In late 2015, global firm Alcoa tasked Icon Global with selling 31,000 acres of Texas farmland and industrial assets, including one of the world’s largest decommissioned aluminum smelters. Rebranded by Uechtritz as Sandow Lakes Ranch, it was ultimately sold for $240 million in November 2021 after a six-year marketing odyssey. The natural reconstruction of the property—14 lakes, tens of thousands of acres of pastoral grasses, sandy loam soils, and its massive water resources—was part of its metamorphosis. Sandow Lakes Ranch was a pioneering deal that went beyond a ranch to include industrial. Uechtritz calls it a hybrid, crossover ranch space.

A recent significant deal for his client ExxonMobil also illuminates the complexities of dealing with large transactions. It requires a unique skill set that involves “understanding the assets themselves to representing conglomerates’ endless departments and approvals, committees, and sign-offs ” Uechtritz says. “An initial Zoom call included roughly 30 people.”

The super-broker’s star is rising at a time when the value of land is receiving more attention, with the COVID pandemic, climate change concerns, the reckoning from more than a decade of easy monetary policies, infl tion, and the ripple effe ts of Russia’s invasion of Ukraine. “There is an aggressive awakening and appreciation for the asset class as an investment to a sophisticated, even scientific, financial set,” Uechtritz says, noting that the future of energy and the food chain are both dependent on land— infrastructure development, too. “[Buyers] are no longer a Ted Turner, wanting to buy a cowboy hat, a lambskin coat, and cool boots, with a herd of buffalo. They are buying to extract oil and gas, sequester carbon, capture water, and for renewables. The hybrid space is the most important class of real estate in the future.”

ICON GLOBAL’S LARGE-scale deals and listings make headlines, a recent example being the $200 million Turkey Track Ranch in the Texas panhandle. But ranches in the $5 million to $10 million and up to $50 million markets are equally on-the-money for Uechtritz, along with the hybrid $200 million+ quasi-industrial properties. These deals are not quite a ranch but no longer a mining site (as with Sandow Lakes, for example). Think wind, solar, water, and fibe .

To stay ahead of the game, Uechtritz recently enlisted the aid of property and climate tech firm Landgate. Buyers, sellers, and investors can learn about the highest and best uses of a piece of property from the company’s land resources data. CEO Craig Kaiser notes that Uechtritz “has been looking at the whole layers of [land’s potential] for some time—the due diligence that a venture capital, private equity, or energy company would initiate for transacting.”

According to Uechtritz, his industry is approaching obsolescence and beckoning disruption. He has spent the last five or six years working to crack the code. “The ranch brokerage business is about to get a kick in the ass because it needs it; it’s archaic, defunct, and long f---ing overdue.” The most successful brokers going forward “will be part marketer, have boots-on-the-ground, and be part scientist,” he adds. They will have the best chance of succeeding in a “historic market acceleration.”

Breaking through the status quo has always been Uechtritz' s approach. And he continues to evolve. It’s no longer about closing the biggest deals, he says. His focus is on quality, not quantity, and value to the customer, culture, and society. And the three leadership strategies he values most? “Integrity, straight talk, and backbone,” he says.

Looking ahead, Uechtritz says he aims to deliver value on a different scale under a new agenda—one that even more deeply refle ts the importance of the properties he brokers. “At the end of the day, beneath it all is the land,” he says. “No matter what kind of apocalypse the world encounters, it will still depend on life-giving land. If we start developing the moon, it’s still going to be land—it’s just moon land.”

DCEOMAGAZINE.COM

F_Bernie_1022.indd 43

Icon Global's Bernie Uechtritz has become a go-to ranch broker by selling landmark properties in Texas and beyond. Here’s a look at some of his largest transactions.

W. T. WAG G O N E R VALUE: $725 Million | YEAR: 2016

S H A D OW L A K E S R A N C H VALUE: $240 Million | YEAR: 2021

T H E R E S E R V E /S U L P H U R B L U F F VALUE: $84 Million | YEAR: 2019

BAREFOOT R ANCH VALUE: $59.5 Million | YEAR: 2018

OCTOBER 2022

043

9/6/22 3:40 PM

N E X T- G E N R E S TA U R AT E U R S

Next-generation restaurateurs help keep family dynasties going while adding new twists of their own. of the most grueling industries out there. That’s especially true in a fiercely competitive market like Dallas, which allegedly has more restaurants per capita than any other major U.S. metro and was named Restaurant City of the Year by no less than Bon Appétit in pre-pandemic 2019. But it also is a rewarding blend of art and science and allows one to create memorable experiences for others. For some, the business is in their blood. They grew up watching their parents and grandparents build successful restaurant operations and decided they wanted to continue the legacy. Sam Romano, son of industry icon Phil Romano, was seating diners when he was just 7 years old. John McBride, a fourth-generation descendent of El Fenix founder Miguel Martinez, initially thought he’d pursue a different career, but the lure of the kitchen was too strong. For Alexis and Oliver Barbier-Mueller, sons of Harwood district developer Gabriel Barbier-Mueller, the segue into restaurants was an accidental path. But along with managing three other lines of business for Harwood International, they’ve built a restaurant powerhouse, with 10 existing venues and 10 more slated to open before the end of 2023. Read on to learn how they’re all finding their own way in this fascinating industry.

T H E R E S TAU R A N T B U S I N E S S I S O N E

No Reservation portraits by

SEAN BERRY

stories by CHRISTINE

044

PEREZ

AND

K E L S E Y J . VA N D E R S C H O O T

OCTOBER 2022

F_Restaurant_1022.indd 44

9/6/22 1:55 PM

ons F_Restaurant_1022.indd 45

9/6/22 1:55 PM

N E X T- G E N R E S TA U R AT E U R S

26-year-old Sam Romano hopes to build on the success of his famous father, Phil Romano, at the Uptown steakhouse, Nick & Sam’s.

I T H A P I N T H AT R E A D , “ I AC C E P T

Just one phone call from his father compelled Sam Romano to join the family business.

In his new role at Nick & Sam’s, he is focusing on operations and building relationships.

One day, Sam aims to take on an even larger role with Romano Enterprises.

046

tips” attached to his lapel, a 7-year-old Sam Romano listened as Chas Martin, the former manager of Uptown steakhouse Nick & Sam’s, encouraged the youngster to seat tables. He watched as his famous father Phil, the brains behind Fuddruckers, Eatzi’s, Nick & Sam’s, and more than a dozen other restaurant concepts, connected with customers. “People knew him and respected him, and they were grateful to be in the restaurant,” Sam says, “I’m grateful that they’re coming into the restaurant still—now that I’m part of it.”

The younger Romano became majority owner and general partner of his namesake venue earlier this year, answering a literal call to leadership: his father phoned halfway through Sam’s time playing lacrosse and studying sports management at Syracuse University, inviting his son to enter the family business. “It just took him saying, ‘Alright, it’s time,’ for me to dive in,” Sam recalls.

The young leader, who had ranked No. 27 in the nation as a high school lacrosse recruit, hung up the phone, enrolled in summer classes, and graduated a year early so he could return to Dallas.

Now, he’s hoping to leverage more than 20 years of lessons, values, and principles gleaned from his father to help Nick & Sam’s continue to thrive, while putting his own spin on leadership. “I’m not motivated by money but more so making a difference and making a name for myself, aside from being my father’s son,” Sam says.

He notes that he tries to live the foundations of integrity, responsibility, patriotism, God, charity, communication, and other values that Phil taught him growing up.

Loyalty has become his No. 1 tenet, passed on from his father. “People will come and go, and you have to cling on to the ones that will be loyal,” he says. “That’s why I think loyalty is king, especially in our industry.”

Many of the people Sam works with have been Nick & Sam’s employees since the restaurant opened in 1999, including Chef Samir Durandhar, who Sam calls “a culinary genius.” Though Durandhar and other key leaders are much older than he is at a young 25, Sam says it feels like he’s working with family. He tells them often they are not working for him, but with him. “To rely and to lean on the people who I’ve known forever who have worked in the restaurant has been special,” he says. He sees maintaining those relationships as essential.

“I’d like to think that my dad is sort of like The Godfather; he knows best, and I know that he knows best, and what he says goes,” Sam says. “These are all his babies, if you will: these businesses. So, we’ve always got to respect that. I think what I come in and do is have a relationship with the people who are running the businesses with us, the people who work for us, and get to know them on a personal level, because that’s how we sustain longevity.”

So far, Sam has left menu changes to Dhurandhar and focused on sustaining solid operations, with an eye toward potential expansion. “Expanding to another city is a conversation we’ve had, but for right now we want to be Dallas’ best,” he says. He admits to visiting similar steakhouses in other cities to see “what turns each market on,” just in case the timing for expansion becomes right.

Already heavily involved in Romano Enterprises, he aims to one day take on an ever larger role with his father’s roughly 25 restaurant concepts. He has also begun his own investment venture (see sidebar), and, in the future, he says, he may guide his children as his father guides him. “Hopefully, they’d like to be in the industry, too, and we pass on the family business and the next generation of Romanos,” he says.

P H OTO G R A P H Y C O U R T E S Y O F S A M R O M A N O

Making a Name for Himself

OCTOBER 2022

F_Restaurant_1022.indd 46

9/6/22 1:55 PM

The restaurateur aims to impact the future with side investments.

P H OTO G R A P H Y C O U R T E S Y O F S A M R O M A N O

Ever since Sam Romano joined his father’s business, he has also made investments through an eponymous entity, SP Romano Ventures.

His father Phil was an early investor in gastric bypass surgery and the heart stent.

“He actually has two heart stents, so he always jokes that he saved his own life,” Sam laughs. John Paul Merritt of Pony Oil, one of Sam’s mentors, helped him expand into other opportunities, such as cannabis and hemp. SP Romano Ventures invested in Delta Ag, a hemp company founded

by Merritt, as well as a California company that grows and researches hemp as a means of addressing PTSD in veterans and fir t responders.

“We want to make money from an investment—anybody does,” Romano says.

“But we also want to find something th t is going to make a difference for people.”

DCEOMAGAZINE.COM

F_Restaurant_1022.indd 47

OCTOBER 2022

047

9/6/22 1:56 PM

N E X T- G E N R E S TA U R AT E U R S

Building an Empire The 400-person hospitality group is one of four verticals Alexis Barbier-Mueller and Oliver Barbier-Mueller lead at Harwood International.

HE SONS OF GABRIEL BARBIER-

Mueller, the founder and chairman of Harwood International and developer of Dallas’ Harwood District, never intended to get into the restaurant business. But they’re now in it—in a big way. Harwood’s hospitality group (which includes restaurants, catering, and hotels) is one of four divisions Alexis and Oliver Barbier-Mueller lead as co-presidents

Alexis BarbierMueller worked in banking in Geneva before returning to Dallas in 2012.

048

OCTOBER 2022

F_Restaurant_1022.indd 48

Gabriel, Alexis, and Oliver Barbier-Mueller break ground on a new Harwood office tower.

of their family’s company. They also manage its other three formidable verticals: leasing and asset management, development and construction, and capital markets. Combined, the Harwood International groups have about 700 employees.

Gabriel grew up in Geneva, Switzerland. He moved to Dallas in 1979 and began developing Harwood District on the western edge of Uptown in the mid-1980s.

His sons took different routes to arrive at the same destination. After graduating from The University of Texas at Austin, Alexis, 39, worked in banking in Switzerland for several years, then joined Harwood’s offi in London. (The company also has an offic in Geneva.)

In 2012, after two-and-a-half years in England, he returned to Dallas. “We had raised and deployed quite a bit of money, some of it through Harwood International,” Alexis says. “I wanted to be back in Dallas and also work on some of the investments we had done.”

Oliver, 35, graduated from Texas Christian University and then worked for Vacheron Constantin, a watch company in Geneva, doing supply-chain management and managing global sales points and inventory. After a little more than two years, he returned to Texas and got a job as an assistant superintendent at a construction company in Fort Worth. “I was out in the field, learning the more nuts and bolts side of development,” he says.

Seeing steep markups on materials led him to launch a

Harwood’s popular Dolce Riviera reopened in 2022, after closing during the pandemic.

DCEOMAGAZINE.COM

9/6/22 1:56 PM

P H OTO G R A P H Y BY R E N A T O R I M A C H P H O T O G R A P H Y , R E B E C C A A D L E R , G L A N G E R P H O T O G R A P H Y , R O B E R T U N D E R W O O D , A N D C O U R T E S Y H A R W O O D I N T E R N A T I O N A L

Food at the upscale Dolce Riviera was inspired by the coast of the Italian Riviera.

P H OTO G R A P H Y BY R E N A T O R I M A C H P H O T O G R A P H Y , R E B E C C A A D L E R , G L A N G E R P H O T O G R A P H Y , R O B E R T U N D E R W O O D , A N D C O U R T E S Y H A R W O O D I N T E R N A T I O N A L

The Grove is an outdoor-minded and dog friendly spot. It was one of three venues to open in 2015.

Te Deseo, the eighth concept to open, features Latin American cuisine and craft cocktails.

Oliver BarbierMueller worked in construction to learn the nuts and bolts of development.

Saint Ann Restaurant boasts one of the largest outdoor dining areas in Dallas.

construction procurement company; his father let him take a shot at Harwood District’s latest offic project, Frost Tower. “That was my segue into the company,” Oliver says. “Then we started doing vertical integration, forming an architectural firm that has become the architect of record for our projects. I was largely overseeing development for the fir t eight years. Then the past couple of years or so, Alexis and I have stepped up to head the four verticals, co-running operations.”

A RE STAU R ANT F O R C E I S B O R N For years, the only eatery in the Harwood District was Marie Gabrielle Restaurant and Gardens. Developed in 1997, it served as an amenity for the growing tenant base. Thirteen years later, a second venue was added— Saint Ann Restaurant & Bar, a restoration of a historic schoolhouse that was built in 1927 and sits on the same tract as Harwood’s Saint Ann Court offic building.

Mercat Bistro opened in 2013 on the ground floor of Saint Ann Court as a place for tenants to get European-style coffee and breakfa t and lunch fare.

Meanwhile, Harwood evolved from an offic park to more of a city within a city. Two residential towers, the 31-story Azure and the 33-story Bleu Ciel, opened in 2007 and 2017, respectively. As part of the shift, the family doubled down on walkability, safety, and green space, and began seeking more feedback from tenants and residents about what the district was missing.

DCEOMAGAZINE.COM

F_Restaurant_1022.indd 49

How Harwood builds camaraderie among its GMs and executive chefs.

Alexis BarbierMueller and his brother, fellow co-president Oliver Barbier-Mueller, are involved in design and other concept details, they leave most culinary aspects up to executive chefs.

With 10 existing venues in a portfolio that’s expected to double in size by the end of next year, they’ve assembled a talent force. And they make sure the leaders continued on page 050

One tenant said he’d love to have an honest-to-god sports bar—a place to get a burger and a beer. Alexis and Oliver targeted some land the company was warehousing on the western edge of the property. It had close proximity to American Airlines Center and plenty of nearby parking. They pitched the concept for Happiest Hour, which became the fir t project they led for their father.

“When he saw our idea for concrete floors, he literally turned around and walked out of the meeting, saying, ‘I don’t understand that,’” Alexis says with a smile.

The two-story, 12,000-square-foot venue has a huge outdoor seating area, a rooftop that overlooks the city, and plenty of Instagram-worthy settings. The brothers challenged a lot of restaurant development norms, including per-square-foot build costs. “Because we were not from hospitality, we would continue to ask why and apply logic,” Alexis says. “We have been able to apply what we’ve seen with the residential towers, the other restaurants, and offic towers. With that, you capture almost 24 hours of someone’s day.”

OCTOBER 2022

049

9/6/22 3:44 PM

have an opportunity to learn from one another. The brothers use an open-book management style, where the chefs and general managers see all numbers.

This allows them to look at what their peers are doing when it comes to food pricing, buying, hiring strategies, and more, Alexis says.

“Everyone works together to help build the Harwood platform, and there’s fun engagement between the different kitchens,” he says.

“It creates a sense of camaraderie, creativity, and, in some cases, healthy competition.” The team of chefs recently spent four days in San Diego, touring the region’s top restaurants and hotels. “They all came back home inspired,” Alexis says. “We really try to push and cultivate that.”

050

OCTOBER 2022

F_Restaurant_1022.indd 50

Happiest Hour opened on Texas-OU weekend in 2015. It was an immediate hit, with about 3,000 people coming through its doors. In 2019, the restaurant and bar attracted more than 1.2 million people. It brought a new vibe and crowd—millennials and Gen Z—to Harwood District. And, as one of the highest-grossing bars in the state, it brought in a whole lot of money.

A game-changer that far exceeded expectations, it led to a family discussion about getting into the restaurant business in a more formalized, institutional way, Alexis says. “We said, ‘This is something that’s great for the city, it’s great for buildings, our tenants are happy, it’s creating visibility, and we’re doing a good job,” he says.

“That’s when we decided to create a hospitality group as a fourth operating vertical. Oliver and I develop the concepts and manage the growth, and we’ve built a team that’s now approaching 800 employees.”

I N T E R N AT I O N AL INS PIRAT IO N Since Happiest Hour, six new restaurants have been added in the district. Coffee shop and café Magnolias: Sous Le Pont opened in 2015, as did The Grove at Harwood, which also provides an outdoor amenity for tenants and residents. The upscale Dolce Riviera, in which Gabriel took a special interest, opened in 2016. (It recently reopened after closing during the pandemic.)

Te Deseo, a Latin American restaurant that opened in 2019, is Harwood’s largest venue to date (14,000 square feet) and a concept that turns the wide-open Happiest Hour on its head, with closed-off dining rooms and four distinct bars.

The latest eateries, Harwood Arms and Elephant East, both of which opened last year, kicked off a new segment of Harwood District called La Rue Perdue (translated as “the lost street”). It’s a European-inspired, cobblestone

pathway that connects the Harwood No. 4 and No. 10 office buildings and arwood and McKinnon streets.

As the restaurant platform has accelerated, it has moved well beyond providing amenities. “We have around 40,000 people in the district now [residents and tenant employees] and about 40,000 people per week coming to the restaurants,” Oliver says. “It’s huge for us because we’re working to make sure that things are not closed to the district. We are trying to make it easy to get here.”

He and Alexis are disciples of a book called Happy City by Charles Montgomery, which promotes the concept of sparking happiness through urban design. “A big part of it is access points,” Oliver says. “So, we’re adding a new drop-off along McKinnon Street for Harwood No. 4, like the drop-off in front of Happiest Hour, to make it easier for people to get in and park and valet.

We’re also taking cars off Harwood Street to make it more pedestrian-friendly.”

While others took a pause during the pandemic, the Harwood team pushed forward. They have a distinct advantage; they control their own land and financing Harwood Arms, a London-style pub, is among the platform’s most activated venues, with programming hits like live-band karaoke, sports watching parties, and a fun “Wheel of Misfortune.” A Saint Patrick’s Day party closed Harwood Street and attracted more than 1,000 people. The success of the activations has led the Barbier-Muellers to recently hire a team to focus on events—festivals, music performances, and the like— throughout the district. Harwood Arms attracts a wildly diverse crowd, with CEOs stopping in for lunch, couples showing up for brunches and date nights, and college alumni for sports-watching parties. “We have been surprised by the clientele,” Oliver says. “It’s like an SMU bar on Saturday night.”

Elephant East sits within La Rue Perdue on McKinnon Street. Inspired by the family’s love of Asian fare, the design concept changed when the squad took a trip to Santa Fe and visited an antiques dealer. “He had this giant elephant out front, and we discovered he had warehouses full of stuff—walls and doors and arches from Pakistan, the Middle East, and Southeast Asia,” Oliver says. “We fl w back with our interior design team and did like an American Pickers thing. Everything was measured on site. The elephant got our immediate attention, so we said, ‘OK. Let’s bring the elephant here and get people’s attention.’”

As with all Harwood projects, Elephant East gets its inspiration from the family’s extensive international experiences. The idea for the red bamboo gardens that surround the elephant was taken from a chateau south of France. “It also bookends the red of Harwood Arms,” Alexis explains. “It’s a way to bring attention and energy and invite people into La Rue Perdue.”

DCEOMAGAZINE.COM

9/6/22 3:45 PM

P H OTO G R A P H Y BY D A N I E L D R I E N S K Y , J O N A T H A N Z I Z Z O , R O B E R T U N D E R W O O D , A N D C O U R T E S Y O F H A R W O O D I N T E R N A T I O N A L

Chefs and GMs can compare notes due to Harwood’s openbook strategy.

O P E N E R BY M E M S T U D I O

continued from page 049

P H OTO G R A P H Y BY D A N I E L D R I E N S K Y , J O N A T H A N Z I Z Z O , R O B E R T U N D E R W O O D , A N D C O U R T E S Y O F H A R W O O D I N T E R N A T I O N A L

O P E N E R BY M E M S T U D I O

Marie Gabrielle’s stunning gardens have helped make it a popular wedding venue in Dallas.

The intimate Harwood Arms, which opened in 2021, takes its inspiration from pubs in London.

Mercat Bistro is known for its French pastries and specialties like Croque Monsieur.

The Magnolias: Sous Le Pont coffee shop and café also sells unique gifts and quirky cards.

D O UBL I N G I N S I Z E Over the next 15 months, Harwood Hospitality Group will go from 10 to 20 concepts. Up fir t is a pizza and martini joint called Poco Fiasco, set to make its debut this fall. It will include an oversized bar and a walk-up counter where people can grab a slice and go. It will be followed next spring by a large cantina with access to the Katy Trail opening on the northern end of the district. Two concepts will be added to Harwood’s latest offic building, No. 14, and several will be housed within a new 22-story hotel that’s opening in 2023. The Barbier-Muellers describe it as “taking a New York city block and inverting it on its Y axis.”

Harwood also is getting into the retail game. A small marketplace within La Rue Perdue will offer gelato, sandwiches, and snacks. Patrons can also purchase wine by the bottle, coffee grounds, and sauces from Harwood restaurants such as Dolce Riviera. “It will be like a mini Harwood pantry,” Alexis says.

Having a vast number of venues within one neighborhood allows the company to take advantage of economies of scale. It also provides in-house learning and growth opportunities for employees; it’s not unusual for chefs, servers, and even corporate workers to pursue their interests and shift to new roles and brands.

This has helped give Harwood an edge in retaining and attracting employees, including top chefs. “The Dallas market is extremely competitive, and there has been a flight of talent to Dallas on the culinary side,” Oliver says. “We’ve gotten a whole lot of chefs from New York, Chicago, Las Vegas, and California. It has allowed us to elevate our standards and expectations—because we have to. Dallas’ tastes and preferences and level of sophistication on the culinary side is skyrocketing.”

Employees also like the security Harwood can offe , with its many venues and built-in tenant and resident base, especially in an industry that’s not especially known for longevity. Alexis says he and his family are in it for keeps. “Our business plan is a generational one,” he says. “We’ll be in the restaurant and hospitality business for decades and generations to come, just like we will be in development and construction and asset management and capital markets. That helps us when people are looking for consistency. It’s stability. They know we are going to be here.”

DCEOMAGAZINE.COM

F_Restaurant_1022.indd 51

A VARIETY OF TASTES AND VENUES From coffee shops to fine dining, Harwood District is home to 10 restaurants. That number is expected to double in 2023.

1997 Marie Gabrielle Restaurant and Gardens. Surrounded by a lush, 1.5-acre greenspace and tree allee, it serves breakfast and lunch and does a bustling wedding and events business.

2010

2013

2016

Mercat Bistro. A contemporary coffee shop and restaurant, it’s known for pastries and French specialties. It serves breakfast, lunch, and dinner, and has a popular weekend brunch.

Dolce Riviera. Inspired by the Italian Riviera, this popular fine dining restaurant has been drawing crowds since recently reopening, after shuttering during the pandemic for an overhaul.

2015

2019

Happiest Hour. This two-story venue was a game-changer in the district’s nightlife scene. It offers rooftop views, outdoor seating, and a signature dish: the Nacho Tower.

Te Deseo. The chic Latin American eatery features a series of unique dining rooms, four bars, and a rooftop that overlooks the city.

At 14,000 square feet, it’s Harwood’s largest concept to date.

2015

2021

Magnolias: Sous Le Pont. A quaint gathering place that serves craft coffees and breakfast and lunch fare, it has become a popular spot for those who want to work remotely.

Harwood Arms. This London-style pub attracts everyone from Gen Z to Fortune 100 CEOs. Its programming includes live-band karaoke, trivia night, and soccer and football watch parties.

2015

2021

The Grove at Harwood. A dog-friendly outdoor space billed as the “ultimate backyard,” it features snacks and cocktails, picnic tables and hammocks, and volleyball and bocce ball courts.

Elephant East. A panAsian restaurant and lounge inspired by culture and cuisine from Bangkok to Bali, its stunning décor is anchored by antique wood carvings, columns, and doors.

Saint Ann Restaurant & Bar. Preserved and converted from a 1927 schoolhouse, it serves New American dishes and features expansive patio shaded by a tree canopy.

MARCH 2022

051

9/6/22 2:00 PM

N E X T- G E N R E S TA U R AT E U R S

El Vecino founder John McBride has learned from three generations of restaurateurs, but the legacy may end with him.

OH N McB RIDE COU LDN ’T OUTRU N

John McBride’s grandmother, Irene Martinez Garcia, ran the El Fenix at NorthPark.

McBride once toyed with the idea of pursuing journalism, before returning to restaurants.

When the family decided to sell El Fenix, McBride (in plaid jacket) helped put the deal together.

052

his roots. The fourth-generation leader descends from El Fenix founder Miguel Martinez, but as a young adult, he wanted to be a journalist.

“That pen sitting next to that blank piece of paper; it was so stressful, and I just couldn’t do it,” he says. The founder of El Vecino, a Tex-Mex restaurant near White Rock, eventually married and moved to New York. There, he ran his fir t eatery, drawing on years of watching his grandmother, Irene Martinez Garcia, lead of marketing for Dallas’ oldest Tex-Mex chain. “She was ahead of her time,” McBride says.

Martinez Garcia oversaw El Fenix’s NorthPark location in the 1960s. McBride remembers spending the night at her home, where she would rise early and grab the newspaper and El Fenix stationery. She would scan the paper for clips announcing promotions, nuptials, and relocations and write people congratulator letters signed, “The Martinez Family.”

“It was primitive marketing back then,” McBride says. “Years later, when I was working in the stores, people would hear from the waiter or the manager that I was Irene’s grandson, and they’d say, ‘The next time we come, we are going to bring you the letter that your grandmother wrote us years ago.’” He also watched his father, a third-generation restaurateur, rise at 5 a.m. to work in El Fenix’s food prep warehouse. “You learn early on that it is a full-time job,” McBride says. “So, I wasn’t blind going into it.”

After El Fenix, he worked for Andrews Restaurants, the group behind Chelsea’s Corner in Uptown, and realized his true calling. He always dreamed of opening a Tex-Mex restaurant in New York City, so a few years later, he and his wife sold their cars and made the jump.

He started as a nightshift manager at an American

restaurant, where he met a 19-year-old chef from Guerrero, Mexico, Charley Cid, who became his career-long business partner (see sidebar). The duo’s fir t concept was a Tex-Mex joint called Enchilada Johnny’s. “I was the second-biggest user of Velveeta cheese in New York City in 1993,” McBride says with a laugh. He also sold a lot of Dr Pepper, drawing a large Texan following.

He opened a second Tex-Mex concept in 1997, before returning to Dallas in 2004. By then, El Fenix had grown to 15 locations, and his relatives were looking to sell. McBride interviewed 16 suitors and found a match in Mike Karns of Firebird Restaurant Group, in 2008.

“It was time,” McBride says. He signed a five-year noncompete but knew he would one day return to Tex-Mex. When his noncompete expired, McBride opened El Vecino in 2017, blending what he calls “comfortable Mexican” décor with affordable prices and a solid menu. “Those are the things that you can do, and then you’ve got to cross your fin ers,” he says. “You can take this same concept, and you could put it on Travis and Knox, or you could put it in Frisco, and it might not work, but it works really well here.”

McBride found out the hard way. He opened an El Vecino on Travis and Knox in 2018, but it did not resonate with neighborhood customers and eventually shuttered. “The hardest thing is to either sell a restaurant or to walk out on a restaurant, because you believe, and you put all your money into it,” he says. He knows he has a good thing going at his remaining restaurant, and says it will be his last. Although he loves the business, it’s not easy. McBride says he doesn’t want the industry challenges and lack of work-life balance for his two daughters, so the El Fenix family legacy likely will end with him. “There’s a lot of personal sacrifice you have to make if you live the restaurant industry,” he says.

P H OTO G R A P H Y C O U R T E S Y O F J O H N M C B R I D E

The Last of the El Fenix Line

OCTOBER 2022

F_Restaurant_1022.indd 52

9/6/22 2:00 PM

A collaboration that began in NYC and has spanned decades.

P H OTO G R A P H Y C O U R T E S Y O F J O H N M C B R I D E

In a perfect Tex-Mex match, John McBride (second from right, above with his family) met his head chef, Charley Cid, when they both worked at a fine-dining estaurant in New York City. “It didn’t take me long to say, ‘If I ever get my Mexican restaurant off the ground, this is the guy I’m going to take with me,” McBride says. The duo opened two concepts together in New York and three in Dallas. Hard times and a fie ce work ethic have cemented the partnership. “The bottom line is we are both workers,” McBride says. “We have a lot of war stories—when people hadn’t shown up for work, when we’ve had to handle opening up on New Year’s Day because all our cooks were still drunk, when we were 10 times busier than we thought we would be, and he had to go to the front to help or I had to go to the back to help.”

DCEOMAGAZINE.COM

F_Restaurant_1022.indd 53

OCTOBER 2022

053

9/6/22 7:05 PM

T E

C O U

O

A

N S

R

L

C O R P

E AWA R D

S

2 2 20 story by

WILL MADDOX

F_CorporateCounsel_1022.indd 54

9/6/22 2:02 PM

As guidelines become policy, in-house attorneys are grappling with the uncharted waters of ESG. photography by

THE VOORHES

W

W H E N I T C O M E S T O E N V I R O N M E N TA L , S O C I A L , A N D G OV -

ernance efforts, paying close attention is nothing new for most corporations. Investors, customers, and society have long expected companies to be mindful of sustainability, treat employees fairly, and diversify leadership. But in the last couple of years, ESG issues have risen to the top of the priority list for corporations. That’s because many of the policies that used to be internal initiatives are becoming requirements, with the U.S. Securities and Exchange Commission enforcing rules and issuing consequences. And who is largely responsible for meeting those ESG requirements? That obligation falls to a company’s in-house attorneys (Note: for a list of the winners in D CEO’s 2022 Corporate Counsel Awards, see pg. 57.)

Businesses watched the ESG writing on the wall turn into policy as investors demanded more than just profits. For many years, these policies were enforced internally. Many companies have been guided by the Sustainability Accounting Standards Board, a nonprofit organization that created a framework for the standardized reporting of sustainability efforts. SASB’s mission is to establish disclosure standards for specific industries across sev-

OCTOBER 2022

F_CorporateCounsel_1022.indd 55

055

9/6/22 2:02 PM

talent, prioritizing the legal team’s time, or hiring outside consultants.

AS K The public, investors, and the government will demand answers about the organization’s progress, so it would be helpful for C-Suiters to set realistic internal goals for their legal teams.

056

OCTOBER 2022

F_CorporateCounsel_1022.indd 56

DEALING WITH MANY UNKNOWNS Investor and social pressure are mounting, but many ESG measures are being codified. So, what, exactly, is changing?

Last year, the SEC made amendments to its financial reporting requirements, expanding disclosure around human capital management and DEI in corporate annual reports.

President Joe Biden added executive orders focused on similar efforts. The SEC has also recently added rules about talent disclosures and corporate board diversity.

The rules ask companies to describe human capital management resources, measures, or objectives the company focuses on when running the business. There is only one issue: the rule didn’t define “human capital,” giving broad discretion to organizations to decide which objectives to disclose.

Additionally, there are indications from the SEC that it is about to step up its requirements for companies to disclose more information about the diversity of their board and how members are chosen. For example, board diversity stats may soon be required in corporate proxy statements.

Earlier this year, the SEC released a 500-page proposed rule requiring corporations to disclose greenhouse gas emissions. Many companies have already been sharing this data voluntarily, as scientists say the window for the world to do something about the catastrophic effects of climate change is closing.

But for large companies that are said to be responsible for as much as 40 percent of the world’s emissions, it isn’t clear precisely what needs to be reported. Some have speculated that everything from greenhouse gasses from a smokestack to the emissions caused by customers driving to a retail location could need to be measured.

Corporate counsels are faced with organizing their company’s efforts around these new reporting rules, and many unknowns still exist. “It has been a learning process. Things have changed over the last 20 years, and ESG issues have grown from an emergent topic to an area of central focus,” Roth says. “There’s trial and error, but we’ve learned a lot, and we’re making a tremendous difference.”

COMMITMENT FROM THE C-SUITE When it comes to deepening and accelerating ESG efforts, companies must first clearly define their goals and figure out what needs to be measured. “It’s an interesting challenge,” says Yuki Whitmire, Irving-based Vistra Corp.’s vice president and associate general counsel. “What’s our ultimate objective? How do we figure out what we should be focusing on? How do we figure out how to report all this?”

The amount of resources required for these efforts is bound to increase, providing an additional challenge for in-house lawyers already saddled with numerous responsibilities. “Whenever you go from a voluntary to a mandatory regime, there’s going to be increased costs,” says Elisha Kobre, a Dallas partner in the national law firm Bradley who specializes in government enforcement, investigations, and litigation. “A lot of companies put out climate-related data voluntarily, but now that it’s required under the SEC rules, companies are going to have to be much more cautious to make sure that information is accurate,” Kobre says.

In-house attorneys know they can’t do it alone. “We have to be constantly vigilant and dedicate technology, resources, and know-how to create trust, learn about risks transparently in the organization, and have an ethical approach to business conduct,” says Jayne Rothman, chief legal officer at Integrity Marketing Group. “And we need commitment from the C-Suite to support those practices.”

ICON: S H U T T E R S T O C K

eral ESG topics. The reliable standards allow investors to compare companies on a global basis.

The SASB was consolidated into the International Sustainability Standards Board last year. In-house attorneys have been using standards like those set by SASB for years in preparation for what is happening now. Without precedent, federal regulators are codifying ESG, and it is the company’s job to figure out how to measure, report, and comply.

At the same time, COVID-19 has impacted how investors evaluate companies with regard to how they treat and protect employees and allow for remote work. The Black Lives Matter movement has also brought DEI and racial Three ways justice issues to the forefront.

CEOs and other Environmental justice and climate change C-Suiters can have also gained importance due to investor get behind their pressure. At the country’s largest energy comcorporate pany, ExxonMobil, an activist investor group counsels to improve ESG got two members named to the board of direcoutlook: tors to get it to take climate change more seriously. Exxon’s CEO Darren Woods campaigned against the board changes, but the activist group J OI N prevailed in pushing for significant additions.

Leaders can set the Different industries face unique challenges. tone by prioritizing ESG efforts, providing Energy companies will be under greater public support for the legal scrutiny regarding environmental impact, while team, and leaning a healthcare system may be under more pressure into what is being to make a social impact on the community. asked for by investors For an organization like Parkland Health, or required by the government. which is publicly funded, there is even more scrutiny. That pressure has led the organization to be on the leading edge of ESG efforts. In EQU I P addition to environmentally friendly buildings, With increased diverse board leadership, and offering employgovernment regulation, corporate ees a living minimum wage, Chief Legal Officer counsels need time Steven Roth says Parkland is looking at how and resources to its hiring practices can impact disadvantaged ensure their company neighborhoods. “We focus on hiring from some is prepared for of those distressed ZIP codes to better the lives changes. This could mean attracting more of individuals in those areas,” he says.’

DCEOMAGAZINE.COM

9/6/22 7:06 PM

FIGURING OUT THE STORY TO TELL The new SEC rules are expected to be adopted by most public companies this October, Whitmire says, and they become effective next fiscal year to be reported in the 2024 annual report. But the details of those 500 pages are still unclear for many corporate counsels, and plenty of ambiguity remains. Organizations that have been working toward improving their ESG policies for years are in the best position to meet the new standards.

Most public companies are on board with increasing their focus on ESG efforts, but the changes are not based on altruism alone. There are economic benefits when corporate legal teams help craft strong ESG initiatives. Better sustainability measures attract new customers and gain access to government resources. Lower energy and water consumption reduce costs, and government subsidies can also increase profits. When workers know their employer is taking time to consider their impact on society and the environment, they are more motivated and loyal, and these issues are also drivers for recruiting talent.

For global companies that do business in many different countries, navigating the web of trade regulations will be an ongoing challenge, says Steven Dietz, senior vice president, general counsel, and secretary at Siemens Digital Industries Software. “Various political agendas, trade objectives, and national security concerns are manifesting themselves in a global economy, making it more difficult for companies to align to various regional or country-specific controls,” he says.

Improved ESG efforts also connect companies to new investors and capital sources. Bloomberg reports that sustainable invest-

“ESG issues have GROWN from an emergent topic to an area of CENTRAL FOCUS. There’s trial and error, but we’ve LEARNED A LOT, and we’re making a TREMENDOUS DIFFERENCE.”

ICON: S H U T T E R S T O C K

S teve n R o th , C h i e f L e g a l O f f i c e r PAR K L AN D H E ALTH

ment will top $50 trillion by 2025, a huge jump from $35 trillion in 2020. Increasing investor and government scrutiny are giving authority to corporate counsels’ efforts to navigate the ESG waters and assemble a comprehensive plan, but it also puts their work under a microscope that wasn’t present in the past. “It is closely linked to investor relations and trying to figure out the story we want to tell and how we tell it,” says Whitmire.

If companies want to be prepared for the changes that are already here and those on the way, in-house attorneys must push the envelope to keep up with the expectations of the public, investors, and the government. “Serving in this way draws upon our time-tested skills: legal skills, empathetically listening, and extensive knowledge of legal and regulatory constraints,” Roth says.

“We are the calm in the midst of chaos.”

DCEOMAGAZINE.COM

F_CorporateCounsel_1022.indd 57

CORPORATE COUNSEL AWARDS WINNERS AND FINALISTS

G E NE R AL COU NSE L | L ARG E Steven Dietz, Siemens Digital Industries Software G E NE R AL COU NSE L | MIDSIZE Steven Roth, Parkland Health Jacqueline Allen, FirstCash G E NE R AL COU NSE L | SMALL Jayne Rothman, Integrity Marketing Group Justin Ferguson, DZS Matthew Frizzo, Stream Realty Partners Jenifer Grace, LaCore Enterprises Bill Mahomes, Vista Bank Meg Shockley, City Electric Supply Justin Tilley, U.S. Dermatology Partners G E NE R AL COU NSE L | SOLO Angela Lilly, Glazer’s Beer and Beverage Travis Foster, Work Shield Kelli L. Roach, Black Mountain Sand DE PUT Y G E NE R AL COU NSE L O R A S S O C I AT E G E N E R A L C O U N S E L Samuel Siegel, Vistra Corp.

James Balfour, Parkland Health James Bristow, EnLink Midstream Pamela Tronzano, U.S. Dermatology Partners IN - HOUSE COU NSE L Charles Boehler, PepsiCo Casey Moore, Vistra Corp.

Colleen Higgins Schultz, Texas Instruments Jeremy Spiegel, CapForm Justin Wheeler, Cinemark CHAMPION OF DIVERSIT Y Ashley Yen, Methodist Health System Daryl Dorsey, American Airlines COM M U NIT Y SE RVICE Yuki Whitmire, Vistra Corp.

U P AND COME R Savannah Franklin, Pizza Hut Stephanie Culpepper, Lument Samuel Kitchens, Match Group Nick Stadler, Evolon Technology Clinton Willett, City Electric Supply

OCTOBER 2022

057

9/6/22 2:03 PM

Content + Consulting We create content that creates change.

Whether you want to build brand affinity, improve employee engagement, or accelerate sales, we create content that moves your audience. Our strategists, editors, writers, designers, digital mavens, and developers work as a natural extension of your team, ensuring that everything we create drives results for your business.

SELECT CLIENTS

C H R I S . P H E L P S @ D C U S TO M .C O M | ( 2 1 4) 8 5 0 - 4 4 6 4 | D C U S TO M .C O M/D C E O

THOUGHT LEADERSHIP

D CEO - D Custom full page ad 083022.indd 1

|

EMPLOYEE ENGAGEMENT

|

SALES ACCELER ATION

8/31/22 8:58 PM

OCTOBER 2022

FIELD NOTES

N O R T H T E X A S B U S I N E S S A D V I C E , A N A LY S I S ,

a n d

C O M M E N TA R Y

LESSON LEARNED

Building Individual and Organizational Leadership Kenneth Novice, President and CEO B R OA D WAY DA L L A S

PHOTOG R APHY BY AU DSH U LE

“i ’ m a fan of coach john wooden of the ucla bruins and coach pete carroll of the USC Trojans and Seattle Seahawks and have studied their books. I took time to digest their philosophies on leadership and blended it with my knowledge and experiences.

I’ve come to believe that the best workplaces are those where folks can learn, build their own philosophy of leadership, create their own definition of success, and then apply it. At Broadway Dallas, we schedule time for everybody to teach the rest of us about what they do, how they build their department’s teams, and how they define success. These sessions are masterclasses on how to run a not-for-profit organization taught by our own experts. It’s important to build a culture of individual and organizational leadership, creating opportunities for others to lead. It becomes a culture that allows the freedom to fail, the mandate to learn, the opportunity to teach, and the application of all skills.” —As told to Ben Swanger

DCEOMAGAZINE.COM

FN_LeadingOff_1022.indd 59

OCTOBER 2022

059

8/25/22 4:10 PM

FIELD NOTES

ECONOMY

The Texas Model Wrestles With New Challenges For the rest of the decade and beyond, growth in the state may not come as easily as it once did.

AND

RICHARD ALM

T

texas went into the covid-19 crisis a leader among states in economic growth and job creation. The latest data say the state’s coming out of the pandemic the same way. Over the past 12 months, for example, it ranked second to California in adding jobs and second to Nevada in percent gain in employment.

Nothing unusual in that. The Texas economy has been sprinting ahead for decades—ever since it bounced back from the oil-price shock of the mid-1980s. The state’s political and business elites and many analysts (us included) credit the state’s sustained prosperity to the Texas model of lower taxes, smaller government, and economic freedom. The approach works because it gives markets and the private sector more room to operate. Texas offers fertile ground for entrepreneurs to start businesses—and sometimes fail. It’s a place where companies are more free to

060

OCTOBER 2022

FN_Economy_1022.indd 60

P H OTO G R A P H Y BY J E R E M Y P A W L O W S K I

story by W. MICHAEL COX

DCEOMAGAZINE.COM

9/1/22 3:41 PM

FIELD NOTES

innovate and pivot—and sometimes go belly-up.

Texas gives workers a chance to find jobs—and sometimes lose them.

Critics are always taking potshots at the Texas model, but it delivers results and draws crowds.

Thousands of out-of-state companies chose the state as the place to grow their businesses. Millions of people came, too, attracted by Texas’ low cost of living and employment opportunities. The state’s economy looks rosy right now, with growing employment despite the pandemic and the worst inflation in 40 years. The threats to the Texas model are longer-term and, to a degree, speculative. They center on three broad areas: cost of living, labor supply, and the external environment.

P H OTO G R A P H Y BY J E R E M Y P A W L O W S K I

COMPARATI V E COST OF L I V I N G

The nation slogged through two housing bubbles in this century. In the mid-2000s, housing prices rose more slowly in Dallas-Fort Worth and Houston than in most other large metropolitan areas—by a wide margin (see sidebar). Another housing-price spike came in 2022. According to the Freddie Mac House Price Index, North Texas dwellings now cost 51 percent more than they did just 30 months ago. Houston housing prices are up 36 percent.

Texas homes are still a lot cheaper than in many other states, but housing price increases are now on par with other top-10 metros. DFW ranked fourth behind Phoenix, Miami, and Atlanta—and ahead of Los Angeles. Houston was right behind Los Angeles in appreciation.

Texans are spending more on apartment rents, and winter storms and summer heat have made for shockingly high electricity bills.

Prices for homes, apartments, and electricity reflect local supply and demand. At some point, these expenses may begin to erode the cost-ofliving edge that gave companies and workers strong incentives to relocate to Texas.

P OLITICS AN D L A BOR SU P P LY

From 2012 to 2019, Texas’ labor force grew by more than 175,000 people a year. In the economic tumult of the past two-and-a-half years, the annual pace was even higher at 232,000, helping fuel the demand that pushed up housing prices.

Some new entrants were native Texans, of course, but it’s noteworthy that California’s labor force

DCEOMAGAZINE.COM

FN_Economy_1022.indd 61

shrank at an annual pace of more than 72,500 since January 2020 and New York’s by 170,000.

So, why worry? We’ve already pointed to one reason—a potential spike in the cost of living. A second concern centers on politics. Many times, winning elections and setting legislative priorities are not decided on economic issues but on social concerns. Hot-button issues of the day include transgender and abortion rights, gun and religious rights, and immigration. Many Texans favor one side; many Texans favor the other.

Most companies wish to avoid being dragged into America’s divisive culture wars. They can’t win. They fear repercussions. A particular concern is whether the political climate will sour workers on Texas, especially the highly skilled, highly mobile tech contingent in demand across the country. Maintaining past growth rates could require Texas to expand its labor force by 175,000 to 225,000 workers every year. If the cost of living keeps rising and political repugnance sets in, that could be a tall order.

E X TE R N A L E N V I R O N M E N T

A lot went Texas’ way over the past three decades.

Trade flourished, and Texans became America’s top exporters. Mexico opened its economy, and we led the charge south. Immigrants arrived, and the state had jobs for them. Energy boomed, and Texans hit a gusher.

Going forward, that’s not likely to be the world we’ll be living in. Higher shipping costs, supply chain bugaboos, and trade barriers pose obstacles to imports and exports. Mexico has turned inward under President Andres Manuel Lopez Obrador.

Immigrants face hostility in Texas and elsewhere.

The oil and gas business, booming now, faces global challenges from climate change policies.

For the rest of the decade and beyond, the state may find that growth won’t come as easily as it once did—unless private businesses once again reinvent the state’s economy to adjust to new realities and seize new profit opportunities. That’s what the Texas model does best.

R E S I D E N T I A L S TAT S

A Tale of Two Housing Bubbles According to the Freddie Mac House Price Index, prices soared in most large urban areas in mid-2000s, but DFW and Houston saw little appreciation. In 2022, however, the two Texas metros were among the large urban areas with the biggest housing price increases. Index data showed DFW coming in No. 4 nationally and Houston coming in No. 6. That being said, there are some signs of market stabilization; in August, the Dallas Fed reported that the Texas housing market is showing signs of slowing, with the months-of-supply of homes across state metros higher in June 2022 when compared to the previous year, and salesprice increases plateauing or dropping.

W. Michael Cox is professor of economics in the Bridwell Institute for Economic Freedom at Southern Methodist University’s Cox School of Business. Richard Alm is writer-in-residence at the Bridwell Institute.

OCTOBER 2022

061

9/1/22 3:41 PM

FIELD NOTES

ON TOPIC

What was your fi st job, and what did you learn from it? edited by BEN SWANGER

062

illustrations by JAKE MEYERS

DOUG MOORE

TIFFANY WOODSON

MARK DANUSER

Head of Americas Region and CEO FUJITSU NORTH AMERICA

Managing Partner INK + ORO

Owner TAT U M B R O W N C U S T O M H O M E S

“I was a Stuckey’s attendant on Interstate 40 outside of Albuquerque. I learned to be fl xible; I pumped gas, cleaned the bathrooms, and flipped bur ers. I even had the honor of making the cans of ‘rattlesnake milk’ that were sold as souvenirs. We would get cans of condensed milk, remove the labels, and—oops—I should say no more! Who knows what type of trademark violations ensued?

Fortunately, I was just a 15-yearold-kid doing as I was instructed.”

“I earned my fir t paycheck when I was 16 at an American Eagle store.

My job taught me to serve others and to have humility. I also learned the financial ycle; my paycheck just covered my car and gas. This left no money for spending or fun, which meant I needed more. I took a second job as a nanny. My weekends were no longer mine, but my bank account was growing.

Understanding the rewards of making sacrifices as a teen was th best lesson I could have learned.”

“I had a newspaper route when I was 12. I remember barely being able to keep my bike upright, as I weighed about 90 pounds soaking wet. I learned that discipline and hard work are essential to success.

I had to get up early and roll papers before distributing, rain or shine. Manual labor at that age is eye-opening. My second job was alphabetizing books for Missouri Book Services. My aisle was S, so whenever Shakespeare comes up in Trivial Pursuit, I have the answer.”

OCTOBER 2022

FN_OnTopic_1022.indd 62

DCEOMAGAZINE.COM

8/26/22 11:37 AM

THE SECRET INGREDIENT FOR CURATING DELICIOUS MEMORIES Let Our Team Create The Perfect Culinary Journey For Your Next Event

@WPCatering #NeverStopCelebrating Scan For More wolfgangpuckcatering .com 214.974.9598 dallasevents@wolfgangpuck.com

Perot/Wolfgang_1022.indd 1

8/31/22 9:04 PM

FIELD NOTES

THOUGHT LEADER

Preparing Your Company for Life Without You

at a certain age or when the company hits a fina cial milestone? Solidifying these answers will provide a foundation for success.

Private wealth management exec Kyle Wick offers three consideration for starting the succession planning process.

IMAGE COU RTESY OF 22 ONE ADVISORS

M

2.

1.

SET YOUR GOALS AND TIMELINE. Whether an owner will rely on proceeds from the sale of their business to cover their retirement, or plan to reinvest funds into a new enterprise, it is essential to determine their financial goals an craft a timeline to begin a succession plan. Do they plan to leave the business

ost business owners are incredibly resilient and adaptable individuals. They’ve dedicated a significant portion of their lives to building an organization that supports not only their loved ones but also their employees, vendors, customers, and, occasionally, even their communities. Yet, for many, it is hard to envision a time when they won’t be at the helm, and owners are often unsure how to begin a plan to transition out of their businesses. A recent PwC survey found that just 34 percent of family business owners have a robust, documented, and communicated succession plan. Whether a business owner is several years or decades away from a succession, they need to begin planning that transition now to ensure the viability and continuity of their company, protecting their investment and all those who rely on it. Whether an owner has created a company from scratch or led it to new heights, building a carefully considered succession plan is one of the most important things they can do for their business. Here are three key elements to consider when beginning the process:

064

OCTOBER 2022

FN_ThoughtLeader_Rodgers_1022.indd 64

DETERMINE A SUCCESSOR. Figuring out who will take over the business will inform how the transition needs to be managed.

Often, the most straightforward succession situations involve shifting ownership to an existing partner or employee. In this case, a direct approach is to create a buy-sell agreement that lays out the timeline and process for transfer and the agreed-upon price. Occasionally, business owners do not have a specifi successor in mind, which can happen if a family member is uninterested or unprepared or if there are no clear employee candidates. Experienced advisers can help facilitate introductions to potential buyers, as well as bankers, accountants, valuation specialists, attorneys, tax specialists, and more.

3.

ESTABLISH THE COMPANY’S VALUATION. Developing an accurate business valuation is essential to allow a successor to know what they’ll need to eventually pay to purchase the business. However, asking owners to put a price tag on something they’ve dedicated their lives to is not always the easiest task.

Although there are other methods to consider, the three most used valuation methods are asset-based, market-based, and cash fl w-based valuations.

Kyle Wick is co-founder of Dallas-based 22 One Advisors.

DCEOMAGAZINE.COM

8/26/22 11:39 AM

Steptoe & Johnson PLLC is a U.S. law firm with core strengths in

Business | Energy | Labor & Employment | Litigation with 18 offices across 7 states For more information visit: steptoe-johnson.com

COLORADO | KENTUCKY | OHIO | OKLAHOMA | PENNSYLVANIA | TEXAS | WEST VIRGINIA

500 North Akard Street, Suite 3200, Dallas, Texas 75201 THIS IS AN ADVERTISEMENT

_StackedPartials.indd 1

9/6/22 12:43 PM

Ashley is another reason why so many people Trust Methodist.

Congratulations to Ashley Yen on being on being selected as a finalist for the D CEO Corporate Counsel Awards.

Ashley Yen

AVP Associate In-House Counsel

Methodist Family Health Centers and Medical Groups are owned and operated by MedHealth/Methodist Medical Group and are staffed by independently practicing physicians who are employees of MedHealth/Methodist Medical Group. The physicians and staff who provide services at these sites are not employees or agents of Methodist Health System or any of its affliated hospitals.

2022 CORPORATE COUNSEL AWARD FINALIST

Congratulations

Siemens Digital Industries Software congratulates Steve Dietz on being recognized as one of the Dallas area’s Outstanding General Counsel, Large Legal Team.

We acknowledge the outstanding legal support provided by the team of dedicated professionals in Steve’s team who have played a significant role in our company’s growth. www.siemens.com

_StackedPartials.indd 2

9/6/22 12:44 PM

OCTOBER 2022

OFF DUTY THE PERSONAL SIDE

o f

DFW BUSINESS LEADERS

ART OF STYLE

P H OTO G R A P H Y BY T H O M A S G A R Z A

FLETCHER’S ORIGINAL CORNY DOGS CEO AARON FLETCHER’S STYLE IS CLASSIC WITH A TWIST.

DCEOMAGAZINE.COM

OD_Style_GreaterGood_1022.indd 67

OCTOBER 2022

067

8/30/22 7:04 AM

OFF DUTY

WHAT I DO: “This year our family company is celebrating its 80th anniversary. As CEO, my main responsibilities consist of strategic planning, partnerships, and generally keeping things on track so we can continue providing corny dogs to future generations of fans.”

STYLE ICONS: “David Gandy is a personal style hero of mine. I also admire Steve McQueen, Paul Newman, and Miles Davis.”

AT WORK: “You’ll always find m in the same uniform as our employees: black polo, black shorts, and red hat. (Oil doesn’t show much on black.)”

FASHION INSPIRATION: “I’ve always had a deep interest in art, film, an interior design. Lately I’m inspired by New York, Jazz music, and Pitti Immagine Uomo in Italy. I also recently read a book called Black Ivy: A Revolt in Style, which swayed a lot of my current closet.”

STYLE DEFINED: “Classic. You won’t find me trying to follow trends too much, except wide leg pants; I am all in on that.”

FASHION ESSENTIALS: “My glasses, a ’47 clean up baseball cap, and Checkerboard Vans.”

HOW I ACCESSORIZE: “I have a watch my dad left me that I love. It’s very over the top, much like he was, and completely out of character for me but goes with everything. Other than that, I have some rings I alternate, a bracelet, and occasionally a necklace. And always a hat.”

G R E AT E R G O O D

Finding Solutions to Challenges Samco President Joe Mannes creates challenging puzzles for ChildCareGroup’s fundraiser.

each year, president of samco capital Markets Joe Mannes creates group puzzles for The Great Adventure Hunt. It’s a fundraiser for ChildCareGroup, a nonprofit led by Mannes’ wife, Tori. “It’s not like a crossword,” Mannes explains.

“You’re running around and there are things that you look at, manipulate, smell, see, and hear.”

He spends time leading up to the event with a group of peers, developing nontraditional puzzles that incorporate all senses. At the event, partici-

pants have 90 minutes to solve eight to 10 puzzles in six-person teams. The answers are always numbers, and a theme ties the different puzzles together. Ideally, Mannes says, each challenge (which are known for being creative and difficult) requires the entire team to solve it. “You have to make sure there is only one good answer,” he says. “It does require some exactitude. You have to make sure that it is unstructured in nature, but the answer has to be something that’s very clear and very specific.”

Mannes has been solving riddle-type puzzles for roughly 30 years and creating them for six or seven years. The concept is modeled after city-wide puzzle events in Miami and Washington D.C. Eventually, Mannes brought The Great Adventure Hunt to ChildCareGroup in Dallas, with the first event for the nonprofit taking place 10 years ago. “We took the mantle and ran with it,” he says. Inspiration, he adds, comes from any number of places—from new items he sees on sale at Amazon to movies, nature, and more. “You name it, we have used it,” he says.

In 2022, ChildCareGroup’s event had 300 people wracking their brains to solve Mannes’ puzzles at The Statler hotel in Dallas. The annual theme was “fun and games,” and intriguing puzzle elements included observing two bowlers as they played, puzzles themed for classic board games such as Scrabble, Battleship, and Mastermind, and an opening puzzle inspired by the hit gameshow Jeopardy. “This is a charitable event that’s not like others, and not everybody loves it,” Mannes says.

“But for the people who enjoy this kind of thing, it’s their jam.”—Suzanne Crow

GAME ON

The theme for the puzzles Mannes created in 2022 was “fun and games.”

WEEKEND LOOK: “I’m probably the opposite of most people, I dress up on the weekends because that’s my time to be around people and go to dinner with my girlfriend. So, while my week is usually pretty relaxed, I’m really putting in effort on the weekend.”

068

OCTOBER 2022

OD_Style_GreaterGood_1022.indd 2

M A N N E S : J A K E M E Y E R S ; P H OTO G R A P H Y C O U R T E S Y O F A L I S O N P A I G E P H O T O G R A P H Y

continued from page 067

DCEOMAGAZINE.COM

8/30/22 7:05 AM

Investing in People for an Equitable Future At Yum! Brands, we’ve spent nearly 25 years building a world-class, people-first culture. As part of this journey, we are investing $100 million to fight inequality for our employees, front-line restaurant teams and communities around the world. Our Unlocking Opportunity Initiative focuses on three key areas to help people achieve their brightest future: equity and inclusion, education and entrepreneurship. We believe we are uniquely positioned to positively impact lives for generations to come through our long-term commitment to unlock opportunity.

Learn more at yum.com.

congratulates

KELLI L. ROACH

for being named a finalist in the 2022 D CEO Corporate Counsel Awards

˜°˛ ckmountainsand.˝ˇˆ

_StackedPartials.indd 3

9/6/22 12:44 PM

OFF DUTY

We asked area CEOs which two local business leaders they’d most like to have dinner with.

Here’s who they chose—and why.

“As a big-time Dallas Cowboys fan (yes, America’s Team), I must include Charlotte Jones, the team’s fantastic chief brand officer.

I’d also love to invite Anne Chow, the recently retired CEO of AT&T Business.

Both women have so much experience and wisdom to offer. We would have a great conversation about business, branding, and people—with perhaps a little football talk.”

DOREEN GRIFFITH

Grant Thornton

“I’d choose my wife—the Federal Reserve Bank of Dallas’ vice president in charge of strategic planning, business development, and product management of its IT services. She was the fir t Asian female officer appointed and has a lot to share about workplace issues facing minority women. The second must be Shaquille O’Neal; I admire his kindness to other human beings.”

YEN ONG

D I N N E R PA RT Y

Reservations for Three edited by BEN SWANGER

“Growing up in Oak Cliff, I would frequent Black Images bookstore, which specialized in texts relevant to the Black community. Sadly, activist and owner Emma Rodgers closed it as many residents fled Oak Cli . Today, Peter Brodsky has sparked a resurgence of investment in Oak Cliff. Accordingly, I would love to have dinner with Emma and Peter to see what magic could be made.”

MARISSA HORNE

Capital One

070

OCTOBER 2022

OD_DinnerParty_1022.indd 70

PHOTOG R APHY BY INA PETE RS

5G Studio Collaborative

DCEOMAGAZINE.COM

8/25/22 8:08 PM

D CEO 2022 Corporate Counsel Awards Finalist CONGRATULATIONS!

PepsiCo is proud to congratulate Charlie Boehler on being named a 2022 Corporate Counsel Awards Finalist.

Charlie is a consummate business partner, essential to the

growth and protection of some of the most iconic brands in the consumer packed goods industry, including Doritos, Ruffles, and

Tostito's. His legal expertise, talent development skills, and integrity have earned the respect of his business clients and colleagues.

Well done Charlie!

Charles B. Boehler Legal Senior Director, Marketing & Litigation

_StackedPartials.indd 4

® ®

™

9/6/22 12:45 PM

OFF DUTY

DOWN TIME

The Beach House, Martha’s Vineyard offers ample space for R&R with the entire family.

TOP NOTCH

An Edgartown favorite, Alchemy Bistro & Bar, offers an inspired seasonal menu.

W E L L T R AV E L E D

Martha’s Vineyard Family time and R&R is a must for this laid-back locale, where staffing exec Matrice Ellis-Kirk has a summer home. story by BRANDON J. CALL

SHIPS AHOY

COZY COTTAGES

There are fi e lighthouses on Martha’s Vineyard, and each one offers its own unique look.

COASTAL CUISINE

For one of the best lobster rolls on the island, visit takeaway hotspot Square Rigger.

Take time to visit the charming and brightly hued gingerbread homes of Oak Bluffs

BEACH STROLL

According to Trip Advisor, South Beach is the highestrated beach on Martha’s Vineyard.

072

OCTOBER 2022

OD_WellTraveled_MarthasVineyard_1022.indd 72

8/31/22 8:48 PM

OFF DUTY

BEST VIEWS

Seafood Shanty’s rooftop bar offers local brews and breathtaking views of the Edgartown marina.

E L L I S - K I R K BY J A K E M E Y E R S ; P H OTO G R A P H Y C O U R T E S Y O F M A R T H A ’ S V I N E Y A R D C H A M B E R O F C O M M E R C E AND S H U T T E R S T O C K

I

it was an escape from texas’ sweltering 100-degree heat that lured a few friends and me to the idyllic coastal haven of Martha’s Vineyard this past summer. Instead of staying at one of the island’s many high-end resorts or charming bed and breakfasts, we opted for an expansive four-bedroom residence called The Beach House, Martha’s Vineyard, which we found via StayOne, a vacation rental site offering ultraluxe properties all over the country.

Located just a stone’s throw from the upscale restaurants and shopping in Edgartown—and a short five-minute bike ride from the picturesque South Beach—it sleeps seven with a pool house, guest house, and main home featuring spectacular views of 1.6 acres of pristine greenery. Pulling up to the gated residence, we were welcomed by the friendly property manager, Dave, and beautiful blooming flowers all around the perfectly manicured grounds. We spent the fir t evening huddled around the home’s firepit, imbibing on a glass or two of vino and soaking up the ambiance of this spectacular property.

We grilled fresh jumbo shrimp and veggie kebabs for lunch on day two, utilizing the fantastic outdoor kitchen. After a day of rest and relaxation spent sunbathing and making use of the heated saltwater swimming pool and Jacuzzi, we made reservations for dinner at Alchemy Bistro & Bar for new American fare in a

DCEOMAGAZINE.COM

OD_WellTraveled_MarthasVineyard_1022.indd 73

casual, yet refined, atmosphere. The Edgartown Old-Fashioned, Jonah Crab & Grilled Asparagus Salad, and Pan-Seared Halibut were all standout dishes.

The next day, after a quick morning workout at the in-home gym, we ventured back into Edgartown for some sightseeing and much-needed retail therapy. The most Instagram-worthy views of the pier can be seen from the rooftop of Seafood Shanty, where we sampled local ales. The refreshing MV Ale by Bad Martha Brewery quickly became a favorite. Be sure to take some obligatory selfies at the famous Edgartown Lighthouse and Joseph Sylvia State Beach, where the views of the ocean seem to go on forever.

If you’re feeling super adventurous (not me!), you can also jump off the bridge that was featured in the 1975 blockbuster Jaws. For something different, visit Oak Bluffs Harbor. From gingerbread-like cottages to a flying horse carousel, the area delivers on family fun.

We ended our eventful day by taking a sunset stroll along South Beach, a barrier beach offering fantastic surfing and a calm, protected pond for swimming. I dipped my toes in the water before finding a secluded site to stare out and appreciate the expansive Atlantic Ocean. There was something quite magical and soothing about taking a minute to be in the moment there, miles away from the hustle and bustle. I felt my blood pressure lower and my worries melt away.

A late dinner reservation at L’Etoile Restaurant and its fine French cuisine at the Sydney Hotel­— the highlight of our culinary finds in Martha’s Vineyard—was the perfect way to punctuate our stay. We started with the scrumptious Pan-seared Duck Foie Gras, which was divine. The SEASIDE OASIS Edgartown’s star of the evening, though, was the marina is home L’Etoile Surf and Turf, which includto some of the world’s most ed lobster etuvée and an 8 oz. filet beautiful yachts and sailboats. mignon. Our bellies full and hearts content, we returned home for a final slumber in paradise.

We enjoyed coffee and croissants on the sundeck, then grabbed a quick lunch at takeaway hotspot Square Rigger for one last lobster roll, before saying goodbye to our home away from home. We’re already making plans to return.

T R AV E L T I P S

Foodie Finds Matrice Ellis-Kirk of the Ellis Kirk Group is no stranger to Martha’s Vineyard. She and her husband, ex-Dallas mayor Ron Kirk, have called the island a summer getaway for a number of years. The couple highly recommends the burgers at Atria and any and all of the seafood options at Nancy’s Restaurant.

Ben & Bill’s Chocolate Emporium in Oak Bluffs is the Kir s’ go-to for ice cream, Nomans for live music, and they say the best pizza on the island can be found at the Offsho e Ale Co. For staples of coastal cuisine, Ellis-Kirk recommends the clam chowder at Red Cat Kitchen and, of course, the lobster rolls at Lookout Tavern.

She also advises trekking to Menemsha, a small fishing village on the west side of the island, for spectacular views of the sunset.

OCTOBER 2022

073

9/6/22 3:45 PM

OFF DUTY

LEGACY LEADER

Powers’ parents on their wedding day (top left). Her dad owned a business and her mom was in marketing.

EARLY GOALS

In Cairo, Powers dreamed of becoming a ballerina (below) before discovering technology.

GO-GETTER

She learned about ambition and independence from an young age, inspired by her mother.

ROOTS

DALIA POWERS as told to CARLA McCANNA illustration by JAKE MEYERS

0 74

after earning a computer science degree at The American University in Cairo, Dalia Powers moved to Dallas to work on a project with Texas Instruments. She has since held roles at global firms CBRE, Capital One, and USAA, eventually moving into her current position as senior vice president and CIO of digital and data platforms at Humana. Here, Powers shares what sparked her career journey—and her love for Dallas.

“I grew up in Cairo in a family of three girls.

My dad owned his own business, and my mom was a general manager of sales and marketing at a large local company. That was at a time when it wasn’t common for women to be in leadership positions. I credit my mother for being such an amazing role model for me. She really helped me understand the value of having a career and be-

ing independent, ambitious, and driven. When I was young, I dreamed of becoming a ballerina, but at a very early age, I was also interested in math and science. I was 12 or 13 years old when I signed up for a computer science class. That got me hooked. It was fascinating to use technology to solve problems and to be able to program machines. I happened to land in Dallas and fell in love with it. Growing up in Egypt, I always saw American television shows and movies. I used to watch Dallas reruns. Obviously, TV is not always reality, but it was a good introduction. I was pleasantly surprised to find that there are more similarities to Egypt than I had thought, but I enjoy some of the differences, too. Cairo is a very active, busy city, and Dallas feels a little bit more laid back. That’s something I really love.”

P H OTO G R A P H Y C O U R T E S Y O F D A L I A P O W E R S

Senior Vice President and CIO of Digital and Data Platforms HUMANA

OCTOBER 2022

OD_Roots_Powers_1022.indd 74

8/29/22 8:14 AM

We are very proud to congratulate

Jeremy Spiegel on being recognized as a finalist for the Outstanding In-House Counsel Awards.

We are honored to have Jeremy in the Capform family.

IntegrityMa rketing.co m

Congratulations from the Integrity family!

We’re proudly celebrating Chief Legal Officer

Jayne Rothman as a D CEO Award finali t for Outstanding General Counsel – Small Legal Department.

We’re cheering for you, Jayne!

_StackedPartials.indd 5

Jayne Rothman Chief Legal Officer, Integrity

9/6/22 12:45 PM

END MARK

ART PARK

Raymond Nasher spent $70 million to fund the Nasher Sculpture Center in Dallas’ Arts District.

Dallas’ King of Art and Commerce R AY M O N D N A S H E R October 26, 1921 — March 16, 2007

story by CARLA McCANNA

076

OCTOBER 2022

EndMark_Nasher_1022.indd 76

COURTESY OF C I T Y O F D A L L A S A R C H I V E S

B

orn in boston in 1921, Raymond Nasher grew up an only child of a Russian immigrant garment-maker who instilled an appreciation for art through monthly trips to museums. After graduating from Duke University in 1943, he met his wife, Patsy, and moved to her hometown of Dallas in 1950, where they raised three daughters. Over the years, the couple cultivated an internationally renowned art collection, including paintings and sculptures by masters Picasso, Matisse, Rodin, and more. In a 1997 interview, Nasher explained their philosophy: “My wife and I determined that the only art that we would purchase would be things that brought a great sense of love and interest intellectually, or aesthetically, to our being—to our soul.” Nasher made his fortune in banking and real estate. When his iconic NorthPark Center made its debut in 1965, it was the largest climate-controlled retail space in the world. Nasher also made time to serve as executive director of the White House Conference on International Cooperation, as a U.S. delegate to the General Assembly of the United Nations, and other roles. His family foundation funded the $70 million Nasher Sculpture Center, which houses their contemporary sculptures.

Designed by Pritzker Prize winner Renzo Piano, it opened in 2003 in the Dallas Arts District.

DCEOMAGAZINE.COM

8/25/22 4:05 PM

BellNunnally.indd 1

9/6/22 3:36 PM

You scratched, you clawed, you conquered.

You worked hard to build your business. We’ll work even harder to earn yours. We’re a full-service financial firm founded and headquartered in Texas that delivers the products and solutions you need, with the local expertise you want.

texascapitalbank.com

Texas Capital Bank

TexasCapitalBank.indd 1

Member FDIC

NASDAQ®:TCBI

8/31/22 9:06 PM