The formula taking place in Corpus Christi is at times comical, if it were'nt for the tragic consequence taking hold. Being raised here and returning after thirty years, has been very disappointing.
The last 20 years have seen a growing interest in restoring classic theaters. Following in the footsteps of the Paramount in Austin, the Majestic in San Antonio, and the Plaza Theater in El Paso, the Corpus Christi PATCH (Positive Action Towards Cultural Heritage) is working to restore the Ritz Theater in downtown Corpus Christi.
Former TAMUCC Athletic Director Brian Teter is suing President and Bold Future co-leader Flavius Killebrew asserting that he lied to NCAA officials in order to put the blame on Teter for violations of NCAA rules. Teter also alleges Killebrew unlawfully fired him over unrelated issues, Teter says are retaliatory. That suit could put Killebrew under oath about his NCAA Testimony.
Low wages continue to have mixed effects on the area, helping to maintain a lower unemployment rate in the area but continuing to limit spending that would stimulate the local economy.
Fortress Hedge fund owned Intrawest continues to restructure in its attempts to avoid filing bankruptcy. Intrawest who was the company that was interested in building a resort with Paul Shexnailder on North Padre Island withdrew its offer after citizens voted against closing the beach to vehicles. Fortress bought the debt laden Intrawest at the peak of the boom and then loaded the company with more debt that was used to fund the buyout. The link to the attached article on Bloomberg explains their situation. http://www.bloomberg.com/apps/news?pid=20601103&sid=aXLieD352P.M
