Latest news with #SanAntonio-based
Axios
3 days ago
- Business
- Axios
Tacos on the Street moves HQ from Mexico to San Antonio
Fast-casual restaurant Tacos on the Street has moved its headquarters from Mexico to San Antonio and is opening its first U.S. location here next month. Why it matters: Company leaders chose the city as the home base for a larger expansion into the U.S. The latest: Tacos on the Street will open in August off U.S. 281 near Stone Oak, a growing area with plentiful dining options. The company will share an exact opening date in the coming weeks, per a press release. Flashback: Tacos on the Street began as a stand in Puerto Vallarta, Mexico, in 1993. Zoom in: The fast-casual spot is known for its carne asada. The signature street-style tacos feature two house salsas, a creamy avocado verde and a bright tomato cruda, with a fire-roasted chile de árbol salsa also available. The tortillas are homemade and pressed daily, just as San Antonio expects. The restaurant also offers margaritas, mezcalitas and ice cream from Van Leeuwen, the first time the brand will be available in San Antonio. The interior design was led by Joel Mozersky, who worked on familiar San Antonio spots Pullman Market and Brasserie Mon Chou Chou at Pearl. What they're saying:"San Antonio felt like the natural place to begin our growth in the U.S.," San Antonio-based marketing director Natalia Bustamante said in a statement.
Miami Herald
12-07-2025
- Business
- Miami Herald
Popular vodka and whiskey brand files for Chapter 11 bankruptcy
The distilled spirits industry has faced economic hardship in 2025, as several distillers struggled with financial distress, closed businesses, and filed for bankruptcy. The industry finished 2024 with a decline in spirits supplier sales that dropped 1.1% to $37.2 billion, the Distilled Spirits Council of the United States reported in its Annual Economic Briefing in February 2025. Don't miss the move: Subscribe to TheStreet's free daily newsletter The year concluded with Stoli USA, a subsidiary of vodka giant Stoli Group, filing for Chapter 11 protection on Nov. 27, 2024, after financial distress led to a default on $78 million in secured debt owed to Fifth Third Bank NA. Related: Giant healthcare company files Chapter 11 bankruptcy seeking sale Also in November, Sacramento-based spirits manufacturer JJ Pfister Distilling Co., which launched in April 2018, closed its distillery and tasting room in November 2024 with plans to market its assets for sale. The distillery, however, waited until May 2025 to file for Chapter 11 protection. Beginning in February, tariffs imposed by the Trump administration on foreign imported spirits caused a lot of uncertainty in the spirits and wine industries, with companies not knowing what to expect going forward. The San Antonio-based Devils River Distillery LLC, which opened for business in 2017, filed for Chapter 11 protection on May 1, 2025, to reorganize and continue operating. The Devil's River Whiskey distiller makes five different bourbon whiskeys and a rye whiskey. The company distributes its liquor to 36 states, five countries, and cruise lines, offering premium and craft bourbons. The maker of Westward Whiskey, House Spirits Distillery LLC, filed for Chapter 11 bankruptcy on April 6 to reorganize, suffering from financial distress after over-expanding just before the liquor market contracted. Craft spirits producer Boston Harbor Distillery, which makes whiskey, rum, gin, liqueurs, and distilled beer, on March 31, 2025, filed for Chapter 11 bankruptcy protection, seeking to reorganize its business. Tacoma, Wash.-based McCallum & Sons Whisky Co., a premier boutique Scotch whisky and cognac bottle shop, revealed on its website that it is liquidating its inventory and closing permanently on April 30, 2025. The company did not file for bankruptcy at last check. And now, popular distilled spirits producer Dented Brick Distillery filed for Chapter 11 bankruptcy to reorganize its business and continue as a going concern. Related: Home Depot rival files for Chapter 11 bankruptcy to sell assets The debtor's parent company, Salt Lake City Distillery LLC, filed its petition in the U.S. Bankruptcy Court for the District of Utah on July 10, listing up to $50,000 in assets and $1 million to $10 million in debts. More bankruptcy Major iconic food brand files for Chapter 11 bankruptcyPopular Dairy Queen rival franchisee files Chapter 11 bankruptcyPopular vision care chain files for Chapter 11 bankruptcy The Salt Lake City-based distillery, formerly known as Mormon Tea Distillery, lists 17 different types of spirits on its website. The company sells bottles of its spirits on its website in all states, except Michigan, South Dakota, and Utah. Dented Brick sells premium and craft vodka, gin, and rum; craft whiskey and various straight rye whiskeys, craft tequila, and its Hugh Moon Moonshine, named after the Utah pioneer distiller, who once owned the land where Dented Brick stands. Currently, customers can order bottles of Dented Brick's Chardonnay Barrel Finished Gin, Chardonnay Barrel Finished Straight Rye Whiskey, Craft Tequila Blanco, Coconut Flavored Rum, and Glitter Pineapple Flavored Rum online. The website says its Craft Vodka and Craft Gin are out of stock for online sales. The company also sells its spirits at various shops in 25 states nationwide. Related: Another major job recruiter firm files Chapter 11 bankruptcy The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
The Hill
11-07-2025
- Climate
- The Hill
As Kerr County leaders avoid alert questions, new audio surfaces in CodeRED timeline
KERR COUNTY, Texas (KXAN) – Dispatch audio has surfaced from the critical hours before a deadly flood hit its height in Kerr County, helping piece together the timeframe local officials have yet to provide amid public scrutiny of their decisions on July 4. 'We still have water coming up,' an Ingram volunteer firefighter is heard telling a county sheriff dispatcher at 4:22 a.m. 'The Guadalupe Schumacher sign is underwater on State Highway 39. Is there any way we can send a CodeRED out to our Hunt residents, asking them to find higher ground or stay home?' LISTEN: Ingram volunteer firefighter calls Kerr County dispatch during deadly July 4 flood, requesting CodeRED alert. CodeRED is a notification system some agencies use to send emergency alerts to subscribers' cell phones. Online, the county encourages residents to sign up for the free service, which 'has the ability to notify the entire county or only the affected areas' about emergency situations – including severe weather – 'in a matter of minutes.' In the recording obtained by KXAN investigators from a credible source, the dispatcher then tells the firefighter: 'We have to get that approved with our supervisor. Just be advised we do have the Texas water rescue en route.' The timing of that request came more than three hours after the National Weather Service issued a flash flood warning – at 1:14 a.m. – for a portion of the county and around 20 minutes after the federal forecasting agency warned of a flash flood emergency – at 4:03 a.m. – in the area. It is still unclear at what time CodeRED alerts went out, as local officials have largely sidestepped related questions. Kerrville Mayor Joe Herring, Jr. told reporters the only CodeRED notification he received was at 6 a.m., indicating a flash flood alert or 'something to that effect.' Ceslie Armstrong, who identified herself as a San Antonio-based producer and journalist – and longtime Hill Country resident who is subscribed to CodeRED – provided KXAN investigators with call recordings and text messages she said she received during the flood. The first was a text received at 5:34 a.m., saying a 'The NWS has issued a Flash Flood Warning for your… location.' It was followed a minute later by a pre-recorded audio message, saying the same, adding to 'take immediate action for your protection.' CodeRED alerts from Kerr County on July 4 (Courtesy Ceslie Armstrong) Another person near the flooded area who spoke with KXAN shared a cell phone screenshot, showing a much earlier alert time with a voicemail left at 1:14 a.m. from a number traced back to CodeRED. It suggests inconsistencies in recipients countywide. Responding to CodeRED concerns during a Wednesday press event, Kerr County Sheriff Larry Leitha said an 'after action' review would happen after recovery and notifying victims' families. 'I know that's going to be asked over and over,' Leitha said. 'Please understand that… We're not going to hide from everything, that's going to be checked into at a later time.' On Thursday morning, officials updated the county's death toll to 96. A total of 161 people were still missing. County commissioners approved the use of CodeRED in 2009 for $25,000 a year. On the county's website, it states the 'system delivered pre-recorded emergency phone messages' when 'rapid and accurate notification is essential for life safety.' Historically, the sheriff has had the ultimate authority on sending an alert to the public. KXAN is awaiting a response and fulfillment of records requests we made to the county and other local officials to better understand decisions regarding the notifications during this flood. On Tuesday, Leitha told reporters: 'It's not that easy, and you just push a button. OK? There's a lot more to that.' When asked if that happened, he responded: 'I can't tell you at this time.' Critics point to challenges with CodeRED using publicly available phone numbers and voluntary registration to send texts, voicemails and emails – meaning warnings may not reach all residents or visitors in a disaster area. However, the company behind CodeRED has explained it can also utilize IPAWS, the Integrated Public Alert & Warning System funded by FEMA – which alerts all phones in a geographical area, regardless of enrolling in the system. According to FEMA, 135 Texas agencies or entities use IPAWS, including Kerr County and the City of Kerrville. 'Each local jurisdiction independently determines their intended use of tools such as CodeRED as well as their local process to dispatch notifications and alerts using the tool,' a CodeRED corporate spokesperson told KXAN investigators. 'Local governments also determine whether to send alerts through IPAWS during the alert creation process within CodeRED.' In 2012, The Kerrville Daily Times reported 18,451 people had signed up for CodeRED alerts in the area. In 2020, county commissioners approved incorporating IPAWS into CodeRED, so that tourists could be reached even if they were not in the local database, according to meeting minutes and a video archive KXAN investigators reviewed. 'The easiest way to explain it is, say you're traveling through this area and we've had something happen here, it could still notify you if we send it out,' former Kerr County Sheriff William 'Rusty' Hierholzer told commissioners in a November 2020 meeting. Since last week's flood, officials have fielded questions regarding the effectiveness of CodeRED alerts in the county's rural areas where cell service can be spotty. Officials have also said many of the children at camps along the Guadalupe River did not have phones with them.
Yahoo
10-07-2025
- Business
- Yahoo
Frost CFO: ‘We are that stable bank in Texas'
This story was originally published on Banking Dive. To receive daily news and insights, subscribe to our free daily Banking Dive newsletter. When Dan Geddes interviewed at Frost Bank nearly three decades ago, he met with people who'd been at the bank for 28 years – a stark contrast to other banks where he interviewed, whose employees had far shorter tenures. Geddes himself has now been at the San Antonio-based lender for 28 years and, at the beginning of the year, filled the chief financial officer seat vacated by Jerry Salinas, who retired at the end of 2024. 'I remember thinking, 'I've got to find out why people stay here so long,' and now I'm that person that's been here forever,' said Geddes, who comes to the CFO role by way of the commercial bank, rather than accounting or finance. 'It just doesn't happen very much anymore in most industries and most companies.' To Geddes, it speaks to the culture of the 157-year-old bank, and preserving that culture as the bank has expanded across the state is a top priority, he said during a recent interview. 'We are that stable bank in Texas,' he said in a recent interview. Amid recent deadly flash flooding, parts of Texas undoubtedly are seeking stability. To that end, the lender's Hill Country branches will direct a $500,000 grant from the Frost Bank Charitable Foundation to the Community Foundation of the Texas Hill Country's Kerr County Flood Relief Fund and other local flood-relief efforts, the bank said Tuesday. Communities in the county, including Kerrville, Hunt, Ingram, are among the hardest hit after torrential downpours last Thursday sent the Guadalupe River surging 22 feet in flooding that killed at least 110 people, while as many as 173 more remained missing as of Wednesday. 'There are so many of us at Frost who know someone who either was affected by the disaster or who is connected in some way with the affected people and communities,' said Hill Country market president Kevin Thompson in a news release. 'We're heartbroken by the devastation, and our hearts go out to the families of those who died or were injured.' Frost is making emergency disaster loans available to borrowers, and contacting customers in affected areas to discuss ways to temporarily defer loan payments if needed. Frost has a branch in Boerne – in neighboring Kendall County, which also saw flash flooding last week – and is building new locations in Kerrville and Fredericksburg. Frost's operations were unaffected and the $52 billion-asset bank's branches remain open, a spokesperson said. Consistency and dependability have been key to Frost's identity, Geddes indicated. When other banks have taken more aggressive pricing structures during robust economic times, Frost has lost some deals, he said, 'but we more than make up for it when there is uncertainty.' Prospects were much more willing to talk to Frost during tougher times, when others had backed away, Geddes said. In pursuing organic growth, CEO Phil Green 'has shown the willingness to make investments to help support long-term growth, instead of being overly focused on quarterly earnings or chasing the flavor of the month in banking,' D.A. Davidson analyst Peter Winter wrote in a recent note. The bank is keeping its head down on its expansion strategy, and remains definitively uninterested in M&A, Geddes said. 'We get to recruit the bankers that want to be with us, not the ones that we inherited,' Geddes said. 'We get to bring in customers that chose us, not that we bought and we're trying to maintain. And we get to choose the locations; we're not stuck with the locations of the bank that we bought.' Frost also maintains better control of its culture and avoids the distraction of systems integrations that acquisitions require, he asserted. Although the bank may someday pursue expansion outside Texas as it inches toward $100 billion in assets, Geddes said Frost has plenty of room to grow within the state. The bank is only scratching the surface in the state's biggest markets, Houston and Dallas, in terms of deposits, Geddes said. In Houston, Frost has about 5% of bank branch share, but only 2.5% deposit market share; in Dallas, Frost has a 3.6% branch share and about 1% deposit market share, Geddes said. By comparison, Frost has a 10% branch share and 27% deposit market share in San Antonio and a 9% branch share and 25% market share in Corpus Christi, Geddes noted. Frost is 'planting trees, not corn,' and the expansion strategy requires patience, bank executives have said. The bank has close to 200 branches across the state. The average age of new branches in Houston is about five years, while Dallas is about two years and Austin – where the bank said in 2023 it planned to double its branch presence – is less than one. After four years, the bank generally starts reaping what's been sown, Geddes said. In most of Frost's markets, money center banks have about 50% or more of the market share, he said. Frost gets about half of its new commercial relationships from those banks, seeking to compete by focusing on customer service, personal touch and the ability to talk to decision-makers. Frost also recruits experienced talent from those big banks and smaller lenders, but is less interested in acquiring teams of bankers. 'We don't look to bring over teams. We find that that can create little subcultures within your organization,' he said. 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07-07-2025
- Business
How to help victims of deadly Texas floods
Disaster relief efforts are underway to help those affected by the catastrophic flash flooding in Texas Hill Country that killed at least 80 people, with more still missing. On Sunday morning, President Donald Trump signed a disaster declaration for Kerr County, which was hit the hardest with 68 deaths, and the Federal Emergency Management Agency is on the ground. After flooding began early Friday, the Coast Guard activated with Texas first responders to save hundreds from the floodwaters, and search and rescue crews continue their efforts. How to help after deadly Texas floods During a news conference Sunday, officials shared developing resources for the local community and ways to get involved from afar for those looking to help. Kerr County Sheriff Larry Leitha and Kerrville Mayor Joe Herring Jr. said a Kerr County Flood Relief Fund has been established online via the Community Foundation of the Texas Hill Country. The 501(c)(3) charity was established to help support vetted local response, relief and recovery efforts. Click here for more information on donations and how to help. H-E-B Herring also noted that H-E-B, the popular San Antonio-based supermarket chain, is setting up a mobile kitchen that will help feed those in need in Ingram and Hunt. "Kerrville, where our company was started, and the Hill Country have a special place in the heart of our H-E-B family. As part of our initial outreach there, we are working closely with the Red Cross, local officials, and first responders to support their needs," the grocery store stated in a press release Saturday. "Additionally, we have sent aid to support efforts in San Angelo, Marble Falls, and other impacted areas," the company continued. "Our teams are staying close to the hardest-hit areas, and we will continue to provide needed support as these tragic situations evolve." More updates with resources will be available on the H-E-B website here. Red Cross The American Red Cross has activated in Texas with local partners to support emergency shelters that provide food, relief supplies and other critical resources, including financial and family travel assistance, but said in a press release Sunday that at this time, it "has the resources it needs to respond and is not accepting financial or in-kind donations designated specifically for this event." Several emergency shelters are open to anyone "seeking refuge or a place to charge their phone and connect with our Disaster Mental Health volunteers," the organization stated. The Red Cross also has two reunification centers open now to help reconnect families and loved ones. More information can be found here and below. "Our hearts are heavy as we witness the devastating impact of the recent floods in Texas," the organization stated. "The loss of life and destruction are truly heartbreaking. We stand with the affected communities during this difficult time." Reunification Requests: For those in search of someone who has been impacted by the floods, the Red Cross has casework teams available by phone 1-800-RED CROSS (800-733-2767) or online through a monitored digital form here. Mental health support: "If you are struggling with the emotional toll of this disaster, please remember, you are not alone. Call SAMHSA at (800) 985-5990 or text 988 to connect with a trained mental health professional," the Red Cross stated Sunday. World Central Kitchen World Central Kitchen, a nonprofit founded by chef and humanitarian José Andrés, has activated in Central Texas, where volunteers are gathering food and water for first responders and victims in the affected areas.
