Entries in austin (7)
Glenn Beck Rents a House in DFW Area
Could Katz's Klose?
Katz's Deli is such an iconic spot that when CNBC did a story last week about Texas being one of the best places to do business, they broadcast live from Katz’s Deli on 6th street. CNBC possibly chose the wrong location considering they parent company M&M Katz Inc filed for Chapter 11 protection July 20th.
Despite the filing, owner Marc Katz said the deli’s motto — “Katz’s Never Kloses” — will remain true, albeit probably not at the 618 W. Sixth St. location has called home since 1979.
Katz’s Deli was founded when the then-33-year-old New Yorker had “more hair and a lot less belly,” moved his family down to Texas and with a loan from his ex-wife's mother was able to achieve his dream of serving New York-style deli classics and traditional Jewish kosher-style cuisine.
Most around the state know Katz as the man who would do anything for free publicity including running for Mayor of Austin and most recently, Lieutenant Governor of Texas. He said the bankruptcy is not related to the failed campaign attempt. Instead, he said rent is too expensive and his landlord has threatened to evict him, after Katz sold him the building during hardship and leased space back.
In 2006, Katz said he leased back the deli space and nearby parking for the next 20 years, after selling three downtown properties for $4.4 million. Current court records show he is paying $22,478 a month in rent, or $269,000 per year.
Katz said agreeing to his lease terms was his “biggest mistake,” but also said he was “asleep at the wheel” and did not respond to rising costs and declining economic conditions quickly enough.
Also according to court records, Katz’s Deli owes $121,900 in federal, state and county taxes. The company owes about 14 vendors about $30,000 and owes more than 55 past and present employees about $26,000. The company has annual revenue of about $2.7 million, based on court records that said monthly revenue is $225,900.
Katz said he is looking at several new locations, but did not disclose what parts of town they are in, although he hinted at leaving downtown.
“All options are open. I’ve been looking north and south,” he said.
Katz said he never recovered financially after choosing to enter into a law suit with his son, Barry, who owns and operates delis in Houston, including a Katz's Deli on 616 Westheimer St. and Kattz's Express in The Woodlands. Records show the elder Katz sued his son and the younger Katz decided to separate entirely. The Austin store went to the Marc Katz and Barry built Houston.
This is not the first time Marc Katz has filed for Chapter 11 bankruptcy. In 2004, with about $6 million in debt and as many as 99 creditors, including the IRS, lender Amresco Commercial FinanceLLC, Dallas-based law firm Hughes and Luce LLP, and Katz’s son. A restructuring plan for the bankruptcy was approved in 2005.
Today, the cost of doing business, including insurance and taxes, is rising, and “in hard times you have to cut back, and I didn’t do it fast enough,” Katz said.
DISH spoke with Barry Katz this morning and he had this to say.
"I am sorry to hear about the financial difficulties with the current location in Austin. I hope my Dad finds another location or gets his rent lowered. I am glad he is determined to keep the Austin Katz's from Klosing, this is an Austin institution. This has no impact on my Houston or Woodlands area locations, we have run our businesses separately for about 8 years."
It's FINAL!
Sandra is our kind of girl. You don't get more than one chance to be a complete idiot in her life and DISH subscribes to that philosophy.
The divorce between Sandra Bullock and Jesse James has been finalized in Austin, Texas.
The former couple signed the documents last week and now Sandy is all clear to complete a single parent adoption.
Congrats!
Bullock Files in Austin
According to reports the document was filed on April 23rd and under Sandra's initials -- backwards ... B.A.S.
Jesse James was also identified by his initials -- J.J.G.
The petition says, "The marriage between Petitioner and Respondent has become insupportable because of discord or conflict of personalities that destroys the legitimate ends of the marriage relationship and prevents any reasonable expectations of reconciliation."
Also stated in the papers, Sandra is a resident of Texas. Jesse "is of legal age and agrees to proceed in Austin, Travis County, Texas."
Sandra has reportedly hired the firm of-- Chaffe McCall -- which she has used in the past.
LBJ'S Daughter Hospitalized
Luci Baines Johnson, the youngest daughter of former President Lyndon Johnson, is being treated at the Mayo Clinic for what doctors suspect is a rare autoimmune disorder that affects the nervous system, her personal physician said Saturday.
Johnson, 62, who was flown by air ambulance to the clinic in Rochester, Minn., on Friday, remained in the neuro-intensive care unit, said Dr. Dudley Youman, her doctor in Austin and a family friend.
Initially, Johnson was admitted to a hospital in Austin, Texas, on Wednesday after experiencing "extreme weakness" in her arms and legs, Youman said.
Youman said Johnson had a mild viral illness preceding this, a sore throat and hoarseness that might have been some kind of warning sign.
"She had been in excellent health prior to that, with no medical issue of this type," said Youman, speaking by phone outside her hospital room, which was packed with family. "It was sudden onset."
Youman said he and other doctors suspect Guillain-Barre syndrome, which affects the nerves that control movement and can cause paralysis.
After running extensive tests at the Texas hospital earlier in the week, Youman said doctors decided it best to move her.
Testing continues, and Johnson is being closely watched and is undergoing immunoglobulin treatment for her presumptive diagnosis, her doctor said.
Family spokesman Tom Johnson, who is not related to Luci Johnson, said her husband, Ian Turpin; her four children, and her sister, Lynda Johnson Robb, were among those with her at the hospital.
Although the cause of Guillain-Barre syndrome is unknown, its sudden and unexpected onset can make it a devastating disorder, according to the National Institute of Health. Recovery is not quick.
Luci Baines Johnson is the founder of investment firm LBJ Wealth Management and vice president of BusinessSuites, a nationwide office business service center.
She serves on numerous boards including the LBJ Family Foundation, the Lady Bird Johnson Wildflower Center, the Lyndon Baines Johnson Foundation Board and the SafePlace Foundation Board.
She is a trustee emerita of Boston University, a life trustee of Children's Hospital Foundation of Central Texas and the Seton Fund. She is also a member of the advisory board of Trinity Episcopal School, and a former member of the advisory boards of The University of Texas, School of Nursing and the School of Communication.
"She's a very active person, socially, physically and mentally," Youman said. "This is just a dramatic change."
Johnson was the last person, before Chelsea Clinton, to go directly from the White House to college when she decided to attend the University of Texas in 1966. It was her impending wedding, however, that generated more media interest.