Dallas-based Neiman Marcus is owned by private equity firms TPG Capital and Warburg Pincus. Bloomberg has learned the owners are exploring a sale or an initial public offering of the retailer. Neiman Marcus was purchased in 2005 for $5.1 billion and may be sold for $8 billion dollars after the chain has increased in store and Online sales.
Austin-based Allure Energy says they will start building their new programmable thermostat right in the capital city. Their product, Eversense, will not only be made in Austin, but will also use semiconductor components made in Austin as well. Eversene works on iPhones and Androids and will adjust a home's heating or cooling based on when the last person leaves by detecting the last mobile phone that leaves a house. You can also set a proximity zone. If if you come within 10 miles of your home the heating or cooling system will automaically turn on.
Texans started paying more for title insurance last week because of a price hike quietly approved in March by the state insurance commissioner. The 3.8 percent increase is the first in 22 years. Title insurance is required for any new mortgage or refinancing deal to show the title is clear.