SAN MARCOS, TEXAS — HDR has opened an office in San Marcos to serve Hays County and nearby cities including San Marcos, Kyle, Buda and Dripping Springs. The employee-owned engineering firm has leased space in the Red Oaks shopping center, located at 1290 Wonder World Drive, near the Hays County Government Center. Allen Crozier has been named manager of HDR’s San Marcos office. Crozier has been with HDR since 2005 and previously worked with the Texas Department of Transportation.
Company News
SPRINGFIELD, MO. — John Q. Hammons Hotels & Resorts (JQH) has filed for Chapter 11 bankruptcy. Springfield-based JQH is an owner and manager of hotels throughout the United States featuring brands such as Marriot, Hilton, Embassy Suites, IHG and more. The company is financially sound, but is filing for bankruptcy to restructure the organization and “navigate a litigious environment,” says Jacquie Dowdy, CEO of JQH. According to the Wall Street Journal, the legal battle is a result of a 2005 buyout in which John Hammons sold a portfolio of 43 hotels of hotels to Jonathan Eilian. Under terms of the contract, Hammons received equity interest in the acquiring company, and Eilian received right of first refusal for the sale of the JQH’s remaining 35 hotels. Eilian later sued JQH, claiming the company has made no move to sell those remaining properties. JQH’s Gregg Groves is providing in-house legal counsel in connection with the Chapter 11 filing, and Stinson Leonard Street LLP is providing outside counsel for the restructuring. JQH currently maintains a portfolio of 35 hotels that include 8,500 rooms scattered throughout 16 states.
NEWPORT BEACH, CALIF. — PIMCO has announced Dr. Ben Bernanke, former Chairman of the Federal Reserve, as a senior advisor to the firm. Bernanke will utilize his economic expertise to advise the firm throughout the investment process. He will also engage with PIMCO’s clients from time to time. Bernanke served a 14-year term as a member of the Federal Reserve Board of Governors. He spent eight of those years as Chairman of the Board. Bernanke maintained a seat on the Financial Stability Oversight Board, which oversaw the Troubled Asset Relief Program, throughout his two terms as Chairman. Bernanke was succeeded as Chairman of the Federal Reserve by Janet Yellen, the first woman to hold the position. She overtook the role on Jan. 6 of last year.
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