Hedge Fund Seeks To Oust Southwest CEO

Elliott Investment Management, a Florida-based hedge fund, has bought a $1.9 billion stake in Dallas-based Southwest Airlines. It’s seeking to oust CEO Robert Jordan amid the carrier’s recent financial and operational challenges.

Elliott blames the 50% drop in Southwest’s shares over the past three years on “poor execution and leadership’s stubborn unwillingness to evolve the company’s strategy,” citing outdated software and operational processes as the cause of the company’s mass cancellations in December 2022.

Southwest’s stock soared 7% on the news, it’s second-biggest move since 2020.

Cuellar’s Corruption Trial Delayed

A federal judge has postponed U.S. Rep Henry Cuellar’s (D-TX) federal corruption trial until after Election Day in November.

Cuellar, who is seeking reelection, is accused of accepting bribes from Azerbaijan and a Mexican bank in exchange for legislative influence—including a speech on the House floor about Azerbaijan’s territorial dispute with Armenia.

The long-time House member denies the allegations and said that all his actions in Congress have been done “to serve the people of South Texas.”

Texas Mulls Power Slap Sanction

Texas may become the third state to sanction Power Slap fights.

The matches are simple. Two full-grown adults slap each other in the face as hard as they can, and the first person to get knocked out loses. Or, if a knockout doesn’t occur in three rounds, judges declare a winner based on the artistry of the slaps.

Nevada and Florida have already sanctioned the sport, and Texas awarded it a promotor’s license earlier this year.

Officials will discuss the final approval of the Dana White-owned company at a June 20 meeting.

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➤ Corpus Christi: Four train tank cars loaded with vinyl chloride derailed under a highway underpass. No leaks have been detected. (More) 

➤ Homeschooling is on the rise in Texas, with a 69 percent increase in enrollment in 2024 compared to 2023. The surge was attributed to parents’ frustration with how schools handled the pandemic. (See Details) 

➤ Galveston: A 20-year-old woman tragically drowned on Sunday near the 47th Street jetty on Galveston Beach, marking the fourth fatal incident in the area since Memorial Day. (More) 

➤ Austin: A Travis County assistant district attorney was arrested Saturday morning after he allegedly pointed a gun at his roommate in an argument. (See Details) 

➤ El Paso: A bridge along West Paisano Drive, EB US 85, received a “poor” condition rating and will be closing in late summer for a year-long repair. (More) 

➤ McAllen: A former Texas police officer accused of smuggling marijuana across the Southwest Border has turned himself in. He was on the run for more than 13 years. (More) 

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➤ Will Wagner, son of Astros legend Billy Wagner, is hitting .472 over his last ten games for the Sugar Land Space Cowboys, the Astros’ Triple-A team. (More) 

➤ A lineup of orange and white Lamborghinis greeted recruits at UT as they arrived on campus for official visits. The cheerleaders were next. (See Video) 

➤ The Texas Panhandle Sports Hall of Fame inducted its 66th class over the weekend, including former Miami Dolphins linebacker Zach Thomas. (More) 

➤ Yesterday’s results: MLB | WNBA | French Open

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➤ DFW is now the world’s busiest airport for departures and the second busiest for arrivals. In June, over 34,000 flights will take off from American Airlines alone. (More)

➤ San Antonio-based Zachry, a holding company, has laid off 4,410 workers due to trouble on the Golden Pass natural gas project. Electricians, carpenters, ironworkers, and pipe fitters were hit the hardest. (More) 

➤ Zieben Group is building a 33-story mixed-use tower in Houston’s Uptown/Galleria neighborhood, complete with 125 apartments, two restaurants, and a helipad. (More) 

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➤ Wildlife experts are urging Texans not to touch baby deer, even if they appear to be abandoned. Does often leave their young in safe places before returning to them, and interfering can prevent bonding with the doe. (More) 

➤ A man named “Optimus Prime” was arrested for stealing a car in south Austin—a decision likely to transform his life in a negative way. (Full Report) 

➤ Here’s a list of celebrities who have moved to Texas recently, including model Bella Hadid and actor Glen Powell. (See the List) 

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Which of the following Texas landmarks is your favorite to visit? 

1. Big Bend National Park
2. Alamo / San Antonio River Walk
3. State Capitol
4. Johnson Space Center
5. Fort Worth Stockyards
6. Enchanted Rock
7. San Jacinto Battleground
8. Fort Worth Stockyards
9. Other

Monday’s Results:

Have you ever visited a Buc-ee’s gas station?

1. 1. Yes: 80.6%
   2. No: 19.4%

What town in Texas is known for its annual “watermelon thump”?

Show me the answer