Texas

Subterms

    Latest story

    125 Shares119 Views

    Red McCombs, Car Salesman Turned Media Mogul, Dies at 95

    by

    A Texas entrepreneur, he co-founded the media giant Clear Channel, owned pro sports teams and created more than 400 businesses in a variety of industries.Red McCombs, a former Texas used car dealer who became a billionaire entrepreneur by venturing into an array of successful businesses, including the media giant Clear Channel Communications and several professional sports teams, died on Sunday at his home in San Antonio. He was 95.His family announced his death but did not state the cause.Mr. McCombs was a flamboyant wheeler-dealer who created more than 400 businesses across an array of industries, including oil, real estate, cattle, insurance, movies and racehorses, often selling them at a substantial profit. At various times he owned a pro football team, the Minnesota Vikings, and two pro basketball teams, the San Antonio Spurs and Denver Nuggets.But his heart was in the automobile business, where he began as a standout car salesman in Corpus Christi, Texas, in 1950. He went on to start his own dealership, and then expanded it into a network that at its peak in 1998 included more than 100 outlets, making it the largest car dealership in Texas and sixth largest in the United States.“I was an entrepreneur before I knew what the word was and certainly before I could spell it,” Mr. McCombs said in a 2006 radio interview. “New deals, new opportunities, new ventures are always a part of my life.”A University of Texas alumnus and a passionate Longhorns football fan, Mr. McCombs parlayed his love of sports into ownership of a minor-league baseball team in Corpus Christi in the 1950s.Then he bought the Dallas Chaparrals of the old American Basketball Association in 1973, relocated the team to San Antonio for the 1973-74 season and changed its name to the Spurs.When the A.B.A. and N.B.A. merged in 1976, he played a key role in having the Spurs included in the merger. He sold the team in 1982 and acquired the Nuggets, only to sell that franchise in 1985 for $19 million, nearly twice what he’d paid for it. He then repurchased the Spurs for $47 million before selling it in 1993 for $75 million (about $157 million in today’s money).In a statement on Monday, the N.B.A. commissioner, Adam Silver, called Mr. McCombs “a driving force in creating the modern N.B.A.”In 1998, Mr. McCombs purchased the N.F.L.’s Minnesota Vikings for $246 million, but grew impatient with futile attempts to build a new stadium for the team in the Minneapolis area. He sold the Vikings for $600 million in 2005.He also played a key role in bringing Formula One racing to Austin by investing in the Circuit of the Americas, the Austin track where the annual U.S. Grand Prix race has been held since 2012.In a statement on Monday, the Dallas Cowboys owner, Jerry Jones, called Mr. McCombs “a true Texas titan across sports, media, business and philanthropy” who had “followed his dreams.”Mr. McCombs’s most lucrative venture was Clear Channel, which he co-founded with Lowry Mays in 1972, when they purchased a local radio station in San Antonio, KEEZ-FM, for $125,000. (Mr. Mays died in September at 87.)The two men continued to acquire radio stations, then television stations and billboards around the country. Aided by the 1996 Federal Telecommunications Act, which allowed media conglomerates to own an unlimited number of stations, they built the company into the world’s largest owner of radio stations; by 2000, Clear Channel owned more than 1,200.The company eventually expanded into event promotion, live music and sports management. Mr. Lowry oversaw the business, but Mr. McCombs was instrumental in seizing opportunities to expand, according to John Hogan, the company’s former chairman and chief executive.“He was steadfast in support of the notion that when the telecommunications regulations changed in 1996, we had to move quickly and aggressively, and that those who were slow and hesitant would get left behind,” Mr. Hogan said in an interview for this obituary.Though the company was often criticized for homogenizing radio programming in a way that eliminated much of the local flavor of independent radio stations, the formula was extremely profitable. When Mr. Lowry began to see signs that the internet would disrupt its well-oiled strategy, he and Mr. McCombs sold the company in 2006 for $17.9 billion to a private equity group led by Bain Capital Partners and Thomas H. Lee Partners. As part of the deal, the group agreed to take on more than $8 billion in the company’s debt.The timing was perfect for selling. Clear Channel’s fortunes plunged almost immediately. In 2014, the company split into Clear Channel Outdoor, for the billboard business, and iHeartMedia, for the radio stations and other media properties.Red McCombs, left, arrived in Denver in 1983 after buying the Denver Nuggets basketball team. At right was Carl Scheer, the team’s president and general manager.Duane Howell/The Denver Post, via Getty ImagesBilly Joe McCombs was born in the tiny West Texas town of Spur on Oct. 19, 1927. His father, Willie Nathan McCombs, was a sharecropper and later an auto mechanic. His mother, Gladys McCombs, came from a family of farmers.Billy, whose shock of red hair earned him the lifelong nickname “Red,” showed an entrepreneurial bent as early as age 9, when he began selling bags of peanuts to migrant cotton pickers. He was 15 when his family moved to Corpus Christi, where he became a standout high school football player, eventually winning a scholarship to Southwestern University in Georgetown, Texas. He left college to serve in the Army for two years before returning and enrolling at the University of Texas in 1948 on the G.I. Bill.But he dropped out to start a business career. He landed a job at the local Ford dealership in Corpus Christi and realized that he had found his calling. Just 22, he set a goal of selling a car a day and, by his account, managed to accomplish that feat for three years straight.In 1950, he married Charline Hamblin, who died in 2019 at 91. He is survived by their three daughters, Lynda McCombs, Marsha Shields and Connie McNab; eight grandchildren; and 11 great-grandchildren.After selling new cars for several years, Mr. McCombs realized that he could make more money selling used cars, he wrote in his autobiography, “Big Red: Memoirs of a Texas Entrepreneur and Philanthropist” (2010). New cars, he thought, were all alike, but “every used car is unique” and had a story to tell.“People like stories about the things they might be interested in buying,” he wrote.In 1957, at 29, he opened his first new car dealership, in Corpus Christi. But it sold Edsels, a Ford brand that would become synonymous with automotive failure. Though he sold many cars, he said, he knew that the brand would not survive. (The Edsel was discontinued in 1959.)“I was selling it myself and I could see the resistance,” he said. “We had to shoehorn everyone into it, and after I’d sold them to all my friends, I had nowhere to go. It was time to move on.”He moved to San Antonio in 1958 and there befriended Mr. Mays. The two soon began buying up radio stations, ultimately turning Clear Channel Communications into a behemoth. Mr. McCombs knew the power of radio and outdoor advertising from his experience with auto dealerships.He did his own radio and television commercials for 25 years, becoming a Texas celebrity along the way. He struggled for years with alcoholism and nearly died at age 48 after a serious case of hepatitis. He gave up alcohol then, and often spoke candidly about his addiction.In 2000, Mr. McCombs and his wife gave a gift of $50 million to the University of Texas business school — the single largest donation in the school’s history at the time. It was renamed the McCombs School of Business. He and his wife also donated $30 million to the university’s MD Anderson Cancer Center in Houston.Mr. McCombs was a major donor to Republican politicians, including Senator Ted Cruz of Texas and President Donald J. Trump.Of all of his business achievements, Clear Channel was his most significant, Mr. McCombs declared in his autobiography. “I would never have thought I could ever have had a chance to do something like Clear Channel,” he wrote. “That’s why I don’t really believe in long-term plans. There was no way I could have ever planned Clear Channel.” More

    More stories

    • 163 Shares169 Views

      in Golf

      13-Year-Old Boy Drove Truck That Hit Van in Texas, Killing 9, Officials Say

      by

      The fiery crash killed a golf coach and six of his players, along with the boy and a man who was traveling with him.A 13-year-old boy was behind the wheel of a pickup truck that struck a van in Texas on Tuesday night in a collision that killed nine people, including a college golf coach and six of his players, along with the boy and a man traveling with him, officials said on Thursday.Bruce Landsberg, vice chairman of the National Transportation Safety Board, said at a news conference that the truck’s left front tire was a spare that had blown out before the truck veered into the lane the golf team’s van was traveling in and struck the van head-on. It was unclear at what speeds the vehicles were traveling, but Mr. Landsberg noted that the speed limit in the area is 75 miles per hour.“It was very clearly a high-speed, head-on collision between two heavy vehicles,” he said. “There is no question about the force of impact.” Both vehicles went up in flames in the collision near Andrews, Texas, about 50 miles east of the state line with New Mexico.It was unclear why the 13-year-old boy, whose name was not released by the authorities on Thursday, was driving the truck. Henrich Siemens, 38, of Seminole County, Texas, who was also in the truck, was killed in the collision, the authorities said.The University of the Southwest identified the victims from that institution as Tyler James, 26, the coach, and the student-athletes Travis Garcia, Karisa Raines, Mauricio Sanchez, Tiago Sousa, Laci Stone and Jackson Zinn. Most of the golfers were freshmen at the university, a private, Christian institution in Hobbs, N.M., near the state line with Texas.Two golfers who were in the van, Dayton Price and Hayden Underhill, were critically injured but survived the crash, and they were undergoing medical treatment in Lubbock, Texas, on Thursday, a spokesman for the university said at a news conference.Ryan Tipton, provost of University of the Southwest, said on Thursday that both players were “making steady progress.”“One of the students is eating chicken soup,” Mr. Tipton said. “Every day it’s a game of inches. There is no indication of how long it’s going to take, but they are both stable and recovering and every day making more progress.”In Texas, 14-year-olds can begin a classroom phase of a driver’s education course, but they cannot apply for a learner’s license until they are 15, according to the Texas Department of Public Safety.In a statement on Wednesday, Gov. Greg Abbott of Texas said state officials were helping to investigate the collision.“We grieve with the loved ones of the individuals whose lives were horrifically taken too soon in this fatal vehicle crash near Andrews last night,” Mr. Abbott said.Gov. Michelle Lujan Grisham of New Mexico said on Wednesday that she was “deeply saddened” by the news.“This is a terrible, tragic accident,” she said. More

    • 75 Shares149 Views

      in Basket

      Russian Court Extends Brittney Griner’s Detention

      by

      A Russian court has extended the detention of the W.N.B.A. star Brittney Griner to May 19, the Russian news agency Tass reported on Thursday, adding tension to the most dangerous moment in U.S.-Russia relations since the 1962 Cuban missile crisis.Ms. Griner, 31, a seven-time W.N.B.A. All-Star center for the Phoenix Mercury, is being held on drug charges that could carry a sentence of up to 10 years in prison.The Russian Federal Customs Service said earlier this month that its officials had detained the American basketball player after they found vape cartridges containing hashish oil in her luggage at the Sheremetyevo airport near Moscow in February. They did not immediately release the name of Ms. Griner, who was later identified by Tass.Ms. Griner, a two-time Olympic gold medalist, is one of several W.N.B.A. players who compete on international women’s teams in the off-season to supplement paychecks that are a fraction of their counterparts’ salaries in the N.B.A. She has played for the Russian team, UMMC Ekaterinburg, since 2014.Representative Colin Allred, Democrat of Texas, told The New York Times last week that Ms. Griner, a Texas native, had been detained on Feb. 17 and that he was working with the State Department to have her released. Russian authorities have so far denied the State Department’s request for a meeting between consular officials and Ms. Griner, Mr. Allred said.American officials, including Secretary of State Antony J. Blinken, have said that certain details surrounding Ms. Griner’s detention could not be disclosed due to privacy constraints.Since she was detained, family and friends of Ms. Griner have come forward to express their shared desire to get her home safely.Ms. Griner’s wife, Cherelle T. Griner, said in an Instagram post last week, “We love you babe!” and “There are no words to express this pain.”The State Department has advised all U.S. citizens in Russia to leave the country and has warned that the U.S. Embassy in Moscow has “severe limitations” on its ability to provide assistance to Americans there. The W.N.B.A. said on Mar. 5 that all of its other players in Ukraine and Russia had left those countries. More

    • 125 Shares159 Views

      in Golf

      Jordan Spieth Had a Very Good Day at the Masters

      by

      A crowd favorite, all eyes were on Spieth as he charged up the leaderboard and put himself in contention with a confident second round.AUGUSTA, Ga. — Jordan Spieth was walking down the 17th hole at Augusta National Golf Club on Friday when a voice from the crowd lining the fairway cried out, “Welcome back!”Spieth turned his head in the direction of the sound, but it appeared as if he didn’t hear it clearly.The salute was repeated, only louder: “Welcome back!”And this time Spieth waved and looked over his shoulder with a smile and a grateful expression that seemed to say: It’s good to be back.It has been seven years since Spieth arrived at his first Masters as a 20-year-old less than three years out of high school. Back then, he played with flushed cheeks and a hop in his step that sent a jolt of youthful vitality through the typically middle-aged Masters galleries. When he took a two-shot lead through seven holes in the final round of the 2014 tournament, Spieth appeared to be on the verge of becoming the youngest major golf championship winner in 83 years.When he tied for second instead, the Augusta National fans were no less smitten. A year later, at the 2015 Masters, he became only the fifth champion to have the lead after all four rounds.On Friday, as Spieth vaulted up the Masters leaderboard with a four-under-par 68 that moved him to five under par and left him two strokes behind Justin Rose, the second-round leader, it was clear that his fans had not forsaken him. Spieth, a three-time major champion, may have not won a tournament from 2017 until last week’s Texas Valero Open, but at Augusta they have been eagerly awaiting his rebound.The number of spectators at this year’s tournament is limited, although there are still several thousand on the grounds, and the biggest throng by far on Friday was following Spieth. It did not hurt that his junior golf friend of nearly 15 years, Justin Thomas, was playing one group ahead of him, which sometimes made possible the viewing of two popular players at adjacent holes.But a round of major championship golf always has a beating heart to it, a core where the energy is focused. For nearly 25 years, if Tiger Woods was in the field, the dynamism always followed him. In Woods’s absence, at least this week, the Masters crowds are longing for the continuation of Spieth’s recent comeback, which has included several promising results in the last six weeks.Asked if he noticed the extra attention of the fans on Friday, Spieth, who is tied for fourth, made a joke about how he finished in more obscurity on Thursday. In the last group of the first round, he finished as the sun was setting.“It was such a slow round that I think people decided not only to have dinner but maybe go to bed by the time we finished,” he said with a snicker.But Spieth, 27, is modest enough not to openly acknowledge that he had a cheering, enthusiastic following. At best, he conceded: “Yeah, we had a lot of people last week, and so maybe — I mean, I didn’t feel that it was any more than yesterday.”Spieth’s appeal is no doubt tied to his past successes at a young age and an unassuming public image, but sports fans also love a comeback story, and Spieth’s fall had grown precipitous. After the 2020 Masters, which was only five months ago, his world golf ranking had dipped to No. 80. He has rallied to 38th, and it has much to do with the same things that made him a brilliant player from 2014 through 2017: his putting and short game.The crowd cheered Spieth on throughout his excellent second round.Doug Mills/The New York TimesOn Friday, Spieth’s move up the leaderboard began with a 7-foot birdie putt on the devilish 10th green that moved him to two-under for his round. He nearly birdied the 11th hole after a brilliant approach shot, then bogeyed the treacherous par-3 12th hole, which had been his nemesis in past Masters.Spieth’s tee shot at the roughly 155-yard 12th caught the upper lip of the bunker protecting the front of the green, making the shot three feet from perfect, and it trundled back in the sand. Spieth’s blast from the bunker left him a short par putt that he missed. He quickly snatched the ball from the cup and tossed it in Rae’s Creek alongside the green.Why blame the golf ball?“I was upset at the hole,” Spieth said. “If any body of water is there I’m going to throw it in the body of water and change to a new golf ball. There’s no fans out there, no kid to throw the ball to or anything like that. I don’t want to look at that golf ball anymore, so it goes into the water.”Any golfer could relate.But the setback at the 12th hole spurred Spieth, who birdied the 13th and 15th holes, both par 5s, and the daunting par-4 17th hole.Afterward, Spieth was asked if he was peaking for a major, as Woods so often did.He shook his head.“Mine feels like steady progress,” Spieth said. “I wish that it felt like everything has been leading up to peaking here, but I’m just trying to have things get 5 percent better than they were last week.”That seemed good enough for now. With a grin, he added: “There’s more good swings than there was a month ago, and there were more than there was a month before that.”For another day at the Masters, Spieth was back, and welcomed back. More