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Good morning and happy Saturday. Did you know that Texas is the only state with its own Exchange-Traded Fund (ETF)?
Texas Capital Bank launched TXS earlier this summer. The fund is composed of publicly listed companies with headquarters in Texas. On Thursday, Gov. Abbott joined Texas Capital Bank to ring the Closing Bell at the New York Stock Exchange this week to celebrate the listing of the fund. Has your state done that?
And a big thanks to 817biz for the shout out this week! Check them out. The best Tarrant County business newsletter around.
Quote of the Week
“I will fight this as long as it takes.”
Theme of the Week: ‘Twas the Night Before 88(3)
What’s 88(3)?
The Texas Legislature is constitutionally required to convene every other year in odd-numbered years. Those Regular Sessions are all numbered. The current number is 88 (s/o Michael Irvin), i.e. it was the 88th time the Legislature had convened.
The math is simple. Multiply 88 by 2 and you get 176. Subtract 176 from the current year 2023 and you’re back to the year 1847.
Well, wait as second. Texas became a state in 1845. Shouldn’t we be at 89?