The Executive Committee of the Board of Directors for the Greater Beaumont Chamber of Commerce met on Tuesday morning for their monthly meeting. We reviewed the confidential board of directors survey done annually to get input. We also discussed the American Airlines minimum revenue guarantee.

Progress on raising funds for the minimum revenue guarantee continued throughout the week. A conference call has been scheduled with American Airlines representatives for late Monday afternoon to further negotiate a final agreement.  Southeast Texans hearing news about cancelled flights and layoffs from American Airlines  need to understand the company has 88,000 employees and operate 900 or more flights per day. They are in a dispute with their pilots with actions on both sides to publicize their positions. Like all labor disputes, we expect an ending and by the time we get to February 2013, we expect the company will be moving forward with everyone working together. We need to remember the negative consequences of not having any air service as a challenge we must overcome. Flights to DFW with the nation's third largest airline carrier will be a win-win for the company and for Southeast Texas.

The Long Range Planning Division led by Tim Sudela met on Tuesday to develop their program of work for 2012-2013.

Charlie Foxworth, Nathan Cross, and Chuck Kalkbrenner, the ad hoc committee appointed to evaluate the relocation of the chamber offices to the proposed Innovation and Commercialization Center at Lamar, had their initial meeting with Greg Lassen, CFO with Lamar University on Tuesday. The $9 million center to be built at the entrance to the university will be a focal point for regional economic development. The chamber would be the anchor tenant to provide volunteer, staff, and administrative resources for the incubation of new technology-based companies. The initial meeting was to share visions and understand expectations. Further meetings will be scheduled.  No decision has been made and the recommendation of the committee will be presented to the board of directors in October.  

Jim Rich will be honored by the Sales & Marketing Executive Club as the Sales Executive of the Year at their February banquet. The honor reflects on the entire organization.

The regional economic development professionals (REDI) had their monthly meeting on Thursday. They approved a budget for 2012-2013, elected Karl Segura with Entergy as Vice Chair, and will welcome Dean Robinson as incoming chair effective October 1. The group funded four area professionals to attend the Intern National Economic Development Council Annual Meeting which will be held in Houston at the end of the month.    

If you are interested in having an exhibit table please contact Rene' at rlatiolais@bmtcoc.org. Exhibit tables are $50.

Texas Windstorm Insurance Quick Facts:

Because insurers have increased their withdrawal of their products from Coastal Counties at an exponential rate, TWIA has grown from the year 2000 to 2011, as follows:

Number of TWIA policies has increased 337%, from 76,000 to 256,000;

TWIA Insurance in force has increased under those policies 594%, from $11.9 billion to $71.7 billion;

Premiums paid by policyholders to TWIA has increased 910% , from $44.5 million to $403.7 million.