News from HerronPartners

Over the last year residents of Austin have patented inventions including a laser-guided nail clipper for dogs and cats, an electronic fishing reel system, a fertilizer that also functions as a pesticide, and a gadget that can detect explosive chemicals with microphones--along with about 2,900 other ideas, the second-most per-capita of any metro area in the U.S.

Kiplinger's ranks Austin No.1 on 'Best Cities for Next Decade' list

Statesman Business Blog

May 26, 2010

Austin is No. 1 on the list of '10 Best Cities for the Next Decade,' according to Kiplinger's Personal Finance.

The magazine's July issue, due on newsstands June 8, profiles the cities on the list, which were selected based on cities' focus on "innovative thinking," according to a news release.

In ranking the city No.1, the magazine calls Austin "arguably the country's best crucible for small business," and writes that "Austin has spawned many companies with unique twists that have gone nationwide. The city's 200 live-music venues, lakes, parks and funky businesses all contribute to its eclectic vibe."

Two high-profile Austin Condos opening

By Francisco Vara-Orta

Austin Business Journal

June 10, 2010

Residents are moving this month into two high-profile condo projects that will shape downtown Austin's skyline, the Four Seasons Residences Austin and Austonian, which have been highly anticipated in the real estate community since construction began two years ago.

This month, residents are moving into the Four Seasons, a 32-story building spanning 435,000 square feet and with 148 luxury condominiums located at 98 San Jacinto Boulevard next to the hotel bearing the same name.

An amenities deck on the 32nd floor includes a pool and sundeck, fitness center, party room, catering kitchen and resident library. Residents will also have access to the hotel's offerings including valet parking, 24-hour concierge, in-room dining, housekeeping and daily linen service.

Read More: http://austin.bizjournals.com/austin/stories/2010/06/07/daily56.html

America's Most Recession-proof Cities

By Hibah Yousuf

CNNMoney.com

June 24, 2010

NEW YORK (CNNMoney.com) -- The "Keep Austin Weird" campaign must have worked, because the Texas capital is among the country's oddball cities that bucked the downturn.

In fact, Texas cities starred on the new list of recession-proof metro areas, with six of 21 spots, according to MetroMonitor, a quarterly report released by Brookings Institute's Metropolitan Policy Program.

U.S. Markets Reach 'Day of Reckoning'

By Gary H. London

International Property Journal

June 22, 2010

It appears that real estate markets have finally reached their day of reckoning. The consensus of economists and large portfolio investors involved in identifying trends --and investing money into assets--is that upward movement has begun. Many of the large, institutional investors attending and presenting at the Urban Land Institute's national conference in Boston last week no longer seem to be on the sidelines. Most feel that values have declined about as far as they are going to, and that this will trigger a new, more dynamic period of investments and deal making.

New Accounting Rules Ruffle the Leasing Market

By Julie Satow

New York Times

June 22, 2010

The Financial Accounting Standards Board, which sets American standards, has been working with the International Accounting Standards Board to merge its generally accepted accounting principles, or GAAP, with international standards. One major piece of the puzzle is the accounting for leases. The two boards have come up with a new standard, which will be completed next year and enacted in 2013, that will require companies to book leases as assets and liabilities on their balance sheets. There will be no grandfathering clause when the rule takes effect, so any active lease will have to be recorded on the balance sheet. Companies will record as a liability the cost of rent over the remaining term of the lease and record as an asset their right to use the space.