The news that AT&T's headquarters -- and about 700 employees -- will be moving to Dallas sent shock waves through the Alamo City's business community today.
Just how the local office market will be impacted by the move, however, remains to be seen.
Early indicators are, though, that at least on that front, the news may not be bleak.
All told, AT&T owns and/or occupies some 1.5 million square feet of space in San Antonio. The bulk of that space is spread out over four buildings that the telecommunications company owns, as follows:
530 McCullough, which spans 481,589 square feet;
4119 Broadway, 364,345 square feet;
105 Auditorium Circle, 214,503 square feet; and
1010 N. St. Mary's, 419,400 square feet.
The company's corporate headquarters are presently located in leased space downtown, in the IBC Centre buildings at 175 E. Houston St. AT&T is the anchor tenant -- occupying 275,000 square feet in the 352,000-square-foot complex.
AT&T employees are scattered throughout the various properties, notes AT&T spokesman Walt Sharp. But just how much space may be vacated at those buildings as a result of the pending headquarters move has not been disclosed.
"There are no plans to close any of the buildings," says Sharp, adding that even after the move of the 700 AT&T employees, that still leaves 5,300 people in San Antonio.
That is good news for the downtown office market, say real estate officials, adding that if AT&T vacated the IBC Centre complex, it would be a major blow to a submarket that has been losing steam over the past few years.
At present, the downtown office market is reporting a vacancy rate of 19 percent, according to Kimberly S. Gatley of NAI REOC Partners.
The bad news, however: Any hopes that local officials had that the AT&T/BellSouth merger might have resulted in more downtown office space being taken off the market is all but lost now.
"AT&T's exit will not be the end for San Antonio, but we were so hopeful that the recent AT&T mergers and growth would augment our local economy to even greater heights," Gatley says, "which now looks like it won't happen here."
credited by: bizjournals.com
2008-06-29
Northwest, Delta pilots unions detail plans
Unions representing pilots at Northwest Airlines Corp. and Delta Air Lines Inc. hope to enter into a binding arbitration by the end of the year, after months of sparring over pilot seniority lists and other issues as the carriers move ahead with plans to merge.
Earlier this week, the pilots reached a tentative agreement on a joint contract that will apply to both groups when the two airlines merge. The groups also agreed on a process to hash out a merged seniority list. Atlanta-based Delta (NYSE: DAL) said that the deal, which will cover 12,000 pilots, still needs approval from rank-and-file union members.
Now, the carriers will go through a period of "good-faith discussions designed to reach a negotiated agreement," a memo from the Delta pilots union detailed, according to the Minneapolis Star Tribune.
The executive council for Delta's pilot union approved a joint pilot labor agreement Wednesday, and the Northwest (NYSE: NWA) council will vote on it Friday.
Terms of the tentative agreement would mean that Eagan, Minn.-based Northwest's pilots have pay equity with Delta pilots on the first day of the merger. It spells out a pay raise of 5 percent for Delta pilots in 2009, in addition to annual increases of 4 percent for Delta pilots through 2012. Northwest pilots would get bigger increases to bring their pay up to par with Delta's pilots.
Both groups would be awarded equity in the merged airline.
credited by: bizjournals.com
Earlier this week, the pilots reached a tentative agreement on a joint contract that will apply to both groups when the two airlines merge. The groups also agreed on a process to hash out a merged seniority list. Atlanta-based Delta (NYSE: DAL) said that the deal, which will cover 12,000 pilots, still needs approval from rank-and-file union members.
Now, the carriers will go through a period of "good-faith discussions designed to reach a negotiated agreement," a memo from the Delta pilots union detailed, according to the Minneapolis Star Tribune.
The executive council for Delta's pilot union approved a joint pilot labor agreement Wednesday, and the Northwest (NYSE: NWA) council will vote on it Friday.
Terms of the tentative agreement would mean that Eagan, Minn.-based Northwest's pilots have pay equity with Delta pilots on the first day of the merger. It spells out a pay raise of 5 percent for Delta pilots in 2009, in addition to annual increases of 4 percent for Delta pilots through 2012. Northwest pilots would get bigger increases to bring their pay up to par with Delta's pilots.
Both groups would be awarded equity in the merged airline.
credited by: bizjournals.com
Hawaiian will charge for second bag on interisland flights
Hawaiian Airlines will begin charging customers $17 for a second checked bag on interisland flights.
The new fee, announced late Friday afternoon, goes into effect for tickets purchased on or after July 8 for travel on or after July 15.
The move by Hawaiian (owned by Hawaiian Holdings; Amex: HA) follows another interisland carrier, go!, which on Wednesday announced a $25 fee for a second checked bag.
Go! is operated by Phoenix-based Mesa Air Group (Nasdaq: MESA).
Hawaiian, like go!, said the baggage charge was due to the impact of fuel prices on operating expenses.
Some Hawaiian customers will be exempt from the fee, including first-class travelers; those with child car seats, strollers and carriers; and those needing wheelchairs, walkers, canes or crutches.
credited by: bizjournals.com
The new fee, announced late Friday afternoon, goes into effect for tickets purchased on or after July 8 for travel on or after July 15.
The move by Hawaiian (owned by Hawaiian Holdings; Amex: HA) follows another interisland carrier, go!, which on Wednesday announced a $25 fee for a second checked bag.
Go! is operated by Phoenix-based Mesa Air Group (Nasdaq: MESA).
Hawaiian, like go!, said the baggage charge was due to the impact of fuel prices on operating expenses.
Some Hawaiian customers will be exempt from the fee, including first-class travelers; those with child car seats, strollers and carriers; and those needing wheelchairs, walkers, canes or crutches.
credited by: bizjournals.com
2008-05-01
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