Gov. Rick Perry has replaced chairman Paul Hudson with fellow Public Utility Commission member Barry Smitherman, while keeping Hudson on the three-member panel that regulates utilities in the state. Perry appointed Smitherman to the panel in April 2004. Smitherman has nearly two decades in public banking and legal positions, andalso served as assistant district attorney in Harris County. The Bond Buyer reported in 2002 that Bank One fired Smitherman for failing to get approval before submitting an opinion piece to the Houston Chronicle. Smitherman and PUC board member Julie Parsley voted down a proposal by Hudson in 2006 designed to save millions of Texans about $17 per month on their electric bills. The plan’s legality was questionable and conveyed the wrong message to electric markets, Smitherman and Parsley said at the time.
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The week was a long-awaited reckoning with record supply, said Kim Olsan, senior fixed income portfolio manager at NewSquare Capital.
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The meeting will be held on July 23 and 24.
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Randall "Randy" Miller, Chad Miller and Jeffrey De Laveaga were charged by the SEC with creating false documents that were provided to investors in two municipal bond offerings.
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The National League of Cities rolled out its annual report showcasing the challenges facing mayors, including the end of BIL funding and a steady diet of uncertainty about the flow of future federal dollars.
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The House cuts are less severe than those proposed in President Donald Trump's 2026 budget.
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Schools and governments turn to bonds to cover payouts in the wake of a California law that temporarily lifted the statute of limitations on sex abuse claims.
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