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Welcome to The Houston Newsletter!

In today’s edition:

• Johnson Development expands Candela community.

• Mario Edwards Jr. impresses Texans.

• A deep dive into the life of Robert W. Woodruff.

• And more…

Quote of the Week

“Success is no accident. It is hard work, perseverance, learning, studying, sacrifice and most of all, love of what you are doing or learning to do.” 

–Pele

Sponsored

Investors have trusted this platform with +$1bn - here’s why

Through COVID, soaring inflation, and today’s crushing interest rates, a group of enterprising investors have collectively entrusted one billion dollars from their portfolios to Masterworks’ art investing platform.

Why? Because the contemporary art Masterworks offers—from legends like Picasso and Banksy—has demonstrated a low correlation to the stock market, inflation resistance, and exceptional appreciation potential. Not to mention Masterworks has completed 23 successful exits to date, distributing over $60+ million in net proceeds to investors in those offerings.

These investors didn’t need art expertise to diversify with blue-chip art, because Masterworks does all the heavy lifting, finding artists with appreciation potential (buying <3% of works offered) and then breaking an art offering into shares for you. If Masterworks sells a piece again for a profit, investors get a return. With 3 illustrative sales, Masterworks investors have realized net annualized returns of +17.6%, +17.8%, and +21.5%.

With 65,000+ investors, offerings can sell out quickly. Luckily, you can get priority access here.

Past performance is not indicative of future returns. Investment involves risk.

Disclosures:

The content is not intended to provide legal, tax, or investment advice.

No money is being solicited or will be accepted until the offering statement for a particular offering has been qualified by the SEC. Offers may be revoked at any time. Contacting Masterworks involves no commitment or obligation.

Contemporary art data based on repeat-sales index of historical Post-War & Contemporary Art market prices from 1995 to 2023, developed by Masterworks. There are significant limitations to comparative asset class data. Indices are unmanaged and a Masterworks investor cannot invest directly in an index. 

Net proceeds distributed back represents the total liquidation proceeds distributed back to investors, net of all fees, expenses and proceeds reinvested in Masterworks offerings, of all works Masterworks has exited to date.

See important Reg A disclosures at masterworks.com/cd.

Trivia

Houston is home to one of the largest medical complexes in the world. What is it called?

A) Houston Medical Center

B) Baylor College of Medicine

C) Texas Medical Center

D) Memorial Hermann Health System

Answer to Last Week’s Trivia:

The Houston building known for its glass conservatory with tropical rainforest plants is C) Cockrell Butterfly Center.

The Best Stories Of The Week

💼 Business

Johnson Development Services to open new section of Candela community in Fort Bend County. (link)

Activist investor wants to overhaul Southwest Airlines board. (link)

🏒 Sports

Veteran Mario Edwards Jr. has been 'a revelation' for Texans. (link)

Bohls' 9 things: Texas might need casting call for running backs. (link)

🏦 Finance

CenterPoint Energy's vegetation management lags behind Texas peers. (link)

Upcoming Events

Here are some events that are happening in our city this week. There is a good mix between sports, entertainment, conferences, concerts, and more.

Sports

🏉 Houston Texans v LA Rams - Preseason
NRG Stadium, Houston, TX
Saturday, Aug 24th | 12:00 PM | (More info)

⚽ Houston Dynamo vs. Toronto FC
Shell Energy Stadium, Houston, TX
Saturday, Aug 24th | 7:30 PM | (More info)

Music & Concerts

🎵 Midrift
White Oak Music Hall - Upstairs , Houston, TX
Thursday, Aug 22nd | 7:00 PM | (More info)

🎸 Moenia - Pixel Tour USA
House of Blues Houston, Houston, TX
Friday, Aug 23rd | 7:00 PM | (More info)

Family

🎭 Family Friendly Event ~ Baby Jag ~
16927 El Camino Real, Houston, TX
Saturday, August 24th | 1:30 PM | (More info)

Image of the Week

Every week, I have a habit of making some AI art about our city.

This week, I typed in “An architecturally symmetrical Houston” and this is what I got.

Let me know what ideas you have for this. I really enjoy making these types of photos.

Houston Historical Events

1994: The opening of the George R. Brown Convention Center.

In 1994, the George R. Brown Convention Center opened its doors in downtown Houston, marking a significant milestone in the city's development as a major destination for conferences, trade shows, and large-scale events. Named after the prominent Houston entrepreneur and philanthropist George R. Brown, the convention center was designed to accommodate the growing demand for a world-class venue that could host a wide range of events. Its opening signaled Houston's commitment to expanding its role in the national and international convention circuit.

The George R. Brown Convention Center quickly became a central hub for economic activity in Houston. Its strategic location in the heart of downtown, near hotels, restaurants, and entertainment options, made it an attractive choice for event organizers. The convention center's state-of-the-art facilities and expansive exhibition space allowed Houston to attract major conventions, trade shows, and events, significantly boosting the local economy through tourism and business opportunities.

Since its opening, the George R. Brown Convention Center has played a vital role in shaping Houston's identity as a vibrant, dynamic city capable of hosting large-scale, high-profile events. It has undergone several expansions and renovations to meet the evolving needs of the industry, further solidifying its position as one of the premier convention centers in the United States. The success of the convention center has contributed to the ongoing revitalization of downtown Houston and its emergence as a leading destination for business and leisure.

Famous People From Houston

Robert W. Woodruff (1889–1985): President of The Coca-Cola Company.

Early Life and Education (1889–1912)

Robert Winship Woodruff was born on December 6, 1889, in Columbus, Georgia, into a family with strong business ties. His father, Ernest Woodruff, was a prominent businessman who later played a key role in the acquisition of The Coca-Cola Company. Robert attended the Georgia Military Academy and later studied at Emory University, although he left college early to pursue a career in business. His early experiences working in various industries provided him with a solid foundation in business management and operations.

Early Career and Rise at Coca-Cola (1913–1923)

After leaving college, Woodruff took on various jobs, including selling farm machinery and working in the automobile industry. His success in these roles caught the attention of his father, who was involved in The Coca-Cola Company. In 1923, Robert W. Woodruff was appointed as the president of Coca-Cola, a position that marked the beginning of his long and influential tenure. At the time, Coca-Cola was a regional brand, and Woodruff's leadership would transform it into a global icon. His business acumen, marketing genius, and commitment to quality were instrumental in expanding Coca-Cola's reach and establishing it as one of the most recognized brands in the world.

Connection to Houston (1924–1985)

Robert W. Woodruff's connection to Houston was primarily through his philanthropic endeavors and his relationships with prominent Houston figures. Although his business activities were centered in Atlanta, Woodruff developed close ties with the Houston community through his charitable work and support for educational institutions. He was involved in numerous philanthropic efforts that benefited the city, particularly in the areas of healthcare and education. His influence in Houston was felt through his support of initiatives that aligned with his commitment to improving society and giving back to the community.

Expansion and Globalization of Coca-Cola (1924–1950)

Under Woodruff's leadership, The Coca-Cola Company underwent significant expansion, both domestically and internationally. He introduced innovative marketing strategies, such as the use of standardized glass bottles and the creation of iconic advertising campaigns. Woodruff also focused on maintaining the quality of Coca-Cola, ensuring that the product's formula remained consistent worldwide. His efforts to establish bottling plants in various countries helped Coca-Cola become a global brand. By the mid-20th century, Coca-Cola was available in over 120 countries, and Woodruff's vision had made it a symbol of American culture and a leader in the soft drink industry.

Philanthropy and Civic Engagement (1951–1985)

In addition to his work with Coca-Cola, Robert W. Woodruff was deeply committed to philanthropy. He established the Robert W. Woodruff Foundation, which supported a wide range of causes, including healthcare, education, and the arts. His philanthropic efforts were particularly impactful in the Atlanta and Houston areas, where he funded hospitals, schools, and cultural institutions. Woodruff was known for his modesty and preferred to work behind the scenes, often giving anonymously. His contributions to society were recognized through numerous awards and honors, reflecting his deep commitment to improving the lives of others.

Legacy and Impact on Coca-Cola and Beyond (1986–Present)

Robert W. Woodruff passed away on March 7, 1985, leaving behind a legacy that continues to influence both the Coca-Cola Company and the broader business and philanthropic communities. Under his leadership, Coca-Cola became a global powerhouse, and his innovative approach to business set new standards for corporate leadership. The Robert W. Woodruff Foundation remains active, continuing his legacy of philanthropy and support for various causes. His contributions to the growth and success of Coca-Cola and his commitment to giving back to society have left an indelible mark on both the business world and the communities he served.

Key Achievements:

• Transformed Coca-Cola into a global brand, expanding its presence to over 120 countries.

• Established the Robert W. Woodruff Foundation, supporting healthcare, education, and cultural initiatives.

• Played a pivotal role in the development of modern marketing and business practices.

Summary:

Robert W. Woodruff's journey from a young businessman to the leader of one of the world's most iconic brands reflects his extraordinary vision and leadership. His connection to Houston, though primarily through his philanthropic work, demonstrated his commitment to improving society and supporting important causes. Woodruff's legacy as a pioneering business leader and philanthropist continues to inspire, ensuring his place as one of the most influential figures in American business history. His impact on Coca-Cola and his contributions to philanthropy have left a lasting legacy that endures to this day.

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-Matthew Larsen

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