Foundation Unveils Community Innovation Project


Today’s stories include a new philanthropic initiative from the ORIX Foundation aimed at social innovation, big DFW telecoms vying to buy Yahoo’s internet assets, and why Takeharu Miyama is major name in Dallas real estate. 

The Dallas-based ORIX Foundation announced that it is launching a new philanthropic initiative aimed at driving social innovation in North Texas. In a release, the foundation said that the ORIX Foundation Community Innovation Project will fund nonprofits in DFW to develop new ways to address social issues. Money for the project comes from a $3 million contribution from Dallas-based ORIX USA Corp., a diversified financial company that is the U.S. unit of the Japanese company ORIX Corp. (NYSE: IX).  Nonprofits in DFW can submit a letter of intent for consideration by July 31, the foundation said in a release.

Verizon Communications (NYSE: VZ) and Dallas-based AT&T Inc. (NYSE: T) are headed to the third and final round of bidding in the auction for Yahoo’s core internet assets. Verizon has a regional headquarters in Irving. The companies will be competing against a consortium led by Quicken Loans founder Dan Gilbert that is backed by Warren Buffett, chairman of Berkshire Hathaway. The bids reportedly were in the $3.5 billion to $5 billion range in the second round. Yahoo would like to finalize the auction by next month, sources told CNBC.

You may never have heard of Takeharu Miyama, but the Dallas real estate investor is a prominent member of the Dallas real estate community. His family owns one of the most sought-after properties in Dallas, the last viable development site next to Klyde Warren Park. D CEO Executive Editor Christine Perez profiled Miyama and his fascinating tale of coming to the U.S. from Japan in the mid-1970s and making millions in Dallas. You can read the profile here.

Photo from iStock.

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