The galactic new Dallas Cowboys stadium currently under construction in Arlington has to be seen to be believed. This architectural marvel, with the world's largest flying trusses, reportedly will have a football capacity of 80,000 fans---and well over 100,000 for events. Owner Jerry Jones is building a monument for the ages, certain to attract the eyes of the world well before the 2011 Super Bowl here.

Plano-based Electronic Data Systems was a star performer of the dot.com era. Now it is in M&A play with HP, with a $14 billion deal announced this week. Is it a good deal? Shareholders got off to a nice start, the combined company will be in position to chase IBM's leadership in the lucrative tech services market, but the competitive sweet spot stands to be in the telecom market.

With IT and networking services becoming increasingly critical to telcos, the greater firepower and extended geographic reach of an HP-EDS combo will make it a valuable partner indeed.

It will be interesting to see what how the merger influences Round Rock, TX-based Dell Inc.'s run at the tech services space, as the company seeks to add B2B muscle to compensate for its flagging PC sales.

Slowing growth is also an issue for Dallas-based Trinity Industries. The largest manufacturer of railcars in the U.S. saw its order volume drop last year as the industry leveled off. Why are analysts not especially concerned? Because the company, through a subsidiary, is well-diversified across several strong-performing business lines, including inland barges, highway and concrete products and wind power towers.

Even with its stock trading below historical P/E, the 2008 outlook for Trinity is bullish. The balance sheet is rock solid, the company has an unbroken 44-year dividend payment streak, and a $200 million stock repurchase may be in store.

Best restaurant in Dallas? More details on Monday, but the hands down winner is Iron Chef Kent Rathbun’s Abacus.

Jeff Heilman

5/16/08