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Toyota puts its 2M SF California headquarters campus on the market
Toyota Motor North America Inc. has put its Los Angeles-area headquarters campus — which spans 2 million square feet on 110 acres in Torrance and Los Angeles — on the market, as part of its relocation to Plano. The Japanese automaker recently hired JLL to market the California campus. With the campus sitting near the airport and two major ports, JLL Managing Director Jeff Adkison said he expects to see significant interest from buyers attracted by proximity to the Ports of Long Beach and Los Angeles, as well as a high-educated workforce and a desirable southern California lifestyle. Dallas Business Journal
Submitted 15 hours ago

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HISTORY: Alabama auto production races past 10 million mark
For one thing, workers at the Alabama facilities of Mercedes-Benz, Honda and Hyundai combined to build more than 1 million vehicles for the second consecutive year and reached a new record high output. But another major milestone was achieved last year without notice. Alabama’s cumulative auto production — which started when Mercedes began producing the M-Class SUV in Tuscaloosa County 20 years ago this week – surpassed the 10 million mark. Yellowhammernews.com
Submitted 15 hours ago

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Why this major electric utility in Florida is turning up the heat on solar power
Florida Power & Light Co. plans to build new solar power plants at eight locations around the state by early 2018. The company made the announcement Monday at a commissioning ceremony for the FPL Manatee Solar Energy Center, one of its most recently completed solar power plants. FPL and its parent company, NextEra Energy (NYSE: NEE), have been aggressive about pursuing alternative energy projects. NextEra Energy Resources added about 2,500 megawatts of wind and solar projects in 2016, which it believes was the most wind and solar projects ever added in North America in one year by one company, an earnings release said. Tampa Bay Business Journal
Submitted 15 hours ago

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Ford pushes forward with Mexican plants despite Trump
Ford Motor Co. (NYSE: F) is moving ahead with plans to build two auto parts plants in Mexico despite getting previous grief from U.S. President Donald Trump over another production plant, according to reports by AFP and other outlets. Ford’s stock was up 0.3 percent today closing at $12.58 per share, according Yahoo Finance. Ford's stock is up 3.7 percent so far this year, according to Google Finance. “The plants, in the central state of Guanajuato and the northern city of Chihuahua, will make engines and transmissions,” according to the AFP report. Ford ditched plans for a $1.6 billion small-car production plant after getting grief from Trump. San Antonio Business Journal
Submitted 15 hours ago

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Here's how the airlines did in on-time performance in January
The perennial on-time airline did it again in January, as Delta Air Lines posted a 77.5 percent on-time arrival result, according to airline data provider OAG. The U.S. Department of Transportation considers a flight to have arrived on time if it reaches the gate within 14 minutes of its scheduled arrival time. The surprise for the month was American Airlines. After lagging in third or fourth place among the four largest domestic carriers, the world's largest airline moved into second place in on-time arrival performance behind Delta (NYSE: DAL), the second-largest carrier at Orlando International Airport. Orlando Business Journal
Submitted 16 hours ago

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Best-in-the-nation job growth entices developer to Williamson County, Tenn.
Chris Finlay's company has invested in Nashville apartment complexes for a number of years, and he's now joining the herd of out-of-state developers angling to seize their share of this region's growth. Middleburg Real Estate Partners, where Finlay is managing partner, is embarking on a 328-unit apartment complex with 31 for-sale town homes on land the company bought this month for $9 million. Finlay tells me he expects construction to start within the next couple of months or so, with prep work beginning in a couple of weeks. Nashville Business Journal
Submitted 16 hours ago

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Trump's Mar-a-Lago visits impacting small airport businesses, report says
President Donald Trump's frequent visits to Mar-a-Lago club in Palm Beach is costing nearby businesses money, reports say. The Secret Service on Friday closed the Lantana Airport for the third straight weekend because of Trump's return to his private club. The Sun Sentinel reported that security measures tied to his visit also shuttered a banner-flying company, maintenance companies and about two dozen other businesses tied to the airport, which is about six miles away from Mar-a-Lago. South Florida Business Journal
Submitted 16 hours ago

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The oldest Van Winkle bourbon ever to be released is coming this spring
A 25-year-old bottling of Old Rip Van Winkle bourbon is coming soon. Buffalo Trace Distillery, which makes Old Rip Van Winkle, Pappy Van Winkle and other bourbons, will release 710 bottles of this product in April, according to a news release. This bourbon will be two years older than the hard-to-come-by Pappy Van Winkle 23-year-old bourbon that often gets bourbon fans blood pumping. Louisville Business First
Submitted 16 hours ago

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Houston named a 'risky bet' for office investors
A report from Silicon Valley-based Ten-X LLC, an online real estate marketplace, has dubbed Houston the No. 1 "sell" market in the nation. The report ranked the top U.S. markets in terms of whether office investors should buy or sell assets. Houston is among Cleveland, suburban Maryland, Memphis and Milwaukee as cities that are being "undermined by weakening labor markets" that's slimmed down office space demand and office absorption rates, according to the report. Houston Business Journal
Submitted 16 hours ago

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Atlanta Fed CEO: Time for regulations to differentiate between big, small banks
Federal Reserve Bank of Atlanta President and CEO Dennis Lockhart thinks it is now an “appropriate” time to loosen banking regulations. Lockhart, who plans to step down Feb. 28, told Bloomberg’s Kathleen Hays on “Bloomberg Markets” it’s time to ease banking regulations because it’s been eight years since the U.S. economy rebounded from the Great Recession and economic conditions are similar to what they were pre-recession. Atlanta Business Chronicle
Submitted 17 hours ago

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Features & Opinion

 Randle Report - Business News in the South

For those who still languish over "losing to China" or believe that the economy is still in recession, wake up and smell the data. Economic development in the South was about as good as it gets in calendar year 2015 according to the data. And as for China, borrowing a quote from the late football coach Bear Bryant that he made in the half-time locker room down 15-0 to Georgia Tech in 1960, "We got 'em right where we want 'em." For those of you who don't know the rich history of Alabama Crimson Tide football, Bama scored all of its 16 points in the fourth quarter, kicking a field goal on the last play of the game to beat Tech 16-15.
 

 Randle Report - Business News in the South

 FEATURE  
By Mike Randle
Today, factories in the U.S. make twice as much product as they did in 1984. And they are doing it with one-third of the manufacturing workforce. In fact, the output of durable goods in 2015 was the highest in the nation's history. So, we do have a strong manufacturing base, at least in the South, much of the Midwest and parts of the West, and it is getting stronger because on a cost-basis, we can compete with any major manufacturing nation in the world.  
 

 Randle Report - Business News in the South

FEATURE     
The argument for or against a minimum wage hike continues between the reds and the blues, as well as within the economic development community in the South. Should we stay the course with a minimum wage under $8 an hour to better compete with Mexico, the South's biggest competitor for jobs, or set a minimum wage just over $10 an hour, a wage floor most centrists support? That $10 per hour is, according to the MIT Living Wage Calculator, about right in most states in the South for one adult to be able to cover basic expenses plus all relevant taxes.
 
 Randle Report - Business News in the South
Recent data from the Computing Technology Industry Association (Comp TIA) showed that the technology industry is one of the fastest growing job generators in the South and the nation. The report also indicated that technology job compensation is growing faster than any other sector.
 


 

 

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