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U.S. Manufacturing Only Has Jobs for the Skilled Few
Even with the recent strength in the U.S. manufacturing sector, labor-intensive industries won’t return to the U.S. as long as the huge labor compensation gaps persist with Asian and other developing countries. Sure, there will be niches created when quick delivery, changes in fashion and other developments require production to be close by. Bloomberg
Submitted 3 years 29 days ago

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Energy companies are not transparent enough on fracking risks, study says
Energy companies — including Exxon Mobil Corp. and BP Plc — aren’t providing shareholders enough data on efforts to curb risks from their hydraulic fracturing operations, according to a study released this afternoon. San Antonio Business Journal
Submitted 3 years 29 days ago

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Liberty Property selling off entire Jacksonville portfolio as part of $705 million deal
Liberty Property Trust is selling off its entire Jacksonville portfolio: 32 office and flex buildings totaling 2.1 million square feet, 20 acres of office land in the Southside and 120 acres of industrial land on the Westside. Jacksonville Business Journal
Submitted 3 years 29 days ago

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JLL lands $65M credit facility for Dalfen America Corp.
An investor in North Texas properties has landed a $65 million credit facility through Jones Lang LaSalle's capital market group. Dallas Business Journal
Submitted 3 years 29 days ago

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Good News On The Labor Market Front! Unemployment to Steadily Drop Over Next 6 Months
Unemployment should decline by more than 0.1 percent per month over the next six months and to fall below 6.5 percent—the Fed's unemployment threshold—by February 2014. This post discusses my monthly update of the Barnichon-Nekarda model. For an introduction to the basic concepts used in this post, read my introductory post (Full details are available here.) In September, the unemployment rate dropped to 7.2 percent—as the model correctly predicted (again!) last month—pushed down by the steady-state convergence dynamics. The decline in unemployment will continue, with a 7.1 percent jobless rate expected for October, and the outlook for the next 6 months is good: following positive readings on the job openings and layoffs fronts, the steady-state unemployment rate currently stands at 6.7percent and is expected to decline strongly over the next couple months and reach 5.9percent by March 2014, which will translate into an unemployment declining by more than 0.1 percentage points per month over the next six months. Brookings
Submitted 3 years 29 days ago

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U.S. Third-Quarter GDP Rose 2.8%
WASHINGTON—Stronger economic growth in the third quarter masked weak spending by consumers and businesses, the latest sign of a U.S. economy struggling to gain traction as the recovery entered its fifth year. Gross domestic product, the broadest measure of goods and services produced across the economy, grew at an annual rate of 2.8% in the July-through-September period, the Commerce Department said Thursday. That followed 2.5% growth in the second quarter and marked the fastest growth rate in a year. Economists expected third-quarter growth to clock in at 2%, according to a Dow Jones survey. The Wall Street Journal
Submitted 3 years 29 days ago

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Report: Tennessee shows greatest math, reading gains in nation
Tennessee claimed the title of the fastest-improving state nationwide in education gains Thursday after showing the greatest leaps in both math and reading scores among middle school students in a highly-regarded federal assessment. A celebration of state officials, state lawmakers and educators erupted inside a Mt Juliet middle school after the governor — who has taken criticism for some of his controversial education reforms — unveiled historic results from the 2013 National Assessment of Educational Progress report card. The report, sponsored by the U.S. Department of Education, found that Tennessee is one of only three public school jurisdictions — and the only state — that made both math and reading gains in the fourth and eighth grades from 2011 to 2013. The Tennessean
Submitted 3 years 29 days ago

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Duke Energy’s earnings rise after Progress merger
Charlotte-based Duke Energy has trimmed its long-term growth outlook for electricity demand in the face of a modestly rebounding economy and flat energy usage by residential customers. Third-quarter earnings released Wednesday rose from a year ago as Duke shed the costs of completing its 2012 merger with Progress Energy, but they fell short of Wall Street’s expectations. The report showed demand for electricity rising 1.7 percent for the quarter, when the effects of weather are not included, compared with the same period last year. Industrial sales accounted for much of the increase. While the number of residential customers grew nearly 1 percent, energy use per customer stayed flat. Charlotte Observer
Submitted 3 years 29 days ago

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STOCKS TANK, TWITTER SURGES, ECB SHOCKS THE MARKET: Here's What You Need To Know
There was a lot of news today. First, the scoreboard: Dow: 15,593.9, -152.9, -0.9% S&P 500: 1,747.1, -23.3, -1.3% NASDAQ: 3,857.3, -74.6, -1.9% And now the top stories: Business Insider
Submitted 3 years 30 days ago

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Kochs and Republicans launch bid to snuff out wind-energy tax incentives
A key tax incentive credited with boosting wind-energy capacity in the U.S. is due to expire in eight weeks, and fossil fuel lobbyists are working hard to blow it to oblivion. The Koch-backed conservative group Americans for Prosperity is launching an advertising campaign calling on lawmakers to allow the production tax credit (PTC) to expire on Dec. 31. Grist
Submitted 3 years 30 days ago

 

 

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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