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Real estate website ponders Underground Atlanta’s future. Artist colony? Giant food court?
With the city of Atlanta looking to unload Underground Atlanta to private developers, Curbed.com is offering a mostly tongue-in-cheek list of possible uses that include an artist colony, a giant food court, or perhaps a Spanx Museum. Atlanta Journal Constitution
Submitted 2 years 364 days ago

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Corker: SUV decision waits on UAW appeal
As the appeal of Volkswagen's union vote extends at least into April, U.S. Sen. Bob Corker said Thursday the carmaker likely won't finalize bringing a new vehicle to the Chattanooga plant until the election dispute is settled. "We had a VW representative in our office last week. They made us aware that until the clouds disappear, a decision likely won't be made," he said after speaking to the downtown Chattanooga Rotary Club. nty Courthouse before an administrative law judge. Chattanooga Times Free Press
Submitted 3 years 2 days ago

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95% of NCAA brackets busted: Why Warren Buffet is still rich and you're not
Welcome back to an alumni-packed edition of BracketRacket, the one-stop shopping place for your offbeat NCAA tournament needs. Today, we explain why Warren Buffet is rich and you’re not, why you don’t always need a private jet to enjoy the tourney, and how a kid actor nearly stole the show. Without further ado: You’re upset. And because misery never lacks company, so are all the other geniuses who penciled Cincinnati, Ohio State and Oklahoma into the third round. According to one estimate, at least 95 percent of the 100 million or so brackets filled out all across America were busted by the time the NCAA tournament was barely 12 hours old. So just about the only guy still smiling when his head hit the pillow last night was Warren Buffet, and that’s because he won’t have to worry much longer about handing the $1 billion he stuffed under his mattress to anyone who finished the tourney with a perfect score. Greenville News
Submitted 3 years 2 days ago

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All signs point to major expansion at BMW's South Carolina factory
One of South Carolina's biggest private employers and exporters is gearing up to expand again in a move that would ripple all the way to the Charleston waterfront. Norbert Reithofer, chief executive officer of BMW AG, said Wednesday the German automaker is looking to increase production in the United States. BMW's only U.S. assembly plant is in the Upstate, where Reithofer plans to visit next week to announce an expansion of "its commitment in the USA," according to an invitation to the March 28 event. Post and Courier
Submitted 3 years 2 days ago

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Tensions over Rio Grande escalate with drought
SANTA FE, N.M. (AP) — The tension was high Thursday as top water managers from New Mexico, Colorado and Texas gathered to discuss management of the Rio Grande in the face severe drought and a legal battle that has the potential to leave farmers in the arid region without a much-needed source of water. Members of the Rio Grande Compact Commission heard from several federal experts that the river has been stretched beyond its limits, leaving little for farmers, Native American communities and endangered fish to fight over as the dry conditions persist. Houston Chronicle
Submitted 3 years 2 days ago

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DENR cites Duke Energy for illegally pumping coal-ash water into Cape Fear River
RALEIGH — Duke Energy’s pumping of two coal-ash ponds for maintenance work at its Chatham County plant – discovered last week by environmentalists and regulators – illegally put 61 million gallons of wastewater into the Cape Fear River over the past several months. The N.C. Department of Environment and Natural Resources on Thursday notified the utility the pumping violated its wastewater permit, which subjects it to fines of up to $25,000 a day. More bad news came from the closed Cape Fear Steam Station before the day was over: Late in the afternoon, Duke Energy reported finding a crack in the earthen dam on one of the site’s coal ash lagoons. Raleigh News & Observer
Submitted 3 years 2 days ago

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Bank of America, Wells, BB&T pass annual ‘stress tests’
Bank of America, Wells Fargo and 27 other major U.S. lenders would meet federal capital requirements in a hypothetical economic crisis, according to “stress test” results released Thursday. Charlotte-based Bank of America, however, posted the lowest minimum capital ratio among big banks. Charlotte Observer
Submitted 3 years 2 days ago

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MetLife touts Charlotte hiring progress, new retail hub in Ballantyne
MetLife is more than halfway toward its goal of creating 1,300 jobs in Charlotte, the company said Thursday as it held its first media tours of its new retail hub in Ballantyne. The largest life insurer in the U.S. said it has filled more than 900 jobs, of which approximately 700 have gone to local residents, since hiring began last year. Those employees are working in two new Ballantyne Corporate Park buildings whose interiors MetLife officials said are a new move for the company. Charlotte Observer
Submitted 3 years 2 days ago

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Georgia House makes permanent tax exemptions for airplane repairs
ATLANTA – Companies that repair airplanes won’t have to worry about their out-of-state customers paying sales tax on the parts if Gov. Nathan Deal signs into law a bill that passed the legislature Thursday. The Georgia House gave final passage to House Bill 933 when it agreed to changes the Senate had made on Wednesday. The bill, according to sponsor Rep. Alex Atwood, R-Brunswick, makes the tax exemption permanent. It had been due to expire in July. Several citizens’ commissions on job creation have recommended making the exemption permanent. Athens Banner-Herald
Submitted 3 years 2 days ago

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Medical device maker plans Louisville distribution center
German-owned Ottobock Healthcare LP, a medical-device manufacturer, is moving its North America logistics and distribution operations to Louisville, a project that is expected to create about 25 new jobs and involve an investment of more than $3 million. Gov. Steve Beshear announced the plans for the regional distribution center Thursday, saying, “Ottobock aims to significantly expand its North American market.” Ottobock makes prosthetics, braces, children’s wheelchairs, cushions and accessories for people with mobility difficulties. The company by late this year plans to relocate and consolidate its operations in Minneapolis and Ontario to Louisville. Louisville Courier-Journal
Submitted 3 years 2 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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