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Housing Starts Join U.S. Factories Topping Forecasts
Housing starts and industrial production exceeded forecasts in April, pointing to strength in the U.S. economy at the start of the second quarter. Starts rose 2.6 percent to a 717,000 annual rate from March’s revised 699,000 pace that was stronger than previously reported, Commerce Department figures showed today in Washington. Industrial production climbed 1.1 percent, the most since December 2010, the Federal Reserve said. Bloomberg
Submitted 1 years 343 days ago

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Manufacturers Regain Swagger With Rosy Earnings
Despite a recession in Europe and slower growth in China, some big U.S. industrial companies are reporting surprisingly robust results for the first quarter and sounding confident about the rest of the year, largely because they are doing well at home. "We're off to a good start this year," 3M Co.'s new chief executive, Inge Thulin, said Tuesday after the company reported a 4% rise in first-quarter net income, beating analysts' expectations for profit and margins. 3M also nudged up its full-year earnings forecast. The Wall Street Journal
Submitted 1 years 343 days ago

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The Market's New Motto—'Made in the U.S.A.'
Who says America doesn't make anything anymore? Amid continuing debt problems in Europe, worries about China and middling growth in the U.S., many investors are overlooking a resurgence in the U.S. manufacturing sector. U.S. manufacturers are more competitive with global rivals than at any time in recent memory. Energy costs and other expenses are falling, manufacturers say. And U.S. workers' pay has become more competitive with foreign wages. The Wall Street Journal
Submitted 1 years 343 days ago

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Manufacturing sector driving jobs, wages in some metro areas, report finds
The Charlotte metropolitan region shed nearly 40 percent of its manufacturing workers from 2000 to 2010, bleeding jobs faster than the national average. But the sector remains an important driver of employment and wages, a new study from the Brookings Institution found. The report, “Locating American Manufacturing: Trends in the Geography of Production,” released early Wednesday, tracked manufacturing trends over the last decade in all 366 U.S. metro areas. It found American manufacturing, overall, is centered largely in metro areas and is becoming more diversified – and more high-tech. Charlotte Observer
Submitted 1 years 343 days ago

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Manufacturing's long-term shift to South appears to be over, Brookings report finds
Electrolux's move from Canada to Memphis notwithstanding, the long-term shift of manufacturing to the South ended in 2000-2010, according to a new report that studied the geography of manufacturing in the U.S. The Brookings Institute Metropolitan Policy Program report -- "Locating American Manufacturing: Trends in the Geography of Production" -- also found that manufacturing for most metro areas, not including Memphis, falls into one of six broad categories: computers and electronics; transportation equipment; chemicals; machinery; food production; and low-wage manufacturing. Memphis Commercial Appeal
Submitted 1 years 343 days ago

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Spark in Sales of Cars and Trucks Drives U.S. Economy
Car sales that are running at the fastest pace in four years are poised to reverberate through the world’s largest economy as a spillover into production, profits and jobs for Americans may be starting. Auto purchases have exceeded a 14 million annual rate in each month this year, the strongest performance since early 2008, according to Ward’s Automotive Group. Government data show motor- vehicle output contributed half of the first quarter’s 2.2 percent economic growth. Bloomberg
Submitted 1 years 343 days ago

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Texas is tops in nation for super-commuters, with Dallas-to-Houston leading the way
Has that Frisco-to-Dallas commute got you down? Buck up, you could be headed to Houston every day for work. Plenty of your neighbors do, according to a study released earlier this year, and touted in the Dallas Business Journal today. In 2009, almost 52,000 residents of Dallas Fort Worth worked in Houston, the busiest long-distance commute in the country. And plenty others come here from distant homes, too. Of the top five super-commutes among major U.S. cities, Dallas figures as a destination for two, drawing 44,300 workers from Houston each day and 32,400 from Austin. Commuters like those coming from Houston and Austin helped make Dallas County tied for the highest percent of workers coming from distant homes in the country, 13.2 percent. The other top destination was Harris County. In all, according to 2009 figures, some 176,000 workers in Dallas County commute from from homes that are outside of the Dallas Fort Worth metropolitan area, according to the study. Dallas Morning News
Submitted 1 years 343 days ago

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Question remains for Bank of America: Are Charlotte ties fading?
As investors lobbed criticisms about soured mortgages and executive paychecks during Bank of America Corp.’s annual meeting last week, one shareholder offered a different concern. “I would like to see more skin in the game from all the senior managers,” he told Brian Moynihan, chief executive of the Charlotte-based lender. “Your predecessor Mr. Hugh McColl Jr. was a big fan of Charlotte. He believed in Charlotte. Charlotte believed in Hugh McColl. What I’d like to propose is that BOA pass a policy that all senior executives, including the CEO, make their primary residence in the city of Charlotte.” Many in the crowd applauded. Moynihan, who lives in Boston, thanked the shareholder for the comment and moved on. Charlotte Observer
Submitted 1 years 343 days ago

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Kentucky lawmakers say agreement keeps Paducah uranium plant open for another year, saves 1,200 jobs
WASHINGTON — An agreement to process depleted uranium at the Paducah Gaseous Diffusion Plant will keep the sprawling facility open for another year and preserve 1,200 jobs, Kentucky lawmakers and federal energy officials announced Tuesday. A series of arrangements involving the federal government and energy suppliers will provide a market for the uranium, Energy Secretary Steven Chu said in a statement. The Paducah plant was scheduled to close at the end of this month. The deal marks a reversal in the Obama administration’s reluctance to keep the Paducah plant running. The agreement also is a victory for Republican lawmakers Mitch McConnell, the Senate GOP leader; Sen. Rand Paul; and Rep. Ed Whitfield; all of whom appeared to be fighting long odds just months ago. Louiville Courier-Journal
Submitted 1 years 343 days ago

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Alabama Secretary of Commerce confident of ThyssenKrupp plant's future despite report
BIRMINGHAM, Alabama -- ThyssenKrupp's decision to explore the possible sale of its $5 billion Alabama steel plant doesn't threaten the future of the mill or plans for its 2,700 jobs, the state's top economic developer said today. "We are told that the company will examine three strategic options, none of which are a threat to the operation of the Calvert plant nor the staffing levels of employees needed to produce steel there," Greg Canfield, Alabama's Secretary of Commerce, said in a statement. The Birmingham News
Submitted 1 years 343 days ago

 

 

Features & Opinion

 Top Ten Places in the South for Relocating California Companies

Reshoring manufacturing capacity from primarily Asia to the South and Mexico is now a common thing to do and it's all about money. When China joined the World Trade Organization in 2001, the average manufacturing wage in China's Pearl River Delta (PRD) was about 58 cents an hour.

 Randle Report - Business News in the South

 FEATURE  
By Dr. Glen Fenter
Desperation sometimes masks itself in acceptance. Such was the case for Takelia Carter of Marion, Ark. For Carter, the mother of six school-age children in a low paying job, desperation was normative existence. This was her life in Crittenden County, Ark., deep in the Delta where unfortunately one in four families lives well below the poverty level.
 

 Business News in the South - Randle Report

FEATURE     
By Mike Randle
There are numerous factors driving the new industrial revolution in the South. And it is a revolution, as this manufacturing surge that began in 2007 continues to break records year after year in the total number of large, capital intensive projects. One factor, of course, is that reshoring of facilities back to the U.S. continues to grow each year.
 
 Nashville Mayour Karl Dean

We try to change up the categories in our annual Ten Top 10s section, but we always include the "Ten People Who Made a Difference" category. This year though, we are honoring 12 and you will learn why by reading about this group of folks who have made a difference in the South. Here is our annual list that includes executives, economic developers and politicians who have made a difference in the South's economy.


 


 

 

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