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Atlanta-based SunTrust creating 100 new jobs in Charlotte
SunTrust Banks is creating 100 jobs at new loan sales center in Charlotte, the bank and the Charlotte Chamber announced Wednesday. The office, which will underwrite and process mortgage loans, has about 40 staff already at the LakePointe Office Park near the airport, but will expand by 60 in the next three months. “The loan center is indicative of SunTrust’s commitment to the Charlotte market and complements our retail presence in the region,” said regional president William H. Peele said in a statement. “Charlotte is a dynamic, thriving metropolitan area, and we plan to roll up our sleeves and increase our involvement.” Charlotte Observer
Submitted 2 years 177 days ago

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Lenovo bucks trend with decision to manufacture in U.S.
MORRISVILLE Lenovo is portraying its relatively modest plans to manufacture personal computers in Guilford County – creating 115 jobs and investing $2 million – as a first step that could lead to much more. But even such a small manufacturing footprint represents a gamble for the Chinese-based company given that virtually all of the PCs sold in this country, including those made by U.S. companies such as Hewlett Packard and Dell, are now made elsewhere. “Lenovo is kind of pushing the envelope here in terms of bringing manufacturing back to the U.S.,” said technology analyst Rob Enderle of The Enderle Group. Charlotte Observer
Submitted 2 years 177 days ago

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Mississippi Choctaws celebrate opening of plant
KemPosits and the Mississippi Band of Choctaw Indians will celebrate the opening Thursday of the newest enterprise on the reservation. The tribe used a $300,000 grant from Central Electric Power Association to renovate KemPosits, a manufacturing company that has located in the Choctaw TechParc. The company uses lightweight resin transfer methods to produce products such as a walk-in bathtub for elderly and disabled individuals. KemPosits is bring 80 to 100 new jobs to the area. Clarion-Ledger
Submitted 2 years 177 days ago

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Rumors about BP fine settlement talks raise ire
Rumored settlement negotiations between the U.S. Justice Department and BP are raising concerns that millions of anticipated dollars from the recently passed RESTORE Act could be diverted from Escambia and Santa Rosa counties. While no one is officially confirming that RESTORE Act fines are on the chopping block, a number of state and local officials swiftly reacted to various Gulf Coast media reports that surfaced on Monday and Tuesday. Florida Sen. Bill Nelson wrote President Barack Obama, calling any such move “an injustice to Gulf Coast communities. I urge you to hold BP accountable for the harm it has caused and send the bulk of the fines to the Gulf as directed by the RESTORE Act,” Nelson’s letter says. Pensacola News-Journal
Submitted 2 years 177 days ago

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Tampa-Cuba air service had great first summer
TAMPA -- One year after launching charter air service between Tampa International Airport and Cuba, the flights have met expectations — and ridership is poised to grow in the coming year. Next month, a travel service in Pinellas County will step up its program for bookings under a U.S. to Cuba travel program called People-to-People that was launched in April 2011 to allow U.S. citizens with educational interests in Cuba to visit. That program could raise the profile of Tampa-Cuba flights. Additional Tampa-area travel service providers are preparing to participate in the program, but how many travelers might be drawn to it remains unknown. Tampa Tribune
Submitted 2 years 177 days ago

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Duke Energy customers face $1 billion-plus tab whether nuclear plant is fixed or not
Duke Energy faces a potentially $3 billion decision on whether to fix its busted Crystal River nuclear plant. Regardless of their choice, however, customers will still get stuck paying for the billion-dollar-plus blunder. If Duke shuts down the plant, customers will have to pay at least $1.6 billion to build another power source and buy alternate energy. If Duke fixes the plant, customers will be on the hook for buying more than $1 billion in alternate power even if they escape paying repair costs. Tampa Bay Times
Submitted 2 years 177 days ago

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Modern Alamo Battle Over Plan to Display Letter
FORT WORTH — Millions of Texans have read the “Victory or Death” letter written at the Alamo more than 170 years ago. But only a small number of them have ever laid eyes on the original — a brief plea for reinforcements written by Lt. Col. William Barret Travis on Feb. 24, 1836, as he and his outnumbered men faced the Mexican Army. Whether it ever returns to the Alamo is now a hotly debated issue. The letter has become one of the most revered documents in Texas history, and one of its phrases — “Victory or Death,” which Colonel Travis underlined three times — has endured as an unofficial Texas slogan, turning up on flags and, occasionally, in the speeches of politicians, including one that Gov. Rick Perry gave last year as he campaigned for president. The document is kept in a secured storage area at the state archives building in Austin, off limits to the public. It has been publicly displayed only seven times since the early 1900s. Bill O’Neal, 70, the official state historian, has never seen the original. The New York Times
Submitted 2 years 177 days ago

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Alligator ‘parties’ shut down by Florida wildlife authorities
MADEIRA BEACH -- The Alligator Attraction, which features alligators and other wildlife, will no longer be able to take its alligators into residential swimming pools for "gator parties," the Florida Fish and Wildlife Conservation Commission said. Alligator Attraction was in the news last month when local news outlets, Good Morning America and the New York Daily News reported about the gator parties, in which workers at the Madeira Beach facility take alligators smaller than four feet long to pool parties around the Tampa Bay area and allow guests to swim with them, hold them and snap photos. That's when the phones started ringing at the wildlife commission. At least 10 complaints were filed by people worried that someone may get hurt. Miami Herald
Submitted 2 years 177 days ago

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Digital entertainment firm moves to Gwinnett County, Ga.
A digital entertainment company is moving its headquarters to Gwinnett County in a $5 million deal that has created about 25 jobs. Sports Challenge Network said this week it expects to double the size of the staff at its Dacula base within the next three years. The company, which was based in California’s Silicon Valley, creates social and mobile applications to help players connect and compete. Company founder Timothy Menard said he was drawn to Gwinnett County in part by its pool of talented engineers. Atlanta Journal-Constitution
Submitted 2 years 177 days ago

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Georgia factory index rises
ATLANTA — Activity at Georgia manufacturing plants picked up slightly in September, according to a report released Monday by Kennesaw State University. KSU’s Econometric Center’s Purchasing Manager’s Index rose 1.6 points to 52.0, just above the national index of 51.5, which also jumped up two ticks. Generally, economists consider a reading above 50 as indicating growth in the overall economy. Managers who buy supplies for their factories complete the monthly survey, which asks about various aspects of their business. More managers reported an increase in their orders for new business compared to the number who said orders were off. Savannah Morning News
Submitted 2 years 177 days ago

 

 

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Features & Opinion

 Top Ten Places in the South for Relocating California Companies

Just look around at what's happening in the aerospace industry in the American South. Aerospace is really making a move to become one of the region's top two industry sectors. It’s not there yet, but if large project counts are any indication, aerospace may soon challenge the petrochemicals sector as the second largest industry in the region. Never before has the aerospace industry been so important to the South's economy. Oh, what's the No. 1 industry sector in the South? Automotive is, of course. That industry hasn't been challenged much for 25 years in this region, or since we’ve been counting.

 

 Randle Report - Business News in the South

 FEATURE  
By Stacy Randle
Demographer Wendell Cox recently analyzed the largest gains in holders of bachelor's and post-graduate degrees between 2007 and 2012 in the 51 metro regions in the U.S. of 1 million residents or more. The results were published in Forbes magazine and the South dominated the ranking.
 

 Business News in the South - Randle Report

FEATURE     
This is our annual "Made in the South" issue and it's timely because there is a new player in the South's manufacturing universe. For almost two decades, economic developers and politicos in the South and the U.S. have been chasing Chinese projects with little or nothing to show. Want proof we've been chasing ghosts in China for years? Okay, go ahead and name a Chinese brand that's made in the South? Tick. . .tick. . .tick. Give up?
 
 Nashville Mayour Karl Dean
If you have ever seen one of my presentations, then you know about the word "reshoring" and how that phenomenon has lifted the spirits of even the most skeptical Southerners regarding the future of the region's economy. After all, in the last four decades, manufacturing has suffered a bloodletting never before seen in U.S. history. The biggest factor behind the slow and long meltdown that began in the 1990s was the herd mentality to offshore manufacturing capacity to cheaper locales, primarily by U.S.-owned companies.
 


 

 

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