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Texas official: “You can’t imagine the devastation"
An explosion at a fertilizer plant Wednesday night in the town of West killed an estimated five to 15 people, injured more than 150 and damaged dozens of homes and buildings, officials said. Overnight, hundreds of emergency responders descended on West — a town of about 2,800 located 20 miles north of Waco — where scores of people were sent to area hospitals and dozens of homes, apartments and a nursing home were toppled or damaged, officials said. “There is massive devastation” throughout the community, Waco police Sgt. W. Patrick Swanton said earlier in a news conference. Gov. Rick Perry declared a state of emergency in McLennan County, sending state emergency responders to help, and asked for a federal emergency declaration to help bring assistance to the victims. Austin American-Statesman
Submitted 3 years 38 days ago

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Asian nations eagerly eye cheap US natural gas
Price dominated morning discussion Wednesday at the LNG 17 conference in Houston, as interest in U.S. natural gas continues to soar worldwide. The buzz around price started when Daniel Yergin, the Pulitzer Prize-winning author and renowned expert on the energy industry, projected U.S. gas could reach Asian markets at a price of $12 per million British thermal units. Natural gas produced in the United States currently is selling at about $4 per million British thermal units. But moving, liquefying and shipping the resource to customers abroad, along with expected short-term price growth, will likely create a $12 price in Asia, Yergin said. That price would still leave U.S. liquefied natural gas much cheaper than LNG currently being bought by Japan at around $16 per million British thermal units. “That will be a price threshold that will be very significant for the industry,” Yergin said. Houston Chronicle
Submitted 3 years 38 days ago

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New Orleans is among the top cities where jobs are shifting closer to downtown, Brookings study finds
Examining how the Great Recession influenced the way jobs spread across cities and surrounding areas, the Brookings Institution on Thursday ranked New Orleans second out of 100 metropolitan areas for an increase in its share of jobs located within three miles of downtown. The Washington-based research and policy group found a 1.8 percent uptick in the concentration of jobs close to the Central Business District in New Orleans from 2007 to 2010, tying Louisville, Ky., but falling short of the 2.5 percent increase in Chattanooga, Tenn. The New Orleans job centralization rose from 29.8 percent to 31.6 percent of all the jobs in a 35-mile radius. While the percentages do not necessarily mean downtowns gained jobs -- they just didn't lose as many as outlying locations -- New Orleans was one of only four metropolitan areas the study cited for achieving an absolute rise in the number of jobs at the urban core, from 129,393 in 2007 to 134,154 in 2010. Times-Picayune
Submitted 3 years 38 days ago

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Kentucky Derby, Oaks security tightened
Churchill Downs on Thursday said it was tightening security for this year’s Kentucky Derby and Oaks, banning coolers, video equipment and large purses, among other items. Monday’s bombings at the Boston Marathon prompted the review, track officials said in announcing the new policies. Banned items from Churchill Downs on May 3 and 4: • Coolers (Styrofoam coolers, ice available at infield purchase points) • Cans, (any size or type), glass bottles or containers • Pop up or patron tents – no poles or stakes of any kind • Camcorders • Cameras with detachable lenses, or equipped with a lens that is 6” or longer • Tripods • Purses larger than 12’ in any dimension. Louisville Courier-Journal
Submitted 3 years 38 days ago

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Georgia’s jobless rate falls to 8.4 percent in March
Georgia’s unemployment rate fell to 8.4 percent in March from 8.6 percent in February — the lowest level since December 2008 — as employers increased hiring and laid off fewer workers, the state labor department said Thursday. “Georgia employers created 23,700 jobs last month, which is one of the best job growth numbers we’ve had in March for almost a decade,” state Labor Commissioner Mark Butler said in a statement. “The growth was in several industries, led by leisure and hospitality, and professional and business services.” Additional growth came in trade, transportation and warehousing — 4,400 jobs; construction — 2,300; and local government — 1,800. AJC.com
Submitted 3 years 38 days ago

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It’s China by a Mile in the Global Green Energy Marathon
China is getting accolades for its green energy policies that are attracting private investors. The Asian nation, in fact, is once again the global leader in terms of the amount of money it is raising from private interests. The Pew Charitable Trusts and Bloomberg New Energy Finance, which makes such evaluations each year, say that China is raising capital to the tune of $65.1 billion in 2012. That’s money that is flowing into everything from hydro-electric dams to solar technologies to wind energy plants. China, which has been criticized because because it so dependent on coal, has a goal of generating 15 percent of its power from green energy by 2020. That target will be 30 percent by 2050. It is also working to cut its energy consumption by using new conservation tools. Within 15 years, the country says that it must attract more than $200 billion. Energybiz.com
Submitted 3 years 38 days ago

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Banking Sector Is Slowly Replacing Big Oil As The Most Hated Industry In America
Once upon a time, not long ago, oil companies were so despised that they had to downplay their massive profits in order to keep the angry mobs away. The banking industry is now learning how that feels. Huffington Post
Submitted 3 years 38 days ago

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STOCKS FALL AGAIN: Here's What You Need To Know
The stock market sell-off ist starting to sting. First the scoreboard: Dow: 14,537, -81.4 pts, -0.5% S&P 500: 1,541, -10.4 pts, -0.6% NASDAQ: 3,166, -38.3 pts, -1.2% And now the top stories: Business Insider
Submitted 3 years 38 days ago

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Brookings: Recession slows ‘job sprawl’
Most of metro Atlanta’s businesses are outside Atlanta’s central core, following the growing trend of job sprawl in metropolitan areas throughout the country, liberal think tank Brookings Institution reported Thursday. Atlanta Business Chronicle
Submitted 3 years 38 days ago

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FAA Finalizes Sequester Plans for Airports
The FAA has warned airlines that air-traffic controller furloughs scheduled to start Sunday as part of broad federal spending cuts could cause delays affecting nearly 7,000 flights a day in and out of more than a dozen major U.S. airports. Wall Street Journal
Submitted 3 years 38 days ago

 

 

Features & Opinion

 Top Ten Places in the South for Relocating California Companies

Urban areas have all kinds of assets that are easy to spot. They have the population, so the labor shed is not usually an issue. Urban areas are also connected by better roads, rail and air service and many have river and deep water ports. Usually Internet access and other forms of communication are more efficient in urban areas. And you have a larger array of quality of life options to choose from, such as the cultural assets found in metropolitan areas.
 

 Randle Report - Business News in the South

 FEATURE  
By Mike Randle
The belief that "80 percent of all new jobs come from existing business and industry" is an out-of-date, old-fashioned fabrication. I have no idea how it started, where it started, or who said it first, but there are professionals in economic development as well as leaders of government in the South who actually believe that each year, 80 percent (why 80 percent I don't know, either) of all new jobs are created by existing business and industry. I hear it all the time and I just roll my eyes. There is nothing static in economic development but this: 100 percent of all lost jobs come from existing business and industry. That, and of course 100 percent of the time site consultants never pay for a meal.
 

 Business News in the South - Randle Report

FEATURE     
According to Chinese theory, yin is a passive, negative force and yang is an active, positive force. Chinese philosophers believe that the opposing forces aren't really contradictory. Instead, they are interconnected and complimentary, interacting to create a balance in one's life. 
 
 Nashville Mayour Karl Dean
The Annie E. Casey Foundation's KIDS COUNT report was released in the summer quarter. I try to read it every time it comes out since I find it to be the best indicator of child poverty, a statistic everyone involved in economic development needs to be aware of. The Annie E. Casey Foundation is a charity that supports disadvantaged children. 
 


 

 

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