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In South Carolina, push for offshore drilling gaining momentum
WASHINGTON — The push to start drilling in the Atlantic Ocean is gaining momentum and dividing people along the grand coast of South Carolina, where some local leaders fear what it could mean for tourism. “If we had an event like they had in the Gulf it would be devastating for us,” said Hilton Head Mayor Drew Laughlin, referring to the April 2010 drilling rig explosion that killed 11 and gushed 200 million gallons of oil into the Gulf of Mexico. “Our beach and our environment are our signatures. Our entire economy is built on hospitality.” Myrtlebeachonline.com
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Texas could be second to Saudi Arabia in oil production
By the end of this year, Texas could become the world's second largest producer of oil behind Saudi Arabia. The state's production, driven mainly by the Eagle Ford Shale in South Texas and the Permian Basin in West Texas, will reach about 3.4 million barrels per day, propelling it past Iraq and Iran for the world's No. 2 spot, said Greg Leveille, manager at ConocoPhillips for technology program-unconventional reservoirs. Houston Chronicle
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Removing coal ash from all 14 Duke Energy sites could cost $10 billion
Duke Energy’s top North Carolina executive told state lawmakers Tuesday that digging up coal ash from disposal sites across the state and trucking the industrial waste to modern landfills, as critics are demanding, could cost as much as $10 billion. A cheaper option, which leaves the coal ash in place at most sites, would cost at least $2 billion. Charlotte Observer
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US Manufacturing Output And Orders Accelerate
Markit's preliminary U.S. manufacturing PMI survey is out. The headline index slipped to 55.4 in April from 55.5 in March. Economists had estimated the number would climb to 56.0. Any reading above 50 signals growth, which means the numbers are still strong. Here are the key points via Markit: Business Insider
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Texas expected to outproduce all but one of the OPEC nations this year
Benefiting from the booming Eagle Ford Shale and Permian Basin, Texas likely will best the oil output of every OPEC country but Saudi Arabia by year-end, says a top exploration official at ConocoPhillips, a key acreage holder in both of those oil-and-gas formations. Dallas Business Journal
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West, Texas Fertilizer Warehouse Explosion Was Preventable, Investigators Find
DALLAS-- A deadly 2013 fertilizer warehouse explosion in Texas that claimed at least 14 lives could have been prevented, U.S. safety investigators said on Tuesday. Between 40 and 60 tons of ammonium nitrate exploded 22 minutes after a fire broke out at the West Fertilizer Co warehouse on April 17, 2013, leveling a neighborhood in the town of West, 70 miles southwest of Dallas. Huffington Post
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Halliburton's shares rise one year after paying billion dollar Gulf Coast oil spill fine
Shares of oil contractor Halliburton Co. are at an all-time high a year after the firm paid heavy fines related to the 2010 Deepwater Horizon disaster, the Chicago Tribune reports. Halliburton’s shares rose five percent after the company forecast a 25 percent jump in earnings in the upcoming quarter, according to the report. AL.com
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Mississippi Gulf Coast casino revenues continue to swell as Poarch tribe seeks Florida casino
As the Poarch Band of Creek Indians seek to build a Las Vegas-style casino just over the Florida border, Mississippi’s Gulf Coast casinos continue to rake in the dough, according to a report. AL.com
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Haslam: UAW decision could restart talks with VW
Tennessee Gov. Bill Haslam said the United Auto Workers's retreat on appealing the failed union vote at the Volkswagen plant should "help things move along in Chattanooga." He said he hopes to restart talks with Volkswagen soon for the first time since he last met with company executives in January. "I look forward now to the chance to sit down with Volkswagen and have face-to-face conversation and see if we can get another vehicle to be built in Chattanooga," Haslam said. "They haven't come back to us for sure and said, 'We want to build a car there,' so anything else is just speculation." The Tennessean
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UAW drops appeal to NLRB on Chattanooga union vote; talk turns to VW incentives
Assembly of a new vehicle at Volkswagen's Chattanooga plant is now more likely after the United Auto Workers backed off Monday on its appeal of the factory's union vote, an expert says. "Now, VW can plan," said Karl Brauer, a Kelley Blue Book senior analyst, adding that the company couldn't figure production costs on a new sport utility vehicle with uncertainty over the factory's union or nonunion status. The UAW abruptly pulled its appeal for a revote, saying just an hour before a National Labor Relations Board hearing was to begin in Chattanooga that the agency has a "historically dysfunctional and complex process" that could drag on for months or years. Chattanooga Times Free Press
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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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