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Paul Krugman slams Wall Street for “undermining our economy and our society”
In his latest column for the New York Times, best-selling author and award-winning economist Paul Krugman argues that the financial sector of the American economy is not only outsized but that it’s hurting the economy and making Americans’ lives worse. Citing journalist Michael Lewis’ new book on high-frequency trading — which opens with a story about an expensive tunnel being drilled for fiber-optic cable to cut down the communication time between Chicago’s futures markets and the stock market in NYC by three milliseconds — Krugman argues that American public policy has become overly influenced by high finance, with inequality and economic instability as a result. “[American] society,” Krugman writes, “is devoting an ever-growing share of its resources to financial wheeling and dealing, while getting little or nothing in return.” Salon
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Here Is Why You're Not Making It In America: Your Sunday Morning Conversation
Is the United States a strong nation? There's a notion that it is, of course -- based mainly on the disruptive philosophical underpinnings upon which this country was established. But these are all really the fumes of nostalgia. What else is there? Well, we have the best fleet of aerial drone death-dealers in the world (for now). Certainly our fast-food accomplishments are second to none. And our Reality Teevee Industry remains one of the more successful and innovative welfare programs in the world, lifting individuals with no evident utility to the human race -- and who would quite likely be pushed into ditches to die in lesser nations -- into the warm embrace of the Fame Economy. So we've got that stuff going for us, which is nice. Huffington Post
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$200 million later, was TNInvestco worth the risk?
Christopher Parks launched Change Healthcare in 2007 to bring more transparency to health care, building the company with $1 million he raised from local investors. In 2010, a year after the state's TNInvestco program was created with the mission of supporting entrepreneurship and job creation by funding early-stage companies, Parks landed $5.5 million, $1.5 million of that coming from TNInvestco. His company has since raised $25 million more from local and national investors, allowing it to grow its staff to more than 70 employees with nearly 7 million people on the health care platform nationally. The Tennessean
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Louisiana stocks outperform market
Thanks to a strong comeback from Globalstar, the Covington satellite phone company, the Pelican State Portfolio, a group of Louisiana stocks tracked by The Advocate, far outperformed the stock market during the first three months of 2014. The Advocate
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Airbnb and disaster tourism in New Orleans: Antigravity Magazine
As illegal rentals become more and more a scourge on permitted bed and breakfasts and hostels in New Orleans, Antigravity Magazine takes a closer look at what kind of tourists these underground sublets attract and what marks the practice may leave on back-a-town neighborhoods farther from the lights of Bourbon Street. Times-Picayune
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Gov. Robert Bentley pledges increased small business support during Friday jobs tour through Mobile
MOBILE, Alabama – Alabama Gov. Robert Bentley told about two dozen entrepreneurs gathered at Government Plaza in Mobile late Friday afternoon that he’s making small business a priority moving forward in his administration. AL.com
Submitted yesterday

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Red Carpet Tour brings industrial site consultants to Augusta
For decades, state officials have been using the Red Carpet Tour -- and its stop at the Masters Tournament on Thursday -- as a strategy to attract new business to the state. This year, the Georgia Chamber of Commerce is trying a new approach. The tour buses aren’t filled with prospective business owners, but with site selection experts from some of the largest consulting firms in the world. The Red Carpet Tour has been coming to Augusta for 55 years. Officials cite 15,000 jobs and $3 billion in investment over those years. The tour, involving 32 industrial site selection consultants, started Wednesday with a dinner at the governor’s mansion in Atlanta. It will head to Savannah on Friday after the participants have had a day on the Augusta National for the first day of Masters competition. Augusta Chronicle
Submitted 4 days ago

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Mexico Overtakes Japan as No. 2 Car Exporter to US
MEXICO CITY -- Mexico's booming auto industry has reached a major milestone, claiming to have overtaken Japan as the second biggest car exporter to the United States in the past three months. The Latin American nation now only trails Canada, but experts say Mexico could become the top exporter to its northern neighbor as soon as 2015, a potent symbol of its growing global clout in the sector. Industry analysts had expected Mexico to surpass Japan by the end of the year, but the Mexican Automobile Industry Association (AMIA) says it has happened faster than expected. Industry Week
Submitted 4 days ago

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Atlanta Stadium for Billionaire’s Falcons Prompts Bond Fight
Home Depot Inc. co-founder Arthur Blank, having bought the Atlanta Falcons, is getting help from the city to build a $1.2 billion football stadium to replace a venue that a skeptic noted is barely older than Miley Cyrus. The billionaire said his ambition to bring another Super Bowl to town rides on replacing the Georgia Dome, which opened in 1992, with funds including $200 million in taxpayer money. Neighborhood critics say a city-adopted plan unfairly burdens residents of two predominantly black neighborhoods. Vine City and English Avenue are areas steeped in the city’s civil rights history, and where the Reverend Martin Luther King Jr. brought his family to live in 1967. Bloomberg
Submitted 4 days ago

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Texas feeling impact; power outages getting worse, study says
Americans are spending more and more time without power, according to a study by the research group Climate Central. A report released this morning by the New Jersey-based organization says the rate of major power outages increased tenfold over the last three decades. And Texans are feeling the impact. Between 2003 and 2012 the state was hit with 57 “major” outages, which are defined as impacting more than 50,000 customers. That worked out to an average of 800,000 homes or businesses a year losing their power at some point or another. Dallas Morning News
Submitted 4 days ago

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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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