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MetLife: We've created more than 1,500 Charlotte jobs
MetLife Inc. (NYSE:MET) says it has filled more than 1,500 jobs in Charlotte, exceeding a 1,386-job commitment made less than two years ago. At a celebration at its offices in Ballantyne, the insurer on Tuesday said it had exceeded the goal months ahead of schedule. The company had targeted filling all of its jobs by the end of this year. The jobs were brought to Charlotte as part of MetLife's decision to consolidate all of its North American retail insurance functions in a centralized headquarters. Charlotte's Ballantyne Corporate Park won the project, bolstered by $80 million in state and local incentives. MetLife is also creating a technology campus in Cary that will include 1,300 additional jobs. Charlotte Business Journal
Submitted 4 days ago

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Jack Lew: Here's the remedy for strong dollar pain
Treasury Secretary Jack Lew believes eliminating growth disparities between the U.S. and pockets of the global economy can remedy issues at home—including corporate headwinds from a soaring dollar. Lew noted Wednesday that despite a sluggish first quarter, he sees an American economy "in comparative terms stronger" than the rest of the world. Eliminating the performance gap through economic reforms is key to sustainability, he said. "I think to the extent that other economies around the world were stronger, it would actually help to address the disparity in currency values," Lew told CNBC in an interview from Washington, D.C., where the International Monetary Fund is holding its spring meetings this week. CNBC
Submitted 4 days ago

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What the Ale: Oklahoma is progressing in its Beer laws
Oklahoma took a huge step Wednesday when the Oklahoma State House passed both SB 424, a bill that would allow breweries to sell their own beer and SB 383, which would allow cold sales of beer in excess of 3.2 percent alcohol by weight to be sold in liquor, grocery and convenience stores. Tulsa World
Submitted 4 days ago

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Can Jobs Grow With Low Unemployment?
Will our low unemployment rate limit future job growth? It stands to reason that as we run out of unemployed people, we will no longer be able to keep adding new jobs. However, reality is more complicated. For at least a year—and perhaps for three years—after we hit “full employment,” the economy will generate additional job growth. Forbes
Submitted 4 days ago

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Big Oil Is About to Lose Control of the Auto Industry
While the U.S. pats itself on the back for the riches flowing from fracking wells, an upheaval in clean energy is quietly loosening the oil industry's grip on the automotive industry. Bloomberg
Submitted 4 days ago

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AT&T sues the FCC over net neutrality rules
AT&T Inc. (NYSE: T) just became one of the first companies to sue the Federal Communications Commission regarding its recent rules on net neutrality. Jacksonville Business Journal
Submitted 4 days ago

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What’s boosting U.S. manufacturing? Networked innovation.
The research team examined more than 6,000 U.S. manufacturers and service-sector firms between 2007 and 2009 regarding the extent to which innovators relied on external sources of invention. They found that 18% of manufacturing firms had innovated by introducing a new product; of these, almost half (49%) reported that the idea behind their most important new product had come from outside the company –through customers, suppliers, or technology specialists. Using a statistical model, the authors conclude that without outsiders providing the stimulus for innovation, the share of innovating firms in the U.S. manufacturing sector would drop from 18% to 10%. Brookings.edu
Submitted 4 days ago

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These 10 universities control a third of the money in higher education
The 10 richest universities in the US control a significant amount of the wealth in higher education, according to a new report from Moody's. Business Insider
Submitted 4 days ago

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Corporate bankruptcies are on the rise in America
“Come down to Houston,” William Snyder, leader of the Deloitte Corporate Restructuring Group, told Reuters. “You’ll see there is just a stream of consultants and bankruptcy attorneys running around this town.” Business Insider
Submitted 4 days ago

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Meet the Opposition to Texas High-Speed Rail
Turns out you don't need to rely on public money to be hated as a U.S. high-speed rail project. That much is becoming clear from the battering being given to a big Texas bullet train plan that's privately funded. A quick recap: Texas Central Railway, a private firm, is pushing a very promising proposal to link Dallas and Houston with a Japanese-style high-speed train capable of doing the trip at 200 mph. By relying on investors rather than taxpayers, the plan seemed poised to avoid a lot of the fiscal (slash ideological) squabbles that have plagued its federally-funded counterparts in California, Florida, Ohio, and Wisconsin. Citylab.com
Submitted 4 days ago

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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 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     
After I finished the cover story for this issue, I read an interesting article by economist Paul Krugman, the op-ed columnist for the New York Times, titled, "Partying like it’s 1995." Generally I side with Krugman, even though I am a journalist, not an economist. Occasionally, though, I read some of his stuff and ask myself, "What planet did Krugman come from?" Like when he predicted a shift of automotive assembly to Canada after Toyota announced a new plant in Woodstock, Ontario in 2005 because of "free healthcare," among other benefits. That Toyota deal was the last major automotive assembly plant announced in Canada and I predict it will be the very last one for the Canadians.
 
 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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