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Toyota's headquarter move to Plano, Texas could draw more companies
PLANO — Toyota's arrival to North Texas could spur a larger growth than just its two-million square feet of office space. Jim Lentz, the Toyota North America CEO, says the campus will be built on nearly 100 acres. While much of it's dirt now, it is set to be a sprawling campus by 2017. "There's going to be a lot of collaborative space here, and I don't mean conference rooms because that's yesterday," Lentz said. There has also been talk of partner companies with intentions of moving to be closer to the automaker giant. Shreveport Times
Submitted 4 days ago

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In Montgomery, Hyundai rolls out 3 millionth car
It took Hyundai four and a half years to build their first million cars in Montgomery. Just over five years later, they've hit 3 million. Workers and dignitaries cheered Tuesday as that vehicle, a silver 2015 Hyundai Sonata, rolled down a red carpet at the end of the assembly line. Some danced along as Jefferson Davis High School's drum corps pounded out a rhythm that echoed through the plant during the brief ceremony. Hyundai Motor Manufacturing Alabama kept it short because the event meant shutting down the production line, something that doesn't happen often at the plant. Montgomery Advertiser
Submitted 4 days ago

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Nissan chairman: We're paying big bucks to endorse Tennessee, not just Titans
On Thursday, Nissan officially announced its new naming-rights deal for the Tennessee Titans' NFL stadium. By year's end, Nissan will begin making the second generation of its full-size pickup truck, named the Titan. Nissan also is the presenting sponsor of college football's coveted Heisman Trophy, which most recently was awarded to Marcus Mariota — who the Titans drafted to their team this spring. "It's like a dream. It's impossible to make it any better," said Jose Munoz, chairman of Nissan North America Inc. Nashville Business Journal
Submitted 4 days ago

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Watts Bar is first nuclear plant to meet post-Fukushima upgrade requirements
The Watts Bar Nuclear Plant near Spring City, Tenn., has become the first nuclear power plant in America to gain regulatory approval for meeting new equipment and safety standards adopted in the wake of the 2011 earthquake and tsunami at the Fukushima nuclear plant in Japan. Chattanooga Times Free-Press
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Here's What to Watch for in Tomorrow's Jobs Report
It's going to be Payrolls Thursday this time, instead of the usual Payrolls Friday, because July 3 will be a holiday in observance of Independence Day. The Labor Department will release the U.S. jobs report for June at 8:30 a.m. in Washington. Payrolls rose by 233,000 last month, according to the median forecast of economists surveyed by Bloomberg. Employers added 280,000 workers in May. The jobless rate, derived from a separate survey of households, fell to 5.4 percent, matching the lowest since 2008, economists projected. Here's what else to watch for in the figures: Bloomberg
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Seven states with lowest taxes for retirees, see which are Southern
When it comes to retirement – and living on a fixed income – people need to consider how taxes will influence their lifestyle. Which states have the lowest taxes for retirees? Christian Science Monitor
Submitted 4 days ago

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More builders and fewer traders: A growth strategy for the American economy
In a new paper, William Galston and Elaine Kamarck argue that the laws and rules that shape corporate and investor behavior today must be changed. They argue that Wall Street today is trapped in an incentive system that results in delivering quarterly profits and earnings at the expense of long-term investment. As Galston and Kamarck see it, there’s nothing wrong with paying investors handsome returns, and a vibrant stock market is something to strive for. But when the very few can move stock prices in the short term and simultaneously reap handsome rewards for themselves, not their companies, and when this cycle becomes standard operating procedure, crowding out investments that boost productivity and wage increases that boost consumption, the long-term consequences for the economy are debilitating. Brookings.edu
Submitted 4 days ago

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BLUE BELL'S LISTERIA PROBLEM IS A STICKY MESS
As he pulled out of Brenham's Blue Bell factory without any ice cream in the back of his delivery truck in April, Tim Smith (not his real name) couldn't shake the feeling he was forgetting something. After almost a decade of delivering ice cream for Blue Bell, Smith had been sent out by his employer to bring it back. Drivers were fanning across 23 states to pick up quarts of lime sherbet, boxes of chocolate-covered Moo Bars and half gallons of Homemade Vanilla, part of the final voluntary recall of all Blue Bell products instituted by company officials after it was revealed that the facilities at Broken Arrow, Oklahoma; Sylacauga, Alabama; and the company headquarters in Brenham were all contaminated with listeria. Dallas Observer
Submitted 4 days ago

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Private job creation heating up this summer: ADP
Private companies in June created positions at the fastest clip this year, indicating a thaw in the labor market as summer began. ADP reported that firms added 237,000 positions in the month, well above market expectations of 218,000. CNBC
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Supreme Court Case Could Determine Future of Public-Sector Unions
The Supreme Court on Tuesday said it would consider whether the Constitution bars states from requiring government employees to contribute to collective-bargaining costs, casting a cloud over the strength of public-sector unions. Governing.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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