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UW study: Manufacturing jobs earn $8,100 less in right-to-work states
A UW-Extension paper estimates that workers in the manufacturing sector earn an average of $8,100 less in states that have right-to-work laws, and that right-to-work states have more poverty and fewer college graduates. "Bottom line, right-to-work states tend to have lower manufacturing wages and overall income levels, higher poverty rates and lower education levels," reads the UW-Extension right-to-work fact sheet (the PDF is attached) by Steven Deller, a professor of agricultural and applied economics. Madison.com
Submitted 2 days ago

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Alcohol laws in the South Brewing trouble
CRAFT beer lovers wishing to sample the wares of the Sweetwater Brewery in Atlanta must go to strange lengths to do so when visiting. After purchasing a memento glass for $10, the thirsty are awarded ten tickets to swap for samples of Sweetwater ales. More alcoholic choices require more tickets, and visitors can sip their blueberry wheat beer in the sun while listening to live music. Tours of the facilities reveal the impressive size of the fermentation tanks. Apparently if someone drank a gallon of beer a day from the largest of them, they’d still be guzzling 85 years from now. Economist.com
Submitted 2 days ago

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NC unemployment rate rises to 5.5 percent
North Carolina’s unemployment rate rose to 5.5 percent in April from 5.4 percent in March, the N.C. Commerce Department reported Wednesday, as improved economic conditions statewide continue to encourage people to rejoin the labor force to look for and find jobs. The statewide jobless rate has fallen by 1.1 percentage point since April 2014. It’s now slightly higher than the national jobless rate, which was 5.4 percent in April, the Labor Department reported earlier this month. Charlotte Observer
Submitted 2 days ago

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Jobless? Blame corporate America’s borrowing binge
While it’s true that consumers who borrowed too much contributed to the financial crisis, companies that took on too much debt also played a role. What led to the Great Recession? Was it all the fault of consumers? Did they borrow recklessly because money was cheap and mortgages were too easy to get? And then, when house prices collapsed, were they so overly burdened with household debt that they couldn’t afford to maintain their level of consumption? Fortune.com
Submitted 2 days ago

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Here's how Louisville's business-friendliness ranks among other cities
When it comes to business-friendliness, Louisville nearly cracks the top 50. MarketWatch.com has released a list of the 100 most business-friendly cities in the U.S., and Louisville comes in at No. 51. Cities were assigned scores based on their business climate, company performance and economic outcome, and then were given a cumulative score from those three components. Louisville ranks No. 25 in business climate, No. 58 in company performance, and No. 51 in economic outcome, leading to the city's overall No. 51 ranking. Business First
Submitted 2 days ago

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Here's the salary you have to earn to buy a home in 15 major US cities
The mortgage website HSH.com has updated its estimate of how much annual income a household would need to buy a home in major cities in the US according to first-quarter 2015 data. Several cities — Portland, Sacramento, Miami, and Denver — appear on the list of highest-priced metro areas for the first time. Business Insider
Submitted 2 days ago

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Once vilified, BP now getting credit for tourism boom on Gulf Coast
ORANGE BEACH, Ala. – With the Memorial Day holiday here, fallout from the oil spill that left Gulf Coast beaches smeared with gooey tar balls and scared away visitors in 2010 is being credited, oddly, with something no one imagined back then: An increase in tourism in the region. Five years after the BP disaster, the petroleum giant that was vilified during heated town hall meetings for killing a way of life is now being praised by some along the coast for spending more than $230 million to help lure visitors back to an area that some feared would die because of the spill. Shreveport Times
Submitted 3 days ago

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Dallas ranked as nation's most business-friendly city
Dallas is the most business-friendly city in the United States, according to annual ranking by MarketWatch.com. Dallas had a total score of 1,687, just ahead of second place San Francisco, which had a score of 1,665. Dallas scored 478 out of 800 for business climate, 562 out of 800 for company performance and 648 out of 750 for economic outcome. Dallas Business Journal
Submitted 3 days ago

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Floods in Houston Stop Transportation, Close Schools
More than 10 inches of rain flooded Houston Tuesday morning, closing freeways and prompting the suspension of all public transit. Houston TranStar, which monitors regional traffic conditions, listed more than 40 high-water locations slowing or stopping traffic. Houston Metro suspended rail, bus and park-and-ride services until the waters recede. At least four freeways into and out of downtown were affected. The Harris County Sheriff’s Office and other agencies advised people to stay off the roads. At least eight people died in the stormy weekend across Texas and Oklahoma, and 12 were missing, the Associated Press reported. Thirteen people were killed in a tornado in Ciudad Acuna, Mexico, near the Texas border. Bloomberg
Submitted 3 days ago

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Kemper woes mean likely credit downgrade for Miss. Power
The decision by a group of electrical cooperatives to pull out of the planned purchase of 15 percent of a Kemper County power plant is likely to mean a credit downgrade for Mississippi Power Co. Fitch Ratings said Friday that it plans to review the credit rating of the unit of Atlanta-based Southern Co. and the rating is "likely" to fall at least one notch, possibly two. The action comes because South Mississippi Electric Power Association is pulling out of a planned $600 million purchase of a share of the $6.2 billion plant Mississippi Power is building in Kemper County. Clarion Ledger
Submitted 3 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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