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That's The Randle Report for November 21, 2014
Join us again on Monday morning for all of the American South's business, economic development and political news in real time and in one place. Use the sort buttons or the search window above to find your favorite stories from yesterday, last week, last month or last year. Click on the headline to access Southern Business & Development magazine.
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Oil Boom Returns to Gulf After Deepwater Horizon Disaster
ABOARD THE OLYMPUS PLATFORM, Gulf of Mexico—Four years after the Deepwater Horizon disaster, giant new oil projects are returning to the Gulf—bigger and more expensive than ever. This platform, owned by Royal Dutch Shell PLC, is a floating hive of human activity, 130 miles off the Louisiana coast. Larger than a New York City block and weighing more than an aircraft carrier, Olympus is among roughly a dozen new multibillion-dollar platforms that are or will be pumping oil in the deep waters of the Gulf by the end of next year. The resurgence could be short-lived if the decline in crude-oil prices, down about 30% since June, continues and prompts companies to delay substantial investments in the Gulf. The Wall Street Journal
Submitted 55 minutes ago

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Louisiana would get big economic boost from eastern Gulf of Mexico drilling, report says
Louisiana stands to gain more than 31,000 jobs and nearly $344 million per year in new state revenue over the next two decades if areas of the eastern Gulf of Mexico now off limits to oil and gas exploration are opened, according to a report released this week by the American Petroleum Institute and the National Ocean Industries Association. Federal law bans all drilling in the majority of the eastern gulf off the coasts of Mississippi, Alabama and western Florida through 2022. Conservationists say opening the area to oil and gas work would harm the environment and are pushing for the ban to become permanent. They note that oil companies have yet to explore all of the offshore areas now available for leasing. NOLA.com
Submitted 58 minutes ago

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Louisiana adds 24,500 jobs to top another record
A record of nearly 1.99 million Louisiana residents were employed in nonfarm jobs in October. The state added 24,500 jobs since October 2013, the U.S. Bureau of Labor Statistics and Louisiana Workforce Commission reported in seasonally adjusted numbers on Friday. “As strong as those numbers are, I don’t expect the (record) to stand for long,” said Curt Eysink, the LWC’s executive director. “We’re still in the early stages of around $100 billion of announced industrial construction and manufacturing expansions that will drive job growth for years to come.” Though nonfarm employment has established state records frequently this year, Louisiana’s unemployment rate has moved upward, too. The Advocate
Submitted 1 hour ago

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Alabama unemployment rate drops to 6.3 percent, while state adds 33,000 jobs over past year
Alabama's unemployment rate is down slightly in October compared with September, and unchanged from this time a year ago. The state's official unemployment rate for October was 6.3 percent, the same as October 2013, according to the state's Department of Labor. The rate was 6.6 percent last month. Alabama added 33,100 jobs over the past 12 months, according to Friday's report. The largest gain was in leisure and hospitality jobs, with about 12,100 jobs added. Alabama's total private sector has added 7,100 jobs over the past month. Manufacturing and financial activities were the only industries to lose jobs over the past month. Manufacturing lost about 200 jobs month to month, but year to year had a gain of 7,500. AL.com
Submitted 1 hour ago

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Georgia, again, has the nation’s highest unemployment rate
Georgia, yet again, has the nation’s highest unemployment rate, according to statistics released Friday by the federal Bureau of Labor Statistics. For the third month running, Georgia’s rate — 7.7 percent in October — topped Mississippi, Alabama and every other state in the nation. North Dakota, swimming in oil and gas jobs, again had the lowest jobless rate at 2.8 percent. The national rate is 5.8 percent. AJC.com
Submitted 1 hour ago

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Immigration order’s economic impact probably minimal, possibly negative
WASHINGTON — Will 5 million unauthorized immigrants start pushing U.S. citizens out of their jobs now? Will they start getting government benefits and draining city hall budgets? Or will they start moving up the ladder, paying taxes and giving a boost to the economy? President Barack Obama’s decision to protect them from deportation and allow them to apply for work permits actually is likely to produce none of those scenarios. It packs little economic punch because the immigrants are already here and the reprieve is only temporary. Dallas Morning News
Submitted 1 hour ago

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Texas adds 35,200 jobs in October, unemployment rate falls to 5.1 percent
Texas is keeping up its steady job growth, adding 35,200 jobs in October, the Texas Workforce Commission reported today. Employers statewide have added 30,000 or more seasonally adjusted jobs every month so far this year. The government also revised September’s employment number up to 36,400 jobs, from an initial 34,600. Texas ranked No. 2, after California’s 41,500 new jobs, last month. However, the state still leads the nation for its record 421,900 jobs added over the last 12 months. Overall, October employment increased in 38 states and decreased in 12 states plus Washington, D.C., according to data from the U.S. Bureau of Labor Statistics. Nevada saw the largest monthly job loss (-7,300). The Dallas Morning News
Submitted 1 hour ago

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How Tennessee's Lamar Alexander would fix Obamacare
When Republicans officially take control of the Senate at the start of 2015, U.S. Sen. Lamar Alexander (R-Tenn.) will land the role of chairman on the Senate Committee on Health, Education, Labor & Pensions. Since Alexander hails from a state where health care is, in many ways, king, I chatted with the senator Wednesday morning to get a sense of what he'd like to see happen to the Affordable Care Act under a Republican-controlled Congress. "Obviously we would prefer to repeal and replace this. And there will probably be a vote and I will vote for it," Alexander said. He added, though, that it's very unlikely Barack Obama would sign a law repealing the signature health reform bill that colloquially bears his name. Nashville Business Journal
Submitted 1 hour ago

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American's Doug Parker talks bag fees, possible HQ move out of Fort Worth and labor talks
From bag fees to possibly moving the company's headquarters out of Fort Worth, American Airlines CEO Doug Parker hit all the hot topics at Thursday morning's Fort Worth Chamber of Commerce breakfast. He was the keynote speaker and talked to media afterwards to answer specific questions at the Fort Worth Convention Center. On record profits in 2014: American will have the "best year in the company's history in terms of profit. It allows us to invest in our product and our people. We're happy to be in that position. It's dramatically different from where the company has been the last few years." When asked whether these record profits mean an end to bag fees, Parker said: Dallas Business Journal
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Features & Opinion

 Top Ten Places in the South for Relocating California Companies

The America South is home to almost as many residents as the Northeast and the Midwest combined, but even that statistical record is about to be broken. According to a new Census Bureau study that came out in April, 51 percent of the nation's population jump occurred in the South from 2010 to 2013.
 

 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     
This is our annual "Made in the South" issue and it's timely because there is a new player in the South's manufacturing universe. For almost two decades, economic developers and politicos in the South and the U.S. have been chasing Chinese projects with little or nothing to show. Want proof we've been chasing ghosts in China for years? Okay, go ahead and name a Chinese brand that's made in the South? Tick. . .tick. . .tick. Give up?
 
 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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