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Arnold Palmer's N.C. alma mater reacts to golf legend's death
Arnold Palmer, the golfing legend dubbed “The King” and credited with broadening the appeal of the sport to the masses, died Sunday at the age of 87. One of the sport’s greatest players and ambassadors, Palmer was an alumnus of Wake Forest University – when it was located in Wake Forest, before moving to Winston-Salem in 1956 – as well as a friend of the Wyndham Championship, dating back to when the tournament was known as the Greater Greensboro Open. Between 1955 and his retirement a decade ago, Palmer won seven major championships, including winning the Masters four times. Triangle Business Journal
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Roush Yates revs up investment, employment at Mooresville, N.C. racing engines plants
Roush Yates Engines will add 10 jobs to its Mooresville shop as it expends $3.5 million to buy new production equipment and expand its buildings there. The three Roush Yates buildings, located in Lakeside Business Park and across Interstate 77 in Talbert Pointe Business Park, currently contain 185 employees. Doug Yates, CEO of Roush Yates, says the Mooresville and Iredell County are “great partners” to the company, which has operated the facility for more than a decade. Charlotte Business Journal
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Capital One sharpens vision for Northern Virginia HQ campus with Wegmans, employee housing and conference center
Capital One’s overhaul of its 24.5-acre Tysons campus is a massive undertaking that is seemingly in constant flux. The pieces are there — Northern Virginia’s tallest office tower, an urban-format Wegmans, a training-conference center, apartments and retail. But the focus, the company says, is “sharpening,” and changing once again. The banking giant has approached Fairfax County for at least the third time with tweaks to its approved plan for a 5 million-square-foot buildout of its campus, changes it says will accommodate the company’s growth while constructing “an innovative urban environment that fully incorporates its existing and proposed office towers and adds a host of retail and cultural options, thus creating a vibrant neighborhood for its employees, visitors and residents.” Washington Business Journal
Submitted yesterday

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Convergence of completed projects in four years expected to boost growth at Georgia Ports
If there is one thing Georgia Ports Authority is known — and envied — for among the global maritime community, it’s the uncanny ability to plan and execute ahead of the curve. It started, perhaps, at the turn of this century, when the port partnered with economic development leaders to attract more imports by offering shippers a place to build warehousing and distribution centers near the port. It continued with the ports’ development of two intermodal rail facilities on terminal and the ports’ redesign of its vast Garden City Terminal container yards, creating the density needed to free up more space. Intermodal shipping incorporates multiple modes of transportation, usually capitalizing on the advantages of rail. Savannah Morning News
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Failed Savannah film studio project executives charged with fraud
Three executives of Moon River Studios, the failed film studio complex outside Savannah, Ga., are in trouble with the U.S. Securities and Exchange Commission for allegedly defrauding investors. On Sept. 23, the SEC charged Manu Kumaran, the founder and former chairman and CEO of Medient Studios (later Moon River Studios), his successor Jake Shapiro and Roger Miguel, the CEO of Moon River's parent company Fonu2, with allegedly backdating and falsifying documents in an attempt to secure financing for the project. Atlanta Business Chronicle
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How do you transform a downtown like Tampa's that has such little history?
It's one thing to decide which building goes where when mapping out a new $3 billion district for downtown Tampa. But it's another challenge entirely to create a sense of place and identity that has been lacking in downtown Tampa for decades when there isn't much history in that part of town. That's the problem facing James Nozar, the man in charge of Strategic Property Partners' plan to build a new 53-acre urban core for Tampa from the ground up. As the chief executive of SPP, the real estate firm owned by Tampa Bay Lightning owner Jeff Vinik and Bill Gates' Cascade Investment, he's working with 17 architects, planners and designers to create a unifying theme across the entire district as they build it block by block. Tampa Bay Times
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South Florida call center announces 700 job openings
Global Response, a call center, is hiring more than 700 people at its Margate headquarters. The company is seeking customer service representatives to handle inbound customer calls, chat, email and social media. The company would not reveal its pay rates to the Business Journal, but says it offers paid training, weekly pay and bonuses for performance and attendance. Positions are open for all shifts, which run between 8 a.m. and 2 a.m. Mondays through Sundays. The jobs are at its headquarters at 777 S. State Road 7 in Margate. South Florida Business Journal
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More Michelin Men (And Women): 350 new South Carolina jobs
SPARTANBURG, S.C. -- Michelin North America which already operates seven tire manufacturing plants in the Upstate of South Carolina is expanding again. Michelin is adding a new distribution center in Spartanburg that will create 350 jobs. The company has its North American headquarters in Greenville and announced Monday that it's investing more than $270 million in the new distribution center. Charlotte Observer
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The most active part of the US economy is sending 'mixed signals'
Markit Economics reported a jump in service-sector activity during September, although new orders and hiring slowed. The firm's flash purchasing manager's index — a preliminary report — was 51.9, beating the forecast for 51.2. When the index is above 50, it indicates that the sector is in expansion. Growth in new orders slowed to a four-month low, and in turn, companies reduced hiring, Markit said. Yahoo.com
Submitted yesterday

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US consumer confidence jumps to 9 year high
US consumer confidence jumped to its highest level in more than nine years, as low oil prices and the continued improvement in the labour market bolstered sentiment among American consumers. Financial Times
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Features & Opinion

 Randle Report - Business News in the South

For those who still languish over "losing to China" or believe that the economy is still in recession, wake up and smell the data. Economic development in the South was about as good as it gets in calendar year 2015 according to the data. And as for China, borrowing a quote from the late football coach Bear Bryant that he made in the half-time locker room down 15-0 to Georgia Tech in 1960, "We got 'em right where we want 'em." For those of you who don't know the rich history of Alabama Crimson Tide football, Bama scored all of its 16 points in the fourth quarter, kicking a field goal on the last play of the game to beat Tech 16-15.
 

 Randle Report - Business News in the South

 FEATURE  
By Mike Randle
Today, factories in the U.S. make twice as much product as they did in 1984. And they are doing it with one-third of the manufacturing workforce. In fact, the output of durable goods in 2015 was the highest in the nation's history. So, we do have a strong manufacturing base, at least in the South, much of the Midwest and parts of the West, and it is getting stronger because on a cost-basis, we can compete with any major manufacturing nation in the world.  
 

 Randle Report - Business News in the South

FEATURE     
The argument for or against a minimum wage hike continues between the reds and the blues, as well as within the economic development community in the South. Should we stay the course with a minimum wage under $8 an hour to better compete with Mexico, the South's biggest competitor for jobs, or set a minimum wage just over $10 an hour, a wage floor most centrists support? That $10 per hour is, according to the MIT Living Wage Calculator, about right in most states in the South for one adult to be able to cover basic expenses plus all relevant taxes.
 
 Randle Report - Business News in the South
Recent data from the Computing Technology Industry Association (Comp TIA) showed that the technology industry is one of the fastest growing job generators in the South and the nation. The report also indicated that technology job compensation is growing faster than any other sector.
 


 

 

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