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Made in Louisville: Flavors only found in Derby City
If you know anything about the food scene in Louisville, you’ve likely heard about burgoo, Benedictine, the hot brown and bourbon, the latter best enjoyed in the city’s signature cocktail, the Mint Julep. But these days, dining and drinking in the Gateway to the South means much more. USA Today
Submitted yesterday

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Economists: Jobs engine kept chugging in April
The first quarter wasn’t kind to the economy, with the government last week reporting anemic growth of 0.5% at an annual rate. Key reports this week on job growth and the manufacturing and service sectors should begin to reveal whether spring will deliver brighter growth prospects. USA Today
Submitted yesterday

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ISM manufacturing index hits 50.8 in April; construction spending up 0.3% in March
U.S. construction spending rose to an 8-1/2-year high in March, while the manufacturing sector expanded in April but at a slower pace than the previous month, data showed Monday. CNBC
Submitted yesterday

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OUT to LUNCH
The Randle Report is breaking for lunch and making way for a new editor shift. Click on the headline above to access Southern Business & Development's Web site for more detailed information on economic development in the South. Posts will resume at 1:30 pm CDT.
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Playback: Cruz and Fiorina 2016 campaign slogans


Politico
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The $100 Million Superhorse Powering This Year's Kentucky Derby
In the Queens accent that coats every word Mike Repole rattles off, horse isn’t so much horse as it is hawse. So big horse, by extension, is big hawse. A decade into his foray in the thoroughbred industry, Repole -- serial entrepreneur, die-hard New York Mets fan and life-long railbird -- has a big hawse on his hands. A very big hawse. His name is Uncle Mo. A brilliant, albeit somewhat fragile, star on the racetrack, Mo is quickly making an even greater splash in the breeding shed and putting his stamp on this year’s Kentucky Derby. Bloomberg
Submitted yesterday

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International Paper to buy Weyerhaeuser’s fiber pulp business for $2.2 billion
International Paper Co. agreed to acquire the fiber pulp operations of Weyerhaeuser Co.’s cellulose fibers unit for $2.2 billion, a move that is expected to complement the paper-and-packaging company’s business. International Paper IP, +0.44% said it expects to incur a $300 million tax benefit related to the deal. The company also said it expects annual cost savings of roughly $175 million by the end of 2018 that will result in one-time expenses of roughly $85 million. Marketwatch.com
Submitted yesterday

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The U.S. Economy’s Secret Weapon
In this lackluster economy, an unlikely catalyst could provide a much-needed boost. The moribund U.S. manufacturing sector has struggled with low oil prices, the strong dollar and a soft global economy. But it finally showed signs of life in March. Further evidence that manufacturing is regaining its footing is expected in a report due Monday. And improving activity could help the sputtering economy far more than many expect. Wall Street Journal
Submitted yesterday

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UPDATE: If the economy springs back, jobs and auto sales will lead the way
Good news needed after wave of poor reports on U.S. growth For the third straight year, the U.S. economy has gotten off to a rocky start with most experts predicting a spring revival. If sour is going to turn to sweet, investors need to get a big dose of confectionery sugar this week in the form of auto sales and employment in April. Strong car sales and another 200,000 or so gain in new jobs would support the case for the economy getting back on track. Some good news would sure come as a relief. Morningstar.com
Submitted yesterday

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The On-Demand Economy Is Transforming Summer Jobs
The on-demand gig economy is transforming another corner of the job market: the summer job for students. Recent high-school grads and college students are turning to startups like Uber, TaskRabbit, Instacart and Postmates for work like delivering groceries or handling tech work for businesses. Unlike in traditional summer jobs, students can set their own schedule, and they don’t have to sell themselves to neighbors or managers to get work—the on-demand jobs are largely there for the asking. Wall Street Journal
Submitted yesterday

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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 Mike Randle
The belief that "80 percent of all new jobs come from existing business and industry" is an out-of-date, old-fashioned fabrication. I have no idea how it started, where it started, or who said it first, but there are professionals in economic development as well as leaders of government in the South who actually believe that each year, 80 percent (why 80 percent I don't know, either) of all new jobs are created by existing business and industry. I hear it all the time and I just roll my eyes. There is nothing static in economic development but this: 100 percent of all lost jobs come from existing business and industry. That, and of course 100 percent of the time site consultants never pay for a meal.
 

 Business News in the South - Randle Report

FEATURE     
According to Chinese theory, yin is a passive, negative force and yang is an active, positive force. Chinese philosophers believe that the opposing forces aren't really contradictory. Instead, they are interconnected and complimentary, interacting to create a balance in one's life. 
 
 Nashville Mayour Karl Dean
The Annie E. Casey Foundation's KIDS COUNT report was released in the summer quarter. I try to read it every time it comes out since I find it to be the best indicator of child poverty, a statistic everyone involved in economic development needs to be aware of. The Annie E. Casey Foundation is a charity that supports disadvantaged children. 
 


 

 

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