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Bank of America cuts more Charlotte tech jobs
Bank of America slashed more jobs in Charlotte on Tuesday, the latest in cost-cutting at the company. Affected employees informed the Observer about the layoffs, which the bank confirmed. According to the bank, fewer than 30 Charlotte-based technology and operations positions were eliminated, most in the bank’s global banking and markets units. In a statement, bank spokesman Dan Frahm noted the cuts are part of ongoing efficiency efforts at the Charlotte-based company. Bank of America CEO Brian Moynihan has been pushing for additional streamlining under a program launched in 2014 called Simplify and Improve. Charlotte Observer
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'Space tour guide' is just one of the awesome new jobs you could apply for in 2025
With Earth orbit travel likely to be an affordable luxury by the mid-2020s, it’s predicted a new travel industry will emerge. Tours will show people the glory of a sunrise from space, plus some interesting items of space-junk that have accumulated over the past 60 years. Somebody needs be in charge of these tours and explain to the space travellers what’s going on. So welcome to the era of the space tour guide. Sciencealert.com
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Report: SC household income plunged over seven-year period
The median household income in South Carolina dropped 11 percent between 2007 and 2014, according to a new report on state economies. The report from the Joint Economic Committee in the U.S. Congress includes various data points showing how South Carolina’s economy has fared since the Great Recession. Greenville online.com
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Economic Anxiety Is All About Progress, Not Income
The debate continues over whether Donald Trump's blue-collar supporters—virtually of them white—are motivated by economic anxiety or racial anxiety. I think the evidence is pretty clear that racial anxiety plays the larger role, but it's hardly the only role. Economic anxiety is real too. The usual response is that this just can't be true. White men make more money than black men, which means they have less economic anxiety than black men. So why do they support Trump and black men don't? It must be racial animus. Mother Jones
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Why More American Home Buyers Are Choosing Smaller Houses This Year
It’s uncommon in the post-recession era. When it comes to owning a home in 2016, increasingly Americans are deciding bigger is not necessarily better. A new CNBC report citing data from the National Association of Home Builders (NAHB) and the U.S. Census today reveals the size of the American home shrank by 73 square feet in the second quarter of the year. Fortune
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Here’s How Much Money You Need To Make To Buy A Home In 27 Major Cities
In most of the U.S., a household income of $150,000 means you’re doing pretty well. In San Francisco, it’s probably not enough to buy a home. A report released Monday by mortgage and loan site HSH.com looks at what salary families in 27 metro areas would need to afford the local median home price, including principal, interest, taxes and insurance. The report assumes a buyer’s down payment is 20 percent and uses the lending standard that a monthly home payment shouldn’t be more than 28 percent of income. It relies on the National Association of Realtors’ quarterly data for single family home prices, and excludes condos and co-ops. According to the data, home prices have gone up since the first quarter of the year in every metro area except three, all in Florida: Tampa, Orlando and Miami. Pittsburgh was the most affordable metro area, with a prospective buyer only needing to make $32,400 to afford a typical home. Huffington Post
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The Housing Market Is Finally Starting to Look Healthy
It has been an excruciatingly long time coming, but the housing sector in the United States is finally getting healthy. Thank millennials and thank homebuilders who are starting to produce more of the starter houses young people demand. That’s the conclusion to be drawn from a new report Tuesday that shows that more new homes were sold in July than in nearly a decade. Buyers purchased single-family houses at the annual rate of 654,000, the highest rate since October 2007, the government said. That is 31 percent higher than a year earlier. Those numbers are volatile and include a wide margin of error, but combined with other evidence, the United States housing market seems to be solidly on the mend in 2016. New York Times
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ThousandEyes Announces Expansion With New Austin Office
ThousandEyes, the Network Intelligence company that delivers visibility into every network, today announced it is expanding sales and customer success operations with a new location in Austin, Texas. To lead the office, ThousandEyes has appointed Victoria Abeling, a veteran of developing and growing successful sales organizations at leading enterprise software companies, as director of corporate sales. The company plans to hire and onboard around 30 sales and customer success team members in Austin by the end of the year to align with the company's fast-paced growth. Digitaljournal.com
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Summer reading: 10 stories you might have missed the past few months
With hundreds of thousands of schoolchildren returning to class this week (not to mention tens of thousands more at local universities), summer break is over for most. The high temperatures of June, July and August in Central Texas can mean a slowdown in big news developments, as people retreat indoors to beat the heat, but quite a lot happened this summer, from groundbreaking on a major new tech campus southeast of downtown to an IPO announcement that shed light on one of Austin's biggest consumer companies. Austin Business Journal
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uShip to build new HQ in South Austin
uShip Inc. is building a new headquarters in one of the hippest corners of South Austin. The 13-year-old tech company, which last year reported helping cargo transporters big and small generate over $150 million in sales through its online marketplace, is constructing a three-story, 45,000-square-feet campus at 205 E. Riverside Drive. The site near South Congress Avenue — basically in the shadow of downtown and a stone's throw from Lady Bird Lake — will house the company’s 200-person workforce while accommodating aggressive hiring plans, according to an announcement. Austin Business Journal
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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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