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SMU rated among the best universities at producing CEOs
You can count Southern Methodist University among the best schools in the nation for producing CEOs, according to a list from Times Higher Education. SMU ranks 10th on the list that is led by Harvard University at No.1 and Stanford University at No. 2. The Times Higher Education’s rankings were determined using "the total number of degrees awarded to CEOs; the total number of CEO alumni; [and] the total revenue of the alumni CEOs’ companies." According to the list, SMU awarded five degrees and has four CEOs leading companies with total revenues of $575.3 billion. Dallas Business Journal
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Mississippi to lose second casino in September
Mississippi will lose its second casino of 2014 when Margaritaville Casino & Restaurant in Biloxi shuts down in September. The owners of the property were looking to invest $64 million to expand casino and add a 250-room hotel. Margaritaville was one of the only properties in Biloxi that didn’t have a hotel, according to CDC Gaming Reports. When the property closes, it will put 371 employees out of work. Those employees will be paid through Sept. 19. Margaritaville opened in May 2012 and cost $62 million to build. According to CDC Gaming Reports, the owners weren’t able to get the hotel component built because the owners of the land wouldn’t renegotiate the land lease. Margaritaville’s pending shut down is the second time in 2014 a Mississippi casino will close. In June, Harrah’s Tunica, one of the largest and oldest properties in the state, closed. That property employed around 1,500 people. Memphis Business Journal
Submitted 9 hours ago

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Obama will visit KC to talk economy
President Barack Obama will be in town next week to deliver a remarks on the economy, according to a White House official. Obama is slated to arrive in the Kansas City area next July 29 and stay overnight before giving a speech the following day. On July 30, he will fly back to Washington. The official added that more details about the visit will be available in the coming days. Obama last visited Kansas City in September, at the Ford Motor Co.'s new stamping plant near Claycomo. At the time, he commented on the economic recovery of the auto industry and the city's recovery from the recession. Kansas City Business Journal
Submitted 9 hours ago

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Missouri offers up to $26M to lure CBIZ to Plaza
Despite recent truce attempts, the economic development border war Missouri and Kansas have been fighting over big Kansas City-area employers is raging on. The Missouri Department of Economic Development has fired the latest salvo. It confirmed Tuesday that it will grant CBIZ Inc. and Mayer Hoffman McCann PC more than $26 million in incentives through the Missouri Works program if they meet job-creation and investment criteria at their new home on the Country Club Plaza. Earlier Tuesday, the business and financial services firms announced that they would move across the state line next summer from their current 136,500 square feet at Pinnacle Corporate Center III in Leawood to as much as 120,000 square feet in the Plaza Steppes building, 700 W. 47th St. Kansas City Business Journal
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Obamacare court kerfuffle could disproportionately hurt N.C.
Depending on how court rulings on the Affordable Care Act from Tuesday shake out, North Carolina could be disproportionately affected. Two federal appeals courts came to essentially the opposite opinions Tuesday as it relates to health insurance subsidies to people buying health insurance on the federally-run exchanges. One court ruled that people were eligible for subsidies only if they were on state-based exchanges, and those on the federally-run exchange would not receive subsidies going forward. Depending on which rulings are eventually upheld, North Carolinians could see subsidies go away because this is a state that falls under the federal exchange program. Triangle Business Journal
Submitted 9 hours ago

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400 jobs coming to N.C.
The N.C. Department of Commerce on Tuesday approved incentives for two companies that will create a total of 400 jobs in Granville and Mecklenburg counties. Ideal Fasteners Corp. plans to bring 155 new jobs to Oxford in Granville County. The jobs will have an average salary of $35,200, with an investment of $5.7 million. New York-based Ideal Fastener is already in Granville County. The zipper manufacturer currently employs 226 people locally, and job retention is part of the arrangement. Spectra Group Inc. is bringing a financial services center to Charlotte that will create 250 jobs averaging $84,996 in wages. The Princeton, N.J.-based company is an IT solutions consultant that's interested in Charlotte because of its reputation as a finance capital. Gov. Pat McCrory was expected to give more details on the move at 3 p.m. today in Charlotte. Triad Business Journal
Submitted 9 hours ago

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Spectra Group says it chose Charlotte for 250 jobs over Austin and Tampa Bay
With $2.9 million in tax incentives and proximity to the banking industry, Charlotte beat out Austin, Texas, and Tampa Bay, Fla., for a new Spectra Group Inc. delivery center. Spectra CEO and founder Aditya Narra told reporters Tuesday that he decided on Charlotte for his company's big expansion because it provided a deep talent pool of IT pros with financial-services experience, easy access to New York and a business-friendly climate with tax rebates for the 250 jobs the firm plans to deliver. "We looked at a lot of up-and-coming markets before choosing Charlotte," he said. Narra, a 42-year-old immigrant, founded the company in Princeton, N.J., in 2009. It specializes in helping large banks and other financial-services firms with compliance and audit projects. Charlotte Business Journal
Submitted 9 hours ago

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California semiconductor company opens Austin office in U.S. expansion
Encore Semi Inc., a California-based semiconductor chip designer, has opened an Austin development office as part of a four-city national expansion. Encore, which is based in San Diego, Calif., disclosed Tuesday that it recently opened offices in Austin, Boston, New Jersey and San Jose, Calif. The company, founded in 2011, has staffed each office with both sales and technical workers, according to a company statement. The Southwest Austin office on Rialto Boulevard will mostly employ software engineers and hardware design engineers focusing on software service and intellectual property development in Central Texas, Chief Operating Officer Grant Miller told Austin Business Journal. He said he was uncertain about how many workers the company plans to employ in Austin. Austin Business Journal
Submitted 9 hours ago

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BB&T CEO: ‘North Atlanta is booming now’
BB&T Corp. is benefiting from new development in Atlanta and the bank's CEO has taken notice. The Winston-Salem, N.C.-based bank’s (NYSE: BBT) CEO Kelly S. King told Wall Street analysts on a July 21 conference call builders are borrowing money again for the development of lots in Atlanta. The CEO noted the lack of available lots and said it is causing development to increase. King said most of the growth has been and will continue to be in North Atlanta and that growth is doing great. BizJournals.com “North Atlanta is booming now,” King told analysts. “Now South Atlanta is not because you will still hear some carryover of excess inventory in Atlanta.” Atlanta Business Chronicle
Submitted 9 hours ago

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Gulf Power ranked as No. 2 most trusted electric utility
Gulf Power has been recognized as one of the top two most trusted electric utilities in the country. Cogent Reports, a division of Market Strategies International, surveyed 19,000 residential utility customers earlier this year as part of its Utility Trusted Brand & Customer Engagement study. Cogent surveyed customers of the largest 125 natural gas, electric and combination utilities in the country to determine the most trusted companies. “We were thrilled to hear about being ranked as a top trusted utility,” said Gulf Power President and CEO Stan Connally. “Earning the trust of our customers is something we take very seriously and this survey highlights the priority our employees have put on serving our customers and communities across Northwest Florida.” Northwest Florida Daily News
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Features & Opinion

 Top Ten Places in the South for Relocating California Companies

In growth, companies find themselves in the dilemma of identifying capital to increase capacity and managing opportunity cost where capital may be deferred. This dilemma is amplified as capacity constraints drive a company to complete the site selection process for an expanding or new facility. 
 

 Randle Report - Business News in the South

 FEATURE  
By Dr. Glen Fenter
Desperation sometimes masks itself in acceptance. Such was the case for Takelia Carter of Marion, Ark. For Carter, the mother of six school-age children in a low paying job, desperation was normative existence. This was her life in Crittenden County, Ark., deep in the Delta where unfortunately one in four families lives well below the poverty level.
 

 Business News in the South - Randle Report

FEATURE     
By Mike Randle
There are numerous factors driving the new industrial revolution in the South. And it is a revolution, as this manufacturing surge that began in 2007 continues to break records year after year in the total number of large, capital intensive projects. One factor, of course, is that reshoring of facilities back to the U.S. continues to grow each year.
 
 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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