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The state of global manufacturing in 3 slides
Aluminum giant Alcoa just reported second quarter earnings, unofficially starting second quarter earnings season. Alcoa's report was a miss on the bottom line as earnings came in at $0.19 against expectations for a profit of $0.22. Revenue, however, came in better than expected, as the company brought in $5.9 billion in the second quarter, topping estimates for revenue of $5.81 billion. And as one of the major aluminum producers in the world, Alcoa is seen as a bellwether for global manufacturing, and Alcoa's overall outlook for the world is generally okay. Business Insider
Submitted 1 years 229 days ago

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BP was happy to pay $18.7 billion to settle Gulf oil spill claims
NEW YORK / LONDON / HOUSTON-- In early May, with its legal options dwindling and investors impatient, BP Plc saw a chance to negotiate what became a $18.7 billion settlement that ended five years of litigation over the worst offshore oil spill in U.S. history. Business Insider
Submitted 1 years 229 days ago

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This animated map shows how the states voted in every presidential election since the Civil War
The citizens of the United States have elected 44 presidents in 57 elections since the Constitution was adopted in 1789. Since the Civil War, presidential contests have been dominated by America's two major political parties – the Republicans and the Democrats. But over the last 150 years, state allegiance to these two parties has shifted greatly. Watch to see how the states voted in every presidential election since 1860. Business Insider
Submitted 1 years 229 days ago

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The 10 most distressed large cities in America, See Which Are Southern
Detroit, Michigan is America's most distressed city, according to a new study by the Economic Innovation Group (EIG) that analyzed over 25,000 ZIP codes in the US. The study examined these seven variables: educational attainment, housing vacancy rates, unemployment rates, poverty levels, median income ratios, percent changes in employment, and percent change in establishments. Business Insider
Submitted 1 years 229 days ago

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Southwest Airlines, unions struggle toward new deals
While the bankruptcies of major competitors opened opportunities for Southwest Airlines, it also caused problems between the airline and its unions. The issue: Southwest saw its labor advantage erode as Delta Air Lines, United Airlines, American Airlines, US Airways and Northwest Airlines cut the wages and benefits of their employees and boosted productivity in bankruptcy court contracts. Dallas Morning News
Submitted 1 years 229 days ago

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Louisiana Tech Announces Research Institute
Ruston, LA -- Louisiana Tech is expanding its education and research opportunities. The university has been collaborating with Cyber Innovation Center, a nonprofit organization based in Bossier City. The center aids in economic development and advancing new technologies. Myarklamiss.com
Submitted 1 years 229 days ago

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Seraphim Solar to build manufacturing facility in Jackson; says will create up to 250 jobs
Chinese solar panel maker Seraphim Solar says it will invest $50 million to open its first American factor in Jackson The company says it will hire 250 workers over its first five years. MSbusiness.com
Submitted 1 years 229 days ago

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Feds open funding growth for Louisiana chemical corridor
The U.S. Commerce Department on Wednesday (July 8) recognized the industrial corridor along the Mississippi River from New Orleans to Baton Rouge as one of the nation's leading manufacturing zones. The designation could give the region a leg up in accessing federal money intended to revive American manufacturing. NOLA.com
Submitted 1 years 229 days ago

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San Antonio one of 12 chosen for federal program
The San Antonio metro area has won entry into an exclusive federal program that will give it bonus points when applying for grants to promote manufacturing. The U.S. Department of Commerce has picked San Antonio among a dozen regions to join its Investing in Manufacturing Communities Partnership program, Secretary Penny Pritzker announced Wednesday. Membership in the program will make it easier for local agencies to get federal money for efforts as varied as building a skilled workforce and taking care of infrastructure needs to funding academic research and promoting international trade. Express news.com
Submitted 1 years 229 days ago

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AT&T to hold hiring event in Florence
The AT&T store near the Florence Mall will host a hiring event Thursday. The event runs from 12 p.m. to 6 p.m. at 7841 Mall Road in Florence. The event is focused on hiring assistant store managers and retail sales consultants for jobs in Northern Kentucky. Cincinatti.com
Submitted 1 years 229 days ago

 

 

 

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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