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A Shrinking U.S. Workforce Is Stifling Economic Growth
The economic recovery from the Great Recession has been achingly slow, with unemployment staying well above the 7% mark despite long-running support from the Federal Reserve in the form of quantitative easing. Will we ever get back to where we once were, pre-financial crisis? Unfortunately, the answer seems to be a resounding no. Experts note that, since the crisis began, the nation's Gross Domestic Product has fallen precipitously, and there is no real indication that things will be looking up anytime soon. The Motley Fool
Submitted 1 years 271 days ago

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Gov. Rick Scott delivers mea culpa on voter purge
TALLAHASSEE -- In a rare display of contrition coming to a Florida city near you, Gov. Rick Scott’s administration is acknowledging what civil rights groups and local elections officials had already been saying: Last year’s attempted purge of noncitizens from voter rolls was fundamentally flawed. “I accept responsibility for the effort,” Scott’s secretary of state, Ken Detzner, told the Herald/Times. “It could have been better. It should have been better.” Miami Herald
Submitted 1 years 271 days ago

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Wendy Davis and Texas are a problem for Democrats
Those who have followed my writing know that I don't think Wendy Davis has a very good chance of being elected governor of Texas. She trails in early polling, there hasn't been a major Texas Democratic statewide officer holder in 20 years, and the state's demographic changes indicate a landscape that is much further away from being competitive than many Democrats argue. But there's more to it than that: Davis' campaign could have bad ramifications for Democrats outside of Texas. The Guardian
Submitted 1 years 271 days ago

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Obamacare showdown in Texas
HOUSTON — The ground war over Obamacare — the one that will determine whether people sign up — will be won and lost in places like Texas. If Obamacare fails in the Lone Star State — that is, if a significant portion of the 6.1 million uninsured Texans don’t or can’t enroll — then the White House could miss its national enrollment targets, the new health insurance exchanges could falter and insurance rates could spike. Politico
Submitted 1 years 271 days ago

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That's The Randle Report for Friday, October 4, 2013
Join us again on Monday morning for all of the American South's business, economic development and political news in real time and in one place. Use the sort buttons or the search window above to find your favorite stories from yesterday, last week, last month or last year. Click on the headline to access Southern Business & Development magazine.
Submitted 1 years 273 days ago

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Drive! Moving Tennessee's Automotive Sector Up the Value Chain
More than 30 years ago, Tennessee’s economy was transformed by the arrival of Japanese automaker Nissan in Smyrna. Now, $30 billion in investment later and five years after the onset of the Great Recession, an exponentially larger and more intensely competitive Tennessee auto industry has begun to grow again under new conditions. This environment presents Tennessee with both opportunities and challenges as it considers how to secure more and better jobs and prosperity in what the state has recognized as a definitive “advanced industry.” Brookings
Submitted 1 years 273 days ago

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Anti-union, UAW efforts full throttle at Volkswagen's Chattanooga plant
Anti-United Auto Workers petitions circulating at Volkswagen's Chattanooga auto assembly plant have captured signatures of about 30 percent of the plant's workers, an official said Wednesday. But a UAW regional director is discounting the effort, saying he doesn't think the petitions will have any bearing on discussions the union is having with VW. All this activity at the plant comes as a top VW labor leader postponed a planned Wednesday visit to the Chattanooga plant, and a meeting with Gov. Bill Haslam, because of plane trouble flying out of Germany. Chattanooga Times Free Press
Submitted 1 years 273 days ago

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Bryant: South Mississippi can benefit from state's booming auto industry
BILOXI -- Mississippi has gone from zero cars manufactured in the state to 2.2 million in just 13 years, Gov. Phil Bryant told the Southern Automotive Conference on Thursday at the Beau Rivage Resort and Casino.Most of the auto business is concentrated in north Mississippi but Bryant said, "I certainly think they will come" to South Mississippi."That's one of the important reasons for the Port of Gulfport and the Port of Pascagoula," he said. "We are talking to Toyota now that's looking at exporting 7,500 of their automobiles to South America. We are the perfect location to be able to do that." Biloxi Sun-Herald
Submitted 1 years 273 days ago

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TVA breaks record for power generation from its dams
TVA generated more electricity during the fiscal year ending Sept. 30 than in any year in its 80-year history, the federal utility announced today. Above-average rainfall and water runoff allowed TVA’s 29 hydroelectric dams to generate 18.5 million megawatt-hours of electricity, enough to serve 1.2 million homes for a year. This breaks TVA’s previous record, set in 1973, by 122,000 megawatt-hours. “It has been a wet year and our River Operations team took advantage of it,” John McCormick, TVA vice president of River Operations, said in a statement. Knoxville News-Sentinel
Submitted 1 years 273 days ago

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C Spire to build data-processing site in Starkville, Miss.
C Spire officials announced Thursday the company will build a $22 million data-processing center at Mississippi State University's Thad Cochran Research Park, a move which marks the first significant Oktibbeha County investment landed by the Golden Triangle Development Link. The company plans to break ground on the facility next month and complete construction one year later. The facility, which will be the third of its kind operated by C Spire in the state, will be one of only 52 in the U.S. with a Tier 3 or 4 rating, the highest such certification given by the Uptime Institute. It will offer colocation, cloud-based computing, disaster recovery, data storage and enterprise solutions. Columbus Dispatch
Submitted 1 years 273 days ago

 

 

 

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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 Stacy Randle
Demographer Wendell Cox recently analyzed the largest gains in holders of bachelor's and post-graduate degrees between 2007 and 2012 in the 51 metro regions in the U.S. of 1 million residents or more. The results were published in Forbes magazine and the South dominated the ranking.
 

 Business News in the South - Randle Report

FEATURE     
After I finished the cover story for this issue, I read an interesting article by economist Paul Krugman, the op-ed columnist for the New York Times, titled, "Partying like it’s 1995." Generally I side with Krugman, even though I am a journalist, not an economist. Occasionally, though, I read some of his stuff and ask myself, "What planet did Krugman come from?" Like when he predicted a shift of automotive assembly to Canada after Toyota announced a new plant in Woodstock, Ontario in 2005 because of "free healthcare," among other benefits. That Toyota deal was the last major automotive assembly plant announced in Canada and I predict it will be the very last one for the Canadians.
 
 Nashville Mayour Karl Dean
If you have ever seen one of my presentations, then you know about the word "reshoring" and how that phenomenon has lifted the spirits of even the most skeptical Southerners regarding the future of the region's economy. After all, in the last four decades, manufacturing has suffered a bloodletting never before seen in U.S. history. The biggest factor behind the slow and long meltdown that began in the 1990s was the herd mentality to offshore manufacturing capacity to cheaper locales, primarily by U.S.-owned companies.
 


 

 

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