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Phew! Greeks Vote to Keep Euro, Pay Their Debts
Parties committed to Greece's bailout were on course to secure a parliamentary majority on Sunday and the radical leftists who had vied for first place conceded defeat in an election that could keep the debt-laden country in the euro zone. The Fiscal Times
Submitted 1 years 309 days ago

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Chattanooga's EPB Smart Grid project nears completion
Chattanooga's $220 million Stimulus-supported Smart Grid project is finally drawing to a close. Officials for the city-owned EPB say they plan to throttle back on expenditures as the last of the Smart Grid money from the U.S. Department of Energy goes into the bank. "We've had the pleasure of spending like a drunken sailor, but now it's time to sober up," said Harold DePriest, president and CEO of EPB. "We think it's important to reduce electric system costs to pre-fiber levels." Chattanooga Times Free Press
Submitted 1 years 309 days ago

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Alexander resists GOP, backs pollution rules (with video)
U.S. Sen. Lamar Alexander, R-Tenn., who stepped down as head of the Senate Republican Caucus last year, is breaking ranks with his GOP colleagues to support an Obama administration plan to impose stricter pollution controls on coal-fired power plants. Despite a $400,000 television campaign urging him to fight the new rules, Alexander said Friday that the new EPA-ordered pollution controls on coal plants should help the economy and the environment of Tennessee. Chattanooga Times Free Press
Submitted 1 years 309 days ago

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That's The Randle Report for June 15, 2012
That's a wrap on The Randle Report for today. Feel free to use the sort buttons above or the search window to find your favorite stories from today, last week, last month or in the last year. If you are looking for more information on economic development in the South, click on the headline above to read Southern Business & Development magazine. If you want to keep up with the South's growing automotive industry, go to www.SouthernAutoCorridor.com.
Submitted 1 years 311 days ago

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Georgia reacts to White House announcement on immigration
The White House’s election-year announcement Friday that certain illegal immigrants may be spared from deportation and given the right to work in the United States drew strong reactions from Georgia, a state embroiled in federal court battle over its push for stringent enforcement. Critics in Georgia accused the Obama administration of ignoring the nation’s immigration laws and pandering to Hispanics for votes in the coming presidential election. They point to a 2010 Pew Hispanic Center estimate showing Georgia is home to the seventh largest number of illegal immigrants among the states at 425,000. Atlanta Journal-Constitution
Submitted 1 years 311 days ago

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TN jobless rate for May rises to 7.9 percent
Tennessee’s unemployment rate increased last month for the first time in nearly a year, rising to 7.9 percent, mirroring a U.S. job market that has begun to show a few hiccups. The slight increase in state unemployment — compared with April’s 7.7 percent revised rate — was caused by a small increase in the amount of people re-entering the workforce to seek jobs, said Karla Davis, the state’s labor commissioner. The U.S. job market is flagging, and consumer prices are barely rising. That picture — sketched by economic data released Thursday — has made some economists predict the Federal Reserve will announce some new step next week to boost the national economy. The Tennessean
Submitted 1 years 311 days ago

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Debt bomb ticking at Texas' Energy Future Holdings
Texas doesn't need a presidential election to spark a debate about private equity. The biggest bust ever is brewing here, and it already upends the notion that business knows better. More important, the financial flop of Energy Future Holdings is shaping up as a test case for electric deregulation. Will the free market fill the void when the largest player cannot? And will EFH's troubles undermine the most pressing problem, the need for more generation? Five years ago, when it was easy to raise capital and reel in investors, Kohlberg Kravis Roberts, TPG and Goldman Sachs led a $45 billion leveraged buyout of TXU Corp. It was the largest LBO ever, for the state's largest power generator and North Texas' dominant electric provider. Star-Telegram
Submitted 1 years 311 days ago

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What was Rand Paul thinking?
So what was a libertarian like Kentucky Sen. Rand Paul thinking when he endorsed Mitt Romney? It’s a question that many of his supporters — and his father’s supporters — have been asking in the aftermath of his Fox News interview announcing his backing of the former Massachusetts governor. While Rand Paul cited their shared experiences as sons of presidential candidates and their alignment on issues such as auditing the Fed and Internet freedom, a top Paul staffer shed more light Wednesday on the political calculus. Politico.com
Submitted 1 years 311 days ago

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Hopeful Sign: Small Manufacturers Buy Big Machines
NEW YORK — Small businesses that make machines and components for other manufacturers are experiencing an upswing that could be a sign of things to come for the broader economy. The industries fueling the demand vary. In some cases, business is coming from medical device makers, which are expected to see increasing growth as baby boomers age and need more medical care. An uptick in orders is coming from oil and gas producers supplying energy to growing economies in countries such as China and India. And then some are getting a pop in sales from aerospace manufacturers that are busy building fuel-efficient aircraft and engines and need special parts to get the job done. As different as these manufacturers may be, they have two things in common: Their industries are expected to see continued growth and they’re investing in expensive machinery that can cost millions of dollars. TIME.com
Submitted 1 years 311 days ago

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Texas continued to add jobs in May but at a slower pace
The Texas economy continued to add jobs in May — albeit at a slower pace than recent months, according to data released today by the Texas Workforce Commission. Employers statewide added 12,500 jobs last month, adjusted for seasonal fluctuations, the 22nd straight month of job gains. However, the number of additional jobs fell below net 13,200 jobs added in April. Texas’ unemployment rate remained at 6.9 percent in May, down from 8.1 percent a year ago. The state jobless rate remains well below the national unemployment rate of 8.2 percent. Dallas Morning News
Submitted 1 years 311 days ago

 

 

 

Features & Opinion

 Top Ten Places in the South for Relocating California Companies

Reshoring manufacturing capacity from primarily Asia to the South and Mexico is now a common thing to do and it's all about money. When China joined the World Trade Organization in 2001, the average manufacturing wage in China's Pearl River Delta (PRD) was about 58 cents an hour.

 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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