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Former Va. Gov. Bob McDonnell trial tells politicians that feds are watching
RICHMOND--The upcoming corruption trial of former Gov. Bob McDonnell and his wife is sure to have Virginia politicians riveted - with good reason. For the state's elected leaders, the courtroom drama that will begin unfolding Monday underlines a stark reality that has become increasingly apparent over the past five years: The feds are watching you. Closely. "What is very clear is that the federal investigators and the federal prosecutors are putting Virginia under a much closer microscope than we've ever seen," Richmond-based political analyst Bob Holsworth said last week. Virginian-Pilot
Submitted 1 years 308 days ago

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W.Va. workers’ compensation rates to drop again
West Virginia employers are set to see their workers’ compensation premiums drop by about $32 million in the coming year, Gov. Earl Ray Tomblin announced Thursday. It will be employers’ tenth consecutive reduction in workers’ comp rates when it takes effect later this year. Tomblin said the National Council on Compensation Insurance earlier this week filed a proposed reduction in workers’ compensation loss cost rates — a key ingredient used to determine workers’ compensation insurance premiums — with the Offices of the West Virginia Insurance Commissioner. Charleston Daily Mail
Submitted 1 years 308 days ago

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Something New for U.S. Manufacturing: Stability
Has the number of American factories finally stopped its long, painful decline? One economist thinks so. Daniel Meckstroth, chief economist at the Manufacturers Alliance for Productivity and Innovation, a research group in Arlington, Va., regularly does his own calculation of the number of plants based on data from the Bureau of Labor Statistics that tracks factory openings and closings. Even in the darkest days of manufacturing’s long slide, there were factories being built—but their number was far outweighed by the rush to shutter operations. Millions of jobs were lost in the process. But Mr. Meckstroth says he thinks we’re at an inflection point. “After a steady decline that continued for over ten years, we’ve finally flattened out,” he says. From the peak in 1998—when there were 376,000 factories sprinkled across the U.S.—the number fell steadily until about two years ago. However, since late 2012, the number has hovered around 304,000. That’s by far the longest period of stability since before the sector fell on hard times. The Wall Street Journal
Submitted 1 years 308 days ago

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U.S. is urged to prepare better for catastrophic nuclear accidents
WASHINGTON -- America’s nuclear power industry needs to do a better job of planning for rare but catastrophic events such as the Fukushima disaster in Japan, according to a panel of scientists whom Congress ask to make recommendations for nuclear safety. While nuclear design rules have focused on withstanding more predictable problems, it’s the highly unusual but extreme events that have caused the worst accidents in recent decades, such as Chernobyl in 1986, Three Mile Island in 1979 and Fukushima three years ago. More can be done to plan for such events, according to the report released Thursday by the National Academy of Sciences. Miami Herald
Submitted 1 years 308 days ago

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Dollar sizzling, says Big Mac Index
Chew on this, would ya? The U.S. dollar is getting stronger, according to the closely watched – or at least, heavily seasoned index of global currencies known as the Big Mac Index A series of world currencies have weakened against the dollar over the past year, according to the Economist, which puts this really-only-half-joking measure together. The idea is that – all things being equal – the price paid for the same product around the world will tend toward equaling out. The theory is called purchasing-power parity and the index uses the concept – and what it calls the notion of burgernomics – to gauge the relative strengths of different currencies. AJC.com
Submitted 1 years 308 days ago

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What's brewing in Alabama? Mobile poised to tap statewide craft beer boom
MOBILE, Alabama – From Monkeynaut IPA by Huntsville's Straight to Ale LLC on tap to a cold bottle of Gadsden-based Back Forty Beer Co.'s Truck Stop Honey, Alabama-brewed craft beer is certainly no novelty in Mobile restaurants and bars. Why, then, is the popular -- and soon-to-expand -- Fairhope Brewing Co. the only active brewery in southwest Alabama and one of only two south of Montgomery when central and northern Alabama have seen an explosion of activity in the past two years? AL.com
Submitted 1 years 308 days ago

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2 Alabama farmers to be recognized as 'Champions of Change' by the White House
Two Alabama farmers will be recognized as "Champions of Change" this week by the White House and U.S. Department of Agriculture, The Associated Press reports. Tanner-based Bill Bridgeforth and Cullman's Lee Haynes were two of 15 people selected as recipients of the Champions of Change program, which honors "ordinary Americans [who] are doing extraordinary things in their communities to out-innovate, out-educate and out-build the rest of the world," according to the White House website. AL.com
Submitted 1 years 308 days ago

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Clayton Homes opens facility employing 270 in Russellville AL, expects to add 50-70 new jobs
RUSSELLVILLE, Alabama – Nearly 72 hours after the Shoals learned it will lose 200 jobs following the closure of izzy+ in Florence, another company says it has created 270 positions at a new home building facility in Russellville. AL.com
Submitted 1 years 308 days ago

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Economic development is a big game
I see that Gov. Bentley and a cabinet member are entertaining a special legislative session to address an augmented revenue stream for economic development to create jobs to cover the $200 million hole in the General Fund budget. Montgomery Advertiser
Submitted 1 years 308 days ago

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Watch The US Evolve From A Manufacturing Economy To A Health And Social Services Economy
The BLS has just released a neat though slightly unsettling animation showing how the U.S. transformed from a manufacturing-based economy to one relying on health and social services spending for growth. Here's 1990 to 2007. For a brief period retail dominated: Business Insider
Submitted 1 years 308 days ago

 

 

 

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 Mike Randle
The belief that "80 percent of all new jobs come from existing business and industry" is an out-of-date, old-fashioned fabrication. I have no idea how it started, where it started, or who said it first, but there are professionals in economic development as well as leaders of government in the South who actually believe that each year, 80 percent (why 80 percent I don't know, either) of all new jobs are created by existing business and industry. I hear it all the time and I just roll my eyes. There is nothing static in economic development but this: 100 percent of all lost jobs come from existing business and industry. That, and of course 100 percent of the time site consultants never pay for a meal.
 

 Business News in the South - Randle Report

FEATURE     
According to Chinese theory, yin is a passive, negative force and yang is an active, positive force. Chinese philosophers believe that the opposing forces aren't really contradictory. Instead, they are interconnected and complimentary, interacting to create a balance in one's life. 
 
 Nashville Mayour Karl Dean
The Annie E. Casey Foundation's KIDS COUNT report was released in the summer quarter. I try to read it every time it comes out since I find it to be the best indicator of child poverty, a statistic everyone involved in economic development needs to be aware of. The Annie E. Casey Foundation is a charity that supports disadvantaged children. 
 


 

 

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