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Nucor expects St. James, La., plant profit by year-end
A three-week outage at Nucor Corp.’s St. James Parish plant lowered the company’s second-quarter results, but Nucor still saw second-quarter earnings jump to $147 million, or 46 cents per share. A year earlier, Nucor reported earnings of $85.1 million, or 27 cents per share. The St. James direct reduced iron plant was undergoing adjustments expected to improve yield and conversion costs, according to Nucor. The plant will use natural gas to make high-purity pellets from iron ore. Nucor will mix the pellets with scrap metal to make steel. The plant is already producing a greater volume of reduced iron than the company expected. The Advocate
Submitted 1 years 307 days ago

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Boeing's unfinished work on S.C.-built 787s drops 30 percent in second quarter
The amount of unfinished work on the Boeing 787 Dreamliner declined significantly during the second quarter of 2014, a company official said Wednesday during an earnings update. "Traveled work has declined by 30 percent since this time last quarter," finance chief Greg Smith said. Traveled work consists of parts that remain uncompleted at one location when they are scheduled to be shipped and require finishing at another site. That was a huge problem for the North Charleston campus earlier this year, when workers couldn't meet assembly time lines and were sending too many unfinished 787 fuselage sections to Everett, Wash. Boeing had to bring in contract workers to beef up production and get the program back on track. Post and Courier
Submitted 1 years 307 days ago

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New Data Show Faster Job Growth in States With Higher Minimum Wage
New data show that the 13 states that raised the minimum wage this year are adding jobs at a faster pace than those that did not. State-by-state hiring data released Friday by the Labor Department reveal that in the 13 states that boosted minimum wages at the beginning of this year, the number of jobs grew an average of 0.85 percent from January to June. The average in the other 37 states was 0.61 percent, the Associated Press reports. The findings could undermine the argument that raising the minimum wage hurts job growth, a view held by major conservative lobbies. The Congressional Budget Office reported earlier this year that a minimum wage of $10.10 could bring 900,000 people out of of poverty, but would cost 500,000 jobs nationwide. TIME
Submitted 1 years 307 days ago

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Across US job market, layoffs are becoming rare
WASHINGTON — The risk of losing your job is getting smaller and smaller. As the U.S. economy has improved and employers have regained confidence, companies have been steadily shedding fewer workers. Which is why applications for unemployment benefits have dwindled to their lowest level since February 2006 — nearly two years before the Great Recession began — the government said Thursday. The trend means greater job security and suggests a critical turning point in the economic recovery. It raises the hope that workers' pay will finally accelerate after grinding through a sluggish recovery for the past half-decade. When the economy sank into recession at the end of 2007, employers cut deeply into their staffs. And then during the recovery, they hired only hesitantly. Instead, they sought to maximize the productivity of their existing employees. But in recent months, the picture has brightened. Employers have added 200,000-plus jobs for five straight months, and the unemployment rate has reached 6.1 percent, the lowest since 2008. Raleigh News & Observer
Submitted 1 years 307 days ago

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Obama takes aim at ‘corporate deserters’
With other pieces of his economic agenda such as a minimum wage increase stalled, President Obama turned his attention to corporate taxes Thursday and said U.S. businesses should be concerned not just with profits but also with being “good corporate citizens.” During a speech in Los Angeles and an interview with CNBC, the president said it was unpatriotic, comparable to renouncing one’s citizenship, and harmful to the U.S. economy for businesses to set up headquarters overseas in order to avoid America’s high corporate tax rate. At 35 percent, the U.S. rate is the highest among the world’s major developed nations. Mr. Obama didn’t single out any specific companies, but said the whole of corporate America cannot focus only on the capitalist pursuit of higher profits. He conceded, however, that the practice of headquartering abroad to pay less in taxes is, for now, “technically legal.” Washington Times
Submitted 1 years 307 days ago

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Elon Musk Has A Radically Different Idea Of How Commercial Planes Should Take Off And Land


Business Insider
Submitted 1 years 307 days ago

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5 Fast-Growing Small Business Industries
If you’re an entrepreneur looking to start a business, focusing on some of the fastest-growing small business industries such as architecture, employment services and computer services could make your venture a success. The Fiscal Times
Submitted 1 years 307 days ago

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Mexico Lashes Out At Rick Perry Over His Border Proposal
As Western Journalism reported, Texas Gov. Rick Perry is prepared to act without federal assistance to secure his state’s porous border with Mexico. He recently announced a plan that would put as many as 1,000 Texas National Guard members along the most vulnerable points of entry, a move widely celebrated by Texans – and Americans in general – who want to see the nation’s immigration laws enforced. Westernjournalism.com
Submitted 1 years 307 days ago

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Some tech firms got cash from Rick Perry's startup fund but created jobs outside of Texas
AUSTIN — Texas Gov. Rick Perry has distributed $205 million in taxpayer money to scores of technology startups using a pet program designed to bring high-paying jobs and innovation to the nation’s second-most-populous state. But a closer look at the Texas Emerging Technology Fund, one of Perry’s signature initiatives in his 14 years as governor, reveals that some of the businesses that received money are not all they seem. One actually operates in California. Some have stagnated trying to find more capital. Others have listed out-of-state employees and short-term hires as being among the jobs they created. Dallas Morning News
Submitted 1 years 307 days ago

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Why nurses are the new auto workers
CAR manufacturing was the defining industry of the 20th century. In the 21st it is health care. Health spending comprised 17% of America’s GDP in 2012. About one in ten workers are employed in the health sector. These workers have the crucial job of making American health care more efficient, probably the country’s top domestic challenge. Those who are not doctors have a particularly important role—nurses and lesser-trained workers can monitor and care for patients out of hospital, which should result in better quality of life for patients and lower costs for everyone else. But just as the car industry was the 20th century’s main battleground for fights over labour, it is increasingly clear that health workers will be at the centre of the latest bitter conflict. Economist.com
Submitted 1 years 307 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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