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Charlotte-based Big Bank Takes Hit From Massive Legal Fees
Bank of America said Wednesday that its second-quarter earnings were hit by higher litigation expenses. The Charlotte, N.C.-based bank earned $2 billion in the second quarter after payments to preferred shareholders, compared with $3.6 billion in the same period a year earlier, a decline of 43 percent. Huffington Post
Submitted 1 years 344 days ago

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When Companies Break Environmental Laws, Why are Responsible Individuals not Prosecuted?
Tens of thousands of businesses have been caught polluting the air, water or soil, but rarely does the federal government prosecute the leaders of these lawbreakers. Allgov.com
Submitted 1 years 344 days ago

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How Immigrants with Money Can Help Cities Create More Jobs
New York, San Francisco and other traditional immigrant destination cities have long understood that while immigrants seek out American cities as proverbial lands of opportunity, these newcomers also drive economic growth. A recent influx of immigrants is also helping to stabilize declining older industrial cities such as Detroit. Cleveland, Syracuse and Toledo that have been losing residents for decades. As smaller cities across the U.S. are realizing this potential economic impact, many are enacting local initiatives to help draw more immigrants to their communities. Governing.com
Submitted 1 years 344 days ago

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North Carolina Governor Leaving ‘Door Open’ to Medicaid Expansion
North Carolina Gov. Pat McCrory said he’s “open” to Medicaid expansion to cover 500,000 low-income people in his state, but the first-term Republican also insisted on first getting together a plan to manage what have become yearly cost overruns in health care. Governing.com
Submitted 1 years 344 days ago

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Lassiter: North Carolina Eco-devo partnership to start with 25-30 workers
The North Carolina Department of Commerce is in a state of transition with most of its business recruiting and marketing functions being moved to the new non-profit Economic Development Partnership of North Carolina that was signed into law in June. Triangle Business Journal
Submitted 1 years 344 days ago

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VW center, workers coming to downtown Chattanooga
Powering up its presence in downtown Chattanooga, Volkswagen plans to work with the city and Hamilton County to erect a $12 million welcome center. Some personnel from VW's planned research and development center also can expect to work downtown, bolstering a planned innovation district. Knoxnews.com
Submitted 1 years 344 days ago

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VW Announces New U.S.-Built SUV But Has Catching Up To Do
Volkswagen finally let the long-awaited other shoe drop in the U.S. market as the company committed to building a new sport-utility vehicle at its Chattanooga, Tenn., complex to fill a gaping hole in its product lineup for the American market. Forbes
Submitted 1 years 344 days ago

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An inside look at Boeing's space taxi
Tony Castilleja wasn't even born when the space shuttle program began. Now, the 27-year-old engineer is hoping to build its replacement. He'd also like to fly inside it someday. "All of us want to," he said. Castilleja is working on the Boeing CST-100, which stands for Crew Space Transportation vehicle. Its purpose is to ferry crew and cargo into low Earth orbit. A prototype stands inside a facility in Houston, not far from Johnson Space Center. CNBC
Submitted 1 years 344 days ago

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Philly Fed factory growth activity surges in July
Factory activity in the U.S. mid-Atlantic region accelerated in July at its fastest pace in more than three years, handily beating expectations, a survey showed on Thursday. CNBC
Submitted 1 years 344 days ago

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Corporate Tax Inversions Will Cost U.S. Billions — and We’ll All Pay
The hottest trend in corporate America could prove to be extremely costly for the United States. Chicago-based pharmaceutical company AbbVie, with its pending $53 billion takeover of Irish drugmaker Shire, is just the latest American company to acquire a smaller overseas competitor at least in part to capture the tax benefits of reincorporating abroad. The Fiscal Times
Submitted 1 years 344 days ago

 

 

 

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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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