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Army aims to cut 25 percent from its budget; 'the money is gone'
Almost every facet of Army operations will be impacted by a new directive aimed at identifying where the service can cut 25 percent from its budget and personnel costs at the headquarter level. AL.com
Submitted 2 years 8 days ago

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That's The Randle Report for Monday, August 19, 2013
Join us again tomorrow 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 2 years 8 days ago

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Little Rock tops list of best places to live
What makes a city a great place to live? By Kiplinger's definition, good jobs, reasonably priced homes, decent schools, great health care and manageable size are all part of the mix. We started with metro areas that have a population of 1 million or less and came up with a list of cities that met those criteria. Then we whittled the list to 10 cities and sent staff members to each one to find the ingredients that make them special. Little Rock, Ark., our No. 1 pick, has something for everyone. Set between the Ouachita Mountains and the Arkansas River and known for its rolling hills and ubiquitous trees, Little Rock offers far more than a lovely setting. It is the capital of Arkansas and its largest city, as well as the state center of business, health care and culture. Tulsa World
Submitted 2 years 8 days ago

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Gulf oil spill settlement payment offers rise to $4.4 billion
The administrator of last year’s civil settlement between BP and thousands of victims of the 2010 Gulf of Mexico oil spill said Wednesday he has now offered $4.44 billion in payments to claimants, up about $470 million from a month ago. According to the report filed in federal court in New Orleans by claims administrator Patrick Juneau, some 53,309 eligibility notices have gone out with the offers, a per-claim average of about $83,000. BP is awaiting word from a federal appeals court on its challenge to the way Juneau is calculating payments to claimants reporting business economic losses. In his latest report, Juneau says the total includes $2.67 billion on 10,516 business economic loss claims, a per-claim average of roughly $254,000. Houston Chronicle
Submitted 2 years 8 days ago

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Texas job churn results in net job gains since late 2009
New government data shows that Texas has a “very large amount of churn in the labor market” to produce a small net employment change in any given period. For example, Texas private employers added 551,309 jobs from September-to-December 2012, but 451,336 were lost in the same period, resulting in a net gain of 99,973 jobs, according to the first Texas Business Employment Dynamics report released today by the U.S. Bureau of Labor Statistics’ Southwest Information Office. The fourth-quarter 2012 net gain was the largest since the end of 2007. Dallas Morning News
Submitted 2 years 8 days ago

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Miss. unemployment rate falls as labor force dips
Mississippi's unemployment rate fell by a half percentage point to 8.5 percent in July, hitting lowest level in more than four years, but only because the state's labor force shrank. A separate survey showed state employer payrolls fell slightly. Both sets of figures — adjusted to cancel out normal seasonal changes — were released Monday by the federal Bureau of Labor Statistics. It's the lowest state jobless rate since February 2009. Mississippi's unemployment rate was 9 percent in June and 9.3 percent in July 2012. Clarion-Ledger
Submitted 2 years 8 days ago

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Three years in the making, Southwest Louisiana's SEED partnership open for business
The Southwest Louisiana Entrepreneurial and Economic Development Center, three years in the making, opened its doors Friday. The SEED Center, built on eight acres of land across from McNeese, is designed to foster businesses and entrepreneurs and aid economic development in the five-parish area. “This is truly a dream come true and a vision I’ve shared with this community for many, many years,” said U.S. Sen. Mary Landrieu, who attended the ribbon-cutting event. “I really try to focus in on the things that I can do to push resources to the areas that need it the most.” Gov. Bobby Jindal, who was also present, said the facility will help the region “build on this great momentum that we’ve seen not just in Southwest Louisiana but across the entire state.” Lake Charles American Press
Submitted 2 years 8 days ago

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La. gains 23,400 jobs over 12 months through July
Total nonfarm employment in Louisiana grew by 23,400, or 1.2 percent, to 1,942,300 jobs in the 12 months that ended in July, according to seasonally adjusted data from the federal Bureau of Labor Statistics. The state saw its 35th consecutive month of jobs growth in the private sector, but a loss of government jobs. Louisiana’s private sector grew by 29,600 jobs, or 1.9 percent, during the 12-month period. The Advocate
Submitted 2 years 8 days ago

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Louisiana exports hit record $29B for six-month period
NEW ORLEANS (AP) — Louisiana's worldwide exports increased 3.4 percent to a record $29.0 billion in the first six months of 2013, compared to the same period in 2012. The World Trade Center of New Orleans said Louisiana's principal export markets through the second quarter were Mexico, $3.26 billion; China, $2.58 billion; and Singapore, $1.53 billion. They were followed by Japan, Canada, Brazil, the Netherlands, Panama, Egypt and France. Lake Charles American Press
Submitted 2 years 8 days ago

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Japan tops list of jobs created by foreign investment in Alabama
A new report breaks down the jobs created by foreign-owned companies in Alabama, with Japan topping the list. The report from Business Roundtable shows companies based in Japan employ 13,500 people in Alabama. Germany is next, with 10,900 jobs, followed by the United Kingdom, with 10,300 jobs. The numbers aren't surprising, as two of Japan's top manufacturers -- Honda and Toyota -- have operations in the state, along with significant supplier networks. Honda has a 4,000-worker auto assembly plant in Talladega County, while the work force at Toyota's Huntsville engine plant numbers about 1,000. AL.com
Submitted 2 years 8 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     
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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