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US home builder confidence at highest level in 5 years
(AP) WASHINGTON Confidence among U.S. builders rose to the highest level in five years in May, a hopeful sign that modest improvement in the housing market will pick up. The National Association of Home Builders/Wells Fargo builder sentiment index rose to 29 in May. That's the highest reading since May 2007 and up from a downwardly revised reading of 24 in April. The index rose for five straight months before leveling off in March and falling in April. Charlotte Observer
Submitted 1 years 337 days ago

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Report: Oil industry sitting idle on 46 million undeveloped acres
The White House today is pushing back against the oil and gas industry’s claims that the Obama administration is blocking domestic energy development by releasing a new analysis showing that roughly 46 million acres of federal lands and waters leased for drilling are sitting idle. According to the Department of Interior report, set to be unveiled later today, oil and gas companies are actively drilling or have launched development on less than a third of the 36 million acres they have leased offshore. Oil and gas companies have yet to begin developing 56 percent of offshore federal lands that have been leased for drilling, according to the assessment. Those tracts are either not producing or are not subject to exploration or development plans that have been submitted to the federal government, the report says. Houston Chronicle
Submitted 1 years 337 days ago

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Jindal on Obama: He ‘Never Ran a Lemonade Stand’
Louisiana Governor Bobby Jindal, who has endorsed Mitt Romney and is sometimes mentioned as a potential running mate, attacked President Obama on Tuesday and defended Romney's record in business. “President Obama hasn't run anything before he was elected President of the United States,” Jindal said on Fox News’s America’s Newsroom. “Never ran a state, never a business, never ran a lemonade stand.” Jindal contrasted Obama’s record with Romney’s background as the founder of the private equity firm Bain Capital. “In contrast, Mitt Romney has been a successful governor, a successful businessman, he's got the executive experience.” The National Journal
Submitted 1 years 337 days ago

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Boeing demand falls thanks to slow construction
Boeing Co. says a wait of more than three years to deliver new 777 jets is crimping sales of the wide-body aircraft, which has become airlines' top choice for international flights. To meet demand, Boeing plans to boost production of the twin-engine jet to 8.3 per month by the first quarter of next year from seven now. The output increase can't come soon enough for John Wojick, chief of Boeing's North American sales, who called the wait "frustrating" in an interview. "That's probably our biggest challenge in the sales department right now," he said. "To be honest with you, if we could build more today, we could sell more today." Bloomberg via Tulsa World
Submitted 1 years 337 days ago

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Analysis: After decades of outsourcing, manufacturing jobs coming home to US
NEW YORK, New York — Beginning in the 1970s America’s high-paying manufacturing jobs in the steel, textile, electronics and automotive industries relocated first south to Latin America and then east to Asia. In what some dubbed “a global race to the bottom,” labor rights have dwindled all along the way and the American middle class, long sustained by those manufacturing jobs, finds itself gutted. Now the fate of what is left of the American middle class is at the center of a presidential election and forcing a reexamination of the impact of the global decline of labor rights. But after years of pain for America’s manufacturing sector and its workers, some economists and analysts are wondering if the tide may be turning. Call it “re-shoring” or “rebalancing” or just “revenge,” but the dynamics of global labor, transportation and productivity costs that eviscerated American manufacturing over the past decade have begun to shift again. Global Post
Submitted 1 years 337 days ago

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Stop the immigration law rewrite before we get an even worse disaster
Wednesday is the last day of the legislative session, and lawmakers are still dealing with a revision of HB56, the mean-spirited, draconian, anti-immigration law the Legislature foolishly passed last year. Legislature watchers tell me that the bill to "fix" the unintended consequences in the law is now in the hands of state Sen. Scott Beason, R-Gardendale, the co-sponsor of HB56 with state Rep. Micky Hammon, R-Decatur. Lawmakers haven't had a chance to review Beason's revisions, yet, they're going to vote on it. Whatever happens will have to go to a conference committee. This is exactly how HB56 was handled last year, and we know what we got there. (Side gossip: I understand that Hammon and Beason do not get along, and that last week, Hammon was seen yelling about Beason in the House hallway in the State House.) The Birmingham News
Submitted 1 years 337 days ago

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Chiquita likes its Charlotte home, seeks fresh brands
As his company moves to Charlotte, CEO Fernando Aguirre is trying to reshape Chiquita Brands into something more than a purveyor of bananas, an iconic but low-margin fruit. On Monday, during an interview with the Observer, Aguirre said Chiquita is expanding its brand into new products. The company last week reported an $11 million quarterly loss, as the price of bananas – which make up a large share of Chiquita’s revenue – slumped. Chiquita is moving forward with its relocation to Charlotte and has hired more than 100 people locally. The company is planning to transfer about 160 employees, mostly from Cincinnati, and hire about 150 more in Charlotte to bring the total workforce to more than 400. Charlotte Observer
Submitted 1 years 337 days ago

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Charlotte, can Democratic National Convention stay at your house?
Real estate broker Andy Pressley needs homes. Center city condos in particular. One-bedroom, one-bathroom units are ideal, he said. With about three months to go before the Democratic National Convention comes to town, demand for local housing during the event is on the rise, said Pressley, president of MECA Properties. And he expects it to keep growing. “Corporate America is coming to this town. And we need more housing in the center city,” said Pressley, whose firm is helping Fortune 500 companies find lodging for employees. Pressley said he’s leased more than 100 condos and a “couple dozen” single-family homes in or near uptown. Charlotte Observer
Submitted 1 years 337 days ago

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First Atlanta International Terminal Flight Arriving From Ireland
At 2:05 p.m. on May 16, a Delta Air Lines flight from Dublin will bring the first group of passengers through the Atlanta airport's new international terminal. The inaugural arrival will come just a few hours after the $1.4 billion building opens to the public. The flight from Ireland will be greeted with a water-cannon salute, a traditional welcome for milestone flights. Arriving passengers will be processed through a new customs area with large screens mounted above 40 passport lines. Global Atlanta
Submitted 1 years 337 days ago

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Gov. Deal says transportation sales tax needed to sustain Georgia progress
Georgia needs a penny sales tax increase for transportation to sustain growth and progress, Gov. Nathan Deal said Monday. Deal spoke with reporters before attending a Savannah campaign fundraiser for the July 31 ballot measure. The governor called it “one of the most important opportunities the citizens ... of Georgia have had in a very long time.” Deal acknowledged that people don’t like higher taxes. “The question,” he added, “is what is the alternative to keep your area growing and progressive?” Savannah Morning News
Submitted 1 years 337 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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