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Oklahoma oil billionaire Harold Hamm wrote a $975 million divorce check to his ex-wife. She rejected it.
It’s unclear what is more depressing about this situation: Writing a $975 million divorce check or having to turn it down. Oil baron Harold Hamm, the billionaire CEO of Continental Resources and now the subject of a public case study in how not to get divorced if you are filthy rich, hand-wrote the massive check to his ex-wife, Sue Ann Arnall, in their ongoing divorce saga. Washington Post
Submitted 1 years 333 days ago

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Mercedes-Benz USA Seeks Bonds for New Georgia Home: Muni Credit
Mercedes-Benz USA is applying to borrow $93 million through a sale of municipal debt to build its new Atlanta-area headquarters, part of a package of incentives the carmaker may get for leaving New Jersey. Bloomberg
Submitted 1 years 333 days ago

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Elizabeth Warren Says Economy Is 'Rigged' Against Workers
WASHINGTON -- With a celebrity assist from Sen. Elizabeth Warren (D-Mass.), the AFL-CIO union federation hosted what it billed as a national summit on raising wages in D.C. on Wednesday, making its case for progressive labor policies to reduce U.S. income inequality. Huffington Post
Submitted 1 years 333 days ago

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Alabama Democrats: It's OK to scream that you need real leadership: opinion
Any Alabama Democrat that read Kyle Whitmire's column about Alabama Democratic Chair Nancy Worley's holiday letter toilet tragedy just simply wanted to scream. What makes this so horrendous is that this was a politically self-inflicted wound during a time when the party has legitimate ideas and viable solutions to fix a plethora of issues facing the state, most notably Alabama's budget crisis. AL.com
Submitted 1 years 333 days ago

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That's The Randle Report for January 7, 2015
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 1 years 333 days ago

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EXCLUSIVE: Mercedes USA chief says Atlanta HQ relo will help company stay 'competitive for the next 50 years.'
Mercedes-Benz USA will relocate its headquarters to Atlanta this summer — a move that will create about 1,000 jobs and cement the Southeast as the auto industry's center of gravity. For the city, which has been on a growth sprint, landing the German luxury automaker is the largest economic development coup since United Parcel Service Inc. (NYSE: UPS) relocated to the area in 1991. Mercedes' decision to move from sleepy Montvale, N.J. to frenetic Atlanta was about attracting the talent needed to be "competitive for the next 50 years," MBUSA President and CEO Stephen Cannon told Atlanta Business Chronicle in an exclusive interview Tuesday afternoon. Atlanta Business Chronicle
Submitted 1 years 333 days ago

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By the numbers: Mercedes-Benz will save big with move from Bergen to Atlanta
MONTVALE — The lure of lower taxes, a cheaper cost of living, more access to critical transportation networks, key manufacturing plants and about $50 million in incentives has sealed it –– German automaker Mercedes-Benz is departing Bergen County for Atlanta. And with it, potentially close to 1,000 jobs. In an interview with NJ Advance Media following the announcement, Mercedes-Benz CEO Stephen Cannon, a Wyckoff native, said Atlanta won out because of the high quality of life, proximity to universities like the Georgia Institute of Technology and the business climate. He said Governor Chris Christie's administration urged Mercedes-Benz to stay. nj.com
Submitted 1 years 333 days ago

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NJBIZ: Mercedes confirms HQ moving from Montvale to Atlanta
Mercedes-Benz USA on Tuesday announced that it will relocate its corporate headquarters from its 37-acre campus in Montvale to a temporary facility in Atlanta, where it will construct its new state-of-the-art headquarters in 2017. While the move will affect approximately 1,000 employees in New Jersey, several operational areas — including the company’s Parts Distribution Center and Regional Office — will remain in Montvale and Robbinsville. The German luxury automaker plans to begin moving employees starting in July — despite keeping its Montvale-based employees in the dark regarding its relocation plans as of mid-December. njbiz.com
Submitted 1 years 333 days ago

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Mercedes-Benz Moving U.S. Headquarters to Atlanta
Daimler AG is moving down south, uprooting Mercedes-Benz USA’s headquarters from its longtime perch in New Jersey with plans to relocate it to an Atlanta suburb. Wooed by lower costs, proximity to a Mercedes-Benz factory and government incentives, the German luxury car maker in July will begin moving about 1,000 U.S. personnel to a temporary facility and later move to Sandy Springs, Ga. The operation, which includes staff working on the Sprinter van business and the Smart mini car lineup, will permanently move into a new building erected on a 10-acre site in the same city. The Wall Street Journal
Submitted 1 years 333 days ago

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Mercedes moving headquarters from New Jersey to Atlanta
German luxury automobile maker Mercedes-Benz said Tuesday that it's moving its U.S. headquarters from New Jersey to Atlanta, in part to be closer to its manufacturing facility in Alabama. Georgia Gov. Nathan Deal said the company accepted an incentive package from the state but said he couldn't discuss the details yet. The Fulton County Development Authority met briefly Tuesday to discuss its own incentive package for Mercedes' estimated $93 million facility but provided no details. The decision comes after weeks of lobbying — some of it public — by New Jersey officials who sought to keep the company in Montvale, at a campus that's about a five-minute drive from BMW's North American headquarters. AJC.com
Submitted 1 years 333 days ago

 

 

 

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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