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Raytheon lands $116 million contract for Patriot improvements, some work to be performed in Huntsville
Raytheon Co. has received a $116 million Army contract for engineering services on the Patriot Air and Missile Defense System. al.com
Submitted 2 years 15 days ago

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Gulf Shores looks to gauge future of Hangout Festival through economic study. $30M impact?
GULF SHORES, Alabama -- In late 2010, coming off the inaugural $3 million Hangout Music Festival and trying to rebound from the BP oil spill, the City Council gave festival organizer and founder Shaul Zislin the green light to hold the event for the next five years on Gulf Shores’ public beach. al.com
Submitted 2 years 15 days ago

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That's The Randle Report for Tuesday, June 18, 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. Also, click on the Sports tab above for all of the South's sports news in real time. Click on the headline to access Southern Business & Development magazine.
Submitted 2 years 15 days ago

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Bobby Jindal: GOP needs action, not navel-gazing
We’ve had enough. Yes, we just lost our second straight presidential election to Barack Obama. Yes, losing is painful and has consequences. Yes, when you lose, you make adjustments. Enough already. Let’s get on with it. Yes, we have plenty of changes to make. I’ve offered a list of seven ideas for change, former Gov. Jeb Bush has offered substantive thoughts, as have Senators Rubio, Johnson, Paul, and others. The points these gentlemen have made are sensible and merit serious discussion. And it should go without saying that we should continually challenge our own assumptions and evaluate our standing. But excessive navel gazing leads to paralysis. At present it looks as if the entire Republican party needs to go to counseling. It’s really getting embarrassing, all these public professions of feelings of inadequacy. Every day it seems another jilted high-placed Republican in Washington is confessing to the voters; “It’s not you, it’s me…” Politico
Submitted 2 years 15 days ago

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Bobby Jindal tells 'bedwetting' GOP to man up
In his latest tirade against the Republican "party of stupid," Louisiana Gov. Bobby Jindal has written an op-ed in Politico that rails against what he paints as the right's inability to stick up for its own conservative values. Instead of trying to mold to the current political landscape, the Baton Rouge native tells his party to wait it out until voters come back to the GOP brand of conservative politics. "We are the conservative party in America -- deal with it. We have a lot of dissenting voices. So what? Deal with it. The American public waxes and wanes. Fine. It will wax again soon enough," Jindal wrote in the Tuesday op-ed. "At some point, the American public is going to revolt against the nanny state and the leftward march of this president. I don't know when the tipping point will come, but I believe it will come soon," he added. Times-Picayune
Submitted 2 years 15 days ago

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Rick Perry attempts to one-up Gov. Andrew Cuomo
Texas Gov. Rick Perry is no fool, although at times he appeared to play one on the campaign trail last year when he was running for president. Gov. Andrew Cuomo has been touting his New York "Open for Business" campaign to try to convince the world the state is not where businesses go to die. Perry's campaign is called Texas "Wide Open for Business," in what appears to be an attempt to one-up Cuomo. But can you blame Perry? Texas has no income tax. Cuomo recently launched his Tax-Free New York Plan to give businesses that locate on SUNY campuses a tax-free holiday for 10 years. But as is always the case in New York, those who locate in these tax-free zones would face a barrage of rules, including approval by a special board. Albany Times-Union
Submitted 2 years 15 days ago

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Connecticut media covers Texas Gov. Rick Perry’s visit there to court companies
Texas Gov. Rick Perry cast his trip to Connecticut this week as good, old-fashioned competition, not job poaching. He arrived in Connecticut on Sunday and visited Hartford and Stamford, the hometown of Connecticut Gov. Daniel P. Malloy (and where he was mayor for 14 years). The Greenwich Time wrote about Perry’s visit as did the Hartford Courant. Perry attempted to court Connecticut gun manufacturers that have threatened to leave since the state passed tough gun-control laws this year in response to the shooting at Sandy Hook Elementary School in Newtown, Conn. He’s in New York today. Last week, Perry launched a $1 million radio and television advertising campaign in the two states, pitching Texas’ strong job creation, no income tax and other benefits. TexasOne, a privately-funded marketer, is paying for the ads and Perry’s trip. Dallas Morning News
Submitted 2 years 15 days ago

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Alabama looking to fulfill aerospace ambitions at Paris Air Show
Montgomery Mayor Todd Strange’s first trip to the Paris Air Show could have gotten off to a better start. Slowed by a downpour, the Montgomery contingent arrived three hours late Monday and nearly missed the first of several industry recruitment meetings. “We were a little late, but we did get there,” Strange said. It was the start of a busy day that included a visit with GKN Aerospace, which operates a facility in Tallassee. That plant produces components used by Airbus and others. It was last expanded in 2005, pouring $20 million into the facility and adding 250 jobs. Area officials are optimistic that more investment could be on the way as Airbus builds a new assembly plant in Mobile. Montgomery Advertiser
Submitted 2 years 15 days ago

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Robust Housing Shores Up Economy in U.S. With Little Inflation to Speak Of
Builders began work on more U.S. houses in May and permits for new single-family homes rose to a five-year high as residential real estate underpins an economy that’s generating little inflation. Housing starts climbed 6.8 percent, less than forecast, to a 914,000 annualized rate from a revised 856,000 in April, Commerce Department figures showed today in Washington. Applications for one-family home construction increased to a 622,000 pace, the fastest since May 2008. Data from the Labor Department showed May consumer prices rose less than projected. Building permits that exceed the pace of ground-breaking signal further construction gains that will propel growth as manufacturing cools and federal budget cuts take hold. Inflation below the Federal Reserve’s 2 percent goal gives policy makers the leeway to address joblessness as they consider at their meeting today and tomorrow when to dial down record monetary stimulus. Bloomberg
Submitted 2 years 15 days ago

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Could demand snap automotive supply chain?
A combination of rebounding sales and an unprecedented number of new models in the works has stretched the auto parts supply chain so taut that the entire industry is holding its collective breath that it does not snap and jeopardize the recovery. New car sales are on pace to exceed 15 million in the U.S. this year and as many as 85 million globally. A record 500 vehicle launches are expected by 2016. “Everyone has parts shortages,” said Carla Bailo, who heads Nissan Americas’ research and development in Farmington Hills, Mich. “The supply chain is one of our biggest threats. Everyone cut back and is now ramping up. We can’t get up to speed as quickly as in the past.” The Tennessean
Submitted 2 years 15 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 Stacy Randle
Demographer Wendell Cox recently analyzed the largest gains in holders of bachelor's and post-graduate degrees between 2007 and 2012 in the 51 metro regions in the U.S. of 1 million residents or more. The results were published in Forbes magazine and the South dominated the ranking.
 

 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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