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Manufacturing expands unexpectedly as orders rise
Stocks surged, rebounding from the worst weekly drop in four months, as U.S. manufacturing unexpectedly expanded. Spanish bonds gained with the euro as stress-test results bolstered confidence in Spain’s banking system. Gold touched the highest price since November. The Standard & Poor’s 500 Index (SPX) rose 0.8 percent and the Stoxx Europe 600 Index gained 1.4 percent at 12:42 p.m. in New York. Spanish 10-year yields declined a third day, slipping six basis points to 5.88 percent. The euro advanced against all 16 major peers. The S&P GSCI gauge of commodities swung between gains and losses. Gold futures pared gains after rising as much as 1.2 percent to $1,794.40. Treasuries were little changed. Bloomberg
Submitted 2 years 18 days ago

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US shale gas drilling boom could have political fallout
(AP) The Kremlin is watching, European nations are rebelling, and some suspect Moscow is secretly bankrolling a campaign to derail the West's strategic plans. It's not some Cold War movie; it's about the U.S. boom in natural gas drilling, and the political implications are enormous. Like falling dominoes, the drilling process called hydraulic fracturing, or fracking, is shaking up world energy markets from Washington to Moscow to Beijing. Some predict what was once unthinkable: that the U.S. won't need to import natural gas in the near future, and that Russia could be the big loser. Charleston Daily Mail
Submitted 2 years 18 days ago

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Tanker's arrival for Eagle Ford crude a good sign for South Texas, nation, port officials say
CORPUS CHRISTI — A symbol of Eagle Ford Shale's impact on the U.S. economy has arrived at the Port of Corpus Christi. The M/V Pennsylvania cruised through the Harbor Bridge gateway to the inner harbor Wednesday afternoon and, with the help of pilots, docked at the port's Oil Dock No. 1. Tanker arrivals are not an uncommon occurrence, but this vessel is anything but ordinary. The Pennsylvania was made in America and is registered under the U.S. flag. The designation allows the tanker to operate under the Jones Act, or the 1920 law that mandates all goods moved by water between U.S. ports can only be carried by tankers under the U.S. flag. That is perfect for the reason the tanker has made its first-ever visit to Corpus Christi. At 601 feet long and 105 feet at its widest point, the tanker has a capacity of 330,000 barrels of petroleum products, the Pennsylvania will load Eagle Ford Shale crude and transport it to American markets, port officials said. Corpus Christi Caller Times
Submitted 2 years 18 days ago

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Shale play is engine of growth for rail
HONDO, Tex. — A few years ago, this was a cotton field distinguishable only for its location along a railroad track and a bucolic view of the Hill Country in the distance. This year, an estimated 15,000 rail cars will move through Hondo Railway’s 175-acre property — many of them carrying fracturing sand bound for drilling operations in the Eagle Ford Shale formation. All across South Texas, rail yards are adding track to service the shale drilling boom happening in a 20-county swath of the state, stretching from the border toward East Texas. “We didn’t know the Eagle Ford Shale was coming,” said Miles Lee, chief operating officer of Hondo Railway. “It just kind of fell in our lap.” Houston Chronicle
Submitted 2 years 18 days ago

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Comair’s demise reflects changing airline partnerships
The shutdown of Comair, a regional carrier that Delta Air Lines once paid $2 billion to buy, reflects changing economics in the airline industry and the complicated relationships between major carriers and regional partners. Erlanger, Ky.-based Comair’s death was a result of high fuel costs that made its 50-seat regional jets too expensive to fly and high labor costs that made it difficult to compete with other small carriers. Saturday morning brought the last flight for Comair, a subsidiary of Atlanta-based Delta that flew under the Delta Connection brand. It marked the end for an industry pioneer that helped spearhead the introduction of the 50-seat regional jets that replaced most turboprops in the 1990s. Atlanta Journal-Constitution
Submitted 2 years 18 days ago

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Hemlock Semiconductor to create up to 800 jobs
CLARKSVILLE, TENN. — A multibillion dollar semiconductor may begin producing a critical base component in solar energy panels starting in 2013. Hemlock Semiconductor Director of Contract Manufacturing Terry Strange says construction has gone well on the $1.2 billion first phase of the project being built in Clarksville. Strange told The Leaf-Chronicle the key has been investments made by local and state government in procuring and preparing land with infrastructure. Strange, who is moving to Louisville, Ky., says it was a risk involving millions of taxpayer dollars, but the local leadership made the right decision under considerable scrutiny. The plant, which will produce polycrystalline silicon for solar cells and semiconductor chips, is projected to begin operations this year and employ between 500 and 800 people in specialized and technical jobs. The Tennessean
Submitted 2 years 18 days ago

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Hemlock Semiconductor eyes Tennessee plant production launch early in 2013
CLARKSVILLE, TENN. — Transforming the Buck Teeter family’s northeast Montgomery County farm fields into one of the Southeastern United States’ most impressive industrial complexes is a process that has already consumed close to three years. Modernly designed administrative offices flanked by a long series of warehousing, laboratories, lofty silos and shimmering steel make this plant appear, from a distance, to look like a small and futuristic city – and in many respects, it is just that. Soon, the first 500 employees of the $1.2 billion first phase of Hemlock Semiconductor LLC will begin manufacturing polycrystalline silicon, a critical base component in solar energy panels. Knoxville News-Sentinel
Submitted 2 years 18 days ago

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Florida plaintiffs seek extension of spill settlement deadline
As a Nov. 1 deadline looms, some plaintiffs say they need more time to decide whether to participate in a proposed class action settlement in the 2010 Deepwater Horizon rig explosion and oil spill. Three Florida plaintiffs are asking a federal judge to extend the deadline for opting out, saying they can't evaluate the deal because a court-supervised facility for paying claims hasn't made enough settlement offers. Much later? Triton Diving Services, Dauphin Island Property Owners Association and Recreation Investments are asking for the opt-out deadline to be replaced with one that would allow plaintiffs to opt out at a much later stage of the spill-related litigation. Houston Chronicle
Submitted 2 years 18 days ago

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U.S. is producing more, but costs remain high
It only took about three months for the new refuse service in Spring Hill in Hernando County to get my Monday and Thursday trash pickups and Friday recycling collection working smoothly. The new service seems to be functioning acceptably these days. I do notice differences. Real differences. Tampa Bay Times
Submitted 2 years 18 days ago

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Tennessee Galvanizing To Expand Jasper Facility
The Tennessee Department of Economic and Community Development Tuesday announced Tennessee Galvanizing’s decision to expand its Jasper facility at 1535 Industrial Blvd. The expansion represents an investment of $2.3 million and the creation of 35 manufacturing jobs. Chattanoogan
Submitted 2 years 18 days ago

 

 

 

Features & Opinion

 Top Ten Places in the South for Relocating California Companies

The America South is home to almost as many residents as the Northeast and the Midwest combined, but even that statistical record is about to be broken. According to a new Census Bureau study that came out in April, 51 percent of the nation's population jump occurred in the South from 2010 to 2013.
 

 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     
This is our annual "Made in the South" issue and it's timely because there is a new player in the South's manufacturing universe. For almost two decades, economic developers and politicos in the South and the U.S. have been chasing Chinese projects with little or nothing to show. Want proof we've been chasing ghosts in China for years? Okay, go ahead and name a Chinese brand that's made in the South? Tick. . .tick. . .tick. Give up?
 
 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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