Bookmark and Share Business News in the South from The Randle Report

 

Sign up for Randle Report Daily Emails for all The South's Business and Political News Follow Randle Report on Facebook for Business News in the South Follow Randle Report on Twitter for all The South's Business and Political News

 

 
-2
Likes

American Council of Employees criticizes VW labor policy
The American Council of Employees is sharply criticizing Volkswagen in Chattanooga, saying its new labor policy is purposely favoring the rival United Auto Workers. ACE said it has submitted hundreds of signed "revocation statements" which signified employee intention to revoke any prior authorization of representation by the UAW. But it said VW declined to recognize the revocation statements. ACE said VW indicated the recent verification of UAW membership was based solely on a random sampling from an unsubstantiated list of employee names, without any requirement for supporting documentation or employee signatures. Chattanooga Times Free Press
Submitted 1 years 333 days ago

13
Likes

Volkswagen Pinning Hopes of Recovery in U.S. on New SUV Line to be Built in Tennessee
BERLIN— Volkswagen AG Chief Executive Martin Winterkorn said last year his company needed just one thing to succeed in the U.S.: “More SUVs.” Next week, Mr. Winterkorn is expected to present VW’s road map for developing a new line of sport-utility vehicles that will be launched in the U.S. and other major markets over the next three years. The project aims to put VW’s stamp on one of the fastest-growing vehicle segments, according to people familiar with the situation. Mr. Winterkorn will premiere at the North American International Auto Show a concept of a 5-seat, midsize SUV it is considering developing under the name CrossBlue. The company is preparing to start production of a 7-seat CrossBlue in Chattanooga, Tenn., next year. The sportier 5-seat version could start production in Chattanooga as soon as 2017, the people said. The Wall Street Journal
Submitted 1 years 333 days ago

7
Likes

2014 in review: Louisiana mega-projects mount on horizon
Louisiana continued to see progress among previously announced mega-projects, as well as a few new announcements for the massive manufacturing facilities. All are capitalizing on plentiful supplies of cheap natural gas and a built-in infrastructure. In 2014, Louisiana announced dozens of company expansions or relocations that officials said will result in more than 8,200 new direct jobs and 17,000 spin-off jobs, with more than $16 billion in new capital investment. The Louisiana Economic Development Department noted last week that the state scored wins in traditional industries, such as energy and manufacturing, but also growth industries such as digital media and software development, along with emerging logistics and international commerce projects. The largest project to receive the go-ahead was Sasol Ltd.’s $8.1 billion ethane cracker near Lake Charles. The Advocate
Submitted 1 years 333 days ago

3
Likes

War machines, space exploration and Michoud's role in history: Timeline
The Michoud Assembly Facility in eastern New Orleans is set to take on its largest NASA project to date with the construction of the main stage of the Space Launch System, one of many milestones for the decades-old manufacturing site. Here is a timeline of key moments in Michoud's history. NOLA.com
Submitted 1 years 333 days ago

13
Likes

From Michoud to Mars: New Orleans workers building NASA's next generation spacecraft
When Kelley Easley first arrived at the NASA Michoud Assembly Facility in 1982 everything was big. Bigger than anything he had ever seen. Easley was a young Louisiana State University engineering graduate hired to work on mechanical design for the NASA Space Shuttle external tank. The 43-acre eastern New Orleans facility was so large it was easy to get lost. Easley relied on the numbered columns inside to tell where he was. He saw giant tools in action every day, some the size of a small building. He was in awe the first time he saw a completed 35-ton tank roll out. "It used to be the external tank was the largest structure we could ever imagine in here," Easley said. Not anymore. NOLA.com
Submitted 1 years 333 days ago

12
Likes

Japan’s Daikin to Build $410 Million Air-Conditioner Factory Near Houston
A Japanese maker of air conditioners said it would build a $410 million factory near Houston, in a bet that energy-efficient Japanese-style units can take share from American designs. Daikin Industries Ltd. said the factory, set to start operating in early 2016, would expand the capacity of its U.S. subsidiary, Goodman Global, and serve as a hub for Osaka-based Daikin to try to spread the technology it sells at home. As it opens the new site, in Hockley, Texas, Goodman plans to close other sites in Texas and Tennessee. While Daikin plans no layoffs, about 3,000 employees in Texas and 1,000 in Tennessee will be asked to relocate, and there will be no net addition of jobs, the company said. The Wall Street Journal
Submitted 1 years 333 days ago

0
Likes

Japan’s Big Firms Celebrate Cheaper Crude
TOKYO—Japanese corporate leaders on Tuesday welcomed the recent plunge in oil prices, saying it would bolster Japan’s faltering economic recovery even as it roils global financial markets. While the Nikkei Stock Average fell 3% on the second day of trading in 2015 after a selloff in energy shares on Wall Street, many Japanese executives said the oil-price decline would lift consumer-spending power and corporate profits. That, they said, could reinvigorate Prime Minister Shinzo Abe ’s economic-turnaround program, after a sales-tax increase in the country last April tipped Japan into recession. “It is enormously positive for the Japanese economy,” said Takashi Hibino , president of Daiwa Securities Group Inc., speaking at a traditional New Year’s reception hosted by business lobbying groups. “There are no negatives for our economy.” The Wall Street Journal
Submitted 1 years 333 days ago

3
Likes

Will Oil Continue to Fuel the Jobs Market?
Friday’s jobs report may offer some early hints about the impact of falling oil prices on jobs in the oil and gas industry. The U.S. energy boom has been an engine of growth through a lackluster economic recovery, creating thousands of jobs that pay above-average wages, spawning demand for a broad array of services and supporting local economic booms from North Dakota to Texas. But with oil prices dipping below $50 a barrel, exploration and production companies are slashing budgets and squeezing suppliers. The Wall Street Journal
Submitted 1 years 333 days ago

15
Likes

Deep Debt Keeps Oil Firms Pumping
American oil and gas companies have gone heavily into debt during the energy boom, increasing their borrowings by 55% since 2010, to almost $200 billion. Their need to service that debt helps explain why U.S. producers plan to continue pumping oil even as crude trades for less than $50 a barrel, down 55% since last June. But signs of strain are building in the oil patch, where revenue growth hasn’t kept pace with borrowing. On Sunday, a private company that drills in Texas, WBH Energy LP, and its partners, filed for bankruptcy protection, saying a lender refused to advance more money and citing debt of between $10 million and $50 million. Neither the Austin-based company nor its lawyers responded to requests for comment. The Wall Street Journal
Submitted 1 years 334 days ago

8
Likes

Boeing Delivers Record Number of Jets in 2014
Boeing Co. on Tuesday reported record annual orders and deliveries of its commercial jetliners alongside a drop in deal cancellations, easing investor concerns about a market bubble as the company prepares for another boost in production. The world’s largest aerospace and defense company by sales secured net new orders for 1,432 jets last year, surpassing the previous peak set in 2007 and the 1,355 it recorded in 2013. Rival Airbus Group NV is scheduled to report its 2014 tally next week. Boeing and Airbus are boosting production of existing jets and preparing to introduce new models at a time when some of their largest customers have started to pare growth because of overexpansion or economic pressures. But Boeing said requests to cancel or defer deliveries of new planes remain at historically low levels. The Wall Street Journal
Submitted 1 years 334 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.
 


 

 

500x80: http://www.opportunitylouisiana.com/louisiana-works-with-you/?utm_source=sbd&utm_medium=dis
Southern Business & Development Southern Auto Corridor Small Town South Randle Report

Copyright ©2016 Randle Report
All of the South's Business and Political News in One Place
Login