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America's shrinking middle class is killing the economy
The middle-income class is hollowing out, and it's hurting US economic growth. Only about a quarter of a percent of US households have climbed up the ladder from the middle class into the upper-income bracket since 2000, according to the latest review by the IMF. Meanwhile, more than 3% of middle-income households have moved into the low-income bracket. That's a flip from the trend between 1970 and 2000, where middle-income households were more likely to move upward. Business Insider
Submitted 4 hours ago

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Manufacturing Report Card: Which States Made the Grade?
The 2016 Manufacturing & Logistics Report Card, conducted by Conexus Indiana for the Ball State University Center for Business and Economic Research, shows how each state ranks among its peers in several categories that are of particular interest to site selection experts for the manufacturing and logistics industries. Industryweek.com
Submitted 4 hours ago

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Texas Gets $50 Million in Massive Volkswagen Settlement
Volkswagen has agreed to pay Texas $50 million in connection with the German automaker's admitted peddling of diesel vehicles rigged to surpass emissions limits, Attorney General Ken Paxton announced Tuesday. Texas Tribune
Submitted 4 hours ago

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Naval Base's Economic Impact is $6.6 Billion for Fort Worth
FORT WORTH -- State Comptroller Glenn Hegar was in Fort Worth on Monday, touting the economic impact of Naval Air Station Joint Reserve Base Fort Worth, which he says contributes $6.6 billion to the economy last year. "The economic impact is significant," Hegar said during a news conference at the Fort Worth Club. "If you live right next to the naval base, you understand it. If you're a little bit farther away in Fort Worth, you know it's here but you probably don't appreciate it." Military.com
Submitted 4 hours ago

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Software firm Nexius relocates HQ to Frisco TX
Nexius, a software, data analytics and virtualization firm, has shifted its head office from Allen to Hall Park in Frisco. The company has relocated to 2595 Dallas Parkway, near Gaylord Parkway. "As a company with a workforce that combines creative and technical talent, it was important for Nexius to locate its headquarters in a dynamic, growing and culturally diverse city like Frisco," Mark Baysinger, president of Nexius, said in a statement. "The energy in Frisco and North Texas complements the pace of our business, while also enabling our team members to enjoy a work-life balance that is important to retention and growth." Dallas Morning News
Submitted 4 hours ago

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The business community is the driving force behind North America’s economic strength
On June 29, President Obama, Prime Minister Trudeau, and President Peña Nieto will meet in Ottawa for a North American Leaders Summit (NALS). While often ignored or criticized, America’s relations with Canada and Mexico touch the daily lives of more U.S. citizens than any other relationships in the world. Positive, productive relations among neighbors will help generate the well-being and economic growth our citizens seek. What’s more important, we can now justifiably say that the peoples of the three countries are partners in ways that have never before been seen. In Ottawa, North America’s leaders can show the way to a more prosperous continent and seek to partner with the many stakeholders who stand to gain, especially the private sector that created today’s interconnected North American economy. Despite the critics in the news, the U.S. has tens of millions of North America stakeholders. They range from the businesses and their employees who build and sell across the continent to the civil society groups who champion shared causes, and to the many citizens with family and heritage ties that cross our borders. These citizens have a direct interest in how well North America’s neighbors work together to grow our economies, guard our societies, and protect our shared environment. The work of the three leaders and government teams will be strengthened if they bring these stakeholders closer to the process of defining what Mexico, Canada and the U.S. do together. The Hill
Submitted 4 hours ago

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Publix Recognized as one of Fortune’s 100 Best Workplaces for Millennials
LAKELAND, Fla.--Today, Publix was recognized as one of Fortune magazine’s “100 Best Workplaces for Millennials.” Publix ranked No. 74 on this year’s list. Businesswire.com
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5 Inspiring Career Lessons From Pat Summitt
Never give up. Tuesday, legendary basketball coach Pat Summitt, the winningest coach in NCAA history, died at the age of 64 after battling early onset dementia. Summitt was a singular figure in women’s (and men’s) sports, mentoring hundreds of students over her 38-year career and inspiring countless women in innumerable ways. TIME
Submitted 4 hours ago

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Dementia Claims Life of Lady Vols’ Leader
KNOXVILLE, Tenn. — Pat Summitt, the winningest coach in Division-I college basketball history who uplifted the women’s game from obscurity to national prominence during her 38-year career at Tennessee, died Tuesday morning. She was 64. The Intelligencer
Submitted 4 hours ago

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Matchmaker site links in-demand jobs, college programs
The U.S. Chamber of Commerce Foundation launched Launch My Career TN to help high school students and adults returning to school find the right college program for in-demand jobs. Tennessee is among the first states in the country to offer the tool. Memphis Commercial Appeal
Submitted 5 hours ago

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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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