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Hostess Executive Bonuses: Twinkie-Maker To Seek Approval For $1.8 Million In Bonuses During Liquidation
NEW YORK -- Hostess Brands Inc. plans to ask for a judge's approval Thursday to give its top executives bonuses totaling up to $1.8 million as part of its wind-down plans. The maker of Twinkies, Ding Dongs and Ho Hos says the incentive pay is needed to retain the 19 managers during the liquidation process, which could take about a year. Two of those executives would be eligible for additional rewards depending on how efficiently they carry out the liquidation. Huffington Post
Submitted 2 years 147 days ago

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Third-Quarter GDP Growth Revised Upward to 2.7%
WASHINGTON—The U.S. economy expanded at its fastest pace in nearly three years in the third quarter as stronger inventory and export gains caused the government to revise its growth reading higher. Wall Street Journal
Submitted 2 years 147 days ago

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That's The Randle Report for November 28, 2012
That's a wrap on The Randle Report for today. Feel free to use the sort buttons above or the search window to find your favorite stories from today, last week, last month or in the last year. If you are looking for more information on economic development in the South, click on the headline above to read Southern Business & Development magazine. If you want to keep up with the South's growing automotive industry, go to www.SouthernAutoCorridor.com. If you are looking for sports in the South, go to www.RandleSportsReport.com, or click on the "Sports" tab above.
Submitted 2 years 148 days ago

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Unemployment rates for Southern US cities
Unemployment rates declined last month in more than half of the 372 largest U.S. cities, further evidence of steady improvement in the job market. The Labor Department says rates fell in 201 metro areas. They rose in 116 and were unchanged in 55. The number of cities with unemployment below 7 percent rose to 180 last month, up from 107 a year ago. Here are unemployment rates in October for states and cities in the South: AJC.com
Submitted 2 years 148 days ago

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No place on the globe is seeing more action than the Gulf Coast
We don't know of anyone who has lived in more places on the Gulf Coast than South Alabama-born Jimmy Buffett. The entertainer is also one of the Gulf Coast's most successful businessmen, with ventures in all five Gulf States. It was Buffett's songs "Margaritaville" and "Cheeseburger in Paradise," among others, that helped him launch his career, one that makes this Gulf Coast parrothead about $100 million annually. Margaritaville, the fictitious place where shrimp are on the boil and booze is in the blender, is paradise. And paradise is the American South's Gulf Coast. Yet, Buffett's regional home has had a tough time of late. But like the singer's career, the South's Gulf Coast is resilient. And almost all of its traditional industries – petrochemicals, tourism, manufacturing, fishing, aviation and aerospace – are hoppin' like no year in the region's history, and exports from the Gulf Coast are off the charts. Let's not forget that it was just a few years ago that the Gulf Coast was left for dead after devastating hurricanes and the BP oil spill. Southern Business & Development
Submitted 2 years 148 days ago

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The Birth of a Louisiana Super Region
New Orleans has the Super Dome. Louisiana's got a super economy. In fact, Louisiana has led all Southern states in our annual SB&D 100 ranking each of the last five years in the value of projects announced on a per capita basis. Even more, Louisiana has led all Southern states in total value of corporate and industrial investments straight up in two of the last five years. Southern Business & Development
Submitted 2 years 148 days ago

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Arkansas: A real approach to economic development
There is something missing from Dennis Cuneo's email (view PDF) to me the morning of February 27, 2007, at precisely 8:58 am that is displayed here on this page. Note the time. It was two minutes before Cuneo took the stage with then Mississippi Gov. Haley Barbour to announce that Toyota had selected a site near Tupelo, Miss., for an assembly plant over two other short-listed sites in Chattanooga and Marion, Ark. Southern Business & Development
Submitted 2 years 148 days ago

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First 50 employees move into Memphis Electrolux plant
The front doors of Memphis's gleaming new Electrolux plant open to a guard desk and six turnstiles. Push through them and into the wide central corridor, you'll see on the left a showroom where the high-end ovens and ranges will be proudly displayed. To the right is the sunlit employee cafeteria. Keep walking and you see, through the glass doors at the end of the corridor, glimpses of the far bigger space still under construction. That's where the cooking appliances will be assembled starting next year. Memphis Commercial-Appeal
Submitted 2 years 148 days ago

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Updated: Billion-dollar Kia bond agreement could boost jobs, suppliers
An agreement with Kia Motors Manufacturing Georgia to issue $1.6 billion in bonds for potentially growing its supplier base could secure West Point and Troup County millions and additional tax revenue for the school system. Troup County Commission Chairman Ricky Wolfe said that officials with the county, West Point, state, and Troup County and West Point development authorities have been negotiating a deal over the last six months with Kia. The agreement they reached, spelled out in a memorandum on understanding presented Tuesday to the County Commission, Troup County Development Authority, Troup County Board of Education and West Point City Council, was approved by each. LaGrange News
Submitted 2 years 148 days ago

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GM adding temporary workers at Kentucky Corvette plant
General Motors plans to hire temporary workers to help with the launch of the next generation of the Corvette. Bowling Green Assembly plant spokeswoman Andrea Hales said Tuesday the automaker will need around 150 temporary workers, though the automaker is still finalizing the number of extra workers needed. She said they'll work at the plant from four to 18 months. GM is retooling the Bowling Green plant ahead of work on the all-new 2014 model of the Corvette. Hales says the new crew of temporary workers will allow current full-time employees to take vacations and ensure the launch of the new Corvette goes smoothly. Louisville Courier-Journal
Submitted 2 years 148 days ago

 

 

 

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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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