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NRG CEO: GenOn deal doesn’t get him closer to building more power plants in Texas
NRG Energy Inc.’s plan to buy GenOn Energy Inc. doesn’t get the power generation company any closer to build more plants in Texas. But it does allow NRG to expand its Texas retail brands in other states. NRG, a New Jersey power company that is the second-largest generator in Texas, announced on Sunday it will merge with Houston’s GenOn in a stock deal that values GenOn at around $1.84 billion. The combined company will be the largest power generator in the country, with 47,000 megawatts of generation capacity, enough to provide electricity to 40 million homes. That doesn’t mean NRG will be able to convince any bank or investor to finance a new power plant in Texas. Wholesale prices in Texas’ deregulated market have fallen so low, that investors cannot justify the expense of a new plant. Dallas Morning News
Submitted 2 years 121 days ago

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NRG Energy to buy Texas-based GenOn in $1.7B deal
PRINCETON, N.J. — NRG Energy said Sunday that it reached an agreement to buy wholesale power provider GenOn Energy in an all-stock deal worth about $1.7 billion. Under terms of the deal, GenOn Energy Inc. shareholders will get 0.1216 of an NRG Energy Inc. share for each of their GenOn shares. Based on NRG’s Friday closing stock price, the offer equates to about $2.20 per GenOn share. That represents about an 18 percent premium over Houston-based GenOn’s Friday closing stock price. NRG, based in Princeton, N.J., sells power on the wholesale market and to retail customers in states that have deregulated their electric power industry. It said the acquisition will allow it to cut costs, while boosting efficiency and cash flow. Dallasnews.com
Submitted 2 years 121 days ago

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Are Texans willing to pay more to make sure to avoid risk of rolling blackouts?
How often and how long are you willing to be inconvenienced by a power outage? A buddy of mine was caught in this summer's freakish storms along the East Coast that knocked out electricity to millions of residents. In some instances, people were without power for more than a week. My buddy was lucky. He was out of power for only a day during a time of triple-digit temperatures. That was too much for him. He bought a backup generator on Amazon.com for his peace of mind. In some ways, that's an analogy to the debate that Texans are about to have. Or at least the 80 percent of the population served by the Electric Reliability Council of Texas, including Austin, San Antonio, Dallas and Houston. Austin American-Statesman
Submitted 2 years 121 days ago

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Earnings Show Recession May Be 'Fast Approaching'
While this quarter's earnings reports have crossed a substantially lowered profit bar, future expectations through the year indicate a recession could be on the way. Estimates for the third and fourth quarters have been dropped to levels not seen since the days of the 2008 financial crisis, below even the muted 2 percent expected level of inflation. That's an ominous recession sign for an economy that has barely managed to attain positive growth this year even with the strong level of earnings beats, according to an analysis by Nicholas Colas, chief market strategist at ConvergEx in New York. NBC
Submitted 2 years 121 days ago

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Montgomery: Where New Urbanism Works

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Every American Is Experiencing a Different Economy
When the economic statistics are reported each month, it’s easy to forget that they are just averages. Economic growth, unemployment, home prices and even inflation vary enormously from one place to another and from one part of the population to another. As a result, changes in the national numbers can create a false impression. The averages may be improving because some groups of Americans are faring a whole lot better, while other groups in the population may not be benefiting at all. But you can only determine the real trends if you consider the people who are being left out. TIME
Submitted 2 years 121 days ago

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Repair bill over $1 billion to fix crumbling sewage system, Miami-Dade report shows
Miami-Dade County’s three main water treatment plants and 7,700 miles of pipelines are so outdated it would take an initial installment of more than $1.1 billion just to replace the “most deteriorated vulnerable sections” of the system, a five-month just released internal study shows. From water plants that serve from South Miami-Dade to Hialeah to the county line, to pipes that move drinking water and sewage, to sewage treatment plants from Virginia Key to North Dade, so much corrosion has taken place that initial repairs could take anywhere from three to eight years, the study found. Miami Herald
Submitted 2 years 121 days ago

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DOE acknowledges, explains mistakes in Florida school grades
The Florida Department of Education on Monday acknowledged that it miscalculated school grades across Florida while local education officials said the mistake will fuel more public distrust in the state's student-accountability system that has been under increasing attack in recent months. Orlando Sentinel
Submitted 2 years 121 days ago

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Study ranks Houston airport on disease contagion list
If a disease pandemic were to strike, airports could be major aids in spreading an infection. However, despite its massive size and high traffic volumes, Houston’s George Bush Intercontinental Airport (IAH) is not ranked as one of the top 10 airports in the U.S. most likely to influence the spread of disease, according to a new Massachusetts Institute of Technology study. Houston Business Journal
Submitted 2 years 121 days ago

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Austin adds 918 small businesses in two years
While the nation lost more than 170,000 small businesses during the first years of the recession, Austin gained 918, according to an analysis of U.S. Census Bureau data. Austin Business Journal
Submitted 2 years 121 days ago

 

 

 

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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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