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Trust fund transfer referendum date to cost Alabama $3 million
MONTGOMERY -- Tuesday's referendum on whether to take money from a trust fund to boost state spending will cost the state about $3 million that could have been saved if the issue had been put on the general election ballot Nov. 6. Some Republicans said holding a special election Tuesday on that single issue made sense because, if voters reject the transfers, Gov. Robert Bentley could call legislators into special session to adjust spending before the 2013 fiscal year starts Oct. 1. "It wouldn't be fiscally responsible for the state to start spending taxpayer money without knowing how much money will actually be in state coffers," said Speaker Mike Hubbard, R-Auburn, leader of the state House of Representatives. AL.com
Submitted 2 years 137 days ago

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NASA celebrates President John Kennedy's 'moon speech' 50 years later
WASHINGTON -- NASA is celebrating the 50th anniversary of former president John F. Kennedy's famous "moon speech" today as a moment full of historic significance. Not only did Kennedy's promise to reach the moon by the end of the 1960s give NASA its first great mission, the speech helped define Kennedy's legacy, showed that nations could compete without war and established a rationale for taking on difficult challenges that still resonates today. AL.com
Submitted 2 years 137 days ago

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Gov. Robert Bentley and top Alabama legislative leaders in Washington
WASHINGTON -- Gov. Robert Bentley and the top two leaders of the Alabama Legislature are in Washington today, meeting with the state's congressional delegation about internet sales taxes and other federal issues affecting the state. Bentley said he was also scheduled to meet this afternoon with President Barack Obama's housing secretary about tornado recovery in Tuscaloosa. The governor, House Speaker Mike Hubbard, R-Auburn, and Senate President Pro Tem Del Marsh, R-Anniston, traveled together on the state airplane for the private hour-long lunch meeting at the U.S. Capitol with all nine members of the House and Senate from Alabama. AL.com
Submitted 2 years 137 days ago

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NASCAR cuts staff at Charlotte TV hub
NASCAR Productions laid off about 15 percent of its Charlotte-based workforce this week in a restructuring of the unit that produces video for the motorsports giant. In all, 32 of 180 jobs were eliminated. Some of those employees will remain into the fall as the final leg of the NASCAR Sprint Cup races are run. Thatsracin.com
Submitted 2 years 137 days ago

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Alabama pro-referendum PAC reports raising a total of $745,250
MONTGOMERY -- The political action committee for Keep Alabama Working, a group promoting approval of a statewide referendum Tuesday, has raised a total of $745,250, according to reports filed by the PAC with the Alabama Secretary of State. Contributions made to the PAC this week include $20,000 apiece from McWane Inc., a manufacturer of iron pipe and other products, and from the Johnston Barton Proctor and Rose law firm, both based in Birmingham. The PAC also reported getting, on Sept. 6, $25,000 apiece from AT&T in Dallas and the Burr & Forman law firm in Birmingham. AL.com
Submitted 2 years 137 days ago

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FDIC: 30% of Tampa metro households unbanked or underbanked
More than one in four households in the United States were unbanked or underbanked in 2011, according to a new survey by the Federal Deposit Insurance Corp. Tampa Business Journal
Submitted 2 years 137 days ago

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Guilford Co. NC to seek rezoning to make prison farm a corporate park
A show of support from Guilford County commissioners Tuesday night means economic development officials will get to work to rezone the current county prison farm property for use as a corporate park and complete a master planning process for how the 760-acre parcel could develop, all within the next three months. The Business Journal
Submitted 2 years 137 days ago

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Journey to Japan: Mitsubishi updates Haslam, Memphis team on plant progress
Gov. Bill Haslam and his team joined Shelby County Mayor Mark Luttrell, Ernest Strickland and myself for an incredibly productive and interesting meeting with Yoshiaki Nakatani, president of Mitsubishi Electric and his team today in Tokyo. Memphis Business Journal
Submitted 2 years 137 days ago

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Medicare cuts may cost Tennessee 17,400 jobs
More than 17,423 health care and related jobs could be lost in Tennessee by 2021 as a result of the 2 percent cut in Medicare spending mandated by the Budget Control Act of 2011, according to a new report. Memphis Business Journal
Submitted 2 years 137 days ago

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Charlotte Airport plans $15 M rental car maintenance facility
Charlotte Douglas International Airport is seeking to rezone 100 acres of land off Wilkinson Boulevard for a rental car maintenance facility, officials said Tuesday. Charlotte Observer
Submitted 2 years 137 days ago

 

 

 

Features & Opinion

 Top Ten Places in the South for Relocating California Companies

Just look around at what's happening in the aerospace industry in the American South. Aerospace is really making a move to become one of the region's top two industry sectors. It’s not there yet, but if large project counts are any indication, aerospace may soon challenge the petrochemicals sector as the second largest industry in the region. Never before has the aerospace industry been so important to the South's economy. Oh, what's the No. 1 industry sector in the South? Automotive is, of course. That industry hasn't been challenged much for 25 years in this region, or since we’ve been counting.

 

 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
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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