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Obama Budget: Sell TVA
The Obama administration may sell TVA. In the 2014 budget proposal submitted Wednesday to Congress, the administration says that it “intends to undertake a strategic review of options for addressing TVA’s financial situation, including the possible divestiture of TVA, in part or as a whole.” Tennessee Sen. Lamar Alexader quickly issued a statement condemning the possible sale. Knoxville News Sentinel
Submitted 2 years 144 days ago

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Nike 'breaks ground' in Memphis instead of Mississippi
Memphis edged a strong bid by Mississippi to lure Nike’s $276 million expansion of its north-side distribution operation. “The State of Mississippi made us a great offer. It was pretty close,” Willie Gregory, Nike’s Tennessee director of community and business relations, said Tuesday during a ceremonial ground-breaking at Northridge Industrial Park in Frayser. Knoxville News Sentinel
Submitted 2 years 144 days ago

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Texas-based J.C. Penney may be sold in wake of CEO Ron Johnson’s ouster
J.C. Penney Co. Inc. may be heading to the sales block after a disastrous 17-month tenure of recently departed CEO Ron Johnson left the company’s sales shattered. Charlotte Business Journal
Submitted 2 years 144 days ago

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PNC Economic Outlook: Alabama business owners are cautious
Small and mid-sized business owners in Alabama have a cautious outlook for their business expectations in 2013, according to the latest PNC Economic Outlook survey. Birmingham Business Journal
Submitted 2 years 144 days ago

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Fla. Senate passes $74 billion budget
TALLAHASSEE, Fla. (AP) — A $74 billion spending plan for the state received unanimous approval from the Florida Senate. The Senate on Wednesday approved a proposed state budget that includes a 3 percent pay raise for state workers and a more than $1 billion increase for the state's public schools. Fox News
Submitted 2 years 144 days ago

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ILA approves six-year contract for workers at East, Gulf ports
After more than a year of negotiations that nearly fell through and almost resulted in a strike, the International Longshoremen’s Association has approved a new six-year master contract. Houston Business Journal
Submitted 2 years 144 days ago

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Tyler Perry plans “huge expansion” of Atlanta studios
Atlanta movie mogul Tyler Perry is apparently planning a major expansion of his studios. Perry, producer, director and star of the Madea series of films and the creative force behind several other hit movies and TV series, appeared to inadvertently offer Entertainment Tonight interviewer Rocsi Diaz a small glimpse of his future plans. Atlanta Journal Constitution
Submitted 2 years 144 days ago

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Arkansas Oil Spill Health Complaints Emerge In Mayflower
Sherry Appleman awoke abruptly in the middle of the night less than 48 hours after a pipeline rupture last month sent thousands of barrels of heavy crude oil into the streets and swamps of Mayflower, Ark. Houston Business Journal
Submitted 2 years 144 days ago

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Arkansas Oil Spill Health Complaints Emerge In Mayflower
Sherry Appleman awoke abruptly in the middle of the night less than 48 hours after a pipeline rupture last month sent thousands of barrels of heavy crude oil into the streets and swamps of Mayflower, Ark. "I couldn't breathe. My throat and nose and eyes were burning really bad," recalled Appleman, who lives on Lake Conway, about a mile outside the 22-home evacuation zone -- but next to a slough now full of the thick, sticky diluted bitumen. "I could smell that horrible smell. I got really scared." Huffington Post
Submitted 2 years 144 days ago

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WATCH: Rand Paul's Wildly Misleading Claim
During an appearance at Howard University on Wednesday, Sen. Rand Paul (R-Ky.) made misleading claims about his past support for the 1964 Civil Rights Act. “I’ve never wavered in my support for civil rights or the Civil Rights Act," he said, speaking at the traditionally black school. "The dispute, if there is one, has always been about how much of the remedy should come under federal, or state, or private purview." Huffington Post
Submitted 2 years 144 days ago

 

 

 

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 Mike Randle
The belief that "80 percent of all new jobs come from existing business and industry" is an out-of-date, old-fashioned fabrication. I have no idea how it started, where it started, or who said it first, but there are professionals in economic development as well as leaders of government in the South who actually believe that each year, 80 percent (why 80 percent I don't know, either) of all new jobs are created by existing business and industry. I hear it all the time and I just roll my eyes. There is nothing static in economic development but this: 100 percent of all lost jobs come from existing business and industry. That, and of course 100 percent of the time site consultants never pay for a meal.
 

 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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