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Memphis is the top NBA destination
The problem with ignoring all of those rankings that say bad things about Memphis is you have to justify not ignoring the ones that say good things about Memphis. But that's a good problem to have. Even though I'm not a fan of praising anyone's basketball team in November, it's a little hard to not be excited about the Memphis Grizzlies' first 11 games of the 2014-15 season. While ESPN continues to force feed us Los Angeles Lakers games, USA Today has named Memphis the Best NBA Destination. Compiled by USA Today's NBA beat writer, Sam Amick, the ranking is based on reader surveys and pointed out the location of FedExForum adjacent to Beale Street and Graceland as attractions to out-of-town fans. Memphis Business Journal
Submitted 2 years 94 days ago

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Invest Atlanta taps former GLI leader Craig Richard as new CEO
Craig J. Richard, the former president and CEO of Greater Louisville Inc., the metro chamber of commerce, has been selected to become president and CEO of Invest Atlanta, the Georgia city's economic development agency. Richard will succeed Brian McGowan as president and CEO of Invest Atlanta. McGowan left earlier this year to become chief operating officer of the Metro Atlanta Chamber and interviewed recently with the Greater Sacramento Area Economic Council. Business First
Submitted 2 years 94 days ago

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Invest Atlanta taps Craig Richard as new CEO
Atlanta Mayor Kasim Reed Thursday named a veteran economic development leader with experience in several major cities to head Invest Atlanta, the city's economic development agency. Craig J. Richard, former president and CEO of Greater Louisville Inc. – that city's chamber of commerce – will succeed Brian McGowan as president and CEO of Invest Atlanta. McGowan left earlier this year to become chief operating officer of the Metro Atlanta Chamber and interviewed recently with the Greater Sacramento Area Economic Council. Before his stint in Louisville, Richard served as senior vice president of economic development for Greater Houston Partnership and economic development director for the Dallas Regional Chamber. Atlanta Journal Chronicle
Submitted 2 years 94 days ago

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Firm plans billion-dollar-plus aluminum mill in Southeast to meet ‘unprecedented demand’
Pittsburgh-based American Specialty Alloys announced plans Monday to build a $1.2 billion aluminum mill somewhere in the southeastern United States. The company said the proposed mill will serve the auto industry’s growing demand for lighter vehicles that can meet stringent federal standards for fuel economy. American Specialty Alloys did not disclose the proposed location for the plant, which would be able to supply more than 600,000 tons of aluminum to the auto industry. “We are building a modern mill and using a process that will change aluminum production forever in this industry,” said Roger Boggs, founder and chief executive officer of American Specialty Alloys. The mill will take advantage of automation and the low-cost power available in the South to make the higher-grade aluminum needed to meet the federal Corporate Average Fuel Economy-compliant automobiles of the future, Boggs said. The CAFE standard will rise to 54.5 miles per gallon by 2025. The Advocate
Submitted 2 years 94 days ago

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Insiders claim only 30 percent of Toyota's workforce could relocate to Plano; automaker says it's way too early to count
Claims from an "unnamed insider" raise questions about how many California employees will follow Toyota's move from Torrance to Plano as it relocates its North American headquarters to Texas by 2017. But Toyota says the speculation is "completely inaccurate." In an article posted Monday, Automotive News reported that workers' morale and productivity are down as the company waits to unveil new job descriptions, which are being tweaked with the move. The descriptions could affect employee benefits, bonuses and reporting structure, potentially tipping the scales on who decides to relocate. Automotive News reported that Toyota hopes to keep 50 percent of its workforce with the move, but said management fears the figure could be closer to 30 percent. Dallas Business Journal
Submitted 2 years 94 days ago

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TVA profits hit 4-year high
Despite a 2.4 percent decline in power sales, the Tennessee Valley Authority posted its highest income in four years for the 2014 fiscal year, which ended Sept. 30. The Chattanooga Times Free Press reports that TVA earned $469 million, on revenue of $11 billion. A year ago, TVA earned $271 million on revenue of $10.8 billion. A nearly 2 percent increase in rates in 2014 helped offset a drop in electricity sales. Nashville Business Journal
Submitted 2 years 94 days ago

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How Cheniere Energy Got First In Line To Export America's Natural Gas
If you want to see what the natural gas revolution in America has wrought, there’s no better place than the Sabine Pass liquefied natural gas port in coastal Louisiana. There you can peer into five massive storage tanks, each almost big enough to contain Madison Square Garden. Taken together, they can hold the liquefied equivalent of 17 billion cubic feet of natural gas–a quarter of what the United States uses in a day. They’re empty. Built in 2008 by Houston-based Cheniere Energy when it appeared certain that the U.S. would soon run short on natural gas and need imports to make ends meet, they ran headlong into the Great American Gas Boom. Drillers in recent years have unlocked so much gas from tight rock that America now enjoys record gas supplies and prices that are just one-quarter of what buyers in Europe and Asia pay. Projections are that the annual U.S. gas supply could grow a further 25% by 2035. Forbes
Submitted 2 years 94 days ago

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Keystone pipeline fading into background in Oklahoma
CUSHING — The fate of the Keystone XL pipeline remains a hot-button issue in Washington, D.C., but Oklahoma has largely moved on from the debate. The portion of the project planned for Oklahoma already is operational. It was completed in two separate stages, delivering millions of gallons of crude oil into and out of the storage hub at Cushing. Now there is little sign of the project’s passing, aside from yellow markers and signs that mark its path through 11 Oklahoma counties. Officials with developer TransCanada said the company did its best to return the land along the pipeline right of way to its original condition. Daily Oklahoman
Submitted 2 years 94 days ago

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Repeal of U.S. oil export ban would lower gas prices, studies show
The U.S. government has banned oil exports since the energy crisis of the 1970s, but that could change next year as Republicans take control of Congress and are backed by new studies showing that repeal of the ban would actually lower gasoline prices and be a surprising boon to consumers. Sen. Lisa Murkowski, Alaska Republican and the expected new chairwoman of the Senate Committee on Energy and Natural Resources, has been the leading proponent in Congress for ending the ban, arguing that a sea change in the way oil and gas prices are determined in global markets has turned it into a relic of a past era of fuel scarcity, one that is increasingly harming the outlook for the nation’s booming shale oil industry. The Washington Post
Submitted 2 years 94 days ago

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Top exports to selected countries worldwide
The world’s second-richest country the USA placed second in exporting during 2013. America shipped US$1.579 trillion worth of goods around the globe, up by 49.4% since 2009. Here are the top 10 exports for the U.S. to several countries worldwide in 2013. Worldsrichestcountries.com
Submitted 2 years 94 days ago

 

 

 

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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