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Lake Pontchartrain phase of 141-mile pipeline nears completion
With the Lake Pontchartrain phase of the $220 million project to run a pipeline from Norco to Mississippi nearly complete, workers will soon begin drilling beneath Fontainebleau State Park near Mandeville to continue the northern progression of the line. Initial clearing and grading work has begun near the park and directional land drilling should begin in that area next month, officials said. The pipeline will carry refined liquid petroleum products including gasoline and diesel fuel. Times-Picayune
Submitted 2 years 149 days ago

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Western Gulf of Mexico lease sale attracts $133.8 million in high bids
ConocoPhillips submitted high bids for most of the federally-owned offshore oil and natural gas drilling leases that were put up for auction in New Orleans on Wednesday. The Houston-based firm, which is the third-largest integrated energy company in the country, will pay almost $51.8 million for 62 tracts in the Gulf of Mexico. More than 20 million acres off the coast of Texas were offered in the lease sale. Times-Picayune
Submitted 2 years 149 days ago

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3 BP employees arraigned on Gulf oil spill charges
Two BP rig supervisors and a former BP executive pleaded not guilty Wednesday to criminal charges stemming from the deadly Deepwater Horizon rig explosion and the company's response to the massive 2010 spill in the Gulf of Mexico. Times-Picayune
Submitted 2 years 149 days ago

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Help Us, Ben Bernanke, You're Our Only Hope: Seven And A Half Things To Know
Thing One: Fed To Buy Bonds Forever: The Federal Reserve seems to be living in a parallel world, one very different from the one everybody else in Washington occupies. Huffington Post
Submitted 2 years 149 days ago

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U.S. Home Prices Edge Up in September
U.S. single-family home prices rose in September in a further sign that the housing market is on the mend, a closely watched survey showed on Tuesday. Fox News
Submitted 2 years 149 days ago

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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 149 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 149 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 149 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 149 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 149 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 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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