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Arkansas-based Tyson Foods 4Q Net Income Up 91 Percent, Annual Sales A Record
Tyson Foods Inc. of Springdale on Monday reported a 91 percent increase in fourth-quarter net income, which reached $185 million, or 51 cents per share, topping Wall Street expectations. The publicly traded meat processor said net income was $97 million, or 26 cents per share, during the same quarter last year. On an adjusted basis, earnings per share reached 55 cents. The company also reported quarterly sales of $8.37 million, down from $8.4 million during the same quarter last year. For the fiscal year, the company reported net income of $576 million, down 21 percent from $733 million in the previous year. But the company logged record annual sales of $33 billion. Arkansas Business
Submitted 2 years 149 days ago

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Miami Booms Like Never Before on Rental Demand: Mortgage
Miami’s roller coaster real estate market is booming again after its worst crash left dozens of unfinished buildings and failed condo projects. Related Group of Florida, Adler Group and Area Property Partners LP, are among builders developing amid a shortage of rental properties as the economy improves. The average rent for a two-bedroom apartment increased 6 percent to $2,568 a month in the third quarter, compared with the year ago period, according to Condo Vultures LLC, a brokerage and consulting firm. “There’s a boom in Miami that we’ve never seen before,” said Stephen Ross, chairman and founder of New York-based Related Cos. and owner of the Miami Dolphins football team, at the Bloomberg Commercial Real Estate Conference in New York on Nov. 13. “Miami is probably the hottest real estate market in the U.S. from a residential perspective.” Bloomberg
Submitted 2 years 149 days ago

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New N.C. governor ups competition for job development
Three years ago, South Carolina lured Continental Tire’s headquarters for the Americas — and more than 300 jobs — from Charlotte to Fort Mill. Then last year, the German tire maker chose Sumter over a site in Brunswick County, N.C., for a $500 million plant that’s expected to employ 1,600 people over a decade. South Carolina sealed the Continental deals with the help of tax breaks and a big cash grant. But next time, North Carolina could claim victory in the never-ending competition between the two states for jobs. Greenville News
Submitted 2 years 149 days ago

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Stith shaping team for N.C. Gov.-elect McCrory
RALEIGH -- As director of Gov.-elect Pat McCrory’s transition team, former Durham City Councilman Thomas Stith III is the new man to see in Tar Heel politics. Hundreds of job applications are flowing into his office. Teams are assessing state government and policies. Inauguration plans are being made. Stith, 49, spent part of this weekend closeted with McCrory, who will take office in January as North Carolina’s first Republican governor in 20 years. Stith is overseeing a 10- to 15-member transition staff, housed in vacant offices in the Albemarle Building, which is putting together an administration in less than a two-month period. Stith stresses that the transition effort is a team effort that includes many volunteers. Charlotte Observer
Submitted 2 years 149 days ago

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Advanced Inventory Solutions Inc. establishing new operations in Dorchester County, S.C.
COLUMBIA, S.C. – November 19, 2012 – Advanced Inventory Solutions Inc., a provider of inventory auditing services, today announced that has located new operations in Dorchester County. The $250,000 investment is expected to generate 35 new jobs. “Our new location in Dorchester County provides an excellent opportunity for our company. We look forward to building our business there and adding new customers in the area. South Carolina provides us with an excellent business environment, a skilled workforce, and we appreciate all the support we’ve received from state and local officials,” said Tim Bayer, president of Advanced Inventory Solutions. Dorchesterforbusiness.com
Submitted 2 years 149 days ago

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MARKETS STAGE GIGANTIC GLOBAL RALLY: Here's What You Need To Know
Stocks exploded out of the gates and never looked back. First the scoreboard: Business Insider
Submitted 2 years 149 days ago

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Indexing gas tax among options McDonnell is considering
Gov. Bob McDonnell said today that he’s evaluating a series of transportation proposals in the run up to the General Assembly session, including possibly indexing the gas tax to rise with inflation. Richmond Times-Dispatch
Submitted 2 years 149 days ago

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Republican Governors Are Stonewalling Obamacare
Late last week more than a dozen Republican governors declared that they will not build the insurance market exchanges called for by the Affordable Care Act, including prominent names like Bobby Jindal of Louisiana, John Kasich of Ohio, Scott Walker of Wisconsin and Rick Perry of Texas. Business Insider
Submitted 2 years 149 days ago

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Walmart Petition Over Thanksgiving Opening Garners More Than 30,000 Signatures
Walmart is facing backlash over its decision to open its doors on Thanksgiving. More than 30,000 people have signed an online petition on MoveOn.org asking Walmart not to make its employees work on Thanksgiving. Mary Pat Tifft, a Walmart associate of 24 years, started the petition after the retailer's announcement that it would open stores at 8 p.m. on Thanksgiving Day, according to a press release. Walmart opened at 10 p.m. last Thanksgiving. Huffington Post
Submitted 2 years 149 days ago

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Creative businesses thrive in Savannah
Love Lane Designs creates unique home goods, specializing in hand-printed tea towels. These aren’t just any old tea towels. They are decorative pieces of artwork filled with bright colors and quirky designs that can hang in the kitchen with pride. Savannah Morning News
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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