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USPS cost cutting plan: No Saturday delivery, 50-cent stamp
The U.S. Postal Service submitted a five-year business plan to Congress yesterday that includes raising the price of a stamp to 50 cents and ending Saturday delivery. Bloomberg Businessweek reports the 11 percent hike on the price of a stamp would raise an extra $1 billion annually. USPS is taking steps to avoid what it calculates will be an annual loss of $18.2 billion in 2015. Orlando Business Journal
Submitted 2 years 64 days ago

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Alabama has 4 of nation's 50 worst areas for poverty
Four of the nation's 50 most poverty-stricken metropolitan or micropolitan areas are in Alabama, according to a new report from On Numbers. Selma (No. 12), Tuskegee (No. 40), Troy (No. 42) and Eufaula (No. 49) all had poverty rates of more than 20 percent. Selma's rate was 27.3 percent, Tuskegee's was 20.7 percent, Troy's was 20.5 percent and Eufaula's was 20 percent. Birmingham Business Journal
Submitted 2 years 64 days ago

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Nashville gets new 'sipping whiskey' distillery
Move over Baileys Irish Cream. A Nashville group is preparing to launch Whisper Creek Tennessee Sipping Cream liqueur, made right here in Music City. Speakeasy Spirits, the company behind the drink, is "trying to create a new category" at the liquor store, said CEO Jeff Pennington, who has been working on the product since 2009. Nashville Business Journal
Submitted 2 years 64 days ago

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New Orleans Bids Adieu to Final FEMA Trailer; Those in Need of Cheap Housing Say Hello
Just in time for Mardi Gras, the Department of Homeland Security announced this week that the last family in New Orleans living in a FEMA trailer was moved to a permanent home. Six and a half years after Hurricane Katrina, the news is certainly welcome. Yet there is a part of the story that didn’t make it into the triumphant release: The eight-foot by 32-foot travel trailers, which became synonymous with the federal government’s botched response to Hurricane Katrina, are still housing disaster victims. Next American City
Submitted 2 years 64 days ago

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Gulf of Mexico oil spill trial to bring high-profile players into the ring
When the trial over the oil spill in the Gulf of Mexico opens a week from Monday, expect a slugfest of epic portions. The early weeks of the proceedings promise to offer up noteworthy testimony from several high-profile players. BP Americas Chairman Lamar McKay, for example, has been subpoenaed to testify. And Transocean chief executive Steve Newman also appears on the witness list.
Submitted 2 years 64 days ago

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Abercrombie & Fitch to shutter 180 stores by 2015
Abercrombie & Fitch is planning to close 180 of its U.S. stores by 2015. The announcement was made by CEO Mike Jeffries during a call with analysts, according to numerous media reports. "Our results for the fourth quarter were below our expectations in an extremely challenging environment," Jeffries said. The New Albany, Ohio-based retailer operates 1,014 Abercrombie stores nationwide, including two stores in Austin at Barton Creek mall and Lakeline mall. Austin Business Journal
Submitted 2 years 64 days ago

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2013 Super Bowl preparations are already under way in New Orleans
New Orleans has played host to countless special events. There have been mega music festivals, championship sporting games and, of course, Mardi Gras. But tourism officials who traveled to Indianapolis for Super Bowl XLVI earlier this month say they expect next year's Super Bowl, which will take place in the Big Easy, will be unlike anything the city has ever seen. The Times Picayune
Submitted 2 years 64 days ago

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High sales taxes burden Louisiana's, and the rest of the South's, poor: Jarvis DeBerry
We should have stuck with the Stelly Plan, that transformational constitutional amendment Louisiana voters passed in 2002 that made the state less dependent on sales taxes and promised to cause less panicking during every budgeting session. We didn't stick with it. Five years later, lawmakers reversed the income tax increases that made the Stelly Plan beneficial. They left intact the sales-tax reductions that promised the state's most vulnerable residents relief. How depressing, then, to realize that even with those cuts in place, we're still one of the states hitting our residents hardest at the cash register. Nola
Submitted 2 years 64 days ago

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Buddy Roemer surpassed by Stephen Colbert in Americans Elect support
Let it be recorded that at 3:05 p.m. EST on Feb. 16, mock conservative commentator Stephen Colbert passed Buddy Roemer -- the former congressman, governor of Louisiana and bona fide presidential candidate -- as the sixth-most popular "draft candidate" of Americans Elect, the nonpartisan, nonprofit organization that is hoping to place a presidential candidate, chosen by its online electorate, on the ballot in all 50 states in the fall. But Colbert's rise, and the anemic participation to date in drafting a candidate, raise the question of just how seriously to take Americans Elect. The Times Picayune
Submitted 2 years 64 days ago

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The Naples Chamber fills economic development gap
In the wake of the closure of the Economic Development Council of Collier County, Fla.(EDC), many have been left asking — what’s next? Who should lead efforts to help job growth in Collier County? How should it be funded? What are the real benefits to the residents and taxpayers of Collier County? These are not easy questions to answer and it could be some time before the community aligns behind a growth strategy that can address all the key elements required to support a diversified and resilient economy. The News-Press
Submitted 2 years 64 days ago

 

 

 

Features & Opinion

 Top Ten Places in the South for Relocating California Companies

Reshoring manufacturing capacity from primarily Asia to the South and Mexico is now a common thing to do and it's all about money. When China joined the World Trade Organization in 2001, the average manufacturing wage in China's Pearl River Delta (PRD) was about 58 cents an hour.

 Randle Report - Business News in the South

 FEATURE  
By Dr. Glen Fenter
Desperation sometimes masks itself in acceptance. Such was the case for Takelia Carter of Marion, Ark. For Carter, the mother of six school-age children in a low paying job, desperation was normative existence. This was her life in Crittenden County, Ark., deep in the Delta where unfortunately one in four families lives well below the poverty level.
 

 Business News in the South - Randle Report

FEATURE     
By Mike Randle
There are numerous factors driving the new industrial revolution in the South. And it is a revolution, as this manufacturing surge that began in 2007 continues to break records year after year in the total number of large, capital intensive projects. One factor, of course, is that reshoring of facilities back to the U.S. continues to grow each year.
 
 Nashville Mayour Karl Dean

We try to change up the categories in our annual Ten Top 10s section, but we always include the "Ten People Who Made a Difference" category. This year though, we are honoring 12 and you will learn why by reading about this group of folks who have made a difference in the South. Here is our annual list that includes executives, economic developers and politicians who have made a difference in the South's economy.


 


 

 

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