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Coming soon to U.S.: Cuba Libre, with real Cuban rum
U.S. rum aficionados are abuzz over the possibility of mixing a Cuba Libre with authentic Cuban rum, now that they will be able to bring home liquor distilled in the communist nation. Relaxed limits on what licensed U.S. travelers can bring home mean that Americans will be able to enjoy small quantities of the liquor at home. But, with the embargo still in place, the rum won’t be flooding bars or the market. And it’s unclear what the news means for industry titan Bacardi, which was driven from its Cuba headquarters by the 1959 Castro revolution. In the past, Bacardi has left the door open for a return to its homeland. But company representatives wouldn’t give details when asked recently, if any, plans it has if the more than 50-year-old embargo on Cuban goods ends, now that President Barack Obama is working to normalize relations with the country. Miami Herald
Submitted 2 years 84 days ago

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Data could fuel innovation in Hampton Roads region
Our highly computerized and online world is creating massive amounts of data. Now, Hampton Roads and state leaders are asking how the region can use all this information, including government data, for better decision-making, innovation and even creating new businesses. "In the Internet economy, data is the fuel," former U.S. Chief Technology Officer Aneesh Chopra said. He said the true value comes from ingesting and analyzing types of data from multiple sources in a way that leads to new discoveries. "It is conceivable that Hampton Roads could a be a growth cluster for new applications borne out of this phenomenon," Chopra, a former Virginia Secretary of Technology, said in a phone interview. Daily Press
Submitted 2 years 84 days ago

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Obama's executive action on immigration forcing farmers to brace for labor shortages
FRESNO, Calif. -- Farmers already scrambling to find workers in California -- the nation's leading grower of fruits, vegetables and nuts -- fear an even greater labor shortage under President Barack Obama's executive action to block some 5 million people from deportation. Thousands of the state's farmworkers, who make up a significant portion of those who will benefit, may choose to leave the uncertainty of their seasonal jobs for steady, year-around work building homes, cooking in restaurants and cleaning hotel rooms. "This action isn't going to bring new workers to agriculture," said Jason Resnick, vice president and general counsel of the powerful trade association Western Growers. "It's possible that because of this action, agriculture will lose workers without any mechanism to bring in new workers." AL.com
Submitted 2 years 84 days ago

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Twenty states will raise their minimum wage on Jan. 1
The minimum wage will rise in 20 states and the District of Columbia on Thursday, as laws and automatic adjustments are made with the start of the new year. In nine states, the hike will be automatic, an adjustment made to keep the minimum wage in line with rising inflation. But in 11 states and D.C., the rise is the result of legislative action or voter-approved referenda, according to the left-leaning Economic Policy Institute. Two more states — Delaware and Minnesota — will get legislatively driven hikes later in the year, while New York will raise its minimum wage on Dec. 31. Twenty-nine states will have minimum wages above the federal minimum of $7.25. The Washington Post
Submitted 2 years 84 days ago

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EXCLUSIVE: Warren Buffett On Why America Has The 'Secret Sauce'
One issue Buffett discussed was America itself. When asked about the simple truth that most people misunderstand, he replied: "I would think currently, most people think America is on the wrong track. They think that the American dream is gone or something." A recent NBC News/Wall Street Journal poll noted just 27 percent of Americans are optimistic on the country's prospects. Benzinga.com
Submitted 2 years 84 days ago

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Mississippi agriculture values set to top $7B for third year
STARKVILLE, MISS. — The overall projected totals for Mississippi's crop values should top $7 billion for the third straight year, experts say, despite low prices for some goods. John Michael Riley, agricultural economist with the Mississippi State University Extension Service, said his preliminary estimate of 2014 is over $7.7 billion. Final figures will be available in May. Sun Herald
Submitted 2 years 84 days ago

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Gov. Bob McDonnell's Daughters Carry on a Family Tradition: To Save Dad, Blame Mom
Earlier this year, former Virginia governor Bob McDonnell and his wife Maureen presented a surprising defense against charges of conspiracy and bribery, arguing in court that he couldn't have conspired with his wife to take illegal gifts, as he was barely speaking to her. As Dahlia Lithwick detailed for Slate back in September, that defense was an abysmal failure. Slate
Submitted 2 years 84 days ago

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Mid Continent Nail Corporation Expands Its Poplar Bluff, Missouri Manufacturing Plant
A bulk pallet nail manufacturer, Mid Continent Nail Corporation, a division of Mid Continent Steel & Wire, has undertaken a $5 million expansion at its facility in the Poplar Bluff Industrial Park in Missouri. The company plans to add 91 full time jobs to its workforce. Area Development
Submitted 2 years 84 days ago

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Duke Energy invests heavily in GOP governors
On Oct. 21, two weeks before the general election, Duke Energy of North Carolina, the nation's largest utility, sent the Republican Governors Association (RGA) the largest donation by far that the 527 political advocacy group has received from the state in at least four years: $2 million. Southernstudies.org
Submitted 2 years 84 days ago

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4 maps that show why Democrats shouldn't dump the South
The Democratic Party's dismal showing in the 2014 elections caused progressives and the party faithful to look for answers, or at least for someone to blame. A handful of pundits decided the Democrats' problems could be traced back to one region of the country: the South. Southernstudies.org
Submitted 2 years 84 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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