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Auburn, Arkansas land new coaches, Tennessee still waiting
The Southeastern Conference coaching carousel is nearing the end of its ride, as Auburn and Arkansas both landed new head coaches Tuesday, but Tennessee is still waiting for its man. Auburn University hired Gus Malzahn, its own former offensive coordinator who most recently spent one year as head coach at Arkansas State University. The University of Arkansas hired Bret Bielema, University of Wisconsin's head coach, to lead its football program. Memphis Business Journal
Submitted 2 years 167 days ago

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Study reveals skills gap between education and jobs
A new report out this morning from McKinsey & Company on the much-debated ‘skills gap’ finds a profound disconnect between educators, employers, and would-be employees. The study of nine countries (the U.S., U.K., Brazil, Germany, India, Mexico, Morocco, Saudi Arabia, and Turkey) finds that nearly three quarters (72 percent) of educators believe their graduates are ready for the job market. Only 42 percent of employers and only 45 percent of young people think so. Meanwhile, fewer than half of employers say they can find the skilled employees they need, and 75 percent report this is a drag on their business. Marketplace
Submitted 2 years 167 days ago

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The world's most powerful people
What do the president of the United States, the pope and a co-founder of Facebook (FB) have in common? Each is prominently featured in Forbes' 2012 ranking of the world's most powerful people. Each year, Forbes considers the heads of state, financiers, philanthropists and entrepreneurs who truly run the world. Editors evaluate hundreds of candidates from around the globe and measure individual power along four dimensions. MSN
Submitted 2 years 167 days ago

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Hidden Gem on the Hooch
They're reclaiming the Hooch along the southern border of Georgia and Alabama. In Columbus, the strategic demolition of old dams along the Chattahoochee River will soon unleash what the city is calling the River City Rush, the "longest urban whitewater course in the world," according to the event's website. The old industrial city has already rejuvenated itself over the past couple of decades with the development of the 20-mile Riverwalk, a "linear park" that has attracted dedicated bicyclists from across the country. But if the water is a prime attraction, Columbus is best known for its men and women on the ground. Well over 100,000 military, family, and civilian employees live and work on the vast U.S. Army post of Fort Benning just south of the city, and the Columbus Airport is a busy way station for travelers in fatigues and work boots. Mens Journal
Submitted 2 years 167 days ago

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Starbucks to open 1,500 more cafes in the US
Another Starbucks may soon pop up around the corner, with the world's biggest coffee company planning to add at least 1,500 cafes in the U.S. over the next five years.The plan, which would boost the number of Starbucks cafes in the country by about 13 percent, was announced at the company's investor day in New York Wednesday. In addition, the Seattle-based company says it will eventually serve a new brand of tea in its cafes. Rather than its Tazo tea, Starbucks is turning its attention to Teavana, which it announced it would acquire last month. Columbus Ledger-Enquirer
Submitted 2 years 167 days ago

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Georgia ports steam ahead with expansion projects
ATLANTA — With a major hurdle cleared for deepening the Port of Savannah, expansion of an intermodal container facility completed, and a major economic development project under way, life at the Georgia Ports Authority appears to be steaming right along. However, what excites Georgia leaders is the ports’ impact on jobs and commerce, and their importance to the economic future of the Southeast. In fiscal year 2012, which ended June 30, the Georgia Department of Economic Development reported the creation of 5,300 new port-related jobs and more than $1.8 billion in investments were announced statewide. Charleston Business Journal
Submitted 2 years 167 days ago

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It's time to allow wine in Tennessee grocery stores
Many residents of the Chattanooga area are understandably flummoxed by Tennessee's silly wine laws. While wine is available in grocery stores in Georgia, picking up a bottle of cabernet in Tennessee requires a trip to the liquor store. At the same time, beer, which is generally blamed for more of society's alcohol-related woes than wine, has been available for decades in grocery stores throughout the Volunteer State to consumers of legal age. So what gives? Why isn't wine already sold in Tennessee's grocery stores? Chattanooga Times Free Press
Submitted 2 years 167 days ago

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Just say ‘no,’ Gov. Haslam
Tennessee Governor Bill Haslam claims that he is still undecided on whether to set up a health-insurance “exchange” under Obamacare. His decision will come soon — the federal government has given Haslam until Dec. 14 to decide. If Haslam needs advice on which way to turn all he needs to do is look out the window of his office in the Tennessee Capitol at noon today. Across the street at Legislative Plaza, hundreds of informed and concerned Tennesseans are expected to gather in opposition to a state exchange. Chattanooga Times Free Press
Submitted 2 years 167 days ago

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Citigroup cutting 11,000 jobs, taking $1 billion in charges
(Reuters) – Citigroup Inc, which has lagged behind its peers in recovering from the financial crisis, said it is cutting 11,000 jobs worldwide, about 4 percent of its staff, to save as much as $1.1 billion a year in expenses. The move will initially result in pre-tax charges of $1 billion against fourth-quarter earnings, the No. 3 U.S. bank by assets said on Wednesday. The cuts are Chief Executive Michael Corbat’s first major steps to reorganize the company since he took the reins in October after directors pushed out his predecessor, Vikram Pandit.
Submitted 2 years 167 days ago

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Small-town America is better off: Inflation-adjusted income is up 3.8% per person since 2007.
The nation's oil and gas boom is driving up income so fast in a few hundred small towns and rural areas that it's shifting prosperity to the nation's heartland, a USA TODAY analysis of government data shows. The 261 million people who live in cities and suburbs still haven't recovered earning power lost in the economic downturn. Average income per person fell 3.5% in metropolitan areas between 2007 and 2011 after adjusting for inflation, according to data released Monday by the federal Bureau of Economic Analysis. By contrast, small-town America is better off than before: Inflation-adjusted income is up 3.8% per person since 2007 for the 51 million in small cities, towns and rural areas. USA Today
Submitted 2 years 167 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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