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LETTER: Trade Agreements are Ruining America
Do you ever call a tech and can’t understand what they are saying? Or is your income not keeping up with rising prices. Or you can’t find goods that have been made in America? The trade pact NAFTA has contributed to all of these things. It has led to lower wages, job losses, outsourcing, and even a loss of American sovereignty. Trade pacts such as NAFTA are regional arrangements that are foreign governing bodies that take control over not just trade but also regulations that have nothing to do with trade. pagosadailypost.com
Submitted 2 years 116 days ago

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History’s largest trade agreements are being negotiated in secret
In August 2007, then–presidential candidate Barack Obama vowed that, if elected, he would “immediately” amend the North Atlantic Free Trade Agreement (NAFTA), which the U.S. signed with Mexico 13 years earlier. “Our trade agreements should not just be good for Wall Street. It should also be good for Main Street,” he said, objecting to the influence of corporate lobbyists over labor unions and other groups in negotiating trade agreements. Six years later, with NAFTA still untouched, Obama faced the decision to appoint the chief U.S. negotiators for the two largest trade agreements in history. And he picked Wall Street bankers for the job. aljazeera.com
Submitted 2 years 116 days ago

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Twenty years after NAFTA, a mini Detroit rises in Mexico
Saltillo, MEXICO -- On a hilltop along the edge of this northeast Mexican city, row upon row of tiny stucco homes are sprouting. They are being erected on orders of the federal government, which envisions an influx of families from distant pueblos looking for salvation in the booming automotive industry. Driving into town, workers are greeted by a gargantuan, American-style mall with a Walmart, Nine West and a Liverpool department store that invites customers to shop now and pay later, a rather new concept in this country. mlivd.com
Submitted 2 years 116 days ago

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Delta Faces Labor Push As Machinists Eye Flight Attendants
An energized labor movement is ready to take another run at organizing Delta, despite its historic lack of success at the Atlanta-based carrier and in the South. The International Association of Machinists (IAM) said it began working nearly two years ago to organize Delta’s 20,000 flight attendants, staging meetings at domestic bases and in Europe. “Delta made a lot of promises during the merger with Northwest,” said IAM spokesman Joe Tiberi. “Now, several years later, people have seen that those promises were not kept.” For example, Tiberi said, Delta boosted flight attendant salaries, but also raised the cost of employee health care. Forbes
Submitted 2 years 116 days ago

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Mercedes labor chief seeks UAW foothold in Alabama
The head labor official on Daimler AG's supervisory board says he considers it "unacceptable" that the German automaker's Mercedes plant in Alabama stands alone among the company's factories around the world without union representation for its workers. Detroitnews.com
Submitted 2 years 116 days ago

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UAW, two German labor groups link to organize VW in Tennessee: report
The United Auto Workers union and two top German labor groups have signed a letter of intent to jointly organize the Volkswagen AG (VOWG_p.DE) assembly plant in Chattanooga, Tennessee, a newspaper reported late on Sunday. UAW Secretary-Treasurer Gary Casteel told the Chattanooga Times Free Press that the move was a big step toward creating a German-style works council at the plant. The UAW had lost a vote to represent about 1,500 workers there early this year. Reuters
Submitted 2 years 116 days ago

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Volkswagen Has A Complex Labor Situation On Its Hands In Tennessee
The United Auto Workers union and two top German labor groups have signed a letter of intent to jointly organize the Volkswagen AG assembly plant in Chattanooga, Tennessee, a newspaper reported late on Sunday. Business Insider
Submitted 2 years 116 days ago

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Here's Where You Can Score Free Coffee On National Coffee Day
Dozens of coffee shops across the country are offering a free cup of Joe today in honor of National Coffee Day. We compiled a list of all the national chains where you can score free coffee for the day. Business Insider
Submitted 2 years 116 days ago

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Dallas Fed Manufacturing Beats Expectations
The September report on manufacturing from the Dallas Federal Reserve came in at 10.8, up from 6.8 last month and better than the 10.5 that was expected. Perceptions of broader business conditions were more optimistic this month. The general business activity index moved up to a reading of 10.8, nearly four points above its nonrecession average of 7. The company outlook index rose from 1.5 to 5.8, due to a larger share of firms noting an improved outlook in September than in August," the report said. Business Insider
Submitted 2 years 116 days ago

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A High Frequency Trader Is Selling The Most Expensive Home In Houston For $43 Million
This is the most expensive house ever listed for sale in Houston. The Wall Street Journal's Candace Taylor reports that it is owned by Wilbur Bosarge Jr., co-founder of high-frequency trading firm Quantlab Financial. According to the realtor, Bosarge and his wife are selling the home because they're often outside Houston, in other homes they own around the world. Business Insider
Submitted 2 years 116 days ago

 

 

 

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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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