Economy http://kut.org en Oil and Gas Companies Are Now Poaching Employees From Each Other http://kut.org/post/oil-and-gas-companies-are-now-poaching-employees-each-other <p>The global boom in energy production driven by <a href="http://stateimpact.npr.org/texas/2014/05/05/lawsuit-highlights-concern-over-air-quality-and-shale-drilling/">fracking</a>&nbsp;and horizontal drilling is leading to a shortage of skilled workers. A <a href="http://www.businesswire.com/news/home/20140506006268/en/Retirement-Wave-Technical-Skills-Gap-Threaten-Oil#.U2l7Zq1dUyw">new report</a> by the human resources firm <a href="http://www.imercer.com/content/mercer-about-us.aspx">Mercer</a> says two-thirds of oil and gas companies are now poaching employees from their competitors.</p><p>"The industry seems inclined when an individual is trained and developed by a competitor to, especially in the first five years of employment, go after that key talent, as opposed to training and developing their own,"&nbsp;<span style="line-height: 1.5;">&nbsp;says Philip&nbsp;</span><span style="line-height: 1.5;">Tenenbaum, a senior partner at</span><span style="line-height: 1.5;">&nbsp;Mercer.&nbsp;</span></p><p><span style="line-height: 1.5;">He says in some cases, the practice has become quite overt. &nbsp;</span></p><p> Wed, 07 May 2014 00:43:58 +0000 Nathan Bernier 10368 at http://kut.org Oil and Gas Companies Are Now Poaching Employees From Each Other No More Cheap Margaritas? Why Lime Prices Are On the Rise http://kut.org/post/no-more-cheap-margaritas-why-lime-prices-are-rise <p>These days restaurants are spending obscene amounts of money on limes.&nbsp;<span style="line-height: 1.5;">Think about what that means for Mexican food alone: limes are used in practically everything, from margaritas to </span>ceviche<span style="line-height: 1.5;"> to guacamole.</span></p><p>Last week, the rising price of limes became personal for this reporter.</p><p>I stopped by La Moreliana, a small eatery in southeast Austin that serves up authentic tacos. The food was great – but the tacos were missing the citrusy, acidic bite only lime juice can add.&nbsp;</p><p><iframe frameborder="no" height="166" scrolling="no" src="https://w.soundcloud.com/player/?url=https%3A//api.soundcloud.com/tracks/141297149&amp;color=ff5500&amp;auto_play=false&amp;hide_related=false&amp;show_artwork=true" width="100%"></iframe></p><p> Tue, 25 Mar 2014 14:25:46 +0000 Joy Diaz 10027 at http://kut.org No More Cheap Margaritas? Why Lime Prices Are On the Rise Bitcoin Exchange Mt. Gox Goes Dark After Theft Report http://kut.org/post/bitcoin-exchange-mt-gox-goes-dark-after-theft-report "The website of major bitcoin exchange Mt. Gox was offline Tuesday amid reports it suffered a debilitating theft, a new setback for efforts to gain legitimacy for the virtual currency," <a href="http://www.npr.org/templates/story/story.php?storyId=282335422" target="_blank">The Associated Press reports</a>.<p>Also Tuesday, all the posts had been <a href="https://twitter.com/MtGox" target="_blank">erased from the Mt. Tue, 25 Feb 2014 15:53:01 +0000 Mark Memmott, NPR 9843 at http://kut.org Bitcoin Exchange Mt. Gox Goes Dark After Theft Report Austin OKs Economic Incentives for Dropbox, Websense (Update) http://kut.org/post/austin-oks-economic-incentives-dropbox-websense-update <p><strong>Update</strong>:&nbsp;<span style="line-height: 1.5;">Dropbox and Websense will receive economic incentives to expand in Austin.</span></p><p>The Austin City Council voted 5-2 today to offer the two tech companies approximately $700,000 in incentives.&nbsp;The money comes on top of $6 million from the Texas Enterprise Fund.&nbsp;</p><p> Thu, 20 Feb 2014 22:54:39 +0000 Andrew Huygen & Trey Shaar 9752 at http://kut.org Austin OKs Economic Incentives for Dropbox, Websense (Update) City Council Approves Athenahealth Incentives Deal - But Not Unanimously http://kut.org/post/city-council-approves-athenahealth-incentives-deal-not-unanimously <p>Last night the Austin City Council approved a deal that offers nearly $680,000 dollars in incentives for <a href="http://www.athenahealth.com/">athenahealth</a> to expand in Austin. The grant will be offered in addition to a $5 million subsidy from Gov. Rick Perry's <a href="http://governor.state.tx.us/ecodev/financial_resources/texas_enterprise_fund/">Texas Enterprise Fund</a>.</p><p>But not everyone is happy with the deal. Some council members argue that the city’s booming economy doesn’t need to offer subsidies to bring business to Austin. (The deal passed on a 5-2 vote, with city council members Laura Morrison and Kathie Tovo voting no.)</p><p><a href="http://www.infactdaily.com/">Austin Monitor</a> publisher Michael&nbsp;Kanin&nbsp;says that this debate is heating up as council members become increasingly divided on the issue of business incentives.</p><p> Fri, 31 Jan 2014 17:45:55 +0000 Phoebe Flanigan 9688 at http://kut.org City Council Approves Athenahealth Incentives Deal - But Not Unanimously Almost Half of Texas Lacks Savings to Cover Job Loss, Medical Emergency http://kut.org/post/almost-half-texas-lacks-savings-cover-job-loss-medical-emergency <p>Another national report card is out, and Texas households are still struggling to beef up their savings.&nbsp;</p><p>Almost half of Texas households don’t have enough savings to pay for basic expenses for three months, which means most families aren’t prepared in the event of a job loss or health emergency.</p><p>According to the Corporation for Enterprise Development’s <a href="http://assetsandopportunity.org/scorecard/" target="_blank">2014 Assets and Opportunity Scorecard</a>, the state’s policies are also not helping residents achieve financial security.</p><p><iframe frameborder="no" height="166" scrolling="no" src="https://w.soundcloud.com/player/?url=https%3A//api.soundcloud.com/tracks/132193855&amp;color=ff5500&amp;auto_play=false&amp;hide_related=false&amp;show_artwork=true" width="100%"></iframe></p><p> Thu, 30 Jan 2014 17:26:29 +0000 Veronica Zaragovia 9679 at http://kut.org Almost Half of Texas Lacks Savings to Cover Job Loss, Medical Emergency Should Austin Offer Economic Incentives? Athenahealth Deal Stirs Debate http://kut.org/post/should-austin-offer-economic-incentives-athenahealth-deal-stirs-debate <p>Austin’s facing a familiar question: whether to approve&nbsp;<span style="line-height: 1.5;">economic incentives</span><span style="line-height: 1.5;"> luring new jobs to town.</span></p><p>Today, the Austin City Council was briefed on a proposal for incentives for health IT company <a href="http://www.athenahealth.com/" target="_blank">Athenahealth</a>.</p><p>Massachusetts-based Athenahealth – which currently employs 36 Austinites in offices at The Domain – is promising a new research and development center. Located inside the former Sealholm Power Plant in downtown Austin, the company says it would create 607 new jobs over 10 years.</p><p> Thu, 23 Jan 2014 21:14:13 +0000 Kelly Krupa 9629 at http://kut.org Should Austin Offer Economic Incentives? Athenahealth Deal Stirs Debate The Texas Economy in 2014: Signs of a Slight Slowdown? http://kut.org/post/texas-economy-2014-signs-slight-slowdown <p><span style="line-height: 1.5;">For the nation's economy, &nbsp;2013 is a story of a continued comeback following a devastating&nbsp;recession.&nbsp;</span></p><p><span style="line-height: 1.5;">And for Texas? &nbsp;Well, the story's slightly different. &nbsp;</span></p><p><span style="line-height: 1.5;">Keith Phillips, analyst with the Dallas Federal Reserve Bank says there's no question 2013 was a good year for the Texas economy with growth in most sectors.</span></p><p><span style="line-height: 1.5;">Phillips says the low cost of living, in addition to the low cost of doing business in&nbsp;Texas has helped the Lone Star State maintain a job growth rate a full percentage point higher than the national average in 2013. &nbsp;But the energy exploration boom that's been fueling an expansion of jobs, construction and exports appears to be tapering off.</span></p><p><iframe frameborder="no" height="166" scrolling="no" src="https://w.soundcloud.com/player/?url=https%3A//api.soundcloud.com/tracks/125633317&amp;color=ff6600&amp;auto_play=false&amp;show_artwork=true" width="100%"></iframe></p><p> Mon, 30 Dec 2013 13:00:00 +0000 David Brown 9411 at http://kut.org The Texas Economy in 2014: Signs of a Slight Slowdown? Why In-N-Out Burger Pays More Than Other Fast Food Joints http://kut.org/post/why-n-out-burger-pays-more-other-fast-food-joints <p><span style="line-height: 1.5;">Austinites got a taste of California yesterday with the opening of the city’s <a href="http://hosted.where2getit.com/innout/newdesign/?form=locator_search&amp;addressline=Austin+TX+78705&amp;search=&amp;state=&amp;geoip=1">first In-N-Out Burger&nbsp;at 45th and Airport</a>. The drive thru is known for made-to-order burgers and an ordering system that allows you to micromanage your meal. (Want your bun extra toasted? <a href="http://aht.seriouseats.com/archives/2011/03/the-in-n-out-survival-guide-we-ate-every-single-item-on-the-secret-menu.html">Just ask</a>.)&nbsp;</span></p><p><span style="line-height: 1.5;">In-N-Out Burger&nbsp;<a href="http://www.in-n-out.com/menu/food-quality.aspx">has no freezers.</a> No microwaves. No heat lamps. And In-N-Out has been quietly going against another trend in the low-wage, low-benefit fast food industry: they're paying their employees much more than the industry standard.&nbsp;</span></p><p><span style="line-height: 1.5;"><iframe frameborder="no" height="166" scrolling="no" src="https://w.soundcloud.com/player/?url=https%3A//api.soundcloud.com/tracks/124670710&amp;color=ff6600&amp;auto_play=false&amp;show_artwork=true" width="100%"></iframe></span></p><p> Fri, 13 Dec 2013 17:43:29 +0000 Terrence Henry 9366 at http://kut.org Why In-N-Out Burger Pays More Than Other Fast Food Joints Income Inequality Is The 'Challenge Of Our Time,' Obama Says http://kut.org/post/income-inequality-challenge-our-time-obama-says President Obama tried Wednesday to turn the conversation back to the economy, calling the growing income gap the "defining challenge of our time."<p>"Some of you may have seen just last week the pope himself spoke about this at eloquent length," <a href="http://talkingpointsmemo.com/livewire/obama-cites-pope-francis-views-on-inequality-in-economic-address">Obama said</a>. "How can it be, he wrote, that it's not a news item when an elderly homeless person dies of exposure, but it is news when the stock market loses two points. But this increasing inequality is most pronounced in our country. Wed, 04 Dec 2013 18:09:21 +0000 9310 at http://kut.org Income Inequality Is The 'Challenge Of Our Time,' Obama Says With Shinola, Dallas Entrepreneur Brings Manufacturing Back to Detroit http://kut.org/post/shinola-dallas-entrepreneur-brings-manufacturing-back-detroit <p>Think of Detroit, and you likely think of a city past its prime.</p><p>But while Detroit faces an uphill climb since filing for bankruptcy in July, Heath Carr, CEO of Dallas-based&nbsp;Bedrock Manufacturing, has taken a decidedly bullish perspective on the city: His group is the parent company of <a href="Carr">Shinola</a>, a company manufacturing American-made watches, bicycles, leather goods and more in the Motor City.</p><p>“If you come to Detroit, you spend time there, you get to know the people," Carr says. "The people that care about moving it forward, it's an energy you want to be part of.”</p><p>Listen to Carr speak with KUT's David Brown:</p><p><iframe frameborder="no" height="166" scrolling="no" src="https://w.soundcloud.com/player/?url=https%3A//api.soundcloud.com/tracks/121071392" width="100%"></iframe></p><p> Tue, 26 Nov 2013 14:38:25 +0000 David Brown 9230 at http://kut.org With Shinola, Dallas Entrepreneur Brings Manufacturing Back to Detroit How a Mexican Boom Could Be the Next Big Thing for Texas http://kut.org/post/how-mexican-boom-could-be-next-big-thing-texas <p dir="ltr" id="docs-internal-guid-20cead22-9ebd-4129-4373-c8d44b70d6ab" style="line-height:1.15;margin-top:0pt;margin-bottom:0pt;"><span style="font-size:15px;font-family:Arial;color:#000000;background-color:transparent;font-weight:normal;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;">This year, economists in Mexico are predicting an anemic growth rate for the country of 1.7 percent. Some say the number could be closer to 1.4 percent. However, longtime Mexico watchers, including Brookings analyst Joseph Parilla, say that’s not the <em>big</em> story. &nbsp;</span></p><p dir="ltr" style="line-height:1.15;margin-top:0pt;margin-bottom:0pt;"><br /><span style="font-size:15px;font-family:Arial;color:#000000;background-color:transparent;font-weight:normal;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;">“In the Mexican case, they had robust growth last year and if you look past 2013, projections are still relatively good,” Parilla says. “Growth rates are between 3.5 and 4 percent over the next five years. I think the general consensus is while 2013 will prove a difficult year for the Mexican economy, there should be a pretty quick rebound after."<iframe frameborder="no" height="166" scrolling="no" src="https://w.soundcloud.com/player/?url=http%3A%2F%2Fapi.soundcloud.com%2Ftracks%2F114595440" width="100%"></iframe></span></p><p> Wed, 09 Oct 2013 20:16:49 +0000 David Brown 8899 at http://kut.org How a Mexican Boom Could Be the Next Big Thing for Texas New Branch of Texas A&M Could Shake up Fort Hood's Economy http://kut.org/post/new-branch-texas-am-could-shake-fort-hoods-economy <p></p><p>The Army announced recently that it plans <a href="http://http//www.npr.org/templates/story/story.php?storyId=195799319">to eliminate combat brigades</a>&nbsp;at 12&nbsp;military bases. That’s a total of 80,000 soldiers. The cutbacks come as communities are already dealing with government furloughs. But military towns are trying to keep the old boom and bust economy a thing of the past.</p><p>Fort Hood is like a city. When it became a base in the 1940s, it cleared out 1,200 farms. Now it’s home to more than 40,000 assigned soldiers and tens of thousands of civilian workers. The base brings $25 billion to the Texas economy each year.</p><p> Wed, 17 Jul 2013 14:40:00 +0000 Luke Quinton 8370 at http://kut.org New Branch of Texas A&M Could Shake up Fort Hood's Economy Austin-Area Home Sales Jump 29%, Setting New Record for May http://kut.org/post/austin-area-home-sales-jump-29-setting-new-record-may <p><span style="line-height: 1.5;">More homes sold in the Austin-area last month than in any May on record, according to </span><a href="https://www.abor.com/news_media/press_releases/2013/p13_13.cfm" style="line-height: 1.5;">a report by the Austin Board of Realtors</a><span style="line-height: 1.5;">. Their analysis of MLS Listings shows 2,991 homes were sold in May, an increase of 29 percent over the same month last year.</span></p><p>The increased demand sent the median home price up by eight percent to $231,500. The average home is sitting on the market for just 44 days, which is 19 days less than May last year, according to the report.</p><p> Thu, 20 Jun 2013 23:52:22 +0000 Nathan Bernier 8187 at http://kut.org Austin-Area Home Sales Jump 29%, Setting New Record for May Labor Sec. Seth Harris on How to Reduce the Deficit by $200 Billion http://kut.org/post/labor-sec-seth-harris-how-reduce-deficit-200-billion <p><iframe frameborder="no" height="130" scrolling="no" src="https://w.soundcloud.com/player/?url=http%3A%2F%2Fapi.soundcloud.com%2Ftracks%2F97609589&amp;color=ff3700&amp;auto_play=false&amp;show_artwork=true" width="100%"></iframe></p><p>This week Congress will take up what some say is a long overdue reform of national immigration policy. The U.S. has been slow to recover from the recession, and U.S. Secretary of Labor Seth Harris says this overhaul could be a boon for the economy.&nbsp;</p><p> Wed, 19 Jun 2013 22:20:39 +0000 David Brown 8175 at http://kut.org Labor Sec. Seth Harris on How to Reduce the Deficit by $200 Billion Report: Overdraft Protection Puts Customers 'At Greater Risk' http://kut.org/post/report-overdraft-protection-puts-customers-greater-risk The Consumer Financial Protection Bureau is looking at how overdraft fees affect consumers in <a href="http://files.consumerfinance.gov/f/201306_cfpb_whitepaper_overdraft-practices.pdf">a detailed report released Tuesday</a>.<p>One of the stunning finds: "Overdraft and non-sufficient funds fees accounted for 61 percent of total consumer deposit account service charges in 2011 among the banks in the CFPB report."<p>If you remember, the Federal Reserve passed a regulation in 2010 that required consumers to opt-in to these kinds of services. Tue, 11 Jun 2013 17:04:33 +0000 8069 at http://kut.org Report: Overdraft Protection Puts Customers 'At Greater Risk' Report: More than 1 in 5 Austin Area Jobs Require STEM Skills http://kut.org/post/report-more-1-5-austin-area-jobs-require-stem-skills <p>More than 22 percent of Austin area jobs require specialized STEM skills. STEM stands for Science, Technology, Engineering and Math.</p><p>A <a href="http://www.brookings.edu/research/reports/2013/06/10-stem-economy-rothwell" target="_blank">study released by the Brookings Institution</a> today shows Austin’s percentage of STEM jobs in 2011 was slightly higher than the national average of 20 percent.</p> Mon, 10 Jun 2013 13:09:25 +0000 Laura Rice 8054 at http://kut.org Report: More than 1 in 5 Austin Area Jobs Require STEM Skills Austin Bitcoiners Bring Online Currency Offline, Into Stores http://kut.org/post/austin-bitcoiners-bring-online-currency-offline-stores <p></p><p>Bitcoin is blowing up, both in the successful and not-so-successful sense.</p><p>The currency is as volatile as a Texas summer is miserably hot. But the volatility’s not stopping Austin movers and shakers from capitalizing on the craze.</p><p>Last week, a&nbsp;Bitcoin&nbsp;startup that will help grow the online currency&nbsp;<a href="http://www.mystatesman.com/news/business/angel-investors-form-a-network-to-support-bitcoin-/nX6Px/">popped up in Austin</a>. But some Austin&nbsp;Bitcoin’ers&nbsp;are trying to moving the currency offline and into the real world.</p><p> Thu, 06 Jun 2013 14:15:00 +0000 Andrew Weber 7330 at http://kut.org Austin Bitcoiners Bring Online Currency Offline, Into Stores Austin Home Sales Surged 32 Percent in April http://kut.org/post/austin-home-sales-surged-32-percent-april <p><span style="line-height: 1.5;">Austin area home sales jumped by 32 percent in April compared to the same month last year. </span><a href="https://www.abor.com/news_media/press_releases/2013/p9_13.cfm" style="line-height: 1.5;">The Austin Board of Realtors says</a><span style="line-height: 1.5;">&nbsp;2,563 single-family homes were sold last month.</span></p><p></p><p><span style="line-height: 1.5;">That marks a nine-year high for the month of April, and it represents the twenty-third straight month of year-over-year sales increases.&nbsp;</span></p><p> Tue, 21 May 2013 23:32:41 +0000 Nathan Bernier 7830 at http://kut.org Austin Home Sales Surged 32 Percent in April Austin Jobless Rate Dips to 5.1 Percent http://kut.org/post/austin-jobless-rate-dips-51-percent <p>Austin’s economy added 30,500 jobs over the last year. The<a href="http://www.twc.state.tx.us/news/press/2013/051713epress.pdf"> latest employment report</a> shows the jobless rate dropped to 5.1 percent last month from 5.6 percent in April 2012.&nbsp;</p><p>The recent job growth happened as more people were moving to the Austin-area looking for work. The civilian labor force grew by more than 27,000 in the past 12 months.</p><p> Fri, 17 May 2013 19:30:00 +0000 Nathan Bernier 7781 at http://kut.org Austin Jobless Rate Dips to 5.1 Percent