Business

Business
12:59 pm
Tue January 15, 2013

Survey: Texas an 'Oasis' for Businesses, Austin Shows 'Overall Friendliness'

http://www.flickr.com/photos/schidambara/

Texas has been courting businesses for some time now, attracting job creators and corporations to the state in droves.

State and city officials have lured corporations in with sales tax incentives. That's prompted accusations of corporate welfare and ill-gotten subsidies, but the state’s dance card is full when it comes to reeling in businesses. In fact, the state’s attracted more businesses than most.

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Business
5:00 am
Tue January 15, 2013

Here's the ABCs of P3s (aka Public-Private Partnerships)

The Texas Sunset Advisory Commission is recommending tighter laws governing some public-private partnerships.
Erik Reyna, KUT News

Public-private partnerships have been back in the news lately,  after the Sunset Advisory Commission put a halt to some development projects being discussed for the Capitol area. Lawmakers want to tighten up some of the laws governing the Texas Facilities Commission and public-private partnerships, or P3's.

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Business
7:34 pm
Mon January 14, 2013

Report: Dell Could Go Private

Dell Inc's headquarters in Round Rock. Dell stock surged on word the publicly-traded company could go private.
Dell Inc.

Shares in computer-maker Dell Inc. surged by 13 percent Monday on rumors the Round Rock based company could go private. Bloomberg News cites anonymous sources as saying Dell is in talks with at least two private equity firms.

John Doggett is a lecturer at the University of Texas McCombs School of Business. He says the talks come as Dell is shifting its business strategy away from PCs.

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Business
5:15 pm
Fri January 11, 2013

Austin-based Bazaarvoice Says It Will Win Anti-Trust Challenge

flickr.com/photos/26481114@N07

Austin-based software company Bazaarvoice Inc. says it is confident it will win a lawsuit filed by the U.S. Department of Justice (DOJ) Thursday.

The Justice Department sued the company over its acquisition of San Francisco-based PowerReviews Inc. last year. The DOJ claims Bazaarvoice “eliminated its most significant rival and effectively insulated itself from meaningful competition.”

In a statement, Bazaarvoice responded that there is “still robust competition for ratings and reviews all over the social commerce landscape.”

Business
5:22 am
Fri January 11, 2013

Documented or Not, Tax Time is Coming

Even undocumented immigrants can file tax returns.
KUT News

Contrary to what you may have heard, people in the country illegally can file a return. They use a special IRS-issued number called an individual taxpayer identification number (ITIN). But new IRS rules effective this month mean some changes for people using ITINs.

In 2010, the latest available data from the IRS, nearly 18 million people paid their taxes with ITINs.

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Business
2:53 pm
Wed January 9, 2013

Dell Loses Senior Executive

The 2011 Dell World conference, during Dave Johnson's tenure at the company.
flickr.com/dellphotos

Until yesterday, Dave Johnson was a part of computer company Dell’s strategy to turn the once-dominant company around. But Dell declared yesterday that Johnson is ditching the tech industry altogether to take a senior position with an investment company.

In 2009 Johnson jumped ship from IBM to Dell as senior vice president for corporate strategy. The company’s intention was to catapult from personal computers into the tech service market, alongside giants like IBM and Hewlett-Packard. 

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real estate
6:15 pm
Tue January 8, 2013

Forecast: Almost 10,000 New Home Starts Expected in 2013

Nathan Bernier, KUT News

Construction could begin on 8,800 to 9,600 new single-family homes in 2013, according to an annual forecast by Eldon Rude, the Austin analyst with the real estate tracking firm MetroStudy. Rude delivered his forecast this morning before a group of realtors and home builders. The growth would represent an increase of 10 to 20 percent. 

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Economy
3:30 pm
Fri January 4, 2013

As 2013 Begins, A 'Pretty Positive' Job Outlook

The health care sector added 45,000 jobs in December and is expected to see continued growth this year, economists say.
iStockphoto.com

Originally published on Fri January 4, 2013 1:40 pm

If you're searching for work in this new year, the Labor Department's final jobs report for 2012 suggests: The trend is your friend in 2013.

The jobs outlook is actually "pretty positive," said John Challenger, chief executive officer of Challenger, Gray & Christmas, an employment consulting firm.

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Economy
8:09 am
Fri January 4, 2013

155,000 Jobs Added in December, Jobless Rate at 7.8 Percent

Looking for work: The scene at a "diversity job fair" in Manhattan last month.
John Moore Getty Images

Originally published on Fri January 4, 2013 11:00 am

There were 155,000 jobs added to public and private payrolls in December, the Bureau of Labor Statistics reported Friday morning.

That's right in line with economists' expectations and is another sign of steady, though modest, growth in employment. In November, employers added an estimated 161,000 jobs. The average monthly gain in 2012 was 153,000 jobs, BLS says. That's the same average as in 2011.

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Economy
8:16 am
Thu January 3, 2013

Layoffs Have Slowed, Hiring Has Picked Up, But Jobless Claims Are Higher

The scene at a career fair in New York City last fall.
Mike Segar Reuters /Landov

Originally published on Thu January 3, 2013 7:46 am

Update at 8:40 a.m. ET. Jobless Claims Went Up; So Two Out Of Three Reports Were Positive:

There were 372,000 first-time claims for unemployment insurance last week, up by 10,000 from the week before, the Employment and Training Administration says. What's more, that previous week's total was revised up from the previous estimate of 350,000.

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Economy
2:41 pm
Wed January 2, 2013

Economists See (OK-ish) Growth In 2013

Farmer Randy Dreher unloads corn from his combine during harvest north of Audubon, Iowa. Farm exports are booming and high global prices are helping growers despite the U.S. drought.
Gary Fandel/Iowa Farm Bureau AP

Originally published on Thu January 3, 2013 8:07 am

Suddenly, the new year is looking a bit brighter — at least in the eyes of most economists and investors.

On Day 1 of 2013, Congress voted to veer away from the "fiscal cliff" by passing a package of provisions that avoided broad tax hikes and big spending cuts. And on Day 2, stock prices shot up.

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Economy
9:33 am
Thu December 27, 2012

Jobless Claims Fell by 12,000 Last Week

The line at a job fair earlier this month in Manhattan.
John Moore Getty Images

Originally published on Thu December 27, 2012 7:45 am

There were 350,000 first-time claims for unemployment benefits last week, down 12,000 from the week before, the Employment and Training Administration reports. That's the lowest level since early March 2008.

The agency adds that "the 4-week moving average," which tends to smooth out some of the volatility that comes with the weekly figures, "was 356,750, a decrease of 11,250 from the previous week's revised average of 368,000."

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real estate
2:39 pm
Thu December 20, 2012

Central Texas Home Sales Hit 5 Year High

An Austin home listed for sale in November 2011
Flickr user fabfemme http://www.flickr.com/photos/fabfemme/6312897308/

It’s probably the last measure of the Austin housing market we’ll get this year. And the Austin Board of Realtors' newest report suggests home sales are ending 2012 on a high note.

Austin-area home sales hit a five year high in November, according to the report, the 18th straight month of increased sales. Last month, 1,671 single-family homes were sold. That’s  23 percent more than in November of 2011.  Condominium sales increased slightly more, by 26 percent.  

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Business
4:51 pm
Wed December 12, 2012

Listen: Bill Clinton Describes 'The Dumbest Thing' He Ever Heard

Clinton adressed the Dell World 2012 conference today.
Filipa Rodrigues for KUT News

Former president Bill Clinton was in Austin today to speak at Dell's annual business and technology conference. He touted Dell’s announcement of a partnership with the Clinton Global Initiative University – and also recalled a forehead-slapping a moment with a former Texas Senator.

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Economy
2:04 pm
Wed December 12, 2012

Fed Boosts Economic Efforts

The Federal Reserve's headquarters in Washington, D.C.
Karen Bleier AFP/Getty Images

Originally published on Wed December 12, 2012 12:07 pm

Saying it is concerned that the economy won't be strong enough in coming months to keep adding jobs to the labor market, the Federal Reserve announced this afternoon that is increasing its efforts to give the economy a boost.

And in an unusually specific statement from the central bank, its policymakers said they expect to keep a key short-term interest rate at or near zero percent "as long as the unemployment rate remains above 6.5 percent."

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Formula 1
1:18 pm
Wed December 12, 2012

F1 Organizers Get $29.3 Million From State Comptroller

How much F1 'fueled' Austin's economy is yet to be determined.
Filipa Rodrigues for KUT News

The Texas Comptroller has paid the organizers of Austin’s Formula 1 race more than $29 million from the state’s Major Events Trust Fund.

The trust fund uses tax revenues generated by an event to cover expenses related to the event.

“We pay them back $29.3 million because we’re saying, basically, that there’s been an incremental tax increase of $29.3 million so we’re going to let you have that money to pay you back for expenses that you had bringing the event here," Lauren Willis, director of communications for the Texas Comptroller, says.

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Labor
11:26 am
Tue December 11, 2012

Michigan Governor Signs Right-To-Work Bills Into Law

Union members from around the country rallied outside the Michigan State Capitol in Lansing as lawmakers voted on the right-to-work legislation.
Bill Pugliano Getty Images

Originally published on Tue December 11, 2012 8:06 pm

Update at 6:00 p.m. ET:

Michigan Gov. Rick Snyder has signed into law two controversial "right-to-work" bills passed earlier Tuesday by the state's House. This officially makes Michigan the 24th right-to-work state in the nation.

The two bills give both public and private employees so-called right-to-work protections — controversial pieces of legislation that have sparked protests in and around the state capitol in Lansing.

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Economy
10:35 am
Tue December 11, 2012

Incentives for Business Scrutinized in Texas

Todd Wiseman, Texas Tribune

The billions of dollars in incentives that Texas hands out to businesses each year are set to draw fresh scrutiny this week on the heels of a New York Times series that raised new questions about the practice while also ruffling some feathers.

On December 3, the Times devoted Part 2 of its three-part “United States of Subsidies” series to Texas. The article alleged that the state gives out $19.1 billion a year in business incentives, far more than any other state. (Disclosure: The Texas Tribune has a content partnership with The New York Times.)

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Economy
7:53 am
Tue December 11, 2012

What Happens If We Fall Off the 'Fiscal Cliff'?

iStockphoto.com

Originally published on Tue December 11, 2012 9:55 am

Lines of communication remain open in an effort to avert the automatic tax hikes and spending cuts known as the "fiscal cliff," according to the White House and House Speaker John Boehner.

If no deal is reached between now and the end of the year, would the consequences be that drastic?

To answer that question, let's imagine it's January and the nation has gone off the "fiscal cliff." You don't really feel any different and things don't look different, either. That's because, according to former congressional budget staffer Stan Collender, the cliff isn't really a cliff.

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Economy
10:22 am
Fri December 7, 2012

Unemployment Drops To 7.7 Percent; Economy Adds 146K Jobs

Originally published on Fri December 7, 2012 10:44 am

The unemployment rate dropped to 7.7 percent in November, the Bureau of Labor Statistics says. That's a four-year low.

The economy added 146,000 jobs, beating expectations. Surprisingly the BLS said that Hurricane Sandy "did not substantively impact the national employment and unemployment estimates for November."

The BLS adds that employment increased "in retail trade, professional and business services, and health care."

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