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Governors meet on Savannah River port
The governors of Georgia and South Carolina met privately and far from their statehouse offices Friday to discuss disagreements that have left years of cooperation toward building a shared seaport on the Savannah River in limbo. They left without saying if they were any closer to a resolution.
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Area's construction job losses among worst
Metro Atlanta has seen some of the steepest declines in construction jobs in the country since peaking five years ago, a new study shows. The region has lost 56,100 construction jobs – a 40-percent drop since December 2006, according to a survey released Friday by industry group Associated General Contractors of America.
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Aaron's adds customers in 2011
Aaron's added customers in 2011 as a difficult economy led more people to the Atlanta-based rent-to-own furniture company for televisions and couches. In 2011, the company's customer base was up nearly 11 percent. Aaron's executive vice president and CFO Gilbert Danielson said he could not draw any conclusions about the state of the economy from the increase, but Aaron's customers tend to live week-to-week or month-to-month.
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Vogtle costs approved
State utility regulators signed off on the latest round of construction costs for Georgia Power’s Plant Vogtle nuclear expansion project Friday, a day after parent Southern Co. won federal approval to begin major construction. The approved costs cover the first six months of 2011.
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Southwest-AirTran deal: A timeline of two airlines
A history of Southwest and AirTran: 1967: Texas investors incorporate Air Southwest Co., a commuter airline serving that state. 1975: Company goes public, name changes to Southwest Airlines. 1979: Southwest expands its reach beyond Texas, flying to New Orleans.
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Southwest Airlines launch: What this means to you
Q: What flights is Southwest launching from Atlanta? A: Southwest launches its first flights from Atlanta Feb. 12 with routes to Austin, Baltimore/Washington, Chicago, Denver and Houston Hobby. Then in March it will begin flying to Las Vegas and Phoenix, in June to Los Angeles and in August to Norfolk, Louisville and Seattle/Tacoma.
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Georgia last in financial security
Georgians live closer to the financial edge than anyone else in the nation, and the danger extends beyond the poor to the middle class, according to a newly published in-depth analysis. The study by the Washington-based Corporation for Enterprise Development ranked Georgia dead last in terms of the financial security of its residents, based on factors such as their high debt load, lack of savings and assets, and the prevalence of personal bankruptcies.
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Senate committee passes bill targeting metal theft
A Senate committee approved legislation Thursday that would make it harder to sell stolen metal. Senate Bill 321, sponsored by Sen. Renee Unterman, R-Buford, would establish stiffer requirements for metal recyclers and sellers. The bill would prohibit cash payments for metal purchases and require metal recyclers to collect a digital image of the metal items, plus a thumbprint and copy of a valid identification card from the seller.
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New Ga. nuke plant OK'd
It’s official: Georgia will be the site of the nation’s first new nuclear reactors in more than 30 years. The Nuclear Regulatory Commission’s on Thursday approved Southern Co.’s plan to build two reactors at Plant Vogtle, south of Augusta -- though the decision was not without dissent.
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Georgia in foreclosure settlement
Georgia and 48 other states have reached a $25 billion deal with major lenders who have agreed to reduce mortgage loans and reimburse customers who became victims of overzealous foreclosures. The banks involved include Wells Fargo, Bank of America, JPMorgan Chase, Citigroup and Ally Financial.
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New reactors? We’ll hear today
The day before Southern Co. learns whether it will get the go-ahead to build the first newly approved nuclear reactors in 30 years, company executives sat in a crowded room of federal nuclear regulators telling them the $14 billion project is under strict management and oversight and will be built to the highest of standards.
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Airport concessions lay off 530
An airport concessions joint venture run by Atlanta-based Concessions International expects to lay off about 530 employees starting next month, though many of those workers could find jobs with new restaurants. Those affected in the move by the joint venture between Concessions International and Paschal’s include servers, bartenders, kitchen managers and others.
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Feds add $2.5M to Savannah River dredging
The agency overseeing plans to deepen the river channel to the Port of Savannah announced Wednesday it will funnel an additional $2.5 million in federal funding toward pre-construction planning, which Georgia port officials said should help keep the projected on target for completion by 2016.
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Atlanta police hoping to hire
Are you looking for a job? The Atlanta Police Department may be looking for you. The APD is holding a job fair beginning at 8 a.m. Monday on the 2nd floor of police headquarters, 226 Peachtree Street SW. Police Chief George Turner went before the City Council last year to request more funding to get the police force to 2,000 officers from about 1,800 currently.
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Norcross tennis club where Oudin trained is sold
The Racquet Club of the South in Norcross, where Marietta tennis sensation Melanie Oudin trained before competing in the U.S. Open and at Wimbledon, has been sold to Life Time Fitness, the company announced this week. The Racquet Club has eight indoor and 28 outdoor tennis courts at its complex on Courtside Drive.
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Equifax business up as banks loosen credit
Growth in Equifax’s U.S. consumer business helped improve earnings for the fourth quarter 2011, the Atlanta-based credit bureau said Wednesday. Equifax said revenue in its U.S. Consumer Information Solutions unit climbed 13 percent overall, driven by banks doing more business checking consumer credit and underwriting for mortgage refinances.
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Sprint posts deeper 4Q loss on iPhone costs
Sprint dug deep into its pockets in the latest quarter to put iPhones in the hands of its customers. The perennially money-losing company on Wednesday posted its largest loss in three years. Sprint Nextel Corp., once known for the worst customer service in the industry, has made progress on turning its fortunes around in the last few years.
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Only firm interested in Gwinnett airport wants commercial flights
A company that has lobbied for more than two years to bring commercial passenger service to Gwinnett County’s Briscoe Field is the only firm interested in running the airport. Propeller Investments, which has said it wants to launch service to New York, Chicago, Miami and a host of other cities, on Wednesday submitted the only proposal to operate the county airport near Lawrenceville.
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Charleston Harbor gets funds for channel deepening study
A $20 million study of deepening the Charleston Harbor shipping channel will continue now that the work has been included on the U.S. Army Corps of Engineers' work plan and $2.5 million in federal money made available. "This is the most significant federal contribution made thus far to the Charleston Harbor deepening effort," U.
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Tax officer discusses IKEA error costly to city
A tax officer says the Chatham County Assessor's Office placed an IKEA furniture distribution center in the unincorporated county at the same time it put the center's contents in Port Wentworth. The Savannah Morning News reports that interim Chief Appraiser Maryellen Burner discussed the discrepancy Tuesday as she was questioned about what led to the error.
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Hospitals seek consolidation
Atlanta Medical Center and financially ailing South Fulton Medical Center announced Wednesday that they will seek state permission to consolidate the two hospitals. Both hospitals are owned by the Tenet Healthcare Corp. The 338-bed South Fulton Medical Center in East Point has been losing millions of dollars annually in recent years, according to reports filed with the state.
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Firm to hire 350 in NE Ga.
Georgia Gov. Nathan Deal has announced that Tenneco, an automotive industry supply company, will expand its production lines and add 350 employees at its northeast Georgia facility. Authorities say the expansion will take place at the Lake Forest, Ill.
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Cable TV rates rising
Many of metro Atlanta Comcast customers started off the year with higher cable bills as the nation’s top cable provider raised rates for most of its TV packages. But frustrated customers may find little options elsewhere as competitors such as DirecTV and AT&T’s U-verse are bumping up their prices as well.
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BoA skyscraper a pricey repo
One of the biggest emblems of Atlanta's real estate boom became the biggest emblem of its bust on Tuesday. Bank of America Plaza, the South’s tallest skyscraper and an Atlanta skyline icon, was taken back by its lender at a foreclosure auction at the Fulton County Courthouse.
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Need for cash spurs golden opportunity
As a 12-year-old growing up in Atlanta, Scott Garber started dealing baseball cards. As a teenager, he moved to Beanie Babies, building what he said became an $8 million business around the plush collectibles. Now, he runs a growing chain of gold-buying stores.
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Developer plans to make bid for Philly newspapers
A wealthy real estate developer said Tuesday he and four partners plan to make an offer to buy the city's two largest newspapers, whose downtown offices he already owns. Bart Blatstein said he plans to pursue an acquisition of some or all of the assets of Philadelphia Media Network, which operates The Philadelphia Inquirer, the Philadelphia Daily News and their shared website, philly.
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DocX, founder indicted in robo-signing case
A shuttered Alpharetta company that provided home foreclosure services to lenders has been indicted on forgery charges in Missouri. In one of the few criminal actions in response to reports of widespread improprieties against homeowners, the company, DocX, and its Alpharetta founder and former president, Lorraine O.
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Deal signs bill making it easier to seek garnished wages
Gov. Nathan Deal has signed a bill into law that makes it easier for business to file garnishment requests in Georgia. Deal said Tuesday he's committed to working with the state Legislature to "reduce unnecessary regulation on businesses, large and small.
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Atlanta exec gets 8 years for Ponzi
An Atlanta businessman will spend 8 years in prison and must repay nearly $9 million for duping investors caught in his Ponzi scheme, prosecutors said Tuesday. Charles Michael Vaughn, 43, who operated a tax and financial consulting firm, persuaded 50 investors to invest millions in a pooled investment fund, or “hedge fund,” between July 2004 and March 2008, according to prosecutors and court testimony.
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Post Properties apartment market outlook upbeat
Atlanta-based apartment community developer Post Properties reported Tuesday its funds from operations – a key measure of strength – fell in the fourth quarter, following a hit from an early debt payoff. The company’s funds for operations for the last three months of 2011 was $20.
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ATL hotels, restaurants earn AAA diamonds
AAA has named its top hotels and restaurants in metro Atlanta and north Georgia. The travel group, in its annual review, has awarded its prestigious five diamond designation to six hotels -- the Four Seasons Atlanta, InterContinental Buckhead, St. Regis Atlanta and the Ritz-Carlton locations in downtown Atlanta, Buckhead and at Reynolds Plantation.
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Coke improves sales across board, but earnings down from 2010
Coca-Cola Chief Executive Officer Muhtar Kent said Tuesday that he expects price increases in commodities to moderate in 2012 compared with last year, but they may not have a balancing effect on the costs of the company's drinks over the next 11 months.
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Cobb EMC member seeks board seat after suing
Tripper Sharp, one of the plaintiffs who sued Cobb EMC in 2007, has decided to run for a seat on the co-op’s board of directors. Sharp plans to officially announce his candidacy on Monday. EMC members will vote March 31 on directors for six of the 10 board seats.
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Atlanta firm moving HQ, jobs to Wisconsin
An Atlanta-based company is moving its headquarters to Waukesha and plans to create more than 100 new jobs in Wisconsin. Gov. Scott Walker said Monday that Connecture, Inc. will be eligible for state tax credits of up to $1.2 million if they create 105 high-paying jobs within three years.
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Markets cautious as Greek talks drag on
Markets were in a cautious mood on Monday as talks dragged on between Greek political leaders over a fresh austerity package that is required if the debt-ridden country is to get a crucial bailout package. Even though another round of deadlines have passed, the prevailing mood in the markets is that Greece will get a debt-reduction deal with its private creditors as well as a second bailout from its partners in the eurozone and the International Monetary Fund.
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Local artist prevails in dispute with H&M
The threat of negative press can make for a powerful negotiating tool, as a former East Atlanta resident learned after successfully taking on the world's second-largest clothing retailer -- -with a powerful assist from social media. The saga began last month, when friends directed amateur folk artist Tori LaConsay, now living in Birmingham, to products sold on H&M's UK website that featured a design strikingly similar to one she created in 2008.
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Georgia-based military air carrier files to reorganize under Chapter 11
The Peachtree City-based Global Aviation Holdings Inc. – the nation’s largest charter air provider for the U.S. military – has filed to reorganize under Chapter 11 of the U.S. Bankruptcy Code, the company announced. In a news release dated Sunday, the parent of World Airways Inc.
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NCR to focus on hospitality, sells DVD-rental business
The Duluth technology company NCR is getting out of the movie-rental business, selling its Blockbuster Express kiosks as it seeks to expand its software and service businesses and focus on hospitality instead of entertainment. NCR's 10,000 kiosks and their DVDs will be sold to Redbox for up to $100 million and NCR has also signed a $25 million agreement with Redbox parent Coinstar to provide hardware, software and services to the company over five years.
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Defense cuts cost jobs, test U.S. lawmakers' resolve on deficits
President Barack Obama's call to shrink the military, shut bases and cancel weapons to meet the demand for budget cuts tests the resolve of lawmakers who came to Washington determined to slash the deficit. A new national security strategy reflecting an end to decade-long wars in Iraq and Afghanistan offers the opportunity to reduce defense spending and government deficits by hundreds of billions of dollars over the next 10 years — but at a cost of thousands of jobs in lawmakers' states and districts.
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Officials hope to update NW Georgia convention center
Convention and tourism officials in northwest Georgia are trying to figure out ways to upgrade the Northwest Georgia Trade and Convention Center in Dalton. Dalton Area Convention and Visitors Bureau Executive Director Brett Huske says the facility, built 21 years ago, is showing signs of its age.
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Chick-fil-A sales hit $4B
Chick-fil-A says its annual sales have exceeded $4 billion for the first in the company's 45-year history. The Atlanta-based chain had $4.1 billion in sales in 2011, up more than 13 percent over 2010, the privately owned company said Monday. Same-store sales also increased 7 percent in 2011 over the prior 12 months, the 44th consecutive time annual sales have grown compared to the prior year.
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Gas prices keep climbing
Brace yourself for more pain at the gas pump. Spring could easily bring $4 a gallon, analysts say. "Some areas will pay even more," said Jessica Brady, AAA spokeswoman. Average gas prices in metro Atlanta ticked up 1.7 cents in the past week to $3.51 a gallon.
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Alligator attack at issue in property rights suit
The Georgia Supreme Court on Monday will hear arguments in a closely watched property rights case involving an 83-year-old woman who was partially eaten by an alligator. Heirs of Gwyneth Williams, who died in 2007, filed a wrongful death lawsuit against The Landings, the exclusive golf and residential resort on Skidaway Island near Savannah.
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Officials hope to update NW Ga. convention center
Convention and tourism officials in northwest Georgia are trying to figure out ways to upgrade the Northwest Georgia Trade and Convention Center. Dalton Area Convention and Visitors Bureau Executive Director Brett Huske says the facility, built 21 years ago, is showing signs of its age.
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Note to subscribers
We experienced production problems overnight that will affect our delivery times this morning. Our carriers are currently out delivering their routes. If you have not yet received a paper, we sincerely apologize. Thank you for your patience as we work to deliver your AJC.
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Atlanta firms wary of ‘rogue states’
including some in Atlanta — have drawn the attention of an obscure government office that pushes them to detail their dealings in nations considered state sponsors of terrorism. It’s driven in part by the rise of “terror-free investing,” or avoiding investments in companies that have business activities in state sponsors of terrorism — currently designated by the State Department as Cuba, Iran, Sudan and Syria.
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Rental plan could help housing market
Throughout metro Atlanta, thousands of vacant homes now owned by the federal government sit languishing — dragging down home values and adding to a mass of housing woes that stunt the region’s economic recovery. Atlanta’s nearly 4,600 government-owned foreclosed properties is No.
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Bain Capital’s Atlanta forays
As Mitt Romney showed last week in Florida’s Republican primary, he was willing to get into a bare-knuckle political brawl, swamping rival Newt Gingrich with thousands of negative ads. The rough-and-tumble world of politics may not be all that different from the hard-nosed business world where the former Bain Capital executive learned to operate, an examination of some Georgia deals and buyout attempts shows.
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Dealer group sees higher US auto sales and prices
Car buyers will likely pay more for new and used cars this year as the economy improves. That's according to the National Automobile Dealers Association, which predicts the average price of a new car will rise 6 percent to $30,000. Used prices will jump as much as 8 percent for pickups and SUVs.
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Groups sue over Savannah River deepening project
Three conservation groups sued the U.S. Army Corps of Engineers on Friday, saying a South Carolina pollution permit is needed for a planned $600 million deepening of the Savannah River shipping channel because the work will dredge up toxic silt.
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Beverage companies dominate front of grocery stores with Super Bowl displays
Anyone looking for drinks to keep themselves or guests quenched during Super Bowl Sunday will be hard pressed to forget to pick up a case of Coca-Cola or bottles of Bud Light in local grocery stores. Elaborate brand displays -- think football goal posts made of Pepsi cans or a rushing player constructed of Dr Pepper boxes -- greet customers immediately when they walk into many stores.
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Hotel Midtown to become a Hyatt
Hotel Midtown, an unbranded lodger at Peachtree and 10th streets, is becoming a Hyatt. Noble Investment Group, which owns several properties in metro Atlanta, including the W Midtown, plans to spend $21 million redeveloping Hotel Midtown. The company said the 191-room hotel will open as a Hyatt early next year.
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Retractable roof not ruled out for Falcons stadium
The Atlanta Falcons' desired open-air stadium might wind up with a retractable roof if ongoing negotiations get bogged down. While both the Falcons and the Georgia World Congress Center Authority say the focus remains on trying to reach a deal that would put the team in an outdoor stadium and preserve the nearby Georgia Dome for indoor events, neither side shuts the door on the option of an indoor/outdoor, retractable-roof facility.
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Start saving, soccer moms: Lamborghini may build SUV
It would be the ultimate status symbol for soccer moms dropping their kids off at practice: a Lamborghini SUV. AutoWeek magazine reports that the Italian carmaker – best known for its ultra-high-end sports cars – will unveil a "teaser" for the SUV at the Beijing auto show in late April.
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Scam involves Muslim food
A federal grand jury has indicted a Lawrenceville couple for stealing $300,000 from the U.S. government in a scheme involving the foreign sale of foods designated "halal," or meeting the dietary guidelines of the Muslim faith, authorities said Thursday.
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Bill would broaden state incentives for job creation, high-paying jobs
A bill introduced this week in the state House would sweeten Georgia’s economic incentives and lower the threshold of eligibility for businesses in an effort to attract and add new jobs in the state. Gov. Nathan Deal has put job creation at the top of his agenda, and pieces of it are beginning to surface in legislation.
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Beazer Homes shows signs of improvement
Atlanta-based Beazer Homes, one of the nation’s largest builders, reported Thursday that it turned a profit in its first quarter, following losses in fiscal 2011. The homebuilder posted a $739,000 profit, or $0.01 per share, for the first three months of fiscal 2012, compared with a $48.
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Georgia manufacturing activity ticks up in January
Manufacturing activity in Georgia increased in January, but the latest uptick is far from a conclusive sign of better times to come, a new report suggests. The Georgia Purchasing Managers Index (PMI), a monthly snapshot that takes into account five variables including new orders, production, employment, supply deliveries and finished inventory, increased to 52.
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Developer wins $75M judgment
A Cobb County judge has awarded a $75.4 million judgment to Marietta real estate developer David Pearson in a breach-of-contract dispute with Delta Community Credit Union. Pearson filed suit in 2010, contending the credit union reneged on a commitment that would have allowed him to borrow up to $30 million to buy deeply discounted Florida Gulf Coast properties from financial institutions and owners eager to part with them.
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Facebook plans to go public
Facebook made a much-anticipated status update Wednesday: The Internet social network is going public in a stock offering that could value it at as much as $100 billion, eight years after its computer-hacking CEO Mark Zuckerberg started the service at Harvard University.
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Airline may cut 14K jobs
The parent of American Airlines wants to eliminate about 13,000 jobs — 15 percent of its workforce — as the nation's third-biggest airline remakes itself under bankruptcy protection. The company proposes to end its traditional pension plans, a move strongly opposed by the airline's unions and the U.
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Manufacturing expands at fastest pace since June
U.S. manufacturing activity grew in January at the fastest pace in seven months, boosted by a rise in new orders. And builders ended a poor year for construction by spending more on homes and projects for the fifth straight month. The reports bolster other data showing the U.
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Hartsfield-Jackson reports record 2011
Hartsfield-Jackson International Airport reported a record number of passengers in 2011, maintaining its position as the world's busiest airport. A total of 92.4 million passengers used the airport last year, 3.5 percent higher than 2010 levels. The growth included a nearly 8 percent increase in international passenger counts.
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City reaches deal with concessionaire for disclosure of documents
In an ongoing legal dispute over the a massive round of concessions contracts for Hartsfield-Jackson International Airport, the city of Atlanta reached a deal to disclose more documents to concessionaire SSP America. The agreement came after a hearing Tuesday in Fulton County Superior Court where SSP sought an injunction to stop the city from executing the concessions contracts, after previously being granted a temporary restraining order.
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Rural phone subsidy bill returns
Another attempt to cut the amount of taxpayer money the state's rural telephone companies can receive was filed Wednesday in the Georgia House. House Bill 855 would phase out a fund that as many as 17 of the state’s rural phone companies have dipped into to subsidize the cost of supplying phone service.
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Neil Young: Steve Jobs listened to vinyl
Legendary rocker Neil Young took his campaign for higher-fidelity digital sound to the stage of a technology conference Tuesday, saying a giant of the industry was on his side: the late Steve Jobs. Young said the Apple co-founder was such a fan of music that he didn't use his iPod and its digitally compressed files at home.
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Toyota to build Jackson plant
Toyota Industries Corp. plans to open a $350 million automotive parts plant in Jackson County in northeast Georgia, creating 320 jobs. The automotive compressor parts plant, to be built near a related assembly plant off I-85 in Pendergrass, about 60 miles northeast of Atlanta, is expected to be completed in late 2013.
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Hot start: Dow and S&P have best January since '97
It's the best start for stocks in 15 years. In what was mostly a slow and steady climb, the Dow Jones industrial average rose 3.4 percent in January and the Standard & Poor's 500 gained 4.4 percent, the best performances for both indexes to open a year since 1997.
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Georgia with a Twist: Leaders use photography to sell state tourism
State tourism officials are banking on colorful photography of destinations throughout Georgia to help them win over travelers looking for a place to vacation. The state has launched "The South with a Twist," a campaign that uses ads in magazines and on the Web to lure visitors instead of costly TV commercials that states like Texas and Florida use.
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ATL home prices hit 13-year low
Metro Atlanta home prices fell to the lowest point since 1998 as a mass of foreclosures and short sales continued to batter the market, new data released Tuesday showed. Home prices in Atlanta fell for the fourth straight month in November, with a 2.5 percent decline that followed a 5 percent drop in October, according to the widely watched Standard & Poor’s Case-Shiller Home Price Indices.
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UPS: U.S. economy improving
Shoppers were willing to spend this holiday season, particularly online, UPS executives said Tuesday. That shows the U.S. economy is getting better, even as the economies of Europe and the rest of the world continue to struggle. "What we're seeing is a good, stable improvement in the economy," UPS chief financial officer Kurt Kuehn said.
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EAA hosts discussion of Georgia's aviaition industry
Amy Hudnall, associate director of the Georgia Center of Innovation for Aerospace, will speak at 10:30 a.m. Saturday at the EAA Sport Aviation Center, 690 Airport Road, Lawrenceville. Hudnall will offer an overview of Georgia’s aerospace industry. A pancake breakfast will precede her speech at 8 a.
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Restaurant sales on upswing
Business is looking up for metro Atlanta restaurants. Same store sales were up 4.7 percent in the fourth quarter of 2011 over the same period in 2010, according to NetFinancials, an Atlanta company that offers tax and accounting services for restaurant companies.
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Aunt Jemima recall at Kroger
Kroger stores in metro Atlanta and other parts of Georgia and across the Southeast are recalling an assortment of Aunt Jemima pancake products because they may contain soy that might be harmful to some consumers, the grocery chain announced Monday. The frozen food packages, produced by Pinnacle Foods Group, have a recommended use date between Nov.
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Coke gets Noodles as Freestyle client
Coca-Cola has added another chain to its list of restaurants offering Freestyle machines. Leaders of Colorado-based Noodles & Company announced Monday that they are adding Freestyle fountain machines to all company-owned U.S. stores. Freestyle machines allow customers to mix and match more than 100 different beverages in one dispenser.
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Group sued for banning ‘zombies'
Several people who tried to go to a Tennessee Valley Authority board meeting in costumes including Santa Claus and a pirate are suing the utility, which banned such getups after people protesting a nuclear plant dressed up as zombies. In July, the protesters in Chattanooga dressed as zombies in an effort to convince TVA officials not to re-start construction of the Bellefonte Nuclear Plant in Alabama, where work had stopped in 1988.
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Southwest plane hits light pole at Denver airport
A Southwest plane toppled a light pole at Denver International Airport on Monday while taxiing to the gate. No one was injured on Flight 792, which had just arrived from Los Angeles. The passengers were bused to the concourse from the plane. An airport spokeswoman told KMGH-TV (http://bit.
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Team hired to advise on Atlanta Civic Center
A team of companies has been hired to draw up recommendations for how the Boisfeuillet Jones Atlanta Civic Center can be put to better use. The team is led by HR&A Advisors Inc., a real estate, economic development and energy efficiency consulting firm that has worked in New York, London, Cincinnati and Hong Kong.
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A financial look at Plant Vogtle nuclear projects
By embracing nuclear power, Southern Co. and some other U.S. utilities are hoping to incrementally move the nation away from foreign oil. Here are the nuclear highs and lows. COMPARING COSTS Higher construction costs When the two original nuclear units at Plant Vogtle were planned, the total cost estimate was $660 million.
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Novelis builds on its footprint
After you finish that can of beer or soda, if you toss it in the recycling bin, odds are good that it’ll end up as one bit of Atlanta-based Novelis’ campaign to turn itself into one of the world’s greenest — and most profitable — aluminum processors.
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Labor statistics tell who’ll get job done
Forget the quarterback ratings. And forget the prevent defense. If you want a hands-down, airtight, take-it-to-Las Vegas prediction for the winner of the Super Bowl, there’s one thing to look at — the Bureau of Labor Statistics. And while the BLS doesn’t gather much information about football, it does calculate the unemployment rate.
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‘We are a law enforcement agency’
Since he got out of law school, John Sours has been defending people and businesses in court and sometimes prosecuting civil suits. When he was sent to Vietnam in January 1971, Sours, as a young captain and military lawyer, expected to be assigned to defend courts-martial with the 101st Airborne Division.
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Patience pays off in free fuel giveaway
Free fuel was available for a limited time Saturday at the Exxon station at 507 Joseph E. Lowery Boulevard in southwest Atlanta. This, however, was not the kind of deal where you could gas up and go. The promotion, which was scheduled to end at 4 p.m., was sponsored by Tax City for those with W-2 forms -- and patience.
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Shoppers still wary of spending, Newell Rubbermaid CEO says
American shoppers still are hesitant to spend money on items they don't need, the president and CEO of consumer goods company Newell Rubbermaid said Friday. "The categories that are more discretionary, they're certainly more cautious," President and CEO Michael Polk said of shoppers.
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Former Georgia bank CEO consents to ban from industry
A former North Georgia bank CEO has consented to being barred from the industry for undisclosed allegations of wrongdoing, federal regulators reported Friday. Tracy Newton, former chief executive of the failed Appalachian Community Bank and its parent company, accepted the ban without admitting or denying the undisclosed allegations.
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Atlanta ranked 34th in tax friendliness for business
Lawmakers and others hoping to make Georgia more attractive to employers won’t be heartened by a new report that assesses the state’s business tax climate. Georgia ranked 34th among states in its “business-friendliness,” according to the Tax Foundation, a nonpartisan tax research group based in Washington.
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Airport concessions contracts signed
Atlanta officials on Wednesday executed the first airport concessions contract for the new international terminal at Hartsfield-Jackson International Airport. Duty Free Americas Peachtree LLC is now set to sell luxury retail products -- including beauty and grooming products, cosmetics, fragrances, tobacco and liquor -- in two locations on Concourse F.
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Metro region’s jobless rate rises
Metro Atlanta’s unemployment rate rose to 9.4 percent in December from 9.2 percent in November, the state Labor Department said Thursday. A year ago, the jobless rate for the region was 10.1 percent. Layoffs in construction, manufacturing, retail trade, administrative and support services, and accommodations and food services fueled the increase in unemployment from November, the Labor Department said.
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AT&T has record iPhone sales
Frustrated over having to drop its deal to buy T-Mobile USA and lose out on a quick fix to add more capacity, AT&T Chief Executive Randall Stephenson Thursday called on the Federal Communications Commission and Congress to let telecommunications companies add more wireless capacity as soon as possible.
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Dow nears highest level since '08
A brief morning rally Thursday pushed the Dow Jones industrial average above its highest close since the financial crisis of 2008, but disappointing economic data tempered traders' optimism later in the day, and stocks finished lower. Solid news on factory orders and strong earnings from U.
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Invesco profits climb in fourth quarter 2011
Atlanta-based investment manager Invesco Ltd. grew its profit for the fourth quarter of 2011 and for the full year. Invesco beat analysts’ expectations in reporting net income of $202.3 million, or 44 cents per share in fourth quarter 2011, up 15.5 percent, compared to fourth quarter 2010.
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Coke's polar bears to anchor the beverage giant's Super Bowl ads
Coca-Cola's polar bears will be the stars of the beverage giant's Super Bowl ads. In a return to the small screen, the bears will be in two spots during the Feb. 5 game and one after the contest ends. The spots will show the animated icons reacting to the game in varying ways, including a spot on ESPN showing the bear supporting the losing team howling with frustration before being handed a Coke to calm his nerves.
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United Community Banks turns slight fourth quarter profit
The third-largest bank based in Georgia turned a slight profit in the fourth quarter, noting some improvement in credit trends. Blairsville-based United Community Banks said its net income available to common shareholders was $6.9 million in fourth quarter 2011, or 12 cents per share, compared to a net loss of $175.
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Pepsi drinks cross billion dollar sales marks
The PepsiCo family has added three drinks to its billion dollar sales club. The beverage and food giant said Thursday that Diet Mountain Dew, Brisk tea and the Starbucks ready-to-drink beverages it distributes now have annual sales of more than $1 billion annually.
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Mitsubishi to break ground on headquarters Friday
Mitsubishi Electric and Electronics USA will break ground on a new headquarters in Gwinnett County Friday. The company will consolidate its local office and warehouse operations at a new facility on Satellite Boulevard in Suwanee. It will serve as headquarters for Mitsubishi’s heating and cooling division and will house a training facility, research and development operations and a distribution center.
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S.C. balks at dredging
As South Carolina lawmakers seek to undo a permit allowing Georgia to expand its Savannah port, state House members on Wednesday unanimously approved legislation that would temporarily suspend the state environmental agency's authority on dredging decisions.
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iPhone, iPad app rewards being a couch potato
Want to earn stuff by watching TV? A free app for that debuted Wednesday. When you tap the screen, Viggle's software for iPhones and iPads listens to what's on, recognizes what you're watching and gives you credit at roughly two points per minute.
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Stocks close higher on Fed promise of low rates
The stock market bounced to its highest close since last spring Wednesday after the Federal Reserve said it expected to keep interest rates near zero for almost three more years. Bond yields dropped sharply, then climbed back later in the day when investors began looking more closely into the Fed's deliberations.
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J.C. Penney gets rid of hundreds of sales
J.C. Penney is permanently marking down all of its merchandise by at least 40 percent so shoppers no longer have to wait for sales to get bargains. Penney said Wednesday that it is getting rid of the hundreds of sales it offers each year in favor of a simpler approach to pricing.
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Cobb EMC cuts ties to coal plant
A day after the Cobb EMC board decided to pull out of development of a new coal plant, the group pushing the project remained adamant it still will be built. “We’re disappointed in their decision and we respect their decision,” said Dean Alford, spokesman for Power4Georgians, a conglomerate of Georgia EMCs supporting the development of the $2 billion proposed Plant Washington coal plant near Sandersville.
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