Economy
New Leadership at the BBA
Birmingham's regional economic development organization is under new leadership. The Birmingham Business Alliance hired Brian Hilson last month as its President and CEO. He comes from the Huntsville/Madison County Chamber of Commerce. He previously worked at the Birmingham Metropolitan Development Board. WBHM's Andrew Yeager spoke to Hilson.
Alabama and the Oil Spill: Marketing Seafood
It's been almost a year since millions of barrels of oil spilled into the Gulf of Mexico. If you're still a little leery about eating seafood from the gulf, you're not alone. One study found about 70% of consumers nationwide are concerned about seafood safety. Almost a quarter have reduced how much they eat. Alabama's seafood industry says the catch has been tested and is safe. But as WBHM's Andrew Yeager reports getting that message out isn't easy.
Impact Alabama’s Savings Contest
If you've ever bought a lottery ticket or played a slot machine, you probably know the thrill that comes with a chance to win a fortune. Of course, if you don't make the long odds, you're out some cash. But what if that same excitement could be turned into savings? One Alabama organization is using the current income tax season as a savings contest for low income residents. But as WBHM's Andrew Yeager reports it's an untested idea.
Stuff: One Man’s Stuff
All this week we've been looking at stuff by examining some of the things we keep and the stories contained in them. Of course many of us have no shortage of possessions. We store things in basements or attics. Even rent storage units because we've run out of room. But what if all you had was what you could carry around yourself? What would you keep? WBHM's Andrew Yeager continues our series "Stuff" with a look at the things one Birmingham homeless man hangs onto.
Stuff: Alabama’s Unclaimed Property
This week on WBHM, we're talking about stuff--how to manage it and what people do with it. One place to put valuable stuff is behind the steel doors of a bank vault, in a safe deposit box. But sometimes, people forget about those boxes, or they die before getting the valuables out of the bank. In Alabama, those items end up in the State Treasury's Unclaimed Property Division.
Stuff: Where Stuff Goes to Die
Think about all the stuff you have. Probably functional things like a car or cell phone. Also clothing, chairs or a kitchen table. There are sentimental items too, maybe a childhood toy or old pictures. For most of us, we have plenty of stuff. Those items contain stories and act as a mirror of sorts for our lives. And we'll explore some of that this week in our series "Stuff." We start with the end. WBHM's Andrew Yeager takes a look at where some of our stuff ends up when we're done with it.
Alabama and the Oil Spill: Gulf Real Estate Market
A survey of residents along Alabama's Gulf coast finds that, after the BP oil spill, many of them want to pick up and leave the area. But whether they can actually do that depends, in part, on the real estate market. And it's not good news.
Defense Spending Boosts Huntsville’s Economy
Many state and local governments are struggling to cut services as they try to head off billion dollar deficits. But new research suggests there may be truth in one old political standby.
Alabama and the Oil Spill: Bayou la Batre
It's hard to put a number on the economic losses the Gulf region has experienced since the B-P oil spill. But it's clear that communities along the coast are hurting. The tiny Alabama fishing town of Bayou la Batre was still recovering from hurricanes Katrina and Ivan when the oil spill sent it into another tailspin. For many residents there just isn't enough money for basics, even food.
Magic City Marketplace
The Birmingham marketplace is connected by people who have to grapple with numbers and projections and spin. We try and slice through the psychobabble that can be business news with our occasional segment featuring the editor of the Birmingham Business Journal.
Southwest, AirTran and Birmingham
AAA predicts more than 42 million Americans will hit the roads and take to the air this Thanksgiving, traditionally the busiest travel period of the year. At the Birmingham-Shuttlesworth International Airport, many of those holiday travelers will fly the airport's biggest carrier - Southwest Airlines. Southwest announced this fall it would buy rival AirTran for $1.4 billion dollars. But as WBHM's Andrew Yeager reports the deal may not be the best news for Birmingham.
Railroad Park Opens
New York has Central Park. There's Grant Park in Chicago. Atlanta has Centennial Olympic Park as well. They're parks sitting right in the middle of an urban landscape. And on Saturday Birmingham will have Railroad Park. The idea of a downtown park in Birmingham goes back decades. It took more than 10 years to build Railroad Park, which lays along the railroad tracks between UAB and downtown Birmingham. As officials open it tomorrow, they're hoping Birmingham's new "backyard" will bring not just people, but business too. WBHM's Andrew Yeager reports.
The Price of Poverty
What are the essentials of life? Food, water, and shelter. And to get those you have to have some kind of paying work or be enrolled in a government assistance program. But for the working poor (many of whom don't qualify for government assistance) even the basics can be too expensive. We'll explore this today (8/27) at noon on WBHM's On The Line: The Price of Poverty.
Price of Poverty: Time Banks
In times of economic instability many people turn to friends and family. But there's a new twist on that practice and it's called Time Banking. Members of time banks earn and spend "time" dollars by using their skills for other members.
Price of Poverty: Buy-a-Meter
When you brushed your teeth this morning or took a shower, did water come out of the faucet? You probably didn't give it a second thought. For some though, even here in Alabama, water is far from a guarantee. As we continue our series The Price of Poverty, WBHM's Andrew Yeager takes us to Hale County in the black belt, a place where seeing to it that everybody has clean, reliable water has been a bit like swimming upstream.
Increasing Exports
Last year, Alabama companies exported more than 12 billion dollars of goods and services to other countries. While that number might sound impressive, it's actually a 20 percent DECREASE from 2008.
Price of Poverty: Food Deserts
What are the essentials of life? Food, water, and shelter. And to get those you have to have some kind of paying work or be enrolled in a government assistance program. But for the working poor even the basics can be too expensive. They often cost more for working poor than for middle class people, as we'll explore this week in our series "The Price of Poverty". We start today with a report on food.
Hotel Tax Dispute
More travelers will hit the roads this holiday weekend. AAA expects fourth of July travel across the south to rise about 11% over last year. Many of those tourists will book hotel rooms. And that means hotel lodging taxes for local cities. But Birmingham doesn't think it's getting all it's due from online travel sites. So it's suing. WBHM's Andrew Yeager reports.
Alabama and the Oil Spill: One Family’s Story
The explosion of the Deepwater Horizon oil rig in the Gulf of Mexico is wreaking widespread environmental havoc. But there's a very personal chaos playing out in thousands of homes up and down the coastline. The oil spill has put many people out of work, and as WBHM's Tanya Ott reports many families are being forced to rethink their financial lives.
Alabama and the Oil Spill: Tourism Takes a Hit
Federal officials continue to monitor the oil spill in the Gulf of Mexico. The latest projections indicate that, at least for, now the oil seems to be moving away from the Alabama coast. But people who make their living off tourism in the Gulf Shores and Orange Beach areas say it might not matter if oil never hits the state. A lot of damage has already been done. WBHM's Tanya Ott reports.
Dr. Craig Witherspoon
Today is the first day on the job for Craig Witherspoon. He's the new superintendent of the Birmingham City Schools. Witherspoon takes the helm of a school corporation plagued with poor academic performance and declining enrollment. On top of that, the schools face significant budget cuts. Witherspoon tells WBHM's Andrew Yeager he'll address those issues first by listening and learning.
Magic City Marketplace
The Birmingham marketplace is connected by people who have to grapple with numbers and projections and spin. We try and slice through the psychobabble that can be business news with our occasional segment featuring the editor of the Birmingham Business Journal.
Mercedes Moves C-Class
Automakers across the globe are looking for ways to save money. Mercedes Benz thinks it's found a way. It will move some production of its popular C-class sedan from Germany to Vance, Alabama.
Birmingham’s Airport To Expand
Look closely at Birmingham's city seal, and you'll see an airplane, along with Vulcan and the downtown skyline. Birmingham-Shuttlesworth International Airport has been a part of the Magic City for nearly eight decades, but airport leaders say it's time to grow.
Silly Bandz
If you're the parent of an elementary school student around Birmingham, chances are you've seen silly bandz. Some call them animal bracelets. They're colored rubber bands which look pretty normal on your arm. But take them off and they snap into the shape of a creature or object. If you're not the parent of such a child, you may not realize the craze they've become. WBHM's Andrew Yeager takes a look at those riding out the fad.
JP Morgan Settles with Jefferson County
JP Morgan is paying more than 700 million dollars to settle charges by the Securities and Exchange Commission it made unlawful payments to friends of Jefferson County commissioners in order to win municipal bond business.
Wadley Waits
It's hard to find a one company town any more. But in rural east Alabama, there is a town where three-quarters of residents work at the same manufacturing plant. Or at least they did, until the plant closed down. WBHM's Tanya Ott reports.
Businesses’ Take on the Birmingham Business Alliance
Local business owners are closely watching what direction economic development takes since the formation of the Birmingham Business Alliance. The merger between the Birmingham Regional Chamber of Commerce and the Metropolitan Development Board took place a few weeks ago. The Alliance covers a large swath of central Alabama, including Jefferson, Shelby and five neighboring counties. The union sounds great on paper, but what does it really mean for local businesses? WBHM's Varun Krishnan reports.
Birmingham Business Alliance
Birmingham business and political leaders are hoping a new economic development organization will kick start growth in the region. The Birmingham Business Alliance made its public debut Tuesday. The organization is a merger of the Birmingham Chamber of Commerce and the Metropolitan Development Board and aims to foster economic development in the seven county, metro-Birmingham area. WBHM's Andrew Yeager spoke with Dalton Smith, President and CEO of the Birmingham Business Alliance. Smith says this new group will help focus economic development efforts.
Scrushy Ordered to Pay $2.9 Billion
A judge has ordered former HealthSouth C.E.O. Richard Scrushy to pay almost $2.9 billion for his role in the massive account fraud which nearly sunk the company. Shareholders sued Scrushy in civil court alleging he faked profits which triggered bonuses for him. Scrushy testified he knew nothing of the fraud and other executives in the company were responsible. Plaintiff lawyer John Haley led the legal team seeking damages from Scrushy. He spoke with WBHM's Bradley George.
What Does Six Flags Bankruptcy Mean for Alabama Adventure?
Six Flags, the largest regional theme park operator in the world, filed for chapter eleven bankruptcy protection over the weekend. With a tough economy and competition from other family friendly entertainment options, the theme park industry is having to find creative ways to attract business.
New Economic Incentive Law
This week, Governor Bob Riley signed legislation that makes more types of businesses eligible for state financial help if they locate here. In the past, Alabama's economic incentive laws only covered manufacturing jobs. The new bill expands that to corporate headquarters, research and development centers, and alternative energy companies.
