Economy
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.
Scrushy Trial Update
Former HealthSouth CEO Richard Scrushy was back on the witness stand Thursday for a second day of testimony in a lawsuit over a long-running fraud at the company. WBHM's Andrew Yeager spoke with WBHM's Bradley George about Scrushy's testimony.
Brunos Fallout: the Glenwood Pecans
The poor economy has dealt a serious blow to some Alabama nonprofit organizations. One group that serves children with autism and severe emotional disabilities is feeling the pain even more, thanks to the bankruptcy of Brunos supermarket.
US Steel: Fairfield Fallout
German steel giant ThyssenKrupp announced Tuesday it may delay opening its massive steel plant under construction near Mobile. The $4.5 billion plant is currently scheduled to open for next spring. But ThyssenKrupp says its hemorrhaging money - more than one billion dollars this year - so the plant may have to wait. This comes after U.S. Steel announced it would indefinitely idle steelmaking operations at its plant in Fairfield, putting 1,700 jobs in limbo. WBHM's Andrew Yeager attended a town hall meeting Tuesday and spoke to a number of workers who are anxious and confused, but optimism as well.
Wilcox County Unemployment
When the economy turned sour, people started making comparisons to the Great Depression. But experts quickly noted it wasn't anything like the 1930's, when unemployment soared to 25%. But for one Alabama community, unemployment is that high. WBHM's Tanya Ott takes us to Wilcox County, where one in four people who want to work can't find a job.
RealtySouth Lawsuit
Alabama real estate professionals are scrambling this week, after a major court ruling against Birmingham-based RealtySouth. As WBHM's Tanya Ott reports, the lawsuit could affect 30,000 Alabamians and cost the company tens of millions of dollars.
Grocery Auction
Need another sign of the times? Head on down to Calera to the Cadle Auction House, where you might find more toilet paper and laundry soap than Waterford crystal and speed boats. WBHM's Tanya Ott reports.
The Economy & Nonprofits: A Conversation with Tim Delaney
Nonprofit organizations ranging from health care groups to after-school programs are hurting right now. Corporate and individual donations are down. Foundations are tightening their belts, and state and local governments are taking drastic cost cutting measures as well. All of this adds up to the very real possibility that thousands of nonprofit organizations may have to shut down.
Making Do: Vanishing Pages
So you're tired of all the grim economic news. You want to relax, sit on the couch and flip through a good magazine. Only trouble is that favorite magazine may not be there any more. Magazines across the country have folded in recent months, including titles in Birmingham. As we conclude our series "Making Do: Alabama's Economy," WBHM's Andrew Yeager takes a look at an industry not just reeling from the recession, but dealing with a change in the medium itself.
Making Do: The McCoys’ Housing Dilemma
The economy continues to weaken and Moody's credit rating company reports nearly 10 million homeowners are having trouble making their mortgage payments. People who track the housing industry say another wave of foreclosures is on its way. All the while, some homeowners are treading water, trying to stay afloat. WBHM's Tanya Ott has one Hoover family's story.
On The Line: Making Do
The economy continues to dominates news headlines. Ten million homeowners are having trouble making their mortgage payments. People who track the housing industry say another wave of foreclosures is on its way. Alabama's bankruptcy rate is among the highest in the country. Gas prices have stabilized, but high food prices continue to strain family budgets. Tonight at 6:30 on WBHM we discuss all this and more during On The Line: Making Do .
