Economy

Cindy Crawford: Magic City Marketplace

Birmingham has seen its list of Fortune 500 companies shrink over the last decade. Now the city's list of public companies is shrinking too. A Memphis firm is merging with Birmingham-based Colonial Properties effectively moving that company’s operation to Tennessee. We talk about what that means in this week's Magic City Marketplace.

Cindy Crawford: Magic City Marketplace

The Regions Bank of today is a far better place than the Regions Bank of just a few years ago. In 2010 the company was still swimming in bad loans, it had $3.5 billion in federal bailout funds and it faced takeover speculation. The man who led that turnaround is CEO Grayson Hall. We talk about him in this week's Magic City Marketplace.

Cindy Crawford: Magic City Marketplace

After years of back-and-forth Trinity Medical Center now has the go-ahead to move from Birmingham's east side to an unfinished hospital along Highway 280 in a building that used to be owned by HealthSouth. That's because the Alabama Supreme Court refused to hear an appeal from competing hospitals earlier this month. We talk about what's next in this week's Magic City Marketplace.

Cindy Crawford: Magic City Marketplace

The last couple of years have been rough for the Riverchase Galleria in Hoover. Vacancies were up. One of the mall’s owners went into bankruptcy. But now officials at Alabama’s largest indoor shopping center say things are looking up. We hear why in today’s Magic City Marketplace.

Poverty on the Rise in Suburbia

Many people think of poverty as an urban issue, but a new analysis finds poor families are increasingly living in suburbs. In fact, in the last decade, poverty rose more than twice as fast in suburban communities as it did in urban centers. It’s a trend in Birmingham as well, although the metro area is not at the leading edge of the shift.

Cindy Crawford: Magic City Marketplace

As the housing market tries to recover from the recession, one obstacle has been access to credit for first time home buyers. Not surprisingly, lenders are skittish and are denying home purchase applications at a bit higher rate around Birmingham compared to the pre-recession boom. But the denial rate varies widely depending on exactly where you live. We hear more in this week's Magic City Marketplace.

Cindy Crawford: Magic City Marketplace

Blue Cross and Blue Shield of Alabama may be the state's largest private health insurer, but that doesn't mean the company is exempt from financial issues. The insurer's profit dropped by more than half in 2012. We talk about why in this week's Magic City Marketplace.

Cindy Crawford: Magic City Marketplace

With college tuition costs rising and stubbornly high unemployment educators and the business community are increasingly looking to technical training in high school. Such career education is designed to give students a leg-up in the job market. It's also supposed help keep them in school. We hear details in today's Magic City Marketplace.

Cindy Crawford: Magic City Marketplace

You might not be aware of it, but there’s been a boardroom battle recently over one of Birmingham’s largest public companies. Walter Energy has been dealing with an upstart investor attempting a board coup. This investor also wants to sell the company. But now Walter Energy is fighting back. We hear about that in this week’s Magic City Marketplace.

Cindy Crawford: Magic City Marketplace

Maybe you're a recent college graduate looking for a job. Or perhaps you were let go. Or just looking for a career reset. In any case it might be helpful to know which sectors are poised for the most job growth. The Birmingham Business Journal crunched the numbers and we have the results in this week's Magic City Marketplace.

Cindy Crawford: Magic City Marketplace

It's generally understood that a crash in the housing market help usher in the great recession. But now five years later, home lending around Birmingham still hasn't returned to pre-recession levels. We hear more in this week's Magic City Marketplace.

Cindy Crawford: Magic City Marketplace

Alabama is considered one of the least competitive health insurance markets in the country. And while a number of provisions from the Affordable Care Act kick in next year, most observers don’t feel that’ll make much difference. We hear why in this week's Magic City Marketplace.

Cindy Crawford: Magic City Marketplace

As Congress and President Obama argue over sequestration, the across the board spending cuts scheduled to kick in March first, many business are concerned about their bottom lines should those cuts happen. One Birmingham area company that would be affected is HealthSouth. We talk more about that in this week's Magic City Marketplace.

Cindy Crawford: Magic City Marketplace

One of the keys to turning up the economy is businesses being able to borrow money to grow. Alabama’s largest financial institution is launching a new program targeting companies looking to expand. We have details in this week’s Magic City Marketplace.

Cindy Crawford: Magic City Marketplace

The new Westin hotel opens this week in downtown Birmingham. It’s the anchor of an entertainment district at the BJCC set to open this fall. And according to one official there, the new venture is reviving talk of that ever elusive domed stadium. We discuss it in this morning’s Magic City Marketplace.

Cindy Crawford: Magic City Marketplace

With the new Birmingham Baron’s baseball stadium going in, many expected this year would bring a boost to Birmingham’s city center. And along with Railroad Park and more people living downtown, real estate investors are biting. We hear about it in this morning’s Magic City Marketplace.

Top 10 Places to Live in Alabama

What do you like about where you live? Maybe it’s your neighbors or the schools. A favorite restaurant or shop. Birmingham News columnist John Archibald has been crunching the numbers and his list of Top Ten Places to Live in Alabama.

Cindy Crawford: Magic City Marketplace

When a company announces it’s coming to Alabama or a business plans a major expansion, there are often incentives involved. Economic development officials say they’re essential to attract companies to Alabama. But one state lawmaker wants to cap how much is spend on these incentives. We talk about that in this week's Magic City Marketplace.

Cindy Crawford: Magic City Marketplace

Birmingham’s 14 public companies saw their stock prices collectively rise only slightly last year. However it seems to be not so much a case of hard times for everybody as much as really hard times for just a few. We have details in this week's Magic City Marketplace.

Cindy Crawford: Magic City Marketplace

The new Birmingham Barons' ball park has been expected to spur new development around it. With Regions Field still three months away from opening, the list of planned projects is growing quickly. We hear the latest additions to the list in this week's Magic City Marketplace.

Cindy Crawford: Magic City Marketplace

The last several years have brought uncertainty and frustration as the economy continues to crawl out of the great recession. So with 2013 now underway, it’s a chance to look ahead at what this year may bring for businesses around Alabama. We have that forecast in this week's Magic City Marketplace.

The Fiscal Cliff Deal And Your Taxes

Wondering how the new fiscal cliff deal will hit your family budget? Here's a breakdown of tax increases by salary.

Are Resumes Worthless?

If your New Year's Resolutions include getting a job or finding a better one, Dale Callahan says throw out everything you know about job searching. He’s a UAB professor and author of the book Resumes are Worthless: How to Find the Work You Love and Succeed.

Cindy Crawford: Magic City Marketplace

Regions Bank had a pretty positive 2012, but it seems the Birmingham-based company will spend some of the next year dealing with a federal probe. At issue is an allegation the bank improperly classified bad loans during the financial crisis. We hear details in today's Magic City Marketplace.

Cindy Crawford: Magic City Marketplace

Political leaders in Washington continue the hash through a plan to avoid the so-called fiscal cliff, which is a package of tax increases and spending cuts set to take effect at the end of the year. Among those nervously watching the debate are researchers in Birmingham. We talk about why in this week's Magic City Marketplace.

Alabama Unemployment Rate Goes Down

Alabama's unemployment rate dropped to 7.5% in November, below the national average of 7.7%. Officials say hiring in two sectors increased.

Instagram’s New User Agreement: Social Media Suicide?

100 million people use the photo website Instragram to share snapshots of everything from their dinner to their cats and their children. But Instagram unveiled a new user agreement this week that has many critics crying foul. Find out why....

Cindy Crawford: Magic City Marketplace

Birmingham's Woodlawn neighborhood has been slowly rebounding in recent years and now a multi-million dollar residential community is planned for the area. If the development is successful, it could help stabilize a once vibrant neighborhood. We have more in today's Magic City Marketplace.

Cindy Crawford: Magic City Marketplace

Trinity Medical Center’s move from Birmingham’s eastside to the U.S. 280 corridor seems more likely after Trinity won a legal victory last month. And if Trinity’s project does go forward much more development is expected than just a hospital. We talk about it in this week’s Magic City Marketplace.

Alabama, Auburn Among Wealthiest Athletics Programs

Alabama is Number 4 and Auburn is Number 9 nationally in survey of athletic department revenues. The Southeastern Conference dominates.

Cindy Crawford: Magic City Marketplace

While residents, businesses and lawyers along the Gulf Coast are still working through the legal fallout from the 2010 BP oil spill, many Birmingham businesses could qualify too for settlement dollars. We hear how in today's Magic City Marketplace.

Cindy Crawford: Magic City Marketplace

Birmingham weathered the recession better than many other governments due in part to a decision to double business license fees and increase sales tax one percent. Years later, little of that money has been spent as originally intended. We hear more from the Birmingham Business Journal's Cindy Crawford.