TechnologyAdvice, LLC officials announced this week that the company would invest $2.7 million to expand its headquarters and other back-office functions in Nashville, Tennessee.
Read the full storyTag: economy
Tennessee Hills Distillery Announces $21.3 Million Investment in Sullivan County
Tennessee Hills Distillery officials announced Monday that the company will invest $21.3 million to expand in Northeast Tennessee by adding a Bristol location to serve as the company’s new headquarters. The company’s newest investment joins its existing operations in Jonesborough and Johnson City.
Read the full storySeparating from the Pack: TN-5 Candidate Jeff Beierlein Says He Is ‘A Viable Alternative to the Status Quo’
Thursday morning on The Tennessee Star Report, host Leahy welcomed TN-5 congressional candidate Jeff Beierlein in studio to discuss his background in leadership and managing people and what separates him from the rest of his opponents.
Read the full storyEconomist: 30 Percent Chance That U.S. Enters a Recession Within a Year’s Time
A Goldman Sachs economist says there is a 30% probability of the U.S. entering a recession within one year and 48% within two years.
Goldman Sachs Chief U.S. economist David Mericle outlined the probability of a recession at an event Tuesday and said that the likelihood of a recession would decrease if the U.S. had not entered one within two years.
Read the full storyTennessee Department of Finance and Administration Releases June Revenue Numbers
The Tennessee Department of Finance and Administration announced Friday that overall June state tax revenues exceeded budgeted estimates. On an accrual basis, June is the 11th month in the 2021-2022 fiscal year.
Read the full storyCommentary: After 18 Months of Biden, We Have Yet to Hit Bottom
Next week will mark one and a half years since Joe Biden became president on Jan. 20, 2021. On July 20, every American should look within and ask: “Am I better off than I was 18 months ago?”
To Biden’s credit, the unemployment rate has fallen from 6.4% when he took office to 3.6% in June. Today’s figure is a notch higher than the 3.5% joblessness that Americans enjoyed in February 2020, thanks to President Donald Trump’s Republican tax cuts, deregulation, energy dominance, and other pro-growth initiatives.
Read the full storyAll-Star Panelist Clint Brewer on the Dynamics of Inflation at Home and Abroad
Thursday morning on The Tennessee Star Report, host Leahy welcomed all-star panelist Clint Brewer in-studio to comment upon inflation in America and around the world.
Read the full storyFinancial Analyst Liz Peek Talks Lying Biden, Inflation, Economy, Recession, and Europe’s Shaky Ground
Thursday morning on The Tennessee Star Report, host Leahy welcomed Fox Business contributor and Wall Street expert Liz Peek on the newsmaker line to discuss the lies of President Biden, the lack of business skills in the White House, and the instability of Europe.
Read the full storyCity of Madisonville Achieves Tennessee Main Street Accreditation
The Tennessee Department of Economic and Community Development (TNECD) announced Wednesday that Madisonville has achieved Tennessee Main Street accreditation.
Read the full storyMichigan Gov. Whitmer Touts $77 Billion 2023 Budget, Despite No Tax Relief
Gov. Gretchen Whitmer is touting the $77 billion 2023 fiscal year budget that she says will improve Michigan’s economy and workforce.
Whitmer bragged that the budget negotiated with Republicans doesn’t raise taxes. However, it also keeps $7 billion of taxpayer money locked in state coffers while spending another $7 billion more than the prior budget.
Read the full storyBob Rolfe Officially Exits Department of Economic and Community Development with Farewell Message
Bob Rolfe officially exited the Tennessee Department of Economic and Community Development (TNECD) to enter the private sector Friday with a farewell message shared to social media. Rolfe has served as TNECD Commissioner since March 2017, when he was appointed by former Tennessee Governor Bill Haslam.
Read the full storyVK Integrated Systems Relocating Manufacturing Operations from California to Clarksville, Tennessee
VK Integrated Systems (VKIS) announced Friday that the company will invest $840,000 to relocate its manufacturing operations from Fullerton, California, to Clarksville, Tennessee by breaking ground on the new manufacturing site in Montgomery County.
Read the full storyCommentary: The Biden Bust Could be Coming to a Neighborhood Near You Soon
For many readers, the above title will conjure up memories of the 2008 housing crash caused by the proliferation of subprime mortgages and the subsequent tsunami of defaults. But a better corollary for the coming Biden bust is the Carter crash that occurred three decades earlier. During the final two years of Carter’s term, sales of existing and new homes collapsed because the Fed was forced to raise interest rates sharply to get double-digit inflation under control. This, in turn, produced double-digit mortgage rates that priced millions of potential buyers out of the market.
Read the full storyCommentary: States Can Help Conservatives Secure Even More Legal Victories
America is currently in the midst of a broader political realignment. The political Left, which once upon a time purported to stand for the forgotten “little guy” against the titans of Big Business, has in recent years decided that Big Business is actually an ally of convenience in its long Gramsci-an “march” through the institutions. Chris Rufo has perhaps demonstrated this trend better than anyone else.
And the political Right, whose once-instinctive neoliberal proclivities made it a convenient ally for Big Business, is currently rethinking its approach to political economy in general, as well as its specific relationship to culturally leftist multinational corporations. The most tangible recent expression of this rethinking has been Florida Republican Gov. Ron DeSantis’ crippling punishment of The Walt Disney Company for its coming out on behalf of sexually grooming innocent children in the Sunshine State.
Read the full storyGubernatorial Hopeful Jensen Calls for ‘Phasing Out’ Minnesota’s Income Tax to Help Fight Inflation, Boost Economy
Republican gubernatorial candidate Dr. Scott Jensen announced at a Thursday press conference his comprehensive plan to fight inflation.
Jensen’s “FIT” plan — “Fight Inflation Together” — comprises a variety of reforms and policies pertaining to taxes and spending. These include but are not limited to investigating wasteful government spending, vetoing tax increases and initiatives that increase the cost of living, eliminating social security taxes, and enacting deregulatory measures that allow businesses to obtain permits and licenses with less hassle.
Read the full storyOnly Two Tennessee Counties Saw Unemployment Rates Above Five Percent in May
New data released by the Tennessee Department of Labor and Workforce Development (TDLWD) on Thursday showed unemployment rates increased slightly during May in each of the state’s 95 counties. However, even with the minimal increases, 93 of Tennessee’s 95 counties maintained rates lower than 5% for the month.
Read the full storyCommentary: Vast Majority of Americans Disapprove Biden’s Handling of Economy
67 percent of Americans disapprove of President Joe Biden’s handling of the U.S. economy and 71 percent disapprove of his handling of inflation as gasoline prices continue hitting records at $5 a gallon, a recent Fox News poll taken mid-June found, even as Biden recently suggested a recession is not “inevitable”.
Read the full storyGov. Walz Offers Minnesotans $1,000 Checks to Spend Half of $9.2 Billion Surplus
Gov. Tim Walz suggested sending half of the state’s $9.2 billion surplus back to taxpayers in a 15-minute special session.
Walz last weekend proposed sending individuals $1,000, and married couples $2,000.
Only Walz can call a special session, but he hasn’t after a GOP and DFL broad deal for $4 billion in tax relief and $4 billion in savings disintegrated in May as the regular session concluded.
Read the full storyCrom’s Crommentary: No One in Biden Administration Offers Hope of ‘Doing Anything Right in Their Area of So-Called Expertise’
Monday morning on The Tennessee Star Report, host Leahy welcomed the original all-star panelist Crom Carmichael to the studio for another edition of Crom’s Crommentary.
Read the full storyTennessee Unemployment Rate Increases Slightly from Previous Month’s Historic Low
Preliminary data from the Department of Labor and Workforce Development (TDLWD) indicated Tennessee’s unemployment rate for May 2022 increased slightly from March and April’s record-breaking rate of 3.2%.
Read the full storyRockford Spring Company Announces New Manufacturing Operations in Lewisburg
Rockford Spring Company officials announced Thursday that the company will establish new manufacturing operations in Lewisburg. Founded in 1952, Rockford Spring Company manufactures custom precision springs and wire forms for the automotive, agriculture, firearms, hydraulics and outdoor power equipment, as well as many other industries.
Read the full storyTN-5 Congressional Candidate, Maury County Mayor Andy Ogles Tells Pelosi to Focus on America and the Real Issues the Country Is Facing
Friday morning on The Tennessee Star Report, host Leahy welcomed TN5 Congressional Candidate, Maury County Mayor Andy Ogles to the newsmaker line to weigh in on recent comments made to House Speaker Nancy Pelosi, focusing on the economy, and what he’s seeing on the campaign trail.
Read the full storyTennessee Representative David Kustoff Joins Republican Colleagues in Introducing Bill that Would Provide Immediate Relief to American Farmers
Tennessee Representative David Kustoff (R-TN-08) joined a group of his Republican colleagues Wednesday in introducing H.R. 8069, the Reducing Farm Input Costs and Barriers to Domestic Production Act.
Read the full storyState Tax Revenues in May Exceeded Budgeted Estimates, per Tennessee Department of Finance and Administration
The Tennessee Department of Finance and Administration announced Tuesday that overall May state tax revenues exceeded budgeted estimates. On an accrual basis, May is the tenth month in the 2021-2022 fiscal year.
Read the full storyCommentary: Recession Predictor 10-Year, 2-Year Treasuries Spread Inverts Once Again Amid Crushing Inflation
The spread between 10-year and 2-year treasuries, a reliable indicator of incoming recessions that has predicted almost every recession in modern economic history, inverted once again overnight Monday amid financial markets turmoil with interest rates rising rapidly, the dollar strengthening and equities markets crashing.
That is almost certainly terrible news for President Joe Biden and Congressional Democrats ahead of the 2022 Congressional midterms. The White House has attempted to highlight relatively low unemployment numbers as signs of a healthy economy, with President Biden on June 3 declaring the latest jobs numbers as “good news.”
Read the full storyTennessee Representative David Kustoff Selected to Serve on Ways and Means Committee
Tennessee Representative David Kustoff (R-TN-08) announced Saturday that he was selected to serve on the Ways and Means Committee.
“I am honored to be on this committee, & I look forward to advancing policies that will get our nation’s economy back on track,” Representative Kustoff wrote on Twitter.
Read the full storyAdvanced Call Center Technologies Expected to Create 650 New Jobs with Expansion in Sullivan County
Advanced Call Center Technologies (ACT) announced Monday it will establish new operations in Bristol and Kingsport, creating 650 new jobs in Sullivan County. ACT’s expansion in the region will create 350 new jobs at its Kingsport facility and 300 jobs in Bristol, according to a press release by the Tennessee Department of Economic and Community Development (TNECD).
Read the full storyAs Food Prices Soar with No End in Sight, Americans Change Habits
Americans are changing their shopping habits because of soaring food prices. And disruptions in the international farming community have some worried about the food supply heading into 2023.
The BMO Real Financial Progress Index, a quarterly survey from BMO and Ipsos, shows that 42% of surveyed adults “are changing how they shop for groceries,” including “opting for cheaper items, avoiding brand names and buying only the essentials.”
The report found “46% are either dining out less or consciously spending less when dining out.”
Read the full story‘A Source of Concern’: Jobs Growth Stalls, Unemployment Rises in May
The U.S. economy added 390,000 jobs in May while the unemployment rate was largely unchanged at 3.6%, according to Department of Labor data released Friday.
The number of unemployed people ticked up slightly to about 6 million, according to the Bureau of Labor Statistics (BLS) report. Economists projected 328,000 Americans would be added to payrolls prior to Friday’s report, The Wall Street Journal reported.
Read the full storyVanderbilt Poll Shows Massive Drop in Support for Biden
A Vanderbilt University poll of 1000 registered voters in Tennessee shows that support for President Joe Biden has dropped among Democrats, Independents and Republicans.
Compared to the spring of 2021, Biden’s approval rating among Democrat voters has dropped from 92 percent to 79 percent, a full 14 point fall. Among Independent voters, the decline is even steeper, dropping from 46 percent to only 27 percent, or 19 points. Republican support for the President in the state dropped from five percent to two percent.
Read the full storyRep. John Rose Commentary: Inflation Is the Invisible Tax
Inflation is an invisible tax that Tennesseans have to pay each and every day. Everywhere you look, inflation is wreaking havoc. At the gas station: gas is up 48 percent. At the grocery store: beef is up 20 percent, chicken is up 15 percent, butter is up 14 percent, fruits and vegetables are up 7 percent, and coffee is up 12 percent. At home: electricity is up 11 percent, furniture is up 15 percent, and rent is up 5 percent. What about a vacation? You still won’t be able to escape inflation as hotels are up 29 percent and flights are up 23 percent.
Read the full storyTennessee Unemployment Rate Holds Steady at Historic Low, New Data Shows
New data released by the Tennessee Department of Labor and Workforce Development (TDLWD) revealed unemployment across the state remained at a historic low in April. The record-low rate of 3.2%, set in March, held steady into April, according to the department.
Read the full storyMajority of Americans Say They Are ‘Falling Behind’ Rising Cost of Living
The majority of Americans feel they cannot keep up with the cost of living as inflation and the price of goods continue to rise, according to new polling data.
A poll from NBC News asked Americans, “Do you think that your family’s income is … going up faster than the cost of living, staying about even with the cost of living, or falling behind the cost of living?”
Read the full storySmall Businesses Struggle to Survive in Biden’s Economy: Poll
Small business owners are increasingly pessimistic about U.S. economic conditions and overwhelmingly support an expansion of domestic fossil fuel infrastructure, the latest polling data showed.
Just 27% of small business owners agreed the economy was in “good” or “excellent” condition, according to a Job Creators Network Foundation poll released Friday and shared with The Daily Caller News Foundation. The figure represented the lowest rating of the current economic situation among small business owners since the group began the poll a year ago.
Read the full story‘Signs of Slowing’: Unemployment Remains Unchanged as Economists Predict Dim Future
The U.S. economy added 428,000 jobs in April while the unemployment rate was unchanged at 3.6%, according to Department of Labor data released Friday.
The number of unemployed people remained even at about 5.9 million, according to the Bureau of Labor Statistics (BLS) report. Economists projected 400,000 Americans would be added to payrolls prior to Friday’s report, The Wall Street Journal reported.
Read the full storyColumbiad Fabrication and Aviation, LLC Announces Expansion into Henry County
Columbiad Fabrication and Aviation, LLC officials announced this week that the company will invest $4.8 million to expand its manufacturing operations in Henry County, creating 144 new jobs over the next five years.
Read the full storyShrinking GDP Could Hurt Georgia Economy as Recession Fears Rise
A shrinking gross domestic product could cost Georgia taxpayers and is likely to hurt middle-class Georgians in particular as the country appears headed toward a recession, a non-profit policy group said this week.
“The tab is coming due for all the reckless stimulus spending during the COVID-19 pandemic,” Erik Randolph, director of research for the Georgia Center for Opportunity, said in a statement. “The declining GDP in the first quarter is the strongest indicator yet that our nation is headed into a recession.”
Read the full storyNashville Record Pressing, LLC to Create More than 250 Jobs in Davidson County
Nashville Record Pressing, LLC officials recently announced that the company will establish operations in Nashville, which will include its headquarters, manufacturing, distribution and back-office functions.
Read the full storyInflation Hits 10.9 Percent in Metro Phoenix, Highest of Major Metro Areas and Substantially Above National Average
Inflation is soaring under the Biden administration, and it’s even worse in Phoenix. The Bureau of Labor Statistics reported that inflation in metro Phoenix jumped 10.9% from February 2021 through February 2022, significantly more than the national average increase of 8.5% and higher than any other major metro area. This is one of the highest levels reported for Phoenix, the Common Sense Institute found.
The 8.5% inflation rate is the highest in the U.S. in 41 years. In 2020, the last year of Donald Trump’s presidency, it was only 1.5%. It began spiking as soon as Joe Biden entered office. The main goods driving the spike nationally are food, gas, and housing.
Read the full storyCommentary: The Green U.S. Supply-Chain Rules Set to Unspool and Rattle the Global Economy
Making a box of Cocoa Puffs is a complicated global affair. It could start with cocoa farms in Africa, corn fields in the U.S. or sugar plantations in Latin America. Then thousands of processors, transporters, packagers, distributors, office workers and retailers join the supply chain before a kid in Minnesota, where General Mills is based, pours the cereal into a bowl.
Now imagine the challenge that General Mills faces in counting the greenhouse gas emissions from all of these people, machines, vehicles, buildings and other products involved in this Cocoa Puff supply chain – then multiply that by the 100-plus brands belonging to the food giant.
Thousands of public companies may soon have such a daunting task to comply with a new set of climate rules proposed by the Securities and Exchange Commission.
Read the full storyMeasure to Allow Gambling in Georgia Advances
Georgia voters soon could decide whether to allow sports wagering and casino gambling.
The House Economic Development and Tourism Committee signed off this week on versions of Senate Resolution 135 and Senate Bill 142. If approved, voters could decide on the measures as soon as November.
Legalizing sports wagering and casino gambling in The Peach State has been an on-again-off-again proposition for years. The passage of the most-recent legislation could face long odds as the state Legislature is in its final days.
Read the full storyFebruary Unemployment Rate Drops in Every Tennessee County Following National Trend
Unemployment rates dropped in every Tennessee county in February, according to new data released by the Tennessee Department of Labor and Workforce Development (TDLWD). The department made the announcement in a press release Thursday.
Read the full storyKevin Nicholson: Lawmakers Should View Service Like National Guard
One Republican candidate for governor in Wisconsin wants to pay lawmakers less in order to get them to think more about service.
Republican Kevin Nicholson wants to classify the State Assembly and State Senate as part-time jobs, and cut their $55,141 yearly salaries.
“My feeling is that pay and benefits should be paid out in accordance with work performance,” Nicholson told The Center Square. “Moving to a part-time legislature, a citizen legislature, will allow more people to serve their state and their communities.”
Read the full storyEconomy Added Fewer Jobs Than Expected in March
The Bureau of Labor Statistics on Friday said the U.S. economy added 431,000 nonfarm jobs in March.
That figure came in below the projected number of 490,000 jobs.
Read the full storyCommentary: A Biden Recession Is Virtually Guaranteed After 10-Year, 2-Year Treasuries Spread Inverts as Economy Overheats from Rampant Inflation
The spread between 10-year treasuries and 2-year treasuries, a leading recession indicator whose inversions have predicted almost all of the U.S. economic recessions in modern history, on March 31 inverted for the first time since Sept. 2019.
When the 10-year, 2-year spread inverts, a recession tends to result on average 14 months afterward, sometimes sooner, sometimes later. The one time there was a head fake on the 10-year, 2-year was in the mid-1990s at a time when inflation was much lower Visit Site than it is now.
As an aside, potentially the Sept. 2019 inversion might have ended up being a premature indicator, too, but then Covid and global economic lockdowns in early 2020 went ahead and ensured a recession even if one was not due. On the other hand, at that point it had been 11 years since the prior recession and so the business cycle was going to end sooner or later.
Read the full storyBiden’s Job Approval Plummets to New Low
President Joe Biden’s job approval rating plummeted to a new low as concerns grew over the war in Ukraine and surging inflation, according to an NBC News poll released Sunday.
Only 40% of Americans surveyed approved of the job Biden has done through his first two years, marking the lowest rating since he took office, according to the poll. Just 16% of registered voters strongly approved of Biden’s job, and 71% of those surveyed said the country is “off on the wrong track.”
Read the full storyPhoenix Nets Most Inbound Movers, Study Finds
People are moving to Arizona in droves, especially the Phoenix area.
Last year, the Phoenix metro area took the top spot nationwide in terms of the number of people moving to the city compared to the rate at which people were leaving the city, according to a study conducted by Allied.
Meanwhile, Arizona as a whole was a popular state for people to move to, even outside of the Phoenix metro area; it ranked fifth among inbound states in the country last year. States that ranked ahead of Arizona on the list included: South Carolina, Tennessee, North Carolina, and Florida. Meanwhile, Arizona ranked ahead of Texas on the list.
Read the full storyCommentary: Blame Putin, Yes, But Also Blame Biden
As Ukraine coverage blankets the news nonstop, I keep asking myself: are we really so gullible as to be hoodwinked by an administration and political class covering for their massive failures at home and abroad by mustering up a frenzy of dangerously jingoistic militarism? Not only have they escalated the situation and brought us to the brink of World War III but they have also imposed—and will continue to impose—senseless costs on an American economy already grinding to a halt.
I am not suggesting that any of Joe Biden’s major missteps, whether now or in the past, in any way excuse Russian President Vladimir Putin’s Ukraine invasion, which is in violation of international law and being conducted with reckless indifference to—indeed, the direct intent to inflict—civilian casualties. Although there is no question (details below) that Biden majorly provoked Putin, nothing Biden did stripped Putin of his agency in doing what he is now doing, much less did it demand he do it in the manner in which he is doing it.
Read the full storyCommentary: All of Joe Biden’s Multitude of Failures Were Foreseeable in 2020
Every single one of senile president Joe Biden’s struggles was easily foreseeable.
It’s a bold statement, since many if not most of the issues that confront a new president can’t always be seen from a distance. If it can be said that elections are always about the future, it’s just as true to claim that the future would almost certainly be shaped by yet unseen events and circumstances that no politician could forthrightly discuss in the lead-up to his victory.
Read the full storyShrinking Food Supplies, Soaring Prices Could Trigger Global Unrest, Key GOP Lawmaker Warns
With U.S. and world food prices set to soar due to inflation and supply shortages stemming from the Russian invasion of Ukraine, a key GOP lawmaker is asking the Pentagon to study the potential for conflict if the global food supply shrinks by 5%.
U.S. farmers will pay $300-$400 more per acre to grow crops this year due to inflation and costs associated with the war in Europe, Georgia Republican Rep. Austin Scott warned Monday on the Just the News TV show.
Shipping is another issue, as trade is throttled by war-related disruptions and tough economic sanctions against Russia.
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