Tag Archives: CNBC

Tenn. a top destination state for jobs

FedEx, Volkswagen and Nissan have helped make Tennessee one of the top destination states for jobs, CNBC reports.

012010vwdealers036.jpgTennessee ranks No. 7 with 141,845 people moving here for work during 2009-2010.

“Tennessee was one of only 15 states whose unemployment rate went down in 2009-2010. Of the 141,845 people who came into the state that year, many came from Florida, Georgia and Mississippi, all of whose unemployment rates had increased,” CNBC says.

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Haslam video touts state for CNBC Twitter Battle

CNBC on Tuesday will reveal the results of its sixth annual look at “America’s Top States for Business.”0115inauguration27_asb.jpg

New this year is a Twitter Battle — featuring short videos from the states’ governors. All 50 guvs were invited to submit videos detailing what makes their state the best for business.

In less than two minutes Gov. Bill Haslam makes the case for Tennessee. He mentions, among other things,  the state’s growing automobile manufacturing sector and a wide variety of consumer products made in Tennessee  — M&Ms, solar panels, chemicals, Jack Daniels and more.

Haslam makes sure to note that Tennessee has “one of the lowest state tax burdens in the country.”

Click here for Haslam’s video

All of the videos are on CNBC.com. Viewers can vote for their favorite via state-specific hastags — as in #TopStatesTN for Tennessee.

Buffett on banks, Europe, Google and more

Warren Buffett, chairman of Berkshire Hathaway, covered a lot of topics this morning in an interview with CNBC.1e5ec597e241f20c0e0f6a7067003053.jpg

He’s not worried about the global sell-off or Europe’s long-term prospects — it’s a big market and it’s not going away. Apple and Google are too risky for him.

America’s banks are in good shape and the United States did a good job of dealing with the financial crisis in 2008.

Fascinating stuff. Click here for the video.

Photo: In this May 5, 2012, photo, Warren Buffett, chairman and CEO of Berkshire Hathaway smiles on the exhibit floor where Berkshire products aer showcased, prior to the annual shareholders meeting in Omaha, Neb. (AP photo/ Nati Harnik)

A voice of reason on the economy

Despite what we hear from the far right, the U.S. economy is not circling the drain.

Dallas Federal Reserve President Richard Fisher made that clear in an interview with CNBC today. Fisher said that CEOs around the country tell him that they feel better about the economy.

” …The tone is a lot better. It’s not brilliant; we don’t have enough new hiring taking place, (but we’re) definitely moving in the right direction. … Things are better than the numbers might suggest or at least moving in the right direction,” Fisher said.

Fisher noted that exports and manufacturing are picking up and that the American private sector is “the most efficient in the world. They have cut costs to the bone. They are hyperproductive. They are still sitting on a pile of cash. I’m not sure all that cash has been put to work. We know there is a lot of cash on the sidelines.”

After listening to the drumbeat of doom that is the Republican presidential primary, it’s refreshing to hear a voice of reason.

Here’s the full Fisher interview:
CNBC Video: Dallas Fed President: Economy Getting Better

Ben Stein backs president on taxing millionaires

In case you missed it, President Obama’s campaign to raise tax rates on the rich gained an interesting ally a few days ago – Ben Stein.

In an interview on CNN, the economist/ actor said he rarely agrees with the president’s policies, but raising taxes on millionaires is “totally fair and abosolutely necessary” to save the economy. In his State of the Union speech last week, Obama said millionaires should pay at least a 30 percent rate.

It’s fantasy to believe that the economy will fully recover without raising takes on the uber rich, Stein said.

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What will Ben say? Will it matter?

Market watchers have been speculating all week about what Federal Reserve Chairman Ben
federal reserve.jpgBernanke will say Friday when he talks about what’s needed to spur the economy.

 Is QE3 in the works? How will the market react? Will whatever he says help the economy?

Here’s a sampling of what some pundits and experts expect.

Bloomberg: Bernanke May Forgo Easing as Data Point Higher

Forbes: Bernanke’s Jackson Hole Hamlet Moment: To QE Or Not To QE?

BusinessWeek: Bernanke Signaling No QE Backed by Data From Prices to Freight

CNBC: Bernanke Speech to Set Market Course Friday and Beyond

The Economic Times: US crisis: Ben Bernanke’s Jackson Hole speech could rattle the markets

Photo: Associated Press files

Alcoa CEO: Spending cuts, revenue increase both needed

A long-term solution to the federal budget deficit must include spending cuts and increased
032610alcoa9_mc12884.JPG revenue,  Alcoa Inc. Chairman and CEO Klaus Kleinfeld told the CNBC Squawk Box crew this morning.

Kleinfeld called a downgrade in the US credit rating or a default  “a nuclear option” and urged Congress and the President must come to terms on a plan that “gets us over the hump.”

The current debate is sucking the air out of the economy, Kleinfeld said, but he’s optimistic  a deal will be reached on the debt ceiling before the Aug. 2 deadline.

I’m not so confident a deal beating the deadline, but Kleinfeld is right about one thing it will take spending cuts and increased revenue to solve the deficit problem. Not just one, but both.

Kleinfeld Squawk Box interview: Getting America Back on Track

Tennessee slips in ranking of best states for business

Tennessee is the 18th best state for business in 2011, according to CNBC’s annual rankings. That’s down two spots from the 2010 list.

Virginia captured the top spot for the second straight year.

CNBC’s study considers 10 categories: Cost of Doing Business, Workforce, Quality of Life, Economy, Transportation & Infrastructure, Technology & Innovation, Education, Business Friendliness, Access to Capital and Cost of Living.

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Another government screwup costs you millions

CNBC is reporting that printing of the new high-tech, ultra-secure $100 bills has been halted
front_02.jpgdue to production problems.

More than one billion of the new C-notes are in storage and are unusable, according to the story, which cites “an official familiar with the situation.”

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FedEx CEO plugs electric vehicles on CNBC

In case you missed it, FedEx Corp. CEO Fred Smith had some interesting comments about the benefits of electric vehicles in an interview on CNBC on Monday.

FEDEX+CEO+LAWMAKERS(2).jpgSmith’s company has added electric vehicles to its fleet and Smith is a member of the Electrification Coalition, a nonpartisan group of business execs who support wide spread use of electric vehicles as means to “combat the economic, environmental, and national security dangers caused by our nations dependence on petroleum,” according to information on its website.

The coalition on Monday called for U.S. tax credits to help pay for corporate investment in electric vehicles.

Smith also shared with CNBC his thoughts on the economy and other issues.

Click here for the CNBC interview.

Photo: Fred Smith