Atlanta Economic Development Thread

[Ric 0_0]

TSYS
Total revenues were $1.04 billion, an increase of 2.8%. On a constant currency basis (non-GAAP), total revenues increased 3.4%. Net income attributable to TSYS common shareholders was $162.8 million, an increase of 14.3%.
https://finance.yahoo.com/news/tsys-...202000699.html


Global Payments
The company posted net income of $120.5 million, or 77 cents a share, up from $109.1 million, or 68 cents a share, in the year-ago quarter. Adjusted earnings climbed to $1.51 a share from $1.29 and exceeded the FactSet consensus, which called for $1.46. GAAP revenue for the second quarter rose to $935.2 million, up from $833.2 million a year earlier. Analysts were modeling $943.5 million in revenue. Adjusted net revenue came in at $1.11 billion, compared with $982.5 million a year earlier. The FactSet consensus had been projecting $1.11 billion.

The company now expects the deal (merger with TSYS) to close early in the fourth quarter, and Chief Executive Jeff Sloan told MarketWatch that he thinks the combined company will be well positioned relative to peers even as the industry evolves.
https://www.marketwatch.com/story/gl...ter-2019-07-30

[Ric 0_0]

Japanese heavy equipment manufacturer Kubota North America Corp. is spending $85 million to build an engineering and design center on about 300 acres adjacent to its factories in Gainesville.

It’s the latest expansion plan announced by the Osaka, Japan-based maker of tractors, mowers, utility vehicles and industrial equipment, which employs about 3,000 people already in Georgia. Kubota’s most recent expansion came in 2017, when the company expanded its national distribution center in Jefferson, Ga.

Kubota Manufacturing of America also has an industrial equipment factory in Jefferson, while Kubota Corp. of America operates a Southeast regional office in Suwanee. Kubota Corp. subsidiaries have expanded four times in Georgia since 2013, making the company one of the largest single employers in the state.

https://www.globalatlanta.com/kubota...eering-center/

[smArTaLlone]

https://www.bizjournals.com/atlanta/..._news_headline

Consumer products giant Newell Brands Inc., which in 2016 moved its headquarters out of Atlanta to New Jersey, announced Friday its moving headquarters back to Atlanta.

The move will "facilitate a stronger connection between senior leaders and the operations of the business, and to enhance the company's culture and sense of community. Three of Newell's seven operating divisions (Writing, Baby and Food) are based in Atlanta".

The new corporate headquarters in Atlanta will be located at Newell's existing location at 6655 Peachtree Dunwoody Road.

[Sura]

Originally Posted by smArTaLlone

https://www.bizjournals.com/atlanta/..._news_headline

The grass wasn't greener on the other side?

[Martinman]

You win some, you lose some, and you win some back again.

[jpk1292000]

Originally Posted by Sura

The grass wasn't greener on the other side?

I suspect they like the weather and especially the tax structure better here.

[Ric 0_0]

The Atlanta Journal-Constitution reports Helga, a 42-year-old glass-making giant based in Beverungen, Germany, plans to spend up to $6 million on the plant in Stockbridge, bringing jobs for about 21 people. City leaders said Thursday that the number of employees is expected to rise to about 50 over the next two years, and salaries would be around $60,000 a year.

http://metroatlantaceo.com/news/2019...plant-georgia/

[Ric 0_0]

Newell Brands Q2

Net sales from continuing operations were $2.1 billion, a decline of 3.9 percent compared with the prior year period. Core sales from continuing operations declined 1.1 percent from the prior year period. Reported operating margin was 8.4 percent compared with 3.8 percent in the prior year period. Normalized operating margin was 11.3 percent compared to 9.7 percent in the prior year period. Reported diluted earnings per share for the total company were $0.21 compared with $0.27 in the prior year period. Normalized diluted earnings per share for the total company were $0.45 compared with $0.78 in the prior year period. Operating cash flow was $191 million, a $180 million improvement versus a year ago. Gross debt was reduced by $517 million in the quarter; net debt was reduced by $777 million.

The company announced its decision to move its corporate headquarters to Atlanta, Georgia, in order to facilitate a stronger connection between senior leaders and the operations of the business, and to enhance the company’s culture and sense of community. Three of Newell’s seven operating divisions (Writing, Baby and Food) are based in Atlanta.

http://metroatlantaceo.com/news/2019...-back-atlanta/

[Ric 0_0]

I just found this article today, and I realize that this is extremely old (March 2019), but I thought that this was big enough to share. I live in Alpharetta, and I am ashamed to say that I didn't even know what Jackson Healthcare and how big it is.

https://www.northfulton.com/business...d25897bcf.html

Jackson Healthcare, a family of highly-specialized healthcare staffing, search and technology companies, officially opened its new, $100 million campus expansion on March 8 to accommodate its growth. “We are very proud to be in Alpharetta, Georgia,” Shane Jackson said. “It’s a great place to work, I think it’s a great place to live, personally, and the city’s been a great partner for us in really being flexible with some of the unique things we’re doing up here. The new campus is expected to accommodate 1,400 new associates and is dedicated to all Jackson Healthcare associates, past, present and future, said Chairman and CEO of Jackson Healthcare Richard L. Jackson.

The fact that they plan to hire an extra 1400 employees is insane. Definitely a big win for Alpharetta.

However, the new expansion is as gaudy, tacky, ugly, and unfitting for the area as anything in Las Vegas. It just looks so UGH.
https://jacksonhealthcare.com/about/campus/
Feel free to look at the pics on their website.

[Libertarian]

Richard L. Jackson is a very inspirational guy

[Ric 0_0]

https://www.bizjournals.com/atlanta/..._news_headline

(Paywall)

Kellogg's is shutting down their Atlanta factory and will be laying off 108 workers.

[Username123]

Originally Posted by Ric 0_0

https://www.bizjournals.com/atlanta/..._news_headline

(Paywall)

Kellogg's is shutting down their Atlanta factory and will be laying off 108 workers.

Sad they had to l’eggo of the workers.

[Ric 0_0]

Major U.S. multifamily real estate, investment and management company Cortland has acquired LIV Group for an undisclosed sum. The purchase is a significant move for the Atlanta-based multifamily business in its goal to create a market-leading position in the UK’s Build-to-Rent (BTR) sector. Based in Leeds with London offices, LIV Group was one of the earliest entrants to the BTR sector and created the first fully integrated operating model for BTR assets. It has gained vast experience mobilising, leasing and operating in excess of 20001 BTR homes nationwide with around 7,000 units in the pipeline for management, which it will deliver by the end of 2021. The business also operates the sector’s only specialist consultancy, LIV Consult. It provides advice on design, lifecycle, viability and operations for major BTR developments throughout the UK and Ireland, including consulting on more than 2,000 units in Dublin. Cortland’s acquisition includes LIV’s dedicated residential block management business, which provides management services to nearly 8,000 leasehold properties from smaller suburban blocks to flagship city centre buildings.

https://cortland.com/in-the-news/cor...ist-liv-group/

[Ric 0_0]

Georgia auto hauling giant Jack Cooper Ventures Inc. has filed for Chapter 11 bankruptcy and will seek a buyer.

The Kennesaw-based company, which says it is North America's largest car haul company, is led by Sarah Amico, its executive chairperson, who last year campaigned unsuccessfully to be elected Georgia lieutenant governor. T. Michael Riggs is the company's CEO.

In addition to the parent company, 18 Jack Cooper subsidiaries also filed Chapter 11 in U.S. Bankruptcy Court in Atlanta on Aug. 6. In Chapter 11 a company remains in business while it attempts to restructure its debts. Jack Cooper says it has debts of $575 million.

https://www.bizjournals.com/atlanta/..._news_headline

[Ric 0_0]

Intercontinental Exchange, Inc. (NYSE: ICE), a leading operator of global exchanges and clearing houses and provider of data and listings services, today announced it has entered into an agreement to acquire a family of fixed income volatility indices, including the prominent Merrill Lynch Option Volatility Estimate (“MOVE”) family of indices, from Bank of America Merrill Lynch. MOVE and the accompanying fixed income volatility indices will become part of ICE Data Indices’ comprehensive family of more than 5,000 global fixed income, equity, commodity and currency indices that leverage ICE Data Services’ pricing, reference data and analytics solutions. ICE Data Indices is the second largest fixed income index provider by assets under management globally, with more than $1 trillion benchmarked against them.

https://www.businesswire.com/news/ho...-Merrill-Lynch

[Libertarian]

Anyone seen some article or report on the economic status of ATL legacy retailers? Was in a couple dress shops with my wife yesterday evening and the scene on a Friday was dead to say the least.

[smArTaLlone]

https://www.bizjournals.com/atlanta/...s-of-jobs.html

PrimeRevenue will lease two floors, or almost 49,000 square feet at the 55-story tower.

PrimeRevenue will relocate from 1100 Peachtree. The supply chain finance company is growing rapidly.

[atlwarrior]

Originally Posted by smArTaLlone

https://www.bizjournals.com/atlanta/...s-of-jobs.html

I am so glad the BOA tower is taking advantage of its location near Tech Square.

[shivtim]

^I recently went to a meeting on one of the lower floors of BOA. They've done a lot of work and the re-done spaces look modern. They should be able to compete with all of the new class-A office buildings. Now if only they'd develop the block - the pedestrian experience is awful.

[Sura]

Originally Posted by shivtim

^I recently went to a meeting on one of the lower floors of BOA. They've done a lot of work and the re-done spaces look modern. They should be able to compete with all of the new class-A office buildings. Now if only they'd develop the block - the pedestrian experience is awful.

This might be the wrong thread to ask this question, but has there ever been talk of developing the block?