Business

Business
5:40 pm
Thu September 18, 2014

A Decade in the Making, Buckhead Atlanta Opens

Dene Oliver, Atlanta Mayor Kasim Reed, and former Atlanta mayor and current president of Buckhead Coalition, Inc., Sam Massell, pose for cameras before installing a commemorative brick at Buckhead Atlanta.
Credit Katie King / katiekingphotography.com

Buckhead Atlanta, a luxury development project started nearly a decade ago as "Streets of Buckhead," finally opened Thursday.

As the elite and wealthy gathered for the celebration, a quartet played the Stevie Wonder song, “Signed, Sealed, Delivered.” It seemed fitting for a project some thought would never happen.

“Today, Buckhead Atlanta goes from being the developer’s project to being the community’s destination,” said Hunter Richardson, an executive with project developer OliverMcMillan.

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Business
7:19 am
Thu September 18, 2014

Georgia Unemployment Rate Increased in August

The Georgia Department of Labor reports the state's unemployment rate for August rose slightly from the previous month.
Credit Georgia Dept. of Labor

The state’s seasonally adjusted unemployment rate for August was 8.1%, according to the Georgia Department of Labor.

That’s up from 7.7% in July, but down from 8.2% from August 2013.

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Business
7:56 pm
Tue September 16, 2014

Name of New Home of the Braves, SunTrust Park: Why Companies Pay Big Money for Naming Rights

Chris Lemley, instructor in the marketing department at Georgia State University's Robinson College of Business
Credit Georgia State University-Robinson College of Business

On Tuesday, September 16, 2014, state and local business and political leaders joined officials of the Atlanta Braves at the groundbreaking for the new Braves stadium in Cobb County.  

At the ceremony, team officials announced they had sealed a 25-year deal with Atlanta-based SunTrust Banks for the naming rights to the new ballpark.  It's the latest in a string of deals sports teams have made with big companies for the rights to put the companies' names on the teams' stadiums.  

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Airlines and Aviation
1:08 pm
Thu September 11, 2014

Delta, AirTran At Top of On-Time Performers

A Southwest Airlines B-737 taxis past a Delta jet parked at Atlanta's Hartsfield-Jackson International Airport.
Credit Jim Burress / WABE News

Atlanta-based Delta Air Lines was among the best at getting passengers to their destinations on-time in July, the U.S. Department of Transportation said.

Delta was on time 86% of the time.  That’s second only to Hawaiian.

AirTran ranked fourth, at 83%. 

Southwest, which is in the final stages of absorbing AirTran, was next-to-last at about 69%.   

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Business
12:13 am
Thu September 11, 2014

Small Business Optimism Improves, Still Low

Credit tcbmag.com

Small business owners are becoming more optimistic about the economy, according to a newly-released survey from the National Federation of Independent Business.

Even so, there's a continued concern among small business operators that times aren't as good as they should be. 

Even as economic indicators like unemployment and housing starts improve, small business owners feel the economy isn't rebouing as quickly as they'd like.

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Business
2:43 pm
Wed September 10, 2014

UPS Pilots say Company Puts Safety Second

The NTSB concluded pilot error caused UPS flight 1354 to crash on approach to Birmingham, Al in August, 2013.
Credit Courtesy: NTSB

Pilot error, not fatigue, was the main reason a UPS cargo jet crashed at Birmingham’s airport last year, according to a National Transportation Safety Board investigation.

The report finds the pilot and co-pilot maintained an “unstable approach” as they attempted to land. Pilots also failed to properly monitor altitude, the NTSB says.  Together, those factors caused the Airbus A-300 to crash off Birmingham’s runway 18, killing both crew members.

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Business
6:22 am
Mon September 8, 2014

Chick-fil-A Founder Cathy Dies at 93

Chick-fil-A founder S. Truett Cathy in 2006.
Credit Chick-fil-A Inc.

An Atlanta icon, known for providing a "taste of the South" to the rest of the nation, has died.

Chick-fil-A founder S. Truett Cathy died early Monday morning, according to a written statement issued by the restaurant chain.

The native of Eatonton, Georgia moved to Atlanta when he was four, and attended Boys High, now known as Grady High School.

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99-Year Lease to Developer
4:48 pm
Thu September 4, 2014

Oglethorpe University to Lease Part of Campus for Mixed Use Development

This is a rendering of the Gables complex at Oglethorpe University from Hermance Drive with a view toward the university campus.
Credit Oglethorpe University

Atlanta’s Oglethorpe University is leasing seven acres of its campus to a developer for a multi-use complex.

The Gables Residential Company will build luxury apartments for students and non-students.

In addition to the rental units, fitness center and parking, for all residents, the complex will have a classroom suite for Oglethorpe.

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Business
4:15 pm
Thu September 4, 2014

Home Depot Goes Deeper into Hacking Investigation

Home Depot continues to investigate a possible computer hacking incident.
Credit Evan Jang / WABE

Today, the news agency Reuters reported Atlanta-based retailer The Home Depot has been in contact with the U.S. Secret Service about the potential security breach of its customers’ credit card information.

When asked to confirm the Reuters report, a company spokeswoman told WABE The Home Depot is not doing any interviews at this point. The spokeswoman referred back to the company’s statement, which it updated late yesterday.

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Airlines and Aviation
2:15 pm
Wed September 3, 2014

Delta Exec Predicts Income of $4 Billion

One way Delta is reducing costs is by phasing out small, regional jets like the one pictured. In their place, Delta is using larger and more efficient jets.
Credit Courtesy: Wikimedia.org

Delta CFO Paul Jacobson says the airline expects to earn $4 billion in pre-tax income this year. That’s a billion and half more than last year, which was the best in Delta's history.

Speaking Wednesday from Boston via webcast, Jacobson inserted some long-term caution with his optimism.   

“Clearly, a level of growth that long-term may not be sustainable,” he said.

But right now, the gettin' is good. 

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Business
7:51 am
Wed September 3, 2014

Home Depot Investigating Possible Security Breach

The Home Depot might have been hacked.
Credit Home Depot

There’s a chance one of the nation’s biggest companies has fallen victim to a hacking incident.  

In a written statement on its website, Home Depot says it is looking into “unusual activity that might indicate a possible payment data breach.”

The Atlanta-based business says it is cooperating with law enforcement officials and banks to try to get to the bottom of this matter.

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Business
11:14 am
Thu August 28, 2014

Georgia Welcomes Fourth Kroger Marketplace

The new Kroger Marketplace debuted in Athens, GA this week.
Athens Clarke County Economic Development Department

Bulldog Nation has a new place for its tailgating needs.  

The Kroger Company opened a Kroger Marketplace in Athens on Wednesday.  

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Business
12:42 pm
Wed August 27, 2014

Ten-Acre Development Proposed for Piedmont/Lindbergh Area in Buckhead

A view of the proposed Lindbergh Place development.
Credit Fuqua Development / Special to WABE

One local developer is hoping the second time is the charm.

Fuqua Development has proposed a 10-acre project near the Lindbergh MARTA station.

  The plan includes an 80,000 square foot Kroger Fresh Fare.

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Business
11:32 am
Thu August 21, 2014

Security Breach at Four UPS Stores in Georgia

Four Georgia UPS Stores Inc. are linked to a security breach.
Credit The UPS Store Inc.

From January through August, customer information at 51 UPS Stores in 24 states may have been compromised.

“We under that this type of incident can be disruptive and we apologize for any anxiety that this has caused,” says UPS Store spokeswoman Chelsea Lee.

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Business
6:00 am
Wed August 20, 2014

Redevelopment Of Fort Gillem Gets Started

Redevelopment of a portion of the former Fort Gillem base in Forest Park gets underway. A Kroger distribution center is scheduled to open on the property in Fall of 2015.
Credit Michelle Wirth / WABE

A groundbreaking ceremony for a more than one million square foot distribution center for Kroger took place Tuesday on a former army base in Forest Park. State and local leaders say it’s the first step to turning the Fort Gillem property into a major distribution hub for the metro area and the Southeast.

  Rain poured as state lawmakers, local leaders, Kroger executives and Governor Nathan Deal gathered at the former army base for the groundbreaking. Governor Deal said locating the center on the more than 1,000 acre Fort Gillem property is a major accomplishment.  

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Business
12:46 am
Thu August 14, 2014

Small Biz Optimism Up, Kinda

Small business owners think the economy is improving, if only slightly.

The National Federation of Independent Business latest survey shows small business owners’ optimism rose a fraction of a percent in July to 95.7.

The NFIB sampled 1,645 random small businesses.

WABE sampled two, including Jake Rothschild, founder of Jake’s Ice Cream at the Irwin Street Market.

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Business
6:00 am
Wed August 13, 2014

Georgia Chamber Supports Including Atlantic In Plan That Could Lead To Offshore Drilling

Credit Georgia Chamber

The Georgia Chamber is in favor of including the Atlantic Continental Shelf in the U.S. Interior Department's five-year lease plan for oil and natural gas between 2017 and 2022. The Atlantic Continental Shelf includes the area off Georgia’s coast and has been closed to offshore drilling and exploration for more than 30 years.

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Business
11:57 am
Tue August 12, 2014

Delta Tops Annual Travel-Based Survey

Airfarewatchblog.com's 2014 ranking of U.S. airlines. This chart shows the overall performance ranking (column #2) and each airline's ranking in each category.
Credit Robert Aaron/WABE / Source data: http://www.airfarewatchdog.com/blog/19447786/best-us-airlines-2014-edition/

  Times have changed for Delta……in a good way.

In 2012, the company came in last in Airfarewatchdogdotcom’s annual rankings.

Some analysts say Delta's 2008 merger with Northwest played a factor.

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Business
11:59 am
Tue August 5, 2014

Georgia Enjoying Profits from Entertainment Industry

Georgia is becoming bigger within the entertainment industry.
Credit Lee Thomas / Ga. Department of Economic Development

Georgia is becoming the entertainment capital of the South.

State officials say there's a lot of “Lights, Camera and Action” taking place in Georgia.....and that’s bringing a lot of cash into the state.

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Business
5:03 pm
Mon August 4, 2014

Audit Shows Lucrative Airport Contract Lacks Enforceable Performance Standards

Credit Hartsfield-Jackson Atlanta International Airport

A lucrative agreement between Atlanta’s airport and its contractor in charge of parking lacks basic customer service incentives and penalties, according to a recently released audit by the city of Atlanta.

Hartsfield-Jackson Airport signed the contract with Chicago-based Standard Parking in 2009. It’s a big contract: Standard Parking manages 33,000 parking spaces and is responsible for nearly a quarter of the airport’s revenue – roughly $117 million.

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Airlines and Aviation
5:26 am
Fri August 1, 2014

Low Cost Carriers See Atlanta as New Frontier

Low cost carriers Frontier and Spirit see Atlanta as a growth market.

  Atlanta as an airline market is changing.

For years, AirTran’s low cost and low fare structure kept local airfares in check.

But since Dallas-based Southwest has absorbed AirTran, prices here are going up.

And that means low cost carriers are seeing Atlanta as a new frontier.

“Clearly, the change in the competitive dynamics in the marketplace have benefited us,” says Daniel Shurz, a senior vice president with Denver-based Frontier Airlines. 

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Business
4:18 pm
Thu July 31, 2014

A Tax-Free Weekend Ahead

A list of examples of what clothing is and is not tax-free this weekend.
Robert Aaron/WABE

Expect stores to be a little more crowded on Friday and Saturday.  That’s because many Georgians will take advantage of the state’s annual back-to-school tax-free weekend. 

  For roughly 48-hours, Georgians will be able to stock up on school supplies, computers and clothing without having to pay state and local taxes on those items. 

Nick Genesi is a spokesman for the Georgia Department of Revenue.

“Whether you are a teacher, whether you are a student or whether you’re a parent anytime you can save some money, it’s a good thing.”

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Business
12:37 pm
Thu July 31, 2014

Beazer Homes Reports Loss for 3Q

Despite an improving home building market, Atlanta-based Beazer Homes Thursday reported an overall loss for the third quarter of its fiscal year. 

Beazer says it earned $6.6-million dollars for the quarter that ended June 30th. But factor in a $19.8-million loss due to debt restructuring, and the national home builder fell short of analyst expectations.

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Business
4:30 pm
Mon July 28, 2014

Savannah Port Posts Record Year

The Savannah Port has posted a record year in individual units and total tonnage moved, according to the Georgia Ports Authority.

The port handled more than 3.14 million 20-foot container units and 29.4 million tons of freight in the 2014 fiscal year, which ended in June.

The Georgia Ports Authority says that’s a 6.3 and 8 percent increase, respectively, compared to last year. It’s also the first time the port moved more than 3 million container units.

Port Authority Director Curtis Foltz attributes the gains in part to an improving economy.

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Airlines and Aviation
1:52 pm
Wed July 23, 2014

Delta's ATL Hub Helps Boost Strong Profits

Credit Delta Air Lines

Delta Air Lines Wednesday posted double-digit profit gains for the June quarter and beat Wall Street's profit expectations. 

Everything seems to be going right at the Atlanta-based airline, at least from a balance sheet perspective. More passengers boarded Delta aircraft, and they paid a higher premium to do so.  

Delta says it earned $889-million during April, May and June. That’s a 17-percent increase over the same period a year ago.  

During an investor webcast, Delta president Ed Bastian said Atlanta was one of the airline’s bright spots.

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Business
11:29 am
Tue July 22, 2014

Delta Halts Service to Israel, Citing Safety Concerns

Credit Delta Air Lines

  Delta Air Lines has suspended all service to Israel.  

According to a written statement from the Atlanta-based carrier, the decision comes after reports that a rocket and associated debris was seen near Ben Gurion International Airport in Tel Aviv.

That forced a Delta flight from New York to be diverted to an airport in Paris on Tuesday.

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Business
12:01 pm
Mon July 21, 2014

Deloitte Opening Software Center in Atlanta

Deloitte picks Atlanta over six other metro areas for its new iLab.
Credit Deloitte

Atlanta's profile in the tech world is getting another boost.

Deloitte is expected to open an "iLab" in the downtown area later this year.

That's where the financial and consulting firm will develop cloud-based software and advanced analytics products for its Fortune 250 clients.

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Business
4:56 pm
Fri July 18, 2014

Teavana Leaving Atlanta for Seattle

Since its founding in 1997, Teavana has called Atlanta home. But that's about to change.  Starbucks, which purchased Teavana for $620-million in 2012, is moving the retailer's operations to its Seattle base. 

“I think it was just a matter of time before they would consolidate those operations," says ITG restaurant analyst Steve West. "There’s really a lot more international potential for tea rather than coffee.”

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Business
3:47 pm
Thu July 17, 2014

Delta Routing Planes Around Ukrainian Airspace

Credit Delta Air Lines

In the wake of the crash of Malaysian Airlines flight 17 over the Ukraine today, Atlanta-based Delta Air Lines says it's stopped routing flights through Ukrainian airspace out of "an abundance of caution." 

From Delta:

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Business
6:00 am
Fri July 11, 2014

Scammers Posing as Georgia Power Calling for Gift Card Payments

Callers pretending to be debt collectors from the Georgia Power Company are targeting customers in Atlanta's northern suburbs.

A well-known phone scam is cropping back up in Atlanta’s northern suburbs, and the scammers are using the Georgia Power Company as their alias.

Georgia Power says it has heard from more than 500 customers since the first of the year that they have gotten phone calls about their power bills being overdue or their payments lost in the mail.

“The caller tells the customer to go to a store that sells money cards,” says Georgia Power’s Carol Boatright. She says the utility does call customers about overdue bills but does not ask them to pay them off with debit or gift cards.

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