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Bank of America adds 35 small biz bankers in Atlanta

Bank of America adds 35 small biz bankers in Atlanta

ATLANTA -- Bank of America Corp. reported Wednesday it hit its target of hiring more that 1,000 small business bankers in 2012, including 35 in Metro Atlanta.

The Charlotte, N.C.-based bank said it extended $280.2 million in credit to Georgia small businesses and $8.7 billion nationally last year. The $8.7 billion was an increase of 28 percent over 2011.

It recently reported net income of $2.8 billion for 2012. It also saw its head count shrink by about 5,000 employees to 267,190 in the fourth quarter, evidence that BofA is still trimming staff levels as it works to lower its expenses. Branches also continued to close, with BofA reporting 5,478 banking centers across its U.S. franchise at the end of the year, down from 5,702 centers a year earlier. 

Bank of America is the third-largest bank in metro Atlanta with 145 local branches and $20.4 billion in area deposits for a market share of 17 percent. 

5 advantages of having a virtual accountant

5 advantages of having a virtual accountant

ATLANTA -- A metro Atlanta-based accounting firm is part of a growing business trend: providing outsourced financial services. Not just bookkeeping, QuickBooks services or tax planning— but the duties of an entire accounting department, including those of the chief financial officer— are now done virtually, in the clouds.

To stay ahead of industry trends Chris Smith, a Certified Public Accountant and former corporate controller who is owner of CB Smith & Associates, P.C., began offering remote accounting services in 2006. He knows firsthand how small to midsize businesses can reap financial advantages by outsourcing. Here are five:

·        Cost savings. Businesses can save money on the health insurance, payroll taxes, physical office space and other costs a full-time employee would incur.

Macy's closing 6 underperforming stores around U.S.

ATLANTA (WXIA) - Macy's announced this week that they are closing six stores across the nation, in what the retailer said was a part of a normal review of business. None of the stores closing are in Georiga.

The stores closing include a Bloomingdale's Fashion Show Home Store in Las Vegas, and Macy's stores in Paseo, Colo., Belmont, Mass., Honolulu, St. Paul and Houston.

After the closings the chain will operate 798 stores in 45 states, including the Macy's Central division flagship store at Lenox Square. In Georgia, Macy's also has full-service stores at North Point, Athens, Cumberland, Greenbriar, Northlake, Perimeter, Augusta, Mall of Georgia, Columbus, North DeKalb and South DeKalb Malls, Arbor Place, Town Center, Stonecrest, Southlake, Savannah and Macon. There is one Bloomingdale's location in Lenox Square, and Macy's Furniture locations in Duluth, Alpharetta, at Town Center and at Perimieter Mall.

LittlePINKBook.com holds 8th Annual Fall Empowerment event

LittlePINKBook.com holds 8th Annual Fall Empowerment event

LittlePINKBook.com, the digital platform for career women, hosted its 8th Annual Fall Empowerment Event on November 13. More than 300 professional women attended the luncheon event, at the Atlanta History Center, along with more than 550 unique viewers joining via live stream. Some viewers planned gatherings of 50 or more women and leveraged the event to enhance their own business and networking meetings in cities across the globe.

The executives on the panel candidly answered questions related to their career paths to the C-Suite. Glenda Umaña, anchor at CNN en Español, was the event’s moderator. Read LittlePINKBook.com’s “Top 10 Takeaways” for favorite thoughts shared by the three panelists:

·        Teri List-Stoll, SVP and Treasurer, Procter & Gamble

Starbucks buying Atlanta-based Teavana for $620M

Starbucks buying Atlanta-based Teavana for $620M

NEW YORK -- Starbucks wants to make the tea shop as ubiquitous as its namesake cafes.

The Seattle-based company said Wednesday that it will pay $620 million in cash to buy Atlanta-based Teavana Holdings Inc., which sells high-end loose leaf teas in 300 shopping mall locations. The plan is to grow Teavana's footprint beyond the suburban mall with stand-alone shops around the world, while adding tea bars where customers can buy hot and cold drinks.

The deal marks Starbucks latest push to expand beyond its cafes, with the company facing intensifying competition from fast-food chains offering specialty coffees. Last summer Starbucks bought small bakery chain La Boulange for $100 million. Last year it added fresh-juice maker Evolution to its stable for $30 million.

Owner of Simon Property Group recognized by CDP for climate change disclosure

Owner of Simon Property Group recognized by CDP for climate change disclosure

ATLANTA -- Simon Property Group, Inc. (NYSE:SPG), the world’s leading retail real estate company, recently announced two awards recognizing its commitment to sustainability issues.

Atlanta-area Simon properties include Lenox Square, Mall of Georgia, Northlake Mall, Phipps Plaza and Town Center at Cobb.

For the second consecutive year, SPG has been recognized by the Carbon Disclosure Project (CDP) with inclusion in its select Carbon Disclosure Leadership Index (CDLI). Yet again in 2012, SPG was the only real estate company to be awarded the CDLI distinction.

Small Business Administration offers drought aid

Small Business Administration offers drought aid

ATLANTA -- The U.S. Small Business Administration announced Monday that it will accept applications for loan assistance for Georgia enterprises in 12 counties affected by the drought.

The aid program targets farm-related and other entities not covered by aid from the Department of Agriculture.

The eligible counties are Banks, Barrow, Cherokee, Dawson, Forsyth, Fulton, Gwinnett, Habersham, Hall, Jackson, Lumpkin and White.

The loans are intended to cover fixed costs such as payroll and scheduled debt payments. They are capped at $2 million with terms up to 30 years. Interest rates are 3 percent for non-profits and 4 percent for small businesses. The SBA determines the amounts and specific terms.

More information for potential applicants is available by calling 800-659-2955 or going online to sba.gov.

The application deadline is Apr. 22, 2013.