World’s Ambassadors to Visit Atlanta on U.S. State Department’s Experience America Tour

Atlanta chosen because of its prominence as one of the nation’s most vital places to do business

Atlanta will host nearly 50 foreign ambassadors from all over the world from Oct. 12-15 to showcase the city as a great place to do business. The U.S. State Department’s Experience America program takes foreign ambassadors to key American cities for three days to create new, mutually beneficial partnerships and provide visitors with a deeper understanding and appreciation of America’s people, culture and values.
“Choosing Atlanta to be visited by ambassadors from countries all over the world sends a strong signal -- that Atlanta is where the world comes to do business, make business connections and create jobs,” said Sam A. Williams, president of the Metro Atlanta Chamber (MAC). “Today Atlanta has the nation’s fourth-highest concentration of Fortune 500 headquarters in the country, the world’s busiest airport, and a network of world-class universities and colleges.”

As a part of the trip, the ambassadors, Atlanta Mayor Kasim Reed and top leaders in metro Atlanta’s business community will attend a breakfast hosted by the Metro Atlanta Chamber on Oct. 13. They will discuss Atlanta’s robust business community and the benefits of doing business in Atlanta.


WHO: United States Chief of Protocol Ambassador Capricia Penavic Marshall, Atlanta Mayor Kasim Reed, Metro Atlanta Chamber President Sam A. Williams

WHEN: Wednesday, Oct. 13, 8 – 9:30 a.m.


WHERE: Metro Atlanta Chamber Board Room, 235 Andrew Young International Blvd., NW, Atlanta, GA 30303


“Atlanta already has a strong international presence, with more than 2,400 international companies here and 65 countries represented by consulates, trade offices and investment agencies,” Williams added. “This tour is yet another opportunity to build connections around the globe.”

Many Atlanta companies -- such as UPS, Delta Air Lines, The Coca-Cola Company, AGCO, GE and others -- do business around the world. While in Atlanta, the ambassadors plan to visit the Metro Atlanta Chamber, Georgia Tech, CNN, the World of Coca-Cola, and the Carter Library, view the Martin Luther King Jr. papers at Morehouse College and visit the Martin Luther King Jr. Visitor’s Center. This is the sixth Experience America tour and other destinations have been California, Texas, Florida, New York and Chicago.

The Experience America is organized by the U.S. Department of State’s Office of the Chief of Protocol.

New Berlin Airport a Boon to American Businesses in Eastern Germany

/PRNewswire/ -- The twenty year anniversary of the reunification of Germany yesterday put the spotlight back on the formerly divided country and its capital, Berlin. Located at the center of Eastern Germany, Berlin now boasts one of the world's most impressive infrastructure projects, Berlin Brandenburg International airport. The airport adds to the region's portfolio as an international, high-tech business location, which is underscored by the presence of more investment projects in Eastern Germany from the USA than from any other country. Germany Trade & Invest will be presenting business opportunities in Eastern Germany to American companies at an event in Atlanta on October 5, 2010.

Berlin Brandenburg International Airport, slated to open in July of 2012, will serve the growing number of passengers to the region, with the ability to expand to serve 45 million travelers annually. At the same time, the airport provides an international hub in the center of Eastern Germany, a region currently characterized by growth in a number of cutting-edge fields like renewable energies, auto manufacturing and semiconductors. This project is expected to further attract businesses to the dynamic region.

The investor event on October 5, billed "Check in to Eastern Germany for European Business Success", will present new opportunities in the region arising from the opening of Berlin Brandenburg International airport in 2012, including business success stories in the region.

The USA is the number one source of foreign direct investment in Eastern Germany due to the region's growth potential, stable investment environment and concentration of high-tech industries. Several of the largest American companies are present here, including Atlanta-based Delta Airlines, First Solar, Amazon, General Electric, and Dell Computers.

On the whole, Germany is the top business location for American companies in Europe, according to a survey of American decision makers conducted by the American Chamber of Commerce in Germany. This is expected to continue, considering Germany's strong economic growth in the previous quarter. GDP grew by 2.2 percent, the highest quarterly result since reunification.

Germany Trade & Invest is the foreign trade and inward investment promotion agency of the Federal Republic of Germany. The organization advises foreign companies looking to expand their business activities in the German market. It provides information on foreign trade to German companies that seek to enter foreign markets.

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Flowers Foods Named 'Best-Managed' Food Company Among the 400 Best Big Companies in America

/PRNewswire-FirstCall/ -- Flowers Foods (NYSE: FLO) has been named the "best-managed" food company among the 400 best big companies in America by Forbes Magazine. Forbes editors selected Flowers Foods as the best among the 17 companies in the food, drink, and tobacco category that made it on to Forbes' annual Platinum 400 list. This is Flowers Foods' fifth time on the list and the second time the company has been named "best" in its category.

To create the list, the magazine looked at more than 1,000 publicly traded companies with at least $1 billion in revenue and then chose 400 based on financial metrics, earnings forecasts, corporate governance ratings, and other public company information. From that list, Forbes editors picked one best-managed company from each of the 26 industries represented. Forbes selected these companies not just for their financial performance, but also for leadership, innovation, and execution.

In addition, Flowers Foods' stock was one of 15 noted by Forbes as holding up well during recession. Editors looked through the Platinum 400 to see which stocks performed best in 2008 and during the last recession in 2001.

"We're honored to once again be selected as 'best of the best' among our peers by Forbes," said George E. Deese, chairman of the board, CEO, and president. "The entire organization takes pride in our ongoing dedication to executing on our long-term strategy that continues to build value for our shareholders."

"America's Best Big Companies" appears in the January 12, 2009 issue of Forbes and online at www.forbes.com/platinum.

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Invest in America Offers Incentive for Credit Union Members’ Car Purchase

(BUSINESS WIRE)--On Wednesday, January 7, representatives of General Motors and Chrysler Corporations announced the expansion of the “Invest in America” pilot discount purchase programs to credit union members. These programs are being made available to the members of the nation’s 7,900 credit unions. GM’s “Credit Union Member Discount Program” extends to March 31, 2009, and Chrysler’s “Credit Union Member Cash” rebate program extends through June 30, 2009.

With a certificate and proof of membership, a credit union member can receive a discount of 4.5% off the MSRP in addition to other available discounts on most General Motors products. With proof of credit union financing, a member can receive a rebate of $500 to $1,000 as specified for most vehicles from Chrysler (dealer participation is optional). The details of both these programs can be found at www.lovemycreditunion.org.

Although obviously impacted by levels of employment and general economic conditions, credit unions remain well capitalized and ready to lend to their members. Credit unions have continued to make automobile loans, mortgage loans, and loans for many other purposes to members throughout the recent economic struggles. Credit unions continue to be an available source of low-cost loans and capital, as well as providing the opportunity for members to participate in these discount auto purchase programs.

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Thanks to the Tennessee Credit Union League for the heads up on this great news.

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Famous Dave's Announces Closure of Atlanta Market and Lease Terminations

(BUSINESS WIRE)--Famous Dave's of America, Inc. (NASDAQ: DAVE) today announced it has closed its three restaurants in Atlanta, Georgia as a result of current and expected continuing cash losses from those units. The company continues to have discussions with the landlords of these restaurants regarding a buyout of these leases.

The company also announced that it has terminated two leases for restaurants expected to open in 2009, in Hoffman Estates, Illinois and Hyattsville, Maryland. Famous Dave’s could recognize up to $2.5 million in charges in its fiscal 2008 fourth quarter related to the Atlanta closings and lease terminations.

“We made the decision to take these actions in order to preserve cash and respond appropriately to the current slowdown in market conditions,” said Christopher O’Donnell, president and CEO of Famous Dave’s of America. “With consumer confidence at an all-time low and retail spending dropping at significant rates, we need to ensure that our balance sheet and cash flow are strong and able to weather any continued softness in the economy.”

The company said it is reevaluating its future sites based on changing site demographic profiles and commercial real estate values, improving the unit level economics of its existing restaurant base and developing and refining a smaller, more cost-effective prototype. Operationally, the company is focusing on making sure that its organization is of an appropriate size to maximize its general and administrative resources and eliminate unnecessary expenditures.

“All of our priorities – from the size, structure and growth rate of our restaurant base to our day-to-day operations – remain unchanged from our recent conference call,” O’Donnell said. “We will continue to focus on product enhancement, and are working hard to enhance the ‘Famous’ experience our customers have long associated with our brand. This is a time to seek excellence and innovation in our operations with creative food offerings and a heightened level of customer service."

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SBA Announces New Ways to Improve Small Businesses Access to Capital

(BUSINESS WIRE)--In response to the credit crunch, today SBA’s Acting Administrator Sandy K. Baruah announced important loan program changes to help the agency’s lending partners increase access to capital for small businesses.

First, an interim final rule allowing new SBA loans to be made with an alternative base interest rate, the one month LIBOR rate (London Interbank Offered Rate), in addition to the prime rate, which was previously allowed. In the past 60 days, both the prime and LIBOR rates have not yet returned to their historical relationship—of roughly 300 basis points between the two rates. The mismatch between the rates is squeezing SBA lenders out of the lending market, since their costs are based on the LIBOR rate.

“This change will help more small businesses obtain capital to grow their businesses and create new jobs,” Baruah said. “By allowing both rates, SBA is making its programs more flexible, increasing opportunities to access capital and giving both lending partners and small business customers more options to meet their needs.”

The second change allows a new structure for assembling SBA loans into pools for sale in the secondary market. The enhanced flexibility in loan pool structures can help affect profitability and liquidity in the secondary market for SBA guaranteed loans, especially with the current market conditions. Because the average interest rate is used, these pools are easier for pool assemblers to create, thus providing incentives for more investors to bid on these loans.

“The challenge small businesses face today is not the cost of capital, it is access to capital,” said Baruah. “Interest rates are at historically low levels meaning money is inexpensive, yet lenders aren’t lending and borrowers aren’t borrowing. This indicates markets are frozen due to liquidity concerns. This interim final rule is an important step to reenergize the lenders to make SBA-backed loans and will help open the gateway of capital for entrepreneurs.”

“SBA moved quickly on these changes after consulting with small businesses, lending partners and other government agencies,” said Eric R. Zarnikow, SBA’s Associate Administrator for the Office of Capital Access. “We’re confident these solutions will help free up capital so lenders can continue to make SBA-backed loans.”

By addressing market issues that were impeding the funding streams for both lenders and small businesses, SBA is making capital more available to America’s small businesses. The SBA will be issuing additional technical guidance to lenders in the coming weeks relating to the implementation of these important changes.

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