Michael E. Kanell

Business Reporter

Economics writer Michael E. Kanell has covered business, telecom, jobs and housing for the AJC since 1995.

Latest from Michael E. Kanell

Atlanta-based Home Depot hits $100 billion in sales
 Home Depot sales have grown more than twice as fast as the nation’s economy, a pace that will continue through this year, the company predicted Tuesday. Although the massive Atlanta-based company opened just six new stores during the past year, growth of sales surged 6.7 percent from the previous fiscal year to break the $100 billion...

Posted: 15 hours ago

Home Depot sales have grown more than twice as fast as the nation’s economy, a pace that will continue through this year, the company predicted Tuesday. Although the massive Atlanta-based company opened just six new stores during the past year, growth of sales surged 6.7 percent from the previous fiscal year to break the $100 billion...
Atlanta homebuilder sells out: Deeper pockets may mean faster growth
 An aggressive Atlanta homebuilder is selling itself to a Japanese-based company, seeing deeper pockets as the only sure way to grow. FrontDoor Communities, is being acquired by Virginia-based Stanley Martin Communities in a deal whose financial details have not been announced. But Stanley Martin itself sold a controlling interest a year ago...

Posted: 4 days ago

An aggressive Atlanta homebuilder is selling itself to a Japanese-based company, seeing deeper pockets as the only sure way to grow. FrontDoor Communities, is being acquired by Virginia-based Stanley Martin Communities in a deal whose financial details have not been announced. But Stanley Martin itself sold a controlling interest a year ago...
Atlanta home prices up nearly 10 percent in a year
 Metro Atlanta home prices jumped 9.9 percent on average during the past year, while the supply of homes for sale crashed to what might be record lows, according to the latest report from the Atlanta Realtors Association. The median sales price last month was $245,000, up from $223,000 in January of last year, the monthly report said. Part...

Posted: 4 days ago

Metro Atlanta home prices jumped 9.9 percent on average during the past year, while the supply of homes for sale crashed to what might be record lows, according to the latest report from the Atlanta Realtors Association. The median sales price last month was $245,000, up from $223,000 in January of last year, the monthly report said. Part...
S.F. company’s new idea: Lease homes to potential Atlanta buyers
 It’s not a unique idea: leasing a home as a stepping stone to buying it. What seems new to metro Atlanta is the approach taken – and the customers targeted – by a San Francisco-based company with big ambitions in a massive market and deep pockets from venture capital backers. For starters, the renter builds equity every...

Posted: 4 days ago

It’s not a unique idea: leasing a home as a stepping stone to buying it. What seems new to metro Atlanta is the approach taken – and the customers targeted – by a San Francisco-based company with big ambitions in a massive market and deep pockets from venture capital backers. For starters, the renter builds equity every...
Atlanta construction sector upbeat, survey says
 It’s an upbeat time for the metro Atlanta construction industry, according to a survey of local companies. Revenues and profits have been rising and the biggest problem for the sector has been finding and hiring the right workers, said Tom Jollay, co-leader for the construction practice at Bennett Thrasher, an Atlanta-based accounting...

Posted: 5 days ago

It’s an upbeat time for the metro Atlanta construction industry, according to a survey of local companies. Revenues and profits have been rising and the biggest problem for the sector has been finding and hiring the right workers, said Tom Jollay, co-leader for the construction practice at Bennett Thrasher, an Atlanta-based accounting...
Buyers pay a hefty new home premium in Atlanta
 It’s no secret that home prices in Atlanta have been rising. It’s also pretty well-known that new homes tend to fetch a premium over resales — they pretty much always have. But that gap has surged in the past few years for the median sales prices of new homes versus resale. In 2017 the price difference for a new home vs...

Posted: 7 days ago

It’s no secret that home prices in Atlanta have been rising. It’s also pretty well-known that new homes tend to fetch a premium over resales — they pretty much always have. But that gap has surged in the past few years for the median sales prices of new homes versus resale. In 2017 the price difference for a new home vs...
Equifax names Home Depot exec to lead security 
 Equifax has gone across town for help, naming an executive who is leaving Home Depot to become its new chief information security officer.  Jamil Farshchi, who was hired by Home Depot after that company’s data breach, takes the slot at Equifax about five months after the company revealed that hackers had accessed the personal information...

Posted: 8 days ago

Equifax has gone across town for help, naming an executive who is leaving Home Depot to become its new chief information security officer.  Jamil Farshchi, who was hired by Home Depot after that company’s data breach, takes the slot at Equifax about five months after the company revealed that hackers had accessed the personal information...
Atlanta not among leaders in millennial education
 When it comes to the percentage of millennials who have college degrees, metro Atlanta ranks in the top third of the country, according to a new study. The study, released Monday by the Brookings Institution, shows 39 percent of Atlantans between the ages of 25 and 34 have graduated from college or achieved higher degrees. Metro Atlanta placed...

Posted: 8 days ago

When it comes to the percentage of millennials who have college degrees, metro Atlanta ranks in the top third of the country, according to a new study. The study, released Monday by the Brookings Institution, shows 39 percent of Atlantans between the ages of 25 and 34 have graduated from college or achieved higher degrees. Metro Atlanta placed...
American mobility declines, but Atlanta’s still a popular destination
 Americans aren’t moving as much as they used to. But, when they do, metro Atlanta remains a prime destination. Atlanta is near or at the top of the charts as a place that footloose Americans are targeting, according to Penske Truck Rentals and several other companies that track such things. Many of those newcomers are the kind of young...

Posted: 11 days ago

Americans aren’t moving as much as they used to. But, when they do, metro Atlanta remains a prime destination. Atlanta is near or at the top of the charts as a place that footloose Americans are targeting, according to Penske Truck Rentals and several other companies that track such things. Many of those newcomers are the kind of young...
Equifax lambasted again in new Senate report
 Equifax this week endured yet another public battering – this time in a report issued by a high-profile critic of the financial services industry. The company has been under fire since revealing in early September that the personal information of more than 145 million Americans had been compromised in a data breach. According to U.S...

Posted: 12 days ago

Equifax this week endured yet another public battering – this time in a report issued by a high-profile critic of the financial services industry. The company has been under fire since revealing in early September that the personal information of more than 145 million Americans had been compromised in a data breach. According to U.S...
Wild days on Wall Street: Volatility rules
 Two days of plummeting stock prices were reversed on Tuesday as the market bounced off a bad start and finished with a big gain. From huge losses to big wins, the common thread is volatility and most analysts say the antidote to roller-coaster nausea is perspective: the stock market matters, but it is not the same as the economy...

Posted: 14 days ago

Two days of plummeting stock prices were reversed on Tuesday as the market bounced off a bad start and finished with a big gain. From huge losses to big wins, the common thread is volatility and most analysts say the antidote to roller-coaster nausea is perspective: the stock market matters, but it is not the same as the economy...