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 InComm adding 150 jobs
 Atlanta-based InComm has announced plans for an expansion that will add more than 150 jobs in Georgia. The technology company said it will invest $20 million in capital developments, both in Atlanta and Columbus, according to the office of Georgia Gov. Nathan Deal, who touted the state’s attractiveness for financial technology. &ldquo...

Posted: 6 hours ago

Atlanta-based InComm has announced plans for an expansion that will add more than 150 jobs in Georgia. The technology company said it will invest $20 million in capital developments, both in Atlanta and Columbus, according to the office of Georgia Gov. Nathan Deal, who touted the state’s attractiveness for financial technology. &ldquo...
Atlanta home prices up faster than national average
 Extending a six-year trend of solid increases, metro Atlanta home prices rose 6.5 percent during the past year, slightly outpacing the national average, according to a high-profile analysis issued Tuesday. Of the 20 largest metro areas in the nation, the Atlanta region saw the 10th highest increase, stronger than the national average of 6...

Posted: 8 hours ago

Extending a six-year trend of solid increases, metro Atlanta home prices rose 6.5 percent during the past year, slightly outpacing the national average, according to a high-profile analysis issued Tuesday. Of the 20 largest metro areas in the nation, the Atlanta region saw the 10th highest increase, stronger than the national average of 6...
Smyrna-based company in $150 million deal for epilepsy drug
 A quiet, Smyrna-based pharmaceutical company that has been flying under the radar, has emerged to announce a $150 million deal to buy an epilepsy drug. UCB, which already produces a number of drugs aimed at epilepsy, will buy the drug from Proximagen, which is part of a Minnesota-based company. The drug is a treatment for &ldquo...

Posted: 12 hours ago

A quiet, Smyrna-based pharmaceutical company that has been flying under the radar, has emerged to announce a $150 million deal to buy an epilepsy drug. UCB, which already produces a number of drugs aimed at epilepsy, will buy the drug from Proximagen, which is part of a Minnesota-based company. The drug is a treatment for &ldquo...
Atlanta gas prices are up and likely going higher
 Gas prices typically go up in the spring, but as metro Atlanta drivers are seeing, this is worse than usual. Area prices have risen to an average of $2.67 a gallon for regular, which is 17 cents higher than a month ago and 38 cents a gallon higher than a year ago, according to Gas Buddy, which operates the Atlanta Gas Prices web site. &ldquo...

Posted: a day ago

Gas prices typically go up in the spring, but as metro Atlanta drivers are seeing, this is worse than usual. Area prices have risen to an average of $2.67 a gallon for regular, which is 17 cents higher than a month ago and 38 cents a gallon higher than a year ago, according to Gas Buddy, which operates the Atlanta Gas Prices web site. &ldquo...
Atlanta-based SunTrust says data on 1.5 million customers tapped
 Atlanta-based SunTrust on Friday said it feared that a now-former employee had wrongly accessed basic information about 1.5 million customers. The company became aware in late February that the person – an employee at the time – had access to confidential information including names, addresses, phone numbers and some account balances...

Posted: 4 days ago

Atlanta-based SunTrust on Friday said it feared that a now-former employee had wrongly accessed basic information about 1.5 million customers. The company became aware in late February that the person – an employee at the time – had access to confidential information including names, addresses, phone numbers and some account balances...
Georgia loses jobs in March, but unemployment rate steady
 After two strong months, Georgia’s economy lost jobs in March. The number of jobs dropped by 7,400 during the month after adding 9,200 in January and 18,300 in February. The unemployment rate, which is calculated from a different, less extensive survey, held steady at 4.4 percent, according to a report issued Thursday by the Georgia...

Posted: 5 days ago

After two strong months, Georgia’s economy lost jobs in March. The number of jobs dropped by 7,400 during the month after adding 9,200 in January and 18,300 in February. The unemployment rate, which is calculated from a different, less extensive survey, held steady at 4.4 percent, according to a report issued Thursday by the Georgia...
Atlanta company raises all pay to $50k: quirky or smart?
 Most smart employers want to pay enough to get the workers they need, but not more. Yet Rented.com, an Atlanta company with technology that fuels Airbnb, has raised the minimum pay for all employees to $50,000 and the company’s chief executive says the firm will save money in the long run by paying more. Wait, what? True, said...

Posted: 5 days ago

Most smart employers want to pay enough to get the workers they need, but not more. Yet Rented.com, an Atlanta company with technology that fuels Airbnb, has raised the minimum pay for all employees to $50,000 and the company’s chief executive says the firm will save money in the long run by paying more. Wait, what? True, said...
Georgia loses jobs in March, gov’t says
   Number of jobs: -7,400 Unemployment rate: 4.4 percent, unchanged Number of unemployed: 226,020 Growing sectors: logistics, healthcare Shrinking sectors: corporate, technology, hospitality   _______________________    Unemployment rate: 4.4 percent Highest unemployment rate in March: 10.6 percent, 2010  Lowest unemployment...

Posted: 5 days ago

  Number of jobs: -7,400 Unemployment rate: 4.4 percent, unchanged Number of unemployed: 226,020 Growing sectors: logistics, healthcare Shrinking sectors: corporate, technology, hospitality   _______________________    Unemployment rate: 4.4 percent Highest unemployment rate in March: 10.6 percent, 2010  Lowest unemployment...
Home Depot ramping up hiring for tech jobs
 Home Depot has announced plans to hire 1,000 techies — several hundred of them in Atlanta — in a dramatic expansion of its technology muscle. The surge of hiring adds to a technology workforce currently at 2,800, according to Paul Mayer, manager of the company’s tech communications. The hiring will be spread among Atlanta...

Posted: 6 days ago

Home Depot has announced plans to hire 1,000 techies — several hundred of them in Atlanta — in a dramatic expansion of its technology muscle. The surge of hiring adds to a technology workforce currently at 2,800, according to Paul Mayer, manager of the company’s tech communications. The hiring will be spread among Atlanta...
Home Depot sued for mismanaging retirement fund accounts
 A suit filed in federal court against Home Depot charges that the hardware giant permitted mismanagement of retirement funds affecting more than 200,000 people and costing their accounts at least $140 million. The complaint against the $100 billion-a-year, Atlanta-based company was filed last week in U.S. District Court in...

Posted: 7 days ago

A suit filed in federal court against Home Depot charges that the hardware giant permitted mismanagement of retirement funds affecting more than 200,000 people and costing their accounts at least $140 million. The complaint against the $100 billion-a-year, Atlanta-based company was filed last week in U.S. District Court in...
Number of Atlanta home sales drops hard from 2017
 Home sales last month in metro Atlanta dropped more than 10 percent from a year ago, according to a report from the Atlanta Realtors Association. Despite continued growth in the economy, the usual surge of March home sales fell 549 short of the level reached during the same month of 2017, the report concluded, using data for an 11-county...

Posted: 8 days ago

Home sales last month in metro Atlanta dropped more than 10 percent from a year ago, according to a report from the Atlanta Realtors Association. Despite continued growth in the economy, the usual surge of March home sales fell 549 short of the level reached during the same month of 2017, the report concluded, using data for an 11-county...