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 home sales down again, prices rise
 A supply-demand mismatch has continued to chill housing sales in metro Atlanta, according to a report from Re/Max of Georgia. The number of home sales last month was down 7.1 percent from the level of a year ago, with the worst plunge coming in Clayton, where sales fell 17 percent. That compares with a national decline of 1.1 percent during...

Posted: 2 days ago

A supply-demand mismatch has continued to chill housing sales in metro Atlanta, according to a report from Re/Max of Georgia. The number of home sales last month was down 7.1 percent from the level of a year ago, with the worst plunge coming in Clayton, where sales fell 17 percent. That compares with a national decline of 1.1 percent during...
Georgia jobless rate dips below U.S. average
 Georgia’s economy added 12,000 jobs last month as the state unemployment rate ticked down below the national average for the first time in more than a decade, according to a report Thursday from the state Department of Labor. The jobless rate dipped from 3.9 percent in July to 3.8 percent in August — a sign that, even if...

Posted: 3 days ago

Georgia’s economy added 12,000 jobs last month as the state unemployment rate ticked down below the national average for the first time in more than a decade, according to a report Thursday from the state Department of Labor. The jobless rate dipped from 3.9 percent in July to 3.8 percent in August — a sign that, even if...
SunTrust online banking restored after outage
 Online banking services were restored to thousands of SunTrust customers Tuesday following a two- day outage. “We have restored digital capabilities, although some have intermittent access,” said Sue Mallino, a spokeswoman for the Atlanta-based bank. “We continue to monitor performance.” The crash occurred Sunday...

Posted: 6 days ago

Online banking services were restored to thousands of SunTrust customers Tuesday following a two- day outage. “We have restored digital capabilities, although some have intermittent access,” said Sue Mallino, a spokeswoman for the Atlanta-based bank. “We continue to monitor performance.” The crash occurred Sunday...
The buzz about Coca-Cola: In talks with cannabis company
 Coca-Cola is reportedly talking with Aurora Cannabis about the idea of developing beverages infused with an ingredient found in marijuana. As reported by BNN Bloomberg Television, the negotiations revolve around infusing drinks with CBD, a chemical that can be used to treat pain, but is not the source of the “high&rdquo...

Posted: 6 days ago

Coca-Cola is reportedly talking with Aurora Cannabis about the idea of developing beverages infused with an ingredient found in marijuana. As reported by BNN Bloomberg Television, the negotiations revolve around infusing drinks with CBD, a chemical that can be used to treat pain, but is not the source of the “high&rdquo...
Number of home sales drops in metro Atlanta in August
 The housing market’s long-running trend of fewer sales and higher prices has intensified, adding to worries about affordability in the region, according to a report from the Atlanta Realtors Association. Last month, there were 5,062 home sales in the region’s 11 central counties, down 9.7 percent from the level of August...

Posted: 11 days ago

The housing market’s long-running trend of fewer sales and higher prices has intensified, adding to worries about affordability in the region, according to a report from the Atlanta Realtors Association. Last month, there were 5,062 home sales in the region’s 11 central counties, down 9.7 percent from the level of August...
In metro Atlanta, many higher income households are choosing to rent
 Jake Mendelson really likes his apartment in Chamblee, a nice place near the Brookhaven line that is close to stores and restaurants and just a 10-minute drive to work. He’s a renter because he wants to be, not because he needs to be. The 24-year-old investment expert isn’t philosophically opposed to owning. He just doesn&rsquo...

Posted: 11 days ago

Jake Mendelson really likes his apartment in Chamblee, a nice place near the Brookhaven line that is close to stores and restaurants and just a 10-minute drive to work. He’s a renter because he wants to be, not because he needs to be. The 24-year-old investment expert isn’t philosophically opposed to owning. He just doesn&rsquo...
Compass attacks Atlanta market with money and tech: rivals lash back
 In an aggressive and controversial tech-based attack on the real estate market, a well-funded, ambitious New York-based firm has launched in Atlanta, vowing to snare 20 percent of the lucrative market within two years. Compass, which is reportedly backed by more than $800 million raised from venture capitalists and other investors...

Posted: 16 days ago

In an aggressive and controversial tech-based attack on the real estate market, a well-funded, ambitious New York-based firm has launched in Atlanta, vowing to snare 20 percent of the lucrative market within two years. Compass, which is reportedly backed by more than $800 million raised from venture capitalists and other investors...
A year later, Equifax slammed while boasting of change
 A year after hackers broke into Equifax’s network and stole the personal information of 148 million Americans, a report by a consumer watchdog group is lambasting the credit reporting agency for not addressing its vulnerabilities earlier and for botching its response to the unprecedented breach. Moreover, the report  &mdash...

Posted: 17 days ago

A year after hackers broke into Equifax’s network and stole the personal information of 148 million Americans, a report by a consumer watchdog group is lambasting the credit reporting agency for not addressing its vulnerabilities earlier and for botching its response to the unprecedented breach. Moreover, the report  &mdash...
Study: Job growth should continue in Georgia this year
 Solid job growth in Georgia will continue through this year and into the future, defying the odds against a pick-up in hiring so late in an expansion, according to a high-profile forecast from Georgia State University. The state will add 78,400 jobs this year – the lion’s share of them in metro Atlanta – which is significantly...

Posted: 25 days ago

Solid job growth in Georgia will continue through this year and into the future, defying the odds against a pick-up in hiring so late in an expansion, according to a high-profile forecast from Georgia State University. The state will add 78,400 jobs this year – the lion’s share of them in metro Atlanta – which is significantly...
Atlanta home prices up, though U.S. rise slowing
 Metro Atlanta home prices rose 5.7 percent on average during the past year, picking up the pace slightly even as the national trajectory decelerated, according to a much-watched survey. The Atlanta region’s prices had one of the strongest gains last month among the largest metro areas, but over the past year was in the middle of the...

Posted: 26 days ago

Metro Atlanta home prices rose 5.7 percent on average during the past year, picking up the pace slightly even as the national trajectory decelerated, according to a much-watched survey. The Atlanta region’s prices had one of the strongest gains last month among the largest metro areas, but over the past year was in the middle of the...
Kroger launches online delivery for Atlanta
 Kroger has added Atlanta to the turf on which the battle of online food deliver is being fought. The Cincinnati-based grocery chain has announced that its online service – known as Kroger Ship – is available in metro Atlanta. It is the fifth region in which Kroger now confronts e-commerce behemoths Walmart and Amazon. &ldquo...

Posted: 28 days ago

Kroger has added Atlanta to the turf on which the battle of online food deliver is being fought. The Cincinnati-based grocery chain has announced that its online service – known as Kroger Ship – is available in metro Atlanta. It is the fifth region in which Kroger now confronts e-commerce behemoths Walmart and Amazon. &ldquo...