Business Briefs: Fort Payne among best for retirement

Business Briefs: Fort Payne among best for retirement

October 17th, 2012 by Staff Reports and Associated Press in Business Around the Region

Fort Payne among best for retirement

Fort Payne and Huntsville, Ala., are among the 25 best places to retire in America, according to the editors of Money Magazine.

The Alabama towns were praised for their relatively low housing cost, crime rates and taxes and the comparatively mild climate. Huntsville, ranked as the 16th best retirement city, benefited by an above-average job growth. Fort Payne, ranked No. 21 on the list of best places to retire, trailed the U.S. average in job growth but won accolades for its scenery and small town appeal.

"For most people, Alabama doesn't conjure images of mountain peaks, river gorges and waterfalls," Money magazine reported. "That's probably because they've never been to Fort Payne tucked between Lookout Mountain and Sand Mountain.

CSX profits dip from coal decline

CSX Corp. reported a 2 percent dip in its third-quarter profit and revenue Tuesday because the railroad delivered fewer carloads of coal and crops, and fuel surcharge revenue declined.

The Jacksonville, Fla.-based railroad made $455 million, or 44 cents per share. That's down from $464 million, or 43 cents per share in the same period a year ago.

Revenue fell 2 percent to $2.89 billion as the mix of goods it carried changed.

Battery maker files bankruptcy

After years of struggling in the nascent market for electric cars, battery maker A123 Systems Inc. filed for bankruptcy protection Tuesday.

The company received a $249 million Department of Energy grant three years ago with high hopes that it would help foster a U.S. battery industry. But the technology offered by the Waltham, Mass.-based A123 Systems turned out to be ahead of its time.

"Sometimes when you push the edge of technology, you fall over that edge," said Aaron Bragman, an automotive industry analyst at IHS Automotive near Detroit.