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VOL. 38 | NO. 20 | Friday, May 16, 2014

One million new residents headed to Middle Tennessee: Where will they live? Will we be ready?

For Middle Tennessee, the question is not, “If we build it, will they come?” It’s more like, “How will we build it before they come?” During the next 20 years, Middle Tennessee’s 10-county region will absorb 1 million new residents. That’s twice the growth rate of the rest of the nation.

Higher density translates to more tax revenue

Adding higher-density development can be a difficult pill to swallow for longtime residents of a city, town or neighborhood residents.

Seeing the future in commuter-friendly residential developements

The developers of the Nashville region’s first two Transit Ready Developments are counting on the idea that commuters would rather catch a train or a bus just a few steps from their door than sit in rush hour traffic.

REALTY CHECK

Homes sales down but prices continue to rise

The Greater Nashville Association of Realtors sales data for April show 2,676 properties closed in the month, a decrease of half a percent.

Local Weather
Today
Nashville, TN
63°F
Partly Cloudy
Wind: 6 mph
Humidity: 50%

EVENTS

Real Estate Investors Network Real Estate Investors Network. Ca$h Flow & Millionaire Maker Games. Learn financial strategies without having to invest any of your own hard-earned cash. These games are fun and educational ways to learn about wealth creation, managing assets and liabilities and escaping from the “rat race.” Today, 6 p.m., REIN Education Center – Belle Meade, 4525 Harding Road, Ste 200, Nashville. Information: reintn.org.

more events »

REAL ESTATE

Midstate Real Estate trends for April 2014

April 2014 real estate trends for Davidson, Williamson, Rutherford and Wilson counties, as compiled by Chandler Reports.

Top Midstate residential real estate transactions for April 2014

Top April 2014 residential real estate transactions for Davidson, Williamson, Rutherford, Wilson and Sumner counties, as compiled by Chandler Reports.

NASHVILLE AREA

Metro unveils final design for West Riverfront Park

Mayor Karl Dean today unveiled the final design and new renderings of phase one of the West Riverfront Park, an 11-acre civic park on the site of the former Thermal Transfer Plant.

TERRY McCORMICK

Finally! Titans build for future through the draft

OK, admit it. There were a bunch of you scratching your heads after the Titans drafted Taylor Lewan with the 11th overall pick in the NFL Draft.

NEWSMAKERS

Aegis Health selects chief executive officer

Phillip Suiter has been named CEO at Aegis Health Group, a privately held, Nashville-based company specializing in the development and execution of revenue growth strategies for hospitals.

BUSINESS BOOK REVIEW

You screwed up! Now, how to deal with it

Everybody knows what you did.

GUERRILLA MARKETING

Procrastination will likely kill your sales proposal

You put so much time and energy into getting a prospect to agree to a meeting, preparing for that meeting, pitching your services and gaining agreement from the prospect to consider buying.

THE WORLDLY INVESTOR

Reports point to warmer economy

In the second month of the quarter, the focus of investors shifts from the recently completed quarterly earnings season to the more broad economic landscape.

I SWEAR

Songwriter neighbor makes his way to Nashville

I was walking Maggie the cheagle in the neighborhood, as I often do. This was in November 2012, so the old girl was pushing 10 years old at the time.

KAY'S COOKING CORNER

Whet your appetite for island foods

Every time hubby and I go to an unknown vacation destination, we run into unusual foods from that particular culture.

STATEWIDE

More departures from Haslam-owned truck stop chain

NASHVILLE (AP) - More than a year after FBI agents raided the Tennessee headquarters of the huge truck-stop chain owned by the Cleveland Browns' owner and Tennessee's governor, Pilot Flying J is cleaning house.

Haslam names Krause to head college initiatives

NASHVILLE (AP) — Mike Krause, an assistant executive director at the Tennessee Higher Education Commission, has been appointed to head up Gov. Bill Haslam's initiatives to improve college graduation rates in the state.

State taking mobile career centers to 34 counties

NASHVILLE (AP) — Tennessee jobs officials are taking the state's Career Center services to more than 30 counties this spring and summer.

Teachers' union bemoans delay of TCAP scores

NASHVILLE (AP) — The head of Tennessee's largest teachers' union says the state's decision to delay the release of students' assessment scores is one main reason why such scores shouldn't be given a lot of weight.

AUTO INDUSTRY

Toyota recalling 430,500 vehicles in 3 recalls

DETROIT (AP) — Toyota is recalling 430,500 vehicles for three separate safety problems.

TECHNOLOGY

Facebook expands privacy checkup tool

NEW YORK (AP) — More Facebook users can expect to see a blue cartoon dinosaur popping up in their feeds, reminding them to check their privacy settings.

NATIONAL BUSINESS

Gasoline prices have familiar look as summer nears

NEW YORK (AP) — The price of gasoline looks familiar this Memorial Day. For the third year in a row, the national average will be within a penny or two of $3.64 per gallon.

Gauge of US economy posts 0.4 percent April gain

WASHINGTON (AP) — A gauge designed to predict the economy's future health posted a solid gain in April, further evidence of stronger growth after a severe winter dampened activity.

Average US 30-year mortgage rate falls to 4.14 pct

WASHINGTON (AP) — Average U.S. rates on fixed mortgages fell this week for a fourth straight week. The low rates could give a boost to the spring home-buying season, which has started slowly.

US home sales rose 1.3 percent in April

WASHINGTON (AP) — Sales of existing U.S. homes rebounded slightly in April, but the pace of buying remained below last year's level.

US unemployment aid applications rise to 326,000

WASHINGTON (AP) — The number of people seeking U.S. unemployment benefits jumped last week, but remained at a low level that suggests hiring should remain steady.

US stocks edge higher in afternoon trading

Stocks held on to modest gains in afternoon trading Thursday, building on the prior day's rebound. Investors were encouraged by reports on Chinese manufacturing, U.S. home sales and some positive earnings from Best Buy, Dollar Tree and other retailers.

Oil eases but remains near $104 a barrel

The price of oil drifted lower from a one-month high Thursday but held near $104 a barrel.

CEO: Sony needed to act sooner, but will reform

TOKYO (AP) — Sony Corp. Chief Executive Kazuo Hirai said Thursday the company accumulated huge losses because it didn't respond quickly enough to changing market conditions, but promised a return to profit next year.

NATIONAL POLITICS

Senate set to vote on $12.3 billion water bill

WASHINGTON (AP) — Congress is on the cusp of passing its first infrastructure bill of the year.


WEDNESDAY, MAY 21
MIDSTATE

Jindal to headline Tennessee Sen. Johnson's fundraiser

NASHVILLE (AP) - Tennessee state Sen. Jack Johnson is tapping yet another potential presidential candidate to headline his annual fundraising barbeque this summer.

STATEWIDE

Poll shows voters favor free tuition plan

NASHVILLE (AP) - A majority of Tennessee voters support Gov. Bill Haslam's program to cover a full ride at two-year colleges for any high school graduate, as well as higher education standards, according to the latest Vanderbilt University poll released Wednesday.

TECHNOLOGY

EBay asks users to change password after breach

NEW YORK (AP) — E-commerce site eBay is asking users to change their password after a cyberattack compromised a database containing encrypted passwords.

COURTS

BP to ask Supreme Court to hear claims issue

NEW ORLEANS (AP) — BP PLC says it will ask the U.S. Supreme Court to decide whether businesses must prove they were directly harmed by the 2010 Gulf Of Mexico oil spill to collect payments from a 2012 settlement.

AUTO INDUSTRY

GM adds 218,000 subcompacts to growing recall list

DETROIT (AP) — General Motors has added yet another recall to its growing list for the year.

OSHA probing complaints at Alabama car parts plant

SELMA, Ala. (AP) — Federal regulators are investigating complaints about safety problems at an automotive parts plant in Selma.

NATIONAL BUSINESS

Cleaner air could mean higher electric bills

NEW YORK (AP) — Electricity prices are probably on their way up across much of the U.S. as coal-fired plants, the dominant source of cheap power, shut down in response to environmental regulations and economic forces.

Stocks rebound on Wall Street; Tiffany shines

Stocks are recouping their losses from the day before as investors look through the latest corporate earnings news.

Oil climbs to $104 as US supplies drop sharply

The price of oil climbed to a one-month high Wednesday after a report showed a large drop in U.S. crude supplies, helped by a decline in imports.

Government: Airlines should disclose bag, seat fees

WASHINGTON (AP) — Going to bat for confused passengers, the government is proposing that airlines be required to disclose fees for basic items like checked bags, assigned seats and carry-on bags so consumers know the true cost of flying.

Netflix to be available in Germany, France, 4 other markets

SAN FRANCISCO (AP) — Netflix will expand into Germany, France and four other European countries later this year as the Internet video service tries to build an international following that might eventually surpass its U.S. audience.

NATIONAL POLITICS

Senate approves Fischer nomination to Fed board

WASHINGTON (AP) — The Senate has confirmed Stanley Fischer as a member of the Federal Reserve board but delayed a separate vote needed to make him the board's vice chairman.


TUESDAY, MAY 20
MUSIC INDUSTRY

Rascal Flatts lip-syncs lip-syncing apology

NASHVILLE (AP) - When multiplatinum country group Rascal Flatts appeared to be lip-synching during a performance at this year's Academy of Country Music Awards, the trio handled the aftermath - including a promotional round for new album "Rewind" just a month later - with a little honesty and a lot of humor.

NASHVILLE AREA

Music City Center celebrates 1-year anniversary today

NASHVILLE (AP) — The Music City Center, Nashville's $623 million convention center that dominates six city blocks downtown, is celebrating its one-year anniversary Tuesday.

US Education Secretary Duncan to visit Nashville today

NASHVILLE (AP) — U.S. Education Secretary Arne Duncan will make a series of stops in Nashville on Tuesday.

STATEWIDE

Tennessee Democrats net $500K in annual fundraiser

NASHVILLE (AP) — Tennessee Democrats say the $500,000 netted from its Jackson Day fundraiser set a new record for the beleaguered party.

Pilot Flying J president departs

KNOXVILLE (AP) — The president of a Knoxville, Tennessee-based company owned by Cleveland Browns owner Jimmy Haslam and Tennessee Gov. Bill Haslam is out amid an ongoing federal investigation into a scheme to defraud customers.

AUTO INDUSTRY

GM recalls 2.4 million more vehicles

DETROIT (AP) — General Motors said Tuesday it's recalling 2.4 million vehicles in the U.S. as part of a broader effort to resolve outstanding safety issues more quickly.

TECHNOLOGY

Microsoft unveils larger Surface tablet

NEW YORK (AP) — Microsoft announced a larger version of its Surface tablet to make the device more compelling as a laptop replacement.

NATIONAL BUSINESS

Housing debt still traps 10 million Americans

WASHINGTON (AP) — Nearly 10 million Americans remain financially trapped by homes worth less than their mortgage debts — an enduring drag on the U.S. economy almost seven years after the housing bust triggered the Great Recession.

Weak results at retailers drag US stocks lower

Retailers are used to throwing big sales. On Tuesday, it was investors who unloaded shares in several big retail chains, dragging down U.S. stocks and wiping out small gains from a day earlier.

Oil down slightly ahead of US supply report

The price of oil fell slightly ahead of the latest report on supplies in the U.S.

Cyber case puts more strain on US-China relations

WASHINGTON (AP) — The indictment of five Chinese military officials on cyber espionage charges will intensify friction between Beijing and Washington that has been growing as China gets bolder in asserting its territorial claims in disputed seas in East Asia.

ATT, DirecTV: Antitrust experts say 2 big deals better than 1

LOS ANGELES (AP) — Antitrust experts say AT&T's bid for DirecTV could reap immediate regulatory rewards. Coming so quickly on the heels of a rival cable company merger —the pairing of Comcast and Time Warner Cable— makes it easier for regulators to approve both transactions because they create two counterbalanced giants in pay TV.

AT&T eyes football in DirecTV buy

LOS ANGELES (AP) — One of the hidden benefits of AT&T's $48.5 billion planned purchase of DirecTV is that it raises the possibility of making DirecTV's programming crown jewel, NFL Sunday Ticket, more broadly available on mobile devices.

NATIONAL POLITICS

Obama to host CEOs whose firms are investing in US

WASHINGTON (AP) — President Barack Obama is hosting executives from 11 foreign and U.S.-based companies that have chosen to open new plants or relocate overseas operations in the United States. The gathering Tuesday is designed to illustrate growing interest in the United States by firms capable of creating high-paying jobs.

Koch Brothers group prepares to fight Detroit deal

LANSING, Mich. (AP) — Americans for Prosperity, the conservative advocacy group supported by the Koch brothers, has launched an effort to torpedo a proposed settlement in the Detroit bankruptcy case, potentially complicating chances for completing the deal just as its prospects seemed to be improving.


MONDAY, MAY 19
STATEWIDE

Haslam expresses regret for not adequately funding higher ed

NASHVILLE (AP) - Gov. Bill Haslam said Monday that he regrets not being able to adequately fund higher education so that all institutions that improve in some important ways can be rewarded financially.

NASHVILLE AREA

Guatemalan sentenced for illegal tax refund scheme

NASHVILLE (AP) - Federal prosecutors say a Guatemalan national has been sentenced in Nashville to 37 months in prison for his role in a fraudulent tax refund conspiracy that stole almost $650,000.

STATE LEGISLATURE

Lobbyists spending more in Tennessee

NASHVILLE (AP) - Records from the Tennessee Ethics Commission show lobbyists spent a record amount last year and could spend even more this year.

NATIONAL BUSINESS

Temporary jobs on rise in today's shifting economy

WASHINGTON (AP) — While the U.S. economy has improved since the Great Recession ended five years ago, part-time and "contract" workers are filling many of the new jobs.

Stocks close higher as investors consider deal news

NEW YORK (AP) — Stocks are closing slightly higher trading as investors consider the latest news on corporate deals.

Day at Disneyland now $96

ANAHEIM, Calif. (AP) — The price of a ticket at Disneyland is creeping closer to triple-digits.

Oil rises to four-week high, 3 pct. gain for May

The price of oil rose to a four-week high Monday, bringing its gain for the month of May to almost 3 percent.

AT&T aims for TV's future with $48.5B DirecTV deal

LOS ANGELES (AP) — AT&T says it views its planned $48.5 billion purchase of DirecTV as a way to help redefine the video entertainment industry, giving it opportunities to bundle services and tap into growing Latin American markets.


FRIDAY, MAY 16
STATEWIDE

Tennessee April unemployment rate 6.3 percent

NASHVILLE (AP) — Tennessee's unemployment rate for April was 6.3 percent, the state's lowest rate in six years.

Tennessee revenue collections continue to improve

NASHVILLE (AP) — Tennessee revenue collections are continuing to show signs of improvement, with April figures exceeding expectations.

COURTS

Reid opposes Obama court pick

WASHINGTON (AP) — Senate Majority Leader Harry Reid, one of the Obama administration's staunchest allies in Congress, announced his opposition Thursday to Michael Boggs' nomination to the federal bench, dealing a strong if not fatal blow to the former Georgia state lawmaker's confirmation hopes.

Anheuser-Busch discrimination suit in jury's hands

ST. LOUIS (AP) — A jury began deliberating Thursday afternoon in a former Anheuser-Busch executive's gender discrimination lawsuit against the company.

HEALTH CARE

Cost-control plan for health care could cost you

WASHINGTON (AP) — You just might want to pay attention to the latest health insurance jargon. It could mean thousands of dollars out of your pocket.

AUTO INDUSTRY

GM is fined $35 million over deadly defect

WASHINGTON (AP) — Federal safety regulators slapped General Motors with a record $35 million fine Friday for taking more than a decade to disclose an ignition-switch defect in millions of cars that has been linked to at least 13 deaths.

GM recalls midsize cars to fix brake problem

DETROIT (AP) — General Motors is recalling about 8,200 midsize cars to fix a problem with the front brakes.

GM recalls 2.7M more cars; industry on record pace

DETROIT (AP) — General Motors recalled an additional 2.7 million vehicles Thursday as a deep dive into safety issues at the nation's biggest automaker turned up more problems with some of the cars it built over the past decade.

TECHNOLOGY

FCC votes to go forward with net neutrality rules

NEW YORK (AP) — The Federal Communications Commission on Thursday voted to go forward with the proposal of new rules that could set standards for Internet providers who wish to create paid priority fast lanes on their networks.

NATIONAL BUSINESS

Stock market manages slight gain after choppy day

NEW YORK (AP) — Good results from retailers and demand for telecommunications shares market helped push the stock market to a small gain on Friday.

Oil rises on US housing data, Ukraine tensions

The price of oil rose past $102 a barrel Friday on strong U.S. construction activity and increased tensions in Ukraine.

Today's CEO: The changing role at the top

NEW YORK (AP) — Used to be that CEOs were hired for their knowledge of the industry, years of experience and the ability to lead with a tight fist. But the role of the top job has changed dramatically over the last several years.

US home building climbed 13.2 percent in April

WASHINGTON (AP) — U.S home construction surged in April to its highest pace in five months. Almost all that increase came from the volatile apartment sector, a sign that Americans are still struggling to buy single-family homes.

Uneven global economy a test for central banks

WASHINGTON (AP) — The global economy is plodding ahead in fits and starts as the largest countries struggle to achieve consistent growth.

Darden to sell Red Lobster, hold onto Olive Garden

NEW YORK (AP) — Darden is setting Red Lobster adrift, but betting that it can still turn around Olive Garden's fortunes.

Fast-food protests spread overseas

NEW YORK (AP) — Labor organizers turned up the pressure on McDonald's and other fast-food chains to raise worker pay on Thursday, with plans to stage actions in more than 30 countries.

NATIONAL POLITICS

House, Senate unveil water project bill compromise

WASHINGTON (AP) — House and Senate negotiators on Thursday unveiled a compromise bill that authorizes billions of dollars for water projects over the next decade, from flood protections in California to port deepening in Georgia's rapidly growing Port of Savannah.

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