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VOL. 38 | NO. 2 | Friday, January 10, 2014

Nashville building spree is less about Mayor Karl Dean, more about the city’s 10-year-old ‘50-year plan’

If you want to see where a mayor’s true priorities lie, just look at his capital spending plan.

Top projects during Dean tenure

A sampling of projects completed, begun, proposed or greenlighted during Mayor Dean's administration:

AMP planners uninterested in compromise that could increase West End-area support, cut costs

If Mayor Karl Dean gets his signature $175 million mass transit initiative, The Amp bus rapid transit line, it will be one of his key political achievements.

REALTY CHECK

Earnestly, you’ve got to read the contract

When Oscar Wilde penned “The Importance of Being Earnest” in the early 1890s, he displayed no prescience relating to real estate matters in 2014. There is no importance of being earnest money these days. Even if the currency is Bitcoin.

Local Weather
Today
Nashville, TN
64°F
Fair
Wind: 7 mph
Humidity: 52%

EVENTS

Public Input Meeting for The Amp: The Metropolitan Transit Authority is holding public input meetings for the final design and engineering phase of The Amp, Nashville’s proposed bus rapid transit system. Today's meeting will focus on West Nashville and will be held at 5:30 p.m. at West End Middle School. MTA will hold a second round of meetings in March to discuss how the input has or has not been incorporated into the project. The purpose of this week's sessions has been to incorporate the community suggestions that uniquely represent each neighborhood impacted by the Amp. Each charette will focus on the portion of the route in which the meeting is held.

more events »

REAL ESTATE

Year-end Midstate real estate trends for 2013

Year-end 2013 real estate trends for Davidson, Williamson, Rutherford and Wilson counties, as compiled by Chandler Reports.

Top Midstate residential real estate transactions for Dec. 2013

Top December 2013 residential real estate transactions for Davidson, Williamson, Rutherford, Wilson and Sumner counties, as compiled by Chandler Reports.

Davidson County's Top Lenders for December 2013

A look at Davidson County’s top lenders based on total number of all loans, commercial and residential. Only loans that have the actual lender name listed on the trust deed filing are included.

TERRY McCORMICK

Titans have to get this hire right

When the Tennessee Titans and Mike Munchak were unable to come to an agreement, it represented a watershed moment for the franchise.

GUERRILLA MARKETING

Your business' Facebook friends need to do more than ‘like’

Brands leveraging social media as an arrow in their quiver of marketing tools naturally want to know what drives people to engage with their brand.

THE WORLDLY INVESTOR

Looking forward to low inflation

The thundering herd that carried the equity markets into the record books in 2013 seemed spooked by the first few trading days of 2014. Should we read into this?

NEWSMAKERS

Corizon selects Johnson as chief medical officer

Corizon, a provider of correctional health care solutions, has appointed Calvin B. Johnson, M.D., M.P.H., as its new chief medical officer.

I SWEAR

Seriously? He fell for Nigerian inheritance scam?

Early last month, an attorney whose name I’ll spare you was suspended from practice for 12 months by his state’s disciplinary panel. Someone the lawyer had represented in a criminal case presented documentation indicating that he (the client) was the beneficiary of a large bequest. From a long-lost cousin. In Nigeria.

KAY'S COOKING CORNER

Healthier eating habits for the new year

When I was younger, I thought I’d never live to see the year 2000 anything. It all seemed so far away. However, I also thought 50 years old was ancient and I’d never live to be that age, either.

MUSIC INDUSTRY

Urban, Rascal Flatts to headline ACM charity fest

NASHVILLE (AP) — Keith Urban and Rascal Flatts are headlining the Academy of Country Music's Party for a Cause Festival in April, and helping to open a new entertainment district at Caesars Palace at the same time.

Country singer Trace Adkins enters alcohol rehab

NASHVILLE (AP) — Country singer Trace Adkins has entered alcohol rehab.

STATE LEGISLATURE

Haslam to bring back school voucher bill

NASHVILLE (AP) - Gov. Bill Haslam says he will support a school voucher bill this legislative session and that it will be similar to one he proposed last year.

Haslam announces anti-meth proposal

NASHVILLE (AP) - Gov. Bill Haslam is proposing legislation that would require a prescription for more than a 20-day supply of cold medicines that are used to make methamphetamine.

STATEWIDE

Tennessee gay marriage supporters encouraged by Oklahoma

NASHVILLE (AP) — Supporters of gay marriage in Tennessee say they are encouraged by recent federal court rulings in Utah and Oklahoma that struck down state limits on same-sex marriage.

NASHVILLE AREA

Nashville prosecutor Torry Johnson won't run again

NASHVILLE (AP) — Nashville's longtime district attorney general has announced he won't seek re-election to another term in August.

HEALTH CARE

Cybersecurity chief had qualms over health website

WASHINGTON (AP) — The top cybersecurity officer for the Health and Human Services Department said he was concerned about potential vulnerabilities ahead of the launch of the Obama administration's health care website.

Insurer UnitedHealth's 4Q profit rises 15 percent

UnitedHealth Group's fourth-quarter earnings jumped 15 percent and topped expectations, as the nation's largest health insurer booked a sizeable gain from a business that doesn't sell insurance.

NATIONAL BUSINESS

Airfares continue to rise, up 12 percent since '09

NEW YORK (AP) — The price of flying continues to climb, with the average domestic roundtrip ticket, including tax, reaching $363.42 last year, up more than $7 from the prior year.

US homebuilder confidence dips in January

U.S. homebuilders lost a little confidence in the housing market this month but remain generally upbeat ahead of the spring home-selling next season.

Weak earnings drag US stocks mostly lower

NEW YORK (AP) — After hitting a record high the day before, stocks were mostly lower Thursday as investors reacted to disappointing results from Best Buy, Citigroup and CSX, a railroad company.

US weekly unemployment benefit claims drop to 326k

WASHINGTON (AP) — The number of Americans seeking unemployment benefits fell 2,000 last week to a seasonally adjusted 326,000, a sign that layoffs are weighing less on the job market and economic growth.

Homes lost to foreclosure hit 6-year low in 2013

LOS ANGELES (AP) — The number of U.S. homes that got started on the path to foreclosure fell last year to a low not seen since before the high-flying days of the housing boom, the latest evidence that the threat of foreclosures continues to diminish.

US consumer prices up 0.3 pct., most in 6 months

WASHINGTON (AP) — The number of Americans seeking unemployment benefits fell 2,000 last week to a seasonally adjusted 326,000, a sign that layoffs are weighing less on the job market and economic growth.

Oil price edges up on higher US demand

LONDON (AP) — The price of oil edged further above $94 a barrel on Thursday on expectations of improved demand in the U.S.

Best Buy holiday sales fall, shares skid

MINNEAPOLIS (AP) — Best Buy said Thursday that a key sales barometer fell during the holiday shopping season, stung partly by weakness in the U.S. and a retail environment heavy on promotions.

NATIONAL POLITICS

Senate ready to send $1.1T spending bill to Obama

WASHINGTON (AP) — Drained of much of its vitriol over the budget, Congress is poised to adopt a $1.1 trillion package financing federal agencies this year, a bipartisan compromise that all but banishes the specter of an election-year government shutdown.


WEDNESDAY, JANUARY 15
STATE LEGISLATURE

Bill seeks to ban federal health care law

NASHVILLE (AP) - State Republicans have filed legislation to resist implementation of President Barack Obama's health care law in Tennessee.

Full Senate to vote on latest AG election proposal

NASHVILLE (AP) — The state Senate is taking another run at changing the way Tennessee's attorney general gains office.

STATEWIDE

Tennessee receives economic development honor

NASHVILLE (AP) — Tennessee has been named the "2013 State of the Year" by a national economic development publication.

More than 6,900 in Tennessee get rural home loans

NASHVILLE (AP) — The U.S. Agriculture Department says more than 6,900 families used its rural home loan program to buy a house in fiscal year 2013.

Business coalition to support Common Core

NASHVILLE (AP) — A statewide business coalition is showing its support for Tennessee's Common Core standards.

HEALTH CARE

Chronic care overhaul proposed for Medicare

WASHINGTON (AP) — A bipartisan group of lawmakers is proposing a new approach to health care aimed at avoiding hospitalizations for older people, when possible.

AUTO INDUSTRY

GM predicts modest pretax profit gain this year

DETROIT (AP) — General Motors Co. said Wednesday it expects a modest gain in pretax profits this year as global sales growth slows.

NATIONAL BUSINESS

S&P 500 index ekes out another record high close

NEW YORK (AP) — It was a squeaker, but the Standard & Poor's 500 index closed at its first all-time high of 2014.

Oil rises nearly 2 pct on big drop in US supplies

NEW YORK (AP) — The price of oil closed above $94 a barrel for the first time in two weeks on a big drop in supplies.

Fed: US economic growth healthy over holidays

WASHINGTON (AP) — A Federal Reserve survey shows economic growth remained healthy in most U.S. regions in late November and December, helped by gains in consumer spending and factory output.

Apple will refund at least $32.5M in app case

WASHINGTON (AP) — Apple will refund at least $32.5 million to consumers to settle a federal case involving purchases that kids made without their parents' permission while playing on mobile apps, the government announced Wednesday.

US wholesale costs rose last month on gas prices

WASHINGTON (AP) — U.S. wholesale prices increased in December, pushed up by rising gasoline prices and energy costs. But overall inflation remained mild.

Davos to focus on global economy, conflicts

GENEVA (AP) — Conflicts like the war in Syria and getting the world economy back on track will be the focus of next week's annual gathering of world leaders and power brokers in the Swiss ski resort of Davos.

World Bank sees global economy picking up

WASHINGTON (AP) — The global economy is slowly picking up steam, led by advanced economies appearing to turn the corner after five years of financial crises and recession and a continued good performance by China, the World Bank said Tuesday.

Charging Netflix at issue in open-Internet case

NEW YORK (AP) — Will broadband providers start charging Internet services such as Netflix to deliver the massive amounts of data that streaming video and other content require?

Google builds a 'Nest' for future of smart homes

SAN FRANCISCO (AP) — When our Internet-connected gadgets and home appliances all learn to talk to each other, Google wants to be at the center of the conversation.

Bank of America 4Q earnings jump nearly five-fold

NEW YORK (AP) — Bank of America Corp. said Wednesday that its fourth-quarter profit jumped from a year earlier, as the loans on the bank's balance sheet continued to improve.

NATIONAL POLITICS

Obama calls on Congress to renew jobless benefits

RALEIGH, N.C. (AP) — President Barack Obama is keeping the heat on lawmakers to renew jobless benefits for the long-term unemployed.

Obama to nominate California businesswoman to lead SBA

WASHINGTON (AP) — President Barack Obama intends to nominate Maria Contreras-Sweet, the founder of a Latino-owned community bank in Los Angeles and a former California cabinet secretary, to be head of the Small Business Administration, according to a White House official.

House ready to OK government-wide $1.1T budget

WASHINGTON (AP) — Party leaders pushed a massive $1.1 trillion spending bill for this year through the House on Wednesday, shunning the turmoil of recent budget clashes with a compromise financing everything from airports to war costs and brimming with victories and concessions for both parties.


TUESDAY, JANUARY 14
NASHVILLE AREA

Authorities seek founder of Newtown charity

HARTFORD, Conn. (AP) - Authorities in Connecticut and Tennessee are investigating a charity that raised money it said would go to those affected by last year's school shooting in Newtown, Connecticut's attorney general confirmed Tuesday.

Genesco quarter-to-date key sales metric flat

NASHVILLE (AP) - Genesco said Tuesday that its sales at stores open at least a year were flat for the quarter to date. The retailer also cautioned that its fiscal 2014 adjusted profit is now expected at the lower end of its outlook due to quarter-to-date results and current trends.

STATE LEGISLATURE

Lawmakers reconvene for 108th General Assembly

NASHVILLE (AP) - State lawmakers on Tuesday reconvened the 108th Tennessee General Assembly in a legislative session that is expected to feature debates over creating a school voucher program and whether to allow supermarkets to sell wine.

Lawmakers to remember state Rep. Lois DeBerry

NASHVILLE (AP) — Tennessee lawmakers will remember state Rep. Lois DeBerry when they reconvene for the legislative session on Tuesday.

STATEWIDE

36K in Tennessee enroll through insurance marketplace

NASHVILLE (AP) - More than 36,000 Tennesseans have signed up for coverage under the new health insurance exchange established under President Barack Obama's law.

COURTS

Appeals court sets aside Internet neutrality rules

WASHINGTON (AP) — In a decision that could reshape consumers' access to entertainment, news and other online content, a federal appeals court Tuesday set aside Federal Communications Commission rules designed to ensure that transmission of all Internet content be treated equally.

Judge rules judicial evaluation commission invalid

NASHVILLE (AP) - A Nashville judge ruled on Tuesday that the panel that evaluates Tennessee's appellate judges is invalid because it does not have enough female members.

AUTO INDUSTRY

GM global sales hit 9.7M last year, beats VW

DETROIT (AP) — General Motors sold 9.71 million cars and trucks last year, probably not enough to beat out Toyota for the global sales crown, but about 200,000 better than Volkswagen.

NATIONAL BUSINESS

US stocks bounce back a day after big loss

NEW YORK (AP) — The good followed the bad for the stock market on Tuesday.

US oil prices rise

The price of U.S. oil was up nearly 1 percent Tuesday along with a rising stock market.

CBS clobbers rivals with 15 of Top 20 shows

NEW YORK (AP) — The Nielsen ratings company says football and a slate of robust comedies and dramas gave CBS a big prime-time win last week.

Beanie Babies creator gets probation, no prison

CHICAGO (AP) — The billionaire creator of Beanie Babies was sentenced to two years of probation, but no prison time, on Tuesday for tax evasion on $25 million in income he had stashed away in Swiss bank accounts.

Holiday sales up 3.8 pct, retail trade group says

NEW YORK (AP) — A major retail trade group says holiday sales rose 3.8.percent, just below the group's 3.9 percent forecast.

US retail sales inch up, but holiday spending weak

WASHINGTON (AP) — Americans bought more clothes in December, shopped more frequently online and ate out more often, providing a boost to economic growth at the end of the year. But sales at most traditional stores declined, as the holiday shopping season ended on a lackluster note.

JPMorgan 4Q profit falls 7 percent on legal costs

NEW YORK (AP) — JPMorgan Chase said Tuesday that its profits fell 7 percent in the fourth quarter, hampered by more legal woes.

Wells Fargo earnings rise 11 percent

Wells Fargo says its fourth-quarter profit rose 11 percent as increased interest income helped offset a steep drop in mortgage lending.

DirecTV customers lose The Weather Channel

LOS ANGELES (AP) — About 20 million DirecTV customers nationwide lost The Weather Channel because of a dispute over fees between the channel and the satellite service.

NATIONAL POLITICS

Dozens of trade-offs in $1.1 trillion budget bill

WASHINGTON (AP) — A massive $1.1 trillion spending bill to fund the government through October and finally put to rest the bitter budget battles of last year is getting generally positive reviews from House Republicans eager to avoid another shutdown crisis with elections looming in 10 months.

Obama: On economy, focus is on executive actions

WASHINGTON (AP) — Calling for "all hands on deck" to assist the economy, President Barack Obama is urging his Cabinet to identify ways to keep his administration relevant to people struggling in the up-and-down recovery.

Proposed spy phone record shift draws resistance

WASHINGTON (AP) — Telephone companies are quietly balking at the idea of changing how they collect and store Americans' phone records to help the National Security Agency's surveillance programs. They're worried about their exposure to lawsuits and the price tag if the U.S. government asks them to hold information about customers for longer than they already do.


MONDAY, JANUARY 13
NASHVILLE AREA

Titans hire Ken Whisenhunt as new coach

NASHVILLE (AP) — The Tennessee Titans have wrapped up their coaching search by hiring San Diego offensive coordinator Ken Whisenhunt as their new head coach and 17th in franchise history.

STATEWIDE

Weston Wamp mounts renewed bid for House seat

NASHVILLE (AP) - Weston Wamp announced Monday that he is mounting another bid to win his father's old seat in Congress.

TSEA head Robert O'Connell to retire in May

NASHVILLE (AP) — Robert O'Connell, the executive director of the Tennessee State Employees Association, has announced he plans to retire in May after four years leading the group.

Head of supermarket wine sales group leaving

NASHVILLE (AP) — The campaign manager for a group advocating for supermarket wine sales in Tennessee is leaving to become the CEO of the Greater Nashville Association of Realtors.

COURTS

Court could limit president's recess appointments

WASHINGTON (AP) — Just back from their own long break, Supreme Court justices set out Monday to resolve a politically charged fight over when the Senate's absence gives the president the power to make temporary appointments to high-level positions without senators' approval.

AUTO INDUSTRY

Fisker bankruptcy bidding heats up quickly

WILMINGTON, Del. (AP) — Hybrid Technology, led by Hong Kong billionaire Richard Li, has offered $55 million in an auction of Fisker Automotive's assets, just days after a bankruptcy judge in Delaware rejected Hybrid's plan to take over the failed electric-vehicle manufacturer in a private sale.

Corvette, Silverado take top auto show awards

DETROIT (AP) — The Chevrolet Corvette Stingray, built in Bowling Green, Ky., has been named North American Car of the Year at the North American International Auto Show. The truck of the year is the Chevrolet Silverado.

BMW sets sales record, tops German luxury rivals

FRANKFURT, Germany (AP) — Luxury carmaker BMW AG has posted record sales for 2013, keeping its No. 1 spot in the market for high-priced cars against its German competitors Audi and Mercedes.

NATIONAL BUSINESS

Stocks have their worst day in two months

NEW YORK (AP) — The stock market is down the most in two months, continuing a weak start to the year.

Crude oil falls below $92 a barrel on Iran deal

The price of oil fell below $92 a barrel Monday as Libyan production continued to ramp up and the possibility of increased crude exports from Iran raised the prospects of excess supply on global markets.

Google says it will buy Nest Labs for $3.2B

NEW YORK (AP) — Google Inc. will pay $3.2 billion to buy Nest Labs, which develops high-tech versions of devices like thermostats and smoke detectors.

Suntory buying spirits maker Beam for $13.62B

DEERFIELD, Ill. (AP) — Beam, the maker of Jim Beam and Maker's Mark bourbons along with other liquor brands, has agreed to be acquired by Japan's Suntory Holdings Ltd. for approximately $13.62 billion.

NATIONAL POLITICS

Federal government runs December surplus of $53.2B

WASHINGTON (AP) — The U.S. government ran a $53.2 billion surplus in December, signaling further improvement in the nation's finances.

Loss of jobless aid leaves many with bleak options

WASHINGTON (AP) — A cutoff of benefits for the long-term unemployed has left more than 1.3 million Americans with a stressful decision:


FRIDAY, JANUARY 10
STATE LEGISLATURE

Haslam to decide on school vouchers next week

NASHVILLE (AP) - Gov. Bill Haslam won't announce his decision about whether to support school voucher legislation until next week, when state lawmakers return into session.

STATEWIDE

Tennessee corporate taxes fall $54M short in December

NASHVILLE (AP) — Tennessee business tax collections fell more than $54 million below projections in December, contributing to a more than $175 million shortfall through the first five months of the budget year.

Pharmacy tracking doesn't decrease meth labs

NASHVILLE (AP) - A state law requiring electronic tracking of pseudoephedrine purchases does not appear to have had much effect on the production of methamphetamine in Tennessee.

Democrat Adams touts outsider status in Senate bid

NASHVILLE (AP) - Knoxville attorney Terry Adams is touting his status as a political outsider in his bid for the Democratic nomination for the U.S. Senate.

Electrolux plant in Tennessee to add 650 jobs

MEMPHIS (AP) — Production is heating up at the big Electrolux kitchen oven plant in Memphis, and officials said Thursday they expect to eventually employ 1,200 people and produce 600,000 ovens annually.

Alexander to launch 60-second campaign ad Monday

NASHVILLE (AP) - Republican U.S. Sen. Lamar Alexander is launching a new television ad on Monday that features testimonials from a series of Tennesseans about his accomplishments as governor and in Washington.

NASHVILLE AREA

Predators host school supply drive

NASHVILLE (AP) — The Nashville Predators are hosting a school supply drive to benefit an organization that helps the hearing impaired.

HEALTH CARE

Doctors say cutting food stamps could backfire

WASHINGTON (AP) — Doctors are warning that if Congress cuts food stamps, the federal government could be socked with bigger health bills. Maybe not immediately, they say, but over time if the poor wind up in doctors' offices or hospitals as a result.

Some find health insurers have no record of them

INDIANAPOLIS (AP) — Record-keeping snags could complicate the start of insurance coverage this month as millions of people begin using policies they purchased under President Barack Obama's health care overhaul.

AUTO INDUSTRY

Bankruptcy judge rejects Hybrid plan for Fisker

WILMINGTON, Del. (AP) — A Delaware bankruptcy judge has ordered a competitive auction for the assets of Fisker Automotive, rejecting a proposal by a group led by Hong Kong billionaire Richard Li to assume control of the failed electric-vehicle manufacturer in a private sale.

Carmakers: Driverless cars need legal framework

LAS VEGAS (AP) — The future of driving is right around the corner.

Mercedes sees record sales in 2013

FRANKFURT, Germany (AP) — Automaker Daimler AG says its Mercedes-Benz luxury cars had a record year last year, boosted by new models and stronger sales in its biggest market, the United States.

NATIONAL BUSINESS

Stocks mostly up despite report of US hiring slump

NEW YORK (AP) — Investors shrugged off a report of a sharp slowdown in hiring last month and left major U.S. stock indexes mostly higher.

Oil rises, jobs data show economy needs Fed help

The price of oil jumped more than $1 a barrel Friday as the U.S. economy added fewer jobs than expected, fueling speculation that the Federal Reserve will reconsider its plans to slow economic stimulus.

Surprisingly weak jobs report puzzles economists

WASHINGTON (AP) — It came as a shock: U.S. employers added just 74,000 jobs in December, far fewer than anyone expected. This from an economy that had been adding nearly three times as many for four straight months — a key reason the Federal Reserve decided last month to slow its economic stimulus.

Target: Data breach caught up to 70M customers

NEW YORK (AP) — Target says that personal information — including phone numbers and email and mailing addresses — was stolen from as many as 70 million customers in its pre-Christmas data breach. That was substantially more customers than Target had previously said were affected.

US wholesale stockpiles up 0.5 percent in November

WASHINGTON (AP) — U.S. wholesale businesses increased their stockpiles in November but at less than half the pace of October when they had jumped by the largest amount in two years.

Former Bank of Israel head gets Fed vice chair nod

WASHINGTON (AP) — President Barack Obama intends to nominate Stanley Fischer to be vice chairman of the Federal Reserve.

PCs cap worst-ever sales year with another 4Q drop

SAN FRANCISCO (AP) — A new report says personal computer sales slipped even further during the holiday shopping season, capping the worst annual decline in the PC industry's history.

Deep freeze may have cost economy about $5 billion

MINNEAPOLIS (AP) — Hunkering down at home rather than going to work, canceling thousands of flights and repairing burst pipes from the Midwest to the Southeast has its price. By one estimate, about $5 billion.

Retailers of all stripes sing holiday blues

NEW YORK (AP) — Several major retailers slashed their fiscal fourth-quarter profit forecasts this week in the latest sign that Americans didn't spend briskly during the holiday shopping season.

NATIONAL POLITICS

House to extend deadline for budget talks

WASHINGTON (AP) — Republican leaders have announced that the House will vote to pass a short-term funding bill next week to extend by three days the deadline for wrapping up a massive, $1 trillion-plus catch-all spending bill.

New jobless benefit plan advanced

WASHINGTON (AP) — Senate Majority Leader Harry Reid expressed optimism Thursday about chances for compromise on jobless legislation, and officials said talks were focused on a scaled-back program that is fully paid for and would provide up to 31 weeks of benefits for the long-term unemployed.

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