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VOL. 36 | NO. 41 | Friday, October 12, 2012
THE EDUCATION ISSUE

Everyone, including Metro, seems to want school choice. The problem: Busing

If nothing else, the push to bring Great Hearts Academy to Nashville was a conversation starter for competition and choice in the Metro school marketplace.

Schools get boost from business community

It was just a year ago that Donelson Church of Christ pastor Russ King became a PENCIL Foundation partner with nearby McGavock Elementary School, and the community is benefitting.

‘Voc-Ed’ changes to fit modern needs

In a space that is now an empty garage bay, Pearl-Cohn Entertainment Magnet High School will soon add another layer to what has already become a showcase for Metro schools.

CTE curriculum designed to get students into college programs

Veteran teacher Tim Sawyer may have the best assessment of the career and technology education programs found in most Midstate school districts.

Local Weather
Today
Nashville, TN
66°F
Fair
Wind: 3 mph
Humidity: 75%

EVENTS

Middle Tennessee Realtors Convention & Tradeshow. Realtors from throughout the Greater Nashville/Middle Tennessee region will gather at the Nashville Convention Center for the “Building a Better Future” themed event. Keynote speaker will be political and financial analyst Brian Gardner, who is featured on MSNBC, CNBC, Fox News and Reuters TV. Gardner will provide insights on the housing industry in context of the possible outcomes of the upcoming presidential election. Information: gnar.org.

more events »

REALTY CHECK

What’s that house worth? Take a guess

Determining a property’s price is one of the most daunting tasks in the real estate profession. If the property is priced too low, the seller loses money. Real money. Greenbacks. In some cases, their retirement. Conversely, if a property is priced too high, it can have the same affect and cost the seller money.

REAL ESTATE

Top Davidson County lenders for September 2012

A look at Davidson County’s top lenders based on total number of all loans, commercial and residential, as compiled by Chandler Reports.

TERRY McCORMICK

Reserve QB Smith ready to toss clipboard

Some say Rusty Smith has one of the best jobs in professional sports.

NEWSMAKERS

Staff counsel joins Cooper's office

U.S. Rep. Jim Cooper announced today that Alfred Degrafinreid II has joined his office as counsel. Degrafinreid will be based in Nashville and will advise on policy matters and coordinate community outreach for Rep. Cooper.

BUSINESS BOOK REVIEW

Little book might light up your life

You’ve got an idea that really gets you excited.

GUERRILLA MARKETING

Half measures aren’t enough in advertising

“What happens in Vegas, stays in Vegas,” or so the slogan goes, but every time I visit Sin City I’m inspired to share how exceptionally well big brands in this congested market advertise in larger-than-life ways. Standing out from the tremendous volume of advertising clutter is the name of the game in Vegas, and marketers could learn a thing or two from this go-big-or-go-home approach.

THE WORLDLY INVESTOR

The great big empty bandwagon

Year-to-date the MSCI World index has climbed 15 percent. The Dow Jones Industrial Average has climbed within 5 percent of its all-time high. The S&P 500 has returned 14.9 percent annualized over the last three years. Corporate earnings have reached a record high. Has any of this inspired investors?

SMART STUFF 4 WORK

Are you better off?

Many people are currently asking the question, “Are you better off now than you were four years ago?” More often than not, the people asking this question have some sort of political agenda in mind.

I SWEAR

A ‘shorts’ lesson on how not to avoid DUI charge

After printing those letters last week, how can I not come back this week with more stuff from the record? How can I not?

KAY'S COOKING CORNER

Hot Dog! These pretzel buns are fantastic

Last week, I recalled our trip to Chicago and how much good food we ate. I also shared with you that in the many times that we’ve visited Chicago we’d never partaken of a Chicago Dog. But this last trip, it was a given. We were just missing out on too much! So we succumbed.

STATEWIDE

Appeals Court to hear arguments today on voter ID law

NASHVILLE (AP) — Memphis officials want the state Appeals Court to strike down a new law requiring voters to show photo identification at the polls.

STATE LEGISLATURE

Legislative aide fired for unauthorized work

NASHVILLE (AP) — The legislative aide of a state senator has been fired after it was revealed he was doing political work on state time for a Democratic state Senate candidate.

NATIONAL BUSINESS

Gasoline prices finally begin to slide

NEW YORK (AP) — Gasoline prices have finally begun their seasonal slide.

Measure of future economic activity up 0.6 percent

WASHINGTON (AP) — A measure of U.S. economic activity designed to give signals about the future posted a solid gain in September, rebounding after a dip in August. But the index is still signaling weak growth.

Stocks wobble after Amex earnings, jobless claims

NEW YORK (AP) — A mixed batch of earnings and economic reports kept the stock market wavering between small gains and losses Thursday. Google plunged nearly 10 percent after releasing a weak earnings report hours ahead of schedule.

Oil below $92 amid US supplies rise, China growth

The price of oil slipped below $92 a barrel Thursday as traders weighed signs of economic recovery in the U.S. and China against an increase in U.S. crude supplies.

US rate on 30-year fixed mortgage near record low

WASHINGTON (AP) — The average U.S. rate on a 30-year fixed mortgage has fallen to near its record low set earlier this month.

Google's 3Q earnings leak early, stock plunges

NEW YORK (AP) — Google Inc.'s stock plunged suddenly on Thursday afternoon after a contractor released the search company's third-quarter earnings report early, by mistake.

US unemployment aid applications jump to 388K

WASHINGTON (AP) — Weekly applications for U.S. unemployment benefits jumped 46,000 last week to a seasonally adjusted 388,000, the highest in four months. The increase represents a rebound from the previous week's sharp drop. Both swings were largely due to technical factors.

Newsweek ending print edition, job cuts expected

NEW YORK (AP) — Newsweek plans to end its print publication after 80 years and will shift to an all-digital format aimed at online users starting in early 2013. Job cuts are expected.

Southwest posts small profit after weak September

Southwest Airlines eked out a small third-quarter profit in spite of a September slowdown, the company said on Thursday.

Average debt up again for new college grads

It's the latest snapshot of the growing burden of student debt and it's another discouraging one: Two-thirds of the national college class of 2011 finished school with loan debt, and those who borrowed walked off the graduation stage owing on average $26,600 — up about 5 percent from the class before.

Fifth Third 3Q net income falls on charges

CINCINNATI (AP) — Fifth Third Bancorp reported Thursday that its third-quarter net income fell because of one-time expenses related to debt repayment and accounting issues.

Verizon 3Q profit rises, bolstered by wireless

NEW YORK (AP) — Verizon's Share Everything plan looks like it's good for the company's shares, too.

Morgan Stanley shares rise on higher earnings

NEW YORK (AP) — Morgan Stanley shares are up in pre-market trading after the bank reported higher net income and revenue for the third quarter.


WEDNESDAY, OCTOBER 17
STATEWIDE

Big turnout forecast as Tennessee early voting begins

NASHVILLE (AP) - Early voting started Wednesday for the Nov. 6 presidential election and Tennessee election officials are anticipating another record turnout.

Ramsey appoints 2 to Technology Development Corp.

NASHVILLE (AP) — Lt. Gov. Ron Ramsey has appointed Brian Noland, president of East Tennessee State University, and Greg Nelson, senior vice president and chief technology officer of Eastman Chemical Co., to the board of directors of the Tennessee Technology Development Corp.

Sen. Alexander to receive 'Order of Rising Sun'

NASHVILLE (AP) — U.S. Sen. Lamar Alexander is receiving a decoration conferred by Japanese Emperor Akihito in recognition of his dedication to Japan-U.S. relations.

NASHVILLE AREA

Acadia Healthcare registers $200M stock sale

FRANKLIN (AP) - With its shares trading around their highest prices in 15 years, Acadia Healthcare Co. on Wednesday registered an offering of up to $200 million in stock.

Theology concerns kill deal to sell camp in NM

NASHVILLE (AP) — A deal to sell a financially troubled Southern Baptist camp in New Mexico to a Christian college in California has fallen through over concerns about theology.

NATIONAL BUSINESS

Texas landowners take a rare stand against Big Oil

SUMNER, Texas (AP) — Oil has long lived in harmony with farmland and cattle across the Texas landscape, a symbiosis nurtured by generations and built on an unspoken honor code that allowed agriculture to thrive while oil was extracted.

US housing construction jumps to 4-year high

WASHINGTON (AP) — U.S. builders started construction on homes in September at the fastest rate since July 2008 and made plans to build even more homes in the coming months. The gains show the housing recovery is strengthening and could help the economy grow.

Stocks end mostly higher after housing starts jump

A surprisingly strong housing report helped push stocks modestly higher, even as weak earnings reports from Intel and IBM weighed on the Dow Jones industrial average.

Oil prices volatile, but end where they began

The price of oil bounced around on Wednesday but finished almost where it began.

Nike severs ties to Armstrong "with great sadness"

NEW YORK (AP) — Nike has severed ties with cyclist Lance Armstrong, citing insurmountable evidence that he participated in doping and misled the company about those activities for more than a decade.

American Airlines parent loses $238M in 3Q

NEW YORK (AP) — American Airlines parent company AMR lost $238 million in the third quarter on employee severance payouts and other costs related to its bankruptcy.

Are mortgages turning a corner? Maybe, says BofA

NEW YORK (AP) — For banks, mortgage-making kept profits humming before the financial crisis, then blackened reputations and stamped out earnings when the crisis hit.

PepsiCo's profit dips amid turnaround push

NEW YORK (AP) — PepsiCo Inc.'s net income dipped 5 percent in the third quarter, as the food and beverage maker continued to pour more money into bolstering its flagship brands.


TUESDAY, OCTOBER 16
MIDSTATE

Odom's processing plant to close in Little Rock

LITTLE ROCK, Ark. (AP) — ConAgra Foods Inc. says it will close a pork-processing plant in Little Rock next year, putting more than 200 people out of work.

STATEWIDE

State lottery has record 1st quarter with $81M

NASHVILLE (AP) — The Tennessee Education Lottery Corp. has raised a record $81 million in the first quarter.

Knoxville News Sentinel ends presidential endorsements

KNOXVILLE (AP) — The Knoxville News Sentinel has ended a decades-old tradition of endorsing presidential candidates, saying it no longer has any special access to the candidates.

Tennessee government building fly flag at half-staff

NASHVILLE (AP) — The flag of the United States is flying at half-staff over Tennessee government buildings and installations.

NASHVILLE AREA

HCA announces proposed public offering of $2B senior notes

NASHVILLE(BUSINESS WIRE)— HCA Holdings, Inc. today announced that its wholly owned subsidiary, HCA Inc., proposes to offer, subject to market and other considerations, $2 billion aggregate principal amount of senior secured notes and senior unsecured notes.

Nashville will host 2013 Southern Obesity Summit

NASHVILLE (AP) — Nashville will host the seventh annual Southern Obesity Summit next fall.

Alternative fuels event in Nashville on Thursday

NASHVILLE (AP) — Alternative Fuel Vehicles will be shown off in Nashville and a speaker will talk about the global oil supply.

NATIONAL BUSINESS

Airline executives urge airport security overhaul

ABU DHABI, United Arab Emirates (AP) — Airport security needs to undergo a radical overhaul or else passengers will become further disgruntled, lines will grow and terminals will be overwhelmed, airline executives said Tuesday at a global aviation conference.

US homebuilder confidence at 6-year high

LOS ANGELES (AP) — Confidence among U.S. homebuilders remains at its highest level in six years, reflecting improved optimism over the strengthening housing market this year and a pickup in visits by prospective buyers to builders' communities.

US industrial output rises but factories stay weak

WASHINGTON (AP) — U.S. industrial production increased only modestly in September, held back by weak growth in factory output.

More expensive gas pushes US consumer prices up

WASHINGTON (AP) — Higher gas costs drove up U.S. consumer prices in September for the second straight month. But outside energy, there was little sign of inflation.

Earnings propel Dow to its biggest jump in a month

The stock market is closing with its biggest gain in a month following strong earnings from Mattel, Johnson & Johnson and other big companies.

Oil price ends higher amid mixed economic data

NEW YORK (AP) — The price of oil finished slightly higher Tuesday, following a day of wavering between small gains and losses as traders mulled mixed economic data.

Microsoft tablet Surface to start at $499

REDMOND, Wash. (AP) — Microsoft's first tablet computer, the Surface, will start at $499 when it goes on sale Oct. 26.

Coca-Cola's profit up as sales grow worldwide

NEW YORK (AP) — The Coca-Cola Co. says its net income rose 3 percent in the third quarter, as the world's biggest beverage maker expanded in in emerging markets and sold more of its sports drinks and teas at home.

Vikram Pandit steps down as Citigroup CEO

Vikram Pandit abruptly stepped down as CEO of Citigroup on Tuesday, surprising Wall Street, after steering the bank through the 2008 financial crisis and the choppy years that followed.

Goldman Sachs' earnings soar, but stock slips

NEW YORK (AP) — Goldman Sachs easily beat analysts' estimates for earnings and revenue in the third quarter.

NATIONAL POLITICS

Social Security benefits to go up by 1.7 percent

WASHINGTON (AP) — More than 56 million Social Security recipients will see their monthly payments go up by 1.7 percent next year.


MONDAY, OCTOBER 15
NASHVILLE AREA

Meningitis patient sues New England pharmacy

NASHVILLE (AP) - A Hendersonville woman sickened by fungal meningitis after receiving a steroid injection for back pain is suing the pharmacy that supplied the drug.

Pharmacy suspected in outbreak surrenders license

NASHVILLE (AP) - The Tennessee Board of Pharmacy on Monday effectively revoked the license of the pharmacy that distributed injectable steroids suspected of causing a deadly outbreak of fungal meningitis.

Meningitis cases increase by 3 since Friday

NASHVILLE (AP) — Tennessee health officials say the number of meningitis cases in the state have increased by three since Friday.

Forum focuses on civility clashes with free speech

NASHVILLE (AP) — Prior to the second presidential debate, the public is invited to discuss the tensions between free speech and civility at a forum at Lipscomb University.

Nashville project to emphasize visual art

NASHVILLE (AP) — Nashville Mayor Karl Dean says a new arts streetscape in the city's downtown will make dining outdoors and visiting art galleries on the street a more vibrant experience.

STATEWIDE

Law boon to wealthy landowners, not just farmers

BRENTWOOD (AP) - A law passed to reduce taxes for farmers is also being used to drastically cut tax bills by wealthy Tennessee residents who appear to do little farming.

MIDSTATE

TDOT getting $500K from consultant in settlement

NASHVILLE (AP) - Federal prosecutors say a Middle Tennessee business executive has given up $500,000 in assets after an embezzlement scheme involving money paid by the Tennessee Department of Transportation to acquire rights of way for highway projects.

DesJarlais denies hypocrisy for talk of abortion

NASHVILLE (AP) - A Republican congressman from Tennessee is telling supporters he's not a hypocrite for discussing abortion with a mistress more than a decade ago. But now he may also have to defend his medical license.

HEALTH CARE

2 Americans win Nobel econ prize for match-making

STOCKHOLM (AP) — Two American scholars were awarded the Nobel economics prize on Monday for studies on the match-making that takes place when doctors are coupled up with hospitals, students with schools and human organs with transplant recipients.

NATIONAL BUSINESS

US retail sales jumped 1.1 percent in September

WASHINGTON (AP) — Americans stepped up their spending at retail businesses in September, reflecting higher consumer confidence. The increase was driven by another strong month of auto sales and the release of the iPhone5.

US business stockpiles grew 0.6 percent in August

WASHINGTON (AP) — U.S. companies restocked their shelves at a solid pace in August while sales rose for a second straight month. The combination of higher stockpiles and increased sales should help to boost economic growth.

Stocks higher after retail sales improve

Stocks rose on Monday after a strong gain in retail spending suggested that consumers could be getting more confident about the economy. Bank stocks rose broadly after Citigroup delivered a strong earnings report.

Oil finishes virtually unchanged from Friday

NEW YORK (AP) — A late-day surge left oil prices virtually unchanged Monday, erasing losses of more than two percent.

Mortgage comeback? Citigroup isn't so sure

NEW YORK (AP) — Citigroup isn't as enthusiastic as its peers about a comeback in the housing market.

Gannett reports higher 3Q earnings, revenue

MCLEAN, Va. (AP) — Gannett Co. reported higher net income and revenue on Monday, helped by strong gains in political and Olympics-related advertising.

NASCAR and Fox sign 8-year extension through 2022

CHARLOTTE, N.C. (AP) — NASCAR and Fox announced an eight-year, $2.4 billion extension Monday that runs through 2022 and keeps the prestigious Daytona 500 and first third of the Sprint Cup Series on the network.

Morgan Stanley facing discrimination lawsuit

NEW YORK (AP) — Morgan Stanley is being accused of discriminating against black homeowners and violating federal civil rights laws by providing strong incentives to a subprime lender to originate mortgages that were likely to go unrepaid.

Kindle customers may get credit via settlements

NEW YORK (AP) — Amazon has alerted its Kindle customers that they are entitled to a credit on prior electronic book purchases as part of settlements between some major e-book publishers and the government.

Xbox Music to offer on-demand music free on tablet

LOS ANGELES (AP) — Buyers of tablets that run Microsoft's newest operating system, Windows 8, are in for a pleasant musical surprise: they'll be able to handpick from a selection of millions of songs and stream them for free as long as they put up with an audio ad every 15 minutes.


FRIDAY, OCTOBER 12
STATEWIDE

Monday is deadline for late income tax filing

NASHVILLE (AP) - The Internal Revenue Service reminds taxpayers who filed for an income tax filing extension the deadline is Monday.

DCS head outlines problems with abuse figures

NASHVILLE (AP) — Tennessee Children's Services Commissioner Kate O'Day says her department can account for every child reported to it in a severely abusive situation.

Appeals court to take up Tennessee voter ID case

NASHVILLE (AP) - The Tennessee Court of Appeals will hear a challenge to the new photo identification law.

NASHVILLE AREA

Plans canceled for Nashville medical trade center

NASHVILLE (AP) - A Texas-based development company has canceled plans to convert the existing Nashville Convention Center into a new medical trade center.

49 cases of fungal meningitis found in Tennessee

NASHVILLE (AP) - Tennessee health officials reported that the number of cases of rare fungal meningitis has increased by five to 49 cases.

MIDSTATE

DesJarlais endorsement vanishes from Romney site

NASHVILLE (AP) - An endorsement from a Tennessee congressman who in a recorded phone conversation urged a mistress to get an abortion has vanished from Republican presidential candidate Mitt Romney's website.

Congressman: Mistress wasn't pregnant, no abortion

NASHVILLE (AP) — A Tennessee congressman, in his first public comments since reports that he once urged a mistress to get an abortion, said Thursday that the woman turned out not to be pregnant.

AUTO INDUSTRY

Southern auto industry wary of Mexican competition

CHATTANOOGA (AP) — Southern states accustomed to luring investments away from the Midwest are casting a wary eye to competition from Mexico.

Feds investigate brake problem in Honda Pilot SUVs

DETROIT (AP) — U.S. safety officials are investigating brake problems in the Honda Pilot SUV.

Eastern Europe gives Volkswagen a sales boost

BERLIN (AP) — Strong sales in Eastern Europe helped Volkswagen AG post a 6.5 percent increase in September sales over the same month last year, despite difficulties caused by the European financial crisis.

NATIONAL BUSINESS

US wholesale prices jump 1.1 percent in September

WASHINGTON (AP) — A second month of sharp gains in gasoline costs drove wholesale prices higher in September. But outside of the surge in energy, prices were well contained.

Stock market has its worst week since June

Stocks closed out their worst week since June after investors looked over third-quarter corporate earnings reports and decided there wasn't much to get excited about.

Profits soar at 2 largest mortgage lenders

NEW YORK (AP) — Is the mortgage market really back?

Oil prices rise after US jobless claims fall

The price of oil rose slightly above $92 a barrel Friday after a big fall in U.S. unemployment benefit claims suggested some improvement in the world's biggest economy, raising expectations for increased demand for energy.

US jobless claims fall to 339K, fewest in 4½ years

WASHINGTON (AP) — The number of Americans seeking unemployment aid plummeted last week to seasonally adjusted 339,000, the lowest level in more than four years. The sharp drop, if sustained, could signal a stronger job market.

US rate on 30-year mortgage rises to 3.39 pct.

WASHINGTON (AP) — Average U.S. rates on fixed mortgages ticked up from record lows last week. Cheaper mortgages are fueling a modest housing recovery that could help the broader economy.