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VOL. 36 | NO. 43 | Friday, October 26, 2012

Midstate health care providers brace for cutbacks

The pressure's on, no matter who wins presidential election

President Obama and his Republican opponent, Mitt Romney, seem to agree on one thing: the American health care system is broken.

Survey: 34% believe ACA will be stalled in Senate in 2013

In July, just after the Supreme Court’s decision to uphold most provisions of the Affordable Care Act, Brentwood-based Jarrard, Phillips, Cate & Hancock asked Nashville-area hospital officials what that decision would mean to their organizations:

Would ‘Race to the Top’ survive Romney?

Tennessee received a $501 million injection of federal education funds after winning big in the first round of Race to the Top, a program implemented by the administration of President Barack Obama.

Romney’s pledge to cut PBS funds fails to ruffle feathers of most voters

As a mom who has given birth to five children in three different decades, Shari Fox has seen many a Big Bird waddle across her TV screen.

VU, Legal Aid partner to offer assistance

Many patients at Vanderbilt University’s Shade Tree Clinic are there because of chronic health conditions that are aggravated by where and how they live. In addition to medical treatment, these people usually need some kind of entry into the legal or court system to resolve those issues.

Local Weather
Today
Nashville, TN
86°F
Partly Cloudy
Wind: 8 mph
Humidity: 48%

EVENTS

Weekly Business Mastermind Luncheon. Join other small business owners and entrepreneurs each Wednesday in a peer-to-peer advisory session over lunch. Share your ideas, challenges and insights while you share a meal together. Group meets Wednesdays at 11:30 at Nero’s Grill. All business owners welcome, but advance registration required. Register: http://nashvillesuccesssummit.com/events-2/

more events »

REALTY CHECK

Medium excels in art of de-haunting houses

Quite often there are ghoulies or ghosties or things that go bump in the night, or in the day, lurking about houses around our fair city.

REAL ESTATE

Top Commercial Real Estate Transactions for September 2012

Top September 2012 commercial real estate transactions for Davidson, Williamson, Rutherford, Wilson and Sumner counties, as compiled by Chandler Reports.

TERRY McCORMICK

O’Donnell: Stick with Hasselbeck

Matt Hasselbeck can read a defense with the best of them. He proved that with his game-winning touchdown toss to Nate Washington against the Buffalo Bills.

NEWSMAKERS

Lifepoint names new VP, corporate secretary

LifePoint Hospitals has promoted Christy Green to vice president, corporate secretary. In her new role, Green will work directly with LifePoint’s board and will oversee various corporate functions.

BUSINESS BOOK REVIEW

Polaroid story follows Land’s developing genius

You saw something the other day that you wanted to remember forever.

GUERRILLA MARKETING

It’s time to leverage Pinterest for holiday sales

Virtual scrapbooking site Pinterest is a force to be reckoned with. That’s why brands nationwide will integrate Pinterest campaigns into their promotional strategies this holiday season. This 2-year-old social media phenom has already attracted roughly 20 million users, making it the third-most popular social network in the U.S.

THE WORLDLY INVESTOR

Desperately seeking dividends

The 10-year Treasury bond, which historically yields 5 percent, yields 1.75 percent today. At these levels, the risk/reward features of low yielding bonds and higher yielding stocks favors stock dividends over bond interest payments. However, with dividend yields in hot pursuit, investors have driven valuations higher for U.S. dividend payers. In fact, high yielding U.S. stocks now carry higher valuations than the market on average, far above their normal 20 percent discount. This is the highest valuation premium they have commanded since the 1950s. This does not foretell an immediate valuation collapse, but it does beg the question, are there better alternatives?

SMART STUFF 4 WORK

Resolve to resolve the unresolved

So, if you are reasonably conscientious about your health, you probably get dental checkups semi-annually and a general physical exam annually. If all goes well, you catch and treat any little problems before they become big problems. Maybe you should consider establishing a similar routine related to your co-worker relationships.

I SWEAR

Ethical implications of infield fly rule

The infield fly rule is neither a rule of law nor one of equity; it is a rule of baseball,” wrote William S. Stevens in The Common Law Origins of the Infield Fly Rule, Univ. of Penn. Law Review, vol. 123, p. 1474.

KAY'S COOKING CORNER

Cook and freeze for time-saving treats

Spring sprang, summer sizzled and now fall has fallen, and it’s feeling good. I sometimes wish we could have these beautiful autumn days year-round. Cool, crisp mornings and short-sleeve, sunny afternoons. That’s a perfect combination.

MUSIC INDUSTRY

New faces at CMAs mark change in country music

NASHVILLE (AP) — There's a sea change going on in Music City and the Country Music Association Awards are right in the middle of it.

Bill Dees, co-writer of 'Oh, Pretty Woman,' dies

MOUNTAIN HOME, Ark. (AP) — Bill Dees emerged from his days as an out-of-cash young songwriter to pen tunes recorded by Johnny Cash, Loretta Lynn and other country music greats, but the centerpiece of his career was his work with Roy Orbison, including co-writing the classic rock hit, "Oh, Pretty Woman."

STATEWIDE

Scripps Networks posts higher 3Q earnings

KNOXVILLE (AP) — Scripps Networks Interactive Inc., the operator of pay-TV networks such as Food Network and HGTV, said Thursday that its third-quarter net income grew 20 percent thanks to higher revenue from both advertising and distributor fees.

State expands hours for photo IDs for voters

NASHVILLE (AP) — The Department of Safety will open eight driver service centers Saturday to help voters who need photo identification cards before the Tuesday general election.

Education data shows graduation rate improvement

NASHVILLE (AP) — Tennessee's high school graduation rate is up and assessment tests taken by elementary and middle school students improved last year, according to data released Thursday by the Education Department.

MIDSTATE

Murfreesboro mosque seeks cemetery permit

MURFREESBORO (AP) - A new Murfreesboro mosque that faced vocal opposition from some community members is requesting a permit for a cemetery.

Kurita gives GOP candidate for her old seat $5K

NASHVILLE (AP) — Former Democratic state Sen. Rosalind Kurita of Clarksville has written a $5,000 check to the Republican candidate seeking to win her old seat.

AUTO INDUSTRY

Most automakers report sales jumps despite storm

DETROIT (AP) — Most major automakers reported sales increases in October despite losing at least three days of business to the punishing rain and wind from Superstorm Sandy.

Ford's Mark Fields promoted, could become CEO

DETROIT (AP) — Ford's leaders have watched Mark Fields, a brash Harvard MBA, turn the company's North American business into a profit machine. Now the CEO job is his to lose.

NATIONAL BUSINESS

Consumers give US economy a lift before election

WASHINGTON (AP) — A flurry of reports Thursday showed that U.S. consumers are growing more confident and spending more, boosting a still-weak economy just five days before the presidential election.

US consumer confidence at highest since Feb. 2008

WASHINGTON (AP) — Americans' confidence in the economy surged last month to the highest level in nearly five years, as many were encouraged by an improving job market.

Retailers' gains in October could hurt holidays

NEW YORK (AP) — Americans spent briskly in October before Superstorm Sandy hit the Northeast at the tail-end of the month. But the question is whether they're still willing to buy an iPhone for Christmas if they plunked down hundreds on a generator for Sandy?

ADP says US businesses added 158,000 jobs in Oct.

Payroll provider ADP said on Thursday that businesses added 158,000 jobs in October, picking up the pace set in the previous month.

US builders boost September spending 0.6 percent

WASHINGTON (AP) — U.S. builders spent more on home construction in September, a gain that helped offset weakness in nonresidential building and government projects.

Weekly US jobless aid applications fall to 363K

WASHINGTON (AP) — Applications for U.S. unemployment benefits dropped 9,000 to a seasonally adjusted 363,000 last week, a level consistent with modest hiring.

US worker productivity grew 1.9 pct. rate in Q3

WASHINGTON (AP) — U.S. worker productivity grew at the same modest rate this summer as in spring, a sign that companies may be nearing the limits on how much output they can get from their employees.

Stocks rally as US economic picture brightens

Stocks are closing sharply higher on Wall Street after a series of encouraging economic reports, including a surge in consumer confidence.

Oil price up as US refineries restart after storm

The restart of refineries in the storm-hit northeastern United States gave a small boost to crude oil prices on Thursday.

Average US rate on 30-year loan dips to 3.39 pct.

WASHINGTON (AP) — The average U.S. rate on a 30-year fixed mortgage slipped this week and stayed near its record low, a trend that's helped boost home sales and refinancing.

Storm-crippled NYC subway creaks back into service

NEW YORK (AP) — Subways started running again in much of New York City on Thursday for the first time since Superstorm Sandy, but traffic at bridges backed up for miles, long lines formed at gas stations, and tempers flared as commuters waited for buses.

NYC's 3 airports all due to open after Sandy

New York's three major airports will be operating under reduced schedules on Thursday as flight services start returning to normal following Superstorm Sandy.

Exxon's 3Q profit falls 7 percent to $9.57 billion

IRVING, Texas (AP) — Exxon Mobil says its profit fell 7 percent in the third quarter as it produced less oil and gas and fetched lower prices.

Costco key revenue figure up 7 pct in October

ISSAQUAH, Wash. (AP) — Costco's revenue at stores open at least a year rose 7 percent in October, topping analysts' expectations.

Target October sales figure rises

MINNEAPOLIS (AP) — Discount retailer Target Corp. says a key revenue measure rose 2.4 percent in October as customers spent more on food and health and beauty items, but the number of people buying items was even with a year ago.


WEDNESDAY, OCTOBER 31
MUSIC INDUSTRY

Country legend Tom T. Hall honored as BMI Icon

NASHVILLE (AP) — Tom T. Hall is a bit of a loner, so he found the red carpet at the BMI Country Awards a little overwhelming Tuesday night.

Hosts Underwood, Paisley ready for 5th CMA Awards

NASHVILLE (AP) — Spend a lot of time with a guy over five years and you get to know him pretty well. In the time Carrie Underwood has spent co-hosting the Country Music Association Awards with Brad Paisley, she's learned there's nothing fake about the man with the white hat.

McGraw sets Feb. release for 1st post-Curb album

NASHVILLE (AP) — Tim McGraw has announced a Feb. 5 release date for his first album since leaving Curb Records.

MIDSTATE

Tennessee Conservative Union chairman calls for DesJarlais to resign

NASHVILLE (AP) — The chairman of the Tennessee Conservative Union on Tuesday called for Republican U.S. Rep. Scott DesJarlais to resign after reports including that the congressman once urged a mistress to terminate a pregnancy.

STATEWIDE

Thursday is last day for early voting in Tennessee

NASHVILLE (AP) - Tennessee election officials are hoping to break another record when the early voting period ends on Thursday, but they acknowledge remnants of superstorm Sandy could affect voter turnout in the northeastern part of the state.

AUTO INDUSTRY

GM shares spike on strength in South America

DETROIT (AP) — Shares of General Motors surged Wednesday after the company announced big job cuts in Europe and reported third-quarter earnings that were far better than Wall Street expected.

NATIONAL BUSINESS

Netflix stock soars on news of Carl Icahn's stake

SAN FRANCISCO (AP) — Billionaire investor Carl Icahn has seized on Netflix's recent troubles to build a 10 percent stake in the Internet video service.

A mixed close for stocks following 2-day shutdown

NEW YORK (AP) — Stocks are closing mixed on Wall Street after the market reopened following a two-day shutdown caused by Superstorm Sandy.

Facebook stock slides after lock-up expires

NEW YORK (AP) — Facebook's stock price is falling now that employees are able start selling restricted stock in the company.

Gas prices fall as Northeast travel restricted

Gasoline prices fell Wednesday as travel in the storm-battered Northeast remained restricted by felled trees, power outages and flood damage.

Airports and stock exchange reopen; NJ devastated

NEW YORK (AP) — Two major airports reopened and the floor of the New York Stock Exchange came back to life Wednesday, while across the river in New Jersey, National Guardsmen rushed to rescue flood victims and fires still raged two days after Superstorm Sandy.

Sandy shuts down Northeast air travel

Superstorm Sandy grounded more than 18,000 flights across the Northeast and the globe, and it will take days before travel gets back to normal.

UBS chief says other banks might need to downsize

GENEVA (AP) — A day after UBS AG announced it was cutting up to 10,000 jobs by 2015, the Swiss banking giant's chairman Axel Weber warned Wednesday that many of its global rivals may have to follow suit.


TUESDAY, OCTOBER 30
NASHVILLE AREA

Titans' Locker launches financial football game

NASHVILLE (AP) - Tennessee Titans quarterback Jake Locker and the Tennessee treasurer will be teaching Nashville high school kids a new educational video game and curriculum called Financial Football.

AUTO INDUSTRY

Ford earns $1.63 billion in 3Q

DEARBORN, Mich. (AP) — Ford's third-quarter profit eased 1 percent to $1.63 billion as European losses swamped record North American profits.

Fiat's investment plans slow Chrysler ownership

ROME (AP) — Italian automaker Fiat's plan to increase capital investments in Italy will slow the completion of its acquisition of Chrysler.

Fiat plans to launch 17 new cars in Europe by 2016

ROME (AP) — Fiat CEO Sergio Marchionne says he will ramp up production of the Maserati, Alfa Romeo and Jeep brands in Europe by 2016 to put idled Italian plants back to work.

Mitsubishi Motors profit improves on cost cuts

TOKYO (AP) — Mitsubishi Motor Corp.'s fiscal second-quarter net profit improved 60 percent to 10.1 billion yen ($126 million) on cost cuts, but the Japanese automaker lowered its projection Tuesday for China, where a bitter territorial dispute is sending sales plunging.

NATIONAL BUSINESS

Storm's cost may hit $50B; rebuilding to ease blow

WASHINGTON (AP) — Superstorm Sandy will end up causing about $20 billion in property damages and $10 billion to $30 billion more in lost business, according to IHS Global Insight, a forecasting firm.

Sandy takes out 25 pct of cell towers

NEW YORK (AP) — Hurricane Sandy knocked out a quarter of the cell towers in an area spreading across ten states, and the situation could get worse, federal regulators said Tuesday.

Northeast air travel resumes as JFK, Newark reopen

Air travelers stranded in the Northeast are a little closer to getting home.

New York Stock Exchange will reopen Wednesday

NEW YORK (AP) — The New York Stock Exchange will reopen for regular trading Wednesday after being shut down for two days because of Hurricane Sandy.

Gas pump prices fall in wake of Sandy

NEW YORK (AP) — The price of gasoline fell Tuesday after Hurricane Sandy left a wide swath of flooding, power outages and disrupted transportation in the eastern U.S.

Flooded data center takes down websites

NEW YORK (AP) — Water welling into southern Manhattan drenched one of the world's densest communications nodes, taking out popular websites and forcing carriers to reroute international traffic.

US home prices rise in August at faster pace

WASHINGTON (AP) — Home prices rose in August in nearly all U.S. cities, and many of the markets hit hardest during the crisis are starting to show sustained gains. The increases are the latest evidence of a steady housing recovery.

US Steel 3Q profit doubles despite revenue drop

U.S Steel doubled its third-quarter net income as a tax benefit helped balance pressure from price decreases and a challenging global economy.

Boeing to sell 35 new 737 airplanes to Russia

NEW YORK (AP) — Boeing is selling 35 of its redesigned 737 aircraft to a Russian state-run leasing company in a deal that would be worth $3 billion, if sold at current list prices.

BP raises dividend as Q3 profit swells 5 percent

LONDON (AP) — Oil company BP is rewarding long-suffering shareholders with a substantial dividend increase just days after it sold a stake in a Russian joint venture for billions of dollars.

Conference Board delays Consumer Confidence Index

The Conference Board is delaying the release of its Consumer Confidence Index for October until Thursday because of Superstorm Sandy.

Swiss bank UBS to cut as many as 10,000 jobs

GENEVA (AP) — Swiss banking giant UBS AG is to cut as many as 10,000 employees, or some 15 percent of its staff, to drastically shrink its ailing investment bank.


MONDAY, OCTOBER 29
STATEWIDE

Election officials report nearly 1M early voters

NASHVILLE (AP) - Nearly a million Tennesseans have cast ballots during early voting.

MUSIC INDUSTRY

Taylor Swift to co-host Grammy nominations TV show

NASHVILLE (AP) - Taylor Swift will co-host the Grammy nominations television special.

MIDSTATE

Haslam appoints Keith Siskin to 16th Circuit

NASHVILLE (AP) - Gov. Bill Haslam has appointed Keith Siskin to the 16th Judicial District Circuit Court, which serves Rutherford and Cannon counties.

PAC buys $180K in anti-DesJarlais ads

NASHVILLE (AP) — A national political action committee on Monday launched $180,000 worth of television ads against Republican Rep. Scott DesJarlais, who is anti-abortion rights, for reports that he once urged a mistress to terminate a pregnancy.

HEALTH CARE

Insurers nervous over prospect of Romney victory

WASHINGTON (AP) — You'd think health insurance CEOs would be chilling the bubbly with Republican Mitt Romney's improved election prospects, but instead they're in a quandary.

AUTO INDUSTRY

Toyota on top in latest Consumer Reports survey

DETROIT (AP) — And the winner is ... Japan.

Chrysler 3Q profit nearly doubles

DETROIT (AP) — Strong U.S. sales powered Chrysler to a healthy third-quarter profit.

NATIONAL BUSINESS

US consumer spending rose 0.8 percent in September

WASHINGTON (AP) — Americans increased their spending in September at twice the rate that their income grew, a sign of confidence in the economy. Still, consumers made up the difference by saving less for a third straight month, a troubling trend.

Storm will keep financial markets closed Tuesday

NEW YORK (AP) — Stock trading will be closed in the U.S. for a second day Tuesday as Hurricane Sandy bears down on the East Coast. Bond trading will also be closed.

Hurricane Sandy grounds air travel in Northeast

NEW YORK (AP) — Hurricane Sandy brought air travel to a halt in the Northeast Monday, grounding thousands of flights and upending travel plans across the globe. Planes and passengers are likely to remain stranded Tuesday and it could be a number of days before airport operations are back to normal.

Sandy unlikely to damage US economy, analysts say

WASHINGTON (AP) — Airlines canceled thousands of flights and stranded travelers. Insurers braced for damages of up to $5 billion. Retailers expected shrunken sales.

Refineries scale back as storm moves in; oil falls

The biggest refineries in the Northeast shut down or throttled back sharply on Monday as Hurricane Sandy moved in. Oil prices fell as it appeared the massive storm will reduce demand by keeping drivers off the road and shutting businesses.

Pearson, Bertelsmann confirm publishing tie-up

LONDON (AP) — Two of the world's biggest publishing houses are to link up in a deal that will bring the writings of classics like George Orwell's "1984" and this year's literary phenomenon "Fifty Shades of Grey" under one umbrella.

High court hears closely watched copyright case

WASHINGTON (AP) — Costco, eBay, Google and the nation's top art museums are backing a Thai graduate student against book publishers, the movie and music industries and other manufacturers in a Supreme Court battle over copyright protections with important implications for consumers and multibillion dollar annual sales online and in discount stores.


FRIDAY, OCTOBER 26
NASHVILLE AREA

Occupy Nashville members sue over new plaza rules

NASHVILLE (AP) - Members of Occupy Nashville have filed a lawsuit in federal court challenging new rules governing the use of the War Memorial Plaza next to the capitol.

STATEWIDE

Death toll from meningitis rises to 10 in Tennessee

NASHVILLE (AP) — Another person has died in Tennessee from a fungal meningitis outbreak caused by contaminated steroid injections for back pain.

Early voting tops 731K in Tennessee

NASHVILLE (AP) — State election officials say Tennessee voters are continuing to make a strong turnout for early voting in the Nov. 6 election.

Tenn. appeals voter ID ruling over library card

NASHVILLE (AP) — Tennessee election officials have filed an appeal with the state Supreme Court seeking to overturn a ruling that enabled voters to use photo identification issued by the Memphis Public library at the polls.

Forrester won't run again to head Tenn. Democrats

NASHVILLE (AP) - Embattled Tennessee Democratic Party Chairman Chip Forrester has decided not to seek a third term in charge of the state party, a spokesman confirmed Thursday.

MIDSTATE

Source: DesJarlais could face GOP challenge next

NASHVILLE (AP) — Even if U.S. Rep. Scott DesJarlais wins re-election after the revelation that he once urged his mistress to get an abortion, he could soon face a challenge from a fellow Republican.

Fired workers file federal harassment suit

MURFREESBORO (AP) - Two fired Rutherford County property assessor employees have filed a federal lawsuit against their former boss claiming sex discrimination and sexual harassment.

AUTO INDUSTRY

Toyota widens global sales lead over GM in 3Q

DETROIT (AP) — Toyota has widened its global sales lead over General Motors because its factories have recovered from last year's earthquake.

NATIONAL BUSINESS

Citigroup is fined $2 million over Facebook IPO

BOSTON (AP) — The top securities regulator in Massachusetts has fined Citigroup $2 million for failing to supervise analysts who improperly disclosed confidential information about Facebook's initial public offering.

US economic growth improves to 2 pct. rate in Q3

WASHINGTON (AP) — The U.S. economy grew at a slightly faster 2 percent annual rate from July through September, buoyed by more spending by consumers and the federal government.

Weak earnings reports weigh on stocks

Stocks closed mostly lower Friday after investors found little to like in weak corporate earnings reports and news of only tepid growth in the U.S. economy in the third quarter.

Oil falls as massive storm aims for East Coast

The price of oil is down slightly as the market eyes a massive storm heading for the East Coast with the potential to force refinery closures and delays in import deliveries.

Feds probe Taurus, Sable for stuck throttles

DETROIT (AP) — A U.S. government safety agency has opened an investigation into complaints that the throttles can stick on some older-model Ford Taurus and Mercury Sable sedans.

Comcast 3Q profit, sales top Street on upbeat subs

PHILADELPHIA (AP) — Cable giant Comcast Corp., the nation's largest provider of TV and high-speed Internet services, more than doubled its net income in the third quarter, helped by fewer cancelations of video service than expected and by breaking even on the expensive-to-produce London Olympics on NBC.

Apple stock falls under $600 after holiday warning

NEW YORK (AP) — Apple's stock fell below $600 on Friday for the first time in three months, after the consumer electronics behemoth warned that costs of making new products will cut into profits in the holiday quarter.

New York Times 3Q net income drops 85 percent

NEW YORK (AP) — The New York Times Co. reported a sharp decline in its third-quarter net income on Thursday and said revenue fell below analysts' expectations amid weakness in print and digital advertising.

McClatchy posts lower 3Q earnings, revenue

SACRAMENTO, Calif. (AP) — The McClatchy Co. reported lower net income in the third quarter, hurt by declining circulation and ad revenue at its newspapers.

Sales contracts to buy US homes rose last month

WASHINGTON (AP) — The number of Americans who signed contracts to buy homes rose only slightly, suggesting sales may level off in the coming months after solid gains in the past year.

US rate on 30-year mortgage rises to 3.41 pct.

WASHINGTON (AP) — Average U.S. mortgage rates rose only slightly this week and continued to hover near record lows, a trend that has helped boost home sales and refinancing.

Where do I click, again? A guide to Windows 8

NEW YORK (AP) — With the launch of Windows 8, buyers are about to discover a computing experience unlike anything they've seen before. Here's a guide to getting past some of the hurdles.

Windows 8 event a subdued affair, theatrics absent

NEW YORK (AP) — For a company that has launched products with Ringo Starr, Paul McCartney and Jay Leno — and has even paid to light up the Empire State Building in its signature colors — Microsoft's unveiling of Windows 8 on Thursday was a subdued affair.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 0 0 0
MORTGAGES 0 0 0
FORECLOSURE NOTICES 0 0 0
BUILDING PERMITS 0 0 0
BANKRUPTCIES 0 0 0
BUSINESS LICENSES 0 0 0
UTILITY CONNECTIONS 0 0 0
MARRIAGE LICENSES 0 0 0