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VOL. 36 | NO. 46 | Friday, November 16, 2012

Reaching retail’s promised land

Social media the key to Brentwood brothers getting their product into Walmart

Brentwood brothers Drew and Timothy Bourke will see their product on Walmart shelves in 2013, and all it took was $1 million, three years, an aggressively sophisticated social media plan and very thick skin.

Social media moves from secondary role to primary marketing tool

Kia Jarmon, creative director of Nashville-based MEPR Agency, says social media success stories, such as the Bourke brothers and Super Rope Cinch, are nothing new.

Binge or blessing?

There’s nothing wrong with trying something new on Thanksgiving Day, but we all know that too much of a good thing can be a problem.

Thanksgiving runs in Nashville, across the Midstate

Middle Tennessee runners will have their choice of at least six races before settling down to their annual feast. They include:

Local food’s value to be examined at Summit

Interest in locally grown food is on the rise throughout Middle Tennessee, as evidenced in packed parking lots at farmers’ markets and an ever-expanding number of community food co-ops connecting growers to residents.

Local Weather
Today
Nashville, TN
65°F
Mostly Cloudy
Wind: 7 mph
Humidity: 52%

EVENTS

Weekly Business Mastermind Luncheon. Join other small business owners and entrepreneurs 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 »

Value Place sees Midstate as growing market

The extended-stay hotel market is heating up in Middle Tennessee, and Value Place franchisees are looking to stake their claim.

REAL ESTATE

Top residential real estate transactions for October 2012

October 2012 residential real estate transactions for Davidson, Williamson, Rutherford, Wilson and Sumner counties, as compiled by Chandler Reports.

REALTY CHECK

How can you sell it if you don’t know where it is?

When investing in any area, it’s important to have a working knowledge of the terms of the sector in which the cash might flow. At times, a mispronunciation or misuse of a term could expose the buyer as an imposter or wannabe.

TERRY McCORMICK

Vols can’t afford another bad hire

It’s not a matter of if, but when for Derek Dooley.

NEWSMAKERS

Reimschisel is new director of VUMC LEND program

Tyler Reimschisel, M.D., has been appointed director of the Vanderbilt University Medical Center’s LEND Training Program, effective January 1, 2013.

GUERRILLA MARKETING

Buyer personas give sales team an easy target

To deliver a stellar performance, great actors engage in an extensive process to get inside the head of their characters – understanding their persona. Similarly, imagine if your sales force were armed with such a deep understanding of their buyers. Not only would it improve their ability to connect with prospects in a more meaningful way; it would also allow them to tailor their pitch to ensure it moves prospects to buy.

SMART STUFF 4 WORK

Who’s right, millenials or traditionalists

If you’re looking for answers on how to handle millennials, you will not find them in this article.

I SWEAR

Sunscreen, other bits of wisdom for graduates

“Wear sunscreen. If I could offer you only one tip for the future, sunscreen would be it. The long-term benefits of sunscreen have been proved by scientists, whereas the rest of my advice has no basis more reliable than my own meandering experience.” Thus wrote Mary Schmich in her Chicago Tribune column, June 1, 1997.

KAY'S COOKING CORNER

Supermarket secrets: Are you buying?

Not long ago, Dr. Oz, a program that airs weekday afternoons on ABC, did an episode titled, Five Secrets Your Supermarket Doesn’t Want You to Know. It got my attention. I’ve been shopping for many years and wanted to what I’d been missing.

NASHVILLE AREA

Final reading next month on HCA incentives

NASHVILLE (AP) — A final vote will come next month as the Metro Nashville Council considers Mayor Karl Dean's proposed incentives to hospital owner HCA.

NATIONAL BUSINESS

Measure of future US economic activity up 0.2 pct.

WASHINGTON (AP) — A measure of the U.S. economy intended to signal future activity rose only slightly last month, suggesting growth could stay weak.

Fewer seek US jobless aid as storm distorts data

WASHINGTON (AP) — The number of people seeking U.S. unemployment benefits fell sharply last week to a seasonally adjusted 410,000, though the figure was elevated for the second straight week by Superstorm Sandy.

Stocks edge up ahead of Thanksgiving break

NEW YORK (AP) — The stock market crept higher Wednesday ahead of the Thanksgiving holiday. Major market indexes got a slight lift after news broke of a cease-fire agreement between Israel and Hamas in the Gaza Strip.

Oil rises after Israel-Hamas truce is announced

NEW YORK (AP) — The price of oil rose Wednesday afternoon following the announcement of a cease-fire agreement to end a week of fighting between Israel and Hamas militants.

Facebook proposes to end voting on privacy issues

NEW YORK (AP) — Facebook is proposing to end its practice of letting users vote on changes to its privacy policies. The company says it will continue to let users comment on proposed updates.

Rate on US 30-year mortgage hits record 3.31 pct.

WASHINGTON (AP) — Average U.S. rates on fixed mortgages fell to fresh record lows this week, a trend that is boosting home sales and aiding the housing recovery.

WHY IT MATTERS: The EU budget debate

BRUSSELS (AP) — The Issue: Europe's leaders will gather in Brussels on Thursday to decide on how much the European Union, the political and economic partnership between 27 of the region's countries, will spend in the next seven years.

OB/GYNs back over-the-counter birth control pills

WASHINGTON (AP) — No prescription or doctor's exam needed: The nation's largest group of obstetricians and gynecologists says birth control pills should be sold over the counter, like condoms.


TUESDAY, NOVEMBER 20
NASHVILLE AREA

Kirkland's loses money in 3Q; CEO taking leave

NASHVILLE (AP) - Kirkland's lost money in its fiscal third quarter as sales weakened a bit. The home decor company also said Tuesday that President and CEO Robert Alderson is taking a temporary medical leave of absence.

STATEWIDE

Tobacco farmers see rebound in leaf prices

LOUISVILLE, Ky. (AP) - Burley tobacco farmers in Kentucky and Tennessee are reaping some of their best paydays since plunging into the free market, capitalizing on tight leaf supplies and a quality crop that bounced back from an early-season drought.

AUTO INDUSTRY

VW recalls about 2,500 Beetles to fix air bags

DETROIT (AP) — Volkswagen is recalling about 2,500 Beetles because the front passenger seat air bag could inflate and injure a small child.

Nissan upgrades Leaf electric car, lowers price

TOKYO (AP) — The upgraded Nissan Motor Co. Leaf electric car can travel further without recharging, comes in a cheaper model and tells drivers how much battery life is left.

GE buys 2,000 Ford plug-in hybrids for fleet

DEARBORN, Mich. (AP) — GE is buying 2,000 plug-in hybrid cars from Ford for its corporate fleet.

NATIONAL BUSINESS

US new home starts jump to fastest pace in 4 years

WASHINGTON (AP) — U.S. builders started construction last month on the most homes and apartments since July 2008, more evidence that the housing recovery is gaining momentum.

Stocks finish close to break-even

NEW YORK (AP) — Stocks are finishing the day close to break-even.

Oil falls on hopes for ceasefire in Middle East

NEW YORK (AP) — The price of oil fell sharply Tuesday on signs that Israel and Hamas are close to putting a halt to fighting that has lasted nearly a week.

Bernanke warns Congress to avoid 'fiscal cliff'

WASHINGTON (AP) — Federal Reserve Chairman Ben Bernanke on Tuesday urged Congress and the Obama administration to strike a budget deal to avert tax increases and spending cuts that could trigger a recession next year.

Unemployment falls in 75 percent of US states

WASHINGTON (AP) — An increase in hiring helped lower unemployment rates in 37 U.S. states last month, the latest indication that the job market is slowly healing.

Best Buy reports 3rd-quarter loss

MINNEAPOLIS (AP) — Best Buy Co. says it recorded a loss in the third quarter, hurt by a continued sales slump and charges related to its restructuring plan. Shares fell 6 percent in premarket trading.

HP claims fraud prompted $5B overpayment for company

NEW YORK (AP) — Hewlett-Packard Co. said on Tuesday that it's the victim of a $5-billion-plus fraud, claiming a British company it bought last year lied about its finances.

2 former Stanford executives convicted of fraud

HOUSTON (AP) — Two former associates of R. Allen Stanford have been convicted of fraud for trying to help the imprisoned Texas financier conceal a $7 billion Ponzi scheme.

NY investment manager charged with fraud schemes

NEW YORK (AP) — A New York investment manager has been charged with defrauding investors out of more than $2.7 million.

UBS rogue trader Kweku Adoboli guilty of fraud

LONDON (AP) — A rogue trader who lost $2.2 billion in bad deals at Swiss bank UBS was convicted of fraud on Tuesday.


MONDAY, NOVEMBER 19
NASHVILLE AREA

Alumna recommended to lead Tennessee State

NASHVILLE (AP) - The Tennessee Board of Regents will likely approve alumna Glenda Baskin Glover as the next president of Tennessee State University.

STATEWIDE

Haslam blames feds for delay in health care choice

NASHVILLE (AP) - A lack of information from the White House is delaying a decision about whether the state should run its own health insurance exchange under the new federal health care law, Republican Gov. Bill Haslam said Monday.

TDOT to halt lane closures during holiday

NASHVILLE (AP) — The Tennessee Department of Transportation is halting all lane closures during the Thanksgiving holiday.

Task force to announce grocer incentive program

NASHVILLE (AP) — A special task force is trying to encourage independent grocers to locate in low-income areas in Tennessee.

MIDSTATE

Murfreesboro mosque celebrates official opening

MURFREESBORO (AP) - The Islamic Center of Murfreesboro has celebrated its official opening with food and fellowship.

AUTO INDUSTRY

GM opens new plant for Chinese budget brand Baojun

HONG KONG (AP) — General Motors Co. and its local Chinese partners have launched a second plant to make cars for its local discount brand Baojun, ratcheting up the battle for customers at the fast-growing lower end of the world's biggest auto market.

NATIONAL BUSINESS

Dow gains 207 in best day since election

NEW YORK (AP) — U.S. stocks had their best day since the election. Market-watchers are citing optimism about a deal to avoid the so-called fiscal cliff of tax increases and government spending cuts.

Steady US housing recovery is boosting economy

WASHINGTON (AP) — From purchases and prices to builder sentiment and construction, the U.S. housing market is making consistent gains.

US home sales rise 2.1 percent in October

WASHINGTON (AP) — U.S. sales of previously occupied homes rose solidly in October, helped by improvement in the job market and cheap mortgages.

US homebuilder confidence at 6-year high

LOS ANGELES (AP) — Confidence among U.S. homebuilders rose this month to its highest level in six and a half years, driven by strong demand for newly built homes and growing optimism that the housing recovery will strengthen next year.

5 big banks have cut loan balances by $6.3B

LOS ANGELES (AP) — Five of the biggest U.S. banks cut struggling homeowners' mortgage balances by $6.3 billion and provided a total $26.1 billion in relief under a landmark settlement over foreclosure abuses.

Oil rises on hope of avoiding 'fiscal cliff'

NEW YORK (AP) — The price of oil is up more than 2 percent Monday on rising optimism that U.S. leaders will be able to reach a deal to avert the "fiscal cliff."

Average US credit card debt per borrower up in 3Q

LOS ANGELES (AP) — Americans cranked up their use of credit cards in the third quarter, racking up more debt than a year ago, while also being less diligent about making payments on time, an analysis of consumer-credit data shows.

Judge orders Hostess to mediate with union

WHITE PLAINS, N.Y. (AP) — Twinkies won't die that easily after all.

Twinkies likely to survive sale of Hostess

DETROIT (AP) — Twinkie lovers, relax.

Lowe's 3Q net income climbs on fewer charges

NEW YORK (AP) — Lowe's Cos.' said Monday that its third-quarter net income surged 76 percent, helped by lower costs and higher revenue, as the company's efforts to revamp its merchandise and prices appeared to be gaining traction.

NATIONAL POLITICS

Fiscal cliff negotiators are facing high hurdles

WASHINGTON (AP) — It's entirely possible that lawmakers and the White House will reach a deal that staves off an avalanche of tax increases and deep cuts in government programs before a Jan. 1 deadline. To do so, however, they'll have to resolve deep political and fiscal disagreements that have stymied them time after time despite repeated promises to overcome them.


FRIDAY, NOVEMBER 16
COURTS

State Supreme Court says will must be signed to be valid

NASHVILLE (AP) - The Tennessee Supreme Court has ruled that an unsigned will accompanied by other documents that were signed cannot be considered valid.

MIDSTATE

Tennessee GOP congressman's wife had 2 abortions

NASHVILLE (AP) — Republican U.S. Rep. Scott DesJarlais, who opposes abortion rights, testified during divorce proceedings that he and his former wife made a mutual decision for her to have two abortions, according to divorce transcripts released Thursday.

NASHVILLE AREA

Nashville car dealer waives arraignment on charge

NASHVILLE (AP) — The owner of a Kia car dealership in Nashville waived his arraignment on charges of assault and being a felon in possession of a weapon.

Funds available for energy-efficient businesses

NASHVILLE (AP) — The mayors of Nashville, Memphis, Shelby County, Knoxville and Knox County are challenging their local business community to become more energy efficient, sustainable and competitive.

Nashville Catholic nonprofits fight mandate

NASHVILLE (AP) — A group of Roman Catholic nonprofit organizations in Nashville is asking a federal judge to prevent the government from forcing them to provide contraceptive coverage to their employees.

STATEWIDE

Haslam making use of extra time on exchanges

NASHVILLE (AP) — Gov. Bill Haslam says he's taking advantage of an extended deadline the federal government has given states regarding health insurance exchanges.

Ramsey: Keep options open on Tennessee health exchange

NASHVILLE (AP) — Senate Speaker Ron Ramsey expects fellow Republican Gov. Bill Haslam to announce by Friday's deadline that Tennessee will move ahead with plans to create a state-run health insurance exchange.

Unofficial tally shows more than 2.4M votes cast

NASHVILLE (AP) — An unofficial tally of votes from the recent presidential election shows more than 2.4 million people cast their ballots in Tennessee.

October unemployment drops to 8.2 percent

NASHVILLE (AP) — Tennessee's unemployment rate decreased slightly in October.

AUTO INDUSTRY

VW: global sales up nearly 15 percent in October

BERLIN (AP) — Volkswagen AG says it delivered nearly 15 percent more vehicles worldwide in October than a year earlier as strong sales in America, China and Russia helped compensate for weakness in western Europe.

NATIONAL BUSINESS

Sandy, budget worries hold back US factory output

WASHINGTON (AP) — U.S. factory production of machinery and equipment fell sharply last month, held back by temporary disruptions caused by Superstorm Sandy and companies' fears that a federal budget crisis could trigger a recession next year.

Stocks finish higher on optimism over budget talks

NEW YORK (AP) — Optimism that President Barack Obama and Congressional leaders will reach a deal on the budget deficit and avoid the "fiscal cliff" helped stocks notch their first advance in four days.

Oil prices rise as traders eye Mideast conflict

Oil prices are higher Friday as investors monitor the fighting between Israel and militants in Gaza.

JPMorgan, Credit Suisse paying $417M in SEC case

WASHINGTON (AP) — JPMorgan Chase and Credit Suisse have agreed to pay a combined $417 million to settle federal civil charges of selling risky mortgage bonds to investors that the banks knew could fail ahead of the 2008 financial crisis.

EPA turns down states' request for ethanol waiver

WASHINGTON (AP) — The Environmental Protection Agency has denied requests from several governors to waive production requirements for corn-based ethanol.

Ikea 'regrets' use of forced labor in East Germany

BERLIN (AP) — Swedish furniture giant Ikea expressed regret Friday that it benefited from the use of forced prison labor by some of its suppliers in communist East Germany more than two decades ago.

Twinkie maker Hostess reaches the end of the line

NEW YORK (AP) — Twinkies may not last forever after all.

Defense lawyers say BP rig workers are scapegoats

NEW ORLEANS (AP) — While BP has resolved a sweeping criminal probe of its role in the massive 2010 oil spill in the Gulf of Mexico, two company employees charged in the deaths of 11 rig workers claim the Justice Department is trying to make them scapegoats for the disaster.

More American workers to pick their insurance

For some American workers, picking the right health insurance is becoming more like hunting for the perfect business suit: It takes some shopping around to find a good fit and avoid sticker shock.

Wal-Mart 3Q profit up but sees sales shortfall

NEW YORK (AP) — Wal-Mart Stores Inc. reported a 9 percent increase in net income for the third quarter, but revenue for the world's largest retailer fell below Wall Street forecasts as its low-income shoppers continue to grapple with an uncertain economy.

US rate on 30-year mortgage hits record 3.34 pct.

WASHINGTON (AP) — Average U.S. rates on fixed mortgages fell to fresh record lows this week, a trend that has helped the housing market start to recover this year.

NATIONAL POLITICS

Obama on tricky path in fiscal cliff negotiations

WASHINGTON (AP) — President Barack Obama is kicking off budget dealings with congressional leaders with new leverage from last week's big win, but he confronts a decidedly tricky path to avoiding a market-rattling "fiscal cliff" that could imperil a still-fragile economy.

States reveal their choices on Obama's health law

WASHINGTON (AP) — After two years of political battles and a Supreme Court case, many if not most states are expected to tell the federal government Friday if they're willing carry out a key part of President Barack Obama's health care overhaul.

House to vote on bill normalizing Russian trade

WASHINGTON (AP) — The House is set to remove a Cold War obstacle to trade with Russia that has stymied American exporters seeking to take advantage of Russia's newly liberalized trade practices.

Bernanke: Banks' tight standards hurting economy

WASHINGTON (AP) — Federal Reserve Chairman Ben Bernanke said Thursday that banks' overly tight lending standards may be holding back the U.S. economy by preventing creditworthy borrowers from buying homes.

Post office reports record loss of $15.9B for year

WASHINGTON (AP) — The struggling U.S. Postal Service on Thursday reported an annual loss of a record $15.9 billion and forecast more red ink in 2013, capping a tumultuous year in which it was forced to default on billions in payments to avert bankruptcy.

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