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VOL. 38 | NO. 17 | Friday, April 25, 2014

A Jumpstart toward success: Nashville business accelerator ranks among nation’s best

On the path to becoming an esteemed psychology professor, Brian Nelson decided to take a sharp turn to a destination much less glamorous than the halls of academia.

Accelerator programs help secure Tennessee’s image as tech hub

A collective of software and consumer Internet-based accelerator programs has placed Tennessee on the map – strikingly close to the technology holy ground of Silicon Valley.

STREET LEVEL

Mom, Pop go ape over American dream on Nolensville Road

“Gorilla” – as he’s been named for obvious reasons – is a roadside oddity to many who clatter and clunk along the congested traffic snake that is Nolensville Pike.

Local Weather
Today
Nashville, TN
59°F
Partly Cloudy
Wind: 3 mph
Humidity: 78%

EVENTS

Nashville Chamber Business After Hours. An opportunity to develop relationships, walk away with new connections and market your business to more than 200 attendees. Pre-registration required. today, 5:30-7:30 p.m., The Factory at Franklin Jamison Hall, 230 Franklin Road, Franklin. Information: nashvillechamber.com, 743-3063.

more events »

REALTY CHECK

Better find new way to ward off pesky termites

Termites are back. Swarming in their swat-evasive flurries, they can exact a debilitating toll on anything that stands in their way.

REAL ESTATE

Top Midstate commercial real estate transactions for March 2014

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

NEWSMAKERS

Lueken moves from Goldman to CapWealth

Franklin-based CapWealth Advisors has tapped former Goldman Sachs investment veteran John Lueken to lead its research efforts.

BUSINESS BOOK REVIEW

‘Brief’ message, larger impact

Fast, faster, fastest. That pretty much describes your workday. You hit the floor running every morning and, physically or mentally, you don’t stop moving until bedtime.

GUERRILLA MARKETING

Tips for selling to first-time buyers

Savvy salespeople adjust their approach when selling to first-time vs. seasoned buyers in their category – especially when selling complex products or business services.

GUEST COLUMNIST

Ignore stock ‘reboot,’ keep long-term focus

Frustrating. A word often used to describe computers, smartphones, tablets and, quite often, the stock market.

I SWEAR

More fun at the Masters: Watching golfers or listening to gallery?

AUGUSTA, Ga. – Overheard in the gallery:

KAY'S COOKING CORNER

How, why you should roast vegetables

I love roasted vegetables. The flavor that comes about when roasting, as opposed to steaming or boiling, is completely different.

AUTO INDUSTRY

Nissan leads rebound in April auto sales

DETROIT (AP) — American car buyers came out of hibernation in April to spend on pickup trucks and SUVs, fueling an auto sales rebound that analysts expect to last the rest of the year.

Ford's Fields to replace Mulally as CEO July 1

DEARBORN, Mich. (AP) — Alan Mulally, the man who transformed Ford Motor Co. from a dysfunctional money-loser to a thriving company, will retire July 1 and be replaced by Mark Fields, the current chief operating officer.

US auto sales expected to rise in April

DETROIT (AP) — U.S. consumers continued buying cars at a fast clip in April as the last snow melted from dealers' lots.

NATIONAL BUSINESS

US construction spending rises 0.2 pct in March

WASHINGTON (AP) — U.S. construction spending rose slightly in March, fueled by increases for apartments, single-family homes, factories, health care centers and office projects.

US consumer spending surged 0.9 percent in March; biggest gain in in 4½ years

WASHINGTON (AP) — U.S. consumers ramped up their spending in March at the fastest pace in 4½ years, a sign that the economy is gaining momentum after its winter slowdown.

US applications for unemployment hit 2-month high

WASHINGTON (AP) — The number of Americans applying for unemployment benefits rose last week to the highest level since February, a dose of mixed news for an economy that appears to be gaining momentum.

Yellen says Fed seeks to avoid undue regulations

WASHINGTON (AP) — As the Federal Reserve works to ensure that the nation's largest banks pose no undue threats to the financial system, it will avoid imposing unnecessary rules on small banks, Fed Chair Janet Yellen said Thursday.

Stocks are mixed amid earnings, economy reports

NEW YORK (AP) — Stocks were mixed on Thursday as investors assessed the latest round of company earnings, a survey on manufacturing and news on the U.S. job market. Satellite TV company Dish gained on reports that AT&T had approached the company about a merger.

Oil falls to around $99 a barrel on weak US growth

The price of oil was down again Thursday after falling below $100 a barrel for the first time in three weeks on slower U.S. economic growth and higher supplies.

Average US 30-year mortgage rate eases to 4.29 pct

WASHINGTON (AP) — Average U.S. rates on fixed mortgages declined slightly this week as the spring home-buying season has gotten off to a slow start.


WEDNESDAY, APRIL 30
MUSIC INDUSTRY

StubHub plans to ticket, produce its own concerts

NEW YORK (AP) - You can soon buy concert tickets from StubHub for shows produced by StubHub.

NASHVILLE AREA

US investigating sexual violence at Vanderbilt

NASHVILLE (AP) - The U.S. Department of Education's Office for Civil Rights is investigating allegations of sexual violence at Vanderbilt University, a spokesman for the federal agency told The Associated Press.

Seigenthaler honored by city of Nashville

NASHVILLE (AP) - The city of Nashville and a victims' rights group have honored John Seigenthaler, chairman emeritus of The Tennessean, for his lifelong commitment to victims' causes.

AUTO INDUSTRY

Wal-Mart brings one-stop shopping to car insurance

NEW YORK (AP) — Wal-Mart is bringing one-stop shopping to another area: auto insurance.

HEALTH CARE

WellPoint helps investors breathe easy on overhaul

Investors pushed WellPoint shares closer to their all-time high price on Wednesday after the company raised its 2014 forecast again and became the latest health insurer to ease some worry about a key health care overhaul coverage expansion.

TECHNOLOGY

FCC chairman: Internet 'slow lane' won't be tolerated

LOS ANGELES (AP) — The nation's top telecommunications regulator defended his latest proposal to protect an open Internet, warning cable companies that manipulating data traffic on their networks for profit would not be tolerated.

Facebook unveils host of mobile-friendly features

SAN FRANCISCO (AP) — Facebook says it will let users log in to apps anonymously, without sharing their identities and personal information with mobile applications they don't trust.

NATIONAL BUSINESS

Dow closes at a record high, erases loss for year

NEW YORK (AP) — The Dow Jones industrial average is closing at an all-time high.

Oil below $100; gas prices near peak, AAA says

The price of oil fell below $100 a barrel for the first time in three weeks Wednesday as reports showed U.S. economic growth stalled in the first quarter and oil supplies in the U.S. rose to record levels last week.

Fed cuts monthly bond purchases and sounds upbeat

WASHINGTON (AP) — The Federal Reserve struck an encouraging note Wednesday: It will further cut its bond purchases because the U.S. job market needs less help. And it said the economy had strengthened after all but stalling during a harsh winter.

Survey: US businesses add 220K jobs in April

WASHINGTON (AP) — U.S. businesses boosted hiring in April, according to a private survey, a sign the economy may improve after a sluggish start this year.

US economy slowed to 0.1 percent growth rate in Q1

WASHINGTON (AP) — The U.S. economy slowed drastically in the first three months of the year as a harsh winter exacted a toll on business activity. The slowdown, while worse than expected, is likely to be temporary as growth rebounds with warmer weather.

Twitter falls to lowest point since going public

NEW YORK (AP) — Shares of Twitter dropped in morning trading Wednesday to their lowest point since the company went public in November. Investor concern remains over the short messaging service's ability to keep adding users and keep existing users engaged.

Airlines offering fewer flights, fewer seats

WASHINGTON (AP) — A government watchdog confirmed Wednesday what airline passengers are finding when they try to book a flight: Service to communities of all sizes is declining, but especially to small and medium airports.

China rejects sign it may soon be No. 1 economy

BEIJING (AP) — China has rejected a World Bank report that suggests it might pass the United States this year to become the biggest economy measured by its currency's purchasing power.

NATIONAL POLITICS

Senate GOP blocks Dems' minimum wage boost

WASHINGTON (AP) — Senate Republicans blocked an election-year Democratic bill on Wednesday that would boost the federal minimum wage, handing a defeat to President Barack Obama on a vote that is sure to reverberate in this year's congressional elections.


TUESDAY, APRIL 29
TECHNOLOGY

Netflix pays Verizon for better Internet access

SAN FRANCISCO (AP) — Netflix will pay Verizon Communications to help clear up some of the congestion that has been bogging down its Internet video service.

COURTS

Court revives EPA rule on cross-state pollution

WASHINGTON (AP) — The Supreme Court on Tuesday handed the Obama administration an important victory in its effort to reduce power plant pollution that contributes to unhealthy air in neighboring states.

Haslam, Bredesen kick off constitutional campaign

NASHVILLE (AP) — Republican Gov. Bill Haslam and his Democratic predecessor, Phil Bredesen, are kicking off a campaign in support of a constitutional amendment on the way Tennessee Supreme Court justices and appeals judges are appointed and retained.

HEALTH CARE

House passes bipartisan fix to health law

WASHINGTON (AP) — The House has approved bipartisan legislation that would exempt U.S. health plans sold to expatriate workers from having to comply with requirements under the Affordable Care Act.

HCA 1Q profit climbs but misses expectations

NASHVILLE (AP) - Shares of HCA Holdings Inc. slipped Tuesday after the hospital operator reported first-quarter earnings that inched up but fell short of Wall Street's expectations.

AUTO INDUSTRY

Mercedes recalls over 284,000 cars to fix lights

DETROIT (AP) — Mercedes-Benz is recalling more than 284,000 C-Class cars in the U.S. and Canada because the rear lights can fail.

BMW recalls 156,000 cars and SUVs

DETROIT (AP) — BMW is recalling more than 156,000 cars and SUVs in the U.S. because the engines can lose power or stall.

Volkswagen profits rise by a quarter to $3.42B

BERLIN (AP) — German automaker Volkswagen is reporting a 26.8 percent rise in net profits despite a slump in earnings for its namesake brand.

Toyota moving US base from California to Texas

LOS ANGELES (AP) — Toyota delivered a surprise pink slip to California on Monday, announcing the company would move its U.S. headquarters and about 3,000 jobs from the Los Angeles suburbs to the outskirts of Dallas.

NATIONAL BUSINESS

Stocks gain on earnings; Cummins, Ameriprise rise

NEW YORK (AP) — Solid earnings from a broad swath of U.S. companies pushed the stock market higher on Tuesday.

Oil edges up as investors weigh Russia sanctions

The price of oil crept above $101 a barrel Tuesday as investors assessed the latest sanctions on Russia over the country's role in the crisis in Ukraine.

US economy likely to rebound from slow 1st quarter

WASHINGTON (AP) — Expect a dreary report Wednesday when the government issues its first estimate of how fast the U.S. economy grew in the January-March quarter. Brutal weather kept consumers and businesses in hibernation for much of the winter and likely slowed growth to a scant annual pace of just 1.1 percent.

US consumer confidence dips in April

WASHINGTON (AP) — U.S. consumer confidence fell in April over concerns about hiring and business conditions, even though many people foresee a strengthening economy in the months ahead.

Economists back increased US oil and gas exports

NEW YORK (AP) — Whether to allow more exports of U.S. oil and natural gas has become a matter of political debate in Washington. But to economists, the answer is clear: The nation would benefit.

US home price gains slow for third straight month

WASHINGTON (AP) — U.S. home price gains cooled in February from the previous year for the third month in a row, as harsh winter weather and high buying costs have slowed sales.

Advertisers back away from NBA's LA Clippers

NEW YORK (AP) — Advertisers are backing away from the Los Angeles Clippers after racist comments attributed to the NBA team's owner.


MONDAY, APRIL 28
NASHVILLE AREA

Paula Deen to cook for fans at TPAC

SAVANNAH, Ga. (AP) - Approaching a year since the Food Network pulled the plug on her TV show, Paula Deen plans to hit the road this summer to cook live for fans.

STATEWIDE

Tennessee on pace to meet 90 percent graduation rate

NASHVILLE (AP) — A new report shows Tennessee is on pace to meet a goal of a 90 percent high school graduation rate by the Class of 2020.

MIDSTATE

Community Health Systems in talks to buy Natchez hospital

NATCHEZ, Miss. (AP) - Natchez Regional Medical Center officials are in negotiations to sale the hospital to Community Health Systems.

COURTS

Tennessee same-sex marriages again ruled invalid

NASHVILLE (AP) - The marriages of three same-sex Tennessee couples who are suing the state have been invalidated, at least temporarily, by a federal appeals court panel.

High Court to hear fish tale of 3 missing groupers

WASHINGTON (AP) — Not even Supreme Court justices can resist a good fish story.

Court declines to hear Microsoft antitrust case

WASHINGTON (AP) — The Supreme Court has declined to take up software maker Novell Inc.'s appeal in a long-running antitrust case against Microsoft Corp.

Supreme Court takes on privacy in digital age

WASHINGTON (AP) — Two Supreme Court cases about police searches of cellphones without warrants present vastly different views of the ubiquitous device.

9 apply to fill upcoming criminal appeals vacancy

NASHVILLE (AP) — Nine candidates have applied to fill an upcoming vacancy on the Court of Criminal Appeals caused by the Judge Jerry Smith's decision to leave the bench in August.

Tennessee lawyers providing more free services

NASHVILLE (AP) — The Tennessee Supreme Court's Access to Justice Commission says the number of hours Tennessee attorneys are devoting to free and reduced-rate legal services for the poor has increased dramatically.

AUTO INDUSTRY

Google: Driverless cars are mastering city streets

LOS ANGELES (AP) — Google says it has turned a corner in its pursuit of a car that can drive itself.

5 things to know about Google's self-driving cars

LOS ANGELES (AP) — The director of Google's self-driving car project wrote in a blog post Monday that development of the technology has entered a new stage: trying to master driving on city streets. Many times more complex than freeways, which the cars can now reliably navigate, city streets represent a huge challenge.

TECHNOLOGY

Google, Jay Z among 2014 Webby winners

NEW YORK (AP) — Google, Jay Z and crowdfunding site Kickstarter are among the winners of this year's Webby Awards, a celebration of Internet achievement that got its start nearly two decades ago.

Microsoft warns of Internet Explorer security gap

REDMOND, Wash. (AP) — Microsoft says a security gap in Internet Explorer could allow an attacker to take complete control of a computer if the user clicks on a malicious link.

NATIONAL BUSINESS

Late push leaves US stock market mostly higher

NEW YORK (AP) — Stocks are ending a choppy day mostly higher as investors balanced enthusiasm over a possible merger in the health care industry with bad news from Bank of America.

US oil flat, Brent falls on Libya exports

The price of U.S. oil inched slightly higher Monday but global oil fell more than 1 percent on expectations of increased exports from Libya.

Fed likely to reiterate flexible policy on rates

WASHINGTON (AP) — In her first weeks as Federal Reserve chair, Janet Yellen has made one thing clear: The Fed will keep all options open in deciding when to raise interest rates from record lows.

Contracts to buy US homes up for first time since June

WASHINGTON (AP) — More Americans signed contracts to buy homes in March, the first increase since June and a sign that the housing market might pick up after a sluggish start to the year.

BofA suspends plans to hike dividend, buy shares

NEW YORK (AP) — Bank of America is shelving plans to increase its dividend and buy back more stock.

Comcast selling some cable systems to Charter

PHILADELPHIA (AP) — Comcast announced on Monday a series of transactions designed to lower its debt and help clear the way for its acquisition of Time Warner Cable, including the sale of cable systems with 1.4 million subscribers to Charter and the spinoff of an additional 2.5 million subscribers into a new company.

NATIONAL POLITICS

Minimum wage approaches likely Senate rejection

WASHINGTON (AP) — The push by President Barack Obama and Senate Democrats to raise the federal minimum wage seems ready to join the parade of issues that gets buried in Congress but — the party hopes — propels voters to the polls this November.

Congress returns to work to do the bare minimum

WASHINGTON (AP) — Congress gets back to work Monday after a two-week vacation, and it's looking like lawmakers will do what they do best: the bare minimum.


FRIDAY, APRIL 25
COURTS

Tennessee Supreme Court reinstates malpractice lawsuit

NASHVILLE (AP) — The state Supreme Court has reinstated a medical malpractice lawsuit that had been thrown out by lower courts because the plaintiff failed to file paperwork to confirm it had met notice requirements.

Google, Apple settle high-tech workers' lawsuit

SAN FRANCISCO (AP) — Google, Apple, Intel and Adobe have settled a class-action lawsuit alleging they conspired to prevent their engineers and highly sought technology workers from getting better job offers from one another.

AUTO INDUSTRY

VW lawyer: Automaker has deals in place outside TN

NASHVILLE (AP) — Volkswagen warned Tennessee officials during difficult negotiations over incentives to expand the German automaker's lone U.S. plant that the company has already secured offers to build a new SUV elsewhere.

GM profit sinks; CEO sees no recall hit to sales

DETROIT (AP) — The cost of recalling nearly 7 million cars and trucks sank General Motors' first-quarter profit, but the company's CEO said the much-publicized recalls have yet to cut into sales.

TECHNOLOGY

Retailers get creative with Pinterest

NEW YORK (AP) — Target, Nordstrom and other big chains are pinning their hopes of attracting shoppers on social media.

NATIONAL BUSINESS

US consumer confidence jumps to 9-month high

WASHINGTON (AP) — U.S. consumer confidence surged in April, approaching the highest level since the recession began in 2007 as Americans reported greater optimism about their financial situation and the economy.

A fading middle-class perk: lower mortgage rates

WASHINGTON (AP) — For three decades, the U.S. middle class enjoyed a rare financial advantage over the wealthy: lower mortgage rates.

Study: US manufacturers gaining competitiveness

WASHINGTON (AP) — U.S. manufacturers have grown more competitive over the past decade compared with factories in China, Brazil and most of the world's other major economies.

Technology, bank stocks drag US market lower

NEW YORK (AP) — Stocks mostly fell Monday afternoon, led by declines in technology and bank stocks, as investors' excitement about a potential blockbuster pharmaceutical deal was snuffed out.

Oil declines after rising on Ukraine crisis

LONDON (AP) — The price of oil declined below $101 per barrel after disappointing earnings in the U.S. on Friday, having earlier risen on worries about the tensions in Ukraine.

Ford's profit falls 39 percent in first quarter

DEARBORN, Mich. (AP) — Ford Motor Co.'s worldwide sales rose in the first quarter, propelled by growing strength in Asia and Europe. But weakness in North America dragged down the company's profit.

Manufacturers see better times for economy, jobs

NEW YORK (AP) — Companies are finally starting to spend some of the cash they've been sitting on, and that could mean a stronger economy and more jobs are on the way.

Microsoft earnings beat Street expectations

REDMOND, Wash. (AP) — Microsoft Corp. posted flat revenue and a decline in net income for the January-March quarter. Revenue gains from its Windows operating system and cloud computing services like Azure were offset by the lack of special upgrade offer revenues from a year ago.

Amazon launches grocery service for Prime members

NEW YORK (AP) — Amazon is taking aim at grocery stores and discounters like Wal-Mart with a grocery service that lets its Prime loyalty club members fill up to a 45-pound box with groceries and get it shipped for a flat rate of $5.99.

For airlines not named United, it was a great 1Q

DALLAS (AP) — Even with the turbulence of severe winter storms and stubbornly high fuel prices, many of the major airlines are cruising and their stock prices are soaring.

Average US 30-year mortgage rate up to 4.33 pct

WASHINGTON (AP) — Average U.S. rates on fixed mortgages rose this week as the spring home-buying season has gotten off to a slow start.

FDA proposes first regulations for e-cigarettes

WASHINGTON (AP) — The federal government wants to ban sales of electronic cigarettes to minors and require approval for new products and health warning labels.

Ladies Home Journal ceasing subscription service

Meredith Corp. says it is ending subscription service of "Ladies' Home Journal" due to declining advertiser interest.

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