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VOL. 37 | NO. 25 | Friday, June 21, 2013

Legal immigration

Growth in health care, real estate prompts more upmarket, out-of-town law firms to establish outposts in Middle Tennessee

During the Great Recession, law firms pressed the pause button on hiring. But as the economy recovers, the market for attorneys is following suit.

Lawyers see growing demand in health care specialty

Stuck in a stagnant legal career, or just starting out with no job openings in sight? The antidote may be a switch to health care law.

Moving from big firm to small has its perks

In February, Joe Goodman said goodbye to a top-floor, corner office at a downtown law firm, and headed up Broadway to markedly less-opulent quarters overlooking the railroad gulch.

Wilmot finds gold among green

Tiffany Wilmot puts her green touch to major league, high-profile projects, and yet she’s quick to remember the sustainable needs of those who live in lower-income houses and go to school all day.

Belmont graduate built resume early

Ross Hill was a freshman at Belmont University when he jumped into the business world as something of a triple threat.

Local Weather
Today
Nashville, TN
59°F
Fair
Wind: 6 mph
Humidity: 96%

EVENTS

Meet the NELAs Finalists Networking Event. Reception and networking event honoring the finalists of the upcoming 2013 Nashville Emerging Leader Awards. The Bridge Building, 2 Victory Avenue, Nashville. Information: nashvillechamber.com, 743-3063, www.thenelas.com.

more events »

From the dramatic to the understated

‘Little Hollywood’ among this year’s Preservation Awards winners

No one seems to know exactly why, but about 15 Spanish Colonial Revival homes were built in the 1920s and 30s in a small hilly neighborhood in East Nashville that backs up to the Shelby Golf Course.

REAL ESTATE

Top Midstate commercial real estate transactions for May 2013

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

REALTY CHECK

Don’t let agent stand in way of your dream deal

“I hate your company!” A slurred voice blurted from the shadows.

NEWSMAKERS

Johnson to direct Tennessee Justice Center

Managing attorney Michele Johnson will succeed Gordon Bonnyman as executive director of the Tennessee Justice Center at the end of 2013.

BUSINESS BOOK REVIEW

Bad habits? Blame the wooly mammoth

The commute to work this morning was a bear.

GUERRILLA MARKETING

How to murder a brand

Seventeen short months after the former Apple retailer extraordinaire was tapped as CEO of J.C. Penney, Ron Johnson was fired in spectacular fashion for a 55 percent drop in stock and sales declines as high as 20 percent in a single quarter.

THE WORLDLY INVESTOR

In times like these, it might be best to get out of the way

Among attentive investors, the recent bout of market volatility has reprised fears of country, currency, economic decline and general market collapse.

SMART STUFF 4 WORK

The power of curiosity and sociability

Two organizations – the Miami-based One Laptop Per Child Association and the Cambridge, Mass.-based One Laptop Per Child Foundation – are nonprofit entities set up to oversee the creation of affordable educational devices for use in the developing world.

I SWEAR

ISO the funniest, most ridiculous personal ads

Cleaning off a shelf, I came across the 2005 issue of Uncle John’s Fast-Acting, Long-Lasting Bathroom Reader. This series, by the way, has been around for a quarter-century now, and I’m long overdue to order the 2012 issue: the Fully Loaded 25th Anniversary Bathroom Reader.

KAY'S COOKING CORNER

Most celebrations end with good food

One of America’s favorite celebrations – July 4th – will be here soon. This is always one of my favorites, not only because of what it stands for but:

NASHVILLE AREA

Man charged in scheme involving Romney tax returns

NASHVILLE (AP) — A Tennessee man was charged Wednesday in a scheme involving former Republican presidential nominee Mitt Romney's income tax returns during the 2012 campaign.

Pilot lawsuits could be shifted to single court

NASHVILLE (AP) — A dozen federal lawsuits against the truck stop chain run by Cleveland Browns owner Jimmy Haslam could be consolidated before a single judge.

AUTO INDUSTRY

Nissan adds 900 jobs to make Rogue at Tennessee plant

NASHVILLE (AP) - Nissan is adding 900 jobs to start making the Rogue crossover SUV at its Tennessee plant, the Japanese automaker announced Thursday.

COURTS

Court: Hobby Lobby can challenge health care law

DENVER (AP) — Hobby Lobby stores won't have to start paying millions of dollars in fines next week for not complying with the federal birth-control coverage mandate, under a federal appeals court ruling issued Thursday.

NATIONAL BUSINESS

2 Fed officials seek to calm financial markets

WASHINGTON (AP) — Federal Reserve officials are seeking to calm investors by assuring them the Fed won't start trimming its bond purchases until the economy has strengthened. They say any pullback in the Fed's stimulus will hinge on the economy's performance, not a calendar date.

Signed contracts to buy US homes at 6-year high

WASHINGTON (AP) — The number of people who signed contracts to buy U.S. homes jumped in May to the highest level in more than six years, suggesting people are seeking to buy before mortgage rates rise further.

US 30-year mortgage rate at 2-year high: 4.46 pct.

WASHINGTON (AP) — The average U.S. rate on a 30-year fixed mortgage surged this week to 4.46 percent, the highest in two years.

US consumer spending up 0.3 percent in May

WASHINGTON (AP) — U.S. consumers spent more in May as their income increased, encouraging signs after a slow start to the year.

US unemployment benefit applications fall to 346K

WASHINGTON (AP) — The number of Americans seeking unemployment benefits fell 9,000 to a seasonally adjusted 346,000 last week, evidence that the job market is still improving modestly, despite signs of slower growth.

Stocks gain on encouraging news on economy

NEW YORK (AP) — Better news on jobs and consumer spending pushed stocks higher Thursday.

Oil price rises above $97 as Fed fears ease

NEW YORK (AP) — The price of oil rose above $97 a barrel Thursday, as the latest U.S. economic data raised hopes for an increase in gasoline demand but suggested the Federal Reserve can wait to pull back on its current stimulus measures.

Target cuts ties with Deen; drugmaker distances

NEW YORK (AP) — Paula Deen's merchandise and media empire is fast unraveling.

PayPal looks to conquer space (payments)

NEW YORK (AP) — PayPal wants to explore space — or at least begin to figure out how payments and commerce will work beyond Earth's realm once space travel and tourism take off.

New rules aim to rid schools of junk foods

WASHINGTON (AP) — High-calorie sports drinks and candy bars will be removed from school vending machines and cafeteria lines as soon as next year, replaced with diet drinks, granola bars and other healthier items.

NATIONAL POLITICS

Senate takes 'blank slate' approach on tax reform

WASHINGTON (AP) — The top Democrat and Republican on the Senate's tax writing committee said Thursday they're starting with a "blank slate" approach to tax reform that envisions stripping the code of every single tax break as a setup to a debate over which ones to add back in.

Investigator: No sign progressives mistreated

WASHINGTON (AP) — The Treasury Department watchdog who detailed Internal Revenue Service mistreatment of tea party groups seeking tax-exempt status says he has no evidence the IRS also mishandled progressive groups' applications, even as Democrats continue criticizing him for conducting a one-sided probe.

Senate on verge of historic immigration vote

WASHINGTON (AP) — The Senate is on the cusp of approving historic immigration legislation offering citizenship to millions in the U.S. illegally and spending billions of dollars to secure the border.

Student loan deal seems on edge of falling apart

WASHINGTON (AP) — Efforts to keep interest rates on new student loans from doubling appeared to be falling apart Wednesday as the Democratic leader of the Senate declared a bipartisan proposal unacceptable.


WEDNESDAY, JUNE 26
MIDSTATE

Gallatin among TDEC's first Select cities

NASHVILLE (AP) — The Tennessee Department of Economic and Community Development says the first six Select Tennessee Certified Sites are ready for development.

Bigger posts absorb cuts as Army downsizes

LOUISVILLE, Ky. (AP) — In axing a dozen combat brigades in the face of steep spending cuts and the wind-down of two wars, the Army says it is trying to ease the sting by spreading it around.

STATEWIDE

Gov. Haslam shrugs off Pilot links to coal company

NASHVILLE (AP) - Gov. Bill Haslam says he is unconcerned that a company seeking coal mining rights on public land in Tennessee is managed by a board member of Pilot Flying J, the truck stop chain owned by the Haslam family.

Inmate convicted of killing TN senator found dead

NASHVILLE (AP) - State correctional officials say Byron Low Tax Looper, a Tennessee inmate serving a life sentence for the murder of state Sen. Tommy Burks, was found dead in his cell in the Morgan County Correctional Complex.

Parole board chairman to retire this week

NASHVILLE (AP) - When Parole Board Chairman Charles Traughber steps down this week after working with offenders for more than 40 years, he says his fondest memories will be of those he helped work their way back into society.

New study lauds Tennessee charter schools

NASHVILLE (AP) — A new study shows Tennessee is among 11 states in which charter school performance has outpaced traditional public school growth in both mathematics and reading.

AUTO INDUSTRY

VW opens regional distribution center in Tennessee

LENOIR CITY (AP) — Volkswagen has opened a $40 million facility in Tennessee to distribute parts for Passat sedans made by the German automaker's nearby assembly plant.

COURTS

Tennessee Supreme Court Justice Holder announces retirement

NASHVILLE (AP) - Tennessee Supreme Court Justice Janice M. Holder says she's retiring at the end of her current term.

Supreme Court strikes federal marriage provision

WASHINGTON (AP) — In a major victory for gay rights, the Supreme Court on Wednesday struck down a provision of a federal law denying federal benefits to married gay couples and cleared the way for the resumption of same-sex marriage in California.

Obama: Court rights a wrong; country better off

WASHINGTON (AP) — President Barack Obama hailed the Supreme Court's decision to strike down a key provision of the Defense of Marriage Act on Wednesday, declaring the court "has righted a wrong, and our country is better off for it."

Reaction mixed in Tennessee concerning gay marriage ruling

NASHVILLE (AP) - A Nashville attorney who married her wife a year ago in Washington, D.C., said she is thrilled with the U.S. Supreme Court decision on the Defense of Marriage Act.

NATIONAL BUSINESS

Slower US growth might lead Fed to delay tapering

WASHINGTON (AP) — The U.S. economy may not be strong enough for the Federal Reserve to slow its bond purchases later this year.

US economy grows at slower 1.8 pct. rate in Q1

WASHINGTON (AP) — The U.S. economy grew at an annual rate of 1.8 percent in the first three months of the year, significantly slower than first thought. The steep revision was mostly because consumers spent less than previously estimated, a sign that higher taxes could be having a deeper impact on growth.

US stocks rise for a second day; yields slip

NEW YORK (AP) — The stock market is closing higher for the second day in a row.

Oil up slightly; pump prices on the decline

NEW YORK (AP) — The price at the gas pump dropped 6 cents in the past week, good news for drivers as the July Fourth holiday approaches.

Microsoft tweaks Windows 8, blamed for PC slump

SAN FRANCISCO (AP) — Microsoft on Wednesday released a preview version of an update to Windows 8, aiming to address some of the gripes people have with the company's flagship operating system.

BP mounts offensive in spill settlement dispute

NEW ORLEANS (AP) — With an ad blitz and a tersely worded letter, BP is mounting an increasingly aggressive campaign to challenge what could be billions of dollars in settlement payouts to businesses following its 2010 oil spill in the Gulf of Mexico.

NATIONAL POLITICS

Obama opens 2nd-term drive against climate change

WASHINGTON (AP) — Appealing for courageous action "before it's too late," President Barack Obama launched a major second-term drive Tuesday to combat climate change and secure a safer planet, bypassing Congress as he sought to set a cornerstone of his legacy.

What's in Obama's plan to combat global warming

WASHINGTON (AP) — President Barack Obama's wide-ranging plan to combat global warming would for the first time put limits on carbon pollution from new and existing power plants.

Senate moves forward on immigration bill

WASHINGTON (AP) — The Senate has agreed to spend tens of billions of dollars on a dramatic increase of border security.


TUESDAY, JUNE 25
MIDSTATE

Army to cut brigades at Ft. Campbell, 9 other US bases

WASHINGTON (AP) — In a massive restructuring, the U.S. Army is slashing the number of active duty combat brigades from 45 to 33, and shifting thousands of soldiers out of bases around the country as it moves forward with a longtime plan to cut the size of the service by 80,000.

MUSIC INDUSTRY

Man arrested, charged with stalking John Rich

NASHVILLE (AP) - A Nashville man involved in a long-running dispute with country music singer John Rich has been arrested on stalking charges.

NASHVILLE AREA

Rally against gun violence set for Wednesday

NASHVILLE (AP) - Survivors of gun violence are expected to be among those participating in a Nashville rally on Wednesday to support legislation to expand background checks for gun buyers.

STATEWIDE

Haslam to put adviser Ingram on campaign payroll

NASHVILLE (AP) - Republican Gov. Bill Haslam said Tuesday he will soon start paying adviser and lobbyist Tom Ingram out of his campaign account instead of from personal funds.

Gov. Haslam creates new COO position in Cabinet

NASHVILLE (AP) - Republican Gov. Bill Haslam has hired a former IBM executive to become the state's chief operating officer, a new Cabinet-level position in his administration.

Ramsey taps social studies teacher for TCRS board

NASHVILLE (AP) - Senate Speaker Ron Ramsey has appointed a Kingsport social studies teacher to the Tennessee Consolidated Retirement System Board of Trustees.

AUTO INDUSTRY

Nissan CEO promises growth, calls pay average

YOKOHAMA, Japan (AP) — Nissan Chief Executive Carlos Ghosn promised strong sales growth to shareholders Tuesday in a turnaround from natural disasters and a boycott in China set off by a territorial dispute.

Chattanooga mall operator installing electric chargers

CHATTANOOGA (AP) — A Chattanooga-based shopping mall operator is having Tesla electric chargers installed at five of its properties.

Late auto-loan payments edged higher in 1Q

LOS ANGELES (AP) — Banks are increasingly extending auto-loan financing to borrowers with less-than-sterling credit, a trend that's contributing to a higher rate of missed loan payments.

REGION

UT: Federal sale of TVA could lead to breakup

KNOXVILLE (AP) — A new University of Tennessee report finds that if the federal government decides to go ahead with divesting the Tennessee Valley Authority, the public utility could be broken up among several private power generators in the region.

COURTS

High court voids key part of Voting Rights Act

WASHINGTON (AP) — A deeply divided Supreme Court on Tuesday halted enforcement of the federal government's most potent tool to stop voting discrimination over the past half century, saying it does not reflect racial progress.

NATIONAL BUSINESS

Market rises: less on Fed chatter, more on economy

NEW YORK (AP) — Wall Street got back to focusing on the economy instead of the Federal Reserve on Tuesday, sending stocks higher.

US consumer confidence at five-year high in June

WASHINGTON (AP) — Americans' confidence in the economy rose to its highest level in more than five years, bolstered by a more optimistic outlook for hiring.

US new home sales hit fastest pace in 5 years

WASHINGTON (AP) — Sales of new homes rose in May to the fastest pace in five years, a solid gain that added to signs of a steadily improving housing market.

US home prices rise in April by most in 7 years

WASHINGTON (AP) — U.S. home prices jumped 12.1 percent in April from a year ago, the most since March 2006. More buyers and a limited supply of available homes have lifted prices in most cities across the country, a sign of a broad-based housing recovery.

US durable goods orders up 3.6 percent in May

WASHINGTON (AP) — U.S. businesses boosted orders for long-lasting manufactured goods in May and a measure of their investment plans rose for a third straight month.

AP Survey: Bernanke comments surprised investors

WASHINGTON (AP) — Stock and bond prices are sinking because investors were caught off guard and alarmed by the Federal Reserve's signal that long-term interest rates are headed higher.

Oil higher on durable goods data; pump price down

NEW YORK (AP) — The price of oil showed a small gain Tuesday, as positive U.S. economic news provided some support while traders wait for the latest supply reports.

Study: Minority, poor students gain from charters

Charter schools benefit students from poor families, black students and Hispanic English-language learners more than their peers in other groups, a study shows.

Barnes & Noble's loss more than doubles

NEW YORK (AP) — Barnes & Noble says its loss more than doubled in the latest quarter as it continued losing money in its Nook e-book reader unit.

Walgreen fiscal 3Q profit jumps 16 percent

Walgreen says its fiscal third quarter earnings jumped 16 percent compared to last year, when a business split hurt results for the nation's largest drugstore chain.

New credit rating agency to challenge Big 3 firms

HONG KONG (AP) — Chinese credit rating company Dagong launched a new venture with Russian and U.S. partners on Tuesday to challenge the dominance of the major rating agencies that were blamed for contributing to the global financial crisis.

NATIONAL POLITICS

Senate passage of immigration bill on track

WASHINGTON (AP) — Senate passage of historic immigration legislation offering citizenship to millions looks near-certain after the bill cleared a key hurdle with votes to spare.

Obama aims to tackle pollution, climate change

WASHINGTON (AP) — President Barack Obama declared the debate over climate change and its causes obsolete Tuesday as he announced a wide-ranging plan to tackle pollution and prepare communities for global warming.


MONDAY, JUNE 24
NASHVILLE AREA

Orchestra strikes deal to save concert hall

NASHVILLE (AP) — The Nashville Symphony reached a deal with creditors Monday to avoid bankruptcy and prevent the sale of its Schermerhorn Symphony Center.

Nashville Symphony press release

The Nashville Symphony Association, a leading musical institution dedicated to achieving the highest standard for excellence in musical performance and educational programs, today announced that it has successfully resolved all outstanding issues with its bank lenders. Under the terms of a definitive agreement that was executed today, all of the Symphony’s obligations to its commercial lenders have been resolved, and the banks’ recent foreclosure notice has been withdrawn.

I-440 eastbound to be closed 10 weekends into fall

NASHVILLE (AP) - Travel on Interstate 440 in Nashville will be a weekend challenge all summer.

STATEWIDE

State won't stop bars from infusing alcohol

NASHVILLE (AP) - After warning bars and restaurants not to infuse alcohol for specialty drinks, the head of the state alcohol commission said the agency is suspending its plan to begin issuing penalties to establishments serving infused drinks.

Governor says state will privatize more; judge lifts stay

NASHVILLE (AP) - Gov. Bill Haslam says he intends to continue privatizing some state government operations.

Report: Tennessee drops in ranking, improves in areas

NASHVILLE (AP) - A recent report on the well-being of children in Tennessee shows the state has improved in key areas despite a drop in its ranking.

State organized labor group discards party labels

NASHVILLE (AP) - The Tennessee AFL-CIO Labor Council has changed its criteria for endorsing political candidates.

TWRA steps up BUI enforcement on state waterways

NASHVILLE (AP) - The enforcement effort is called Operation Dry Water. The title has a lot more to do with the boaters than the lakes.

HEALTH CARE

'Obamacare' countdown gets under way

WASHINGTON (AP) — Fewer than 100 days before uninsured Americans can sign up for coverage, Health and Human Services Secretary Kathleen Sebelius said Monday the administration is gearing up with new call centers, a revamped website — and a confab with the National Football League.

Tennessee doctors, nurses square off over care

NASHVILLE (AP) - The growing demand for medical care that is expected to accompany the full implementation of the federal health care law in January is adding urgency to a Tennessee debate over whether nurses should be allowed to provide more independent care to patients.

Tenet Healthcare buying Vanguard Health for $1.8B

DALLAS (AP) — Tenet Healthcare Corp. plans to buy fellow hospital operator Nashville-based Vanguard Health Systems Inc. for about $1.8 billion, in a deal that will expand its reach into new markets as millions of patients start to gain insurance coverage through the health care overhaul.

Promise of price cut on hospital bills is in limbo

WASHINGTON (AP) — Huge list prices charged by hospitals are drawing increased attention, but a federal law meant to limit what the most financially vulnerable patients can be billed doesn't seem to be making much difference.

AUTO INDUSTRY

VW mum on prospects for Tennessee plant expansion

CHATTANOOGA (AP) — Volkswagen calls its Chattanooga plant a global model for energy conservation and efficient production. But executives remain tightlipped about whether the facility is in line to produce a new crossover SUV for the German automaker.

Boost for cars or bust? Ethanol debate heats up

WASHINGTON (AP) — It's a dilemma for drivers: Do they choose a gasoline that's cheaper and cleaner even if, as opponents say, it could damage older cars and motorcycles?

COURTS

University of Texas: Supreme Court decision has 'no impact' on policy

AUSTIN, Texas (AP) — The U.S. Supreme Court ruling on affirmative action in higher education will have "no impact" on the University of Texas' admissions policy, school president Bill Powers said Monday, noting UT will continue to use race as a factor in some cases.

Court says no to generic drug design lawsuits

WASHINGTON (AP) — The Supreme Court says generic drug manufacturers can't be sued in state court for a drug's design defects if federal officials approved the brand-name version the generic drug copied.

Supreme Court makes it harder to sue businesses

WASHINGTON (AP) — A sharply-divided Supreme Court on Monday made it more difficult for Americans to sue businesses for discrimination and retaliation, leading a justice to call for Congress to overturn the court's actions.

3 blockbusters among Supreme Court's last cases

WASHINGTON (AP) — The Supreme Court has 11 cases, including the term's highest profile matters, to resolve before the justices take off for summer vacations, teaching assignments and international travel.

NATIONAL BUSINESS

China slump, higher bond yields weigh on markets

The stock market recovered much of a nearly swoon caused by the latest signs of distress in China's economy and rising U.S. bond yields.

Oil jumps after stocks cut into big losses

The price of oil had a sudden burst Monday after the stock market tried to put the brakes on a four-day skid.

Neiman Marcus plans to raise up to $100M in IPO

NEW YORK (AP) — Luxury retailer Neiman Marcus plans to raise up to $100 million from an initial public offering of its common stock.

Hostess: Twinkies to return to shelves July 15

NEW YORK (AP) — Hostess is betting on a sweet comeback for Twinkies when they return to shelves next month.

New Samsung tablets mimic Galaxy phones

NEW YORK (AP) — Samsung is making its tablet computers look more like its hit Galaxy phones in the hope that the success of the smartphones can boost tablet sales.

NATIONAL POLITICS

IRS chief: Inappropriate screening was broad

WASHINGTON (AP) — The Internal Revenue Service's screening of groups seeking tax-exempt status was broader and lasted longer than has been previously disclosed, the new head of the agency said Monday.

Key vote on immigration set in Senate

WASHINGTON (AP) — The Senate headed Monday for a crucial test vote on White House-backed immigration legislation offering the prize of U.S. citizenship to millions and pouring new technology and manpower into the border.


FRIDAY, JUNE 21
STATEWIDE

Tennessee ends $40M in child allowances for unemployed

NASHVILLE (AP) — The state is notifying Tennesseans drawing unemployment benefits that they will soon lose a weekly $15-per-child allowance as part of a new law signed by Republican Gov. Bill Haslam.

Scammers target Tennessee corporations

NASHVILLE (AP) — Tennessee Secretary of state Tre Hargett says a scam is targeting corporations.

Dems bemoan changes to teacher salary schedule

NASHVILLE (AP) — State lawmakers are speaking out against a proposal by the state Department of Education they believe would eventually hurt teacher salaries in Tennessee.

Fedex to buy Supaswift operations in 5 countries

MEMPHIS (AP) — FedEx Corp. said Thursday that it has agreed to buy businesses operated by its current service provider in five Southern African countries. Financial terms were not disclosed.

MIDSTATE

Lifepoint purchases Michigan hospital

ISHPEMING, Mich. (AP) — A 25-bed hospital in Michigan's Upper Peninsula has been acquired by a Tennessee company.

BankTennessee breaks ground In Middle Tennessee

Collierville-based BankTennessee is breaking ground on a new site in Lebanon later this month that will serve as the bank’s Middle Tennessee headquarters.

REGION

Kroger bets shoppers will stay loyal

NEW YORK (AP) — Kroger says its customers are doing more of their shopping at its supermarkets, helped in part by the popularity of its store brands.

COURTS

Hargett: Court ruling doesn't affect Tennessee

NASHVILLE (AP) — Tennessee Secretary of State Tre Hargett said a recent U.S. Supreme Court ruling concerning Arizona's law requiring proof of citizenship for people registering to vote does not impact Tennessee's election laws.

Court rules for Amex in dispute with merchants

WASHINGTON (AP) — The Supreme Court ruled against merchants Thursday who object to having to accept American Express debit and credit cards along with the company's iconic charge card.

AUTO INDUSTRY

Used car dealership chain CarMax 1Q profit up

RICHMOND, Va. (AP) — CarMax says higher sales drove the used car dealership chain's first-quarter profit up more than 21 percent.

Toyota spending $150M at Ala engine plant

HUNTSVILLE, Ala. (AP) — Toyota is spending $150 million on equipment as part of its expansion at an engine plant in north Alabama.

NATIONAL BUSINESS

Stocks recover on Wall Street after 2-day plunge

Traders decided that the stock market has suffered enough, at least for now.

Oil falls as monetary policy and China hit market

NEW YORK (AP) — The price of oil slid again Friday on the prospect of a tighter supply of cash and slower growth in China.

How higher rates touch consumers, firms, investors

WASHINGTON (AP) — All it took was speculation that the Federal Reserve could slow its bond buying months from now — and then a few words Wednesday from Chairman Ben Bernanke to confirm it.

Why Bernanke's clearer message landed with a thud

WASHINGTON (AP) — Wall Street investors wanted clarity from Federal Reserve Chairman Ben Bernanke.

Ex-Enron CEO Skilling resentenced to 14 years

HOUSTON (AP) — One of the country's most notorious financial scandals came to a protracted legal conclusion Friday as ex-Enron Corp. CEO Jeffrey Skilling — already in prison for his role in the once-mighty energy giant's collapse — was resentenced to 14 years as part of a court-ordered reduction and a separate agreement with prosecutors.

Starbucks hiking prices despite lower bean costs

NEW YORK (AP) — Starbucks wants a few extra pennies for that latte.

First Apple computer could fetch $500,000 or more

NEW YORK (AP) — It's the kind of electronic junk that piles up in basements and garages — an old computer motherboard with wires sticking out.

Olive Garden luring diners with cheaper prices

NEW YORK (AP) — If the free breadsticks and unlimited soup and salad aren't enough, Olive Garden is hitting the gas on other promotions to get customers through its doors.

Facebook introduces video on Instagram

NEW YORK (AP) — Facebook is adding video to its popular photo-sharing app Instagram, following in the heels of Twitter's growing video-sharing app, Vine.

Yahoo completes $1.1B deal for Tumblr

SUNNYVALE, Calif. (AP) — Yahoo has completed its $1.1 billion acquisition of online blogging forum Tumblr.

NATIONAL POLITICS

Obama to meet with privacy, civil liberties board

WASHINGTON (AP) — President Barack Obama is holding his first meeting with a privacy and civil liberties board Friday as he seeks to make good on his pledge to have a public discussion about secretive government surveillance programs.

House's rejection of farm bill leaves few options

WASHINGTON (AP) — The House's broad rejection of a massive farm bill could signal a shift in the way Congress views agriculture policy.

Lawmakers try to save student loan deal

WASHINGTON (AP) — A handful of senators struggled Thursday to hold together a bipartisan deal to keep student loan rates from doubling on July 1 while their colleagues traded political barbs with little more than a week to go before the deadline.

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