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VOL. 39 | NO. 27 | Friday, July 3, 2015

Building boom strains labor pool, supply chain

Contractors, subs ‘turning down work’

Middle Tennessee’s red-hot construction boom is becoming a victim of its own success. Architects, contractors and everyone in between, including Metro Codes, are up to their necks in work.

Gulch approaching 50% buildout

Nashville’s storied Gulch, originally the home of the downtown railway terminal, is approaching another milestone in its long history.

New projects bring more residents

Nashville’s bustling building market is bringing an abundance of short-term labor into Middle Tennessee, but it’s also luring in people who want to put down more permanent roots.

All-male nanny service eyeing Midstate

Mary Poppins he’s not. No flying umbrellas, no Oscar-winning musical numbers.

Local Weather
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Humidity: 93%

EVENTS

Business Studio: Marketing Starter Series - Websites & SEO. Business Studio is partnering with k2forma to present four “DIY” marketing workshops (Today, July 15, 22 and 29) as part of our Marketing Starter Series. This series is designed to empower small business owners to manage their marketing efforts and optimize their resources on their own. You’ll learn how to work smarter, not harder. Kelly Koeppel of k2forma will lead the workshops with a different industry expert as guest facilitator each week. The workshops will be hands-on with lively discussion and will build upon the previous class. The workshops are designed to be a four part series but can also be “a la carte” and attended individually. 3:30-5 p.m., Refinery Nashville, 438 Houston Street, Suite 263 Nashville. Information: nashvillechamber.com, 615 743-3060615 743-3060.

more events »

VIEW FROM THE HILL

Southern heritage defined differently across Tennessee

Tennessee’s loyalty was divided in the Civil War, and 150 years later, little is changed as the debate over Confederate symbols arises in the wake of the racist-fueled South Carolina church massacre.

REALTY CHECK

Buying a house? Here’s 12 things you must do

Anyone buying any home anywhere should have a checklist of things to do. In this area, there are several.

REAL ESTATE

$1M-plus Middle Tennessee residential real estate transactions for 2015

2015 $1 million-plus residential real estate transactions for Davidson, Williamson, Rutherford, Wilson and Sumner counties, as compiled by Chandler Reports.

Average US rate on 30-year mortgage rises to 4.08 percent

WASHINGTON (AP) — Average long-term U.S. mortgage rates rose this week, reaching high levels for the year.

NEWSMAKERS

Uniguest names Morgan chief executive officer

Uniguest, a provider of secure managed technology services, has announced the appointment of Joseph P. Morgan, Jr. as chief executive officer, effective July 6, 2015.

BEHIND THE WHEEL

2015 Kia Sedona: Longer, roomier, more comfy

Kia’s new, first-class lounge seats might just be the way to make a minivan more appealing.

BUSINESS BOOK REVIEW

This ‘Change’ worth stopping to pick up

Find a penny, pick it up. Words of advice from your grandfather, for whom a penny was worth bending over.

GUERRILLA MARKETING

How to use LinkedIn to drive brand loyalty

LinkedIn, the world’s largest social media platform specifically targeting the business community, has grown to roughly 350 million users in 2015, according to Statista.

CAREER CORNER

‘Underqualified’ for a job? That shouldn’t stop you

If you’re like most people, there was a time in life when you were underqualified for a job. This is typically the case when you apply for your first job. It can also happen when you make a big career change midstream and have to start over.

I SWEAR

One Davidson grads revels in another’s success

When NBA MVP Stephen (pronounced Steff’n) Curry was in high school, he attended a basketball camp sponsored by LeBron James. The first time LeBron saw Steph, however, was in March 2008.

KAY'S COOKING CORNER

Walking on the greener side of the fence

I’ve amped up my walking recently. I’m trying to combat the middle-age spread and couch-potato effect the long and cruel winter and the wetter than normal spring have impaled on my body.

STATEWIDE

New additions to child-abuse registry becoming public

NASHVILLE (AP) - The Tennessee Department of Children's Services has begun making publicly available the names of people who it believes have committed child abuse or neglect, despite the fact that some of them were never prosecuted for the accusations.

MUSIC INDUSTRY

Country music struggles with its Confederate flag past

NASHVILLE (AP) - Country artists are struggling to articulate their feelings about the Confederate flag's history and symbolism amid heightened debate following the recent massacre at a South Carolina church.

Randy Goodman named chairman, CEO of Sony Music Nashville

NASHVILLE (AP) — Sony Entertainment named Randy Goodman, a Nashville native and former RCA Records executive, as the new chairman and CEO of Sony Music Nashville.

AUTO INDUSTRY

2 visions emerge for getting self-driving cars on road

DETROIT (AP) — Two competing visions could determine how you first experience a driverless car.

Honda announces another recall for faulty Takata air bags

TOKYO (AP) — The recalls at Honda Motor Co. over defective Takata air bags have grown by another 4.5 million vehicles, raising the tally at the Japanese automaker to 24.5 million.

HEALTH CARE

Medicare's end-of-life counseling policy may find acceptance

WASHINGTON (AP) — Six years ago, a proposal for Medicare to cover end-of-life counseling touched off a political uproar that threatened to stall President Barack Obama's health care law in Congress. Wednesday, when Medicare finally announced it will make the change, reaction was muted.

TECHNOLOGY

NYSE: Bad software upgrade reason for outage

NEW YORK (AP) — The New York Stock Exchange says an outage of more than three hours was caused by problems associated with a software upgrade on the exchange's computers.

Deepening dependency on technology raises risk of breakdowns

Technology has become so indispensable that when it breaks down, people's lives go haywire, too.

REAL ESTATE

Average US rate on 30-year mortgage falls to 4.04 percent

WASHINGTON (AP) — Average long-term U.S. mortgage rates fell this week, retreating from high levels for the year amid economic turbulence overseas. The lower rates brought an incentive for prospective purchasers toward the end of the spring home buying season.

NATIONAL/INTERNATIONAL BUSINESS

IMF downgrades 2015 outlook for global growth to 3.3 percent

WASHINGTON (AP) — The International Monetary Fund says the U.S. economy's stumble at the start of 2015 is dragging down the world's growth prospects.

Applications for US jobless benefits rose again last week

WASHINGTON (AP) — The number of people seeking unemployment benefits rose last week to the highest level since late February. But the increase likely reflected temporary auto plant shutdowns rather than any underlying labor market weakness.

US stocks rebound after big loss; European, China markets up

NEW YORK (AP) — U.S. stocks gained Thursday, bouncing back from big losses a day earlier, as investors speculated that last-ditch talks between Greece and its creditors will produce an agreement. European shares rose sharply. Measures taken by the Chinese government to stem the rout in that nation's stock market also appeared to be working.

Greece rushing to finalize reforms and remain in euro

ATHENS, Greece (AP) — Greece's government was racing Thursday to finalize a plan of reforms for its third bailout, hoping this time the proposal will meet with approval from its European partners and stave off a potentially catastrophic exit from Europe's joint currency, the euro, within days.

Easier terms for Greece could open a can of worms in Europe

LISBON, Portugal (AP) — Eurozone governments taking a tough line on Greece's demand for debt relief and easier bailout terms fear opening a can of worms.


WEDNESDAY, JULY 8
NASHVILLE AREA

Nashville weaver chosen for exhibit in Wales

NASHVILLE (AP) — A Nashville weaver is traveling to Wales, where she is the only U.S. applicant selected in a competition of items made from Welsh wool.

Vanderbilt extends its Nike contract through 2023

NASHVILLE (AP) — One year after making Nike its exclusive apparel provider, Vanderbilt has extended its deal with the company through 2023.

STATEWIDE

Haslam appoints Bonnie Hommrich as DCS commissioner

NASHVILLE (AP) - Tennessee Gov. Bill Haslam has appointed Bonne Hommrich as commissioner of the state Department of Children's Services.

State officials warn of scam targeting business certificates

NASHVILLE (AP) — State officials are warning businesses of a scam related to misleading certification documents.

AUTO INDUSTRY

Google tests driverless cars in Austin -- with safety drivers

AUSTIN, Texas (AP) — Google Inc. has selected Texas as the latest testing site for its self-driving car project, the company announced Tuesday.

American Toyota exec released from custody in Japan

TOKYO (AP) — Toyota's highest ranking female executive until her arrest in Japan on suspicion of drug law violations was released from custody without charges Wednesday.

TECHNOLOGY

Bad day for geeks: Tech disruptions plague United, NYSE, WSJ

NEW YORK (AP) – It was a rough day for technology: The nation's biggest airline, its oldest stock exchange, and its most prominent business newspaper all suffered technology problems that upended service for parts of the day.

Microsoft cuts 7,800 jobs as phone sales flag

NEW YORK (AP) — Microsoft will cut 7,800 jobs and take a $7.6 billion impairment charge as it attempts to revive its flagging phone hardware business.

NATIONAL/INTERNATIONAL BUSINESS

Stocks close lower after 3-hour outage snarls NYSE trading

NEW YORK (AP) — U.S. stocks are closing with sizable losses after a technical outage forced the New York Stock Exchange to halt trading for half the day.

Fed officials still cautious in June about rate hikes

WASHINGTON (AP) — Federal Reserve policymakers last month saw signs that the economy was healing after its winter slump but still wanted more signs of improvement before they began raising interest rates.

United suffers 2nd major grounding in 2 months

NEW YORK (AP) — United Airlines temporarily grounded flights across the country for part of Wednesday after experiencing computer problems, causing more than 800 delays.

Greece seeks 3-year aid program, rushes to detail reforms

ATHENS, Greece (AP) — Greece requested a new three-year rescue program from its European partners on Wednesday and rushed to complete a detailed plan of economic reforms in time to avoid the country's descent into financial chaos.

Craft sake is the latest trend that's brewing in US

KITTERY, Maine (AP) — First came boutique wineries. Then microbreweries and craft distilleries. Now Japanese sake aficionados are hoping to transform the so-called "rice wine" into the next artisan alcohol-of-the-moment in the U.S.

Raid spotlights Subway pitchman's ties to ex-foundation head

ZIONSVILLE, Ind. (AP) — A raid at the home of a well-known restaurant spokesman is casting a glaring spotlight on his relationship with the former head of a foundation he set up to combat childhood obesity.

NATIONAL POLITICS

No Child Left Behind rewrites back up for debate, votes

WASHINGTON (AP) — With Republican and Democratic lawmakers calling it outdated and unworkable, Congress is set to try again to overhaul the Bush-era No Child Left Behind education law.


TUESDAY, JULY 7
COURTS

Tennessee death row inmates challenge execution method

NASHVILLE (AP) - After more than a year of delays, a trial challenging Tennessee's method for executing prisoners has begun.

NATIONAL/INTERNATIONAL BUSINESS

US stocks end higher as Greece debt talks proceed

NEW YORK (AP) — New twists in the Greek debt crisis led to a choppy day of trading on Tuesday, as a late turn left the stock market with a modest gain.

IMF: Financial risks growing at US insurers, mutual funds

WASHINGTON (AP) — The International Monetary Fund warned Tuesday that American stock prices are high and U.S. insurers and mutual funds are vulnerable to financial shocks. It also urged Congress not to weaken financial regulations passed in 2010.

Confident US employers post more job openings in May

WASHINGTON (AP) — U.S. employers advertised slightly more job openings in May, a sign of an increasingly energized economy where companies are expecting continued growth.

US trade deficit widens in May as exports struggle

WASHINGTON (AP) — The U.S. trade deficit widened slightly in May, reflecting declines in sales of American-made aircraft and machinery as exports continued to suffer from a strong dollar.

US job openings stay high, but actual hiring falters in May

WASHINGTON (AP) — Job openings stayed close to a 15-year high in May. It's a sign that companies are expecting continued economic growth, but the level of advertised jobs hasn't driven the same kind of increase in actual hiring.

Carnival aims to launch Miami to Cuba cruises in May

The world's largest cruise company could be heading to Cuba. Starting in May, Carnival Corp. plans to offer trips from Miami to the Caribbean island nation, the company announced Tuesday.

Greece restarts talks with creditors as country on edge

BRUSSELS (AP) — With their country struggling to stave off financial collapse, Greek officials restarted talks with skeptical creditors on a new rescue deal, but showed up Tuesday without the concrete proposals their European counterparts had demanded.

NATIONAL POLITICS

Senate, House look to update Bush-era education law

WASHINGTON (AP) — It's something most Democrats and Republicans in Congress can agree on — an update to the Bush-era No Child Left Behind education law is much needed and long overdue.


MONDAY, JULY 6
STATE LEGISLATURE

Lawmaker slows effort to remove bust of Confederate general

NASHVILLE (AP) - A Tennessee lawmaker says he plans to slow the effort to remove a bust of a Confederate general and Ku Klux Klan leader from the halls of the Tennessee Capitol.

NASHVILLE AREA

TSU program exposes students to cutting-edge research

NASHVILLE (AP) — More than 20 incoming Tennessee State University freshmen spent part of their summer getting exposed to real-world scientific work and cutting-edge research.

MIDSTATE

Uncle Dave Macon Days to feature Ralph Stanley

MURFREESBORO (AP) — Organizers say some of the biggest names in bluegrass will take stage at this year's Uncle Dave Macon Days Old-Time Music and Dance Festival in Murfreesboro, Tennessee.

HEALTH CARE

Q&A: As Obama health law survives, GOP split over next move

WASHINGTON (AP) — Having lost their latest war against President Barack Obama's health care overhaul, Republicans must decide how to wage battles that could fan the issue for the 2016 elections.

TECHNOLOGY

Farm use of drones to take off as feds loosen restrictions

CORDOVA, Md. (AP) — Mike Geske wants a drone. Watching a flying demonstration on Maryland's Eastern Shore, the Missouri farmer envisions using an unmanned aerial vehicle to monitor the irrigation pipes on his farm — a job he now pays three men to do.

Standoff over social media passwords breaks new legal ground

HOUSTON (AP) — A Texas man used social media to promote his gun store, posting politically charged messages that criticized the president and promoted Second Amendment rights.

NATIONAL/INTERNATIONAL BUSINESS

Growth in US services firms rises in June

WASHINGTON (AP) — U.S. service firms grew at a slightly faster pace in June, as business activity and new orders increased.

US stocks slip amid global sell-off after Greek 'no' vote

NEW YORK (AP) — Stocks in the U.S. fell broadly following drops in overseas markets as Greeks voted to reject creditor conditions for more loans, but the losses weren't as steep as many had feared.

Crude oil tumbles 8 pct, points to low gas prices this fall

NEW YORK (AP) — A slew of global economic and geopolitical factors are working to pummel the price of oil and set up U.S. drivers for very low gasoline prices later this year.

After vote win, Greece's Tsipras looks to rebuild talks

ATHENS, Greece (AP) — Despite triumphing in a popular vote against austerity, Greece on Monday faced the urgent need to heal its ties with European creditors and reach a financial rescue deal that might prevent it from falling out of the euro — possibly within days.

What's next, as Greece stumbles toward euro exit

FRANKFURT, Germany (AP) — Greece is at the last chance saloon, thirsty and out of credit. Next stop could be the badlands of euro exit.

No more 'roar' as famed trading pits come to an end

NEW YORK (AP) — Pete Meegan had every intention of going back to college, but then he got a summer job in the Chicago trading pits and fell in love with the "roar" of the floor, the excitement of "4,000 people yelling, 'Buy! Buy! Buy!'" and decided no more classroom for him.


FRIDAY, JULY 3
MUSIC INDUSTRY

USPS to offer Elvis Presley greatest hits CD with stamp

NASHVILLE (AP) — The U.S. Postal Service is offering an Elvis Presley greatest hits CD to go along with a new commemorative stamp.

MIDSTATE

State finds several problems at Rutherford County jail

MURFREESBORO (AP) — State inspectors have found several problems at Rutherford County's Adult Detention Center.

COURTS

3 Supreme Court justices maintain substantial stock holdings

WASHINGTON (AP) — New personal financial disclosures from the Supreme Court show that Chief Justice John Roberts and two other justices are maintaining significant investments in individual companies' stock.

AUTO INDUSTRY

Top US auto safety regulator says Chrysler to face sanctions

WASHINGTON (AP) — The chief U.S. auto safety regulator says Fiat Chrysler will face sanctions for violating safety laws in multiple recalls.

Ford recalls 432K cars because of software problem

NEW YORK (AP) — Ford is recalling 432,000 Focus, C-Max and Escape vehicles because of a software problem that could keep their engines running after drivers try to shut them down.

NATIONAL/INTERNATIONAL BUSINESS

US stocks lower after mixed US jobs report, Greek fears

NEW YORK (AP) — U.S. stocks are ending slightly lower as investors reacted to news that Greece's finances are deteriorating and a mixed report on the job market.

The case for Greece: when it forgave Germany's debt

LONDON (AP) — Forgiving debt, if done right, can get an economy back on its feet.

US unemployment falls to 7-year low, but wages are flat

WASHINGTON (AP) — U.S. unemployment fell to a seven-year low of 5.3 percent and employers hired at a solid pace in June, but other gauges of the job market drew a bleaker picture: A wave of people stopped looking for work, and paychecks failed to budge.

Unemployment rate for black Americans at 7-year low

WASHINGTON (AP) — Black Americans made strides in the job market in June, with their unemployment rate reaching its lowest level in seven years.

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