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VOL. 36 | NO. 29 | Friday, July 20, 2012

Business Class

Pilots turn passion for flying into jobs they love

The man who had spent his life in politics or its shadows – as a Metro Councilman, a lobbyist and consultant – can hardly believe his good fortune in finding a career path for the rest of his life.

Hill’s passion: Old planes, training young pilots

Bob Hill turns his vocation into his avocation when he hops into the cockpit of a B-17 bomber at the end of his work week as FAA Safety Team program manager at the Nashville Flight Standards District Office near the old airport terminal.

REALTY CHECK

Help! Help! Is there a doctor for the house?

Several years ago, OK maybe 40, an air-freshening product ran an advertising campaign offering a cure for “Houseatosis,” referring to a house with halitosis, or bad breath.

Local Weather
Today
Nashville, TN
39°F
Cloudy
Wind: 16 mph
Humidity: 60%

EVENTS

Nashville Emerging Leader Awards. The sixth annual NELAs will recognize young professionals in 15 industry classifications who are excelling in their careers and making a difference in the Nashville community. The ceremony will be at tonight, 5-7:30 p.m., Lipscomb University in the Collins Alumni Auditorium. After-party will be at Mere Bulles, 5201 Maryland Way, Brentwood. Information: www.ypnashville.org/Events/Nashville_Emerging_Leader_Awards.aspx

more events »

REAL ESTATE

Top residential real estate transactions for June, 2012

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

NEWSMAKERS

Belcourt Theatre names new executive director

The Belcourt Theatre board of directors has promoted managing director Stephanie Silverman to executive director. In addition, the board elected new officers for its 2012-2013 term:

GUERRILLA MARKETING

Adapt or die

It’s an undeniable truth in business. If you fail to adapt to the changing marketplace or the changing needs of your customer, your business will die. It can be tough to face this reality and venture into the unknown once you get comfortable with tried and true strategies that used to work without fail.

THE WORLDLY INVESTOR

Returns equal reality minus expectations

At the beginning of the year, expectations ran high. Some economists forecasted U.S. GDP growth rates above 4 percent, European credit spreads indicated crisis containment, and China’s economy appeared to be on a government-conceived glide to slower, non-inflationary growth. As expectations ran high, the first quarter provided stock market investors with the best index returns in 14 years.

BUSINESS BOOK REVIEW

Hard to get ahead without Knowing Your Value

Today was one of those good thing/bad thing kinds of days.

SMART STUFF 4 WORK

Look for keystone habits

I recently bought a hybrid car. After a few weeks of driving the car, I suddenly became aware that my driving habits were changing significantly. You see, the car has a little indicator on the dashboard that constantly monitors the gas mileage. If I drive the car gently, I can get well over 40 miles per gallon in town on the model that I bought. I’m not sure if this is true for everyone, but in my case I find myself playing a little game with my car. I drive it as gently as possible in an attempt to increase the gas mileage.

I SWEAR

Learning to control our inner tigers

Two tigers – an adult and a child – are standing in the den of the older one. At hand is a recently slaughtered gazelle. The larger tiger digs in and gestures to his companion to do likewise. In Joseph Campbell’s words, “The little one backs off” and says, “I’m a vegetarian.”

KAY'S COOKING CORNER

S’mores and summer go hand in hand

My niece, Becca Bona, sent me a recipe recently for Peanut Butter S’mores Turnovers. She and her sister are always cooking up something. Well, this recipe perked up my “cooking senses,” and for good reason – it is so delicious I had to share with you. It is a great twist on an old classic!

MIDSTATE

Ex-rescue squad chief, treasurer arrested

SMYRNA (AP) — Smyrna police have arrested the former chief and former treasurer of the Smyrna Rescue Squad for theft of funds from the squad's bank accounts.

AUTO INDUSTRY

Volkswagen Q2 earns jump 18 percent

FRANKFURT, Germany (AP) — Stronger demand from North America and the world's developing markets helped German automaker Volkswagen record an 18 percent jump in second-quarter earnings.

NATIONAL BUSINESS

US rate on 30-year mortgage: 3.49 pct., new record

WASHINGTON (AP) — The average rate on the 30-year fixed mortgage fell again, this time dropping below 3.50 percent for the first time on records dating back 60 years.

US jobless claims drop by 35,000 to 353,000

WASHINGTON (AP) — The number of Americans applying for unemployment benefits dropped by 35,000 last week, a figure that may have been distorted by seasonal factors.

Stocks soar after ECB vows to protect the euro

NEW YORK (AP) — Stocks soared in the U.S. and Europe Thursday after the European Central Bank president vowed to "do whatever it takes" to keep the continent's monetary union intact.

Oil near $89 as ECB's Draghi vows to save eurozone

Oil prices rose Thursday after the president of the European Central Bank vowed to save the eurozone.

WGBH Boston acquires Public Radio International

BOSTON (AP) — Public Radio International says it has been acquired by Boston media station WGBH.

US durable goods orders fall outside aircraft

WASHINGTON (AP) — Companies cut back on orders for long-lasting U.S. factory goods last month, outside volatile aircraft and other transportation equipment. The decline suggests businesses are losing confidence in the economy.

Exxon profit jumps 49 pct, helped by asset sales

NEW YORK (AP) — A jump in Exxon Mobil's net income couldn't mask broader problems for America's largest oil company.

Coke, Pepsi racing for a new diet soda sweet spot

NEW YORK (AP) — Coke and Pepsi are chasing after the sweet spot: a soda with no calories, no artificial sweeteners and no funny aftertaste.

United Continental profit down 37 percent

The parent company of United Airlines said its second-quarter net income dropped 37 percent as it continued to hit obstacles in its integration of Continental.

Sprint loss widens, but revenue beats estimates

NEW YORK (AP) — Sprint Nextel's loss widened in the second quarter as the country's third-largest wireless carrier wrote down the value of its moribund Nextel network.

NATIONAL POLITICS

House GOP set to pass latest anti-regulation bill

WASHINGTON (AP) — House Republicans on Thursday were in line to pass legislation that would freeze major government regulations until the unemployment rate, now at 8.2 percent, drops to 6 percent or below. The latest GOP attempt to rein in Obama administration's rulemaking, like previous anti-regulation bills, is virtually certain to die in the Democratic-controlled Senate.

Government, insurers to tackle health care fraud

WASHINGTON (AP) — The government is stepping up efforts to tackle health care fraud by scrutinizing claims data from insurers and federal programs in hopes of weeding out bogus billing.

Senate passes cuts for all but richest Americans

WASHINGTON (AP) — The Senate has debated, sniped and voted on the politically fraught issue of tax cuts, and next week it'll be the House's turn. Still, Americans won't know until after the November elections how much more of their paychecks will go to the government next year.

FACT CHECK: Romney met Bain partners after exit

WASHINGTON (AP) — Republican presidential candidate Mitt Romney has said he had no active role in Bain Capital, the private equity firm he founded, after he exited in February 1999 to take over Salt Lake City's Winter Olympics bid. But according to Bain associates and others familiar with Romney's actions at the time, he stayed in regular contact with his partners over the following months, tending to his partnership interests and negotiating his separation from the company.

GOP senators launch tour warning of defense cuts

WASHINGTON (AP) — Senate Republicans warning of the devastating impact from looming defense cuts will hit four presidential battleground states next week, ratcheting up the political pressure on President Barack Obama even though Congress endorsed the reductions.


WEDNESDAY, JULY 25
MIDSTATE

2nd PAC with ties to Zelenik targets Black

NASHVILLE (AP) - A former campaign aide for Republican Lou Ann Zelenik has funded a second political action committee to take out negative ads against freshman U.S. Rep. Diane Black in the Aug. 2 primary.

Dam torn down on river south of Nashville

FRANKLIN (AP) - The Harpeth River is flowing freely for the first time in 50 years.

NASHVILLE AREA

State wins case involving firearm seized in park

NASHVILLE (AP) - A judge has upheld a state statute that restricts the possession of firearms in a case involving a Williamson County man who carried a pistol at a state park.

Pharos Capital Names Tina Hahn senior VP, investor relations

NASHVILLE - Pharos Capital Group, LLC, a private equity firm based in Nashville and Dallas, has hired Tina Hahn as senior vice president of investor relations, the firm announced today.

STATEWIDE

States ask help collecting Internet sales taxes

WASHINGTON (AP) — More than 21 states have simplified how they collect taxes in hopes of recovering an estimated $20 billion in sales taxes that go uncollected by out-of-state online merchants every year. But the nation's governors say they still need help from Congress.

Grants available to preserve historical records

NASHVILLE (AP) — The Tennessee Historical Records Advisory Board is now accepting applications for State and National Archival Partnership grants.

AUTO INDUSTRY

Toyota takes first-half global sales lead from GM

TOKYO (AP) — Toyota bounced back from safety recalls and natural disasters, selling 4.97 million vehicles globally in the first half of the year to retake its crown as the world's top automaker from General Motors Co.

European losses hurt Ford 's 2Q profit

DEARBORN, Mich. (AP) — Plummeting sales in Europe — and no hope for a quick fix in the troubled region — hurt Ford's second-quarter profit and forced the company to lower its full-year earnings forecast.

France plans to save car industry by going green

PARIS (AP) — Green technology is the answer to the declining fortunes of France's auto industry, according to a new government plan to turn the sector around.

NATIONAL BUSINESS

S&P 500 slips on weak earnings; Dow gains

NEW YORK (AP) — Weak earnings reports from big U.S. companies are sending the Standard & Poor's 500 index slightly lower at the close, but the Dow Jones industrial average is eking out a gain.

Oil prices rise on hopes for stimulus

NEW YORK (AP) — Oil prices changed course Wednesday as gloomy economic news raised hopes that global central banks will take more steps to stimulate growth.

USDA says drought will push up food prices in 2013

MINNEAPOLIS (AP) — The record drought gripping half the country will help push food prices up by 3 percent to 4 percent next year, the U.S. Department of Agriculture said Wednesday.

Citigroup's ex-CEO: Mega-banks should be broken up

NEW YORK (AP) — Sandy Weill is having a change of heart.

US new-home sales fall to 350K, 5-month low

WASHINGTON (AP) — Americans bought fewer new homes in June after sales jumped to a two-year high in May. The steep decline suggests a weaker job market and slower growth could make the housing recovery uneven.

GOP: Geithner failed to tell Congress about LIBOR

WASHINGTON (AP) — Republican lawmakers are criticizing Treasury Secretary Timothy Geithner for failing to alert Congress four years ago that banks could have been manipulating a key global interest rate.

American CEO bashes US Airways; calls it desperate

BOSTON (AP) — American Airlines CEO Tom Horton wants to set the record straight: It was he who approached US Airways CEO Doug Parker about the possibility of combining the two airlines, not the other way around.

Caterpillar shares jump as 2Q profit grows 67 pct

Caterpillar Inc. says its second-quarter profit soared 67 percent because of growing demand for its construction and mining equipment, and the company boosted its outlook for the year.

NATIONAL POLITICS

Senate ready for symbolic showdown on tax cuts

WASHINGTON (AP) — The Senate is bracing for a tax-cut showdown that is all about Democrats and Republicans showing voters their differences over taxing the well-off while accusing each other of threatening to shove the government over a fiscal cliff.

Most would avoid higher taxes under Dem, GOP bills

WASHINGTON (AP) — Do you make more than $200,000 annually, or $250,000 between you and your spouse? Do you expect to inherit an estate worth more than $1 million next year?


TUESDAY, JULY 24
NASHVILLE AREA

Predators match Flyers' offer sheet for Weber

PHILADELPHIA (AP) — The Nashville Predators have matched the staggering offering sheet made by the Philadelphia Flyers for defenseman Shea Weber.

HealthStream rises after boosting its outlook

NEW YORK (AP) - Shares of HealthStream Inc. jumped Tuesday after the company raised its full-year revenue outlook, saying it expects better results from its learning business.

Iraq veteran wins appeal against Nashville police

NASHVILLE (AP) - An Iraq war veteran who filed a lawsuit against the Metro Nashville police department for reassigning him and then firing him after a deployment has won an appeal over back pay and damages.

MIDSTATE

Zelenik campaign denies help from former chairman

NASHVILLE (AP) - A super political action committee is working against U.S. Rep. Diane Black in the Aug. 2 primary and its sole contributor was formerly the chief fundraiser for Black's opponent, Lou Ann Zelenik.

Man accused of bomb threat pleads not guilty

MURFREESBORO (AP) - A Texas man accused of making a bomb threat against a Murfreesboro mosque has pleaded not guilty.

$20,000 offered for info in fire chief death

NASHVILLE (AP) — Gov. Bill Haslam has offered a $20,000 reward for information leading to the arrest and conviction of the person or persons responsible for the death of Decatur County Fire Chief Kenny Fox.

NATIONAL BUSINESS

Stocks drop for a 3rd day as earnings slide

NEW YORK (AP) — A parade of grim news, from weak corporate earnings to a pullback at U.S. factories to spreading fault lines in Europe's debt crisis, sent investors fleeing stocks for a third straight day on Tuesday.

Oil prices steady on stronger Chinese factory data

NEW YORK (AP) — The price of oil is up slightly as China's manufacturing sector appeared to be getting stronger.

AT&T smartphone sales fall in 2Q, boosting net

NEW YORK (AP) — AT&T Inc. on Tuesday said it saw declining smartphone sales in the second quarter, leading to the best profitability ever in its wireless arm as it saved on phone subsidies.

Wanna bet? Gambling on the London Olympics

LONDON (AP) — What are the odds of a UFO sighting during the London Olympics opening ceremony? Or of the final torch bearer tripping as they ascend to light the flame? Or would you prefer a more traditional wager on the battle for gold between Russia and Spain in synchronized swimming duos?

Plains ranchers sell cattle as US drought spreads

WICHITA, Kan. (AP) — Kansas cattleman Ken Grecian sold 20 pairs of cows and calves a few weeks after drought had sucked his pastures dry and no rain was in the forecast. He sold 20 more pairs Friday.

NATIONAL POLITICS

Geithner hopeful a fiscal crisis can be averted

WASHINGTON (AP) — Treasury Secretary Timothy Geithner is voicing confidence the Obama administration and Congress will avert a fiscal crisis.

White House: Families' taxes could go up $1,600

WASHINGTON (AP) — A standoff with Congress that results in the January expiration of wide-ranging tax cuts would mean 114 million families would see average tax increases of $1,600 next year, the White House says.

Congress passes bill boosting pilots' rights

WASHINGTON (AP) — Pilots' rights when dealing with Federal Aviation Administration disciplinary proceedings would receive a boost under a bill passed by Congress on Monday — a measure written by a senator who was ordered to take remedial flying lessons by the agency after he landed his plane on a closed runway.

Board: BP missed the big hazard issues in spill

WASHINGTON (AP) — BP focused too much on the little details of personal worker safety instead of the big systemic hazards that led to the 2010 Gulf of Mexico oil spill and wasn't as strict on overall safety when drilling rigs involved other companies that they hired, a government safety panel concludes.


MONDAY, JULY 23
NASHVILLE AREA

Church asks high court to judge property dispute

NASHVILLE (AP) - A Nashville church that broke away from the Episcopal Diocese of Tennessee is asking the state Supreme Court to hear a dispute over who owns the church property.

STATEWIDE

State trying to turn research into products, jobs

NASHVILLE (AP) - Tennessee ranks eighth in the country for the volume of federal grants its university research centers receive, but those dollars are not paying off in terms of new products, companies and jobs.

State offering free radon test kits for a week

NASHVILLE (AP) — The Tennessee Department of Environment and Conservation is offering free radon test kits through next Monday.

NATIONAL BUSINESS

More airfare increases on the way

DALLAS (AP) — Get ready to spend more on travel. Airlines are raising ticket prices again after a long lull that coincided with falling fuel costs.

How Apple's phantom taxes hide billions in profit

NEW YORK (AP) — On Tuesday, Apple is set to report financial results for the second quarter. Analysts are expecting net income of $9.8 billion. But whatever figure Apple reports won't reflect its true profit, because the company hides some of it with an unusual tax maneuver.

Europe shaken by fear Spain will need full bailout

FRANKFURT, Germany (AP) — Europe is on the brink again. The crisis over too much debt in the 17 countries that use the euro flared dangerously on Monday.

2nd triple-digit loss for Dow in 2 days

NEW YORK (AP) — Fear that Spain may need a bailout sent its borrowing costs soaring, the euro to a two-year low against the dollar and stocks around the world tumbling as investors pulled back Monday from all manner of risk.

Oil price falls on renewed concerns about Europe

NEW YORK (AP) — The price of oil fell Monday as concerns increased about Europe's debt-ridden economies.

Big tech stocks rally after early earnings reports

SAN FRANCISCO (AP) — That wasn't so bad, after all.

NATIONAL POLITICS

US poverty on track to rise to highest since 1960s

WASHINGTON (AP) — The ranks of America's poor are on track to climb to levels unseen in nearly half a century, erasing gains from the war on poverty in the 1960s amid a weak economy and fraying government safety net.

House leaders wary of farm, postal bill showdowns

WASHINGTON (AP) — Senate-passed bills to cut farm subsidies and food stamps and overhaul the financially teetering Postal Service have been put on hold by House Republican leaders wary of igniting internal party fights or risking voters' ire three months before the election.


FRIDAY, JULY 20
STATEWIDE

Frist calls for state health insurance exchanges

NASHVILLE (AP) — Former Senate Majority Leader and heart surgeon Bill Frist is calling on states to get going on their health insurance exchanges.

Tennessee jobless rate in June rises by 0.2 percent

NASHVILLE (AP) — Tennessee's unemployment rate rose 0.2 percent in June to 8.1 percent.

MIDSTATE

Murfreesboro mosque not ready to open for Ramadan's start

MURFREESBORO (AP) - Tennessee Muslims who won a court battle to occupy their new mosque learned Thursday they won't be able to begin worshipping there for the start of Ramadan because it needs about two weeks more of construction work.

Forrest's raid in Murfreesboro to be commemorated

MURFREESBORO (AP) — The 1862 Civil War raid by Confederate Col. Nathan Bedford Forrest in Murfreesboro will be commemorated this weekend in the city.

MUSIC INDUSTRY

Fender decides against taking the public stage

NEW YORK (AP) — The guitar-maker Fender, finding itself playing before a hostile crowd, is reversing course on becoming a publicly traded company.

AUTO INDUSTRY

Renault, Nissan invest in South Korea production

SEOUL, South Korea (AP) — The French-Japanese auto alliance of Renault and Nissan is investing $160 million in its South Korean unit to produce Nissan-branded vehicles mostly destined for the United States, taking advantage of the South Korea-U.S. free trade agreement and a more favorable exchange rate.

Auto sales weaken a bit in early July

DETROIT (AP) — The raft of gloomy economic news may be starting to hurt U.S. auto sales.

NATIONAL BUSINESS

US stocks slide as crisis in Europe deepens

NEW YORK (AP) — U.S. stocks fell Friday as problems in debt-riddled Europe came to a fore.

Oil below $92 as weak demand, Iran tension weighed

Oil slipped below $92 a barrel Friday, after a big jump the day before, as weak demand was weighed against rising Middle East tensions.

Microsoft reports first loss as public company

LOS ANGELES (AP) — Microsoft said Thursday that an accounting adjustment to reflect a weak online ad business led to its first quarterly loss in its 26 years as a public company.

Google's 2Q earnings rise 11 pct, ad prices fall

Google's second-quarter earnings rose 11 percent despite a deepening decline in the prices paid for its Internet search advertising.

Corn, soybean prices at record highs on crop woes

Prices for corn and soybeans hit all-time highs Thursday as questions built about the extent of damage to the crops from the merciless summer heat.

US rate on 30-year mortgage: 3.53 pct., new record

WASHINGTON (AP) — Average rates on fixed mortgages fell again this week to record lows, creating more incentive for buyers to enter the recovering housing market.

Chick-fil-A surprises some with gay marriage talk

ATLANTA (AP) — Gay rights advocates were surprised Thursday that the president of fast-food chain Chick-fil-A has taken a public position against same-sex marriage.

US economic data add to signs of slowing recovery

WASHINGTON (AP) — A raft of economic news Thursday sketched a picture of a weakening U.S. economy held back by sluggish home buying and factory production.

CEOs of American Airlines, US Airways discuss merger options

DALLAS (AP) — The CEOs of American Airlines parent AMR Corp. and US Airways met over breakfast Thursday to talk about potential merger scenarios.

Ford recalls 2013 Escapes; engines can catch fire

DETROIT (AP) — Ford Motor Co. is telling owners of one version of the brand-new Ford Escape not to drive the SUVs until dealers can fix fuel lines that can crack and spill gasoline, causing engine fires.

Morgan Stanley closes a bleak bank earnings season

NEW YORK (AP) — It's tough being a big bank these days.

NATIONAL POLITICS

Study: Private student loans parallel subprime

WASHINGTON (AP) — Risky lending caused private student loan debt to balloon in the past decade, leaving many Americans struggling to pay off loans that they can't afford, a government study says.

House pushes to complete $608B defense bill

WASHINGTON (AP) — The House pressed ahead Thursday to complete a $608 billion defense spending bill for next year that adds billions to President Barack Obama's request and breaks a budget deal that Congress backed last year.

Senate GOP kills measure to curb job 'outsourcing'

WASHINGTON (AP) — Senate Republicans on Thursday killed a measure backed by President Barack Obama that would encourage companies to bring overseas jobs back to the United States.

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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