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VOL. 38 | NO. 31 | Friday, August 01, 2014

Music City Center faces its ‘Super Bowl’ moment: $500M in business on the line with August convention

In sales, it’s all about leads. And Nashville is about to get 2,500 of them in the highly-competitive field of hosting major conventions.

Convention business vital to downtown businesses

The Wildhorse Saloon rode onto Second Avenue in 1994 on a wave of Garth Brooks’ music and country line dancing, the start of a 20-year roller coaster ride for the gigantic downtown Nashville venue.

Hotels sprouting in Murfreesboro’s Gateway Center

Rutherford County and Murfreesboro are leading a hotel boom in the Greater Nashville region, driven by the area’s overall economic growth and demand by youth athletic tournament participants and parents.

IN THE WEEDS

Former Loveless chef Jesse Goldstein finds new recipe

As the food scene grows in Nashville, so do the businesses that support it. Jesse Goldstein, a chef and former brand manager at the iconic Loveless Cafe, started his own company, Food Sheriff Consumable Branding (food-sheriff.com), in January.

Local Weather
Today
Nashville, TN
72°F
Partly Cloudy
Wind: 3 mph
Humidity: 35%

EVENTS

Summer of Street Food. A gathering of 15 to 20 local food trucks. This event will take place every other Thursday through August 21. Trucks will be parked on Deaderick Street between 4th Avenue North and 5th Avenue North. Information: www.nashvillefoodtruckassociation.com.

more events »

REALTY CHECK

2014 a big year so far for sales of $1M-plus home sales

Forbes magazine has included Nashville in yet another list of wonderfulness.

REAL ESTATE

Top Middle Tennessee residential real estate transaction for first half of 2014

January through June 2014 residential real estate transactions of $500,000 or more for Davidson, Williamson, Rutherford, Wilson and Sumner counties, as compiled by Chandler Reports.

TENNESSEE TITANS

Fan favorite Mariana faces long odds in comeback

Ever since the seventh-round pick won the kick return job in 2010 and went on to play in the Pro Bowl that season, Marc Mariani has been a favorite of Titans’ fans.

UT SPORTS

‘Sudden change’ means little job security for veteran Vols

KNOXVILLE – Don’t look for University of Tennessee football coach Butch Jones to play favorites when fall training camp begins Friday (Aug. 1).

NEWSMAKERS

Health Care Council announces new board

William F. Carpenter III, chairman and CEO, LifePoint Hospitals, will continue to serve as chairman of the Nashville Health Care Council board of directors for the second year.

GUERRILLA MARKETING

Still not sold on Pinterest? It’s time to reconsider

There’s no denying virtual scrapbooking site Pinterest’s explosive growth, now boasting more than 40 million active users per month.

THE WORLDLY INVESTOR

Asia’s growth depends on US

Ni hao! I write to you this week from Hong Kong. For the next 12 months I will be working remotely from China in order to closely evaluate conditions within the Asian economies.

CAREER CORNER

Wrong degree doesn’t lock you into career

One of the chief complaints I hear from job seekers is that their lousy college education is to blame for their poor career success.

I SWEAR

‘Glamazon’ a good study in dictionary inclusion

I was checking something out online the other day when I came across the word glamazon.

KAY'S COOKING CORNER

Versatile cornbread: From salad to milk glass

Cornbread salad in summer is like chili in winter – a must-have. It’s like a cool garden salad with Southern charm. It’s also a potluck favorite.

STATEWIDE

GOP lawmakers in tight Tennessee primary races

NASHVILLE (AP) - More than two dozen incumbent Republican and Democratic state lawmakers face challengers in Thursday's primary elections, and several could swing on narrow margins.

Alexander faces tea party-styled challengers

NASHVILLE (AP) - Republican Sen. Lamar Alexander, a 40-year veteran of Tennessee politics, is facing a challenge Thursday from two tea party-styled candidates who have tried to cast him as out of touch with the state's increasingly conservative electorate.

Congressional races top Tennessee primary election

NASHVILLE (AP) — Republican voters will decide Thursday whether to re-nominate Lamar Alexander, a 40-year veteran of Tennessee politics, to a third term in the U.S. Senate.

NASHVILLE AREA

State to co-sponsor genealogy events next month

NASHVILLE (AP) - The Tennessee State Library and Archives and Ancestry.com are collaborating on genealogy events in Nashville next month.

NATIONAL BUSINESS

Oil boom and housing bust alter US spending trends

WASHINGTON (AP) — Consumer spending has soared since the Great Recession ended five years ago in U.S. states with oil and gas drilling booms and has lagged in states hit especially hard by the housing bust.

Average US 30-year mortgage rate at 4.14 percent

WASHINGTON (AP) — Average long-term U.S. mortgage rates rose slightly this week but remained near their lows for the year.

US airlines running behind schedule so far in 2014

More U.S. flights arrived late in June than the month before, continuing a string of poor performances by the nation's airlines.

US jobless aid applications fall to 289,000

WASHINGTON (AP) — Fewer people sought U.S. unemployment benefits last week, as jobless claims remain at relatively low levels that point toward stronger economic growth.

US stocks edge lower in late morning trading

NEW YORK (AP) — U.S. stocks edged lower in late morning trading as investors assessed the latest company earnings and the outlook for the economy. Investors are still troubled by the potential for escalating tensions between Russia and the West over Ukraine.

Fannie Mae earns $3.7B in 2Q; paying $3.7B to US

WASHINGTON (AP) — Fannie Mae is reporting net income of $3.7 billion from April through June as the housing market continued to recover.

AP source: Bank of America nears $16-$17B settlement with US

WASHINGTON (AP) — Bank of America is nearing a $16 billion to $17 billion settlement to resolve an investigation into its role in the sale of mortgage-backed securities before the 2008 financial crisis, a person directly familiar with the matter said Wednesday.

NATIONAL POLITICS

Obama to sign veterans' health care overhaul

WASHINGTON (AP) — Veterans are expected to have an easier time getting government-paid health care from local doctors under a bill that President Barack Obama is set to sign into law Thursday.


WEDNESDAY, AUGUST 6
MUSIC INDUSTRY

Rascal Flatts cancels 3 shows due to illness

NASHVILLE (AP) - Singer Gary LeVox has lost his voice, forcing Rascal Flatts to cancel three shows in the Pacific Northwest this week.

STATEWIDE

5 things to know in Tennessee primaries

NASHVILLE (AP) — Five things to know about Thursday's primary elections and other ballot issues in Tennessee:

State touts college savings program tutorial

NASHVILLE (AP) — State Treasurer David H. Lillard Jr. has presented the Anderson County school system with a $2,000 check for getting parents to complete an online tutorial about the importance of saving for college.

COURTS

Tennessee marriage case heard by appeals court

NASHVILLE (AP) — A three-judge panel is now considering whether Tennessee's law barring recognition of same-sex marriages is constitutional.

AUTO INDUSTRY

Chrysler 2Q profit up 22 pct. on rising US sales

DETROIT (AP) — Chrysler Group's second-quarter net profit rose 22 percent, fueled by rising sales in the U.S.

NATIONAL BUSINESS

Pew: Split views on robots' employment benefits

WASHINGTON (AP) — In 2025, self-driving cars could be the norm, people could have more leisure time and goods could become cheaper. Or, there could be chronic unemployment and an even wider income gap, human interaction could become a luxury and the wealthy could live in walled cities with robots serving as labor.

Gov't to sell $67B in Treasurys next week

WASHINGTON (AP) — The government says it will sell $67 billion in Treasury securities next week as part of its regular quarterly refunding auctions.

US trade gap narrows to lowest level in 5 months

WASHINGTON (AP) — The U.S. trade deficit fell in June to its lowest level since January as imports dropped sharply, led by lower shipments of cellphones, petroleum, and cars.

Stocks stabilize; Molson Coors jumps on earnings

NEW YORK (AP) — U.S. stocks stabilized on Wednesday after energy stocks and earnings from a major beer brewer helped the market stem its recent declines.

Walgreen turns down inversion to cut tax bill; shares fall 14%

Growing political heat and possible customer backlash helped dissuade Walgreen from trying to trim its tax bill by reorganizing overseas as part of an acquisition.

21st Century Fox abandons pursuit of Time Warner

Rupert Murdoch's 21st Century Fox is abandoning its attempt to take over Time Warner in a proposed deal that would have combined two of the world's biggest media companies.

US companies falling behind as Africa surges

WASHINGTON (AP) — As Africa's economy rises, American businesses are at risk of being left behind.


TUESDAY, AUGUST 5
MUSIC INDUSTRY

The Civil Wars music duo announce formal breakup

NASHVILLE (AP) - The members of folk duo The Civil Wars have made it official: They're breaking up.

MIDSTATE

Community Health paying $98M to settle US claims

FRANKLIN (AP) — Community Health Systems Inc. has agreed to pay $98 million to settle federal claims of improper billing by the hospital company.

NASHVILLE AREA

Tennessean newspaper to make cuts, reshuffle

NASHVILLE (AP) - The Tennessean newspaper in Nashville has announced it will make cuts and reshuffle its newsroom.

Gannett splits publishing, broadcasting in two

NEW YORK (AP) — The game of survival is on for newspapers, as USA Today owner Gannett on Tuesday became the most recent major media entity to say it will divide its print and broadcast divisions into separate companies.

STATEWIDE

Judge OKs settlement with Tennessee coal ash victims

NASHVILLE (AP) - A federal judge has approved an agreement by the nation's largest public utility to pay $27.8 million to settle claims from Tennessee property owners who suffered damages from a huge, 2008 spill of toxin-laden coal ash sludge.

Tennessee Supreme Court races see spending spike

NASHVILLE (AP) - An influx of campaign spending on three Tennessee Supreme Court seats has transformed what is traditionally a sleepy affair into a hard-fought campaign that has raised questions about the role of partisan politics in the judiciary.

TDEC wins state employees wellness competition

NASHVILLE (AP) — The Tennessee Department of Environment and Conservation has received the Wellness Champion Award in the Working for a Healthier Tennessee competition.

REAL ESTATE

Year-over-year US home prices show a slowing gain

WASHINGTON (AP) — U.S. home prices rose in June by the smallest year-over-year amount in 20 months, slowed by modest sales and more properties coming on the market.

AUTO INDUSTRY

Toyota profit up nearly 5 percent on sales growth

TOKYO (AP) — Toyota Motor Corp. reported a 5 percent jump in quarterly profit Tuesday, outpacing expectations as vehicle sales grew in North America and Europe, offsetting a drop in Japan.

HEALTH CARE

Poll: Obama health law is a tale of 2 Americas

WASHINGTON (AP) — President Barack Obama's health care law has become a tale of two Americas. States that fully embraced the law's coverage expansion are experiencing a significant drop in the number of uninsured residents, according to a major new survey released Tuesday. States whose leaders still object to "Obamacare" are seeing much less change.

NATIONAL BUSINESS

US services firms grow at fastest pace in 8 years

WASHINGTON (AP) — U.S. services firms grew at the fastest rate in more than eight years in July, the latest sign of an economy picking up speed in the second half of the year.

US factory orders rise 1.1 percent in June

WASHINGTON (AP) — Orders to U.S. factories increased in June, led by demand for aircraft, industrial machinery and computers and electronics.

S&P: Wealth gap is slowing US economic growth

WASHINGTON (AP) — Economists have long argued that a rising wealth gap has complicated the U.S. rebound from the Great Recession.

US stocks sink on renewed Russia-Ukraine tensions

NEW YORK (AP) — Renewed concerns that tensions could flare up between Russian and Ukraine pushed U.S. stocks sharply lower Tuesday.

A guide for fliers worried about Ebola outbreak

NEW YORK (AP) — As the Ebola outbreak in West Africa grows, airlines around the globe are closely monitoring the situation but have yet to make any drastic changes. Below are some key questions about the disease, what airlines are doing and how safe it is to fly.

NATIONAL POLITICS

Obama announces $33B in commitments for Africa

WASHINGTON (AP) — Seeking to strengthen America's financial foothold in Africa, President Barack Obama announced $33 billion in commitments Tuesday aimed at shifting U.S. ties with Africa beyond humanitarian aid and toward more equal economic partnerships.

Poll: No agreement on how to pay for highways

WASHINGTON (AP) — Small wonder Congress has kept federal highway and transit programs teetering on the edge of insolvency for years, unable to find a politically acceptable long-term source of funds. The public can't make up its mind on how to pay for them either.


MONDAY, AUGUST 4
STATEWIDE

Tennessee's early voting numbers set record

NASHVILLE (AP) - A record number of voters have cast ballots during early voting for the Tennessee primary election.

AUTO INDUSTRY

GM's faulty-ignition fund taking victims' claims

A fund set up by General Motors to pay for deaths and injuries caused by its vehicles with faulty ignitions is accepting claims.

NATIONAL BUSINESS

US stocks bounce back after worst week since 2012

Solid earnings from Berkshire Hathaway and a bank rescue in Europe gave investors enough encouragement to send stock prices higher.

Walgreen CFO leaves, replaced with Kraft exec

Walgreen's top financial officer is leaving the largest U.S. drugstore chain as it nears a key decision about its future that could involve a politically touchy overseas reorganization.

Wal-Mart's website to personalize shopping

NEW YORK (AP) — Wal-Mart, in its latest bid to compete with nemesis Amazon.com, is rebuilding its website to further personalize the online shopping experience of each customer.

NATIONAL POLITICS

Obama hosts Africa summit with an eye on legacy

WASHINGTON (AP) — As President Barack Obama immerses himself in talks on Africa's regional security, democracy building and business investment this week, the world's attention — and much of his own — will be on an extraordinary array of urgent overseas crises.


FRIDAY, AUGUST 1
STATEWIDE

TVA to pay Kingston coal ash spill victims $27.8M

NASHVILLE (AP) - The nation's largest public utility has agreed to pay $27.8 million to settle claims from Tennessee property owners who suffered damages from a huge spill of toxin-laden coal ash sludge.

3 Southeast flowers get federal protection

NASHVILLE (AP) - Three Southeast flowers are now protected under the Endangered Species Act.

Journal Communications, Scripps Co. announce deal

NEW YORK (AP) — Journal Communications Inc. of Milwaukee and E.W. Scripps Co. of Cincinnati have agreed to combine their broadcasting operations while spinning off newspaper holdings into a separate public entity.

AUTO INDUSTRY

Nissan shows big gain as US auto sales sizzle in July

DETROIT (AP) — Big discounts helped U.S. auto sales sizzle in July.

Chrysler US sales climb 20 percent in July

AUBURN HILLS, Mich. (AP) — Chrysler says its U.S. sales rose 20 percent in July from a year ago, its best performance for the month in nine years.

GM boosted June sales with discounts to dealers

As General Motors prepares to report monthly sales results on Friday, a look its numbers from June show just how intent the company is on keeping new-car sales on the rise during a record spate of safety recalls.

NATIONAL BUSINESS

US stocks have their worst week in two years

NEW YORK (AP) — The U.S. stock market is closing out its worst week in two years.

US consumer sentiment edges down to 81.8 in July

WASHINGTON (AP) — A measure of U.S. consumer confidence slipped in July although it remained at levels signaling further gains in consumer spending.

US consumer spending up 0.4 percent in June

WASHINGTON (AP) — U.S. consumer spending rose at the fastest pace in three months in June, providing momentum for the economy going into the second half of the year.

US job growth eases but tops 200K for a 6th month

WASHINGTON (AP) — U.S. employers extended their solid hiring into July by adding 209,000 jobs. It was the sixth straight month of job growth above 200,000, evidence that businesses are gradually shedding the caution that had marked the 5-year-old recovery.

As US job market strengthens, many don't feel it

WASHINGTON (AP) — For millions of workers, happy days aren't quite here again.

Obama order presses contractors to obey labor laws

WASHINGTON (AP) — President Barack Obama moved Thursday to require federal contractors to give their workers more rights in labor disputes, putting his pen to an executive order the day after the House voted to sue him for allegedly exceeding his presidential powers. In an election-year dare to Republicans, Obama said congressional obstinacy would only embolden him to take even more aggressive actions on his own.

NATIONAL POLITICS

Obama: Economy stronger, Congress could do more

WASHINGTON (AP) — President Barack Obama says the economy is getting stronger and, quote, "engines are revving a bit louder."

Congress votes final passage on highway bill

WASHINGTON (AP) — Congress gave final approval Thursday to a $10.8 billion bill to keep federal highway funds flowing to states through the summer construction season and the fall elections.

House GOP divisions on border bill delay getaway

WASHINGTON (AP) — House Republican leaders struggled to round up votes from recalcitrant conservatives for a bill dealing with the immigrant surge at the U.S.-Mexico border and head home for a five-week summer break boasting of acting to address the crisis.

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