VOL. 42 | NO. 28 | Friday, July 13, 2018
Beer fans turn their passion into profits – if they have a good head for business
So many amazing and innovative things began in a garage. Grunge music. The Apple computer. Disney. Amazon. And 20 years ago, the beginnings of Nashville’s now-exploding brewery scene.
Sean Jewett had an idea of what the East Nashville Beer Works taproom should be while he was building the business with co-founder Anthony Davis, drawing inspiration from trips to Michigan’s Bell’s Brewery, Founder’s Brewery and Dark Horse Brewery, as well as Delaware’s 262,000-barrel-a-year Dogfish Head.
The Nashville Ledger won top honors for its division Thursday night at the annual University of Tennessee/Tennessee Press Association awards in Franklin.
Law enforcement in Belle Meade will soon have another detection tool in place when the city erects 20 license plate recognition cameras at major points of entry and exit in the city.
SAM STOCKARD: VIEW FROM THE HILL
Using what could be the political acronym of the year, two Republican state lawmakers with expertise in pain treatment are playing on the popularity of President Donald Trump to pass medical pot legislation.
RICHARD COURTNEY: REALTY CHECK
There were 4,036 closings in June, Greater Nashville Realtors sales information reveals, a slight increase from 3,887 closings last June. Of note is that the 3,887 closings last year left an inventory of 8,842, while this June’s closings had 11,087 homes remaining on the market, a number more than last month’s 9,511.
REAL ESTATE
WASHINGTON (AP) — Long-term U.S. mortgage rates edged higher this week, marking their first increase since early June.
PREDATORS
By the time the Predators made their first selection of the 2018 NHL Entry Draft last month, 110 prospects had already been chosen by rival teams.
ELECTION 2018
For many Tennesseans, the pain and financial loss of the Great Recession have faded.
Like most of America, Tennessee’s metropolitan areas have prospered during the last eight years, while the rural areas have lagged in almost every measure. The state has 19 of its 95 counties classified as “distressed.” What can and should we do to give every Tennessean a chance to succeed?
NEWSMAKERS
Green & Little, L.P., real estate investment and development firm based in Gallatin, has named Anderson Green as vice president. Green oversees day-to-day business operations at the asset management level and will be more involved in the overall strategic direction for Green & Little. He has been with the company since 2014.
BRIEFS
Mill Point Capital has reached an agreement to acquire Franklin-based Affinion Insurance Solutions.
BEHIND THE WHEEL
The 2019 model year marks the start of a new cycle for some of America’s top trucks, led by redesigned pickups from Chevrolet and Ram. Ford’s top-selling F-150 had updates in 2018, and more may be in the offing for 2019. Typically, Japanese truck makers Nissan and Toyota aren’t far behind with their own updates. Edmunds breaks down what you need to know about today’s crop of full-size pickups.
BUSINESS BOOK REVIEW
You’ve handed in your keys. It was a bittersweet moment, that pass-along. Cleaning out your workspace was no big deal, a last trip to the lunchroom felt like any other day. But those keys… that part really got to you. “Retirement Reinvention” by Robin Ryan will help when your next thought is, “Well, now what?”
CAREER CORNER
It’s often said that employees quit bosses, not jobs. Can you relate?
TENNESSEE TITANS
DeMarco Murray is retiring from the NFL.
MUSIC INDUSTRY
OWENSBORO, Ky. (AP) — The Bluegrass Music Hall of Fame and Museum has announced details of its grand opening this fall.
COURTS
WASHINGTON (AP) — Twelve Russian military intelligence officers hacked into the Clinton presidential campaign and Democratic Party, releasing tens of thousands of stolen and politically damaging communications, in a sweeping conspiracy by the Kremlin to meddle in the 2016 U.S. election, according to a grand jury indictment announced days before President Donald Trump's summit with Russian President Vladimir Putin.
HEALTH CARE
WASHINGTON (AP) — President Donald Trump's former personal lawyer, Michael Cohen, was in frequent contact with top officials of pharmaceutical giant Novartis as part of a $1.2 million consulting deal, and the Swiss-based company expected him to provide access to Trump administration policymakers, according to a report Friday by a group of Senate Democrats.
CHATTANOOGA (AP) — Tennessee's biggest health insurers are cutting the premiums for individual plans under the Affordable Care Act's health care exchange market for the first time.
NATIONAL/INTERNATIONAL BUSINESS
NEW YORK (AP) — Stocks wrapped up another solid week Friday as industrial and energy companies ticked higher, but corporate earnings got off to a sluggish start as reports from several major U.S. banks failed to excite investors.
The U.S. has nosed ahead of Saudi Arabia and is on pace to surpass Russia to become the world's biggest oil producer for the first time in more than four decades.
WASHINGTON (AP) — The Federal Reserve says it expects low unemployment and rising inflation will keep it on track to raise interest rates at a gradual pace over the next two years. By late 2019, the Fed says its key policy rate should be at a level that will be slightly restrictive for growth.
SAN ANTONIO (AP) — Detaining immigrant children has morphed into a surging industry in the U.S. that now reaps $1 billion annually — a tenfold increase over the past decade, an Associated Press analysis finds.
WASHINGTON (AP) — Stung by a federal judge's dismissal of its objections to AT&T's megamerger with Time Warner, the Trump Justice Department is challenging the decision with a legal appeal.
NEW YORK (AP) — Papa John's, which has featured founder John Schnatter in logos and TV ads, is pulling his image from its marketing after reports he used a racial slur.
ANCHORAGE, Alaska (AP) — Alaska's last two Blockbuster video stores are calling it quits, leaving just one store open in the U.S.
WASHINGTON (AP) — Federal Reserve Chairman Jerome Powell says the economy is in a "good place" at the moment with low unemployment and inflation rising toward the Fed's optimal range. But he says rising trade tensions and higher tariffs could end up being a drag on growth.
WASHINGTON (AP) — The federal government recorded a $74.9 billion deficit in June, a month when the government often runs a surplus, as corporate taxes dropped sharply compared to a year ago.
SEATTLE (AP) — Seven national fast-food chains have agreed to end policies that blocked workers from changing branches — limiting wages and job opportunities — under the threat of legal action from the state.
NEW YORK (AP) — As Amazon gears up for its Prime Day promotion, other big-name retailers like Macy's and eBay are launching deals and sales of their own. But small businesses — including those that don't sell much online — shouldn't sit on the sidelines.
BEIJING (AP) — China tried to step up pressure on Washington in their growing tariff war Thursday by suggesting U.S. companies lobby American leaders, while a Korean union warned President Donald Trump's threat of higher auto import duties could lead to job losses in Alabama.
FRANKFURT, Germany (AP) — Top officials at the European Central Bank expressed confidence at their last policy meeting that the eurozone economy remains "broadly on track" but expressed concern that rising trade protectionism could dampen business confidence and blunt the recovery.
LONDON (AP) — The British government released detailed plans Thursday for what it called a "principled pragmatic and ambitious" Brexit — plans that already triggered the resignation of two top ministers and split the governing Conservative Party, and which face likely resistance from the European Union.
WASHINGTON (AP) — Consumer prices rose in June from a year earlier at the fastest pace in more than six years, lifted by more expensive gas, car insurance, and higher rent.
NEW YORK (AP) — Papa John's founder John Schnatter is no longer board chairman after using a racial slur, but his image is still part of the pizza chain's logo and he remains the company's largest shareholder.
NATIONAL POLITICS
WASHINGTON (AP) — The Trump administration said Thursday all eligible small children who were separated from their families as a result of its zero-tolerance immigration policy have been reunited with their parents.
LONDON (AP) — London Mayor Sadiq Khan has told Sky News that it is up to President Donald Trump to explain why he keeps singling out the mayor for criticism.
WASHINGTON (AP) — President Donald Trump took credit for a supposed new decision by NATO members to increase military spending, though there was no evidence of that.
NEW YORK (AP) — The nation's consumer watchdog agency is accusing the Education Department of impeding a lawsuit that could potentially bring financial relief to millions of student loan borrowers.
WASHINGTON (AP) — An embattled FBI agent whose anti-Trump text messages exposed the Justice Department to claims of institutional bias vigorously defended himself at an extraordinary congressional hearing that devolved into shouting matches, finger-pointing and veiled references to personal transgressions.
WASHINGTON (AP) — House Speaker Paul Ryan is crediting the GOP's tax plan with improving the U.S. economy, an argument that's central to the Republican pitch to voters ahead of the midterm election.