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VOL. 36 | NO. 26 | Friday, June 29, 2012

Sharing tourism’s wealth

Amateur sports, special events help Midstate counties enjoy record year

Sure, Nashville is major national tourist destination that attracts more than 11 million annually. But surrounding counties are in the process of building tourist empires of their own, using ever-increasing tourist-related tax revenues to strengthen their communities.

Midstate 4th of July celebrations

There’s no shortage of July 4 celebrations in Middle Tennessee, from Nashville’s internationally acclaimed blowout at Riverfront Park to a full day of activities for the family in Franklin at The Park at Harlinsdale.

Middle Tennessee inventors find the path to a patent is shortened with guidance from experienced attorney

Guitarists wrangling equipment in the rain owe Daniel Cooper a debt of thanks. The same goes for trucking companies who know where their trailers are, compliments of Trackpoint Systems.

REAL ESTATE

Top commercial real estate transactions for May 2012

Top residential sales for Davidson, Williamson, Rutherford and Wilson counties, as compiled by Chandler Reports.

Local Weather
Currently
Nashville, TN
61.0°F
Partly Cloudy
Wind: from the North at 15.0 gusting to 24.2 mph
Humidity: 30%

EVENTS

Full Moon Pickin’ Party. Friends of Warner Parks will host this month’s party Friday night at the Steeplechase Barn at the Equestrian Center (2500 Old Hickory Blvd.) in Percy Warner Park. This fundraiser features bluegrass music under the light of a full moon. All money raised goes to the parks to ensure preservation, protection, funding educational programs and special projects. Musicians and music fans alike are invited. 7-11 p.m. Tickets $15 in advance (NowPlayingNashville.com), $20 at the door. Pickers with instruments $5. Children 6 and younger free. Information: FriendsOfWarnerParks.com, 370-8053.

more events »

REALTY CHECK

Will heat wave deliver big chill to home sales?

It’s hot as blazes, and the weather is a factor in real estate sales.

NEWSMAKERS

Attorney Garrett to lead Cumberland initiative

Nashville attorney Stacey A. Garrett will lead the expansion and growth of Cumberland University’s online and continuing education programs for professionals and employers in the Nashville area.

GUERRILLA MARKETING

Dispelling Mad Men’s gin-soaked, last-minute-miracle myths

Infamous Mad Men character Don Draper swills bourbon, chain smokes, womanizes and spouts out seemingly genius 1960s ad campaign concepts just under the wire every week on AMC’s mega hit. How accurate is this depiction of advertising agencies today? Let’s set the record straight.

THE WORLDLY INVESTOR

Scary view from edge of economic cliff

The term “fiscal cliff” is swiftly becoming a normal part of the American vocabulary, as Ben Bernanke, the Congressional Budget Office and economists galore view the combination of spending cuts and tax increases on tap for January as a cliff that our mildly growing economy cannot afford to fall over. The spending cuts matter, but at $1.2 trillion over 10 years, when our actual spending clocks in at $3.5 trillion per year (and growing), the effects are muted compared to an instant, gargantuan tax hike on Jan. 1. If no further action is taken, the tax increases will unfold as follows:

SMART STUFF 4 WORK

Nothing wrong with flip-flopping when new information comes along

So, I heard today that John Kerry is going to play the role of Mitt Romney in President Barack Obama’s debate preparation sessions. Hearing this made me think of an article I read years ago titled The Dog Handler published in Time Magazine.

I SWEAR

Land of the Lost crosswords

This is Part 2 of a series. Don’t miss Part 1, next week. (I know what order series normally go in! Get over it, already!)

KAY'S COOKING CORNER

Fondue moves past avocado green image

Remember the fondue parties people used to have? Nights spent sitting around talking and dancing to the Beatles or the Rolling Stones while melted cheese was bubbling away in a fondue pot? Well, if you hold on to something long enough, eventually, you’ll need it again. In this case, that would be the fondue pot!

MUSIC INDUSTRY

Luke Bryan among MLB All-Star Game performers

NASHVILLE (AP) — Stars are lining up for Major League Baseball's All-Star Game next week in Kansas City.

NATIONAL BUSINESS

US fixed mortgage rates fall to new record lows

WASHINGTON (AP) — Fixed U.S. mortgage rates fell again to new record lows, providing prospective buyers with even more incentive to brave a modestly recovering housing market.

Retailers report tepid sales for June

NEW YORK (AP) — Shoppers, worried about jobs and the overall economy, pulled back on spending in June, resulting in tepid sales results for many retailers.

US service sector grows at slowest pace in 2 years

WASHINGTON (AP) — U.S. service companies grew in June at the slowest pace in nearly two and a half years, a troubling sign for the economy.

US jobless aid applications fall to 6-week low

WASHINGTON (AP) — Fewer people applied for U.S. unemployment benefits last week, and a private survey showed hiring picked up in June. The reports offered some hope for the job market after three sluggish months of hiring.

Private survey: US economy added 176K jobs in June

WASHINGTON (AP) — A private survey shows U.S. businesses increased hiring in June, suggesting the job market could be recovering after three sluggish months.

Weak retail sales, worries about China sink stocks

NEW YORK (AP) — Stocks were mostly lower in midday trading on Wall Street Thursday on signs that Americans are spending at a slower pace and that China's economy is in worse shape than previously thought.

Oil up to $88 on Norway strike; EU, China rate cut

Oil edged up to $88 a barrel Thursday as Norway's largest oil company said it would begin shutting down production due to a labor conflict, and central banks in China and Europe slashed their interest rates to boost sagging economic growth.

Malware may knock thousands off Internet on Monday

WASHINGTON (AP) — Despite repeated alerts, tens of thousands of Americans may still lose their Internet service Monday unless they do a quick check of their computers for malware that could have taken over their machines more than a year ago.

Moody's, S&P take step to downgrading Barclays

LONDON (AP) — Two leading credit rating agencies took steps Thursday toward downgrading Barclays in the wake of a trading scandal that's seen three senior officials, including chief executive Bob Diamond, hand in their resignations.

VW shares soar on deal to complete Porsche merger

BERLIN (AP) — Shares in Volkswagen AG soared higher on Thursday after Europe's biggest automaker announced a deal to complete the takeover of sports car manufacturer Porsche by the end of the month, which the company said will result in savings of some €700 million ($880 million) per year.


TUESDAY, JULY 3
STATEWIDE

Crops, livestock in peril as drought spreads

NASHVILLE (AP) - A blistering start to summer coming at the end of a spring that was short on rainfall has imperiled Tennessee crops and made livestock production harder.

Tennessee suspending construction-related lane closures

NASHVILLE (AP) — The Tennessee Department of Transportation will suspend all construction-related lane closures on interstates and state routes from noon Tuesday through 6 a.m. Friday to accommodate heavy traffic on the July 4 holiday.

MIDSTATE

M*Modal to be acquired for $1.1 billion cash

NEW YORK (AP) — M*Modal Inc. says it has agreed to be acquired for $1.1 billion in cash by One Equity Partners, the private investment arm of JP Morgan Chase & Co.

STATE LEGISLATURE

Capitol upgrades a chance to undo previous changes

NASHVILLE (AP) — Renovations at the state Capitol are giving workers the chance to restore some of the original features of the 150-year-old building including arched ceilings and other detail work.

NATIONAL BUSINESS

Carmakers report strong June sales, easing worries

DETROIT (AP) — From mini cars to monster pickups, sales of vehicles charged higher in June and eased concerns that Americans would be turned off by slower hiring and other scary headlines.

US factory orders increased 0.7 percent in May

WASHINGTON (AP) — Companies placed more orders with U.S. factories in May from April, demanding more computers, machinery and other equipment that signal investment plans.

Stocks rise as oil prices, factory orders climb

NEW YORK (AP) — Stocks climbed Tuesday in an abbreviated holiday trading session after an encouraging report about manufacturing. Energy stocks rose the most because of increased tension over oil-rich Iran.

Oil prices at highest since May on Iran concerns

NEW YORK (AP) — The price of oil jumped more than 4 percent Tuesday to the highest level since May on renewed fears of a military conflict with Iran.

Netflix's monthly video streaming tops 1B hours

SAN FRANCISCO (AP) — Netflix says its subscribers watched more than 1 billion hours of online video last month as the advent of high-speed Internet connections and high-powered mobile devices change people's viewing patterns.

Chuck E. Cheese being replaced with hipper image

NEW YORK (AP) — Chuck E. Cheese has been given the pink slip.

Boeing predicts 34K new plane sales through 2031

Boeing is predicting that the world's airlines will buy 34,000 new airplanes over the next 20 years, driven by strong growth in China, India, and other emerging markets.


MONDAY, JULY 2
MIDSTATE

Third-driest June in Nashville, hottest day ever

NASHVILLE (AP) - The National Weather Service has crunched some end-of-June numbers that give dimension to the heat wave.

Murfreesboro judge won't let new mosque open

MURFREESBORO (AP) - A Rutherford County judge refused Monday to suspend an order that blocks a local mosque from getting a certificate of occupancy.

Applications for Amazon jobs being taken today

NASHVILLE (AP) — Tennessee Career Centers will accept applications Monday for more than 1,500 full-time warehouse jobs at Amazon in Lebanon and Murfreesboro.

NASHVILLE AREA

Dell buying Quest Software for $2.36 billion

ROUND ROCK, Texas (AP) — Dell is buying Quest Software for about $2.36 billion, ending recent speculation about who the unnamed bidder was in a battle for the company with investment firm Insight Venture Partners.

Ingram Micro buying BrightPoint for about $650M

SANTA ANA, Calif. (AP) — Technology products distributor Ingram Micro Inc. is buying mobile services provider BrightPoint for about $650 million in cash, which will broaden its geographic reach and increase its customer base.

NATIONAL BUSINESS

Study: Small business lending picked up in June

NEW YORK (AP) — Lending to small businesses is recovering after a four-month decline.

US construction spending rose 0.9 percent in May

WASHINGTON (AP) — A surge in homebuilding pushed U.S. construction spending up by the largest amount in five months, the latest indication that the housing sector is slowly recovering.

US manufacturing shrinks for first time in 3 years

WASHINGTON (AP) — U.S. manufacturing shrank in June for the first time in nearly three years, adding to signs that economic growth is weakening.

Stocks mixed as American manufacturing slows

NEW YORK (AP) — Investors rejoiced over Europe last week. On Monday, they got back to worrying about the United States.

Oil falls below $84 amid waning EU euphoria

The price of oil fell below $84 a barrel Monday, unwinding some of the massive gains made Friday, when investors cheered the latest EU plans to tackle the continent's debt and economic woes. Signs of an economic slowdown in China also weighed on markets.

GlaxoSmithKline to pay $3 billion for health fraud

WASHINGTON (AP) — The Justice Department says GlaxoSmithKline will pay $3 billion and plead guilty to promoting two popular drugs for unapproved uses and to failing to report important safety data about a diabetes drug to the Food and Drug Administration.

China court: Apple pays $60M to settle iPad case

BEIJING (AP) — Apple has paid $60 million to settle a dispute in China over ownership of the iPad name, a court announced Monday, removing a potential obstacle to sales of the popular tablet computer in the key Chinese market.

NATIONAL POLITICS

Review finds changes needed in Guard, Reserve pay

WASHINGTON (AP) — America's citizen soldiers, who train in their hometowns for a weekend a month and two weeks a year, receive more money for one day of training at home than their fellow National Guard and Reserve members earn for a day serving in the war zone.


FRIDAY, JUNE 29
MUSIC INDUSTRY

FTC approves Sony's acquisition of part of EMI

NEW YORK (AP) — The Federal Trade Commission says it has cleared a deal by Sony and other investors to buy part of the British music company EMI Group Ltd.

STATEWIDE

ECD puts incentives information on single website

NASHVILLE (AP) - The state began posting some information about Tennessee's economic incentives to businesses on a single website Friday.

NASHVILLE AREA

Belmont, Lipscomb gain pharmacy accreditation

NASHVILLE (AP) - Two more new Tennessee pharmacy schools have received full accreditation.

2 new exhibitions open Sunday at Nashville museum

NASHVILLE (AP) — Two new exhibitions open Sunday at the Tennessee State Museum in Nashville.

First lady tells church group to work for change

NASHVILLE (AP) - First lady Michelle Obama brought an audience of 10,000 African Methodist Episcopal Church members to their feet Thursday as she exhorted them to get involved in the issues that affect their lives.

MIDSTATE

Nissan to manufacture Sentra in Mississippi plant

CANTON, Miss. (AP) — Nissan Motor Co. will start making the Sentra sedan in December at its plant in Canton, Miss., company officials said Thursday.

NATIONAL BUSINESS

World markets surge after Europe finds rescue plan

Financial markets around the world stormed higher Friday after European leaders came up with a breakthrough plan to rescue banks, relieve debt-burdened governments and restore investor confidence.

US consumer spending flat in May, income nudges up

WASHINGTON (AP) — U.S. consumers spent no more in May than in April after seeing almost no gain in their pay. The lack of growth in consumer spending and wages suggests that a faltering job market is slowing the economy.

Merkel defends concessions in euro crisis

BRUSSELS (AP) — After 18 disappointing summits since the start of the debt crisis, Europe's leaders appeared Friday to have finally come up with quick fixes and long-term plans that show they are serious about restoring confidence in their currency union.

European debt deal pushes oil up 5 pct

NEW YORK (AP) — The price of oil is soaring after European leaders rolled out new measures to support their beleaguered economy.

UK big 4 banks agree to redress on rate protection

LONDON (AP) — Britain's biggest banks have agreed to a settlement for mis-selling interest-rate protection products to small and medium-sized businesses, the country's financial regulator said Friday.

Peter Madoff pleads guilty in NYC, blames brother

NEW YORK (AP) — The younger brother and business partner of disgraced financier Bernard Madoff pleaded guilty Friday to charges he doctored documents for years, but he insisted he knew nothing about his brother's historic Ponzi scheme and was "in total shock" when he found out about it.

US 30-year mortgage rate stays at record 3.66 pct.

WASHINGTON (AP) — The average U.S. rate on the 30-year fixed mortgage stayed this week at the lowest level on record. Cheap mortgages have helped drive a modest housing recovery and could give the broader economy a jolt at a time when the job market is weak.

Hospital stocks jump after health care ruling

WASHINGTON (AP) — Hospital stocks rose sharply Thursday after the Supreme Court guaranteed them millions more paying customers by upholding the core of President Barack Obama's health care overhaul.

COURTS

Court won't hear 'wardrobe malfunction' appeal

WASHINGTON (AP) — The Supreme Court decided Friday not to consider reinstating the government's $550,000 fine on CBS for Janet Jackson's infamous breast-baring "wardrobe malfunction" at the 2004 Super Bowl.

High court ruling benefits most health care firms

TRENTON, N.J. (AP) — The Supreme Court's decision Thursday to uphold President Barack Obama's historic health care overhaul is expected to benefit nearly every corner of the health care industry by expanding coverage to millions of Americans. But it's not a slam dunk.

What's next: Coverage for most Americans, a scramble for states

WASHINGTON (AP) — President Barack Obama's health care overhaul is on the way to its ultimate jury: the families, doctors, business people and state officials who'll have to grapple with the confusing details while striving to fulfill its promise.

Health care law survives with Roberts' help

WASHINGTON (AP) — Obamacare lives.

Analysis: GOP sees tax opening in Obama court win

WASHINGTON (AP) — For President Barack Obama to turn his Supreme Court victory into a clear-cut political win this fall, he must do something other candidates have failed to do: make voters care that GOP opponent Mitt Romney once embraced the health care policies he now fiercely criticizes.

NATIONAL POLITICS

White House wants Hill Democrats to fight on taxes

WASHINGTON (AP) — The White House is urging congressional Democrats to engage Republicans in a fight over taxes, pressing them to go on the offensive after the Supreme Court's health care decision gave prominence to the issue.

Agriculture secretary presses House on farm bill

WASHINGTON (AP) — Agriculture Secretary Tom Vilsack on Friday urged the Republican-led House to vote on a long-term farm policy bill, saying failure to act could leave livestock producers exposed to disasters and other farmers uncertain about the future.

GOP wins contempt fight, but legal dispute looms

WASHINGTON (AP) — House Republicans have won a historic political fight to hold Attorney General Eric Holder in contempt of Congress, but the GOP likely is still a long way from obtaining documents it wants in an investigation of a bungled gun-tracking operation.

Congress passes student loans, highway jobs bill

WASHINGTON (AP) — Finding rare political accommodation on the cusp of a holiday recess, Congress passed legislation Friday designed to salvage 2.8 million jobs and shield students from a sharp increase in loan interest rates.

Campaign impact: Obama, Romney seize on ruling

WASHINGTON (AP) — Battling fiercely for the White House, President Barack Obama and Republican rival Mitt Romney implored voters to see the Supreme Court's health care ruling in different ways Thursday, with Obama appealing for people to move on with him and his challenger promising to rip up the law.

Dems savor victory in health care ruling for now

WASHINGTON (AP) — Rep. John Dingell leaned back in his plush office chair and considered the feed that scrolled over his flat-screen TV at 10:07 a.m. Thursday. The Supreme Court, it said, had upheld the health care law he had worked for his entire life — and his father for nearly a quarter-century before that. And Chief Justice John Roberts, appointed by Republican President George W. Bush, had sided with the court's liberals on the crucial point.

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