VOL. 39 | NO. 43 | Friday, October 23, 2015
VIEW FROM THE HILL
Siegel High School graduate Davione Williamson wasn’t quite sure he was college material when he entered Motlow State Community College in Smyrna this August on a Tennessee Promise scholarship.
NASHVILLE (AP) - Tennessee Promise recruiters are scrambling to attract 4,000 volunteer mentors to apply to become part of the scholarship program within the next four weeks.
REALTY CHECK
Real estate sales were up 10.3 percent for September compared to September 2014, Greater Nashville Association of Realtors (GNAR) numbers show, and year-to-date sales are up 13.3 percent over the same period last year with 28,252 closings.
TENNESSEE TITANS
As of Sunday, the Tennessee Titans’ mission has changed going forward – or least it should.
UT SPORTS
Tennessee place-kicker Fuad Reveiz was anxious and nervous much of the week leading up the Vols’ game against Alabama on Oct. 16, 1982.
BUSINESS BOOK REVIEW
Your numbers weren’t picked last night. Ah, another worthless lottery ticket. No shopping spree or mortgage payoff for you. You’ll have to go to work and get your incredible wealth just like everybody else. Or, as you’ll read in “Prince of Darkness” by Shane White, you could become rich the old-fashioned way: through grift.
BEHIND THE WHEEL
Toyota’s youth brand, Scion, has added an impressive five-door hatchback for 2016 that features a lot of standard equipment, pleasant looks and decent ride for under $20,000.
GUERRILLA MARKETING
Have you empowered your sales and marketing pros to lead?
THE WORLDLY INVESTOR
The lugubrious sentiment that we described in our Oct. 2 commentary, coupled with the collapse in earnings and economic expectations, coiled the market for a well-broadcasted bounce.
I SWEAR
So, I was in Northwest Arkansas a couple weeks ago for a golf tournament. On Friday night I swung by Penguin Ed’s, bought a mess of barbecue, and took it to the home of Sam and Pat Perroni, long-time friends who used to live in Little Rock. They have a beautiful spread a few miles outside Fayetteville, a picture-perfect spot for grandparenting.
AUTO INDUSTRY
FRANKFURT, Germany (AP) — Volkswagen is sticking with planned investments at its plant in Chattanooga, Tennessee — including production of a new SUV there next year — despite the uncertainty caused by its emissions scandal.
NASHVILLE (AP) - Volkswagen is reaffirming its commitment to its lone U.S. plant in Tennessee in light of a diesel emissions cheating scandal that has rocked the German automaker.
REAL ESTATE
WASHINGTON (AP) — Average long-term U.S. mortgage rates were slightly lower to unchanged this week amid expectations that the Federal Reserve isn't ready yet to raise its key short-term interest rate.
WASHINGTON (AP) — September marked a slowdown in Americans signing contracts to buy homes, the second consecutive decline for a real estate market that has been rebounding for the first half of 2015.
NATIONAL/INTERNATIONAL BUSINESS
WASHINGTON (AP) — The U.S. economy slowed sharply in the summer, reflecting a cutback in businesses' stockpiling of goods, which offset strength in consumer spending.
WASHINGTON (AP) — The number of people seeking U.S. unemployment aid barely rose last week and the average level of applications in the past month fell to a 42-year low.
NEW YORK (AP) — Stocks are slightly lower in midday trading after the U.S. government said economic growth slowed more than expected in the summer. Companies including Buffalo Wild Wings and camera maker GoPro plunged after reporting weak earnings.
NATIONAL POLITICS
WASHINGTON (AP) — House Republicans embraced a new leader Wednesday and swiftly consented to a major budget-and-debt deal to avert a federal financial crisis, highlights of a day of dramatic fresh starts at the Capitol after years of division and disarray.
WEDNESDAY, OCTOBER 28
STATEWIDE
NASHVILLE (AP) - Democratic presidential candidate Hillary Rodham Clinton is making her first Tennessee campaign stops in Memphis and Nashville next month.
NASHVILLE (AP) - Two years after Tennessee proclaimed itself the fastest-improving state for education in the country, that growth has leveled off, according to a national report that concluded the state has seen little to no change in fourth- and eighth-grade math and reading scores over the last two years.
STATE LEGISLATURE
NASHVILLE (AP) - Senate Speaker Ron Ramsey is dismissing rising concerns among fellow Republicans about Gov. Bill Haslam's efforts to privatize elements of state government as a result of complaints from "squeaky wheels" in their districts.
NASHVILLE (AP) — The Tennessee Black Caucus of State Legislators and the NAACP State Conference will host a town hall meeting on Thursday to discuss mass incarceration and its impact on the community.
COURTS
NASHVILLE (AP) — Three state appeals judges appointed by Gov. Bill Haslam were selected Tuesday as finalists to fill a vacancy on the Tennessee Supreme Court.
AUTO INDUSTRY
FRANKFURT, Germany (AP) — Volkswagen reported a loss of 1.67 billion euros ($1.83 billion) for the third quarter as the company set aside 6.7 billion euros to pay for recalling and fixing cars that were rigged to evade U.S. diesel emissions tests.
DETROIT (AP) — Ford is recalling 129,000 midsize SUVs in parts of the U.S. and Canada to fix potential fuel leaks.
DETROIT (AP) — Under pressure from U.S. safety regulators, BMW's Mini brand is recalling more than 86,000 cars because the power steering could fail.
TOKYO (AP) — Visions of cars that drive themselves without emitting a bit of pollution while entertaining passengers with online movies and social media are what's taking center stage at the Tokyo Motor Show.
HEALTH CARE
WASHINGTON (AP) — Americans from across the political spectrum are worried about the cost of prescription drugs for serious diseases, following weeks of news coverage about companies hiking prices for critical medicines.
NATIONAL/INTERNATIONAL BUSINESS
NEW YORK (AP) — The stock market ended solidly higher Wednesday, recovering from an afternoon wobble, after the Federal Reserve indicated that it will consider raising its benchmark interest rate at its December meeting. Bond yields rose and the dollar climbed against other currencies as traders anticipated that higher rates were on the way.
WASHINGTON (AP) — The Federal Reserve is keeping its key short-term interest rate at a record low in the face of a weak global economy, slower U.S. hiring and subpar inflation. But it signaled the possibility of a rate hike in December.
WASHINGTON (AP) — Americans are more likely than they were a year ago to have positive views of the nation's economy, but they're still feeling more pessimism than optimism, according to a new Associated Press-GfK poll conducted ahead of CNBC's GOP primary debate on Wednesday.
WASHINGTON (AP) — WASHINGTON — The U.S. economy has resembled an especially dizzying roller-coaster ride this year, with a hurtling dive followed by a steep climb leading to yet another slide.
NEW YORK (AP) — Activist investor Carl Icahn urged American International Group Inc. to split up into smaller companies Wednesday, saying that the insurance provider is "too big to succeed."
NEW YORK (AP) — Walgreens is buying rival Rite Aid for about $9.41 billion in cash, creating a drugstore giant with nearly 18,000 stores around the world.
NATIONAL POLITICS
WASHINGTON (AP) — House Republicans embraced a new leader Wednesday and prepared to get behind a crisis-averting budget-and-debt deal in a day of dramatic fresh starts at the Capitol after years of division and disarray.
TUESDAY, OCTOBER 27
COURTS
NASHVILLE (AP) — The Tennessee Supreme Court has appointed a task force to review the state's representation of defendants who are unable to afford hiring their own lawyers.
HEALTH CARE
NASHVILLE (AP) - HCA Holdings Inc. (HCA) on Tuesday reported third-quarter profit of $449 million.
REAL ESTATE
WASHINGTON (AP) — U.S. housing appears to be insulated so far from the cooling global economy.
TECHNOLOGY
NEW YORK (AP) — Most home Internet service providers offer unlimited data, but cable giant Comcast is moving in the opposite direction.
AUTO INDUSTRY
NASHVILLE (AP) - Republican Gov. Bill Haslam says Volkswagen should be allowed to address the fallout from its emissions cheating scandal before taking up another union vote at its Tennessee plant.
SMYRNA (AP) — Nissan is launching production of an updated version of the midsized Altima sedan at assembly plants in Smyrna, Tennessee, and Canton, Mississippi.
DETROIT (AP) — For the third time in seven years, General Motors is recalling cars that can leak oil and catch fire, in some instances damaging garages and homes.
DETROIT (AP) — Fiat Chrysler is recalling nearly 94,000 SUVs because the air conditioning lines are too close to the exhaust manifold and could catch fire.
DEARBORN, Mich. (AP) — Pickup trucks powered Ford Motor Co. to record North American results in the third quarter.
NATIONAL/INTERNATIONAL BUSINESS
WASHINGTON (AP) — Americans turned slightly more anxious about the job market this month.
NEW YORK (AP) — Stocks slipped Tuesday afternoon after several U.S. companies delivered disappointing results and forecasts. Energy companies fell more than the rest of the market as the price of crude oil hit two-month lows.
PHILADELPHIA (AP) — Comcast Corp. (CMCSA) on Tuesday reported third-quarter net income of $2 billion.
LONDON (AP) — Charles Kwara and his friends sit around an earthenware pot, sipping a frothy gray drink through long straws as laughter fills the Charismatic Club in the slums of Kampala, Uganda's capital.
LONDON (AP) — Oil giant BP reported a 96-percent drop in third-quarter profit Tuesday and announced further efforts to curtail spending as it prepares for a prolonged period of low oil prices.
NATIONAL POLITICS
WASHINGTON (AP) — Striving to end a cycle of crisis, congressional leaders and the White House united Tuesday behind an ambitious budget and debt deal aimed at restoring a semblance of order to Capitol Hill and ending the threat of government shutdowns and defaults until well after a new president takes office.
MONDAY, OCTOBER 26
MUSIC INDUSTRY
NASHVILLE (AP) — The sound of voices in synch filled the air as two of country music's greatest vocal harmony groups, the Oak Ridge Boys and the Browns, along with the late gifted guitarist Grady Martin were inducted into the Country Music Hall of Fame on Sunday night.
STATEWIDE
NASHVILLE (AP) - A tax break for Tennessee electric cooperatives, enacted by the Legislature in 1988, violates the state constitution, according to an opinion issued last week by Attorney General Herbert Slatery.
NASHVILLE (AP) — The Tennessee Wildlife Resources Agency says grants are available to help cities, civic organizations or other nonprofit agencies plant trees near streams.
NASHVILLE (AP) — The Tennessee Department of Correction says it has launched Operation Blackout, an annual initiative to protect trick-or-treaters from registered sex offenders.
MIDSTATE
MURFREESBORO (AP) — The release of the Tennessee state report card reveals a spike in graduation rates and academic progress at Rutherford County schools.
TECHNOLOGY
ALBANY, N.Y. (AP) — New York's attorney general has asked three major Internet providers to validate claims that customers are getting the access speed promised, especially for premium services.
AUTO INDUSTRY
DETROIT (AP) — A Nissan recall for possible fuel leaks in crashes has been expanded to include nearly 59,000 Altima and Maxima sedans worldwide.
NEW YORK (AP) — Tire and auto service company Bridgestone Corp. is buying auto parts and repair company Pep Boys in for $835 million in a deal that will help Bridgestone gain a more dominant position.
FRANKFURT, Germany (AP) — Volkswagen AG is hiring a top strategy executive from competitor Opel as it seeks to recover from a scandal over its cheating on U.S. diesel emissions tests.
DETROIT (AP) — The United Auto Workers union and General Motors Co. have reached a tentative agreement on a new four-year contract, avoiding a strike for now.
TOKYO (AP) — Toyota was the world's top-selling automaker for the first nine months of this year, selling nearly 7.5 million vehicles, and overtaking Volkswagen which was in the No. 1 spot for the half year.
REAL ESTATE
WASHINGTON (AP) — Sales of new homes plunged sharply in September to the slowest pace in 10 months, as higher prices and slower overall economic growth weigh on the housing market.
NATIONAL/INTERNATIONAL BUSINESS
WASHINGTON (AP) — Not long ago, it seemed a sure bet: The Federal Reserve would raise interest rates by year's end. Fed Chair Janet Yellen herself said she expected it.
NEW YORK (AP) — Many business economists expect modest economic growth for the rest of the year, with only a small percentage taking a more bullish outlook, according to a new survey.
NEW YORK (AP) — Stocks are closing mostly lower as traders look ahead to a busy week of corporate earnings and a Federal Reserve meeting.
LONDON (AP) — There is no let-up in executives' appetite for corporate takeovers despite volatility in the stock market and mounting concerns over the global economy, particularly China.
With online shopping growing, FedEx is bracing for a record volumes this holiday season.
NATIONAL POLITICS
WASHINGTON (AP) — Congressional Republicans are moving to block President Barack Obama's plan to force steep cuts in greenhouse gas emissions from U.S. power plants.
WASHINGTON (AP) — Speaker John Boehner is trying to make one last deal as he heads for the exits, pushing to finalize a far-reaching, two-year budget agreement before handing Congress' top job over to Paul Ryan this week, congressional officials said Monday.
FRIDAY, OCTOBER 23
NASHVILLE AREA
NASHVILLE (AP) — Tennessee State University is joining a consortium of 11 universities and national laboratories to improve the nation's cyber security.
STATEWIDE
NASHVILLE (AP) — Tennessee has once again received top grades from two bond ratings agencies, and an improved outlook from the third.
NASHVILLE (AP) — State officials are encouraging Tennesseans to learn more about their legal options this month.
NASHVILLE (AP) - Tennessee's high school graduation rate improved to 88 percent, the third consecutive year it's increased, but students in earlier grades continue to struggle in reading, according to a state report card released Thursday.
REAL ESTATE
WASHINGTON (AP) — Average long-term U.S. mortgage rates fell this week, marking a 13th straight week below 4 percent and offering an enticement for potential homebuyers.
AUTO INDUSTRY
NASHVILLE (AP) — Maintenance workers at Volkswagen's lone U.S. plant in Tennessee are seeking a new election in two weeks on exclusive union representation by the United Auto Workers.
ORION TOWNSHIP, Mich. (AP) — General Motors Co. says it's cutting the second shift at its Orion Assembly plant in suburban Detroit in a move that's expected to result in about 500 hourly worker layoffs.
NEW YORK (AP) — Silicon Valley may think it can build a better car. But should it?
WASHINGTON (AP) — People whose cars have been recalled to fix air bag inflators made by Takata Corp. should get the repairs done as soon as possible or face the risk of death or injury, U.S. safety regulators said Thursday.
DETROIT (AP) — After some summer gains, Volkswagen's U.S. sales seem to have stalled amid revelations it cheated on emissions tests.
DETROIT (AP) — The United Auto Workers union has approved a new four-year contract with Fiat Chrysler.
TECHNOLOGY
SEATTLE (AP) — Free rent and groceries were selling points, but college freshman Aishwarya Mandyam was more excited about the chance to connect with like-minded women when she moved into the eight-bedroom house offered up by a Seattle software startup.
NATIONAL/INTERNATIONAL BUSINESS
NEW YORK (AP) — Maybe you shouldn't have put your money under a mattress after all.
U.S. stocks closed higher on Friday, delivering their second gain in two days and pushing the Standard & Poor's 500 index back into positive territory for the year.
NEW YORK (AP) — Amazon is Primed for success as the busy holiday season approaches. The e-commerce powerhouse reported a surprise third-quarter profit, driven by a boost in revenue from its Prime Day promotion and continued strong growth in its cloud-computing offerings.
SAN FRANCISCO (AP) — After laying off more than 300 workers, Twitter CEO Jack Dorsey is trying to lift the spirits of the remaining employees by giving them 6.8 million shares of the stock he owns in the online messaging service.
BONN, Germany (AP) — The trillion-dollar question of who should pay for global warming is coming to a head in talks on an international climate pact, as developing countries worry they won't get enough money to tackle the problem.