VOL. 39 | NO. 22 | Friday, May 29, 2015
REALTY CHECK
As has been documented, there are more buyers than sellers these days, hence more demand than supply.
UT SPORTS
Haley Bearden will watch every pitch this weekend as the University of Tennessee softball team pursues its ultimate goal in the NCAA Women’s College World Series.
NEWSMAKERS
The Tennessee Latin American Chamber of Commerce has selected five new board members, as well as a new team of executive leadership, led by chairman of the board and TLACC President Marcela Gómez.
BEHIND THE WHEEL
It took a price cut to generate a run on Chevrolet’s 2015 Spark EV, with savvy car buyers realizing the lower price and federal electric vehicle tax credit can make for a super deal.
BUSINESS BOOK REVIEW
Your reservations have been made. In today’s business environment, a work-trip is a treat and you’re determined to make the most of this one. Booking a nice hotel was the first step but, aside from amenities, did you ever consider the hotel itself? Or the industry as a whole? Read “Hotel Life” by Caroline Field Levander & Matthew Pratt Guterl, and you will…
GUERRILLA MARKETING
Roughly 75 million strong, millennials are on a course to soon surpass their baby boomer parents as our nation’s largest living generation.
THE WORLDLY INVESTOR
There are factors conspiring in the market’s industrial kitchen right now that might lead to a fit of indigestion for investors. This week, we will look at the three main ingredients and discuss how to medicate.
CAREER CORNER
In the past two decades, the way we communicate has completely changed.
I SWEAR
My great-great-great-great grandfather Elijah Fleming had eight kids and no middle name.
KAY'S COOKING CORNER
I received a magazine offer from Nutrition Action. Being a food editor, I’m always receiving mail from various food magazines and emails about new restaurants, cookware, food, etc. They all ask me to write about their openings, their books and articles, or the chefs. I, however, want to retire. Wishful thinking, I’m afraid.
STATEWIDE
KNOXVILLE (AP) — The truck stop chain owned by the family of Gov. Bill Haslam is reviewing whether to offer wine and high-alcohol beer at its Tennessee stores under a new state law.
MIDSTATE
NASHVILLE (AP) - A leading bakery products producer is investing $103 million to open a new manufacturing facility in Wilson County that's expected to create 147 jobs.
TECHNOLOGY
SAN FRANCISCO (AP) — Google co-founder Sergey Brin says he sees little reason to release the accident reports involving the Internet company's self-driving cars because he believes there's nothing new in documents withheld to protect the privacy of other motorists.
Looking for a new app for making "to-do" lists on your Apple or Android phone? You could use Apple's Reminders or Google's Keep. But Microsoft is hoping you'll try Wunderlist, created by a German tech startup that Microsoft bought this week.
REAL ESTATE
WASHINGTON (AP) — Average long-term U.S. mortgage rates were flat to slightly lower this week, remaining near their highest levels so far this year.
NATIONAL/INTERNATIONAL BUSINESS
WASHINGTON (AP) — The International Monetary Fund urged the Federal Reserve to wait until the first half of 2016 to start raising short-term interest rates because the U.S. economy remains subpar.
WASHINGTON (AP) — U.S. worker productivity declined more sharply in the first three months of the year than previously thought while labor costs rose more quickly.
WASHINGTON (AP) — Fewer Americans sought unemployment benefits last week, a sign that job cuts remain low as employers are confident enough in the business outlook to hold onto their staffs.
NEW YORK (AP) — U.S. stocks followed European markets lower on Thursday as a deadline approached in Greece's debt talks. Greece remained stuck in negotiations with its creditors over releasing more emergency funds ahead of a debt payment due Friday.
NATIONAL POLITICS
WASHINGTON (AP) — President Barack Obama's make-or-break push for expanded trade is meeting stiff resistance from fellow Democrats in the House, the very lawmakers who helped him claim crucial wins on health care and other issues.
WEDNESDAY, JUNE 3
STATEWIDE
NASHVILLE (AP) - Under a new state law, Tennessee retailers will have to charge smokers at least 15 percent more than the wholesale cost. The surcharge is theirs to keep.
HEALTH CARE
WASHINGTON (AP) — The GOP-controlled House voted Wednesday to prevent the federal government from blocking state laws that permit the use of medical marijuana.
AUTO INDUSTRY
COLUMBIA, S.C. (AP) — The incentives package that brought Volvo to South Carolina could cost taxpayers an additional $87 million if the state pays for promised infrastructure improvements entirely the way Gov. Nikki Haley wants.
NATIONAL/INTERNATIONAL BUSINESS
NEW YORK (AP) — U.S. stocks are closing modestly higher as investors welcome encouraging news about the job market.
LOS ANGELES (AP) — The City Council voted 13-1 on Wednesday to raise the minimum wage in Los Angeles to $15 an hour by 2020, but a second vote is required for final approval because the tally was not unanimous.
WASHINGTON(AP) — The U.S. economy was growing at a moderate pace in most regions of the country in April and May, as consumers ramped up spending at retailers and auto dealers, the Federal Reserve said Wednesday.
WASHINGTON (AP) — U.S. service firms grew in May at the slowest pace in a year, as both new orders and hiring slipped.
BOSTON (AP) — Harvard University has received its biggest gift in school history — a $400 million donation from a prominent Wall Street investor.
NEW YORK (AP) — If you want an income, or you're an employer looking for help, it may be time to scrap the idea of the traditional 9-to-5 arrangement.
WASHINGTON (AP) — U.S. companies stepped up hiring in May, a private survey found, evidence that employers remain confident in the economy even after it contracted at the start of the year.
WASHINGTON (AP) — The U.S. trade deficit declined sharply in April as exports posted a modest gain and imports fell, raising hopes that trade's drag on economic growth will ease in the current quarter.
PARIS (AP) — The world economy risks being bogged down in a low growth spiral unless measures are taken to spur demand and incite businesses to boost their stubbornly sluggish investments.
FRANKFURT, Germany (AP) — The European Central Bank kept its key interest rate on hold Wednesday, as expected, leaving investors to look ahead to President Mario Draghi's comments due later, particularly for any news about Greece.
TUESDAY, JUNE 2
NASHVILLE AREA
GOODLETTSVILLE (AP) — Dollar General's fiscal first-quarter profit topped Wall Street's expectations, and a key sales measurement rose thanks to better traffic and shoppers spending more per transaction.
NASHVILLE (AP) — Tennessee Titans tight end Delanie Walker and his teammates are hosting a free youth football camp in Nashville.
STATEWIDE
NASHVILLE (AP) - A Chattanooga television station won't run an advertisement in support of gay marriage.
MEMPHIS (AP) — First Tennessee Bank has agreed to pay the U.S. government $212.5 million after admitting to making bad mortgage loans that left taxpayers footing the bill.
NASHVILLE (AP) — A global paper products manufacturer is investing $270 million to expand its current operations in McMinn County and create more than 100 jobs.
AUTO INDUSTRY
DETROIT (AP) — U.S. auto sales were stronger than expected in May, boosted by Memorial Day promotions and strong demand for new SUVs.
SAN JOSE, Calif. (AP) — Twelve years ago, Ian Wright and some fellow engineers launched Tesla Motors, a Silicon Valley company that has helped jumpstart the market for electric cars.
DEARBORN, Mich. (AP) — Ford will shorten the traditional summer shut-down at some of its plants for the third consecutive year to meet rising demand.
HEALTH CARE
Dozens of health insurers say higher-than-expected care costs and other expenses blindsided them this year, and they're going to have to hike premiums for individual policies well-beyond 10 percent for 2016.
WASHINGTON (AP) — The makers of a pill intended to boost sexual desire in women will try again this week to persuade regulators that the drug warrants approval after two rejections.
REAL ESTATE
SAN FRANCISCO (AP) — Check out rental sites for San Francisco, especially the trendier parts: Well over $3,000 a month for a one-bedroom flat and nearly $5,000 for two bedrooms.
WASHINGTON (AP) — Al and Saundra Karp have found an unconventional way to raise money and help save their Miami-area home from foreclosure: They're lining up gigs for their family jazz band.
NATIONAL/INTERNATIONAL BUSINESS
WASHINGTON (AP) — U.S. factory orders tumbled in April, a sign that manufacturers are struggling amid a stronger dollar and cheaper oil.
NEW YORK (AP) — The stock market remains stuck in a rut. On Tuesday, U.S. stocks ended the day with a slight loss as gains for the energy sector were offset by a slump in utilities.
NEW YORK (AP) — Pinterest users will be able to buy items they like using a new type of pin, e-commerce company Shopify said Tuesday.
MONDAY, JUNE 1
NASHVILLE AREA
NASHVILLE (AP) — John C. Tune Airport in Nashville is closing for two months for renovations and airfield reconstruction projects.
STATEWIDE
NASHVILLE (AP) - More than 20,000 Tennessee Promise students plan to use the scholarship to attend a community or technical college in the fall.
NASHVILLE (AP) — The State Collaborative on Reforming Education recently selected 26 teachers for the new class of the Tennessee Educator Fellowship.
COURTS
WASHINGTON (AP) — The Supreme Court on Monday threw out the conviction of a Pennsylvania man convicted of making threats on Facebook, but dodged the free speech issues that had made the case intriguing to First Amendment advocates.
WASHINGTON (AP) — The Supreme Court ruled Monday for a Muslim woman who did not get hired after she showed up to a job interview with clothing retailer Abercrombie & Fitch wearing a black headscarf.
REAL ESTATE
WASHINGTON (AP) — U.S. construction spending climbed in April to the highest level in more than six years, fueled by healthy gains in housing, government spending and non-residential construction.
AUTO INDUSTRY
WYOMING, Mich. (AP) — General Motors Co. plans to invest $119 million in tools and equipment to support production of future vehicle components in western Michigan.
TECHNOLOGY
SAN FRANCISCO (AP) — Google is making its privacy controls easier to find and understand in an attempt to make the more than 1 billion users of its digital services more comfortable about the personal information that they give the Internet's most powerful company.
NATIONAL/INTERNATIONAL BUSINESS
WASHINGTON (AP) — U.S. manufacturing growth accelerated in May for the first time in six months, propelled by more new orders and an increase in hiring.
NEW YORK (AP) — U.S. stocks are closing modestly higher after some encouraging economic reports and a big acquisition in the semiconductor industry.
WASHINGTON (AP) — U.S. consumers held back from spending more in April, deciding instead to channel income gains into savings.
NATIONAL POLITICS
BONN, Germany (AP) — The global climate agreement being negotiated this year must be worded in such a way that it doesn't require approval by the U.S. Congress, the French foreign minister said Monday.
WASHINGTON (AP) — After several near-death experiences in the Senate, the trade agenda that President Barack Obama is pushing as a second term capstone faces its biggest hurdle yet in the more polarized House.
FRIDAY, MAY 29
NASHVILLE AREA
NASHVILLE (AP) — The Nashville Public Education Foundation is hosting an event on Saturday to discuss ways to support and improve public schools.
NASHVILLE (AP) — Discount retailer Dollar General has named a new chief executive officer.
STATEWIDE
NASHVILLE (AP) — For decades, the Tennessee governor's office has assembled a carefully curated daily summary of political and government news from around the state. No longer.
NASHVILLE (AP) — A declared Republican presidential candidate and a likely one are making Tennessee appearances in the coming days.
AUTO INDUSTRY
NEW YORK (AP) — General Motors may need to consider big strategic changes like a merger or partnership with a competitor, a Morgan Stanley analyst said Thursday.
REAL ESTATE
WASHINGTON (AP) — Americans signed contracts to buy homes in April at the fastest pace in nearly nine years, evidence that steady job growth is strengthening the real estate market.
WASHINGTON (AP) — Average long-term U.S. mortgage rates rose this week to their highest level so far this year as new data showed strength in the housing market.
TECHNOLOGY
SAN FRANCISCO (AP) — Google is willing to store and organize all of the world's digital photos and videos for free.
SAN FRANCISCO (AP) — Google's next version of its Android operating system will boast new ways to fetch information, pay merchants and protect privacy on mobile devices as the Internet company duels with Apple in the quest to make their technology indispensable.
NEW YORK (AP) — The head of the Federal Communications Commission is proposing that the government agency expand a phone subsidy program for the poor to include Internet access.
COURTS
NASHVILLE (AP) - The Tennessee Supreme Court heard arguments on Thursday before a gallery filled with hundreds of high school girls.
WASHINGTON (AP) — Obama administration attorneys urged a federal judge Thursday to throw out a politically charged lawsuit by House Republicans over the president's health care law, but encountered plenty of skeptical questions.
NATIONAL/INTERNATIONAL BUSINESS
NEW YORK (AP) — Stocks sank Friday following news that the U.S. economy shrank in the first three months of the year.
WASHINGTON (AP) — A weak U.S. economy pulled down consumer sentiment in May.
WASHINGTON (AP) — The U.S. economy shrank at a 0.7 percent annual rate in the first three months of the year, depressed by a severe winter and a widening trade deficit.
NEW YORK (AP) — Female CEOs are outpacing their male colleagues in pay, although they remain vastly outnumbered in the top echelons of American companies.
WASHINGTON (AP) — Another first quarter of the year. Another reversal for the U.S. economy. Another expectation of a rebound to come.