VOL. 39 | NO. 38 | Friday, September 18, 2015
STREET LEVEL
Chef Edgar Pendley says he burns “a lot of diesel making sure we got good produce” for the folks in the 12South neighborhood, as well as those who may stop to purchase tomatoes, sweet corn, okra and even his own homemade bacon and sausage on their way home from work.
REALTY CHECK
As the sun sets on Mayor Karl Dean’s administration, we in the real estate community are extremely appreciative of the leadership he and his administration provided during the past eight years.
REAL ESTATE
Top residential real estate transactions, August 2015, for Davidson, Williamson, Rutherford, Wilson and Sumner counties, as compiled by Chandler Reports.
A look at Davidson County’s top lenders based on total number of all loans, commercial and residential.
WASHINGTON (AP) — For the second straight week, average long-term U.S. mortgage rates inched up this week as financial markets awaited the Federal Reserve's crucial decision on interest rates.
TENNESSEE TITANS
In the wake of such a successful start, it is difficult not to hail Marcus Mariota as the “next big thing” and the savior of the Tennessee Titans franchise.
UT SPORTS
Talk about taking the wind out of Neyland Stadium and UT fans, Oklahoma sure did it last Saturday.
NEWSMAKERS
House Speaker Beth Harwell has appointed Paul Ney, a partner in the Nashville law firm of Patterson Intellectual Property Law, P.C., to the LaunchTN board of directors.
BEHIND THE WHEEL
The Ford Edge sport utility vehicle received its first major overhaul in 2015 and is now bigger, sleeker and quieter than before.
GUERRILLA MARKETING
Perhaps Benjamin Franklin summarized a major business challenge best: “When you’re finished changing, you’re finished.”
THE WORLDLY INVESTOR
Entering 1998, the U.S. economy was on a tear. U.S. GDP growth was running 4-plus percent and the unemployment rate was 4.5 percent.
FAMILY TRAVEL
If you’re considering traveling this fall you won’t be the only one flying the friendly skies or getting in the car for a road trip, according to U.S. travel consumer research firm D.K. Shifflet & Associates.
I SWEAR
A while back I wrote that I’m thinking of shuttering the I Swear Crossword and column at year’s end.
KAY'S COOKING CORNER
This past weekend, my daughter, son-in-law and three grandchildren came to visit us for a few days. In our new “down-sized home,” things were loud and rowdy, as you can expect. But it was fun, and everyone seemed to fit in quite comfortably.
NASHVILLE AREA
NASHVILLE (AP) — A new exhibit at the Tennessee State Library and Archives in Nashville highlights the New Deal's impact on Tennessee.
REAL ESTATE
WASHINGTON (AP) — Buoyed by steady job gains and low mortgage rates, Americans purchased new homes in August at the fastest pace in more than seven years.
WASHINGTON (AP) — Average long-term U.S. mortgage rates declined this week following the Federal Reserve's decision to keep interest rates at record lows for now.
AUTO INDUSTRY
ALCOA (AP) — Aluminum producer Alcoa is celebrating the $300 million expansion of its automotive body sheet facility in East Tennessee.
NASHVILLE (AP) - As an emissions cheating scandal engulfs the German automaker Volkswagen, Tennessee officials are trying to soothe fears about the potential impact on the company's Chattanooga factory, the crown jewel of the state's economic development efforts of the last decade.
BIRMINGHAM, Ala. (AP) — Workers at an automotive components manufacturing plant in northeast Alabama voted to join a labor union Wednesday, citing issues such as wage caps and growing use of temporary workers.
BERLIN (AP) — The software at the center of Volkswagen's emissions scandal in the U.S. was built into the automaker's cars in Europe as well, though it isn't yet clear if it helped cheat tests as it did in the U.S., Germany said Thursday.
LOS ANGELES (AP) — Bob Rand bought his Volkswagen Passat last year for its clean emissions and high gas mileage. He liked the car so much he convinced his son and a friend to buy one, too.
DETROIT (AP) — Ford's Super Duty trucks are getting a new aluminum body, just like their smaller sibling, the Ford F-150 pickup.
NATIONAL/INTERNATIONAL BUSINESS
NEW YORK (AP) — U.S. stocks are sinking in midday trading, led by slumps in health care and industrial companies.
Caterpillar is planning another round of job cuts that could exceed 10,000 people through 2018, as the construction and mining equipment maker adjusts to downturns in key markets that it serves.
WASHINGTON (AP) — The number of Americans seeking unemployment benefits rose slightly last week yet remained at a low level consistent with solid job growth.
WASHINGTON (AP) — Orders for long-lasting U.S. manufactured goods dropped in August with weakness in a key category that tracks business investment plans.
SAN FRANCISCO (AP) — Nasdaq has long been known as the "tech-heavy" stock exchange, where some of Silicon Valley's best-known companies have gone to sell shares. Now, as it faces stiff competition from rival exchanges to lure the next hot IPO, it's reaching out to business startups before they go public.
NATIONAL POLITICS
WASHINGTON (AP) — The Senate is preparing to vote on legislation that would keep the government open beyond next Wednesday's deadline at a price Democrats are certain to reject — stripping taxpayer money from Planned Parenthood.
WEDNESDAY, SEPTEMBER 23
STATEWIDE
NASHVILLE (AP) — Tennessee's community and technical colleges are encouraging high school seniors to sign up for the governor's free tuition program this Saturday.
HEALTH CARE
WASHINGTON (AP) — Hillary Rodham Clinton proposed a series of steps on Wednesday to lessen the burden of out-of-pocket medical bills for Americans covered by President Barack Obama's health care law.
AUTO INDUSTRY
BERLIN (AP) — Volkswagen CEO Martin Winterkorn resigned Wednesday, days after admitting that the world's top-selling carmaker had rigged diesel emissions to pass U.S. tests during his tenure.
NATIONAL/INTERNATIONAL BUSINESS
NEW YORK (AP) — Stocks are ending mostly lower, led by another drop in materials and energy companies as worries about global growth continue.
SEATTLE (AP) — When Chinese President Xi Jinping addresses a meeting of some of the top names in Chinese and American business Wednesday, they may be most interested what he says about progress toward a treaty between the nations that would provide a framework for broader investment in each other's economy.
PARAMUS, N.J. (AP) — Expect to see a lot of Michelangelo, Donatello, Leonardo and Raphael this Halloween.
NATIONAL POLITICS
WASHINGTON (AP) — Whether it was by coincidence or not, Hillary Rodham Clinton picked a fortuitous time to announce that she opposes the Keystone XL pipeline.
WASHINGTON (AP) — Rank-and-file Republican lawmakers are protesting the tactics of tea party colleagues who demand that legislation to keep the government open also take away federal funding for Planned Parenthood.
TUESDAY, SEPTEMBER 22
STATEWIDE
NASHVILLE (AP) - Tennessee Gov. Bill Haslam has named David Smith as his communications director.
NASHVILLE (AP) — A recent report shows Tennessee attorneys have increased the number of hours of free and reduced-rate legal services they provide to those in need.
AUTO INDUSTRY
NASHVILLE (AP) - A state senator is urging legislative hearings over the Volkswagen emissions scandal be held in Tennessee, the home of the German automaker's lone U.S. plant.
BERLIN (AP) — Volkswagen AG's smog-test scandal escalated Tuesday as the company issued a profit warning, set aside billions to cover the fallout and lost billions more in market value. VW's CEO said he is "endlessly sorry" that the world's top-selling carmaker has squandered worldwide trust in its brand.
German automaker Volkswagen AG admits that it rigged U.S. emissions tests so it would appear that its diesel-powered cars were emitting fewer nitrogen oxides, which can contribute to ozone buildup and respiratory illness.
HEALTH CARE
Employers are leaving a bigger chunk of the bill for care to workers who use their health insurance, and benefits experts see few signs of this trend slowing.
WASHINGTON (AP) — Leaders of two major health insurers planning multibillion dollar acquisitions made their case to Congress that bigger can mean better in their industry, but concerns are being raised in Washington about how these deals will affect consumers and competition.
WASHINGTON (AP) — A major report predicts most people will experience at least one wrong or delayed diagnosis in their lifetime.
REAL ESTATE
WASHINGTON (AP) — U.S. home rents rose at a slower pace in August, a downshift that may reflect the rise of apartment construction in many major cities.
TECHNOLOGY
HELSINKI (AP) — Micha Benoliel grew up in France and launched his first technology startup there, but he never forgot the atmosphere of adventure and optimism in San Francisco, where he studied in the early 1990s.
NEW YORK (AP) — Photography gets even better with Apple's new iPhones.
NATIONAL/INTERNATIONAL BUSINESS
NEW YORK (AP) — Stocks are closing sharply lower as materials companies sink along with the prices of oil and copper.
NATIONAL POLITICS
DES MOINES, Iowa (AP) — Vowing to build upon President Barack Obama's signature health law, Hillary Rodham Clinton is unveiling a sweeping plan to hold down the rising cost of prescription drugs and target pharmaceutical companies that flood the airwaves with ads.
MONDAY, SEPTEMBER 21
NASHVILLE AREA
NASHVILLE (AP) - The president of Fisk University has resigned. The university announced the resignation of H. James Williams on Monday. Williams has been in the post less than three years.
STATEWIDE
NASHVILLE (AP) - Three outsourcing consultants are being paid $612,000 annually by the state even as Republican Gov. Bill Haslam insists that no decision has been made about privatization efforts.
AUTO INDUSTRY
BERLIN (AP) — Volkswagen's chief executive was under withering pressure Monday as an emissions-testing scandal erased more than 13 billion euros (around $15 billion) from the company's market value in a single trading session.
WASHINGTON (AP) — The CEO of Volkswagen apologized Sunday and VW customers said they felt duped after the Environmental Protection Agency revealed that the German automaker skirted clean air rules by rigging emissions tests for about 500,000 diesel cars.
TECHNOLOGY
SAN FRANCISCO (AP) — Apple is speeding up work on a project that could lead to the California tech giant building its own electric car, according to a new report.
BEIJING (AP) — Apple Inc. has removed some applications from its App Store after developers in China were tricked into using software tools that added malicious code in an unusual security breach.
SEOUL, South Korea (AP) — Security researchers say they found critical weaknesses in a South Korean government-mandated child surveillance app — vulnerabilities that left the private lives of the country's youngest citizens open to hackers.
REAL ESTATE
WASHINGTON (AP) — U.S. home sales slid in August by the most since January as tight supplies and rising prices discouraged potential buyers.
NATIONAL/INTERNATIONAL BUSINESS
NEW YORK (AP) — U.S. stocks are closing higher as investors try to look beyond the uncertain timing of a possible interest rate increase by the Federal Reserve.
FRIDAY, SEPTEMBER 18
STATEWIDE
NASHVILLE (AP) — Republican Gov. Bill Haslam insisted Thursday that he has no "bias" toward privatizing state government activities.
AUTO INDUSTRY
WASHINGTON (AP) — The Environmental Protection Agency on Friday ordered Volkswagen to fix nearly 500,000 VW and Audi diesel cars that the agency said are intentionally violating clean air laws by using software that evades EPA emissions standards.
NEW YORK (AP) — General Motors agreed to pay $900 million to fend off criminal prosecution over the deadly ignition-switch scandal, striking a deal that brought criticism down on the Justice Department for not bringing charges against individual employees.
General Motors was the subject of multiple government investigations and hundreds of civil lawsuits for taking more than a decade to recall 2.6 million cars with a deadly ignition switch defect.
NEW YORK (AP) — Toyota is recalling about 421,000 RAV4 vehicles because of potential corrosion in their windshield wipers could make them inoperable.
NATIONAL/INTERNATIONAL BUSINESS
NEW YORK (AP) — Fears over slowing global growth hammered stocks in the U.S. and Europe on Friday and lifted prices of government bonds and other assets seen as safer bets.
WASHINGTON (AP) — Rising home values drove a modest increase in Americans' household wealth to a new high of $85.7 trillion in the April-June quarter.
WASHINGTON (AP) — An index of future U.S. economic health edged up slightly in August after a flat reading in July. The outcome in both months signaled economic growth could be moderating.
WASHINGTON (AP) — So what will it take for the Federal Reserve to finally raise interest rates?
WASHINGTON (AP) — The Federal Reserve ended weeks of speculation Thursday by keeping U.S. interest rates at record lows in the face of threats from a weak global economy, persistently low inflation and unstable financial markets.
WASHINGTON (AP) — The Federal Reserve's decision Thursday to hold a key interest rate at historic lows will extend a period of tense speculation among investors.
NATIONAL POLITICS
WASHINGTON (AP) — The Democratic leaders of the House and Senate plan to huddle with President Barack Obama on Thursday to discuss strategy as Congress prepares for some momentous decisions on how best to keep the federal government operating.