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VOL. 36 | NO. 17 | Friday, April 27, 2012

Cash Business

Man in Black’s brand stronger than ever thanks to strategy he laid out before his 2003 death

Pride flavors John Carter Cash’s voice when talking about the giant shadow his father continues to cast – commercially and culturally – almost nine years after his death and in the year in which he would have turned 80.

Producer keeps new Cash releases flowing

Music archaeologist Gregg Geller – a producer who relishes in the reclamation or discovery of lost and oft-blemished treasures from the archival tape vaults – took the trip of his lifetime to Hendersonville in 2005.

Museum sparked by toss of a single harmonica

Since the day Johnny Cash tossed him a harmonica from the stage in Denver, Colo., Bill Miller has been hooked.


Friends see a need, turn it into a mission

When Mark Thien set out on a camping trip with some buddies to an island Percy Priest Lake in 2007, he was in for an unexpectedly rude awakening. The closer they got, the more excited they became. But when they landed and got off the boat, the illusion of the gorgeous private island they had in their mind was shattered.

Local Weather
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Excellence in Development Awards. The Urban Land Institute Nashville District Council will honor local projects during its fourth annual Excellence in Development Awards. The awards recognize innovation in land use and design, design excellence, contribution to the community, reflection of the regional character, public/private partnership, environmental sensitivity and financial viability of local developments. 5:30-7 p.m., The Pinnacle at Symphony Place, 150 3rd Avenue South. Information: nashville.uli.org/, 497-2603.

more events »


12South a top pick in 2012 real estate draft

Mayor Karl Dean spoke to members of the Greater Nashville Association of Realtors (GNAR) last week at its membership luncheon. With some 400 Realtors on hand, he announced three upcoming events that he felt were of importance to the community.


Real estate trends for March 2012

March 2012 sales statistics for Davidson, Williamson, Rutherford and Wilson counties, as compiled by Chandler Reports.

Top residential home sales for March 2012

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


FirstBank hires Oakley as Middle Tennessee president

FirstBank has announced that Allen K. Oakley will join the bank as its new president for Middle Tennessee, with authority over banking operations in Nashville and surrounding counties.


Turn dreams into reality

So what are you gonna do after college?


Avoid too many Apples in your portfolio diet

Apples to Oranges Investors and media have run out of superlatives to describe Apple Inc. Not only has Apple become the biggest investment story, it has also become the world’s most highly valued company. Today Apple represents 4.4 percent of the S&P 500 and 16 percent of the Nasdaq composite index.


How to spot great sales talent

Sales skills can be taught. The idea that successful salespeople are “born that way” is simply a myth. Few are. It’s a learned skill – one crafted and honed through years of practice.


You teach what you allow

The next time you catch yourself complaining about co-workers’ behavior in the workplace, pause and think, “Am I doing something to teach or encourage those around me to behave in this way?” In general, we teach what we allow.


Alaskan police reporter has way with words

Last week we took a peek at the police blotter work of Sgt. Jennifer Shockley of the Unalaska, Alaska, police. Sgt. Shockley has been featured on NPR, KTUU-TV in Anchorage and on KUCB radio in Unalaska. Shockley is clearly a wry and witty word wizard if not, as the TV piece suggested, a frustrated writer.


Barley high in fiber, protein

“Where are you bound my pretty maid


HCA Holdings 1Q profit more than doubles

NASHVILLE (AP) - HCA Holdings Inc., the operator of the largest U.S. hospital chain, said Thursday its profit more than doubled in the first quarter on a revenue adjustment from Medicare and a decrease in one-time costs.

Tractor Supply boosts dividend to 20 cents

BRENTWOOD (AP) - Tractor Supply Co. said Thursday that its board boosted the farm equipment retailer's quarterly cash dividend by 8 cents, or 67 percent, to 20 cents.

Frist gets United Way Lifetime Achievement Award

NASHVILLE (AP) — Dr. Thomas F. Frist Jr., a founding member of Hospital Corporation of America, has received the inaugural United Way Lifetime Achievement Award in Nashville.


Early start to crop year could point to profits

NASHVILLE (AP) — Record March warmth and not too much April rain have the crop year in Tennessee off to great start. The only stinkers were overnight freezes in April that seriously damaged some grape crops and frost burned some early sweet corn.

Shares of Regal Entertainment rises on 1Q beat

KNOXVILLE (AP) — Shares of Regal Entertainment Group rose 6 percent on Wednesday, a day after the movie theater operator reported better-than-expected first-quarter results as more Americans went to the movies and snacked on popcorn and soda.

VW Chattanooga wins environmental award

CHATTANOOGA (AP) — Volkswagen Chattanooga has been awarded a Gold 2012 Edison Green Award for environmental and sustainability achievements at its plant.


Report: Facebook stock to price up to mid $30s

NEW YORK (AP) — A published report says Facebook is seeking a valuation of $85 billion to $95 billion when it goes public in a few weeks.

US stocks dip after conflicting economic reports

Wall Street gnawed on a muddle of economic data and corporate earnings Thursday, pushing stocks lower after a brief rise.

US rate on 30-year mortgage hits record 3.84 pct.

WASHINGTON (AP) — Average U.S. rates for 30-year and 15-year fixed mortgages fell to fresh record lows this week, offering more incentive for Americans to buy or refinance homes.

US applications for unemployment aid drop sharply

WASHINGTON (AP) — The number of people seeking unemployment benefits fell last week by the most in more than three months. The figure was a hopeful sign one day before the government releases the April jobs report.

US service companies expand at slower pace

WASHINGTON (AP) — U.S. service companies, which employ roughly 90 percent of the work force, expanded more slowly in April. Companies saw less growth in new orders and hired at a weaker pace.

April retail sales worst since 2009

NEW YORK (AP) — Americans' spending — much like the economy — continues to yo-yo.

US worker output fell in Q1 by most in a year

WASHINGTON (AP) — U.S. worker productivity fell from January through March by the most in a year.

North America boosts GM's first-quarter results

DETROIT (AP) — High costs and falling sales in Europe weighed on General Motors' first-quarter profit.

Viacom 2Q earnings up 56 percent

NEW YORK (AP) — Viacom Inc., the owner of Paramount Pictures, MTV and Comedy Central, on Thursday said its net income rose 56 percent in the latest quarter, even though a slate of movies that was lackluster compared with last year held back revenue.

Pepsi brings back Michael Jackson in ads

NEW YORK (AP) — PepsiCo Inc. is going on a reunion tour with The King of Pop.


Medicare disruptions seen if health law is struck

WASHINGTON (AP) — Medicare's payment system, the unseen but vital network that handles 100 million monthly claims, could freeze up if President Barack Obama's health care law is summarily overturned, the administration has quietly informed the courts.

Obama, Romney star power shines on businesses

WASHINGTON (AP) — Call it the Obama effect: A presidential visit can be good advertising for restaurants and businesses.

Democrats in GOP-leaning House races may aid Obama

DES MOINES, Iowa (AP) — Republican-leaning areas in states vital to President Barack Obama's re-election prospects are drawing top-tier Democratic congressional candidates who, even if they lose, could help turn out the vote and boost Obama's chances of winning a second term.

Battle begins between Obama, Republican super PACs

NEW YORK (AP) — It's on.


Exclusive Belle Meade club grants woman membership

NASHVILLE (AP) - For the first time in its 111-year history, the Belle Meade Country Club has granted full membership to a woman.

Former NFL player sentenced for fraud scheme

JACKSON, Miss. (AP) — Former NFL football player Jeffrey Walker is going to prison for defrauding investors in four states of more than $2 million in what prosecutors say was a land development scheme involving property in China.


Haslam won't sign foreign charter school limits

NASHVILLE (AP) - Gov. Bill Haslam says he will allow a bill seeking to limit the number of foreign workers at charter schools to become law without his signature.

Lawmakers adjourn session without gun showdown

NASHVILLE (AP) — The 107th Tennessee General Assembly adjourned Tuesday without a final showdown over a contentious gun issue and the governor said he will decide in the next couple of days whether to veto a bill targeting Vanderbilt University's policies on religious student groups.

Health care compact falls short in House

NASHVILLE (AP) — A proposal that would allow Tennessee to join an interstate compact challenging the federal health care law failed in the House on Tuesday after about 28 members were either absent or abstained on the vote.

Roll-your-own cigarette bill headed to governor

NASHVILLE (AP) — A proposal that would require roll-your-own cigarette retailers to pay a licensing fee and tax and adhere to certain restrictions is headed to the governor for his consideration.


Bad news about jobs spooks markets

NEW YORK (AP) — When jobs fall, the stock market follows.

Comcast 1Q earnings up 30 percent

NEW YORK (AP) — Comcast Corp., the country's largest cable company, reported a 30 percent profit increase in the first quarter, beating expectations on the strength of Super Bowl advertising and its popular broadband service.

Time Warner 1Q results beat Street on TV, movies

NEW YORK (AP) — Time Warner Inc. said Wednesday that its first-quarter earnings fell 11 percent, but adjusted income beat Wall Street's expectations on the strengths of the company's television and movie studio businesses.

Wal-Mart paying $4.8M for overtime violations

WASHINGTON (AP) — Wal-Mart Stores Inc. will pay $4.8 million in back wages and damages to more than 4,500 employees nationwide for unpaid overtime, The Labor Department said Tuesday.

Private survey shows US hiring slowed last month

WASHINGTON (AP) — A private survey shows U.S. businesses sharply reduced hiring in April, a troubling sign two days before the government reports on monthly job growth.


SPIN METER: Romney used fees to close budget gap

WASHINGTON (AP) — Mitt Romney's boast that he closed a $3 billion budget gap as Massachusetts governor without raising taxes is a cornerstone of his White House campaign, a way to highlight his pitch for lower taxes and leaner government in a race where federal budget deficits and the slumping economy are hot issues.

Supreme Court ratings down in Pew poll

WASHINGTON (AP) — A new survey finds the Supreme Court's popularity is at a 25-year low, though still much higher than that of Congress.


Casada abandons last-minute campaign finance bill

NASHVILLE (AP) - State Rep. Glen Casada has abandoned his last-minute attempt to pass a measure to lift a cap on how much money legislative candidates can accept from political action committees.

House sends welfare drug testing bill to governor

NASHVILLE (AP) - The House on Tuesday passed a bill to implement a suspicion-based drug testing program for welfare recipients in Tennessee.

Tenn. House passes health care compact measure

NASHVILLE (AP) - A proposal that would allow Tennessee to join an interstate compact challenging the federal health care law has been approved by the House after the chamber approved several changes sponsored by Democrats.

Bill to overhaul TRA passes House 60-28

NASHVILLE (AP) - Gov. Bill Haslam's proposal to overhaul the Tennessee Regulatory Authority passed the House on Tuesday despite criticism that it's unnecessary.

Lawmakers intent on ending session today

NASHVILLE (AP) — Heavy debate on a series of bills in the House has delayed the conclusion of the 107th General Assembly.

Lawmakers send budget compromise to governor

NASHVILLE (AP) — The state's more than $31 billion annual spending plan is headed to the governor after Republicans rejected Democratic efforts to make further changes to the compromise legislation.

Roll-your-own cigarette bill passes House

NASHVILLE (AP) — A measure that would require roll-your-own cigarette retailers to pay a licensing fee and tax and adhere to certain restrictions has passed the House.

House, Senate OK bill targeting Vanderbilt policy

NASHVILLE (AP) — Lawmakers have given final approval to a bill seeking to rescind Vanderbilt University's "all-comers" policy, which requires school groups to allow any interested students to join and run for office.

Bill to form fair commission headed to governor

NASHVILLE (AP) — A proposal to set up a state fair commission is headed to the governor for his consideration.


Nissan sales fall 0.3 percent for April

FRANKLIN (AP) - Nissan Motor Co. said its April U.S. sales fell 0.3 percent from the same month last year as Altima sales slowed ahead of a new model to be introduced next month.

Dean proposes 53-cent property tax increase

NASHVILLE (AP) - Nashville Mayor Karl Dean has proposed a 53-cent property tax increase in his $1.71 billion budget proposal that would allow the city to add new teachers and give raises to most Metro workers.

Ban on U-turns off the books in Franklin

FRANKLIN (AP) — The ban on U-turns in the city of Franklin is off the books.

Franklin man wins Tennessee Wildlife Federation award

NASHVILLE (AP) — The Tennessee Wildlife Federation has chosen the Rocky Fork Partnership and a Franklin man for annual awards.

Tennessee celebrating Law Day on Tuesday

NASHVILLE (AP) — Tennessee is celebrating Law Day on Tuesday with the theme "No Courts, No Justice, No Freedom."

Gaylord sues government over 2010 flooding

NASHVILLE (AP) — Gaylord Entertainment Co. filed a lawsuit Monday accusing the National Weather Service and the U.S. Army Corps of Engineers of negligence that heavily damaged its luxury hotel in Nashville and the famous Grand Ole Opry House during flooding in 2010.


US manufacturing grows at fastest pace since June

WASHINGTON (AP) — U.S. manufacturing grew last month at the fastest pace in 10 months. New orders, production and a measure of hiring all rose.

US factory orders fell in March by most in 3 years

WASHINGTON (AP) — Demand for U.S. factory goods dropped in March by the most in three years, driven lower by a sharp fall in volatile orders for commercial aircraft. Still, more recent data suggest the decline may be temporary.

Dow headed for highest close since '07

NEW YORK (AP) — The fastest growth in U.S. manufacturing in 10 months gave stocks a lift Tuesday and put the Dow Jones industrial average on track for its highest close in more than four years.

Toyota, Chrysler see big April sales gains

DETROIT (AP) — Toyota and Chrysler saw big U.S. sales gains in April, but they came at the expense of General Motors and Ford.

Fed says retailers paying a lot less in debit fees

WASHINGTON (AP) — Retailers are paying significantly less every time a customer swipes a debit card under a rule capping the fees that banks are allowed to charge.

US construction spending barely increased in March

WASHINGTON (AP) — U.S. builders barely increased their spending on construction projects in March after two straight months of declines.

Facebook to make it easier to become organ donor

NEW YORK (AP) — Facebook wants to help you share your organs.

Study shows fewer loans to small business in March

NEW YORK (AP) — Lending to small business is slowing, possibly a sign of deteriorating confidence in the economy from entrepreneurs.


Santorum wants promises from Romney before backing

WASHINGTON (AP) — Rick Santorum wants to ensure the GOP's policy platform represents conservatives' interests. Newt Gingrich wants help retiring his campaign debt and repairing his reputation.

Obama ad accuses Romney of outsourcing US jobs

WASHINGTON (AP) — President Barack Obama's re-election campaign has released a new ad that accuses Mitt Romney of outsourcing American jobs and slams the Republican candidate for keeping money in foreign bank accounts.

Highway bill enters legislative homestretch

WASHINGTON (AP) — Defying expectations, Congress has reached the homestretch on a major overhaul of federal transportation programs that is critical if the nation is to avoid steep cutbacks in highway and transit aid.


Children's hospital gets $1.5 million pledge

NASHVILLE (AP) - The Junior League of Nashville has committed $1.5 million to Monroe Carell Jr. Children's Hospital at Vanderbilt University to care for children with sickle cell disease and asthma.

3 workshops for farmers this week

NASHVILLE (AP) — One of three workshops on agricultural marketing to restaurants and grocery stores is scheduled for Friday in Nashville.


College groups legislation passes Senate 19-12

NASHVILLE (AP) - Groups at privately run Vanderbilt University and public colleges and universities could refuse to accept individuals who don't share their beliefs under a proposal that has passed the Senate despite criticism that the Legislature is being intrusive.

Campaign finance bill advancing in House

NASHVILLE (AP) - A proposal that seeks to lift a cap on contributions from political action committees is once again advancing in the state Legislature.

Lottery scholarship bill likely dead this session

NASHVILLE (AP) - A proposal that would make cutting some students' lottery scholarships in half contingent on lottery revenues was withdrawn from consideration on Monday because the House sponsor said he didn't have the votes for passage.

Tenn. lawmakers still trying to conclude business

NASHVILLE (AP) - Tennessee lawmakers edged closer Sunday to adjourning several weeks earlier than usual, but they continued to engage in end-of-session wrangling as intense as ever.


US consumer spending slowed in March, income rose

WASHINGTON (AP) — Americans increased their spending more slowly in March, suggesting some are worried that their paychecks aren't growing fast enough.

Dow, S&P 500 slip as Spain enters recession

NEW YORK (AP) — News that Spain's economy entered another recession renewed worries about the fragility of Europe's finances Monday and nudged stocks lower. The market ended its first losing month this year.

B&N, Microsoft team up on Nook, college businesses

NEW YORK (AP) — Books and bits united Monday as Microsoft provided an infusion of money to help Barnes & Noble compete with top electronic bookseller Amazon. In exchange, Microsoft gets a long-desired foothold in the business of e-books and college textbooks.

Humana reports 21 percent drop in 1Q profit

LOUISVILLE, Ky. (AP) — Humana Inc. said Monday that its first-quarter profit fell 21 percent as the health insurer paid out more in claims and bolstered spending in anticipation of growth in its lucrative Medicare Advantage membership.


Top EPA official resigns over 'crucify' comment

WASHINGTON (AP) — The Obama administration's top environmental official in the oil-rich South and Southwest region has resigned after Republicans targeted him over remarks made two years ago when he used the word "crucify" to describe how he would go after companies violating environmental laws.

Analysis: Student loan agreement? Not so fast

WASHINGTON (AP) — In the political campaigns still taking shape, President Barack Obama, Republican challenger Mitt Romney and lawmakers of both parties say they want to protect college students from a sharp increase in interest rates on federally subsidized loans.


Acadia Healthcare 1Q earnings, expenses soar

FRANKLIN (AP) - Acadia Healthcare Co. Inc., which provides inpatient behavioral health care services, said Friday it turned a first-quarter profit and saw its expenses soar compared to last year, when it was a much smaller company.


Lawmakers reach agreement on governor's budget

NASHVILLE (AP) - A panel of Republican and Democratic lawmakers reached an agreement late Friday that will restore funding for key projects in Gov. Bill Haslam's more than $31 billion spending plan.

Tenn. House passes 'gateway sexual activity' ban

NASHVILLE (AP) - The House has passed a bill to allow parents to sue teachers or outside groups for promoting or condoning "gateway sexual activity" by students.

Disclosure requirement headed for governor's desk

NASHVILLE (AP) - The House has given final approval to a bill requiring local and regional planning commissioners to file interest disclosures with the Tennessee Ethics Commission.

Haslam cash grants plan passes Senate 29-1

NASHVILLE (AP) - Gov. Bill Haslam's plan to increase the amount of cash grants available to companies looking to invest in Tennessee has passed the Senate.

House OKs judicial selection plan on 70-24 vote

NASHVILLE (AP) - A proposal to change the Tennessee Constitution to give the Legislature power to reject the governor's appointments to the state Supreme Court cleared the House on Thursday.


Dow regains ground it lost in April; Amazon surges

NEW YORK (AP) — It took a while, but the Dow Jones industrial average finally gained back all its losses for the month.

A weaker first quarter doesn't mean a weak year

WASHINGTON (AP) — The U.S. economy grew more slowly in the first three months of this year. Governments spent less, and businesses cut back on investment. But consumers spent at the fastest pace in more than a year.

Hubbub over content rights greets Google Drive

SAN FRANCISCO (AP) — Google is facing suspicion and confusion as it tries to persuade people to entrust personal documents, photos and other content to the company's new online storage service.

Exxon Mobil 1Q profit drops 11 percent

NEW YORK (AP) — Exxon Mobil struggled just about everywhere in the first quarter.

US rate on 30-year mortgage dips to 3.88 percent

WASHINGTON (AP) — The average rate on the 30-year fixed mortgage has dipped to near its record low, keeping home-buying and refinancing affordable.

Contracts for US homes rose last month

WASHINGTON (AP) — An index that tracks the number of signed contracts to buy U.S. homes rose to its highest level in nearly two years last month, the latest sign the battered housing market is slowly improving.

New York Fed sells portion of AIG's bad assets

WASHINGTON (AP) — The Federal Reserve Bank of New York says it has sold a portion of the toxic mortgage securities it assumed in 2008 from American International Group as part of the massive taxpayer bailout of the big insurer.


GOP ignores veto threat, passes student loan bill

WASHINGTON (AP) — Republicans ignored a veto threat and overcame a rebellion by party conservatives to push a bill through the House Friday keeping interest rates on millions of federal student loans from doubling this summer.

Obama targets diploma mills that market to vets

WASHINGTON (AP) — The Obama administration wants to trademark the term "GI Bill" in an effort to shield veterans and military families being swindled or misled by schools that target their federal education benefits.

Watchdog expanding ethics probe at labor board

WASHINGTON (AP) — A government watchdog has expanded an ethics probe of the National Labor Relations Board after finding that more inside information was leaked to a former adviser to Republican presidential hopeful Mitt Romney, a Democratic lawmaker said Thursday.

Senate panel approves 5-year food and farm plan

WASHINGTON (AP) — The Senate Agriculture Committee has approved a five-year, half-trillion-dollar plan to overhaul the nation's food and farm policies.

State, local government more popular than federal

WASHINGTON (AP) — Majorities of the public look more kindly on their state and local governments than Washington, according to a new the Pew Research Center poll.

Corrections Corp of America 1Q net income falls

NASHVILLE (AP) - Corrections Corp of America, the nation's largest prison management contractor, said Thursday that its first quarter net income fell 21 percent due to debt refinancing and other costs, and the company said it was considering converting into a real estate investment trust.

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