Zacks sees more lean times for restaurants
Posted on December 31, 2008 at 1:07 pmThe consumer will stay at home or settle for a Big Mac for a good while yet, which means the share prices of public chains are headed nowhere for now.
A lot of the near-term pain is baked into the prices. But we think the upturn in sales will come later and be more gradual than investors are anticipating — in the third quarter of 2009 at the earliest.
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Avondale likes locals in ‘09
Posted on at 12:58 pmThe Nashville investment bank’s analysts say the outlook for Corrections Corp. (Ticker: CXW), Psychiatric Solutions (Ticker: PSYS) and America Service Group (Ticker: ASGR) is solid on several fronts.
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HealthSpring CFO sells more stock
Posted on at 10:40 amAs part of his trading plan, Kevin McNamara yesterday unloaded more than $400,000 of his holdings in the health insurer. (Ticker: HS)
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Bad loans bite GreenBank
Posted on December 30, 2008 at 9:18 pmGreen Bankshares, one of the state’s largest banking companies, says the housing market slump will add about $25 million to its bad-loan pool and help push it into the red for the quarter. The company (Ticker: GRNB) recently snagged $72 million in TARP money.
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New president at PassAlong
Posted on at 8:53 pmThe Franklin-based music technology company brings on venture capitalist Ray Gary to help founder Dave Jaworski on the operational side.
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Sagittarius’ $500M plan
Posted on at 8:37 pmThe CEO of Captain D’s parent company wants to grow his Del Taco concept to $1 billion by 2014.
“Our intent isn’t to cover the map with Del Tacos, but to cover the market with high-quality Del Tacos that are very cost effective to our investors,” Shepherd said.
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McLean instruments staying at Hall of Fame
Posted on at 8:25 pmThe museum will pay $750,000 to the creditors of Bob McLean, the Murfreesboro investor who killed himself after his Ponzi scheme unraveled. McLean had donated four rare instruments worth more than $1.5 million to the Hall of Fame, but the trustee overseeing his bankruptcy case in August asked for them to be returned.
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Don’t mess with the feds
Posted on at 3:48 pmKnoxville attorney Jack Burgin shares some perspective on the Equal Employment Opportunity Commission’s fiscal 2009 report. One noteworthy number points to the muscle it brings to the table.
[The] EEOC’s success rate in litigation is statistically better (50 percent v. 38 percent) than that of private attorneys. (That doesn’t reflect on the quality of representation so much as the disparity in litigation resources and the ability to select which lawsuits to bring.)
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Questions, not moralizing
Posted on at 2:15 pmTurney Stevens on Lipscomb University’s new Dean Institute for Corporate Governance & Integrity:
It’s not our purpose or our place to try to moralize. Our purpose is to raise the question: “What’s the professional—and the right—thing to do? How do you define words like truth and integrity?” At our launch this month we did a seminar with Benjamin W. Heineman Jr., from Harvard, who wrote High Performance with High Integrity. He has done more thinking than anybody in the country on how to create a culture where people are motivated and rewarded for doing the right thing.
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Breathing room for large Clarcor investor?
Posted on at 12:33 pmThe Franklin-based manufacturer has amended its change-in-control agreements with executives. Among the tweaks: An outside investor can now acquire 30 percent of the company without triggering the deals. That allows Neuberger Berman, which has owned almost 15 percent of the company (Ticker: CLC) for more than three years, to buy more shares.
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Brentwood bank will raise $3M next month
Posted on at 12:06 pmReliant Bank CEO DeVan Ard writes about saying no to TARP and how the upcoming expiration of options granted to shareholders at the bank’s founding will boost his capital position.
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Psych venture to grow in Texas
Posted on at 8:01 amBehavioral Centers of America, run by former Behaviorial Health Corp. chief Ed Stack, will soon open a 64-bed psychiatric facility near Midland, Texas.
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A glimpse at the Gaylons
Posted on December 29, 2008 at 10:22 pmThe Palm Beach Post does a nice job telling us more about the efforts of the family with local ties to buy U.S. Sugar.
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Nissan’s collateral damage
Posted on at 10:10 pmYes, the company is taking steps to deal with the recession. But more than half its suppliers also work with the Big Three, who won’t be taking a whole lot of deliveries in the coming weeks.
GM, Chrysler and Ford plan to shutter about 59 factories over the next month. A small number of parts suppliers asked GM for payments in advance after the automaker said it would run out of money by month’s end without U.S. loans, according to people familiar with the matter.
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The credit crunch’s ‘revolutionary’ impact on hospitals
Posted on at 9:59 pmThat cause-and-effect as well as the nine other top hospital stories in 2008 from Becker’s ASC Review.
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