Because taking off a day every two weeks makes you expensive and expendable
Posted on March 31, 2009 at 10:39 pm
Acknowledging the jittery job market, Vanderbilt’s Owen School is extending its Executive MBA program by making it weekend-only.
“Our goals in making this change are simple — preserving the selectivity of this highly successful program while bringing flexibility to employers and their key managers who need advanced education for the demands of difficult economic times and beyond,” said Jim Bradford, dean of the Owen Graduate School.
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iPayment profits rise
Posted on at 10:25 pm
The payment processor earned $14.3 million in 2008, more than double the numbers from the year before. Sales for the year rose 4.7 percent to $795 million but fell 1 percent in the fourth quarter, a trend the company says will continue this year. Also, the company shaved its long-term to $687 million.
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So where would Spring Hill land?
Posted on at 10:13 pmA General Motors bankruptcy filing could produce a the automotive equivalent of the good bank/bad bank model.
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PetDRx tweaks loan
Posted on at 10:01 pmThe struggling veterinary hospital operator (Ticker: VETS) has renegotiated its loan with Huntington Capital, which is based in San Diego.
The First Amendment waives the Company’s default of the prior covenants as of December 31, 2008, as well as through March 31, 2009. In addition, all future financial covenant requirements have been removed through the term of the loan.
Under the terms of the First Amendment, the Company is required to accelerate and make a $0.3 million principal payment on April 1, 2009 and then pay the remaining $1.1 million of principal over eighteen ratable monthly payments commencing on July 1, 2009 and ending on December 1, 2010. There was no change to the interest rate of the note. Additionally, upon execution of the First Amendment, the Company was required to pay a $100,000 restructuring fee and will be required to pay an additional restructuring fee of $150,000 on December 1, 2010.
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Research firm nabs WIC contract
Posted on at 9:44 pmGreen Hills-based Edge Healthcare Research will survey a portion of the 150,000 people enrolled in Tennessee’s WIC program ahead of an overhaul later this year.
New federal guidelines to take effect October 2009 have modified the current supplemental food packages offered through the WIC Program, and the Tennessee Department of Health wants to ensure that WIC recipients have access to the foods they use which are covered under the new food package guidelines.
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Another Captain D’s volley at Red Lobster
Posted on at 2:46 pm
After its last commercial was greeted with a cease-and-desist letter from its competitor, Brentwood-based Captain D’s is stepping up the advertising hijinks.
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For-profit education firm at center of Austin brouhaha
Posted on at 2:34 pmCommunity Education Partners, which runs alternative schools in five states, appears likely to miss out on a $5 million-a-year contract with Austin’s school district — at least for now.
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Country Music Hall of Fame board member joins MPi Advisory Council
Posted on at 2:18 pmMobile Productivity, Inc., (MPi) www.mpifix.com) a leading provider of profitability tools for auto dealer service departments, announced today that veteran Ford Motor Company executive Al Giombetti has joined the MPi Advisory Council. The group of top dealers, veteran factory executives and automotive industry experts was formed in March ‘07 to provide auto industry input into the strategic product and marketing direction of MPi. Current members include David Vallone, Kip Killmon, Paul Rubin, Dennis Noonan, Bill Lovejoy, Richard Sherman, Joe Hilger, Maureen Sullivan Martin, Joe Herman, Tony Noland, Jeff Rachor and Ernest H. Pomerantz. A well known automotive industry veteran, Giombetti recently retired after 27 years as a Ford Motor Company employee.
Currently, Giombetti is the President of ASK Consulting, a firm that specializes in strategic and operating planning with a focus on the developing targeted marketing strategies and supporting key business operations. In addition, he is a partner in Compass Marketing LLC, an investment organization that turns great ideas into real business opportunities.
Giombetti’s professional affiliations have included Board Member positions with the Country Music Hall of Fame in Nashville, where he served as chair of the marketing committee, and the King’s College Business School Advisory Board.
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USA Today publisher retiring to town
Posted on at 2:00 pmCraig Moon is stepping down next month after six years as boss of the nation’s biggest paper.
He declined to say where he is going, but said that the Internet has created new opportunities in developing new business models for news, “which I plan to explore with partners.”
He also plans to return to Nashville, Tennessee, where he will spend time with his family.
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Duck Head brand on the block
Posted on at 9:25 am
As part of its winding down, retailer Goody’s is putting up for sale the storied Duck Head name – which was founded in Nashville in 1865 – and other IP assets.
“Goody’s intangible asset portfolio represents over a century of brand building at its finest,” said David Peek, Goody’s CFO. “Goody’s is one of the most recognized family clothing retailers in the Southeast, and is uniquely positioned in smaller towns where budget-minded shoppers seek both quality and fashion. The acquisition of these brands represents a unique opportunity.”
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Franklin rated tops for entrepreneurs
Posted on at 8:33 amA BusinessWeek package highlights the hotbeds of small business in each state.
HT: Jeff Cornwall’s Entrepreneurial Mind
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Metals firm moves local office to Chattanooga
Posted on at 8:14 amAbout a dozen people have lost their jobs at the Nashville outpost of Chicago-based Ryerson, which has been consolidated with the one in the Scenic City.
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A scenic snapshot, Frist style
Posted on at 7:51 am
Billy Frist and his wife, Jennifer, have made news in New York with the purchase of an antique photograph showing a scene of what is now the Upper West Side. Billy is a son of HCA co-founder Tommy Frist and replaced his father on the hospital giant’s board early this year.
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The growing angst over government involvement
Posted on March 30, 2009 at 10:59 pmThe weekend ousting of Rick Wagoner as CEO of GM has prompted teeth gnashing from many corners of the business world about the role of government in business when government is a shareholder as well as a stakeholder. Some tasters:
From Dennis Kneale on CNBC.com: “The bigger worry is this summary execution betrays a deep antipathy toward Big Business on the part of the Obama Administration. Lamentably, the president’s henchmen may have imposed this coup mainly for reasons of image and example-setting. No wonder stocks are down big today.”
From Jeff Davis, bank analyst at Howe Barnes: “No doubt there will be widespread concern among business people regarding the government’s actions, but it should not be surprising as it is another indication of the costs of accepting government aid and capital. TARP preferred repayment likely will become more urgent for those banks that can afford to do so.”
New York investment banker Dan Ripp to the Wall Street Journal: “Why invest money in American industry when the government is capable of firing an experienced (if not, capable) executive and taking on the responsibilities of the firm itself?”
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Mark to market gets pockmarked
Posted on at 9:42 pmScore one for the financial-sector lobbyists, who appear to have produced a pronounced change in key bank accounting rules.
Officials at Norwalk, Connecticut-based FASB were under “tremendous pressure” and “more or less eviscerated mark-to-market accounting,” said Robert Willens, a former managing director at Lehman Brothers Holdings Inc. who runs his own tax and accounting advisory firm in New York. “I’d say there was a pretty close cause and effect.”
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