Rutherford tops the list
Posted on April 9, 2009 at 2:09 pm
The home of MTSU and Nissan’s plant had the country’s highest rate of wage growth in the third quarter. Its whopping 17 percent growth rate — driven by manufacturing gains — was almost double that of second-place Yolo County in California. View the PDF here, the HTML version here.
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Analyst: First Horizon won’t need to raise more capital
Posted on April 9, 2009 at 8:48 amKeefe Bruyette & Woods analyst Jefferson Harralson says loan losses at the Southeast’s top regional banks will rise further this year but that the parent of First Horizon has enough of a cushion to avoid needing to raise more capital. The same goes for Synovus, the parent of The Bank of Nashville, but Harralson expects Regions and SunTrust to have to make a move by the end of the year.
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LP Field on initial World Cup stadium list
Posted on April 9, 2009 at 8:15 am
After playing host last week to the U.S. team’s 3-0 win against Trinidad & Tobago, LP Field is among 70 stadiums that have been sent info about U.S. Soccer’s bid to host the 2018 or 2022 World Cup. Neyland Stadium also is on the list.
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Local pizza company to sponsor Sprint Cup car
Posted on April 9, 2009 at 8:04 am
Hunt Brothers has teamed with Richard Petty Motorsports to back driver A.J. Allmendinger for the next five months and maybe more.
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Yeah, what they said!
Posted on April 8, 2009 at 3:47 pmLocally-based cost management outfit MedSolutions backs up the Journal of the American Medical Association, which recently featured an item from a Johns Hopkins research team which called for an increased focus on reducing diagnostic errors.
Often unrecognized or unreported, diagnostic errors receive little attention despite the fact that they cause up to 80,000 hospital deaths a year and result in twice as many tort claims as medication errors. In addition, roughly 5 percent of autopsies reveal diagnostic errors for which correct diagnosis and treatment could have averted death. No statistics exist for misdiagnosis-related deaths in outpatients.
And then, seizing the opportunity, the company pitches you their product…
In addition to improving diagnostic accuracy, Premerus is proven to reduce costs associated with misdiagnosis, such as unnecessary therapies, unwarranted tests and additional treatment required to reverse the effects of wrong therapies. An independently validated study conducted by the actuarial firm Thomson Reuters shows that healthcare payors utilizing Premerus can expect near-term savings of $4.45 per member, per month when utilized in a commercial insured population.
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New specialized OB/gyns at MTMC
Posted on April 8, 2009 at 3:38 pmMiddle Tennessee Medical Center is looking to offer a wider range of maternal-fetal services with the addition of three new docs, according to the Murfreesboro Post.
Cornelia Graves, MD, Harold Breckenridge Collins, MD and Audrey Kang, MD, specialize in the care of women with high-risk pregnancies. These physicians have completed two to three years of additional formal education and clinical experience within an American Board of Obstetrics and Gynecology approved Maternal-Fetal Medicine Fellowship Program
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Stimulus money funds old worker program
Posted on April 8, 2009 at 2:58 pmFederal stimulus funds have begun to creep into fringe state programs. Recently it was announced that a $484,100 grant will go to a special job training program for unemployed Tennesseans 55 year old and up.
The Senior Community Service Employment Program trains and employs 239 senior workers across 33 counties in the state. They are paid the federal minimum wage and work 20 hours a week. The stimulus money will allow 40 addtional individuals to join the program.
“This Recovery Act grant will increase significantly the number of older adults that will benefit from training and skills enhancements that will allow them to become more competitive in the current job market,” Gov. Phil Bredesen said in a release.
Fresh, hot jobs to Smyrna
Posted on April 8, 2009 at 11:08 amFrom a press release:
Fresh, hot doughnut fans have a new reason to celebrate tomorrow morning, April 9: the Krispy Kreme Hot Light will beam bright for the first time in Smyrna, Tennessee, with the opening of the newest Krispy Kreme Doughnut Factory and Kremery, located at 434 Sam Ridley Parkway.
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Analyst action: CHS, Tennessee Commerce
Posted on April 8, 2009 at 10:02 am
Goldman Sachs has kicked Community Health Systems off its Conviction Buy List. Shares of the Franklin-based company (Ticker: CYH) are down about 6 percent today and close to break-even for the year.
Over at Howe Barnes, analyst Jeff Davis has slashed his rating on Tennessee Commerce to ’sell’ after the bank said it will write down the value of its owned real estate by almost $3 million and further beef up loan loss reserves. Davis, who is based in Nashville, said CEO Art Helf and his team will have to slow loan growth to maintain their capital ratios. He expects Tennessee Commerce shares (Ticker: TNCC) will struggle in the coming months.
Our investment thesis assumed for the shares to rise from a pedestrian valuation that TNCC would have to prove to investors that it could manage through the deep recession and remain profitable… With this quarter’s loss, the shares will likely remain in the penalty box until the economy strengthens and/or the company strings together several quarters of profitability.
Almost 90 minutes into today’s session, Tennessee Commerce’s very thinly traded stock has yet to change hands.
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Light in the casual-dining tunnel?
Posted on April 8, 2009 at 9:19 amA number of Tennessee-based restaurant stocks are trading significantly higher this morning after Ruby Tuesday said its expected 2009 loss will be smaller than previously expected. Maryville-based Ruby Tuesday (Ticker: RT) has spiked almost 50 percent, while O’Charley’s (Ticker: CHUX) is up 16 percent and Cracker Barrel (Ticker: CBRL) and J. Alexander’s (Ticker: JAX) have added at least 3 percent.
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Security company staffs up
Posted on April 8, 2009 at 8:38 amFrom WKRN:
A security company with operations across Tennessee wants to add 100 jobs in the volunteer state by the end of the year.
Whelan Security announced it will add at least 400 new positions across the United States, with at least 50 of those being in Tennessee.
Managers here in Nashville want to double that number.
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Tennessee’s loosey-goosey muni bond derivatives
Posted on April 8, 2009 at 8:05 amThe New York Times lifts the veil on the surprises a number of Tennessee cities have gotten after working with investment bank Morgan Keegan to issue debt. The municipal bond derivatives marketed by Morgan Keegan – which also ran educational seminars on the complex deals – resulted in payments jumping higher as the economy tumbled.
Municipal bond experts say they know of no other state where a firm was allowed to wear three hats; several states prohibit a single firm from acting as both adviser and underwriter. In Pennsylvania, which has such a prohibition, federal prosecutors are investigating accusations that investment banks and financial advisers conspired to sell bonds with inflated fees to school districts.
“It’s like the lion being hired to protect the gazelle,” Robert E. Brooks, a municipal bonds expert and a professor of financial management at the University of Alabama, said of the situation in Tennessee. “Who was looking after these little towns?”
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Big homebuilders to join forces
Posted on April 8, 2009 at 7:36 am
Pulte is buying Centex Homes for more than $1 billion in an all-stock deal that will create the country’s top homebuilder. Combined, the firms control more than a dozen Nashville-area developments, with Pulte’s focused in Williamson and Centex being a player in Gallatin and Mt. Juliet.
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Williamson home sales better, but not good
Posted on April 7, 2009 at 10:59 pm
March’s numbers were up from February, but not as much as in past years. The median price was off almost 5 percent from early 2008 while the number of days on the market rose 10 percent.
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Watch your mouth
Posted on April 7, 2009 at 8:41 pmRecessionWire passes on some empathy etiquette for when it comes to talking with people who’ve just lost their jobs.
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