New GM at Hotel Preston
Posted on February 11, 2009 at 11:36 pmThe Briley Parkway hotel has hired Steven Hoida to run the funky joint.
“Steven has a proven track record in the hospitality industry,” said Howard Jacobs, President & Chief Operating Officer for Provenance Hotels, the parent company of Hotel Preston. “His ability to motivate team members and enhance the guest experience will continue to build upon the Hotel Preston’s solid reputation in Nashville.
Hoida previously served as General Manager for several management companies including Gaylord Entertainment’s organization in Nashville, Tenn. He has also managed a myriad of properties throughout the South and Midwest, while increasing revenue and improving customer satisfaction.
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HCA director resigns
Posted on February 11, 2009 at 11:24 pmThe hospital giant doesn’t say why 34-year-old Peter Stavros is leaving after almost three years, but already has a replacement at the ready in the form of a KKR colleague and former Quest Diagnostics chairman.
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Local entrepreneur sells sports marketing firm
Posted on February 11, 2009 at 10:27 pm
Franklin resident Gary Baker has sold Sports & Promotions, a sports marketing firm he founded in 1985, to three of its senior execs and Texas-based HEB. Baker co-owns a locally based Nationwide Series racing team with Mike Curb.
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Emma’s got jobs
Posted on February 11, 2009 at 6:00 pmJobs aren’t plentiful these days but there are folks hiring, some right here in Nashville:
Emma is an e-mail and web-based marketing agency on Eighth Avenue South. Right now, it’s ready to hire at least 20 creative minds. While some positions require IT experience, others do not.
Suzanne Norman of Emma said that working at the agency entails “being on the phone, writing great e-mails, solving problems (and) taking care of customers.”
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CCA’s soft side
Posted on February 11, 2009 at 1:54 pmCorrections Corp. of America has launched Inside CCA, a Web site “designed to deliver rotating timely information about all things CCA.” The company last fall responded to media criticism by building another site.
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More worker training cash for Zeledyne
Posted on February 11, 2009 at 12:41 pmThe state is almost doubling the $100,000 grant it initially allocated to cross-train employees of the former Ford auto glass plant. Zeledyne in December furloughed 175 workers.
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Caterpillar to shed costs with buyout
Posted on February 11, 2009 at 12:37 pmFrom the AP:
Caterpillar Inc. is offering voluntary early retirement packages to about 2,000 production workers as it expects lower demand for heavy equipment amid the global economic slowdown.
The maker of mining and construction machinery says the package is being offered to workers in Illinois, Colorado, Tennessee and Pennsylvania.
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Fifth Third Processing nabs contracts with two area businesses
Posted on February 11, 2009 at 11:23 amFrom a press release:
Fifth Third Processing Solutions is pleased to announce that O’Charley’s Inc. and Old Time Pottery have signed contracts for merchant processing services:
– O’Charley’s Inc., headquartered in Nashville, Tennessee, is a multi-concept restaurant company that operates or franchises a total of 371 restaurants in 28 states under three brands: O’Charley’s, Ninety Nine Restaurant, and Stoney River Legendary Steaks. The Organization has signed with Fifth Third for credit card processing.
– Old Time Pottery opened its first low-cost warehouse style home decor store in 1986 in Murfreesboro, Tennessee. The Company now has 38 stores throughout the Southeast and Midwest and has signed with Fifth Third for debit, credit and gift card processing.
“We are pleased to welcome these two new national clients,” said Donald Boeding, president of Merchant Services for Fifth Third Processing Solutions. “These new partnerships underline Fifth Third’s commitment to investing in the people, technology and systems necessary to effectively support the payment processing needs for a wide variety of businesses including traditional retailers and restaurants such as these.”
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Undercover at Walmart
Posted on February 11, 2009 at 9:00 amA writer gets a job at the nation’s discount retailer in an attempt to understand how it works:
We were given only a handful of outright prohibitions. No swearing in the store, for instance - not even the word “damn,” because some people might be offended. No funny-colored hair or blatant skin piercings, because some people might be offended. In fact almost all the rules devolved to the sacred principle of never, ever offending a customer - or “guest,” in Wal-Mart terminology.
The reason was clearly articulated. On average, anyone walking into Wal-Mart is likely to spend more than $200,000 at the store during the rest of his life. Therefore, any clueless employee who alienates that customer will cost the store around a quarter-million dollars. “If we don’t remember that our customers are in charge,” our trainer warned us, “we turn into Kmart.” She made that sound like devolving into some lesser being - a toad, maybe, or an ameba.
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A wholesale decline
Posted on February 11, 2009 at 8:52 amFrom the Memphis Daily News:
Wholesalers cut back on their inventories in December by the largest amount in nearly 17 years, and economists say more reductions are likely amid the deepening recession.
The ongoing inventory reductions mean wholesalers likely will order fewer new goods, leading to reduced production and potentially more job layoffs.
The U.S. Commerce Department reported Tuesday that wholesale inventories plunged by 1.4 percent, nearly double analysts’ expectations of 0.8 percent and the steepest since records began in January 1992. It also was the fourth straight monthly decline.
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Friedman: Gaylord shares not going anywhere
Posted on February 11, 2009 at 8:12 amAfter the company lowered its ‘09 outlook yesterday, analyst Patrick Scholes has lowered his price target on its shares (Ticker: GET) from $12 to $9, which is where they closed yesterday. Scholes recently wrote that, “after several years of challenges with expansion attempts, shareholders may have an open ear for TRT.”
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Incubator teams with UT foundation
Posted on February 10, 2009 at 11:07 pmDowntown’s Cumberland Emerging Technologies and the University of Tennessee Research Foundation will further explore a “promising” arthritis treatment.
“Licensing this technology is an important milestone for CET,” said A.J. Kazimi, Chief Executive Officer of Cumberland Pharmaceuticals and CET. “Not only are we adding a promising new product candidate to our development pipeline, we are also providing researchers with the resources necessary to advance this important work. This is precisely what we envisioned when we created CET to bridge the gap between the research laboratory and the commercial marketplace.”
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CCA’s forecasting dilemma
Posted on February 10, 2009 at 11:01 pmSome of your big clients are looking to cut back. Other potential clients want to ramp up. And the Street wants a number now.
We have received communications from several of our state customers indicating some of the steps they may take, which could impact CCA. For example, several state customers have communicated intentions to reduce our per diems.
We are currently in discussions with those customers regarding the opportunity for CCA to reduce service levels under those contracts, so as to eliminate operating costs to offset some or all of the impact from a reduced per diem.
We can also see states take actions that negatively impact our populations, such as listening probe standards.
We have also received an expression of interest from potential new customers to use our beds as cost savings mechanisms to help balance their budgets. Needless to say, given the level of uncertainty and limited visibility, at this point in time it is extremely difficult to look out into 2009 and forecast the impact these issues will have.
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The next big ECD target?
Posted on February 10, 2009 at 10:44 pm
Texas-based battery maker Valence Technology is said to be eyeing sites in the South for a $500 million plant. One reason: The European car makers are here.
Kanode likes the EU’s “deliberate” approach to developing a market for electric vehicles, and he expects companies based there to lead the electrification of the automobile. “This isn’t just a Big Three situation,” Kanode said. “European OEMs are larger than the Big Three, larger than the OEMs of Asia.”
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Color from HealthSpring’s Q4 call
Posted on February 10, 2009 at 10:29 pmSome highlights from HealthSpring’s conference call Tuesday afternoon, courtesy of Seeking Alpha.
- The company’s pay-for-performance model continues to gain traction and should cover half of its members by the end of this year. Search for ‘quality.’
- The company’s Leon Health Plans unit has renegotiated a number of its large hospital contracts in an attempt to catch up to costs that spiked unexpectedly last year. A 13 percent rate hike also will help. Search for ‘Miami.’
- Acquisitions? Not in this market, although CFO Kevin McNamara drops a hint, telling Goldman Sachs’ Daryn Miller, “If you could get your compatriots to finance some deals, there could maybe be something there.” Search for ‘M&A.’
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