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VOL. 35 | NO. 27 | Friday, July 8, 2011

Tapping a growing market

MIBANCO joins larger Nashville-area banks in pursuing Hispanic customers

Nashville’s burgeoning Hispanic population will soon have a bank to call its own as MIBANCO, a division of the Bank of Camden, is opening a branch this summer at 4536 Nolensville Pike.

Overcoming historical mistrust of banks is key to building base

Having banks that cater to the needs of the Hispanic community is helpful. Getting that community to use the banks is a little harder.

Opry Mills’ decision to rebuild seen as good sign for retail

When the May 2010 floodwaters receded, Nashville set about rebuilding downtown landmarks and emptying sodden basements. But out on Briley Parkway, Opry Mills just dried out and sat vacant.

Gayborhood app connects with demographic

Atlanta-based Carma Productions is hoping to help connect Nashville’s gay community with area businesses and vendors through a new office on West End and its Gayborhood smart phone app.

Local Weather
Nashville, TN
Partly Cloudy
Wind: East at 6.9 mph
Humidity: 62%


Cheekwood Summer Nights Party is set for Friday at Cheekwood Botanical Garden & Museum of Art. The 7 p.m. event starts with live music from the San Rafael Band and hors d’oeuvres and cash bar on the Museum loggia. At 9, there will be a screening on the lawn of The Great Gatsby. Tickets: $35 per person and can be purchased online through July 12 at cheekwood.org/public_programs. Information: 356-8000.

more events »


Business owner honors father by donating 100,000 trees

Chris Clark is a conservationist by birth. His father, Steve, founded Steve Clark and Associates, a Nashville-based natural resource planning firm 36 years ago. By combining landscape architecture and civil engineering with urban forestry, the company looks at designing sites from a holistic standpoint, taking in everything from the soil to trees.


Wretch! By these Realtors he has sent thee

Once upon a midnight dreary, while I pondered weak and weary over a torn and tattered copy of an inspection of a home report. While I nodded, nearly napping, suddenly there came a rapping as of someone gently tapping, tapping at my chamber door. “Tis a Realtor, nothing more.” She delivered the original report to my door.


Lewis, King, Krieg and Waldrop names Cole managing partner

Lisa Ramsay Cole, an attorney with the law firm Lewis, King, Krieg and Waldrop, P.C., for more than 18 years, has been named managing partner of the firm’s Nashville office.


Don’t let excuses get in the way of your job search

What’s easier, doing all the things necessary to find a new job or making excuses?


There’s more to shoplifting than meets the hidden camera

Your mother said you should be ashamed of yourself. And you were.


Twitter hits critical mass as marketing tool

Most Twitter users are college educated, 26 to 44 years old, with incomes of $26K to $75K, according to Digital Surgeons. A whopping 67 percent of users follow a brand from which they intend to purchase.


Pair of must-read historical novels

If memory serves, it was about this time of year in 2008 that I found myself face to face with my favorite Latin teacher at a party.


Vacation Bible school snacks getting fancier

During the summer months, most churches hold vacation Bible school for the children and young people. Ours was last week, and it was really good. Busy, but good.


Haslam refusing some state workers raises

NASHVILLE (AP) — Gov. Bill Haslam is refusing to grant pay raises to hundreds of state workers who have been disciplined during the past year.

Settlement reached in Tennessee health fraud case

NASHVILLE (AP) — Federal prosecutors say a $220,000 settlement has been reached with a Florida-based provider of mental health services whose former employee billed the state of Tennessee for therapy sessions at nursing homes that were never held or were very brief.

Mentally disabled sue Tenn. over cuts to home care

NASHVILLE (AP) — A group of 39 disabled Tennesseans is suing the state over cuts to in-home care services they say will force them from their homes.

Bredesen, mom no longer get Haslam news summary

NASHVILLE (AP) — Among those no longer receiving Republican Gov. Bill Haslam's daily news roundup are 74 lawmakers, five dead people, former Democratic Gov. Phil Bredesen — and Bredesen's mother.


Business stockpiles rose for 17th month in May

WASHINGTON (AP) — Businesses added to their stockpiles for a 17th consecutive month in May. But sales fell for the first time in nearly a year, a sign that many companies could be forced to trim supply levels if the economy weakens.

Wholesale prices drop for first time in a year

WASHINGTON (AP) — Companies paid less for raw materials and factory goods in June, evidence that inflation pressures are weakening as gas prices fall.

Fixed mortgage rates fall toward 2011 lows

WASHINGTON (AP) — Fixed mortgage rates fell this week, and the rate on the 15-year loan dropped to its lowest point of the year.

Unemployment aid applications fell for 2nd week

WASHINGTON (AP) — Fewer people applied for unemployment benefits last week, an encouraging sign that the job market may be slowly improving.

Foreclosure activity slowed in first half of 2011

LOS ANGELES (AP) — The number of homes taken back by lenders in the first half of this year fell 30 percent compared with the same 2010 period, the result of delays in foreclosure processing that threaten to stall a U.S. housing recovery.

Oil above $98 as investors eye US stimulus, debt

SINGAPORE (AP) — Oil prices hovered above $98 a barrel Thursday in Asia amid speculation about a possible new round of U.S. monetary stimulus while a rating agency put the country's credit rating under review for a downgrade.

Companies propose curbing junk food ads for kids

WASHINGTON (AP) — The nation's largest food companies say they will cut back on marketing unhealthier foods to children, proposing their own set of advertising standards after rejecting similar guidelines proposed by the federal government.

Oil giant ConocoPhillips to split into 2 companies

NEW YORK (AP) — ConocoPhillips, the nation's third-largest oil company, said Thursday that it will split itself into two separate publicly traded companies and its CEO and Chairman Jim Mulva plans to retire once the transaction is complete.

JPMorgan Chase's income rises 13 percent in 2Q

NEW YORK (AP) — JPMorgan Chase & Co.'s second-quarter income rose 13 percent as the bank collected higher fees from equity and debt underwriting in its investment banking business. The bank also cut losses in its credit card portfolio.


Reid: No Social Security checks without debt deal

WASHINGTON (AP) — Echoing President Barack Obama's warning, Senate Majority Leader Harry Reid says Social Security payments would stop if there is no deal to raise the government's borrowing limit by Aug. 2.

'Enough is enough,' Obama says, calling for deal

WASHINGTON (AP) — Amid new warnings and fresh signs of strain, President Barack Obama and congressional leaders are entering a perilous debt-limit endgame. The president, declaring "enough is enough," is demanding that budget negotiators find common ground by week's end even as the Senate's top Republican gained followers for his own last-ditch scheme to avoid a government default.

Lawmakers snipe, Wall St. frets as deadline nears

WASHINGTON (AP) — Testy lawmakers pointed fingers at one another and President Barack Obama on Thursday as negotiations over raising the national debt limited entered a perilous endgame. Wall Street eyed the standoff with growing anxiety, warning of catastrophe if the U.S. defaults on its obligations.

McConnell to Obama: Debt limit fallout all yours

WASHINGTON (AP) — The Senate's top Republican leader has a message for President Barack Obama on the debt limit talks: They're all yours.

Computer game gives people shot at managing budget

WASHINGTON (AP) — Think you might do better than President Barack Obama and congressional leaders in picking and choosing what government spending to cut — or taxes to raise — to stave off a debt showdown that could wreck the economy? A new computer game gives you, too, the chance to play "Budget Hero."

GOP 2012 candidates quiet on McConnell plan

WASHINGTON. (AP) — Republican presidential candidates are all but silent on Senate GOP leader Mitch McConnell's proposal to sidestep a potentially disastrous government default on loan obligations.


All legislation OK'd by state lawmakers now online

NASHVILLE (AP) — All the legislation approved this year during the General Assembly is now available online.

Warrant issued in state Capitol vandalism case

NASHVILLE (AP) — State officials have issued a warrant for a woman charged with spray painting graffiti on the state Capitol last month.

Tenn. lawmaker carved initials in her capitol desk

NASHVILLE (AP) — A freshman Tennessee lawmaker who admits carving her initials into her desk in the state House chamber is going to have to pay to fix it.

Haslam asks for disaster help for 7 counties

NASHVILLE (AP) — Gov. Bill Haslam has asked President Barack Obama to declare seven counties federal disaster areas as a result of severe weather June 18-25.


Oil down near $97 as US crude supplies jump

LONDON (AP) — Oil prices slipped to near $97 a barrel Wednesday in Europe after a report showed U.S. crude supplies unexpectedly rose last week, suggesting demand is weak.

Chain restaurants will make kids menus healthier

WASHINGTON (AP) — Parents seeking healthier restaurant meals for their kids can start to look beyond chicken nuggets and macaroni-and-cheese.

Capital One 2Q profit up, plans $2B stock offering

NEW YORK (AP) — Capital One Financial Corp. said Wednesday that its second-quarter profit climbed 50 percent, as the improving payment habits of its credit card and loan customers allowed the bank to sharply reduce the amount it had set aside to cover uncollected payments.

US stock futures rise on encouraging China growth

NEW YORK (AP) — Stock futures are rising after an encouraging report on China's growth.


Debt talks grind on, clock ticks toward default

WASHINGTON (AP) — Budget talks between President Barack Obama and his GOP rivals are at a frustrating standstill, leading a top Republican to launch a long-shot proposal to give Obama sweeping new powers to muscle through an increase in the government's debt limit without the approval of a bitterly divided Congress.

Corporate jet tax hike hits ailing plane makers

WASHINGTON (AP) — President Barack Obama aims at corporate fat cats when he calls for a tax increase on companies that own private jets. But he hits an American manufacturing industry that is just starting to show life after years of slumping sales and thousands of job losses.

Bernanke: Fed would supply more stimulus if needed

WASHINGTON (AP) — Federal Reserve Chairman Ben Bernanke said Wednesday that the central bank is prepared to provide additional stimulus if the current economic lull persists.

Obama raises more than $86M for campaign, DNC

WASHINGTON (AP) — President Barack Obama collected $86 million combined for his re-election campaign and the Democratic party during the past three months, giving him a large fundraising advantage over the Republican field seeking to challenge him in 2012.

Lawmaker: US airports are not secure enough

WASHINGTON (AP) — Despite billions of dollars in security enhancements, U.S. airports are still vulnerable to terror attacks, according to a Republican congressman who is probing these deficiencies.


Online piracy the focus of music industry meeting

NASHVILLE (AP) — Music industry officials are meeting this week in Nashville to discuss ways to combat online music piracy.

Nashville airport terminal renovation over

NASHVILLE (AP) — Officials at the Nashville International Airport on Tuesday will celebrate its terminal renovation.

Nissan announces pricing for new Versa

FRANKLIN (AP) — Nissan North America Inc. said Monday that pricing for its redesigned 2012 Nissan Versa sedan will start at $10,990.


Tenn June tax collections exceed state estimates

NASHVILLE (AP) — Tennessee tax collections in June exceeded state budget estimates for the 11th straight month.


Job openings flat in May, a sign of slow hiring

WASHINGTON (AP) — It's shaping up to be a long, tough summer for jobseekers: The number of job postings didn't increase in May, the latest sign that hiring is unlikely to pick up anytime soon.

US corn supplies jump, easing shortage worries

ST. LOUIS (AP) — Corn supplies are projected to be higher than expected this fall. A bigger crop would ease concerns of a grain shortage and could slow food inflation later this year.

Oil imports drove May trade deficit to $50.2B

WASHINGTON (AP) — The U.S. trade deficit surged in May to the highest level in more than two and a half years, driven wider by a big increase in oil imports and a decline in exports.

Oil falls to near $94 amid European debt fears

LONDON (AP) — Oil prices fell to near $94 a barrel on Tuesday as financial markets were hit by worries about Europe's debt crisis and the U.S. dollar strengthened, making commodities like crude more expensive for international investors.

European markets shaken by fears for Italy, Spain

MILAN (AP) — European financial markets were slammed Tuesday by fears that Italy and Spain would be dragged into the debt crisis, though investors found some relief in signs that Rome would speed up approval of austerity measures.


McConnell, Boehner increase criticism of Obama

ASHINGTON (AP) — The top two Republicans in Congress sought Tuesday to put the onus on President Barack Obama for failure to resolve a fight over how to increase the government's borrowing authority. Senate Minority Leader Mitch McConnell said a deal with Obama is "probably unattainable" and House Speaker John Boehner said the specter of default is "his problem."

Key Republican says companies can't bear new taxes

WASHINGTON (AP) — The Republican chairman of the House Budget Committee says his party is vehemently opposed to tax increases because U.S. businesses have been put at a disadvantage with their foreign competitors.

Culture, hard lessons drive GOP's anti-tax stand

WASHINGTON (AP) — On the surface, it would seem like an opportune time for Congress to include targeted tax hikes as part of a cost-cutting package to reduce the huge federal deficit.


AP Interview: Haslam plans proactive 2nd session

NASHVILLE (AP) — Gov. Bill Haslam plans to take a more proactive approach when the General Assembly meets next year after struggling to catch up with the flood of legislative initiatives in his first session.

Senate staffers retransmit Haslam news summary

NASHVILLE (AP) — Staffers in the state Senate have begun retransmitting Republican Gov. Bill Haslam's daily news summary through social media.

State looking to honor companies for export growth

NASHVILLE (AP) — The state is looking to recognize Tennessee companies that have shown strong export growth.


Hispanic woman is first to head Nashville office

NASHVILLE (AP) — Metro Nashville has confirmed the first Hispanic woman ever to head a city department.


Oil drops below $95 per barrel

NEW YORK (AP) — The latest readings on Chinese inflation and renewed worries about European debt are pushing oil lower.

Nissan works on recharging Leaf with solar power

YOKOHAMA, Japan (AP) — Japanese automaker Nissan is testing a super-green way to recharge its Leaf electric vehicle using solar power, part of a broader drive to improve electricity storage systems.

AP Sources: GM to sell diesel Chevy Cruze in US

AP Sources: GM to sell diesel Chevy Cruze in US

Dunkin' Donuts' parent announces IPO price range

NEW YORK (AP) — The parent of Dunkin' Donuts plans to raise as much as $461 million when it takes the company public, up from the $400 million it originally estimated.

BSkyB shares slide on doubts over News Corp. bid

LONDON (AP) — Shares in British Sky Broadcasting dropped sharply Monday on growing doubts over News Corp.'s ability to take full control of the lucrative satellite broadcaster amid signs that the government is looking at ways to block the deal.

Nestle buys majority stake in Chinese candy maker

GENEVA (AP) — Nestle SA, the world's biggest food and drink company, took another big step into the Chinese market Monday with the announcement that it is to buy a majority stake in candy maker Hsu Fu Chi for 2.1 billion Singapore dollars ($1.7 billion; $1.4 billion Swiss francs).


Obama challenges GOP to compromise on debt

WASHINGTON (AP) — President Barack Obama raised the stakes Monday in talks aimed at preventing an unprecedented U.S. default, saying there would be no agreement if Republicans did not compromise and that he would not sign a short-term agreement.

Speaker: House won't back deal with tax hike

WASHINGTON (AP) — Speaker John Boehner says he agrees with President Barack Obama that the nation's borrowing limit must be raised to avoid a government default but insists that House Republicans won't back any deal with tax increases.

No. 2 Senate Democrat: Deal must be done on debt

WASHINGTON (AP) — The No. 2 Senate Democrat is demanding that fellow lawmakers "stay, close the deal" on a new budget agreement to avert a government default in about three weeks.

Senators propose immediate end to ethanol credit

WASHINGTON (AP) — Two senators from ethanol-producing states proposed Thursday to immediately end a tax credit for the corn-based fuel and agreeing to support shifting some of that money to debt reduction.

US, Mideast mediators meet with low expectations

WASHINGTON (AP) — The United States and other Mideast mediators meet Monday in Washington, with the Israeli-Palestinian peace process in shambles and an upcoming U.N. confrontation over whether to admit Palestine as an independent country only likely to make the decades-old deadlock even more intractable.


Haslam cuts 9 of 10 recipients of news summary

NASHVILLE, Tenn. (AP) — No news is not good news to hundreds of political figures who have quit receiving a popular daily roundup of state media reports e-mailed by Gov. Bill Haslam's office.

Great Smokies visits down in first 5 months

GATLINBURG (AP) — Visits to the Great Smoky Mountains National Park are off 9 percent from January through May, when compared with the first five months of 2010.

Audit: Community Health lost or misspent $1.2M

NASHVILLE (AP) — An audit by the state comptroller's office alleges that Community Health Network Inc. lost or misspent more than $1.2 million over a three-year period, including $700,000 from state funds.

Preliminary TCAP data shows improved scores

MURFREESBORO (AP) — Gov. Bill Haslam on Thursday applauded the state's improved standardized test scores but acknowledged more work has to be done to meet federal regulations.

Group gets support, no money for train interstate

KNOXVILLE (AP) — A group proposing a national highway system for trains has been getting endorsements from public officials in Tennessee and other Southeastern states, but they have yet to get any public or private funds committed to the project.

Smoky Mountains' Blackberry Farm voted top resort

WALLAND (AP) — Travel + Leisure Magazine has ranked Blackberry Farm in East Tennessee the No. 1 resort in the continental U.S. and Canada for 2011.


Christian Church gathering in Nashville

NASHVILLE (AP) — An estimated 5,000 members of the Christian Church (Disciples of Christ) will meet in Nashville Saturday through Wednesday for the church's biennial General Assembly.


Unemployment rises to 9.2 percent in June as hiring stalls

WASHINGTON (AP) — Hiring slowed to a near-standstill last month. Employers added the fewest jobs in nine months and the unemployment rate rose to 9.2 percent.

Oil hovers below $99 ahead of key US jobs data

SINGAPORE (AP) — Oil prices hovered below $99 a barrel Friday in Asia ahead of key jobs data from June that could shed light on the strength of the U.S. economy.

US stocks dive after dismal June jobs report

U.S. stocks opened sharply lower Friday after the government said businesses added the fewest jobs in June in more than a year. The unemployment rate rose to 9.2 percent.

Job outlook rises as reports suggest more hiring

WASHINGTON (AP) — June may turn out to have been a good month to find a job after all.

Wholesale inventories up in May but sales decline

WASHINGTON (AP) — Wholesale companies added to their stockpiles for a 17th straight month in May but their sales declined for only the second time in the past 11 months, providing further evidence of the U.S. economy's slowdown in the spring.

Gov't eases foreclosure rules for unemployed

WASHINGTON (AP) — The Obama administration is making it easier for out-of-work homeowners to stay in their homes, as it tries to revamp its troubled foreclosure-prevention program.

US retailers post strong June sales

NEW YORK (AP) — American consumers who were enticed by warmer weather and deep discounts of up to 80 percent on summer merchandise went on a buying binge in June, helping many retailers deliver the most robust revenue gains for that month since 1999.

Oil and gasoline prices on the rise again

A funny thing happened on the way to lower oil and gasoline prices: They went up.

BMW to buy ING's car leasing division

BERLIN (AP) — Automaker BMW AG says it is buying a car leasing unit of Dutch bank ING Groep NV for euro637 million ($912 million).


Obama: Still differences on debt, new talks Sunday

WASHINGTON (AP) — With an August deadline for a budget deal to raise the nation's debt ceiling looming, President Barack Obama and congressional negotiators are looking at closing some tax loopholes and cutting popular social benefit programs as they work to reach an agreement between Republicans and Democrats.

Pelosi: Dems oppose Social Security, Medicare cuts

WASHINGTON (AP) — The top House Democrat says she and fellow Democratic lawmakers will oppose including cuts in Social Security or Medicare benefits in any package aimed at reducing huge federal deficits.

House presses ahead to complete $649B defense bill

WASHINGTON (AP) — The House is sending mixed signals on President Barack Obama's military action against Libya, voting to prohibit weapons and training to rebels looking to oust Moammar Gadhafi but stopping short of trying to cut off money for American participation in the NATO-led mission.

Administration to propose steps on gun safety

WASHINGTON (AP) — Six months after Rep. Gabrielle Giffords was shot, the White House is preparing to propose some new steps on gun safety, though they're likely to fall short of the bold measures activists would like to see.

House rejects effort to prohibit funds for Libya

WASHINGTON (AP) — The House voted Thursday to bar military aid to Libyan rebels battling Moammar Gadhafi but stopped short of prohibiting funds for U.S. involvement in a NATO-led mission now in its fourth month.

IRS drops probe of donors to nonprofit groups

WASHINGTON (AP) — The Internal Revenue Service is dropping its investigation of five donors for making contributions to the kind of nonprofit groups that have become popular for spending millions of dollars on political ads in the past few years, the agency announced Thursday.

Court restores ban on newspaper, TV ownership

WASHINGTON (AP) — A federal appeals court has restored a longstanding ban that prevents media companies from owning both a newspaper and a television station in the same market.

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