Research firm CoreLogic says the Nashville-area housing market continues to heal if you're looking at it through the lens of seriously delinquent mortgages. In March, 4.2 percent of area home loans were delinquent, which is down 13 basis points from February and about 90 basis points less than a year earlier. All appears to be good there.
But the other metric CoreLogic tracks closely, the foreclosure rate, has stubbornly stayed around 1.15 percent since last fall. So, mortgage market watchers out there: Is that foreclosure rate our new "natural" number?
The Fisk University Board of Trustees has elected Barbara Bowles (pictured), a Chicago-based investment manager, to replace Robert W. Norton as its chair.
The move comes as six board members have seen their terms expire, according to the university.
In addition to Norton, a former Pfizer executive, the exiting board members include the following: Dr. Joan Mobley, a retired pathologist; Howard Gentry, Davidson County Criminal Court clerk; Robert Mallett, a Georgetown University law professor; and Perian Strang, a nonprofit professional.
The university said that no new members were immediately added to the board as replacements.
Ole has named veteran employee Gilles Godard vice president of corporate affairs and development, a newly created position. Godard, who has been with Music Row-based company for seven years, most recently served as chief creative officer. Jessica Nicholson and MusicRow.com have the story here.
The cliffhanger ending to the first season of Nashville on ABC leaves an important question up in the air. In this week's issue of the Scene, Adam Gold writes that the shooting location for Season 2 is up in the air — and that the drama does not just involve the incentives local and state officials could pony up. Sources say one of the show's stars prefers California and that the day-to-day operations could stand to improve.
If the show does indeed return to Music City for Season 2, line producer Loucas George and production supervisor Don Bensko won't be returning with it. While sources on the show's side say that's in part due to Lionsgate's unhappiness with spendthrift shoots and episodes cutting close to deadline, others say that wasn't the fault of George, Bensko or the crew. They argue that delayed scripts, slow turnaround on the show's music, and the fact that Lionsgate generally has little experience producing a network series led to a rigorous series of 16-hour days and unforeseen expenses — such as hemorrhaging a fortune in overtime pay.
The Washington, D.C., office of Baker Donelson Bearman Caldwell & Berkowitz has added to its ranks Stephen Azia, a two-decade veteran of health care regulatory law. Azia, who is bringing with him senior associate Kathleen Salsbury, previously worked at a small firm that dissolved early this month. He also has worked at global law firm Duane Morris and at the Health Industry Distributors Association.
The John C. Tune Airport saw March fuel sales decrease 17.5 percent compared to March 2012 figures, according to recently released Metropolitan Nashville Airport Authority statistics.
A key cause for the dip involved the West Nashville facility losing a major client (actually, the owner of a jet) to another airport.
According to MNAA officials, the fluctuation is normal and can be attributed to various factors such as weather patterns and variations in flight schedules.
Opened in 1986, John C. Tune Airport has an employee payroll of $3.1 million. MNAA officials say the facility’s annual economic impact is $10.8 million.
Don't look for the analysts at JPMorgan to give the slumping shares of Vanguard Health Systems a boost: The firm has lowered its price target for the Nashville-based hospital operator to $13 from $15. Vanguard (Ticker: VHS) has slid from more than $17 to about $12 in the past two months.
Franklin Mayor Ken Moore on Wednesday delivered his State of the City address, highlighting among other things his administration's efforts to keep the city's infrastructure ahead of growth wherever possible. But he also touched on one item where the infrastructure has lagged: In the near future, Moore said he plans to be "addressing the when and how" of building a new City Hall to replace the current facility on the Public Square.
Wayne Smith, chairman, president and CEO of Community Health Systems, says his team's fledgling collaboration with The Cleveland Clinic appears to be giving it a boost in the merger market. Speaking to Reuters as part of a story on the rising importance of academic partnerships — Williamson County neighbor LifePoint Hospitals is building a solid track record with its Duke LifePoint joint venture — Smith said CHS has been approached by a number of on-the-block hospitals since announcing the Cleveland Clinic partnership two months ago.
(Editor’s note: Post Managing Editor William Williams wrote this blog late Wednesday after normal business hours and, as such, could not contact CCA officials given the timing. This morning, CCA asked for a chance to respond to the post. The blog post has since been modified to reflect the information CCA provided.)
Alex Friedmann continues his scrutiny of Corrections Corp. of America.
Friedmann, president of Nashville-based Private Corrections Institute and a former inmate at a CCA-run facility, on Wednesday issued a press release in which he criticizes the company for tweeting an op/ed about a Temple University study that claims financial savings through prison privatization while failing to note industry members helped fund the study.
According to Friedmann, CCA did not mention in its tweet that the Temple Center for Competitive Government study was funded by the private corrections industry and by private prison firms. (Note: A quick glance of the study shows no reference to funding.) CCA cited the Temple study in its 2013 investor presentation, Friedmann said.
A Temple press release (read here) clearly discloses the funding for the piece, which is classified as a working paper.
CCA said its tweet referenced an op/ed published in The Oklahoman, not the Temple paper itself.
When contacted via phone, Friedmann (pictured) said ID-ing the funding source in a release is not the same as noting it in the study itself. Regardless, he argues, CCA's handling of the matter was not ideal.
In the release, Friedmann — arguably CCA’s most dogged watchdog and a staunch supporter of open records access — quotes Charles Scott, the former director of the Vanderbilt University Center for Ethics.
“An academic paper presents itself as providing objective knowledge. If that paper and research are funded by a for-profit business, then it is an ethical obligation of the authors to reveal that source of funding,” Scott is quoted.
(The Post was not aware until today, however, that the VU center recently held a two-day forum that included a panel on which Friedmann sat to criticize contractor-operated prisons.)
Dr. Simon Hakim, one of the study’s authors, countered Friedmann's view by noting the following in an emailed response:
“We are always completely transparent about funding. This is the normal course of action for working papers. When it’s formally published, we will yet again disclose the funding. Anyone who contacts us, we tell about the funding. In fact, just yesterday Mr. Friedmann called our public relations office, and they shared with him again that, as the press release clearly indicates, the study received outside funding. “My colleague and co-author, Dr. Erwin Blackstone, and I each have over 40 years of experience in academia. We feel strongly that our work has been and will continue to be handled transparently and ethically."
You may recall that last March, the Securities and Exchange Commission ruled in favor of CCA, and against Friedmann, on the company’s request to exclude a shareholder resolution (filed by Friedmann, of course) regarding its planned REIT conversion from its proxy materials in advance of the company’s annual meeting in May. (Read more here.)
Had the SEC sided with Friedmann, the resolution would have required CCA’s board of directors to issue a report to stockholders addressing issues related to REIT conversion.
Friedmann, a CCA stockholder, may have failed in that effort but he remains determined in his scrutiny of CCA.
Read Friedmann's full release here.
- ALEX B FRUIN INHERITANCE TRUST; CANDACE F STEFANSIC INHERITANCE TRUST; CANDANCE F STEFANSIC INHERITANCE TRUST; FRUIN, ALEX B TRUSTEE; FRUIN ALEX B INHERITANCE TRUST; STEFANSIC, CANDACE F TRUSTEE; STEFANSIC CANDACE F INHERITANCE TRUST; STEFANSIC CANDANCE F INHERITANCE TRUST
- ROSS, BRIDGETT D
- COOKE, ETHEN LANYARD TRUSTEE; COOKE, ETHEN LEWIS ESTATE
- JACOBS, JESSICA ALEXANDRA; JACOBS, ERIKA BESS