Analysts at Moody's Investors Service have placed the debt ratings of Noranda Aluminum Holdings under review for downgrade, saying the Franklin-based company "will face challenges in returning to and sustaining more robust metrics without meaningful improvement in its cost position or reduction in debt balances." The low prices of aluminum products on world markets have been a big drag for Noranda, which has launched a second cost-cutting program that aims to save $225 million by 2016.
United Auto Workers members in Spring Hill last week voted to approve with General Motors a new contract that will bring another 384 jobs here. The new positions cover a variety of work and are on top of the 1,800 people GM said this summer it planned to hire locally. The agreement — see the highlights here — also sets the stage for Spring Hill to receive two new "core products" — and presumably, some more jobs — in the near future. Local 1853 Shop Chairman Mike Herron tells Chambers Williams there's no way to tell when that will be and that it will happen "when the company decides the timing is right."
Construction workers and Nashville State Community College leaders are putting the finishing touches on a new culinary arts center at the Southeast Campus of Nashville State Community College. The 5,000-square-foot expansion was driven by local restaurateur Randy Rayburn and the Piedmont Natural Gas Foundation and will open next month, doubling the capacity of the program. Chris Chamberlain has more at Bites.
For a second straight year, industrial employment in Tennessee posted a gain, according to the 2014 Tennessee Manufacturers Register. The state added 4,197 manufacturing jobs from September 2012 to September 2013, a increase of about 1 percent, in line with the 1 percent gain reported in last year’s survey and slightly ahead of the national average increase as reported by the U.S. Labor Department.
Relatedly, Manufacturers’ News reports Tennessee is now home to 6,990 manufacturers employing 385,858 workers.
Read more here.
Chef Erik Anderson is leaving Midtown stalwart The Catbird Seat and moving to Minnesota to accompany fiancée Jamie Malone, a chef at Minneapolis' Sea Change. Anderson, who tells Nashville Scene he is exploring opening a restaurant in the Twin Cities, will craft his last meal at The Catbird Seat on New Year's Eve. Read more here.
Nashville-based independent music publishing company 3 Ring Circus Music has promoted Casey LeVasseur to director of A&R. Previously LeVasseur directed creative activities including licensing and administration issues and songwriter “boot camp” workshops. In addition, 3 Ring has hired Whitney Taylor Parker as creative director. Read more here at musicrow.com
Local investment evaluator David Trainer has signed an agreement to supply its research reports to clients of FA Today, which sells news and technology tools to independent financial advisors looking to connect with each other. FA Today's current format was launched in October, when it had about 12,000 users.
Calling it "sort of another Jubilee Day," Fisk University President James Williams yesterday announced that the historically black school has had its accreditation reaffirmed by the Southern Association of Colleges and Schools and been removed from probation. Williams and other Fisk leaders have been pushing through various reforms — including the sale of part of its Stieglitz art collection — and raising money to shore up the finances of the university, which was in the black for 2012-13 and again through the first quarter of its fiscal 2014.
The equity research team at Barclays Capital has come out with its best ideas for 2014 and analyst Josh Raskin says HCA Holdings is one of the names to bet on in health care. The most valuable company in Middle Tennessee (Ticker: HCA) is up almost 60 percent this year and has almost tripled since September of 2011.
Franklin aldermen on Tuesday night voted unanimously not to take steps to annex more than 400 acres near Del Rio Pike on which PulteGroup wants to build an 800-home senior living community. The ambitious project was opposed by many area residents — including County Mayor Rogers Anderson — who said the company's offer to upgrade some of the roads there wouldn't do enough to stop congestion. Kevin Walters has more from Tuesday night's meeting, including a pledge by some city officials to re-examine the land-use plans for the area.