The real estate boom in Germantown continues apace and is increasingly branching into commercial projects alongside residential additions. The latest example is a joint venture between local bar owner Terry Raley and Woodland Street Partners, who are teaming up to open a 7,000-square-foot beer garden just south of Morgan Park and east of the Werthan Lofts complex. Matt Rogers at Eater Nashville has more info on the project, which is scheduled to open next fall.
The people behind Inc. magazine will next May bring to downtown Nashville one of their GROWCO conferences. The lineup isn't yet set in stone and registration will open next month, Milt Capps has some more details, including a look back at past conferences that featured former President Bill Clinton, Richard Branson and Guy Kawasaki.
The average per-gallon price of regular gas in Nashville on Sunday was $3.14, down two cents from the mark of a week ago and up three cents from the $3.11 figure from a month ago, according to AAA.
Relatedly, Tennessee's mark was also $3.13 Sunday, down three cents compared to the price from the previous week.
The price of a barrel of oil was $97.65 Friday on the NYMEX, up from the $94 mark of the previous week.
Crude prices jumped after the unemployment rate fell to 7 percent in November and consumer sentiment rose to a five-month high, according to the Thomson Reuters/University of Michigan report. U.S. crude supplies also fell for the first time in 11 weeks.
"The good news is motorists should start to see Southeast gas prices inch lower this week after the Thanksgiving spike," said Jessica Brady, AAA spokeswoman, The Auto Club Group. "Pump prices may not move lower for much longer though, as the cost for crude oil jumped on positive economic news and an increase for heating oil.”
Nationally, the average price of regular unleaded gasoline was $3.26 as of Sunday, one cent less than the figure of the previous Sunday.
For comparison with Tennessee’s average of $3.13, Georgia’s average price for a gallon of regular gas was $3.23 yesterday, a decrease of two cents compared to the mark of the previous Sunday. Florida's average of $3.43 as of yesterday represented a drop of two cents.
The American Federation of Teachers is poking at the planned combination of Community Health Systems and Health Management Associates, saying it feels there are legal, regulatory and governance questions that need to be answered more completely.
Among the things AFT President Randi Weingarten said her group is concerned about is the role of hedge fund Glenview Capital Management, noting the firm's large stake in both CHS and HMA has it thinking about "the true beneficiaries of the proposed transaction, and the extent to which shareholders, employees, and the patients and communities they serve will be made to pay the long-term price for excessive short-term risk-taking by corporate insiders and controlling shareholders."
Weingarten said she is interested in meeting with the CHS board to talk some more about these topics.
In a letter sent Friday, CHS General Counsel Rachel Seifert said Glenview was not at all involved in the M&A talks, that the investor doesn't qualify as a controlling shareholder and that the union's worries are unfounded. No word on that meeting request...
One of the reasons investors have really liked the Dollar General story in recent years is that the company was able to balance operational improvements with strong new-store growth. The company plans to open 700 more stores in 2014 and has now given itself — and its competitors — a much longer growth ramp for the years after that courtesy of some new software.
Chairman, President and CEO Rick Dreiling told analysts and investors last Thursday that the technology has identified 14,000 possible future dollar store sites. That's up from 10,000 before and primarily the result of better pinpointing of specific spots versus broader demographic areas.
"It's up to us to go out and grab them," Dreiling said of the growth ahead. "If we open 700 stores a year, there’s a lot of growth opportunities out there for a long time to come."
And more reasons for some investors to stick around longer. Dollar General shares (Ticker: DG) climbed more than 6 percent last week and are up more than 35 percent in 2013.
Mark Montagna at Avondale Partners has raised his price target for shares of Genesco (Ticker: GCO) to $70 from $67 on the heels of the company's third-quarter earnings report last week. Montagna also took his EPS target for this fiscal year up to $5.15 from $5.09 and says his price target is consistent with Genesco's earnings multiple of the past couple of years.
The leader of the Workgroup for Electronic Data Interchange is crossing his fingers the health care sector's main players will — maybe, sorta, almost — over the next decade get their act together to have the patient information process "kind of be seamless." Devin Jopp tells MarketWatch's Russ Britt the industry shouldn't rely on any more government regulations to drive innovation and uptake. The impetus for true health IT integration between doctor offices, hospitals and clinics must come from those entities.
Rolling Stone owner Wenner Media plans to next spring launch a website dedicated to country music and is hunting for between 10 and 15 editorial staffers, reports Ad Age. Gus Wenner, who says his team also will publish a country-themed special issue next year, tells Ad Age he's making a long-term commitment to Music City.
"I went through a lot of the iterations and proposals and modeling for Rolling Stone Country, but the most important thing was a trip I took down to Nashville," he said. "That is a culture that appreciates music."
"We're really doubling down on country: in the office, the people, the logo and the art that's going into the new site," he added. "You're going to realize that this thing is for real. This isn't something we envision putting up and pulling down if ad dollars dry up."
A permit has been issued to allow construction to move forward on the latest in a group of residential buildings on the Meharry Medical College campus. To be located at 929 Dr. D.B. Todd Blvd., the start of the building follows a simliar start early this year on a building to be located at 1809 Morena St. Skanska USA Building Inc. has the contract for both, with the former valued at about $5.2 million and the latter valued at about $3.75 million. Read more here about the project.
A vintage masonry commercial building located one block south of Broadway has changed ownership hands for $3.56 million, according to Davidson County property records.
Located at 120 Third Ave. S., the building (seen in below image courtesy of Google Maps) is home to events space aVenue and restaurant/bar Past Perfect, both of which are expected to remain as tenants, according to The Tennessean.
The buyer is a group of investors who created Third Ave South 120/122 LLC for the transaction.