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The per-gallon-price mood effect

The latest University of Michigan's consumer-confidence survey put in a weak showing, but it wasn't just high unemployment that has us a little less pumped.
Apr 19, 2010 8:58 AM

CCA competes on price

Kevin Campbell at Avondale Partners has taken a good look at the contracts Florida officials awarded last week to Corrections Corp. of America. Their impact looks to be about $15 million a year in revenue and about half a penny in profits. That last number is small because Campbell says it looks like CCA lowballed its per-diem rates.
As the incumbent, we believe GEO has the best understanding of what the costs are to manage the facility. With pricing well below the incumbent's target, it could be difficult for CXW to generate operating margins greater than 10%.
Apr 19, 2010 8:29 AM

Senior hire at Christian media group

Creative Trust Media, a Brentwood-based entertainment and management venture focused on the Christian market, has recruited Scott Lewis to be its co-managing partner. Lewis had been COO of a D.C.-based human rights advocacy group and a longtime exec at Young Life.
Apr 19, 2010 8:10 AM

Tractor Supply's ever-rising target

Analyst Peter Keith at JMP Securities has begun covering shares of Street darling Tractor Supply with an 'outperform' rating. Keith's price target is $78, slightly below the highest one out there and above those of his peers rushing to catch up to a stock (Ticker: TSCO) that has climbed 26 percent so far this year.
Apr 19, 2010 7:57 AM

This part of the flight will be fee-free

Five major lawmakers have told a group of lawmakers they won't follow the lead of Spirit Airlines and charge travelers for their carry-on bags.
Schumer and five other Democratic senators -- New Hampshire's Jeanne Shaheen, Maryland's Ben Cardin, Minnesota's Amy Klobuchar, and New Jersey's Robert Menendez and Frank Lautenberg -- support legislation that would tax airlines if they charge carry-on bag fees. Schumer said the legislation will move forward until it becomes clear that no airline will institute the charges. He will have an uphill battle changing the minds of Spirit executives when he meets with them soon.
Also, while you're waiting for the next Southwest commercials having fun with all this fee talk, check out some of the comments arguing the airlines have it backward when it comes to charging for fees.
Apr 19, 2010 7:31 AM

Another positive for AT&T on the labor front

A month after Communications Workers of America members approved a contract to replace one that had expired last year, AT&T's wireless subsidiary and the union have hammered out a tentative deal that covers more than 11,000 people across the Southeast.
Apr 19, 2010 7:10 AM

Noted real estate exec dies

Hal Wilson, a mainstay of Nashville's real estate scene for more than four decades, died this morning aged 66. After spending some time in the brokerage business, Wilson focused much of his career on the education of those entering the industry. He founded the Institute of Real Estate Training in 1982 and the Continual Learning Institute a year later. The Greater Nashville Association of Realtors last year named a new wing of its Trousdale Drive HQ after Wilson. On the business side, Wilson in 1988 launched a business that has since rehabbed hundreds of homes in the Nashville area while also handling listings. For more on Wilson's life, click here.
Apr 16, 2010 1:58 PM
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Bottorff to chair TVA

Tennessee Valley Authority Chairman Mike Duncan has told his board he needs to spend more time on his new political endeavors. Council Ventures chief Denny Bottorff will take over next month.
"The energy industry is changing in profound ways that will require major capital investments and different ways of doing business," Bottorff said. "The new environmental regulations that are being contemplated in Washington will present enormous challenges to TVA's engineering and financial teams, along with challenges – as well as opportunities – to its leadership and employees."
Apr 16, 2010 12:39 PM

BCBSTN adds vision plan

BlueCross BlueShield of Tennessee said Friday it has created a stand alone vision plan, VisionBlue, for its group health customers. The Chattanooga-based insurance provider said its got 460 Tennessee network locations for the plan subscribers.
Apr 16, 2010 11:20 AM

Fortune 500 features eight from the state

This year's Fortune 500 list features three Middle Tennessee-based companies, led by soon-to-be-public-again HCA, which checks in at No. 77. Also on the list — whose smallest company posted 2009 sales of $4.2 billion — from the Nashville are Community Health and Dollar General. Tennessee's top representative is again FedEx. A number of other highly ranked list members also have sizable local offices. Among them are AIG (No. 16), CVS Caremark (No. 18) and Caterpillar (No. 66). California-based Ingram Micro, where two members of the Ingram family sit on the board, ranks 80th with $29.5 billion in revenue.
Apr 16, 2010 11:02 AM