The Food Biz: Saturday Night Special

A Franklin diner’s once-a-week Italian overhaul has quickly turned into a big winner [From our print edition featured in Monday's City Paper]
Mar 14, 2011 12:01 AM

Analyst action: BioMimetic

William Plovanic of Canaccord Genuity has reitered his 'buy' rating on shares of BioMimetic Therapeutics following the Franklin company's fourth quarter earnings release yesterday, citing the fact that there were no changes in the company's expeations for the regulatory timeline for approval of Augment for use in foot and ankle fusions. 

He also noted that "the distribution strategy and the new VP of sales and marketing show the company's intention to make a big impact in the lower extremity market."

Canaccord has a price target of $17.50 on BioMimetic's shares (Ticker: BMTI). The stock was trading near $13 per share Friday morning, up more than 1.5 percent on the day.

Mar 11, 2011 11:33 AM

Local acquisition cause for another Smith & Wesson writedown

The tide has turned dramatically at Universal Safety Response, the Franklin-based manufacturer of security barriers that sold itself to Smith & Wesson in the summer of 2009. On track to add "substantial ongoing growth" to its parent last summer, the business is now struggling with lower sales, lower margins and government customers who don't have money to spend. Smith & Wesson yesterday told investors it will take a $51 million impairment charge related to USR — on top of the $39.5 million it wrote down three months ago — and change the division's name to play off the mothership's heritage.

SEE ALSO: Smith & Wesson buying Franklin firm in a deal valued at about $80 million

Mar 11, 2011 9:21 AM

BioMimetic reports $10M loss

Company continues toward FDA approval
Mar 10, 2011 4:25 PM

Big HealthSpring investor dives under 5% threshold

The folks at New Jersey money manager Lord Abbett appear to have decided to cash in their HealthSpring chips. Since the end of 2010, they have trimmed their stake in the local Medicare Advantage insurer by almost 580,000 shares and now own 4.2 percent of the company, down from 5.8 percent last fall. HealthSpring's stock (Ticker: HS) is up almost 40 percent year to date and has more than doubled in the past year, lifting its market cap well north of $2 billion.

Mar 10, 2011 12:02 PM

PureSafety recruits software directors

New hires join from Passport Health, Aspect Software
Mar 10, 2011 12:01 PM

Rock and Roll All Nite and estate plan every day

Danny King at Daily Finance has the story of Cool Springs Life, a group of high-end financial planners who were looking to make inroads into the entertainment industry. Where to find someone who could open doors and be a credible financial personality? Why, in Detroit Rock City, that's where, in the form of Kiss bassist, entrepreneur and master merchandiser Gene Simmons. Plus, he's always good for a quote.

"I didn't buy my first car until I was 34. . . . I didn't buy my first house until I was 36," Simmons said in an interview with DailyFinance. "Why do you need them when you're always on the road? I lived with my mother until I was about 20. You wanna go out and have some privacy? You go to a hotel."

Learn more about the men behind Cool Springs Life here.

Mar 10, 2011 7:23 AM

Big contract for MedSolutions

As part of a strategy to "unroll" programs in various U.S. regions, insurance firm Cigna has selected Franklin-based MedSolutions as its nationwide radiology benefits manager. The sizable contract — Cigna is one of the largest for-profit insurance companies in the country — extends the companies' 13-year relationship.

MedSolutions, led by CEO Curt Thorne, has been growing of late. The company secured a new $300 million investment at the end of 2010.

Mar 8, 2011 11:51 AM

Franklin wants a money manager

The pension fund for Franklin government workers is on the hunt for a large-cap equity manager to handle $10 million. Check out the details here.

HT: Pensions & Investments

Mar 7, 2011 7:08 AM

Vanderbilt adds to Williamson medical offerings

Vanderbilt's Bill Wilkerson Center, which works on ENT, speech and language-related conditions, is expanding its services to two sites in Franklin.
Feb 18, 2011 10:44 AM