The team behind Alabama-based Moe's Original Bar B Que has begun working on its second Middle Tennessee location, the downtown Franklin site formerly home to both a Copper Kettle outpost and Uncle Bud's Catfish Shack. The restaurant is expected to open its doors around Labor Day and be able to house 85 people inside and another 50 on a patio. Check out more info here.
The team at J. Alexander's plans to build a nearly 8,000-square-foot Stoney River Legendary Steaks outpost in Germantown near Memphis. The location will be Stoney River's 11th and is expected to open around year's end. Stoney River, where the average customer spends more than $45, has been part of the J. Alexander's family since early 2013.
SEE ALSO: J. Alexander's rolling out third brand ahead of NYSE return from early this month
Bound'ry — which opened in 1995 and garnered immediate acceptance as one of Nashville's best restaurants at the time — has closed.
Dana Kopp Franklin, our colleague at Post sister publication Nashville Scene, reports that employees were reportedly told Monday that the restaurant, currently closed this week in what originally was described as renovation of its space, would actually shutter for good.
An employee of Bound'ry sister restaurant South Street told the Scene a different restaurant concept will soon open within the space.
Shares of Cracker Barrel Old Country Store have put up a strong four-year run, rising from $40 to $150. They may soon get another boost thanks to the indexers at Standard & Poor's, who have promoted the company's shares (Ticker: CBRL) to the MidCap 400 Index from the SmallCap 600. The move is effective Wednesday afternoon.
Technical analyst Garrett Patten says he doesn't see much more upside in shares of Cracker Barrel Old Country Store, which have gained 5 percent (Ticker: CBRL) so far in 2015. The stock has in recent years dipped steeply after rising well above its 200-day moving average, he writes, and it could well be on its way to repeating that pattern.
This year alone saw two instances of this behavior, at the January and March highs, which deviated from the 200-day SMA 25.5% and 26.5% respectively. While price is currently only 11% from the 200-day SMA, the technical strength behind each subsequent rally has been steadily deteriorating.
Private prison operators are no strangers to controversy or to being the targets of protests. The latest chapter of that book was written Monday, when the trustees of Columbia University announced that the school's $9 billion-plus endowment will divest itself of private prison companies, including Corrections Corp. of America (Ticker: CXW). Shelly Banjo at Quartz has more here.
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