Monthly Archives: May 2012

Ruby Tuesday upgraded by TheStreet

 

Despite disappointing first quarter earnings, restaurant chain Ruby Tuesday stock was upgraded today by TheStreet Ratings.

Ruby Tuesday

Ruby Tuesday

 TheStreet, a digital financial media company, upped the Maryville-based casual dining chain from hold to buy.

“The company’s strengths can be seen in multiple areas, such as its revenue growth, reasonable valuation levels and largely solid financial position with reasonable debt levels by most measures. We feel these strengths outweigh the fact that the company has had sub par growth in net income,” TheStreet Ratings said.

 

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Pilot Flying J expands — again

Update: Canada location corrected.

Pilot Flying J continues to expand its North American footprint. The Knoxville-
0306pilot.MP.jpgbased company announced today it will open seven new travel centers in June and July.

Six locations will be in the U.S. – Cleveland, Tenn.; Anna, Texas; Murdo, S.D.; Ferndale, Wash.; Klamath Falls, Ore.; Sioux City, Iowa – and one in Canada in Nanton, Alberta.

Pilot Flying J operates the largest travel center network in North America with more than 600 locations.

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Miller Energy Reources beefs up legal team

 

Miller Energy Resources has added veteran corporate lawyer Kurt Yost to its executive team.

Yost, 40, joins Miller as senior vice president and general counsel, the Knoxville-based oil and natural gas exploration company announced today.

“We believe that Kurt’s wide range of legal experience, particularly in corporate finance, is the right fit to lead our existing legal department,” CEO Scott. Boruff said in a statement.

 

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TVA named Freedom Award finalist

The Tennessee Valley Authority is one of two Tennessee employers selected as finalists for the
ETP02.SY.jpg2012 Freedom Award, Employer Support of the Guard and Reserve, a Department of Defense agency, announced today.

Marketing firm iostudio of Nashville was also selected as a finalist.

The Secretary of Defense Employer Support Freedom Award is given to employers in recognition of their support of employees who serve in the Guard and Reserve.

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Does Chinese deal drop Regal Entertainment to No. 2?

twilight_atb_12.jpgKnoxville-based Regal Entertainment Group Inc. has been the dominate movie theater operator in
 North America for years, but that could be about to change.

Dalian Wanda Group Co., a Chinese conglomerate, announced over the weekend that it plans to buy AMC Entertainment, the second-largest theater owner in the U.S.

Wanda and AMC said their merger would create the largest theater company in the world, according to a news release.

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Government regulations that make sense

We hear a lot from businesses and politicians about needless, costly government regulations. I agree that some regulations can make it difficult to do business. But it’s also true that certain regulations are a good for business and good for the public.

Regulations that save lives are good government. Like the U.S. Department of Transportation proposal to require anti-rollover technology on buses and big trucks. Electronic stablity controls could save hundreds of lives a year.

Here’s more from Bloomberg:

U.S. Proposes Anti-Rollover Technology Mandate for Trucks

 

Buffett boosts bet on newspapers

The newspaper industry got a dose of good news today with word that billionaire Warren
1e5ec597e241f20c0e0f6a7067003053.jpgBuffett’s company Berkshire Hathaway is buying 63 papers from Media General Inc. for $142 million.

The deal includes the Richmond Times-Dispatch and would give Buffett 25 dailies across the coutnry.

Newspapers have had tough times in recent years, but Buffett apparently sees a brighter future as papers implement paywalls for their online products.

“We may buy more newspapers. I think the economics work out OK,” Buffett told shareholders at Berkshire’s annual meeting earlier this month.

More details:

Reuters: Warren Buffett to buy Media General newspapers

Poynter: Media General, Warren Buffett agree on paywalls

Washington Business Journal: Warren Buffett to buy Media General

 

 

Tenn. 15th in private equity investment

Private equity investors are finding fertile opportunities in Tennessee. In 2011, 42 Tennessee-based companies received more than $3.2 billion in private equity investment , according to a report released today by the Private Equity Growth Capital Council, an industry lobbying group.

Compared to other states, Tennessee ranks 15th in total investment value. The top five states are Texas, $20.5 billion; New York, $18.6 billion; California, $15.7 billion; North Carolina, $10.4 billion; and Oklahoma, $8.7 billion.

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Own a piece of history — buy Secretariat’s birthplace

Want a piece of horse racing history to call your very own? Here’s your chance — the birthplace of 1973 Triple Crown winner Secretariat is up for auction.

The 331 acre property 25 miles north of Richmond, Va., includes the restored 12,850-square-foot Meadow Farm manor house.

The property was purchased in 1973 by The Virginia State Farm, but “the economics never worked out and the property has foreclosed,” according to a news release.

The aution is May 22. Click here for details.

More details: Triple Crown winner Secretariat’s birthplace to be auctioned

Secretariat’s victory in the Belmont Stakes is the most amazing horse race in the history of the universe. Click here for a YouTube video of the race.

Is buying Facebook stock a good idea?

f46296b17e1b890d0f0f6a70670043b3.jpgFacebook’s much-anticipated IPO is expected this Friday. Should you invest? Or is the smarter move to hang on to your money? 

Everybody has an opinion about investing in the social media goliath. Some experts say Facebook CEO Mark Zuckerberg is too young to run a major company — he turned 28 today. Others say Facebook is the biggest investment opportunity of all time.

Regardless of how you or your broker feel about the company, it will be one of the largest IPOs in history and it will make Zuckerberg and other Facebook executives even richer.

He’s a sample of what pundits from Wall Street to Silicon Valley are saying.

Yahoo Finance/ Breakout: The Right & Wrong Way to Buy Facebook

CNET: Everything you need to know about the Facebook IPO

PCmag: Facebook IPO Week: The Basics 

Forbes MoneyBuilder: Facebook IPO Approaching: Will You Buy Shares?

The Daily Ticker: Facebook IPO: Biggest Risks and Opportunities

CNBC: Quiz: What’s Your Facebook IQ

Photo: In this Feb. 5, 2007 file photo Facebook CEO Mark Zuckerberg smiles in his office in Palo Alto, Calif.