Tennessee’s economy is moving forward, but progress remains painfully slow, according to a University of Tennessee report released today.
After “exceptionally strong rates of economic expansion” in the first quarter, the state economy slowed sharply in the second quarter as effects of the debt crisis in Europe rippled across the globe, says the fall 2012 Business and Economic Outlook.
However, UT economists see the state and national economies posting modest gains through the first half of 2013.
Significant economic improvement is still a year or two away, according to the study prepared by the university’s Center for Business and Economic Research.
For the second straight holiday shopping season, FedEx Corp. is giving away $1 million to help
boost small business.
The package delivery company announced today that it will give away 40,000 American Express gift cards, each worth $25.
Consumers can apply for the free card via the FedEx Facebook page.
Speculation about the future of Scripps Networks Interactive is heating up. Bloomberg has a
lengthy story today about the likelihood that the Knoxville-based lifestyle media company will be snatched up by a larger media operation.
Walt Disney Co. and Time Warner Inc. are listed as possible suitors.
“Walt Disney Co. (DIS), owner of sports network ESPN, should be drawn to Scripps Networks as a way to add more female-friendly content, said Citigroup Inc. and Macquarie Group Ltd., which also sees Time Warner (TWX) Inc. as a potential acquirer,” Bloomberg reports.
Eastman Chemical is expected to report increased profit when it files its third quarter earnings report on Thursday.
Analysts are looking for a profit of $1.42 per share, which would be a 19 percent increase from $1.19 per share in the 2011 third quarter.
Eastman shares were down about 30 cents to $55.78 in early afternoon trading. The Kingsport, Tenn, company is a global producer of chemicals, plastics, and fibers.
FedEx, Volkswagen and Nissan have helped make Tennessee one of the top destination states for jobs, CNBC reports.
Tennessee ranks No. 7 with 141,845 people moving here for work during 2009-2010.
“Tennessee was one of only 15 states whose unemployment rate went down in 2009-2010. Of the 141,845 people who came into the state that year, many came from Florida, Georgia and Mississippi, all of whose unemployment rates had increased,” CNBC says.
Nobody likes to be called on their day off to come into the office. Telling the boss no takes some quick thinking. The best excuse I’ve heard for when the phone rings on the weekend — “Sorry, I just had a beer. I shouldn’t drive.”
A creative excuse and better than relying on the lame “I’m sick” excuse.
According to a recent study by Harris Interactive, 30 percent of workers have faked illness to get out of work.
However, some workers are a lot more creative when coming up with excuses. Here’s a list of some of the better ones, according to a recent CareerBuilder report. Feel free to borrow one the next time you want to stay home.
— Employee’s sobriety tool wouldn’t let the car start.
— Employee forgot he had been hired for the job
— Employee’s dead grandmother was being exhumed for a police investigation
–Employee’s toe was stuck in faucet
–Employee said a bird bit her.
Click here for the full CareerBuilder report.
Tennessee slipped a notch, but remains among the most business-friendly states for taxes, according to a new Tax Foundation report released today.
The state is 15th on the Tax Foundation’s 2013 State Business Climate Index, down from 14th in the 2012 index.
The 2013 index reflects tax policies for the various states as of July 1, the first day of the 2013 fiscal year.
Tennessee’s taxes are more business-friendly than all bordering states, which can be an edge in business recruitment.
Oil and gas company Miller Energy Resources has completed a public preferred stock sale that raised $15.75 million.
The Knoxville-based company sold 685,000 shares at a price of $23 per share.
The 10.75 percent Series C Cumulative Redeemable Preferred Stock will trade on the New York Stock Exchange under the symbol MILLprC, Miller announced.
Restaurant chain Ruby Tuesday had its wrist smacked by the Massachusetts Attorney General’s Office this week over child labor allegations.
The Maryville-based company has agreed to pay $125,000 to settle the allegations, according to a report in the Boston Business Journal.
Regal Entertainment Group continues to go big.
The Knoxville-based movie theater operator said today it will install 10 new IMAX theaters, which will give the company 87 IMAX screens in markets across the country.
The deal is part of an expansion of an existing jont revenue sharing agreement with IMAX Corp., Regal said in a news release.