Monthly Archives: November 2012

More companies in a party mood this year

 

ChristmasHiring remains sluggish, but at least most companies are in a party mood.

More than 83 percent of companies are planning a holiday party this year, according to a recent survey of human resource executives. That’s up from 68 percent in 2011, but still lower than the 90 percent who partied in pre-recession 2007.

The survey by consulting firm Challenger, Gray & Christmas found that 10.3 percent of the companies surveyed are having a holiday party after one or more years of not partying. Seventeen percent of the companies said they will spend more on this year’s holiday party than they did in 2011.

 

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UT MBA program makes Businessweek rankings

What a difference a year makes. The University of Tennessee’s full-time Master of Business Administration program is among the best MBA programs in the country, according to Bloomberg Businessweek’s recently released 2012 rankings.

UT’s program is No. 60 overall and No. 26 among U.S. public universities that offer full-time MBA programs.

Last year UT did not make the rankings.

“The Businessweek ranking recognizes the overall quality of our full-time MBA program and reflect’s the program’s contribution to the university’s goal of becoming a Top 25 institution,” Annette Ranft, associate dean for academic programs at the UT College of Business, said in a news release.

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Free job-search advice from Challeger, Gray

 
Job OpeningsJob seekers can get free job-search advice this holiday season from global outplacement firm Challenger, Gray & Christmas Inc.

Challenger’s annual two-day job-search call-in is scheduled Dec. 27-28 from 10 a.m. to 6 p.m. EST.

The telephone number is 312-422-5010.

The Chicago consulting firm will suspend regular operations during the call-in period “so that its staff of professional counselors can provide free job-search advice to callers from across the country,” the company said in a news release.

 

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TVA pays record $579M to state, local governments

The Tennessee Valley Authority paid a new high of $579 million in tax equivalent payments in fiscal year 2012, a $49 million increase over fiscal 2011.

The biggest chunk – more than $354 million – was paid to Tennessee governments.

TVA pays tax equivalent payments to state and local governments in the states where it sell electricity or owns power plants and other assets.

“These funds provided by TVA play a significant role in the continued economic development, improved quality of life, and strong community growth across TVA’s service region,” outgoing TVA President and CEO Tom Kilgore said in a news release. “The payments also are an important part of TVA’s mission to help the consumers we serve every day.”

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Alcoa completes $600M Tapoco deal

 

Aluminum company Alcoa said Thursday it has completed the sale of its 378-megawatt Tapoco Hydroelectric Project to Brookfield Renewable Energy Partners.

Tapoco includes four hydroelectric power generating stations and dams on the Little Tennessee and Cheoah rivers in East Tennessee and western North Carolina.

The $600 million deal also includes 86 miles of transmission line and about 14,500 acres of land surrounding the hydroelectric project, Alcoa said in a news release.

 

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Scripps Networks losing government affairs head

 Scripps Networks Interactive is losing its chief legal officer and the head of its government affairs office in Washington, D.C.

 A.B. Cruz III said he will leave the Knoxville-based lifestyle media company effective Dec. 14, the company said in a news release. Cruz, a rear admiral in the the U.S. Navy Reserve, is leaving “to allow greater flexibility in fulfilling his military responsibilities,” the company said.

On Oct. 1, Cruz started work with the Navy Reserve as deputy director of maritime operations at U.S. Fleet Forces Commaind in Norfolk, Va.

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Corker says no worries about fiscal cliff

Sen. Bob Corker, R-Tennessee, said today the economy won’t tumble over the fiscal cliff, despite all the gloom and doom talk coming from Washington.

Corker told CNBC the expiration of the Bush tax cuts at the end of the year, followed by automatic spending cuts “is just simply not going to happen.”

He didn’t explain exactly how the government would avoid the cliff, but suggested the debt ceiling is a more important issue.

Click here for more fiscal cliff coverage by CNBC.

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Facebook users to pick Vol Court winner

The University of Tennessee Vol Court business pitch competition has a social media twist this year.

For the first time the winner will be chosen by a vote of Facebook users.

Voting has started and ends at 11 p.m. on Nov. 13.

At stake are cash prizes, office space and consulting services from Pershing Yoakley and Associates and mentoring services from the College of Business Administration’s Anderson Center for Entrepreneurship and Innovation.

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Analysts expect profit swing from E.W. Scripps

Analysts are looking for media company E.W. Scripps to report a turnaround from a year ago when it releases its third quarter financial statement on Friday.

Scripps, the parent company of the Knoxville News Sentinel and the Memphis Commercial Appeal, is expected to report a profit of about 9 cents per share compared to a loss of 9 cents per share in the third quarter last year.

Revenues are projected to be up about 27 percent to $214 million for the quarter.

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Miller Energy shares poised to double?

Miller Energy Resources has taken its lumps from bloggers, websites and disgruntled Miller_Energy02.jpgshareholders who question the Knoxville company’s financial performance.

But today Miller caught a break with a positive piece on the financial website Seeking Alpha — perhaps because the authors have a long position on Miller.

Arvind Mallik and Jonathon Fite, Managing Partners of KMF Investments, suggest that Miller shares, are likely to double in value.

So far this year the oil and gas exploration and production company’s shares have increased from around $3 at the start if 2012 to $4.82 at mid afternoon today.

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