Tag Archives: forbes

UT beats Florida in Forbes college basketball rankings

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Florida may be the overall No. 1 seed in the NCAA mens basketball tournament, but the University of Tennessee is a much more valuable team, financially speaking.
UT is a sparkling No. 15 on Forbes’ 2014 list of the most valuable college basketball teams, with a team value of $14.1 million and a profit of $8.5 million.
Among its Southeastern Conference foes, the Vols trail only Kentucky, NO. 3 on the Forbes list with a team value of $32.5 million. But UT is well ahead of the Gators who finished outside Forbes’ Top 20 with a team value of $10 million +.
The financial details for the current rankings are from the 2012-2013 season and come from the U.S. Department of Education database, says Forbes, which published its 2014 list on Monday.
Ticket sales, alumni contributions, parking and concessions and NCAA tourney payouts are among the revenue sources cited by Forbes.
“Unlike our professional sports valuations, our college basketball values don’t represent what a team would sell for on the open market; as college teams, they obviously cannot be bought or sold. Instead, we use a weighted methodology to determine how much value the top college basketball teams generate for their athletic departments, universities and fellow conference members,” Forbes’ writer Chris Smith reports.
No. 1 on the Forbes list for the third straight year is Louisville with a team value of $39.5 million and a sizzling profit of $24.7 million.
The Vols lofty Forbes ranking continues to benefit from the tournament payout earned by the 2010 team, which made the NCAA Elite Eight and came within a whisker of the school’s first Final Four.
The Vols play their first NCAA tournament game since 2011 on Wednesday when they go up against Iowa.
Click here for the Forbes report.

Aluminum maker Alcoa battered by tough week

Alcoa Inc. Location Manager Ken McMillen, left, Sen. Lamar Alexander, Alcoa CEO Klaus Kleinfeld, U.S. Rep. John J. Duncan Jr., and Gov. Bill Haslam arrive for a groundbreaking for a $275 million expansion of the Alcoa Inc. rolling mill to produce automotive sheet aluminum on Thursday, Aug. 29, 2013, in Alcoa.  (Paul Efird/News Sentinel)

Alcoa Inc. Location Manager Ken McMillen, left, Sen. Lamar Alexander, Alcoa CEO Klaus Kleinfeld, U.S. Rep. John J. Duncan Jr., and Gov. Bill Haslam arrive for a groundbreaking for a $275 million expansion of the Alcoa Inc. rolling mill to produce automotive sheet aluminum on Thursday, Aug. 29, 2013, in Alcoa. (Paul Efird/News Sentinel)

The news hasn’t been good this week for aluminum manufacturer Alcoa Inc.
It’s stock price is tumbling, a Duetsche Bank analyst downgraded the stock to sell and forecasters were predicting aluminum prices would fall 12 percent or more over the next two years.
All this on the heels of Alcoa being booted last month from the Dow Jones Industrial Average.
The future of Alcoa, which recently announced plans for a $275 million expansion of its Blount County manufacturing operation, will have a significant impact on the East Tennessee economy. The company is investing in a plant upgrade in a move to take advantage of rising demand for aluminum by auto makers.
Alcoa will kickoff earnings season with the release of its quarterly financial report on Tuesday.
Given recent headlines it will be interesting to see how the company performed last quarter and its outlook for the near future.
Deutsche Bank analyst Jorge Beristain told Forbes the company should spin-off its primary metals business to ease its cash-flow problems.
Click the headlines below for more details:
CNNMoney: Alcoa CEO on debt ceiling
Motley Fool: Why Alcoa doesn’t seem so shiny
Forbes: Alcoa’s $1.2 Billion Drag: Analyst Makes Case For Breakup

Jimmy Haslam makes Forbes billionaires list

Knoxville businessman Jimmy Haslam is No. 831 on the 2013
Forbes list of the world’s billionaires.

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The CEO of Pilot Flying J and owner of the Cleveland Browns
has a net worth of $1.8 billion, according to Forbes.

“Pilot is one of the country’s largest privately held
companies, with $29 billion in sales. He gets most of his fortune from his 35%
share of his family’s 59% stake in Pilot,” Forbes reports.

Some 1,426 names are on this year’s world list. Carlos Slim,
a telecom magnate from Mexico, is again the world’s richest man  with a net worth of $73 billion.  Microsoft founder Bill Gates is No. 2 with a
net worth of $67 billion.

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Analysts expect increased earnings from Regal

twilight_atb_12.jpgGood things are expected from Regal Entertainment Group when the Knoxville-based movie
 theater operator releases its fourth quarter earnings on Thursday.

Analysts are predicting earnings of 20 cents per share, double the 10 cents per share the company reported in the prior-year quarter.

Revenue is expected to be up 14.9 percent from a year ago, reversing results from the previous two quarters when revenues were down from from the year before.

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Knoxville No. 2 on the ‘Happiest Workers’ list

Disneyland may be the happiest place on earth, but Knoxville has some of the happiest Sunset.PE.jpgworkers in the country.

So says CareerBliss, a website “dedicated to helping you find happiness in the workplace and therefore in life.”

Knoxville is No. 2 on the CareerBliss list of the “10 Happiest Cities For Workers.”

The happiest city is Dayton.

At the request of Forbes, CareerBliss asked 36,000 workers across the country to evaluate a variety of factors that affect workplace happiness. Things like growth opportunities, relationships with bosses and co-workers, compensation, company culture and work environment.

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Forbes: Tennessee 24th best state for biz

The cost of doing business in Tennessee is 10.5 percent below the national average, but the Volunteer State is only the 24th best state for business, according to a new Forbes magazine ranking.

That’s down three spots from a year ago.

Among the criteria Forbes used to compile its 2012 Best States for Business list, Tennessee fares best in Regulatory Environment – 13th – and Business Costs – 14th.

But the state is no better than 30th in all other criteria Forbes considered in ranking the states.

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Eastman Chemical expected to report higher profit

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.

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Analysts positive about Scripps Networks 2Q earnings

Analysts are expecting strong second quarter earnings from Scripps Networks Interactive when the Knoxville-based company files its financial report on Thursday.

The lifestyle media company is expected to post a profit of 87 cents a share, compared to 78 cents in the second quarter last year, according to Forbes.

2Q revenue is expected to be around $592 million, up 11 percent from the year-earlier period.

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Analysts expect reduced Alcoa earnings

Analysts are expecting aluminum giant Alcoa Inc. to report reduced earnings next week when it kicks off the second quarter earnings season.

Earnings estimates have dropped in the last few weeks to 6-7 cents per share, down from about early predicitions in the 12 cents range, according to a published reports.

However, many analysts continue to have a positive long-term outlook on Alcoa, a major player in the the Knoxville region manufacturing sector

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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.