Business
Shmerling buys food processor’s building
Nashville entrepreneur and real estate investor Michael Shmerling bought the 40,000-square-foot building occupied by Chairman’s Choice Foods, a company that is part of the food distribution and manufacturing company he helped co-found, Choice Food Group. …
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Outside Nashville: Smithville Company Develops A Body Blow Dryer, No Kidding
Smithville isn’t known for a lot beyond Center Hill Lake.
But there are manufacturers in the city. Federal-Mogul makes brake pads and discs there. Omega Apparel makes uniforms for the U.S. military. Shiroki North America makes auto seats.
Then there’s Smithville’s Kingston, a company with ties to billionaire Warren Buffett’s Berkshire Hathaway. Kingston makes motors and timers [...]
Analysis: Omni’s Slam Dunk Hedge?
Omni Hotels & Resorts and the city may get little resistance to the convention center hotel in Metro Council. Insiders here generally think the deal is a slam dunk, with convention center opposition rolling in favor of the hotel.
For Omni and its parent TRT Holding, however, the downtown hotel is a big bonus. The deal [...]
Snoop: LockMart Ghost, Jackson National TI, IRS Gets Cheap
Lockheed Martin isn’t close. Jackson National selects an architect. The IRS scores on Cool Springs property.
Word that Bethesda, Md.-based Lockheed Martin was looking at downtown came with a thud.
Why? The answer is that the deal has been floating around for months and isn’t considered a sure thing. It’s not even clear that the company has [...]
Vandy Study Underway As Precursor To Sports Summit
Ever wonder what happened with the Nashville Sports Summit, the gathering that was supposed to take place to create a vision for sports in Music City?
The idea didn’t die. It just took a back seat to the convention center and now has renewed interest and effort. The Vanderbilt Center for Nashville Studies is now working on an assessment of sports here and is expected to complete the work over the next few months. Leaders in the summit effort hope Mayor Karl Dean will get the report and then call on the community leadership to come together to create a sporting vision and strategic plan to carry Nashville forward.
Under the radar: Greyhound acquires necessary property
Property owners around Greyhound’s SoBro site can jump up and down all they want in opposition to the bus station but it may not matter.…
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Wall Street Continues to Pound Pinnacle Stock
Wall Street continues to pummel Pinnacle Financial’s stock and has driven shares to a new 52-week low this morning.
Twice the average volume yesterday pushed the stock to a 52-week low of $9.12 before closing at $9.15. But this morning shares have traded for as little as $9.00.
In general, the broader market has been struggling to [...]
Analysis: Dell in retreat
It was only a matter of time before Dell’s outsourcing to lower operational costs took greater hold on Nashville. Last year’s move in Lebanon to reduce work before selling the operation and then shutting down a 4-year-old plant in Winston-Salem, N.C., etched the writing in the wall.
Electronics manufacturing has shown itself to be tenuous, particularly when companies outsource more and essentially turn the business into a commodity. Contracts end and work gets shifted to other states or even overseas. Nashville saw that years ago when Hewlett Packard ended its contract with Celestica Inc. and sent the work to Alabama.
Analysis: Charlotte’s argument for streetcars could be made here
As Nashville tinkers with the notion of a $6.5 billion light rail regional network, one of the city’s main economic development competitors, Charlotte, N.C., continues to press forward with a street car system but faces opposition in the face of budget shortfalls for schools and libraries.
The Charlotte Observer made the case [...]
Buyer picks up last of four apartments in large 2007 foreclosure
The last apartment complex of a four-property foreclosure fiasco three years ago finally has a new owner, although the selling bank still is fighting the a previous owner over the old loans in a New York federal court.
For a song late last week, Columbia, Ky.-based investor Premier Real Property Holdings closed on the acquisition of Rolling Hills Apartments at 6535 Premier Drive.
