Business Economics and Finance

MURFREESBORO. Tenn. (OSBORNE) -- The CEO’s leading three of Tennessee largest employers are questioning the role of big corporations in American life.

The Business Roundtable claims some of the nation’s top brands as members. The Roundtable this week released a letter signed by nearly 200 member CEOs.

The letter expresses concern that American workers continue to struggle even as corporations thrive. The letter says in part “Too often hard work is not rewarded.”

NASHVILLE, Tenn. (OSBORNE) -- It’s getting increasingly difficult for young people to buy their first home and that’s a problem for the mid-state economy.

Lipscomb University economist Dr. Andy Borchers notes home ownership for those between 24 and 35 years of age is in “general decline.”

Barriers to home purchases include rising home prices, student loan debt, and the fact that young people are getting married later in life.

NASHVILLE, Tenn. (OSBORNE) -- Expect to see more Metro Officers patrolling the streets of the Entertainment District downtown on weekends.

The change comes in response to a reported jump in crime, including what the city describes as a 50 percent increase in thefts. 

In a press statement out Tuesday, Metro says seventeen additional officers will be patrolling the honky-tonk district Friday and Saturday nights. That includes a number of undercover officers working the bars.

MURFREESBORO, Tenn. (OSBORNE)  --  Fuel costs are dropping across Tennessee and nationwide, bucking the usual summertime trend toward higher prices at the pump.

Triple A says the average price for a gallon of regular unleaded gasoline has fallen 26 cents in the past year, 18 cents in the past month.

CHATTANOOGA, Tenn. (AP) — Workers at Volkswagen's plant in Chattanooga, Tennessee, have voted against forming a union.

A win would have offered the United Auto Workers its first fully organized, foreign-owned auto assembly plant in the traditionally anti-union South.

The vote of hourly workers began Wednesday and concluded Friday. The German automaker said in a statement Friday night that preliminary results show 833 employees voted against representation and 776 voted for it.

NASHVILLE, Tenn. (RANDY O'BRIEN) -- The Greater Nashville Realtors report over 4100 home closings in May, a ten percent jump over the same period in 2018.

Greater Nashville Realtors President, Andrew Terrell said the housing market hit an all-time high in May with record breaking sales. He said home sales surpassed the June, 2018 mark, the previous high on record.

The median price for a residential single-family home was $318,000. For a condominium it was $232,000.

NASHVILLE, Tenn. (OSBORNE) -- Tennessee companies will be watching closely as trade talks between the U.S. and Mexico continue Thursday in Washington.

The meeting was hastily called following last week’s threat by President Donald Trump to impose new tariffs on Mexico. The president wants Mexico to immediately curtail the number of immigrants arriving at the U.S. southern border.

LOUISVILLE, Ky. (AP) — The company that makes Jack Daniels took a hit from the Trump administration's tariff fight, estimating that the standoff dragged sales growth down by a percentage point for the entire year.

Brown-Forman Corp. posted fourth quarter sales of $744 million, which was well short of the $762 million that Wall Street had expected, according to a survey by FactSet.

Net income was $159 million, or 33 cents per share, which topped expectations by 3 cents.

MEMPHIS, Tenn. (WMOT/AP) -- One of Tennessee’s largest companies has been caught up in the trade and technology dispute raging between the United States and China.

The Chinese government has launched an investigation into the Memphis based shipping company. The move follows charges by Chinese tech giant Huawei that FedEx intentionally diverted some of its packages, a claim FedEx denies.

MURFREESBORO, Tenn. (OSBORNE) -- The new tariffs imposed on China overnight by President Donald Trump could be especially bad news for Tennessee.

A report released earlier this week shows the state’s exports already down dramatically before the new tariffs were imposed.

Early Friday morning the president raised tariffs an additional 15 percent on $200 billion dollars worth of Chinese imports. The Chinese government says it will retaliate.