20
Jul/11

Chrysler Suspends Workers Accused of Drinking

by Jamie Price under Business News

“Work hard, party harder.” Some workers at a Chrysler engine plant in Michigan might use this phrase to describe their ethic, but unfortunately, a local TV crew from WJBK-TV says it filmed only the latter. Chrysler suspended nine employees without pay after they were seen allegedly smoking pot and drinking beer during their lunch breaks at a nearby park. The story comes 10 months after similar lunchtime behavior got caught on film at a different plant in Detroit, notes AP. Two workers ended up getting fired over that footage.

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20
Jul/11

Memphis-based National Cotton Council urges Congress not to cut subsidies

by Jamie Price under Business News

WASHINGTON – The Cordova-based National Cotton Council joined 33 agriculture-related trade associations today in urging conferees in the debt ceiling debate not to sacrifice farm programs in their zeal to reduce the deficit.

The letter to President Barack Obama, House Speaker John Boehner, Senate Majority Leader Harry Reid, Senate Minority Leader Mitch McConnell and Minority Leader Nancy Pelosi sought a timely resolution of the debt issue that provides “budget certainty for all federal policies, including uing Farm Bill negotiations.”

Specifically, the groups asked that the Senate and House Agriculturemittees determine how reductions are made to farm programs because of their expertise. They

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20
Jul/11

Bank of the Ozarks Announces 2-For-1 Stock Split

by Jamie Price under Business News

Bank of the Ozarks Inc. announced Tuesday a two-for-one stock split effective Aug. 16 for shareholders of record Aug. 5.

The split will be the third for BOZ stock since its initial public offering 14 years ago and the first stock split – not including ominous reverse splits – by an Arkansas company since Murphy Oil Corp.’s two-for-one split in June 2005. Bank of the Ozarks stock previously split in June 2002 and December 2003.

The stock opened at $53.47 on Wednesday morning, up more than 1 percent from Tuesday’s closing price of $52.80.

“This declaration reflects our Board’s confidence in our ability to drive long-term value to our shareholders and recognizes our Company’s strong market performance and continued growth prospects,” Chairman and CEO George Gleason said in a press release announcing the split.

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20
Jul/11

Worldwide Spending on Gaming to Surpass $74 Billion in 2011

by Kelly Long under Business News

Consumers around the world will spend more than $74 billion on gaming in 2011 according to the latest report by analyst firm Gartner, Inc. Spending on the gaming ecosystem which, among other, includes gaming consoles such as Sony PlayStation, gaming software and mobile gaming, will increase by 10 percent by the end of the year compared to 2010. Gartner estimates that by 2015, spending will climb to staggering $112 billion.

In the next five years, the gaming software will see the largest growth representing close to two-thirds of consumers’s gaming spending. In 2011 the gaming software component will represent $44.7 billion. 

“This large market size means that many consumers embrace gaming as a core piece of their entertainment budget and will continue to play as long as game publishers deliver compelling and fun games,” Fabrizio Biscotti, research director at Gartner said in a statement.

Online gaming today accounts for $11.9 billion of total gaming market spending, but the analyst firm projects that by 2015 it will rise up to $28 billion. Gartner

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20
Jul/11

Amazon pushes for another tax change

by Jamie Price under Business News

Amazon agreed to build two Tennessee fulfillment centers similar to this one in Goodyear, Ariz., based on a promise of sales tax exemption. Now , the online retailer is pushing for a change in California law to permit a similar arrangement there.

SAN FRANCISCO — Amazon, the world’s largest online merchant, has an ambitious and far-reaching new agenda: It wants to rewrite tax policy for the Internet era.

Amazon is pushing a voter initiative in California that could eliminate sales tax for virtual sellers with only a modest physical presence in the state. Its move instantly escalated thepany’s long-running battle with many states over collecting sales tax, taking the question directly to voters. And it has sharply intensified its dispute with physical retailers like Wal-Mart Stores and Target, which have vowed to fight the measure.

Some political science and business professors say the conflict could take on the polarizing nature of Proposition 13, a decades-old referendum that limited property tax increases and remains a lightning rod in the state.

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19
Jul/11

Builder Feature: Showcase spotlights two luxury homes, benefits American Cancer Society

by Jamie Price under Business News

The kitchen in the home at 5250 Winestone Cove is spacious and light, with a large island suitable for bar seating as well as food preparation.

Kircher-Belz Builders, AT HOME Tennessee magazine and River City Land Co. are throwing a party and the public is invited.

The 2011 Home Showcase event will be held this weekend and the following two weekends. Guests will get to tour two new upscale homes in the Bocagemunity near the corner of White Station and Walnut Grove Road, while making a tax-deductible contribution to benefit the American Cancer Society.

“We believe this event will be a great opportunity for people to see two custom homes in a great part of town,” said Griffin Elkington, Principal Broker for River City Land Co.

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