Morning Links: 7 August 2008

O'Charley's lowers estimates, Michigan takes next step on project where Clarksville is competitor, earnings from CCA and others, think tank recruits from D.C., and more...

Email | Print By Geert De Lombaerde

O'Charley's said it lost $7.8 million last quarter on sales that were down 3 percent from a year ago. The company (Ticker: CHUX) also slashed its outlook for the rest of 2008. The stock is down almost 10 percent in early trading.

Michigan Gov. Jennifer Granholm has signed into law an incentive bill designed to help Hemlock Semiconductor choose Michigan over Clarksville for a 4,000-employee plant. (Read our recent story on this topic here.)

Second-quarter revenue at Advocat (Ticker: AVCA) rose 28 percent, but rising expenses slashed profits by more than 80 percent from a year ago.

Belmont alum Shaka Mitchell had been named EVP at the Tennessee Center for Policy Research, an independent think tank. Mitchell returns to Nashville after a stint at the Institute for Justice, the advocacy group that, among other projects, recently jumped into the Joy Ford fray.

A unit of Clarcor (Ticker: CLC) had considered moving to Middle Tennessee, but will consolidate its operations in the Louisville area.

Corrections Corp. earned $37.5 million last quarter, up 15 percent from a year earlier. The company (Ticker: CXW) also lowered the top end of its remaining ’08 earnings guidance.

Delek US Holdings returned to profitability last quarter, earning $4.0 million on revenue of $1.4 billion. A year ago, the parent of Mapco (Ticker: DK) earned $67 million.

Brookdale Senior Living – which acquired Brentwood-based American Retirement Corp. two years ago and officially moved its HQ here this spring – narrowed its second-quarter losses on the back of revenue growth and smaller depreciation and amortization costs. The company (Ticker: BKD) said occupancy rates rose steadily during the quarter.

Nashville CARES and the Comprehensive Care Center, the region’s top two AIDS services providers have inked a deal to move in together. The groups are hunting for a downtown location and expect the relocation to take up to two years.