Saturday: A mix of sun and clouds. An afternoon high in the upper 60s and even near 70 in spots. A southwest wind at 10mph.
Saturday Night: Cloudy and dry during the evening. Some light rain possible late in the night and toward daybreak. Expect ... More...
Tenn. Board of Regents Committee Recommends Tuition Increases
The Tennessee Board of Regents (TBR) Committee on Finance and Business Operations recommended increases in tuition/maintenance fees for the state's community colleges and some universities.
The TBR system includes six universities, 13 two-year colleges and 27 technology centers, providing programs to more than 200,000 students across the state. It does not govern the University of Tennessee instituions.
A spokesperson for the TBR committee said that the recommended increases "are lower than recent years thanks to improved state funding."
The committee is recommending increases of 3 percent for each of the 13 community colleges across the state and ranging from 1.4 to 6 percent for the six TBR universities. Students at the Tennessee Technology Centers will not see a maintenance fee increase.
The committee will forward the proposed rates to the full Board of Regents, which will vote on the recommendations at its quarterly meeting June 21. The rate recommendations are within the maintenance fee guidance adopted by the Tennessee Higher Education Committee last fall.
If approved by the Board, students at Tennessee State University will see a 1.4 percent maintenance fee/tuition increase, Austin Peay State University – 3 percent, East Tennessee State University – 4.6 percent, Middle Tennessee State University – 5.7 percent, and 6 percent at both Tennessee Tech University and University of Memphis.
When combined with mandatory fees (unique to each campus, including fees for athletics, student activities, etc.) already approved, the proposed price increases would amount to about $102 per year for community college students taking 15 credit hours and range from $72 per year at TSU to $546 at ETSU.
Maintenance fees are the charges based on credit hours for in-state students. For example, a student pays a flat rate for the first 12 hours of class credits and a discounted rate for any additional hours. Out-of-state students are required to pay tuition in addition to maintenance fees. Mandatory fees vary by institution, fund specified programs, and are paid by all students regardless of the number of hours they take.
The increased maintenance fees/tuition are needed to fund the portion of the mandated 1.5 percent salary increase for all state employees that was not funded through state appropriations and inflation cost increases in utilities and insurance. Most institutions also requested additional increases to fund efforts to increase student success.
For example, APSU plans to support a program called Inside Track, which uses data-informed academic coaching to impact student persistence. MTSU will increase tenured and tenure-track faculty to ensure academic program quality. And TTU will implement a Freshman Flight Path Program to increase the retention of first-year students. Community colleges will implement student retention efforts and a state-wide marketing plan to promote the value of Tennessee’s community colleges.
In previous years, state funding for higher education declined by about 30 percent, including a more than 2 percent base operating budget reduction last year.
The Tennessee Board of Regents is among the nation’s largest higher education systems, governing 46 post-secondary educational institutions.Monday, June 10 2013, 01:12 PM EDT
More Business News
Last Update on March 07, 2014 18:27 GMT
WASHINGTON (AP) -- U.S. hiring improved in February from the previous two months despite a blast of wintry weather, likely renewing hopes that growth will accelerate this year.
The Labor Department says employers added 175,000 jobs last month, up from just 129,000 in January, which was revised up from 113,000.
The unemployment rate rose to 6.7 percent from a five-year low 6.6 percent. More Americans started looking for work but didn't find jobs. That's still an encouraging sign because more job hunters suggest that people were more optimistic about their prospects.
The figures were a welcome surprise after recent economic reports showed that harsh weather closed factories, lowered auto sales, and caused existing-home sales to plummet.
WASHINGTON (AP) -- The U.S. trade deficit widened slightly in January as a rise in imports of oil and other foreign goods offset a solid increase in exports.
The Commerce Department says the trade deficit increased to $39.1 billion, up 0.3 percent from December's revised $39 billion deficit.
Exports climbed 0.6 percent to $192.8 billion, led by increased sales of U.S.-made machinery, aircraft and medical equipment. Imports also rose 0.6 percent to $231.6 billion, reflecting a 9 percent jump in imports of petroleum. Imports of food and machinery also rose.
The trade deficit is the difference between imports and exports. A higher trade deficit acts as a drag on economic growth because it means U.S. companies are making less overseas then their foreign competitors are earning in U.S. sales.
PORTLAND, Maine (AP) -- L.L. Bean says it had a record year for profits and saw revenue growth of 3 percent.
CEO Chris McCormick told workers on Friday that after four consecutive years of growth, the Maine-based retailer is ready to accelerate expansion plans. He says the privately held company plans its largest single-year capital investment and will spend an additional $100 million on website changes, retail expansion and business systems.
The company's performance beat the industry average.
L.L. Bean's board was happy enough with the revenue gain to authorize an 8 percent bonus for full-time workers. That's the biggest bonus since 2005.
In a memo to Bean's 5,100 full- and part-time workers, McCormick said the company has been conservative for the past few years and is now ready to "grab market share."
NEW YORK (AP) -- Shares of Coupons.com are close to doubling in their first day of trading on the New York Stock Exchange.
The stock gained $14.40, or 90 percent, to $30.40 in morning trading.
Coupons.com Inc. delivers digital coupons and coupon codes to consumers. It priced its initial public offering of 10.5 million shares at $16 per share. The company had initially expected to offer 10 million shares and expected them to be priced between $12 and $14 per share.
The Mountain View, Calif., company raised $168 million from the IPO.
Coupons.com had 2013 revenue of $167.9 million, up from $112.1 million in the prior year.
The stock is trading under the "COUP" ticker symbol.
CHILD SEAT RECALL
DETROIT (AP) -- The federal government is ordering child seat maker Graco to explain why it didn't include 1.8 million infant seats in a recall for faulty buckles.
The National Highway Traffic Safety Administration says Graco has until March 20 to explain why last month's recall of 3.8 million child seats didn't include infant seats, which have the same buckles that can get stuck on the child seats.
Graco has said the child seat buckles get stuck because children drop food or drinks on them. It is sending replacement buckles to owners for free. It will also send replacement buckles for infant seats if owners request them.
NHTSA says Graco will face fines of $7,000 per day if its response is late or incomplete.
Graco said Friday it will comply with the request for an explanation.
TRENTON, N.J. (AP) -- A federal audit finds New Jersey did nothing wrong when it used a no-bid contract to hire a firm to clean up debris left behind by Superstorm Sandy in 2012.
But the U.S. Homeland Security Department says that towns that continued to use the firm for more than 60 days without putting the work out to bid might not be fully reimbursed by the federal government.
The contract and the firm, Deerfield Beach, Fla.-based AshBritt, drew the ire of lawmakers months after Sandy struck. That marked the first major political debate over how Gov. Chris Christie's administration responded to Sandy.
The audit was made public Thursday by Christie's office.
Christie's office criticized Democrats and the media for treating the contract as a scandal.
MIAMI (AP) -- A former law partner of convicted Ponzi schemer Scott Rothstein has been charged with conspiring to violate federal campaign contribution laws.
Court records show charges were filed Friday against Russell Adler, who was a principal in the now-defunct Fort Lauderdale law firm Rothstein Rosenfeldt Adler. The firm was liquidated after Rothstein's $1.2 billion Ponzi scheme was exposed in fall 2009.
Adler is charged with helping orchestrate thousands of dollars in bundled contributions from the firm's employees and attorneys to John McCain's 2008 campaign for president and Charlie Crist's run for the U.S. Senate. The contributions were illegally reimbursed by the law firm.
There is no indication that McCain or Crist knew of the illegal scheme. Adler has consistently denied wrongdoing.
Rothstein is serving a 50-year prison sentence.
Company confirms feds investigate visa use
An international tech consulting firm confirms the federal government is investigating its use of U.S. work visas.
A Mu Sigma spokeswoman told The Associated Press authorities asked the company to provide information related to its visas, and the company is cooperating fully.
Privately held Mu Sigma is headquartered in Illinois. CEO Dhiraj Rajaram also runs the company from offices in India.
Federal records show the company has brought in nearly 150 H-1B temporary workers since 2009. The Justice Department did not immediately respond to requests for comments.
The company declined to clarify whether the investigation is targeting H-1B or business visas.
Last year, tech giant Infosys settled a federal case for $34 million over allegations it used business visas to bring in temporary workers hired out for consulting work.
NEW YORK (AP) -- Coca-Cola CEO Muhtar Kent's pay fell 16 percent last year because his performance-based bonus took a hit.
Muhtar Kent's pay package was worth $18.2 million for 2013, according to a regulatory filing made with the Securities and Exchange Commission on Friday. That's down from the $21.6 million he earned the previous year.
The decline was primarily the result of a lower performance-based bonus, which fell to $2.2 million, from $6 million the previous year. That was the result of lower sales volume growth of just 2 percent for the year, compared with 4 percent the previous year.
A new cap was also put into place for the bonus, based on feedback from shareholders.
The AP's calculation counts salary, bonuses, perks, stock and options awarded to the executive during the year.
The Good Life
Celebrating the events, adventures and activities that represent "The Good Life" in the NewsChannel 9 viewing area.
Stories of HonorCelebrate black history all February long with Stories of Honor, sponsored by the Tennessee Lottery.
SideroadsTake a ride with Don Welch to explore the unique people and places to be found along the Sideroads of the NewsChannel 9 viewing area.
Road TrippinCome Road Trippin' with us and see all the great sites in your area!
Closings and DelaysThese are the latest School and Business Closings reported to NewsChannel 9. If you see errors or need to add a school or business, call 423-757-7320.
Educator of the WeekEach week WTVC will profile a teacher in Southeast Tennessee and acknowledge their part in the advancement of the education of their students and the contributions to their profession.
Deaf & Hard of HearingInformation provided to NewsChannel 9 by members of the Deaf and Hard of Hearing Community.
Sponsored EventsCheck Back Often for NewsChannel9 Sponsored Events!