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Posts with tag Lebanon

Big company, small town: Cracker Barrel Old Country Store, Lebanon, Tennessee

This post is part of our Big Company, Small Town series, featuring large companies and the small towns in which they are headquartered.

As with many interstate travelers, the Cracker Barrel is a regular meal stop during my family vacations. Partaking of some comfort food, perusing the country store for toys and foodstuffs we recall from our childhoods, and resting for a spell in the rocking chairs can be just the thing after long hours on the road.

But also like many travelers, I'm sure, I had no idea that the Cracker Barrel came from the small town of Lebanon (pronounced LEB-nun by many natives), Tennessee, the county seat of Wilson County, east of Nashville.

A local spring was the chosen site for the town, and a nearby grove of red cedars inspired the town's biblical name. The town was incorporated in 1819, and Cumberland University opened its doors there in 1842. The town square -- which today features antique and gift shops that bring tourists from far and wide -- was the site of a Civil War battle in 1862. Some 130 confederate soldiers are buried at Lebanon's historic Cedar Grove Cemetery.

The town expanded once the Tennessee and Pacific Railroad came to town after the Civil War, followed by the Lebanon Woolen Mills and the Gulf Red Cedar Company in 1908. General George Patton's tanks passed through the town on their way to Europe, and after World War II, the town expanded again, with the opening of Tennessee's first industrial park, which is the site of Cracker Barrel's corporate headquarters.

Continue reading Big company, small town: Cracker Barrel Old Country Store, Lebanon, Tennessee

Oil gushes through the $125 mark!

I know that last thing you probably wanted to hear this morning was that oil prices moved even higher, but that is exactly what is taking place, as oil rose as high as $125.98 and is currently trading at $125.60.

Leading the charge today is the weak dollar as investors continue to seek refuge from the falling U.S. currency in commodities -- most notably, oil. The dollar has fallen today against the euro, the British pound, and the Japanese yen. The euro was sitting at $1.5404 last night, but has moved higher today, up to a current price of $1.5466.

The market is also concerned about the upcoming peak driving season for Americans. With the season getting under way, oil prices will definitely continue to rise, and if gasoline stockpiles continue to fall, you can be sure that gasoline prices are also going to keep moving higher over the next couple of months. Will we see national averages of $4 or greater? I don't think so, but at the current rate prices are moving, nothing is out of the question right now.

Continue reading Oil gushes through the $125 mark!

Oil making strong move to close out the week, sets new high

Oil prices moved to new highs today as traders continue to weigh concerns coming out of the Middle East. After hitting a new high of $92.22 earlier in the session, prices are now trading up $1.25 to $91.71.

The reasons for today's move are once again tensions in the Middle East, which have helped crude prices jump over 7 percent since Tuesday. There are several factors that are leading to rising prices, so let's take a closer look at each of these contributing factors.

The first factor is tension between Iraqi Kurds and Turkey. This began last week when Kurd rebels from Northern Iraq invaded Turkey and killed 12 members of the Turkish army. This has resulted in Turkey amassing around 100,000 troops along the border between the two countries. There have been reports that Turkey has been firing artillery across the border, and reportedly shelled three different villages in Northern Iraq yesterday.

There have also been reports of an altercation between Israel and Lebanon yesterday. Apparently the Lebanese army fired on Israeli warplanes. This raises the fear that if violence escalates then it would pull in some of the larger oil producers in the region.

Continue reading Oil making strong move to close out the week, sets new high

Oil prices move higher on Middle East concerns

Oil prices have picked up right where they left off yesterday, fueled by new concerns over tensions in the Middle East. Prices have moved up $1.42 on the day to $88.52 and hit an intraday high of $88.99 earlier in the session.

Yesterday, traders pushed prices higher after the U.S. Energy Department's weekly inventory report showed an unexpected decline of 5.3 million barrels, but today's extra price gains are being attributed to new violence between Israel and Lebanon. Any Middle Eastern conflicts will result in price gains, and that is exactly what we are seeing today on news that Lebanese troops fired on Israeli warplanes.

While it is true that a conflict between Israel and Lebanon would not impact supplies from the region, there is always the fear that an escalation of violence between the two would draw in the big oil players in the region. This is the first encounter since last summer's conflict between Israel and Hezbollah rebels, which pushed oil prices to last summer's highs.

Continue reading Oil prices move higher on Middle East concerns

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Last updated: December 02, 2008: 09:23 AM

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