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All Over the Ice



Work stoppages are a pain. Employees want to work, and owners want their businesses to run, so when agreements cannot be reached people get headaches. But for someone like Nashville Predators defenseman Kimmo Timonen, taking two Tylenol is not going to come close to helping this one.

Timonen and his coworkers, the players that make up the National Hockey League, are being locked-out by the owners and League Commissioner Gary Bettman until a new collective bargaining agreement (CBA) can be reached.

But Timonen’s owner-induced absence from NHL arenas isn’t the only financial aspect of hockey causing him to rub his temples. Timonen is also a part owner, along with countryman and Philadelphia Flyer Sami Kapanen, of the Finnish Elite League team, KalPa-Kuopio.

Timonen, 29, and Kapanen played together for KalPa, which roughly translates to “sword,” in the early 1990s. Timonen moved on to a second and third Finnish team, played for Finland in the Nagano Olympics, and played again for his country in the Hockey World Cup in September, seeing his team finish second to Canada the same night the previous CBA expired. After transitioning from Finland to the United States, he played for the Predators’ minor-league affiliate Milwaukee Admirals before reaching the NHL in 1999. The two-time All-Star signed a long-term contract with the Predators in 2003.

However, a long-term contract doesn’t mean much when you’re not playing hockey. The good news for Timonen, who hails from Kuopio, Finland, is that if he wants to return home and play in front of his friends and family he can give himself a spot on the KalPa roster. The bad news is that the team he owns also has been mired in financial problems and in July of 1999 declared bankruptcy, unable to pay a tax of 1.6 million Finnish markaa (roughly $330,000).

So Timonen can probably understand the headaches that both the owners and players are feeling right now better than anyone else save Mario Lemieux, the former player-owner of the Pittsburgh Penguins. Timonen and his agent Bill Zito did not respond to e-mails and phone calls, however The Tennessean quoted Preds’ left wing Scott Hartnell as saying on Sept. 26 that if the CBA is still at an impasse around Christmas time, he and Timonen would return to Kuopio to play for KalPa.

The main source of contention in forging a new CBA has been a salary cap. Bettman and the owners want to reduce player salaries, set a fixed portion of revenue to go to the clubs to pay the bills, and impose a salary cap that will prevent players from jeopardizing the league’s future with exorbitant salaries. “Union leadership refused for more than a year to make any kind of proposal whatsoever,” Bettman said in his Sept. 15 announcement that the season would be postponed. “During the same period, [they] rejected six separate NHL proposals that would have modernized our league’s economic system, as other professional sports have done.”

The players adamantly refuse a salary cap and maintain that Bettman engineered the lockout so that he could force the NHLPA to accept one. Instead, players are prepared to play elsewhere, either with the upstart Continental Hockey League, Original Stars Hockey League or abroad.

“This is a disappointing day for NHL Players and fans,” says NHL Player’s Association Executive Director Bob Goodenow. “The players remain prepared to negotiate a fair agreement with the owners, but we need a negotiating partner who understands that agreements are the products of compromise. We do not have such a negotiating partner now.”

With both sides unable to see things from the other’s perspective, perhaps the league would be better off asking Timonen to mediate. After all, wearing two hats is better than none.

IN THE NEWS

Lebanon—Cracker Barrel entered a multi-year presenting sponsorship to use its corporate name and logo on the Grand Ole Opry show. Terms of the deal were not disclosed.

Manchester—An overview of the economic impact of the Bonnaroo Music Festival on Coffee County found that the festival paid $1.12 million in taxes to the State of Tennessee on ticket sales alone. The local portion of that tax returned to Coffee County should reach nearly $250,000.

J. Michael Nidiffer and Brent Roswall, partners with Bristol, Tenn.-based Interstate Development Co. (IDC) bid $1.56 million to beat out several regional bidders as well as bidders from North Carolina and California to secure the Whispering Pines shopping center, formerly the site of a Wal-Mart. The retail site contains 103,000 square feet of commercial space on 12 acres. IDC’s portfolio includes roughly two million square feet of retail property.

Nashville—Cheeseburger Charley’s announced expansion plans for 11 new restaurants in the next two years, including locations in Dickson, Cool Springs Smyrna and Spring Hill. Owner Chuck Watkins, son of the founder of Nashville-based O’Charley’s restaurants, started Cheeseburger Charley’s in the late 1980s. There are currently four restaurants in Nashville.

Several paintings by Aaron Douglass, a pioneer of early 20th Century African American art and longtime chairman of the art department at Fisk University, were recently discovered on its campus. Fisk president Hazel O’Leary announced the finding in a private speech delivered to a prominent group of Middle Tennessee business people and politicians. Fisk spokesperson Ron Roberts of Dye Van Mol confirmed the findings.

iPayment Inc. announced the acquisition of Transaction Solutions, an ISO with a portfolio of approximately 4,000 small merchants and annual charge volume of approximately $500 million. iPayment expects the transaction to be accretive to its 2005 financial results, providing earnings of approximately three cents per share. iPayment is a provider of credit and debit card-based payment processing services to over 100,000 small U.S. merchants.

Nashville-based LTA Holdings, a privately held senior housing company, has been acquired by Newton, Mass.-based Five Star Quality Care for $208 million. Owned primarily by Morgan Stanley Capital Partners, Clayton Associates and Richland Ventures, LTA does business as LifeTrust America, operating assisted living communities branded as Morning side. Five Star will assume roughly $141 million of debt and will pay the balance to LifeTrust’s owners in cash. Five Star will acquire 47 senior living communities with 2,636 units in southeastern states, including nine communities in Tennessee.





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