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VOL. 128 | NO. 162 | Tuesday, August 20, 2013

Medtronic Spine Revenue Declines 2.7 Percent

Medtronic Inc. said its profit gained in the fiscal first quarter, buoyed by strong international growth and geographic expansion as well as robust demand for cardiac and vascular devices.

Healing Music

Musicians for Le Bonheur prepares to release CD

A sign hangs in the lobby at Le Bonheur Children’s Hospital acknowledging the charitable efforts of an arguably unlikely group of hospital supporters.

GTx Treatment Fails to Meet Goals

Shares of GTx Inc. plunged on Monday after the drugmaker said an experimental treatment with the potential to prevent and treat muscle wasting in cancer patients failed to meet its goals in two late-stage clinical trials.

Armstrong Orders New School Board Election

For a second time, results in the August 2012 elections have been successfully contested in court.

Commission Drops Fire/Ambulance Utility District For Now

The idea of a utility district for fire and ambulance services in unincorporated Shelby County and several of the smaller suburban towns and cities was voted down Monday, Aug. 19, by the Shelby County Commission.

Local Weather
Today
Memphis, TN
84°F
Fair
Wind: 9 mph
Humidity: 67%

EVENTS

Playhouse on the Square will present a Great Wine Performances wine tasting and theater contest Tuesday, Aug. 20, from 6 p.m. to 8 p.m. at Playhouse, 66 S. Cooper St. Characters from “Les Miserables” will serve 10 French wines and tests attendees’ knowledge of the musical for prizes. Cost is $65 at the door. Visit playhouseonthesquare.org.

more events »

City Council to Consider Smart Meters

The Memphis City Council’s long-running debate over the use of Smart Meters by Memphis Light, Gas and Water Division with time-of-use rates is expected to reach a critical phase at the council’s Tuesday, Aug. 20, session.

Local Startup Screwpulp Gaining Attention

Memphis-based startup Screwpulp, which participated in the latest cohort of the Seed Hatchery accelerator, has been busy in recent weeks.

Ford Road Elementary School Charts Progress

The school year before Ford Road Elementary School became part of the seven-school Innovation Zone within Memphis City Schools, no more than 17 percent of its students were proficient or advanced in reading, math or science.

Plan Changes City’s Garbage Collection

City Public Works officials and the municipal union representing sanitation workers have reached an agreement on a plan to increase the workload for sanitation workers, move toward broader and easier recycling measures, and use some of the savings from the plan to fund a retirement supplement for older workers.

GOVERNMENT AGENDA

Aug. 20 Memphis City Council Agenda

The Memphis City Council will meet Tuesday, Aug. 20, at 3:30 p.m. in the Council chambers in City Hall, 125 N. Main St. Click on the meeting icon for an agenda.

REAL ESTATE RECAP

Oklahoma Hotel Group Buys Baymont Inn

6020 Shelby Oaks Drive, Memphis, TN 38134, Sale Amount: $2.1 million -
An affiliate of Oklahoma City-based Champion Hotels has paid $2.1 million for the 103-room Baymont Inn & Suites Memphis East hotel at 6020 Shelby Oaks Drive in Northeast Memphis.

LOCAL COLUMNISTS

Nonprofit Values and Efficiency

Board members with experience and connections in the private sector can help nonprofit organizations grow and think in new ways. And nonprofit service can help board members from the private sector to grow and think in new ways, too. Efficiency and cost reductions often contribute to business success. Time and energy is devoted to developing and implementing strategies that increase the efficiency, value and profit while decreasing costs. Technology, collaboration and innovation have factored greatly in this process.

MEMPHIS AREA

First Case of West Nile Virus in Shelby County

MEMPHIS (AP) – Health officials have confirmed the first human case of West Nile virus in Shelby County this year.

STATE GOVERNMENT

Haslam OK Delaying Teacher Licensure Rules Implementation

NASHVILLE (AP) – Gov. Bill Haslam says he supports a decision by the Tennessee Board of Education to delay the implementation of new rules on teacher licensure until 2015.

REGIONAL

Mississippi Jobless Rate Falls as Labor Force Dips

JACKSON, Miss. (AP) – Mississippi's unemployment rate fell by a half percentage point to 8.5 percent in July, hitting lowest level in more than four years, but only because the state's labor force shrank.

Arkansas Unemployment Rate Up to 7.4 Percent

LITTLE ROCK, Ark. (AP) – Arkansas' unemployment rate for July was up one-tenth of a percentage point to 7.4 percent.

NATIONAL GOVERNMENT

Fed Says Big Banks Must Improve Financial Cushions

WASHINGTON (AP) – The Federal Reserve says the nation's largest banks need to do a better job of determining how much capital they need to cushion against a future crisis.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 43 43 12,074
MORTGAGES 78 78 15,834
FORECLOSURE NOTICES 0 0 3,130
BUILDING PERMITS 0 0 28,832
BANKRUPTCIES 97 97 11,768
BUSINESS LICENSES 18 18 4,292
UTILITY CONNECTIONS 190 190 17,922
MARRIAGE LICENSES 43 43 3,711

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