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VOL. 128 | NO. 154 | Thursday, August 8, 2013

Mays: School Board Stays At Seven For A Year

The countywide school board will slim down to seven members effective Sept. 1 with no expansion of the board to 13 members until the August 2014 county general elections are decided and the winners take office Sept. 1, 2014.

Grass-Roots Growth

Cooper-Young continues to flourish organically

From where Tamara Cook sits, the future of the Cooper-Young Historic District looks as bright as it’s ever been.

Triumph Bank Acquires Merchants & Planters' Mortgage Division

Memphis-based Triumph Bank has reached a deal to acquire the mortgage division of Merchants & Planters Bank.

FedEx Manager Wins Initial Victory in Equal Pay Suit

A Memphis-area FedEx project manager won an initial victory on Tuesday, Aug. 6, in her lawsuit against FedEx Corp. that accuses the shipping giant of failing to provide equal pay after she took over the job responsibilities of a male colleague.

EDGE Approves Incentives for Wright Medical

Arlington-based Wright Medical Group Inc. is one step closer to relocating its headquarters to Memphis.

Local Weather
Today
Memphis, TN
44°F
Mostly Cloudy
Wind: 10 mph
Humidity: 55%

EVENTS

The Memphis chapter of the American Payroll Association will meet Thursday, Aug. 8, at 11:30 a.m. at the Holiday Inn University of Memphis, 3700 Central Ave. Glenn Hopper of ADP will discuss tax compliance. Cost is $20 for members and $30 for nonmembers. Visit memphisapa.org.

more events »

Bus System Funding Woes Continue

The same week that the Memphis Area Transit Authority got $469,040 in city funding restored by the Memphis City Council, it lost $430,000 in funding from the state of Tennessee.

Design Review Board Approves Downtown Guidelines

The Downtown Memphis Commission Design Review Board approved Wednesday, Aug. 7, new design guidelines for Downtown.

Industrial Developments International Sold to Canadian Company

Canada-based Brookfield Property Partners LP is acquiring Industrial Developments International Inc. from the U.S. subsidiary of Kajima Corp. for $1.1 billion.

Sales Tax Hike Goes to City Voters

For months, political forces have been gathering to make the case for a half percent hike in the city sales tax rate that would fund a city administered pre-kindergarten program.

Memphis Demolition Moratorium Delayed

A plan by some on the Memphis City Council to declare a four-month moratorium on all demolitions of Memphis properties on the National Register of Historic Places was put off this week after questions about the legality of the moratorium.

RISE Foundation Goal Card Program Changing Lives

Editor’s Note: Part of a series about the “Our Children. Our Success.” campaign. The RISE Foundation is a nonprofit that’s trying to change young lives incrementally, with a mix of incentives and mentorship, in a program that’s focused for the moment on the 38126 ZIP code but which may grow beyond that soon.

MEMPHIS LAW TALK

Salomon Helps Clients Navigate Estate Planning

For Jason Salomon, an attorney with the trusts estate and personal planning service team of Wyatt, Tarrant & Combs LLP, the kinetic needs of his clients and the challenges turned into opportunities keep him involved and excited on a daily basis.

LOCAL COLUMNISTS

Value Your Time

Ray’s Take Time is one resource that can’t be reclaimed. While you can regain lost investments and recycle natural resources, once time has passed it is gone forever. In our youth, we trade it for money. As we get older we realize we can’t trade our money back for time. Unfortunately, people are inclined to regularly undervalue one of the scarcest assets around – time.

Cuckoo History of ‘Cuckoo’s Calling’

As I understand it, “The Cuckoo’s Calling,” a first-fiction item by one Robert Galbraith (not the retired doctor from Little Rock) was released last April. With generally positive reviews springing forth, 3,000 or so copies had been sold in England and the U.S. by early July. And then …

MEMPHIS AREA

Collierville Mental Health Contractor Sentenced

MEMPHIS (AP) – A federal judge in Memphis has sentenced a state contract mental health counselor to three years in prison for fraud.

STATE GOVERNMENT

Haslam Announces Health and Wellness Initiative

MEMPHIS (AP) – Gov. Bill Haslam has announced a new statewide health and wellness initiative.

NATIONAL BUSINESS

US Consumer Borrowing Rose $13.8 Billion in June

WASHINGTON (AP) – Americans borrowed more in June to buy cars and attend schools. But they were frugal again with their credit cards, indicating many remain wary of taking on high-interest debt.

NATIONAL GOVERNMENT

Obama Says He'd Save Money by Refinancing Mortgage

LOS ANGELES (AP) – President Barack Obama said Wednesday he'd save money if he refinanced the mortgage on his Chicago home, but he hasn't jumped on current low interest rates because "when you're president you have to be a little careful about these transactions."

REAL ESTATE

Freddie Mac Earns $5 Billion in Second Quarter

WASHINGTON (AP) – Freddie Mac earned $5 billion from April through June, the seventh straight profitable quarter for the mortgage giant.

Closing Fannie, Freddie Could Boost Mortgage Rates

WASHINGTON (AP) – Homebuyers could feel the pinch if Congress follows through on plans to shut down Fannie Mae and Freddie Mac, the government-controlled mortgage guarantee giants that were rescued by a $187 billion taxpayer bailout during the financial crisis.

TECHNOLOGY

IDC: Android Extends Lead Over iPhone in Second Quarter

NEW YORK (AP) – Research firm IDC says Apple's iPhone continued to lose market share to Android phones in the second quarter.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 63 269 16,682
MORTGAGES 85 313 21,745
FORECLOSURE NOTICES 0 56 4,322
BUILDING PERMITS 0 209 39,587
BANKRUPTCIES 65 287 15,829
BUSINESS LICENSES 16 67 5,558
UTILITY CONNECTIONS 126 413 23,986
MARRIAGE LICENSES 22 94 5,129

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