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VOL. 128 | NO. 246 | Wednesday, December 18, 2013

FedEx Income Rises But Misses Estimates

Memphis-based FedEx Corp. posted net income of $500 million, or $1.57 per share, in its fiscal second quarter, which ended Nov. 30.

Elkington’s Farewell

Beale Street developer steps down after 30 years

It’s been more than three years since city leaders declared the next chapter of the Beale Street entertainment district was about to begin.

Commission Votes Down School Board Pay Raise

The issue of how much to pay elected officials was settled Monday, Dec. 16, by the Shelby County Commission on one front.

Council Opens Unfunded Liability Plan Talks With Questions

Memphis City Council members again rejected Tuesday, Dec. 17, an increase in the city’s monthly solid waste fee and affirmed a 2.1 percent hike in the Memphis Light Gas and Water Division water rate hike.

Batch Memphis Launches Gift Service

The three Nashville friends who started Batch Nashville, which delivers a surprise batch of local goods each month to subscribers’ doorsteps, are bringing the service to Memphis.

Local Weather
Today
Memphis, TN
81°F
Partly Cloudy
Wind: 10 mph
Humidity: 41%

EVENTS

Kiwanis Club of Memphis will hold its annual holiday celebration, featuring the Swing Time Explosion: Big Band Holiday Show, Wednesday, Dec. 18, from noon to 1 p.m. at The University Club of Memphis, 1346 Central Ave. Cost is $18 for nonmembers.

more events »

Bunker Exits With Dig at Election Commission

Shelby County Commissioner Wyatt Bunker’s last meeting as a commissioner Monday, Dec. 16, saw Democrats supporting his resolution of “no confidence” in Shelby County Elections Administrator Richard Holden.

New Hilton Garden Inn Planned for Downtown

Memphis could be getting a new hotel at a prime Downtown location.

MEMPHIS NEWSMAKERS

Van Vliet Takes on Roles at UT Medical, The MED

Dr. Michael M. Van Vliet has joined the department of plastic surgery at UT Medical Group, has been named assistant professor at the University of Tennessee Health Science Center and has been appointed director of burn critical care for the Firefighters Regional Burn Center at The Regional Medical Center at Memphis.

LOCAL COLUMNISTS

Social Media Predictions for 2014

If you’ve found yourself on the sidelines, hesitant to commit to social media until now, it’s time to get in the game. Social media is here for the long haul, and every day that you delay, you’re losing market share and handing your competitors a coveted competitive advantage.

The Economy in 2013: Naughty and Nice

Thanks to the Federal Reserve’s dedication to increasing your net worth, 2013 will go down as one of the most prosperous years on file. Stock prices have increased more than 20 percent and U.S. home prices have increased nearly 15 percent. These gains hit national headlines, but the gains for back-page asset classes are equally impressive.

MEMPHIS AREA

Pediatricians to Pay $540,000 in Billing Settlement

MEMPHIS (AP) – A Memphis pediatric group has agreed to pay the state more than $540,000 to settle allegations that the group was overcharging on TennCare billings.

STATE GOVERNMENT

State Funding Board Makes Revenue Projections

NASHVILLE (AP) – The State Funding Board has made its revenue projections for the upcoming budget year.

Turner to Remain Democratic Caucus Chairman

NASHVILLE (AP) – State Rep. Mike Turner has decided to remain House Democratic Caucus chairman.

NATIONAL BUSINESS

AP Survey: US Income Gap is Holding Back Economy

WASHINGTON (AP) – The growing gap between the richest Americans and everyone else isn't bad just for individuals.

US Consumer Prices Flat as Gas Costs Keep Falling

WASHINGTON (AP) – U.S. consumer prices stayed flat in November, held down by falling gas prices. Inflation remains low across the broader economy, giving the Federal Reserve latitude to continue its extraordinary stimulus program.

NATIONAL GOVERNMENT

Fed Likely to Maintain Bond-Buying Pace for Now

WASHINGTON (AP) – Is this week when the Federal Reserve finally slows its aggressive stimulus for the economy? Or does it want to await more evidence of a consistently improving economy?

REAL ESTATE

US Homebuilder Confidence Surges in December

U.S. homebuilders' confidence bounced back strongly this month, a sign that construction and industry hiring may pick up in coming months.

TECHNOLOGY

Thompson: Microsoft to Pick CEO Early Next Year

REDMOND, Wash. (AP) – Microsoft expects to finish its search for CEO Steve Ballmer's replacement by early next year.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 79 146 10,368
MORTGAGES 95 202 13,529
FORECLOSURE NOTICES 19 43 2,687
BUILDING PERMITS 0 393 24,700
BANKRUPTCIES 62 122 10,014
BUSINESS LICENSES 21 37 3,773
UTILITY CONNECTIONS 99 248 14,805
MARRIAGE LICENSES 27 58 3,225

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