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VOL. 128 | NO. 29 | Tuesday, February 12, 2013

School Board Meets as Budget Debate Grows

Countywide school board members meet Tuesday, Feb. 12, in special session to send a still-forming budget for the first fiscal year of the consolidated school system to the Shelby County Commission.

Cost Increase

Pricing jumps while homebuilder permit numbers stagnate

New housing permits were unchanged in January year over year, but pricing saw a healthy increase.

Soul Fish to Open in Old Wolf Camera at Poplar and Perkins

Soul Fish Café has selected a prime piece of real estate in East Memphis for its third location.

Memphis Investment Firm at Odds With Dell

Following Memphis-based Southeastern Asset Management’s public opposition to Dell Inc.’s proposed $24.4 billion buyout, the Texas-based tech company is trying to reassure shareholders that the deal will be beneficial.

Echols Talks Technology at Memphis Conference

The first time Damien Echols saw a computer, it was 1986 – eight years before he and two others were convicted of murder and found themselves branded as the West Memphis Three.

Local Weather
Today
Memphis, TN
47°F
Partly Cloudy
Wind: 0 mph
Humidity: 83%

EVENTS

National Association of Women Business Owners Memphis will meet Tuesday, Feb. 12, from 11:30 a.m. to 12:45 p.m. at Chickasaw Country Club, 3935 Galloway Ave. City, county and state government representatives will discuss opportunities to gain government business. Cost is $25 for members, $30 for nonmembers and $35 at the door. Visit bit.ly/122SiTT to register.

more events »

County Commission Debates Schools Changes on Several Fronts

Shelby County Commissioners who just last week seemed to agree on giving Memphis City Schools teachers living outside Shelby County five years to move within the county had some second thoughts Monday, Feb. 11, as they debated the schools merger issue.

Suburban Districts Back in Federal Court

The faded red kick ball that is the issue of metropolitan school districts in the Shelby County suburbs is now back in Memphis federal court after about two-and-a-half months of private mediation talks.

Prosecutors Weigh Cooperation Against Murder

For a second time, prosecutors in the largest drug case ever brought into Memphis federal court have decided not to recommend a reduction in the sentence of a high-ranking member of the Craig Petties drug organization who cooperated to some extent.

REAL ESTATE RECAP

Memphis Marriott Sells for $12.4 Million in Foreclosure

2625 Thousand Oaks BlvdMemphis, TN 38118

LOCAL COLUMNISTS

Million Calorie Reduction Match

This week let us discuss a nonprofit organization, Healthy Memphis Common Table, whose mission is to mobilize Greater Memphis to achieve excellent health for all, along with one of their programs aimed at addressing obesity, the Million Calorie Reduction Match.

Strong January Portends Positive Year

As Goes January … Many market observers state that as goes January, so goes the rest of the year. Mathematically, 1/12th of the year has now passed and the S&P 500 has tacked on 5 percent. Fast-forwarding through the statistical modeling, a strong January predicts a strong annual return precisely because of the positive lead January passes to February. This head start advances the probability of positive returns. Furthermore, a sizable head start increases the odds of success even more. If January is slightly positive, the odds of a positive year are 67 percent. If January is up 5 percent, the odds jump to 79 percent. So a 5 percent positive January has a high probability of correlating with a year of positive equity returns. We cannot rest in that, however, as a 4 percent loss from this point still fulfills the criteria. Better check the vitals.

STATE GOVERNMENT

Interim Children’s Services Chief Focuses on Safety, Fatalities

NASHVILLE (AP) – The interim head of Tennessee's Department of Children's Services has appointed three top aides to examine child safety issues.

NATIONAL BUSINESS

Report: AMR, US Airways Boards to Meet This Week

DALLAS (AP) – Directors of American Airlines and US Airways reportedly plan to meet Wednesday to consider a merger.

Boeing Wraps Up 787 Test Flights for Now

Boeing conducted a second test flight of its 787 on Monday as it looks for the cause of battery problems that have grounded the planes. It said no more tests are currently planned.

NATIONAL GOVERNMENT

Small Business Administration Head Mills to Depart

NEW YORK (AP) Karen Mills, the head of the Small Business Administration as it focused on helping small companies recover from the Great Recession, is stepping down.

Study: 1 in 5 Consumers had Error in Credit Report

WASHINGTON (AP) – One in five consumers had an error in a credit report issued by a major agency, according to a government study released Monday.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 69 311 15,028
MORTGAGES 83 338 19,668
FORECLOSURE NOTICES 0 43 3,838
BUILDING PERMITS 0 512 35,842
BANKRUPTCIES 61 243 14,277
BUSINESS LICENSES 16 120 5,111
UTILITY CONNECTIONS 70 316 21,749
MARRIAGE LICENSES 0 75 4,632

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