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VOL. 128 | NO. 14 | Monday, January 21, 2013

First Horizon Posts $41 Million Profit

Memphis-based First Horizon National Corp. booked a profit of $41 million in the fourth quarter and generated earnings in line with Wall Street expectations of 17 cents a share.

‘So Many Positives’

Area where King assassinated continues impressive transformation

Tuesday, Jan. 15, would have been the Rev. Martin Luther King Jr.’s 84th birthday.

Shelby County Business Licenses See Slight Decline

The Shelby County Clerk’s Office issued 5,520 business licenses in 2012, a 4 percent drop from 2011, when 5,751 licenses were filed in the county, according to The Daily News Online, www.memphisdailynews.com.

Business Licenses Dip in Fourth Quarter

The Shelby County Clerk’s Office issued 1,160 business licenses in the fourth quarter of 2012, according to The Daily News Online, www.memphisdailynews.com.

Council to Discuss Pyramid Development

Memphis City Council members vote Tuesday, Jan. 22, on the “Memphis Pyramid Planned Development” – the formal name for the conversion of The Pyramid to a Bass Pro Shops store with other attractions including a hotel.

Mixed Bag for 2012 Court Filings

The business of Circuit Court saw a jump in 2012 while filings in Chancery Court dropped compared to the previous year and the number of filings in Probate Court remained the same.

Circuit Court Filings Up in Fourth Quarter

Filings in Circuit Court were up for the last quarter of 2012 but down in Chancery and Probate Courts compared to the fourth quarter of 2011.

Haslam Addresses School Vouchers Issues

Tennessee Gov. Bill Haslam says the third year of significant education reform legislation in the Tennessee General Assembly will include vouchers but added that “ultimately our efforts in Tennessee are going to be around the vast majority of kids that are in public schools.”

GOVERNMENT AGENDA

Memphis City Council Agenda

The Memphis City Council will meet Tuesday, Jan. 22, at 3:30 p.m. in the Council chambers in City Hall, 125 N. Main St. Click on the meeting icon for a full agenda.

SMALL BUSINESS SPOTLIGHT

Embry-Riddle Growing to Meet Local Demand

The Memphis campus of Embry-Riddle Aeronautical University is preparing to expand its number of degree programs in the first part of this year, with classes tailored specifically for working adults.

REAL ESTATE RECAP

City, Bass Pro File Permits for Pyramid Renovations

1 A.W. Willis Memphis, TN 38105

LOCAL COLUMNISTS

Resolving Resolution Relapse

For most of you, it’s about that time of the year again. It’s about the time that you have completely abandoned all those New Year’s resolutions you felt so strongly about a few weeks ago. If this is the case, two of the main reasons the resolutions didn’t work out for you are: 1) You forget to define some sort of specific behavior that supports the resolution and/or, 2) You didn’t hang in there and repeat the specific behavior related to the new belief long enough.

Analyzing the Season

Holiday Retail Sales: Ho Ho Hum or Ho-Ho-Ho? National retail results are in and, according to the International Council of Shopping Centers (ICSC), when all was bought and wrapped, year-over-year sales increased by 4.5 percent in December and 3.1 percent for the overall holiday season. While that’s pretty much on target with projections, it was the pace of sales that made this year a bit different.

NATIONAL BUSINESS

Jobless Rates Fall in Less Than Half of US States

WASHINGTON (AP) – Unemployment rates fell in less than half of U.S. states last month, as steady but slow hiring is making only gradual improvement in the job market.

NATIONAL GOVERNMENT

Transcripts Show Fed Underestimated Crisis in 2007

WASHINGTON (AP) – Federal Reserve officials in 2007 underestimated the scope of the approaching financial crisis and how it would tip the U.S. economy into the worst recession since the Great Depression, transcripts of the Fed's policy meetings that year show.

REAL ESTATE

HSBC to Pay $249 Million to Settle Foreclosure-Abuse Case

WASHINGTON (AP) – British bank HSBC will pay $249 million to settle federal complaints that its U.S. division wrongfully foreclosed on homeowners who should have been allowed to stay in their homes.

HEALTH CARE

Flu Season 'Bad One for the Elderly,' CDC Says

The number of older people hospitalized with the flu has risen sharply, prompting federal officials to take unusual steps to make more flu medicines available and to urge wider use of them as soon as symptoms appear.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 114 332 10,554
MORTGAGES 119 412 13,739
FORECLOSURE NOTICES 0 68 2,712
BUILDING PERMITS 522 915 25,222
BANKRUPTCIES 80 264 10,156
BUSINESS LICENSES 16 78 3,814
UTILITY CONNECTIONS 92 430 14,987
MARRIAGE LICENSES 15 83 3,250

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