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VOL. 128 | NO. 148 | Wednesday, July 31, 2013

Memphis Economic Indicator Surveys Landscape

The inaugural Memphis Economic Indicator, a new online survey launched by Dixon Hughes Goodman LLP and The Daily News to measure general business sentiment, shows little consensus about the local economy.

Waiting for Takeoff

Airport officials eager to lure new air carriers to town

A never-before-used economic incentive program designed to lure new air service to Memphis International Airport may have its first customer.

School Board Bans Corporal Punishment, Pushes State Legislation on City Funding

Less than a week from the start of the first year of the consolidated school district, countywide school board members Tuesday, July 30, approved a series of policy decisions that reconcile differences between the old Memphis City Schools and Shelby County Schools systems.

Design Review Board Approves Bass Pro Shops Pyramid Signage

Bass Pro Shops won overwhelming approval Tuesday, July 30, for its latest signage plans for The Pyramid, clearing a potential obstacle to the public-private initiative to turn the shuttered arena into a destination attraction.

DeBerry’s Political Path Sign of Times

Flags over the state capitol in Nashville and all state office buildings remained at half staff Tuesday, July 30, in honor and memory of state Rep. Lois DeBerry of Memphis.

Local Weather
Today
Memphis, TN
64°F
Partly Cloudy
Wind: 0 mph
Humidity: 48%

EVENTS

Kiwanis Club of Memphis will meet Wednesday, July 31, from noon to 1 p.m. at The University Club of Memphis, 1346 Central Ave. Frank Gianotti of Tetra Tech will discuss extending the Shelby Farms Greenline. Cost is $18 for nonmembers.

more events »

Schools Achievement Numbers Show Growth, Gaps

Now that Shelby County’s two public school systems are one, the achievement tests results for the two districts in their last school year apart will be consolidated into a single baseline.

Grants to Boost Local ‘Precision Agriculture’

The local precision agriculture industry is poised to get a boost from Uncle Sam.

MEMPHIS NEWSMAKERS

Henneberger Joins First State Bank Small-Business Lending Division

Sean Henneberger has joined First State Bank’s small-business lending division as vice president/business development officer in the Memphis market. In his new role, Henneberger will help small businesses pursue loans through the U.S. Small Business Administration and U.S. Department of Agriculture Business and Industry Guaranteed Loan Program.

LOCAL COLUMNISTS

Southwest Shows Right Model for Surviving Crises

With all the attention paid to big brands making big blunders in the face of crisis, it’s refreshing to celebrate a brand getting it right.

Buy a Server or Move to the Cloud?

After a few rough years with the economy, and after squeezing every last drop of functionality out of their existing infrastructure, some companies are faced with the question of replacing that infrastructure with new equipment or moving their information to the cloud.

STATEWIDE

Community Health Systems Plans $3.9 Billion Acquisition

Franklin, Tenn.-based Community Health Systems Inc. plans to spend $3.9 billion to acquire Health Management Associates Inc. in a deal that would create a giant U.S. hospital chain just as the health care overhaul starts funneling millions of newly insured people into the health care system.

Eastman Chemical Second-Quarter Net Income Jumps 47 Percent

KINGSPORT, Tenn. (AP) Eastman Chemical Co. said Tuesday its second-quarter net income jumped 47 percent, boosted by sales contributions from a recent acquisition.

NATIONAL BUSINESS

Better Economic Growth Likely to Follow Weak Second Quarter

WASHINGTON (AP) – The economy is expected to have grown at a dismal pace in the April-June quarter, weighed down by large tax increases and steep government spending cuts.

A Small-Business Star to be Born This Super Bowl

NEW YORK (AP) – A small-business star will be born during a commercial break in Super Bowl XLVIII.

NATIONAL GOVERNMENT

Investors Look to Fed for Further Clues on Rates

WASHINGTON (AP) – When the Federal Reserve offers its latest word on interest rates this week, few think it will telegraph the one thing investors have been most eager to know: When it will slow its bond purchases, which have kept long-term borrowing rates low.

Obama Challenges GOP to Accept Corporate Tax Deal

CHATTANOOGA, Tenn. (AP) – Seeking to ease Washington gridlock, President Barack Obama on Tuesday challenged Republicans to accept a new fiscal deal to cut corporate tax rates in exchange for more government spending on jobs programs.

Senate Ready to Confirm New NLRB Members

WASHINGTON (AP) – The Senate on Tuesday moved a step closer to approving Democratic nominees to the National Labor Relations Board.

HEALTH CARE

Delay of Employer Penalties Will Cost Government $10 Billion

WASHINGTON (AP) – The Obama administration's surprise decision to delay a key requirement of the health care law for employers will cost the government $10 billion, the nonpartisan Congressional Budget Office said Tuesday.

Pfizer to Pay $491 Million to Resolve Drug Marketing Case

The U.S. Justice Department said Tuesday that drugmaker Pfizer Inc. will pay almost $491 million to resolve an investigation into illegal marketing of the organ transplant drug Rapamune by a company Pfizer later acquired.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 57 307 5,073
MORTGAGES 101 483 6,709
FORECLOSURE NOTICES 22 77 1,556
BUILDING PERMITS 0 720 11,979
BANKRUPTCIES 84 341 5,300
BUSINESS LICENSES 36 125 2,061
UTILITY CONNECTIONS 152 594 7,058
MARRIAGE LICENSES 36 117 1,458

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