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VOL. 128 | NO. 209 | Friday, October 25, 2013

Moore Steps Down from Chamber

Greater Memphis Chamber president John Moore announced today he’s stepping down effective Jan. 3., ending an eight-year run in the position.

Rapid Return

MATA again tries express route with Whitehaven Flyer

Downtown to Whitehaven on a city bus in a half hour is quite an achievement in a city with limited experience with modern bus express service.

International Paper Earnings Surge 38 Percent

Memphis-based International Paper Co. reported third quarter net earnings of $382 million, an increase of $145 million, or 38 percent, from the third quarter 2012 net earnings of $259 million.

East Memphis Retail Center Sees Positive Lease Activity

The Shops at Chickasaw Gardens, on Polar Avenue near the Benjamin L. Hooks Central Library, has seen good leasing activity recently.

Memphis Economic Indicator Shows Business Optimism

The results of the second Memphis Economic Indicator, a new survey measuring general business sentiment jointly produced by The Daily News and Dixon Hughes Goodman LLP, reflect a modest overall improvement in optimism among business leaders compared to last quarter’s survey results.

HUD Adviser Talks Housing for Homeless

Jennifer Ho said she views her job as a senior adviser to U.S. Housing and Urban Development Secretary Shaun Donovan as looking at the problem of homelessness like a jigsaw puzzle.

Local Banks Raise Capital to Fund Growth

When banks pass the hat, rounding up new capital from investors to finance future growth, it tends to be a sign those banks believe the economy is getting better.

Experts to Provide CRE Outlook at Seminar

Class A office space in East Memphis reigns supreme, which should continue to drive up rental rates, while industrial developers are ramping up activity outside the city of Memphis.

Race for the Cure Ready at New Home

Participants in Saturday’s Komen Memphis-MidSouth Race for the Cure will see some significant changes this year.

Midtown Kroger Construction to Start

With a few amendments by the Memphis-Shelby County Board of Adjustment Wednesday, Oct. 23, the new Midtown Kroger supermarket rolled out of the planning and zoning process and into preparation for demolition of the old Belvedere apartments building and construction of the new store.

MEMPHIS STANDOUT

Diverse Background Helps Garrard Find Career Calling

Mike Garrard has popped the top on a new career as executive director of the Silvercreek Senior Living Center in Olive Branch.

SPORTS

Alabama, Parity Dominating SEC Football This Season

The Southeastern Conference’s dominance is well known – seven consecutive national championships, the last two by Alabama. That dominance also has had depth. Last season, the SEC had six of the top 10 teams in the final Bowl Championship Series (BCS) standings.

Cardinal Way Has St. Louis Back in Fall Classic

From 2002-2006, the St. Louis Cardinals had a farm director named Bruce Manno. He was a guy who had his own ideas on how things should be done. One of them was to require that all Cardinal minor-league players – from Rookie ball to Triple-A Memphis – wear their pants pulled up to their knees so their stirrup socks would show.

College Football Notebook: Oct. 25, 2013

The Mad Hatter is not happy. LSU coach Les Miles spent his offseason complaining at the crossover schedule his team got – tough – and the crossover schedule Alabama got – not so tough.

Grizz Desperately Seeking Strong Finish to Preseason

Seven practice tests down, one to go. So far, the results have been mixed as the Grizzlies under first-year coach Dave Joerger at times have looked more dynamic, but also more erratic on offense and less devoted to playing defense.

LOCAL COLUMNISTS

A Few Words Before Takeoff

PRE-FLIGHT MESSAGES

MEMPHIS AREA

Three Patient Deaths Probed at Memphis VA Hospital

MEMPHIS (AP) — The Veterans Health Administration says inspectors have investigated the deaths of three patients who died in the emergency department at the Memphis VA Medical Center.

STATEWIDE

Haslam Named Chairman of National Governors' Committee

NASHVILLE, Tenn. (AP) — Tennessee Gov. Bill Haslam has been named chairman of the National Governors Association's Health and Human Services Committee.

NATIONAL BUSINESS

UPS Expected to Show Gain in Profit

United Parcel Service Inc. is expected to report higher profit and revenue on Friday when it issues third-quarter results before the market opens, but investors will be looking for clues as to how it's adapting to customer preferences for cheaper shipping options.

US Unemployment Aid Applications Drop to 350,000

WASHINGTON (AP) — The number of people seeking U.S. unemployment benefits dropped 12,000 to a seasonally adjusted 350,000 last week, though the total was elevated for the third straight week by technical problems in California.

US Job Openings Rise in August, But Hiring Flat

WASHINGTON (AP) — U.S. employers advertised more jobs in August but hiring was essentially flat, further evidence of a job market that has weakened after a promising start to the year.

Fed Proposes Big Banks Hold More Cash, Assets

WASHINGTON (AP) — The Federal Reserve on Thursday proposed that big banks keep enough cash, government bonds and other high-quality assets on hand to survive during a severe downturn on par with the 2008 financial crisis.

REAL ESTATE

Average US Rate on 30-Year Mortgage at 4.13 Percent

WASHINGTON (AP) — Average U.S. rates on fixed mortgages dropped this week to their lowest levels in four months, a positive sign for the housing recovery.

HEALTH CARE

Healthcare.gov Failures Surface at Hill Hearing

WASHINGTON (AP) — The leading contractors on the Obama administration's troubled health insurance website told Congress Thursday that the government failed to thoroughly test the complicated system before it went live.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 72 368 16,413
MORTGAGES 66 422 21,432
FORECLOSURE NOTICES 15 76 4,266
BUILDING PERMITS 176 877 39,378
BANKRUPTCIES 60 294 15,542
BUSINESS LICENSES 20 98 5,491
UTILITY CONNECTIONS 69 423 23,573
MARRIAGE LICENSES 17 95 5,035

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