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Editorial Results (free)

1. US Consumer Confidence Jumps to 90.9 in July -

WASHINGTON (AP) — U.S. consumers are more confident about the economy than they have been in nearly seven years.

The Conference Board said Tuesday that its confidence index rose to 90.9 in July from an upwardly revised 86.4 in June. The July reading is the highest since October 2007, two months before the Great Recession officially began.

2. Polo Shops Retail Center Sells for $2.6 Million -

The Polo Shops retail center at 7444 Winchester Road and 7464 Winchester Road in Southeast Memphis has sold for $2.6 million.

3. Dollar Tree Steps Up Fight, Buys Family Dollar -

NEW YORK (AP) — The fight for penny pinchers is intensifying.

Dollar Tree said Monday it is buying rival discounter Family Dollar for $8.5 billion, significantly broadening its reach as it looks to fend off Wal-Mart, which has been stepping up its courtship of lower-income customers.

4. Centennial Crossing Parcels Sell for $3.4 Million -

Two parcels in the Centennial Crossing shopping center in Southeast Shelby County have sold for $3.4 million following foreclosure.

An entity called 7915 Winchester Road Holdings LLC, which is an affiliate of CWCapital Asset Management LLC, bought 7915 Winchester Road and an outparcel of the center in a July 25 substitute trustee’s deed from R. Spencer Clift III of Baker, Donelson, Bearman, Caldwell & Berkowitz PC.

5. Orders for US Durable Goods Up 0.7 Percent in June -

WASHINGTON (AP) – Orders for long-lasting manufactured goods rebounded in June after a May decline, helped by a recovery in demand in a key category that signals business investment plans.

6. New Life for Old Malls -

Since 1957, when the first modern, fully enclosed shopping mall was built in Edina, Minnesota, shopping became an American pastime. New shopping malls changed the landscape in communities across the country at the rate of 140 a year.

7. Start Co. Steers Accelerators Toward Demo Day -

Memphis’ startup community is in the throes of its busiest summer in memory.

The Start Co. organization is running four startup accelerator programs at the moment simultaneously, compared to past undertakings that involved one accelerator at a time. The four programs underway now include Seed Hatchery, Upstart, SparkGap and Sky High, and they include the participation of more than two dozen teams, some of which hail from Memphis and others from around the country.

8. Contractors See Bright Days Ahead -

After slogging their way through the deepest economic slump in more than 60 years, Memphis area contractors say the near future looks much brighter than the dark days of the recession and its immediate aftermath.

9. Lot Shortage Poses Next Roadblock -

Local homebuilders say a dearth of developed lots is slowing down the new housing rebound, weighing down an industry still trying to drag itself out of the rubble left by the worst recession in decades.

10. Wal-Mart Names New CEO of US Discount Division -

NEW YORK (AP) – Wal-Mart is replacing the chief of its U.S. discount stores in what could be an indication that it's losing confidence that its largest business unit will rebound after more than a year of disappointing results.

11. Women Business Owners Face Gender Gap, Report Says -

NEW YORK (AP) – Women who own small business are still far behind their male counterparts when it comes to getting loans and government contracts, a congressional report said Wednesday.

12. Chamber Launches PILOT Education Campaign -

Memphis economic development officials wasted little time launching an information campaign about Memphis and Shelby County’s primary business incentive program.

On July 16, less than a month after the Memphis City Council adopted a budget that included deep cuts to employee and retiree benefits, the Greater Memphis Chamber posted a video exploring how the payment-in-lieu-of-taxes incentive program works and why it is needed.

13. Allergan to Cut 1,500 Employees in Restructuring -

Botox maker Allergan will cut about 13 percent of its workforce as part of a push to become more efficient while it fights a hostile takeover bid from Valeant Pharmaceuticals.

The Irvine, California, company said Monday it plans to trim about 1,500 employees and around 250 vacant positions as it restructures to focus on its "highest value opportunities."

14. Knowledge Tree Buys Cordova Retail Center -

8195 Dexter Road
Memphis, TN 38016
Sale Amount: $1.3 million

Sale Date: July 8, 2014
Buyer: K Tree LLC
Seller: 8195 Dexter Road LLC
Loan Amount: $1.5 million
Loan Date: July 11, 2014
Maturity Date: N/A
Lender: First Tennessee Bank NA
Details: An affiliate of the Knowledge Tree learning center has paid $1.5 million for the 28,575-square-foot shopping center at 8195 Dexter Road in Cordova.

15. Gauge of US Economy Rises 0.3 Percent in June -

A gauge designed to predict the economy’s future health increased in June for a fifth consecutive month, supporting the view that economic growth should accelerate in the second half of this year.

16. Time to Invest in Emerging Markets? -

Emerging markets are a group of countries that are in the process of developing both their infrastructure and economic system.

Emerging countries include the big names that have dominated the space for years like Brazil, Russia, India and China (known as the BRIC), but also smaller developing countries in Emerging Asia, South America and Eastern Europe.

17. First Horizon Reports Positive Quarter -

For the second quarter of its 150th anniversary year, the Memphis-based parent company of First Tennessee Bank reported growth in profit as well as increases in loans, while continuing to reduce the drag of the mortgage business the company sold in 2008.

18. US Unemployment Aid Applications Drop -

The number of people seeking U.S. unemployment benefits fell last week, a steady decline that suggests a strengthening job market.

Weekly applications for unemployment aid dipped 3,000 to a seasonally adjusted 302,000, the Labor Department said Thursday.

19. RedRover Tweaks Name, Refreshes Logo -

RedRover Sales & Market Strategy, an 8-year-old sales training and coaching, marketing and PR agency, has decided to update its brand and tweak its name.

The new logo – which includes a blend of boldfaced and regular lettering, combined with the company name in capital letters to embody strength and purpose – is part of the agency’s #RoverRefresh campaign, launched during what’s proven to be a big year of growth and expansion of service for the agency.

20. Largest US Insurer's Move Signals Industry Shift -

The nation's largest health insurer expects to play a much bigger role in the health care overhaul next year, as the federal law shifts from raising giant questions for the sector to offering growth opportunities.

21. Microsoft Cutting 18,000 Jobs, Signals New Path -

LOS ANGELES (AP) – Microsoft announced the biggest layoffs in its history Thursday, saying it will cut 18,000 jobs as it streamlines its Nokia mobile device business to focus on using the Windows Phone operating system.

22. US Unemployment Aid Applications Drop to 302,000 -

The number of people seeking U.S. unemployment benefits fell last week, a steady decline that suggests a strengthening job market.

Weekly applications for unemployment aid dipped 3,000 to a seasonally adjusted 302,000, the Labor Department said Thursday.

23. Ehrhart Touts Liberty Bowl to SEC Schools -

HOOVER, Ala. – Steve Ehrhart has work to do.

The 56th AutoZone Liberty Bowl isn’t until Dec. 29, but the bowl’s executive director knows the time is now to make his case to SEC athletic directors.

24. RedRover Tweaks Name, Refreshes Logo -

RedRover Sales & Market Strategy, an 8-year-old sales training and coaching, marketing and PR agency, has decided to update its brand and tweak its name.

The new logo – which includes a blend of boldfaced and regular lettering, combined with the company name in capital letters to embody strength and purpose – is part of the agency’s #RoverRefresh campaign, launched during what’s proven to be a big year of growth and expansion of service for the agency. That campaign also includes a contest for local startup companies, which will be announced this afternoon, and there will also be social media activities that invite the public to participate in the logo launch.

25. Citigroup to Pay $7 Billion in Subprime Mortgages Probe -

WASHINGTON (AP) – Citigroup agreed Monday to pay $7 billion to settle a federal investigation into its handling of risky subprime mortgages, admitting to a pattern of deception that Attorney General Eric Holder said "shattered lives" and contributed to the worst financial crisis in decades.

26. Midtown Retail Center Owner Files $3 Million Loan -

The owner of the retail building at 1460 Union Ave. in Midtown that houses Office Max and Cricket stores has filed a $2.9 million loan on the property.

27. City Council Turns Again to Benefits Discussions -

Memphis City Council members won’t take any major votes Tuesday, July 15, on city employee benefits.

But the controversial topic will likely dominate much of another council day at City Hall. The council is in the gap between its approval of health insurance changes in June and an October vote on the companion proposal to change city employee pension plans for new hires and those with less than 10 years of service.

28. Dance Teacher Spreads Love of Dance From Cordova -

Arman Sahakyan, born in Armenia’s capital city of Yerevan, started taking dance classes as a 6-year-old.

Fast forward almost three decades, and today the 33-year-old remains committed to dance as an art form – only now he’s also spreading that enthusiasm to others as the owner of Dancing With Arman, a dance studio in Cordova.

29. Fed No. 2 Fischer Says Care Needed to Avert Crisis -

WASHINGTON (AP) – The Federal Reserve's new No. 2 official says regulators must continue to work to end the need for the government to bail out big banks in a crisis. Stricter capital requirements, rather than breaking up the biggest banks, is the better remedy, he says.

30. We’re All Invited -

MEMPHIS, SERVED IN THE SHELL. Following up last week’s column, this from a reader:

“We have no civic pride, half the population is intent on killing as many as they can and the other part lives behind walls or gates. There was a time in the fifties when you could leave your front door unlocked and keys in the car.”

31. Fed Split on Signals for First Rate Increase -

WASHINGTON (AP) – Federal Reserve officials had differing views in June on the best way to signal to financial markets when they might raise a key short-term interest rate. They were in broad agreement, however, that they will likely announce an end to their monthly bond buying program in October.

32. US Companies Post Most Jobs in 7 Years in May -

WASHINGTON (AP) – U.S. employers advertised more jobs in May than in any month in the past seven years, a sign that this year's strong hiring trend is likely to continue.

More Americans also quit their jobs, a good sign because it usually occurs when workers find new and higher-paying jobs. It also opens up more positions for those out of work.

33. Cushman & Wakefield Adds Yates to Capital Markets Team -

Alex Yates has joined the Cushman & Wakefield/Commercial Advisors Capital Markets team as vice president, assisting and executing investment sales, debt/equity placement and development advisory projects. Yates’ efforts will be heavily concentrated in multifamily and retail, but he will focus on other product types as well.

34. Malone Center Owner Files $4.1 Million Loan -

The owner of the 23.7-acre Malone Distribution Center near the intersection of East Raines Road and Lamar Avenue in Oakhaven has filed a $4.1 million loan on the industrial property.

Cobalt Industrial REIT II filed the deed of trust with absolute assignment of leases and rents, security agreement and fixture filing July 1 through Wells Fargo Bank NA. The deed encompasses parcels at 4366 Malone Road, 4406 Malone and 4436 Malone.

35. Addison at Collierville Owner Files $17 Million Loan -

400 Orchard Circle
Collierville, TN 38017
Loan Amount: $16.8 million

Loan Date: July 1, 2014
Maturity Date: July 1, 2021
Borrower: G&I VII Addison at Collierville LLC
Lender: CBRE Capital Markets Inc.
Details: The owner of the 226-unit Addison at Collierville apartments at 400 Orchard Circle W. has filed a $16.8 million loan on the property.

36. Economic Development Growth Engine Looks to Make PILOTs More Effective -

For years, the payment-in-lieu-of-taxes incentive used to recruit or retain jobs in Memphis and Shelby County has been a lightning rod for criticism, particularly from municipal labor unions who view the incentives as corporate welfare that erodes the tax base.

37. US Trade Deficit Drops to $44.4 Billion in May -

WASHINGTON (AP) – The U.S. trade deficit fell in May as U.S. exports hit an all-time high, helped by a jump in exports of petroleum products. Imports dipped slightly.

The trade deficit narrowed 5.6 percent in May to $44.4 billion after hitting a two-year high of $47 billion in April, the Commerce Department reported Thursday.

38. Addison at Collierville Owner Files $17 Million Loan -

The owner of the 226-unit Addison at Collierville apartments at 400 Orchard Circle W. has filed a $16.8 million loan on the property.

39. Yellen Sees Little Threat to Financial Stability -

WASHINGTON (AP) – Federal Reserve Chair Janet Yellen said Wednesday that she doesn't see a need for the Fed to start raising interest rates to defuse the risk that extremely low rates could destabilize the financial system.

40. 32 States Trail US as a Whole in Job Recovery -

WASHINGTON (AP) – Five years after the Great Recession officially ended, most states still haven't regained all the jobs they lost, even though the nation as a whole has.

In May, the overall economy finally recovered all 9 million jobs that vanished in the worst downturn since the 1930s. Another month of solid hiring is expected in the U.S. jobs report for June that will be released Thursday.

41. Medical Device Accelerator Prepares for Demo Day -

Teams participating in ZeroTo510, Memphis’ medical device accelerator program, are gearing up to show the new technologies they’ve devised to investors in a bid for follow-on funding next month.

ZeroTo510’s Demo Day, happening Aug. 14, represents the culmination of the program.

42. Contracts to Buy US Homes Up Sharply in May -

WASHINGTON (AP) – The number of Americans who signed contracts to buy homes shot up in May. But the pace of buying this year remains slower than in 2013, in part because of sluggish sales during winter.

43. Two Centennial Crossing Parcels Face Foreclosure -

The owners of two parcels in the Centennial Crossing shopping center in Southeast Shelby County have defaulted on a loan and are facing foreclosure.

MLC Investors LLC (56.08 percent interest), EJP Investors LLC (38.71 percent) and EK Investors LLC (5.21 percent interest) defaulted on their $5.8 million loan through IXIS Real Estate Capital Inc. dated Nov. 17, 2006, according to a first-run foreclosure notice in the Tuesday, July 1, edition of The Daily News.

44. Timing Key Element of County Tax Rate Debate -

More funding from Shelby County government for prekindergarten classrooms is a matter of timing, say those on both sides of the property tax rate question on which the $2.8 million in additional funding hinges.

45. Council Moves Toward Pension Changes -

Two weeks after approving changes in health insurance plans for city employees and retirees, the Memphis City Council meets Tuesday, July 1, to talk over a companion set of changes to the city’s pension plan for employees.

46. Paragon Bank Celebrates Record 2013 -

At Paragon Bank’s annual shareholders’ meeting this month, the bank’s leadership team could be forgiven for brimming with confidence.

47. Durable Goods Orders Drop 1 Percent in May -

Orders for U.S. durable goods tumbled 1 percent in May as demand for military equipment fell sharply. But excluding defense-related goods, orders actually rose, and orders in a key category that signals business investment also increased.

48. Hollingsworth Buys Mississippi Industrial Property -

The Hollingsworth Cos., which operates a prominent industrial development company with holdings across the South, has acquired an industrial building in Senatobia, Miss.

Clinton, Tenn.-based Hollingsworth recently acquired the 198,450-square-foot building at 795 Shands Bottom Road in Senatobia from BMW.

49. Raymond James Recommits to Downtown -

Raymond James is extending its commitment to Downtown Memphis, where the investment firm will remain a key part of the city’s skyline for at least another decade.

The firm has reached a deal with Parkway Properties to extend its lease on the Raymond James Tower at 50 N. Front St. until March of 2024.

50. Barnes & Noble to Separate Retail, Nook Media -

NEW YORK (AP) – Barnes & Noble hopes to survive by splitting in two.

The largest U.S. brick-and-mortar bookseller, beset by tough competition from online retailers like Amazon and discount stores like Wal-Mart, said Wednesday that it plans to split off its Nook e-reader division as it looks to boost shareholder value.

51. Economy Shrank at Steep 2.9 Percent Rate in First Quarter -

WASHINGTON (AP) – The U.S. economy shrank at a steep annual rate of 2.9 percent in the January-March quarter as a harsh winter contributed to the biggest contraction since the depths of the recession five years ago. But the setback is widely thought to be temporary, with growth rebounding solidly since spring.

52. Durable Goods Orders Drop 1 Percent in May -

Orders for U.S. durable goods tumbled 1 percent in May as demand for military equipment fell sharply. But excluding defense-related goods, orders actually rose, and orders in a key category that signals business investment also increased.

53. New Nonprofit Charts Role in Blight Fight -

The bulldozer went straight for the leasing office of the former Spanish Oaks apartments on Cazassa Road near Memphis International Airport.

Meanwhile another bulldozer across the two-lane road was deep into demolishing a set of buildings in the old Winchester Park apartments.

54. Legacy Farm Owner Files $29.8 Million Loan -

1120 Winchester Road
Collierville, TN 38017
Loan Amount: $29.8 million

Loan Date: June 18, 2014
Maturity Date: July 1, 2021
Borrower: Legacy Farm LLC
Lender: CBRE Capital Markets Inc.
Details: The owner of the 368-unit Legacy Farm apartment complex at 1120 Winchester Road in Collierville has filed a $29.8 million loan on the property.

55. Fire, Police Union Brass Say Lawsuit is Coming -

The leaders of the Memphis police and fire unions say they will sue the city over changes in employee health insurance approved this month and are prepared to add pension changes to the litigation if the council approves those changes next month.

56. Olive Garden, Red Lobster Sales Continue to Slide -

NEW YORK (AP) – Darden said Friday that sales continued to slide at Olive Garden and Red Lobster, with other costs dragging down its profit by 35 percent in the latest quarter.

The results fell short of Wall Street expectations, and shares were down 2.5 percent in midday trading.

57. Legacy Farm Owner Files $29.8 Million Loan -

The owner of the 368-unit Legacy Farm apartment complex at 1120 Winchester Road in Collierville has filed a $29.8 million loan on the property.

58. Fewer Americans Apply for Jobless Aid -

Fewer Americans sought unemployment benefits last week, as the number of people collecting jobless aid fell to its lowest level in more than six years.

The Labor Department said Thursday that weekly applications for unemployment benefits fell 6,000 to a seasonally adjusted 312,000. The four-week average, a less volatile measure, declined to 311,750.

59. Plastics Recycler Receives Incentives -

A company that recycles and manufactures post-industrial plastics was awarded incentives to relocate from Arkansas to Memphis.

RE-CY, or RE-CY Plastics, was awarded a four-year payment-in-lieu-of-taxes incentive from the board of the Economic Development Growth Engine of Memphis and Shelby County to relocate its plastics recycling and manufacturing operations to Memphis from Searcy, Ark.

60. New Push to Get Girls Into Computer Sciences -

MOUNTAIN VIEW, Calif. (AP) – Diana Navarro loves to code, and she's not afraid to admit it. But the 18-year-old Rutgers University computer science major knows she's an anomaly: Writing software to run computer programs in 2014 is – more than ever – a man's world.

61. Fewer Americans Apply for Jobless Aid -

Fewer Americans sought unemployment benefits last week, as the number of people collecting jobless aid fell to its lowest level in more than six years.

The Labor Department said Thursday that weekly applications for unemployment benefits fell 6,000 to a seasonally adjusted 312,000. The four-week average, a less volatile measure, declined to 311,750.

62. Plastics Recycler RE-CY Receives Incentives -

A company that recycles and manufactures post-industrial plastics was awarded incentives to relocate from Arkansas to Memphis.

RE-CY, or RE-CY Plastics, was awarded a four-year payment-in-lieu-of-taxes incentive from the board of the Economic Development Growth Engine of Memphis and Shelby County to relocate its plastics recycling and manufacturing operations to Memphis from Searcy, Ark.

63. Heart of Park Advances as Shelby Farms Parkway Stalls -

Within the space of a few days this month, the Shelby Farms Park Conservancy formally broke ground on the park’s $70 million Heart of the Park project and then its leaders watched as the Memphis City Council delayed the Shelby Farms Parkway project for a year.

64. Gestalt Schools Signs Lease in Hickory Hill -

A charter school operator has inked a lease for space on Winchester Road in Hickory Hill.

Gestalt Community Schools has leased 57,000 square feet of space at 5360 Winchester Road inside the Mendenhall Square shopping center.

65. Battle Lines -

The city’s operating and capital budgets are just about set for the new fiscal year next month. Hard decisions made about health insurance for city employees and retirees Tuesday, June 17, are unlikely to be revisited by the Memphis City Council.

66. Long Council Day Comes With Change, Emotions -

It was apparent early in the long council day Tuesday, June 17, at City Hall that there wouldn’t be many amendments to the $600 million operating budget and $84 million capital budget the council would approve later that evening.

67. Back on Track -

Two major Downtown projects that suffered setbacks after the real estate market seized up when the recession battered the economy are poised for a comeback.

Real estate experts and Downtown officials say the prospects for the Horizon on the southern end of Downtown and One Beale at Beale Street and Riverside Drive appear promising.

68. Council Approves Budgets, Stable Tax Rate, Health Insurance Changes -

Memphis City Council members approved a $600 million operating budget and an $84 million capital budget Tuesday, June 17, for the city government fiscal year that begins July 1.

And the council gave final approval to larger changes to employee and retiree health insurance plans designed to make long term changes necessary to right the city’s financial condition.

69. Partners Drive Startup Ecosystem -

Building startups is tough work that requires the engagement of money, mentorship and professional support.

Back before there were incubators, accelerators and formal platforms to systematically assist startup companies, there were critical trusted advisers in the community to help guide entrepreneurs as they started up. Those advisers were local bankers, lawyers, marketers, accountants and others where entrepreneurs could turn for support and guidance. While new startup infrastructures have sprung up to provide knowledge, capital and other resources, professionals continue to be the backbone driving entrepreneurial growth.

70. County Budget Season Not Over Yet -

The Shelby County Commission defeated two competing versions of the county property tax rate for the new fiscal year on the second of three readings Monday, June 16.

But they both advance to third and final readings when the commission meets in July.

71. Council to Vote on Insurance Changes, Budget -

Most of council day at City Hall Tuesday, June 17, will be devoted to closing out most, but not all, of the city’s budget season.

The Memphis City Council should make final decisions Tuesday on a stable city property tax rate and approve operating and capital budgets for the fiscal year that begins July 1.

72. Check, Please: Priceline Buys OpenTable for $2.6 Billion -

NEW YORK (AP) – Priceline has negotiated a $2.6 billion entree into the restaurant business.

The global travel booking king announced Friday it is acquiring the OpenTable Inc. in a deal that would put Priceline into a new business doing for restaurant reservations much what it does for hotel bookings.

73. Perfection vs. Petri Dish -

We live in the fastest-evolving marketplace in history, so why is it that so many companies still move so slowly bringing new products to market?

We believe it is because they are holding fast to an industrial revolution mindset where innovations are carefully devised, honed and perfected. The heft of extensive machines and expensive infrastructure mire down the collective mindset, locking in a collective fear of imperfection. There is much to learn from the nimble tech industry that focuses on speed to market over perfection.

74. House Votes to Make Business Tax Break Permanent -

WASHINGTON (AP) – The House voted Thursday to make permanent a generous tax break that makes it easier for small businesses to buy new equipment and improve their property, part of an election-year showdown over a series of expired tax breaks worth billions.

75. US Retail Sales Rose 0.3 Percent in May -

WASHINGTON (AP) – U.S. retail sales rose modestly in May as consumers turned cautious in their spending. But the weaker-than-expected growth is unlikely to derail stronger overall results in the second quarter.

76. Company Files Loan on Germantown Location -

The owner of the 26,640-square-foot Germantown Fresh Market and attached strip retail center at 9375 Poplar Ave has filed a $4.2 million loan on the property.

77. Council Weighs Timeline for Key Votes -

The Memphis City Council’s vote later this month on health insurance changes for city employees and retirees is critical in terms of increasing the city’s annual required contribution toward its unfunded pension liability.

78. Judicial Campaigns Get Testy With Endorsements -

Some of the reticence about political combat that defines local nonpartisan judicial elections is beginning to wear thin with a little more than a month until the start of early voting for the Aug. 7 elections.

79. Council to Review Actuary Numbers Tuesday -

Memphis City Council members meet in committee Tuesday, June 10, at 5 p.m. to go over the latest numbers from the actuary consulting firm they hired to review city finances.

Segal Consulting of Atlanta’s preliminary estimate of the city’s unfunded pension liability was $457 million, well below the $700 million preliminary estimate from Memphis Mayor A C Wharton Jr.’s administration.

80. How to Sabotage Your Fundraising -

Fundraising is about asking for money. That’s the common perception. But is it the truth?

Here’s what we have learned from our extensive work with nonprofit organizations, colleges and universities, individual donors, program officers and foundation executives: Fundraising is about much more than asking for money.

81. Nashville Mayor Maps Issues Similar to Memphis -

The Nashville mayor who was once Davidson County's public defender says schools in his city aren’t meeting his test for success in public education.

He is concerned with attracting talent to the city and touts diversity as a key component of that. And his city has a critical need for a “more robust” mass transit system, he said last week.

82. Luttrell Opens Campaign With Warning -

The way Mark Luttrell sees it, his campaign for mayor in 2014 is different than his campaign four years ago because then he was challenging an incumbent and now he is the incumbent.

83. Culture of Collaboration -

Despite tremendous advances in technology that yield nearly infinite access to information and the Internet’s connectivity of the world’s greatest experts, many companies continue to look inward for new product development and innovation.

84. Cohen Challenges Haslam on Medicaid Expansion -

U.S. Rep. Steve Cohen says the city’s fair share of federal funding for rape kit backlogs is $1 million.

85. Regions Partners in Inner-City Business Program -

To use a metaphor to illustrate the purpose of a new program to help inner-city businesses in Memphis grow, the program represents the difference between focusing on rowing your boat and scouting the horizon for a new port to direct your boat toward.

86. Fed Survey: Economy Showing Improvement Across US -

WASHINGTON (AP) – A Federal Reserve survey shows the U.S. economy strengthening over the past two months in areas from manufacturing and construction to retail sales and bank lending.

Seven of the Fed's 12 regions – Boston, New York, Richmond, Chicago, Minneapolis, Dallas and San Francisco – reported "moderate" growth during the early spring, while the remaining five described growth as "modest," according to the Beige Book survey released Wednesday.

87. Survey: US Companies Added 179,000 Jobs in May -

WASHINGTON (AP) – U.S. businesses pulled back on hiring in May, adding the fewest jobs in four months, a private survey showed.

Payroll processer ADP said Wednesday that private employers added 179,000 jobs last month, down from 215,000 in the previous month. April's figure was revised slightly lower. Still, the gain in May was in line with the ADP's average monthly hiring figures for the past 12 months.

88. Budget Changes Include Cooper-Young Garage -

A Cooper-Young parking garage and a pool of capital funding divided equally among the seven Memphis City Council districts are the two biggest ticket items in the way of still-tentative budget amendments proposed by council members.

89. Council Begins Decisions on City Financial Changes -

Memphis City Council members took the first steps Tuesday, June 3, toward major changes in pension benefits for city employees and began delving into the details of even broader changes in health insurance coverage for city employees and retirees.

90. Bailey Continues Call for Shelby Farms Development -

Walter Bailey is the only serving Shelby County Commissioner who was part of the 1970s debate on the commission about what to do with the farmland that was the old Shelby County Penal Farm.

91. Luttrell, Malone Clash on Pre-K Expansion -

The top two contenders for Shelby County mayor had the closest thing yet to a debate Monday, June 2, on budget priorities.

Shelby County Mayor Mark Luttrell and his Democratic challenger, former County Commissioner Deidre Malone, didn’t address each other directly.

92. Commission Approves Budgets and Dueling Tax Rates Without PreK Amendment -

Shelby County Commissioners signed off Monday, June 2, on a $1.1 billion consolidated operating budget for all of Shelby County government as well as a $75 million capital budget, both for the fiscal year that begins July 1.

93. Perkins Hotel Sells After Foreclosure -

2700 S. Perkins Road
Memphis, TN 38118
Sale Amount: $2.2 million

Sale Date: May 23, 2014
Buyer: HC Memphis LLC
Seller: Douglas M. Alrutz, successor trustee
Details: The Inn at Thousand Oaks hotel at 2700 S. Perkins Road in Parkway Village has sold for $2.2 million following a first-run foreclosure notice filed earlier this year.

94. Council to Discuss Retirement Plan Changes -

Memphis City Council members begin moving Tuesday, June 3, toward the first of three votes on a quartet of ordinances that would fundamentally change health care and pension benefits for city employees.

95. Consumer Spending Down 0.1 Percent in April -

U.S. consumers cut back on spending in April for the first time in a year, taking an unexpected pause after a big jump during the previous month. The results, however, are unlikely to derail an expected spring rebound in the economy.

96. Perkins Hotel Sells After Foreclosure -

The Inn at Thousand Oaks hotel at 2700 S. Perkins Road in Parkway Village has sold for $2.2 million following a first-run foreclosure notice filed earlier this year.

97. Commission to Vote on Budget, Tax Rate -

Shelby County Commissioners take final votes Monday, June 2, on a $1.1 billion operating budget and a $75 million capital budget for Shelby County government, and the first of three votes on a new property tax rate for the fiscal year that begins July 1.

98. Argent Financial Adds Brundick in Memphis -

Argent Financial Group has added Ed Brundick to its Memphis team.

He’ll serve as market president of Argent Trust’s Memphis operations, while also partnering with investment firm and Argent subsidiary Highland Capital Management LLC.

99. Durable Goods Orders Up 0.8 Percent in April -

Orders to U.S. factories for long-lasting manufactured goods advanced for a third month in April, but much of the strength came from a big surge in demand for military aircraft. Orders in a category that signals business investment plans fell by the largest amount in three months.

100. FedEx, International Paper Join Buyback Trend -

Recent stock repurchases by major U.S. corporations since the recession are a financial fact of life and the city’s best known publicly-held companies are no exception to the practice that can have multiple motives as well as multiple effects.