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Editorial Results (free)

1. US Consumer Spending Dips 0.1 Percent -

WASHINGTON (AP) – U.S. consumer spending fell in July, with a drop in auto purchases accounting for most of the weakness. Income growth also slowed.

Consumer spending edged down 0.1 percent last month after a 0.4 percent increase in June, the Commerce Department reported Friday. It was the first decline in spending since January. Income growth slowed to 0.2 percent in July, the weakest showing in seven months.

2. Council to Review Alternative Health Plan -

Memphis City Council members Tuesday, Sept. 2, talk over a proposed high-deductible health insurance plan that would restore health benefits for city employees and retirees.

The 1:30 p.m. executive session discussion by the full council is the first since the leaders of the Memphis Fire Fighters Association pitched the plan at a health insurance oversight committee session in July.

3. Developers Swing, Miss in Attempt to Buy Prime Germantown Locale -

The first time I stepped into this mustard-yellow building at 300 Jefferson Street to ask how it felt to have the Nashville Sounds moving in across the street, Wayne Woelk, 50, was having a heart attack.

4. People Power -

Meg Crosby and her fellow principals at the HR-focused consulting firm PeopleCap chose that name for their organization because of the way they think about the modern workplace – particularly, the ever-changing nature of the employees who populate it.

5. US Economy Grew at 4.2 Percent Rate in Second Quarter -

WASHINGTON (AP) – After a bleak start to the year, the U.S. economy grew at a brisk annual rate of 4.2 percent in the April-June quarter, the government said Thursday, slightly faster than it had first estimated.

6. Greenprint Advocates Tout Range of Benefits -

After being lampooned for years as one of the worst metro areas in the country for bicyclists and pedestrians, the Memphis region is poised to make a huge leap forward in developing a regional greenway and trail system.

7. Meet Hong Kong -

I just realized that while I have now lived in Hong Kong for nearly a month I have failed to properly introduce you. Allow me to give you the tour.

Between 1842 and 1997, the British controlled the 425-square-mile territory of Hong Kong, which includes Kowloon, the New Territories and over 200 smaller islands. Its proximity to China and its naturally deep water ports make Hong Kong an ideal trade destination. When China reopened in the 1980s, manufacturing boomed in nearby Shenzhen, and Hong Kong became the natural financial and logistics center ... in a way, China’s front office.

8. Hard to Swallow? Burger King May Move to Canada -

NEW YORK (AP) – Some Burger King customers are finding it hard to swallow that the home of the Whopper could move to Canada.

Investors seemed to welcome the announcement by Burger King late Sunday that it was in talks to buy Canadian coffee-and-doughnut chain Tim Hortons and create the world's third-largest fast-food restaurant company. The news pushed shares of both companies up more than 20 percent.

9. Events -

Mid-South Minority Business Council Continuum will host its 2014 Economic Development Forum Tuesday, Aug. 26, through Thursday, Aug. 28, at Memphis Cook Convention Center, 255 N. Main St. Attendees can hear nationally known speakers, learn business growth strategies and get access to business capital. Register at edf.mmbc-memphis.org.

10. Yellen: Job Market Makes Fed Hesitant on Rate Hike -

JACKSON HOLE, Wyoming (AP) – Federal Reserve Chair Janet Yellen said Friday that the Great Recession complicated the Fed's ability to assess the U.S. job market and made it harder to determine when to adjust interest rates.

11. Events -

Mid-South Minority Business Council Continuum will host its 2014 Economic Development Forum Tuesday, Aug. 26, through Thursday, Aug. 28, at Memphis Cook Convention Center, 255 N. Main St. Attendees can hear from nationally known speakers, learn business growth strategies and get access to business capital. Register at edf.mmbc-memphis.org.

12. Council Rejects Utility Construction Contract -

The Memphis City Council approved on the first of three readings Tuesday, Aug. 19, an ordinance that adjusts the city’s policy on the investment of the city’s pension fund. The change would up the percentage of investments in real estate from 5 percent to 10 percent.

13. Source: Horizon Under Contract To Be Purchased -

The Horizon, an uncompleted 16-story residential tower overlooking the Mississippi River on the southern end of Downtown, could change hands soon.

A yet-to-be-identified buyer is under contract to purchase the tower, according to sources familiar with the effort.

14. Council Rejects Utility Construction Contract -

The Memphis City Council approved on the first of three readings Tuesday, Aug. 19, an ordinance that adjusts the city’s policy on the investment of the city’s pension fund. The change would up the percentage of investments in real estate from 5 percent to 10 percent.

15. Fullilove Calls Off Sales Tax Hike Try, Unions May Try -

Memphis City Council member Janis Fullilove pulled the plug Tuesday, Aug. 19, on a proposed November referendum on a citywide half cent sales tax hike.

16. US Home Construction Jumps 15.7 Percent in July -

WASHINGTON (AP) – U.S. home construction rebounded in July, rising to the fastest pace in eight months and offering hope that housing has regained momentum after two months of declines.

17. Developer Files Permit for Graceland-Area Hotel -

3411 Elvis Presley Blvd.
Memphis, TN 38116
Permit Cost: $3.5 million

18. Council Reviews Pension Investment Changes -

For the first time in months, Memphis City Council members have no committee discussions scheduled Tuesday, Aug. 19, on city health insurance benefits or proposed pension plan changes.

But the council will vote on the first in a series of pension plan changes to come.

19. Hotel Owner Files $3 Million Loan -

The new owner of the Inn at Thousand Oaks hotel at 2700 S. Perkins Road in Parkway Village has filed a $3 million loan on the property.

20. Where the Values Aren’t -

Downturns, while painful, can be very useful for the information they provide.

The S&P 500, representative of U.S. large cap stocks, declined 4 percent between July 24 and Aug. 7. Limiting our data set to this time period produces a couple of interesting observations. First, while interest rates didn’t actually move as feared, interest rate sensitive investments did. Master limited partnerships, utilities and high dividend payers underperformed over the period. Second, the emerging and frontier markets outperformed notably.

21. LYFE Kitchen Moving to Memphis -

LYFE Kitchen, a unique California-based restaurant concept, will move its headquarters to Memphis and open two locations – one in Downtown and another in East Memphis.

Palo Alto, Calif.-based LYFE, which stands for Love Your Food Everyday, will open a restaurant in the former Sharky’s Gulf Grill location at 6201 Poplar Ave. and another inside Downtown’s Chisca Hotel, now under construction.

22. US Postal Service Loses $2 Billion This Spring -

WASHINGTON (AP) – The U.S. Postal Service lost $2 billion this spring despite increasing its volume and charging consumers more money to send mail, officials said Monday.

The loss for the spring quarter, which ended June 30, was significantly higher than the $740 million loss for the same three-month period last year. The agency blamed increases in compensation and benefit costs for the red ink and said it would be unable to make a congressionally mandated payment of $5.7 billion this September for health benefits for future retirees. The loss came despite a 2 percent increase in operating revenue compared to last spring.

23. New York Firm Buys Retirement Community -

996 Cherry Road
Memphis, TN 38117
Sale Amount: $12.9 million

Sale Date: July 30, 2014
Buyer: GFTV Audubon Owner LLC
Seller: TV Memphis LP
Loan Amount: $23.5 million
Loan Date: July 30, 2014
Maturity Date: N/A
Lender: Grandbridge Real Estate Capital LLC
Details: An affiliate of New York-based Garrison Investment Group has paid $12.9 million for the 176-unit Town Village Audubon Park retirement community at 950 Cherry Road in East Memphis.

24. McDonald's Sales Hit by China Scandal, US Weakness -

NEW YORK (AP) – McDonald's says a global sales figure fell 2.5 percent in July, dragged down by persistent weakness in the U.S. and a food safety scare in China.

The world's biggest hamburger chain said Friday that the decline included a 3.2 percent drop in the U.S. and a 7.3 percent drop in the unit encompassing Asia, the Middle East and Africa.

25. Springing to Life -

When Ridgeland, Miss.-based development firm the Bryan Co. broke ground on The Horizon condominium tower in 2007, it was at the peak of the housing bubble and optimism from elected officials and Downtown boosters was equally high.

26. Tamp & Tap to Open in East Memphis -

One of the newest office buildings in East Memphis has landed a popular local coffee shop and restaurant.

Tamp & Tap responded to repeated overtures from Highwoods Properties Inc. and has leased 2,785 square feet of space on the first floor of the Triad Centre III building on Poplar Avenue in East Memphis.

27. Madonna Learning Center Files $3.5 Million Loan -

Madonna Learning Center, a school for children and young adults with special needs, has filed a $3.5 million loan on its 7007 Poplar Ave. location in Germantown, which is undergoing an expansion.

28. US Factory Orders Rise 1.1 Percent in June -

WASHINGTON (AP) – Orders to U.S. factories increased in June, led by demand for aircraft, industrial machinery and computers and electronics.

Orders rose a seasonally adjusted 1.1 percent compared to the previous month, the Commerce Department reported Tuesday. Factory orders had fallen 0.6 percent in May after three straight months of gains.

29. Incoming Civil Rights Museum President Seeks Connection -

The incoming president of the National Civil Rights Museum remembers a quick and hurried visit to the museum shortly after the debut of an extensive renovation earlier this year.

“It lends itself to giving people a physical, spiritual experience in coming here. It is a moving institution,” said Terri Lee Freeman, who comes to the museum from being president of the Community Foundation for the National Capital Region in Washington, D.C. “I come from a town where there are a lot of museums. I’ve never had the experience of being physically moved by a museum like I had when I came here the first time.”

30. Health Care Safety Net Tops Council Agenda -

Memphis City Council members get more information during the Tuesday, Aug. 5, council day on different parts of City Hall’s ongoing health benefits and pension liability discussions.

But the only item on the agenda for a vote Tuesday is a resolution to create a $2 million “safety net” that was delayed last month.

31. US Consumer Spending Up 0.4 Percent in June -

WASHINGTON (AP) — U.S. consumer spending rose at the fastest pace in three months in June, providing momentum for the economy going into the second half of the year.

Consumer spending increased 0.4 percent in June on a seasonally adjusted basis following slower increases of 0.3 percent in May and 0.1 percent in April, the Commerce Department said Friday.

32. US Manufacturing Expands Again in July -

WASHINGTON (AP) — US manufacturing expanded for the 14th straight month in July in a good sign for the overall economy.

The Institute for Supply Management, a trade group of purchasing managers, reported Friday that its manufacturing index rose to 57.1, highest level since April 2011 and up from 55.3 in June.

33. US Manufacturing Expands Again in July -

U.S. manufacturing expanded for the 14th straight month in July in a good sign for the overall economy.

The Institute for Supply Management, a trade group of purchasing managers, reported Friday that its manufacturing index rose to 57.1, highest level since April 2011 and up from 55.3 in June.

34. More Vigorous US Economy Appears to Be Emerging -

WASHINGTON (AP) — The U.S. economy has rebounded with vigor from a grim start to 2014 and should show renewed strength into next year.

That was the general view of analysts Wednesday after the government estimated that the economy grew at a fast 4 percent annual rate in the April-June quarter. Consumers, businesses and governments joined to fuel the second-quarter expansion. The government also said growth was more robust last year than it had previously estimated.

35. 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.

36. 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.

37. 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.

38. 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.

39. 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.

40. 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.

41. 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.

42. 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.

43. 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.

44. 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.

45. 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.

46. 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.

47. 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.

48. 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.

49. 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.

50. 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.”

51. 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.

52. 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.

53. 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.

54. 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.

55. 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.

56. 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.

57. 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.

58. 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.

59. 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.

60. 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.

61. 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.

62. 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.

63. 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.

64. 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.

65. 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.

66. 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.

67. 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.

68. 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.

69. 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.

70. 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.

71. 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.

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. 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.

74. 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.

75. 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.

76. 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.

77. 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.

78. 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.

79. 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.

80. 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.

81. 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.

82. 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.

83. 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.

84. 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.

85. 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.

86. 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.

87. 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.

88. 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.

89. Change on Tap for Many Local Public Companies -

Here’s a snapshot of recent news and developments at some of the publicly traded companies based in Memphis, reflecting the influence these companies have and the shadows they cast both in Memphis and beyond, in industries that range from bioscience to banking.

90. Get Real -

NASHVILLE, THE CAPITAL OF Q. WHO KNEW? Last week – in a move I equate with Russian forces massing along our eastern border – Travel + Leisure ranked Nashville as America’s #1 city for barbecue.

91. Medical Makeover -

After suffering from years of benign neglect, a new, more invigorated Memphis Medical Center is finally beginning to take shape.

A drive or walk around the area these days shows the hallmarks of a changing landscape – bulldozers, backhoes, cranes and construction crews working feverishly to forge the new urban environment.

92. Grants Prove Bioworks is Delivering Good Results -

One grant is good. Two grants are better.

In 2012, Memphis Bioworks received a grant from the U.S. Environmental Protection Agency’s Environmental Workforce Developmental and Job Training Program (EWDJT). The $300,000 grant issued provided training for 110 persons, 65 of whom already have been placed in full-time jobs.

93. US Home Sales Rose 1.3 Percent in April -

WASHINGTON (AP) – Sales of existing U.S. homes rebounded slightly in April, but the pace of buying remained below last year's level.

The National Association of Realtors said Thursday that sales rose 1.3 percent from March to a seasonally adjusted annual rate of 4.65 million. Purchases of homes over the past 12 months have dropped 6.8 percent.

94. Council Hesitates Over Fire Recruit Class Funding and Charter Restrictions -

Memphis City Council members discussed a new recruit class Tuesday, May 20, for the Memphis Fire Department that is not in Memphis Mayor A C Wharton Jr.’s budget proposal.

But council members voted down a plan to come up with the $1.7 million for the class of 100 fire recruits from a $3 million cut in the line item for fire department sick leave, proposed by council member Kemp Conrad.

95. Selling to Connected Buyers -

First in a two-part series. The buying experience has been completely reinvented over the last decade, and companies slow to adapt are losing revenue and market share as a result.

A 2011 Sales Executive Council study showed 57 percent of the buying process is completed before a prospect even makes contact with a sales rep. We now live in a world built predominantly of connected buyers whose minds are almost made up before they choose to interact with a member of your team, as most of the desired information is at their fingertips, day or night. If they make contact, buyers don’t distinguish between a customer service and sales rep, as they see them as one in the same.

96. Darden to Sell Red Lobster, Hold Onto Olive Garden -

NEW YORK (AP) – Darden is setting Red Lobster adrift, but betting that it can still turn around Olive Garden's fortunes.

The company, which is based in Orlando, Florida, said Friday that it would sell its seafood chain and the accompanying real estate to investment firm Golden Gate Capital in a $2.1 billion cash deal. The announcement came despite objections from some shareholders to the plan to separate Red Lobster, which was announced late last year.

97. Trustmark Regional President Reflects on Future -

When yours is a bank that’s traditionally had a suburban footprint, moving inside the Interstate 240 loop to open a new regional headquarters is the kind of thing that makes a statement.

Trustmark’s newly opened regional headquarters, at 5350 Poplar Ave. in East Memphis, was an attempt to do just that. It came after Gene Henson, the bank’s Memphis region president, had been hunting for such a space for years – for pretty much the entirety of his time in Memphis, actually.

98. US Retail Sales Rise a Scant 0.1 Percent in April -

WASHINGTON (AP) – U.S. retail sales growth slowed in April, with consumers shopping less online and cutting back on purchases of furniture and electronics.

The Commerce Department said Tuesday that seasonally adjusted retail sales rose just 0.1 percent last month, after surging 1.5 percent in March following a harsh winter that had curtailed shopping.

99. Commission Approves Compromise $52.1 Million in Schools Capital Funding -

Shelby County Commissioners approved Monday, May 12, an immediate infusion of $52.1 million in capital funding for Shelby County Schools and the six suburban school systems.

The compromise resolution worked out with leaders of the suburban school systems includes $4.8 million in capital projects at five of the six suburban school systems. It also keeps the $47.3 million in capital projects for Shelby County Schools a majority on the commission recommended in committee sessions last week. The Shelby County Schools list includes a new roof for Millington Central High School which is in the sixth of the six suburban school systems.

100. Life Church Buys Victory Campus for $4.4 Million -

255 N. Highland St.
Memphis, TN 38111
Sale Amount: $4.4 million

Sale Date: May 2, 2014
Buyer: The Life Church of Memphis Inc.
Seller: SignificantPsychology LLC
Loan Amount: $3.8 million
Loan Date: May 2, 2014
Maturity Date: May 5, 2019
Lender: Triumph Bank
Details: The Life Church of Memphis has paid $4.4 million for the former Victory University campus at 255 N. Highland St.