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VOL. 130 | NO. 18 | Wednesday, January 28, 2015

Lot Shortage Leads to Fewer New Homes

Shelby County homebuilding activity slowed in 2014 as builders filed fewer permits and sold fewer homes than in 2013.

Invest Early

A better start for children means a better journey toward adulthood

It would be true if you were talking about stock in Apple Inc., Google Inc. or Netflix Inc. And it is true when talking about children.

Fourth-Quarter New Housing Activity Drops

Shelby County recorded a 12.5 percent drop in new home permits during the fourth quarter, compared to the same three-month period in 2013.

Home Construction Flat in December

New home construction in Shelby County, as tracked by permits, was flat in December when compared to December 2013, but new home sales increased.

Tax Breaks for Ikea Prompt Calls for Changes

When the board of the Economic Development Growth Engine approved a $9.5 million, 11-year tax abatement incentive last week for the new Ikea furniture store planned for Cordova, the decision set in motion the next wave in an already robust political discussion about such incentives.

Local Weather
Today
Memphis, TN
48°F
Fair
Wind: 8 mph
Humidity: 58%

EVENTS

The Rotary Club of Memphis East will meet Wednesday, Jan. 28, at noon at The Racquet Club of Memphis, 5111 Sanderlin Ave. Dr. James R. Downing, president and chief executive officer of St. Jude Children’s Research Hospital, will speak. Cost is $17. RSVP at Lee Hughes at lmhughes@bellsouth.net.

more events »

Commission Approves Center Point Terminal Lease

Shelby County Commissioners approved Monday, Jan. 26, a new five-year lease between Center Point Terminal Co. LLC and the Memphis and Shelby County Port Commission for a dock, wharf and other facilities on Presidents Island in the barge business.

NEWSMAKERS

Randy Odom Named CEO of Memphis Athletic Ministries

Randy Odom has been named president and chief executive officer of Memphis Athletic Ministries. Odom joined MAM in 2006 as a neighborhood center director and became chief operating officer in 2012. In his new role, he oversees all operations and programming for 10 neighborhood youth centers that serve more than 900 underserved youth after school each day.

LOCAL COLUMNISTS

Super Bowl Ad Preview

Regardless of what happens on the field, history will be made at this year’s Super Bowl of advertising – starting with a record price tag of $4.5 million for a 30-second spot, a significant spike from the $4 million advertisers forked over last year.

Why the Market has Fallen in 2015

The stock market overreached in 2013, expecting big things from 2014. Earnings estimates for 2014 were for growth of 10 percent-plU.S. . High expectations boosted valuations above long-term averages.

STATEWIDE

Tennessee Homeless Programs Getting $21 Million From HUD

MEMPHIS, Tenn. (AP) – U.S. Housing and Urban Development officials say more than $21 million in grants will support 162 local homeless housing and service programs in Tennessee.

STATE GOVERNMENT

Attorney General Says Tennessee Would Have Right to Cancel Medicaid Expansion

NASHVILLE, Tenn. (AP) – Tennessee would be able to cancel Gov. Bill Haslam's proposal to extend health coverage to 200,000 low-income people if costs exceed expectations, Attorney General Herbert Slatery said in a legal opinion released Tuesday.

Tennessee AG: Beer Signs Ban Unlikely to Survive Challenge

NASHVILLE, Tenn. (AP) – A little-known Tennessee law banning bars and stores from including beer brands or sales on outside signs could be unconstitutional.

REGIONAL

Google Fiber Expanding to 4 Southeastern Metro Areas

NASHVILLE, Tenn. (AP) – Google said Tuesday it has selected four metro areas in the Southeast to receive its fiber optic service that can deliver Internet speeds at more than 50 times the national broadband average.

NATIONAL BUSINESS

Jury Awards Family $165 Million in FedEx Wrongful Death Lawsuit

SANTA FE, N.M. (AP) – A jury in Santa Fe has awarded an El Paso, Texas family $165 million in a wrongful death lawsuit against FedEx.

Record iPhone Sales Drive Blowout Quarter for Apple

SAN FRANCISCO (AP) – Apple had another blowout quarter thanks to its new plus-sized iPhones, which helped the company smash sales records for the holiday season.

HEALTH CARE

Obama Administration on Track to Surpass Health Care Goal

WASHINGTON (AP) – Some 9.5 million people have already signed up for 2015 coverage under President Barack Obama's health care law, and the administration is on track to surpass its nationwide enrollment target set last year.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 52 119 1,083
MORTGAGES 85 163 1,482
FORECLOSURE NOTICES 11 27 324
BUILDING PERMITS 196 368 2,358
BANKRUPTCIES 55 113 1,056
BUSINESS LICENSES 28 60 454
UTILITY CONNECTIONS 65 148 1,473
MARRIAGE LICENSES 14 30 224

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