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VOL. 126 | NO. 242 | Tuesday, December 13, 2011

ASD Head, MCS Discuss Reforms

The head of the state run Achievement School District that will run a set of low-performing schools across the state is beginning specific discussions with Memphis City Schools officials about decisions to come after the new year.

Green Means Green

Businesses lean on green cleaning practices to improve bottom line

As national real estate guru Jonathan David Miller said at last week’s Urban Land Institute’s Real Estate Outlook for the Mid-South, in the rare event that new construction is taking place for office users, going green is standard in today’s economy.

MPD Investigates Molestation Reports Against Former AAU Dir.

The Memphis Police Department is investigating allegations of child sexual abuse by former Amateur Athletic Union director Bobby Dodd. But police investigators have not yet heard from the two men who claimed in an ESPN documentary that they were sexually abused by Dodd in the 1980s while they were teenagers.

Bookstore Asks Patrons To Buy Local

Over the weekend, employees manning the cash registers at The Booksellers at Laurelwood were more than happy to grant discounts to book-hungry buyers who said the magic phrase: Occupy Amazon.

Berke Earning Respect on Both Sides of Aisle

State Sen. Andy Berke said he had no expectations of what public office would be like when he was elected in 2007.

REAL ESTATE RECAP

LNR Buys Germantown Apartments for $17.1M

7491 Wyndhurst Place or, 7455 Wolf River Blvd., Germantown, TN 38138 -
DMARC 2006-CD2 Wyndhurst Place LLC, an entity affiliated with Miami-based LNR Partners LLC, has bought Oakwood temporary housing apartment complex at 7455 Wolf River Blvd. in Germantown at a foreclosure sale for $17.1 million. The substitute trustee in charge of the sale was Harris P. Quinn.

LOCAL COLUMNISTS

Hokey Plans Can Be Effective

As Jimmy Buffett said in his song: “What if the hokey pokey is what it really is all about?” Here are three things I like about the hokey pokey: 1. It’s simple. 2. It’s easy to understand. 3. It’s easy to implement.

Compliance Brings More Accountability

EuroZone 2.0 Rather than bore you this week with the details of the most recent EU rescue flare, let’s take a look back at the bigger picture. After a 30-year global credit binge, credit is no longer flowing to the irresponsible or over-indebted. Based upon the rules defined in the Maastricht Treaty, entrants into the euro must have a debt-to-GDP ratio below 60 percent and budget deficits below 3 percent of GDP.

MEMPHIS AREA

FedEx Projections: Monday Busiest Day Ever

MEMPHIS – FedEx projected its busiest day ever would be Monday, Dec. 12, with a projected 17 million shipments globally, almost double the usual daily amount.

STATE GOVERNMENT

Haslam: Allow Locals to Set Living Wage Standards

NASHVILLE (AP) – Gov. Bill Haslam said Monday he wants to leave it up to local governments to decide whether to set their own wage requirements for contractors.

Court Hearing Over Seized Gibson Wood Delayed

NASHVILLE (AP) – A federal court hearing over wood seized from Gibson Guitar Corp. has been pushed back from Monday to Jan. 30.

NATIONAL BUSINESS

Investors Exit Stock Funds for 7th Month in a Row

BOSTON (AP) – Investors pulled cash out of stock mutual funds for the seventh month in a row, as the European debt crisis continued to drive U.S. market volatility in November.

Bad Economy? Farmers Have One of Best Years Ever

ST. LOUIS (AP) – An Illinois farmer made so much money this year he made loan payments on one tractor a year in advance and exchanged some older ones for newer models. An Iowa farmer upgraded his combine and also paid off debt, while an elderly Oregon farmer poured into retirement funds a bundle of his $2 million take from a well-timed sale of much of his turf and equipment.

Backlash for Lowe's as Ads Pulled From Muslim Show

LOS ANGELES (AP) – Lowe's Home Improvement has found itself facing a backlash after the retail giant pulled ads from a reality show about American Muslims.

NATIONAL GOVERNMENT

$1T-Plus Spending Bill Taking Shape in Congress

WASHINGTON (AP) – Weary after a year of partisan bickering, lawmakers tried Monday to wrap up a sprawling $1 trillion-plus spending bill that chips away at military and environmental spending but denies conservatives many of the policy changes they wanted on social issues, government regulations and health care.

Fed Nearing a Plan to Clarify Direction of Rates

WASHINGTON (AP) – The Federal Reserve under Ben Bernanke has gone further than ever to explain its policies to the public. It's ready to go further still.

Independent Study: Gingrich Tax Plan Would Worsen Deficit

WASHINGTON (AP) – A new independent study says the tax plan by GOP presidential hopeful Newt Gingrich would provide big tax breaks to the rich and blow a huge hole in the federal budget deficit.

REAL ESTATE

Federal Report: Home Flipping Drove Housing Bubble

LAS VEGAS (AP) – A new federal report shows that speculative real estate investors played a larger role than originally thought in driving the housing bubble that led to record foreclosures and sent economies plummeting in Nevada, California, Arizona, Florida and other states.

HEALTH CARE

Medtronic to Pay $23.5M to Settle Kickback Claims

MINNEAPOLIS (AP) Medtronic Inc., the world's largest maker of medical devices, has agreed to pay $23.5 million to settle allegations that it paid kickbacks to doctors to implant its pacemakers and defibrillators, the U.S. Justice Department said Monday.

SPORTS

Grizzlies, Gasol Reach Tentative Deal

MEMPHIS (AP) – Marc Gasol announced on Twitter that he has reached a tentative agreement with the Grizzlies keeping him in Memphis.

Tigers Drop From Top 25 Basketball Rankings

Jim Boeheim has been coaching for 35 years and one thing he has learned is that players are able to focus on basketball even when there is a whirlwind around them.

Grizzlies Sign G Josh Selby, G Jeremy Pargo

MEMPHIS (AP) – The Memphis Grizzlies have signed second-round draft pick Josh Selby and free agent Jeremy Pargo.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 75 255 11,693
MORTGAGES 72 295 15,274
FORECLOSURE NOTICES 3 71 2,982
BUILDING PERMITS 198 590 27,844
BANKRUPTCIES 62 280 11,242
BUSINESS LICENSES 35 98 4,136
UTILITY CONNECTIONS 94 516 17,000
MARRIAGE LICENSES 18 80 3,544

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