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VOL. 126 | NO. 246 | Monday, December 19, 2011

Pinnacle Faces Falling Stock, Furloughs

New York-based investment firm Maxim Group LLC initiated coverage of the stock of Memphis-based Pinnacle Airlines Corp. on Monday with a “sell” rating, and in a note to clients said the company has a “high probability” of ending up in bankruptcy.

‘Get In and Out’

Companies find value in Memphis’ distressed properties

In a local commercial real estate market where prices have plunged as much as 40 percent from 2007 peaks, special service companies are taking advantage of opportunities for buying distressed debt.

Review of International Paper Acquisition Extended

MEMPHIS (AP) International Paper Co. said Monday, Dec. 19, that it reached a deal with the U.S. Department of Justice to extend the regulatory review period for its pending $3.7 billion acquisition of smaller rival Temple-Inland Inc. until Jan. 27.

Memphians Sue Delta for ‘Anti-Muslim Bigotry’

An Arabic-language professor at the University of Memphis and a Memphis-area Islamic religious leader have filed a lawsuit against Delta Air Lines Inc. and a partner airline over being kicked off a flight departing Memphis earlier this year.

District Lines on Tap for Commission

Five days is a long time in politics. That’s the gap between the Monday, Dec. 19, meeting of the Shelby County Commission and the special meeting of the commission last Wednesday.

Local Weather
Today
Memphis, TN
68°F
Partly Cloudy
Wind: 5 mph
Humidity: 55%

EVENTS

The Better Business Bureau of the Mid-South will continue its breakfast series with its Holiday Open House & Networking Party Tuesday, Dec. 20, from 7:30 a.m. to 9 a.m. at the BBB, 3693 Tyndale Drive. The party will include breakfast and informal networking. For reservations, contact Susan Harris at 757-8617 or sharris@bbbmidsouth.org.

more events »

Metropolitan Expands Into Nashville

Metropolitan Bank has solidified its long-planned foray into Nashville with the announcement of its first office location in the city and the hiring of a senior managing director for the Nashville area.

Plough Foundation Makes $1.5M Pledge To Overton Park Conservancy

The Plough Foundation will put up $1.5 million over five years toward improvements to Overton Park and operations of the Midtown park by the Overton Park Conservancy.

FedEx Group Gives Big to Child Advocacy Center

Back in August, the Memphis Child Advocacy Center, which serves Shelby County children who are victims of severe physical and sexual abuse, put out a plea to the community to donate teddy bears for its then-empty wall of bears.

Community Fdtn. Awards $330K to Nonprofits

The Community Foundation of Greater Memphis has awarded $329,338 in grants, most of it to help 20 nonprofits upgrade their technology and make other internal improvements to their organizations.

West Tenn. Solar Farm Connects to Chickasaw Electric

The West Tennessee Solar Farm in Haywood County is connected to the Chickasaw Electric Cooperative, a milestone in the development of the solar array bordering Interstate 40 that will generate 4.5 megawatts of electricity.

Election Commission Website Causes Confusion

The information was there somewhere on the www.shelbyvote.com website, Shelby County Election Commission staffers insist.

Sumlin: Remembering a Memphis Musical Great

Recent headlines shouted “Chicago Blues Great Hubert Sumlin Dies at 80.” The stories released about the death of Hubert Sumlin were almost correct, but the headlines should have read “Memphis Guitar Great Hubert Sumlin Dies.”

GOVERNMENT AGENDA

Shelby County Commission Agenda

The Shelby County Commission will meet Monday, Dec. 5, at 1:30 p.m. in the Shelby County Administration Building, 160 N. Main St. Click on the meeting icon for a full agenda.

SMALL BUSINESS SPOTLIGHT

TNC Sports Expands Product Mix, Space

Part of the experience that often goes hand in hand with packing ballparks and swarming stadiums to watch two sports teams clash is the need to keep some memento of the occasion.

LOCAL COLUMNISTS

Holidays Perfect Chance To Assess ‘Family Tapes’

When I was young, neighborhood friends and I would get together to play football, baseball or other games. Often we would play all day, and sometimes we would still be playing when dinnertime rolled around.

Grizz Keep Roster Intact While Watching Funds

It wasn’t all that long ago that virtually every deal the Memphis Grizzlies did was tagged with the phrase “financial considerations.” And when queried why the Grizzlies did a particular deal, Vice President of Basketball Operations/General Manager Chris Wallace answered, “cap space” – as in, room beneath the NBA’s salary cap to make further personnel moves.

THE MEMPHIS NEWS

Touch and Go

High fares, fewer flights, lost business undermine airport’s changing facade

In the aviation industry, Memphis International Airport is considered a fortress hub, an airport where a single airline – in Memphis’ case, Delta Air Lines Inc. – handles 70 percent or more of the passenger flights.

Unfriendly Skies Looming at MEM

For all the improvements at Memphis International Airport – most notably the air-traffic control tower that just opened and the ground transportation center under construction – the picture inside MEM isn’t as uplifting.

TSC Takes Step Away from the Bard

Tennessee Shakespeare Co. will celebrate the holidays by proving that it’s not a one-horse rodeo.

Skunx Chef’s Pub Latest C-Y Eatery

Duncan Aiken has loved pizza his whole life, though pizza, as he has found out, can be a harsh mistress. It took years to develop a recipe for the kind of crust he favors, years of studying, traveling, working and, of course, eating.

Some Big Taste Found in Small Calif. Winery Cimerone

The small production wines of Cimerone Vineyards are available in limited quantities in a few states and by mail order only in California, and the winery does not offer a tasting-room. Pretty exclusive stuff, but because of a friendship between owners Roger and Priscilla Higgins and a local wine retailer, some cases of the Cimerone wines can be found in Memphis.

MEMPHIS AREA

2 Centuries After New Madrid Quakes, What's Next?

MEMPHIS (AP) – The United States was still a young nation when three major earthquakes rocked the central Mississippi River valley in the winter of 1811-1812.

STATE GOVERNMENT

State Hired Executive Who was Under Indictment

NASHVILLE (AP) – An administrator of the state's employment security system was appointed to the post while under indictment in Ohio.

NATIONAL BUSINESS

Consumer Prices Were Unchanged in November

WASHINGTON (AP) – Consumer prices stayed flat in November, further evidence that inflation has cooled off.

Delta Announces Big LaGuardia Expansion

NEW YORK (AP)Delta Air Lines Inc. is boosting its flying out of New York's LaGuardia airport, adding routes that target American Airlines and put it in a better position to compete against United.

NATIONAL GOVERNMENT

States Unlikely to Heed NTSB Call for Cell Ban

ST. LOUIS (AP) – Lawmakers in Missouri had the chance, after two buses packed with high school band members slammed into a freeway wreck caused by a teenager who was sending a flurry of text messages, to impose tougher limits on driver cellphone use. It got filibustered.

House Passes $1T Budget Bill, Avoids Shutdown

WASHINGTON (AP) – The House has passed a $1 trillion-plus catchall budget bill paying for day-to-day operations of 10 Cabinet departments and averting a government shutdown, while Senate talks on renewing a payroll tax cut and jobless benefits reached a critical phase.

Congress Delays Light Bulb Law

WASHINGTON (AP) – Republicans in the U.S. Congress are flipping the dimmer switch on a law that sets new energy-savings standards for light bulbs.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 87 87 14,804
MORTGAGES 80 80 19,410
FORECLOSURE NOTICES 22 22 3,817
BUILDING PERMITS 142 142 35,472
BANKRUPTCIES 62 62 14,096
BUSINESS LICENSES 62 62 5,053
UTILITY CONNECTIONS 99 99 21,532
MARRIAGE LICENSES 37 37 4,594

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