VOL. 126 | NO. 247 | Tuesday, December 20, 2011
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.
Unused spaces turned into dog park, art space
The Downtown Memphis Commission and its staff are bringing an interior designer’s eye for reusability and for the possibilities that abound in vacant spaces to two new Downtown sites.
The Memphis City Council votes Tuesday, Dec. 20, on the redevelopment of Overton Square. At its last meeting of the year, the council will vote on a planned development for the south side of Madison Avenue at Cooper Street to be redeveloped by Loeb Properties Inc. The development includes a parking garage.
Vintage Homes LLC created its Home Buyers Connection program two years ago, and the company is forecasting 2012 to be its most successful year yet.
The White House nomination of Criminal Court Judge John Fowlkes to be a U.S. District Court judge would return Fowlkes to the building where he once worked as a federal prosecutor.
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.
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.
Men and women in blue were joined by friends, family and supporters at the Oak Court Mall, 4465 Poplar Ave., Friday, Dec. 16, for the unveiling of the mockup of a Fallen Officer Memorial that will honor the Memphis Police Department officers who have given their lives in the line of duty.
GOVERNMENT AGENDA
The Memphis City Council will meet Tuesday, Dec. 20, at 3:30 p.m. in the Council chambers in City Hall, 125 N. Main St. Click on the meeting icon for a full agenda.
REAL ESTATE RECAP
9135 U.S. 64 and 9225 U.S. 64 , Memphis, TN 38016 -
A joint venture between Merion Realty Partners and an affiliate of AllianceBernstein U.S. Real Estate Partners LP has bought Stonebridge Apartments from CMS Stonebridge LLC for $21.9 million as part of a 20-property multifamily portfolio purchase the companies announced in October.
LOCAL COLUMNISTS
Last week we discussed how building your sphere of influence is intertwined with community engagement. This week let us refocus on our May 16 column (“A Monument to Fallen Officers”) and provide some personal insight into the progression and recent public unveiling of the Memphis Police Department Fallen Officer Memorial.
The pendulum swings regarding Europe’s fate continue to relentlessly influence daily market direction. With the European debate drowning out all other market news, relevant economic releases and corporate earnings results have gone unheard. This week, let’s turn off the European pop and listen to some golden oldies.
NATIONAL BUSINESS
U.S. shoppers spent 15 percent more in online holiday buying compared to last year, after what may have been the busiest week of the season, said research firm comScore on Sunday.
STOCKHOLM (AP) – After six decades of building cars renowned for their teardrop designs and quirky features, cash-strapped Saab Automobile gave up its desperate struggle for a lifeline Monday and filed for bankruptcy.
NEW YORK (AP) – Groupon is thinking locally. The online deals site is offering a $10 credit to the first 150,000 people who purchase a local Groupon by Dec. 24.
NATIONAL GOVERNMENT
WASHINGTON (AP) – The Supreme Court announced Monday, Dec. 19, that it will use an unprecedented week’s worth of argument time in late March to decide the constitutionality of President Barack Obama’s historic health care overhaul before the 2012 presidential elections.
WASHINGTON (AP) – The House and Senate barreled toward a collision Monday over some of the chief ingredients of President Barack Obama's recipe for reviving the economy, with tax increases and jobless benefit cuts awaiting millions of Americans on New Year's Day if the dispute is not resolved.
REAL ESTATE
WASHINGTON (AP) – Rising interest from would-be buyers is leaving U.S. homebuilders less pessimistic about the housing market. But tighter lending standards are still keeping many potential buyers from purchasing new homes.
SPORTS
INDIANAPOLIS (AP) – Of all the losses they've had to the Indianapolis Colts, this had to be one of the toughest for the Tennessee Titans.