VOL. 126 | NO. 251 | Monday, December 26, 2011
Much of the news that came out of the local banking and financial services sectors in 2011 fell into one of three buckets.
CRE professionals wading through painful market decline
In the words of Phil Woodard, an owner of multiple residential and commercial properties in Downtown Memphis, breaking even is the new profit.
When Shara Karasic got the urge to go walking in Memphis during a recent trip for a friend’s wedding, she reached for her trusted travel guide – her mobile phone.
SMALL BUSINESS SPOTLIGHT
Over the past seven years, Cagenix Inc. has grown from a research and development startup to a successful maker of new devices for dental implants that are sold to dentists and dental labs across the country.
REAL ESTATE RECAP
Property on Holmes Road, Memphis, TN 38109 -
Renasant Bank has bought back three parcels on Holmes Road at a foreclosure sale for $1.6 million after former owner HBT Investments LLC defaulted on a $4.8 million loan through the bank. The substitute trustee for the sale was John B. Philip.
Last week we focused on the recent public unveiling of the Memphis Police Department Fallen Officer Memorial, which honors the MPD officers who have lost their lives in the line of duty and the families and friends they leave behind. This week, as we start closing the book on 2011 and begin forming resolutions for 2012, let us consider a simple action that could have a profound impact on others around us and our community, as a whole.
It is a great time of year for renewals. Thinking of new things to do, new ways to do old things, recommitting to things undone and so forth and so on. As some say this time of year, “Out with the old, in with the new.”
THE MEMPHIS NEWS
City Council approves Loeb’s plan for renovating entertainment district
Memphis City Council’s approval for spending $16 million to improve Midtown’s Overton Square marked a milestone for neighborhood supporters, grassroots leaders and financial stakeholders – especially Loeb Properties Inc.
If the kids are pinging off the walls after a long winter holiday school vacation, Bartlett Performing Arts and Conference Center would like to put their excess energy to good use.
On Thanksgiving Eve, we drove to the airport to pick up my stepson, one of whose flights had been delayed, so it was after 10 by the time he emerged from baggage claim. All being hungry, I drove to Cooper-Young, thinking we could easily get in at the recently opened Alchemy at 10:30.
This is one of those occasions on which I recommend a wine one vintage behind the current release. That is, the Bandwagon Chardonnay 2010, Monterey County, has been issued, but the rendition from 2009 is what’s available in our market, and it’s delightful.
NASHVILLE (AP) – Raising Tennessee's estate tax exemption by $500,000 would cost the state about $23 million in lost revenues, according to projections by Gov. Bill Haslam's administration.
WASHINGTON (AP) – Consumers spent at a lackluster rate in November as their incomes barely grew, suggesting that Americans may struggle to keep spending more into 2012.
WASHINGTON (AP) – Companies' demand for long-lasting manufactured goods rose by the largest amount in four months in November, driven by a jump in orders for planes.
WASHINGTON (AP) – After weeks of bickering and doubt, Congress delivered a last-minute holiday tax cut extension to 160 million workers Friday along with further unemployment benefits for millions laid off in the nation's fierce recession and weak economic recovery. It was a convincing victory for President Barack Obama, a humbling retreat for House Republicans.
WASHINGTON (AP) – Americans bought slightly more new homes in November, but 2011 will likely end up as the worst year for sales in history.
WASHINGTON (AP) – After yet another disappointing loss, Memphis coach Josh Pastner decided it was time for a long, long talk with his team.
NASHVILLE (AP) – With all the AFC's playoff scenarios, the math is simple for the Tennessee Titans.