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VOL. 126 | NO. 251 | Monday, December 26, 2011

Key Storylines Emerge in 2011 Banking

Much of the news that came out of the local banking and financial services sectors in 2011 fell into one of three buckets.

Prolonged Recession

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.

Going Mobile: Travel Apps Promote City

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

Cagenix Grows From Startup To Successful Manufacturer

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.

Local Weather
Today
Memphis, TN
44°F
Partly Cloudy
Wind: 0 mph
Humidity: 63%

EVENTS

The Memphis Bar Association Young Lawyers Division will present “Legal Ethics in the Movies” with speaker Mike McLaren of Black McLaren Jones Ryland & Griffee PC and special guest U.S. Magistrate Judge Diane Vescovo Dec. 28 from 3 p.m. to 5 p.m. in the auditorium at Memphis Bioworks Foundation, 20 Dudley St. For more information or to register, visit www.memphisbar.org.

more events »

REAL ESTATE RECAP

Holmes Road Acreage, Lots Sell for $1.6M in Foreclosure

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.

LOCAL COLUMNISTS

Creating A Recognition Resolution

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.

Toss ‘Dented Stereos’ Before 2012 Begins

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

Beyond Square One

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.

Kids Take Center Stage with Circus

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.

Changes in Dining Scene Highlight Dynamic Year

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.

Bandwagon’s ’09 Chardonnay Better Choice Than its ’10

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.

STATE GOVERNMENT

Haslam Wants to Put Off Estate Tax Cut Over Cost

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.

NATIONAL BUSINESS

Spending and Incomes Show Weak November Gains

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.

Durable Goods Orders Up, But Core Demand is Weak

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.

NATIONAL GOVERNMENT

Tax Cut Lives: Congress Gives Last-Minute Approval

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.

REAL ESTATE

New-Home Sales Up in Nov. But 2011 Figures Dismal

WASHINGTON (AP) – Americans bought slightly more new homes in November, but 2011 will likely end up as the worst year for sales in history.

SPORTS

Memphis has Long Team Meeting After Loss to Hoyas

WASHINGTON (AP) – After yet another disappointing loss, Memphis coach Josh Pastner decided it was time for a long, long talk with his team.

Jaguars Try to Spoil Titans' Must-Win Situation

NASHVILLE (AP) – With all the AFC's playoff scenarios, the math is simple for the Tennessee Titans.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 72 206 16,619
MORTGAGES 84 228 21,660
FORECLOSURE NOTICES 21 56 4,322
BUILDING PERMITS 0 209 39,587
BANKRUPTCIES 73 222 15,764
BUSINESS LICENSES 23 51 5,542
UTILITY CONNECTIONS 86 287 23,860
MARRIAGE LICENSES 21 72 5,107

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