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VOL. 126 | NO. 29 | Friday, February 11, 2011

Haslam Signs Schools Consolidation Bill

Tennessee Gov. Bill Haslam has signed the schools consolidation bill into law.

Gone Cold

Winter weather stymies local businesses’ bottom lines

School children welcomed Jack Frost on Wednesday afternoon and the three to five inches of snow he brought with him, but for business owners, the snow that caused hazardous road conditions and closures across the city also caused dollar signs to melt like icicles in the sun.

Wright Medical Posts Strong Fourth Quarter Sales, Income

Wright Medical Group, Inc. Thursday reported increased net sales and net income for the fourth quarter ended Dec. 31.

House Approves School Consolidation Bill

The Tennessee state House approved the schools consolidation bill Thursday on a 64-31 vote, now sending the legislation to the desk of Gov. Bill Haslam.

Wharton and Haslam React To Schools Legislation

Memphis Mayor A C Wharton Jr. reacted angrily Thursday evening to the state House vote earlier in the day approving school consolidation legislation.

Local Weather
Today
Memphis, TN
82°F
Partly Cloudy
Wind: 9 mph
Humidity: 67%

EVENTS

The University of Memphis Law Review will host a symposium titled “Memphis in the Law” Friday from 9 a.m. to 5 p.m. at the Cecil C. Humphreys School of Law, 1 N. Front St. Registration is $235 for persons seeking continuing legal education credit. For more information or to register, call 489-0150 or visit www.memphis.edu/lawreview/symposium.php.

more events »

Pilots Union Endorses FedEx Labor Pact

A group of 4,500 FedEx pilots begin voting Feb. 25 on a new, one-year labor agreement between the Memphis-based company and the Air Line Pilots Association.

Early Schools Federal Court Challenge Rejected For Now

Even before the state House voted Thursday to approve schools consolidation legislation, there was a move to Memphis federal court to stop the legislation.

Family Dollar Signs 2 Leases for Stores

Family Dollar has signed a 12,000-square-foot lease at 2754 Lamar Ave. Shawn Massey, partner with The Shopping Center Group LLC, represented the tenant. Harold Blockman with Keller Williams Realty Inc. represented the landlord, Chong K and Dul S. Pae.

Medical Interpretation Field Small but Growing

In his 50s, Julio Cepeda left his career as a chemical engineer to embark on a new one using his increasingly valuable interpreting skills to help bridge communication gaps for the Memphis area’s growing Spanish-speaking community.

MIFA Names New Executive Director

After a three-month search, the Metropolitan Inter-Faith Association has named Sally Jones Heinz as the organization’s new top executive.

FedEx Freight CFO Aims to Change LTL Structure

The chief financial officer of FedEx Freight Corp. wants to try to make the LTL (less than truckload) freight business more like the package business.

Stax’s Al Bell to be Recognized with Grammy Trustee Award

Al Bell is a recording industry legend, responsible for shaping Stax Records and more specifically, the careers of Booker T and the MG’s, The Staple Singers, Otis Redding, Carla Thomas, Rufus Thomas, Sam and Dave and The Bar-Kays, just to name a few.

Organizations Also Need to Plan for Change

Part One of a Two-Part Series

Power Trumps People

In the new math, 30 percent is more than 70 percent.

Fellow I know who worked for S.C. Toof & Co. back in the ‘60s told a good story about the use of power. Then the company was family owned and the largest printing operation around these parts. Mr. Toof fancied himself a broad-minded leader, open to suggestion and reform. The company’s leadership would meet weekly to discuss issues and vote on policy.

Unity, Plan Needed for Schools

The recent documentary concerning what ails public education in urban America, “Waiting for Superman,” observes there’s more concern about upsetting the adults than doing what’s necessary to educate their children.

MEMPHIS AREA

U.S. Foodservice to Stay in Hickory Hill

The Memphis division of U.S. Foodservice Inc. has agreed to stay in Hickory Hill and not move to Olive Branch, Miss.

STATEWIDE

Goodyear to Idle 1,900 Workers in NW Tenn. Shutdown

UNION CITY, Tenn. (AP) – Community leaders in northwest Tennessee say an announcement that Goodyear Tire and Rubber Co. will idle 1,900 workers in a shutdown of its Union City plant is a severe blow.

NATIONAL BUSINESS

Wholesale Businesses Boost Inventories in December

WASHINGTON (AP) – Businesses at the wholesale level added to their inventories in December at a healthy clip even though demand for their products slowed. The expectation is that rising demand from businesses will keep factories humming.

Fewest Requests for Unemployment Aid Since 2008

WASHINGTON (AP) – The number of people applying for unemployment benefits plunged last week to the lowest level in nearly three years, continuing a downward trend that suggests hiring could pick up this year.

Average Rate on 30-Year Mortgage Hits 5.05 Pct.

NEW YORK (AP) – The average rate on the 30-year mortgage topped 5 percent this week for the first time since April. Higher rates could further hamper the struggling housing market ahead of the spring's prime home-buying season

NATIONAL POLITICS

GOP Invites Business to Vent About Regulations

WASHINGTON (AP) – From large manufacturers to a small electric company, businesses complained about costly government rules Thursday at a forum provided by Republicans who are eager to slash federal regulations. Democrats protested that GOP lawmakers only wanted to hear about the burdens of regulation, not the benefits to public health and worker safety.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 32 344 10,222
MORTGAGES 52 452 13,327
FORECLOSURE NOTICES 30 106 2,644
BUILDING PERMITS 0 783 24,307
BANKRUPTCIES 60 359 9,892
BUSINESS LICENSES 23 133 3,736
UTILITY CONNECTIONS 76 595 14,558
MARRIAGE LICENSES 23 104 3,167

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