VOL. 126 | NO. 31 | Tuesday, February 15, 2011
In the past five years, real estate foreclosures have run the gamut from hospitality to retail to multifamily to high-end residential to industrial.
Memphis scores big project in $200M Mitsubishi plant
Mitsubishi Electric Power Products Inc. will build a $200 million, 350,000-square-foot facility in Memphis to serve as the headquarters of the company’s heavy electrical equipment production in North America, the company announced Monday.
Mitsubishi Electric Power Products Inc. has won a 15-year tax freeze from the Memphis-Shelby County Industrial Development Board for the manufacturing facility it’s developing at Rivergate Industrial Park.
Shelby County Commissioners added a bundle of resolutions Monday to the build up of schools consolidation preparations.
FedEx Corp. on Monday sharply cut its quarterly profit forecast, citing higher-than-expected fuel costs and severe winter weather that disrupted delivery operations in the U.S. and Europe.
Memphis City Council members have at least one other burning controversy besides the schools debate to consider at Tuesday’s meeting.
Two years before the next national election and with fervor for conservative activism, Memphis-based MPS Broadcasting Monday announced the launch of WMPS “The Point” simulcast on 87.7 FM and 1210 AM.
Feb. 14-20 is Random Acts of Kindness Week, and local do-gooders will be honored for their compassionate ways during the Memphis Celebration of Kindness, set to take place Thursday from 5:30 to 7:00 at Le Pavillon, 1052 Brookfield Road.
The city of Memphis is taking to the airwaves to reach the Spanish-speaking community. “Preguntas Reales, Respuestas Reales” is a monthly, Spanish-language program on Radio Ambiente.
Methodist University Hospital will unveil its new state-of-the-art Neurovascular and Cardiovascular Centers Tuesday with a 4 p.m. ribbon cutting.
If attorneys for Shelby County Schools can find a federal judge this week, they may be in court after early voting begins Wednesday in the schools consolidation referendum.
Twenty-four hours after Mitsubishi executives unveiled plans to build $200 million plant in Memphis that will manufacture electric transformers, the plans will go before the city-county Industrial Development Board to secure crucial tax incentives.
2601 N. Watkins St., Memphis, TN 38127, First Sale: $1.1 million -
A foreign investment group named Square Mile Investments LLC has bought Treasure Park Apartments at 2601 N. Watkins St. in Frayser from City National Bank for $450,000.
Below the Waterline
In 1962 psychologist Elias H. Porter wrote an essay titled “The Parable of the Spindle.” It pointed out that in many restaurants, cooks and chefs were considered higher status employees than waiters. Whether this was right or wrong was not the point. The point was that waiters were “giving orders” to the cooks and this was causing considerable tension. Problems also occurred because waiters often had to stand in line waiting for the cooks’ attention and cooks couldn’t always remember the incoming orders during busy periods. Someone came up with the idea of using a simple spindle, like you still see in many restaurant kitchens.
The Memphis City Council will meet today 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.
JACKSON, Miss. (AP) — Blues musician John Lee Hooker will honored with the 122nd marker on he Mississippi Blues Trail.
NEW YORK (AP) — The era of falling clothing prices is ending.
ATLANTA (AP) – SunTrust Banks Inc. announced Friday the retirement of two board and the nomination of one other.
DETROIT (AP) – General Motors Co. will pay more than $189 million in profit-sharing to 48,000 U.S. hourly workers and millions more in performance bonuses to salaried employees, according to company documents obtained by The Associated Press.
WASHINGTON (AP) – President Barack Obama sent Congress a $3.73 trillion budget Monday that holds out the prospect of eventually bringing deficits under control through spending cuts and tax increases. But the fiscal blueprint largely ignores his own deficit commission's plea to slash huge entitlement programs like Social Security and Medicare.
Airline travelers would pay more to help finance airport projects under President Barack Obama's budget plan.