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VOL. 126 | NO. 12 | Wednesday, January 19, 2011

Second Phase of Bike Plan Kicks Off

The second phase of the Memphis Metropolitan Planning Organization (MPO)’s Regional Bicycle and Pedestrian Plan begins Wednesday with opportunities for public input.

Up and Down

Delta posts mixed results for Q4, 2010

Delta Air Lines Inc. reported a $158 million fourth-quarter profit Tuesday, a lower-than-expected number due to the December snowstorms.

Electrolux Incentives and EDGE Framework Clear Committee

A vice president of Electrolux Home Products Inc. on a two-day tour of city and county governments got a few questions from Shelby County commissioners Wednesday but mostly glowing comments during a committee session.

MCS Board Votes Down Schools Standoff Compromise

The Memphis City Schools (MCS) board voted down a compromise proposal Tuesday from Shelby County School officials.

All Eyes on First Horizon in Advance of Q4 Report

The consensus estimate of how First Tennessee Bank’s parent company fared in the fourth quarter is that it dipped back into the red following two straight quarterly profits.

Local Weather
Today
Memphis, TN
40°F
Cloudy
Wind: 13 mph
Humidity: 63%

EVENTS

The Alliance for Nonprofit Excellence will hold a workshop Wednesday from 8:30 a.m. to noon at its office, 5100 Poplar Ave., Suite 502. Participants will learn strategies for succession planning to prepare them for short-term and long-term leadership transitions. Cost is $60 for members, $110 for nonmembers and $55 for those in the Program for Nonprofit Excellence. For more information, call 684-6605 or visit www.npexcellence.org.

more events »

New Fairgrounds Plan Would Demolish Coliseum, Build Stores

Memphis Mayor A C Wharton Jr. has outlined a $185 million plan for redevelopment of the Mid-South Fairgrounds.

Political Debate on Schools Broadens

Shelby County election commissioners meet Wednesday for the second time this month to consider a special referendum election on a Memphis City Schools charter surrender.

Report: PR Industry on Track for Employment Growth

Public relations is on track to becoming one of the nation’s fastest-growing professions, with a 24 percent rise in employment predicted by 2018, according to a recent New York Times report.

Gibson Honored as Part of ‘30 Under 30’ List

Andre Gibson, chair of the Memphis City Beautiful Commission and vice president of the Memphis Urban League Young Professionals, has been named among Rosewood Hotels’ national 30 Under 30 campaign.

Getting Guerrilla With Facebook

So you have a Facebook page for your company. Now what?

‘Expansion’ Ascent Just Beginning

From Recovery to Expansion As we navigate the mid-section of the current advance, our analysis will benefit from differentiating dynamics associated with “recovery” and dynamics associated with “expansion.” To clarify this assignment, consider that although the S&P 500 remains 20 percent below its all-time high and is therefore still advancing in “recovery,” the S&P 400 Mid Cap Index has now reclaimed its all-time high and is therefore now advancing into “expansion.” Economically, the USA peaked in the 2nd quarter of 2007 with real GDP of $13.36 trillion and closed the third quarter of 2010 at $13.28 trillion. While still technically in “recovery,” the U.S. economy will soon claim “expansion.” As we close in on this pivotal moment, the risk profiles change. The risks we have all grown accustomed to recede and new threats emerge.

MEMPHIS AREA

FedEx Adding Capacity in Georgia

NORCROSS, Ga. (AP) — FedEx Ground says it needs more shipping capacity in the Atlanta market and will start construction on a new distribution center in Norcross.

STATEWIDE

Wamp Says His New Consulting Firm Has Federal Ties

OAK RIDGE, Tenn. (AP) — Former Republican U.S. Rep. Zach Wamp is starting a consulting firm and his clients will include national companies with federal contracts and operations at Oak Ridge, in the district he represented.

NATIONAL BUSINESS

Cargill to Divest Itself of Stake in Mosaic Co.

MINNEAPOLIS (AP) — Agribusiness conglomerate Cargill Inc. will distribute its 64 percent stake in fertilizer maker Mosaic Co. to Cargill stakeholders and debt holders in an effort to boost Cargill's credit profile and keep it a private company.

Investors' Return to US Stocks Could be too Late

BOSTON (AP) — Investors are finally inching back into the stock market. But are they too late?

Obama Orders Review of Rules to Boost Economy

WASHINGTON (AP) — President Barack Obama, in another move to smooth frayed ties with corporate America, ordered a far-reaching review of federal regulations Tuesday with the goal of weeding out rules that hurt job growth and creation. Republicans and business groups welcomed the step but suggested he do even more.

REAL ESTATE

Homebuilder Sentiment Index Unchanged in January

LOS ANGELES (AP) – U.S. homebuilders remain discouraged over the prospects for improved home sales in the months ahead, unconvinced as yet that the economy will spur the kind of job growth needed to coax more buyers into the market.

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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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