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VOL. 126 | NO. 18 | Thursday, January 27, 2011

Wharton Sets Stage for Budget Proposal

Memphis Mayor A C Wharton Jr. set the stage Thursday for a coming budget proposal that will include cuts in spending and reductions in services.

State of the Business

Biz reset could come following Obama’s address

For several Memphis business leaders, the tone and message of Tuesday night’s State of the Union speech reflected a president extending an olive branch to corporate America and hitting the reset button on a relationship that’s been noticeably strained for two years.

U of M's Ranta Named AdFed's Silver Medal Winner

Each year, members of the advertising profession select one of their own for the highest recognition the American Advertising Federation Memphis can give.

Forbes: Memphis Near Top for Retirement Bargains

In the past Memphis has been named in top 10 lists for murder, obesity, lack of education and lower standards of women’s health.

Orgs Embrace Technology Via Mobile Device Integration

When visitors entered Memphis Brooks Museum of Art’s Who Shot Rock & Roll exhibition last summer, they were handed an iPod Touch outfitted with an audio-guided tour of the exhibit’s iconic images.

Local Weather
Today
Memphis, TN
84°F
Partly Cloudy
Wind: 7 mph
Humidity: 47%

EVENTS

The Buckman Arts Center at St. Mary’s School will present a performance by Leon Redbone Thursday at 7 p.m. at Buckman, 60 Perkins Road Extended. Tickets are $35 for adults and $31.50 for students and seniors. For more information or tickets, call 537-1483 or visit www.buckmanartscenter.com.

more events »

Understanding Chinese Law Key to Biz There, Panel Says

Memphis companies and entrepreneurs hungry to enter new markets have a vast opportunity waiting for them in China, a land of more than one billion people who increasingly have money to burn.

Cash Reform Agenda Clashes With Referendum

Two years into an aggressive reform agenda for the Memphis City Schools system, MCS Superintendent Dr. Kriner Cash had a lot of points to cover on the next phase of that reform. But a lot of frustration came through as well this week.

Leadership Academy Luncheon Will Focus on Urban Education

The Leadership Academy on Thursday hosts the latest installment in its Celebrate What’s Right Luncheon series from noon to 1:30 p.m. at the Holiday Inn University of Memphis, 3700 Central Ave.

Hopson Provides MCS Legal Counsel

Being legal counsel for a school system is not for the faint of heart.

Walk a Mile in That Silo

Ray’s Take: At the corner of Forest Hill-Irene and Winchester roads, two silos stand side by side. Nothing connects them but the vines that grow rampant in summer’s heat.

Are You Well-Connected?

How successful are you when interacting with others? A brief lesson on open and closed systems could improve your potential to build stronger interpersonal connections. This, in turn, will help you build a successful business.

Use Puns, Name Change, Win Books

Words are the toys of a civilized world. Playing with them often results in good will and better friendships.

STATEWIDE

Haslam Outspends McWherter 5-to-1 in Gov's Race

NASHVILLE (AP) – Republican Bill Haslam spent five times as much as his Democratic rival Mike McWherter in the Tennessee governor's race.

Count of Children Affected by Methamphetamine Up

CHATTANOOGA (AP) – With meth lab busts up in Tennessee, records also show a substantial increase in the number of affected children, including the count of those abruptly taken into protective custody.

REGIONAL

Trustmark Nearly Doubles 4Q Profit

JACKSON, Miss. (AP) – Regional banker Trustmark Corp. said it nearly doubled its fourth-quarter profit from a year ago as the company recorded declines in bad loans and cut its exposure to Florida real estate problems.

REAL ESTATE

New-Home Sales in 2010 Fall to Lowest in 47 Years

WASHINGTON (AP) – Buyers purchased the fewest number of new homes last year on records going back 47 years.

NATIONAL BUSINESS

Valero Narrows 4Q Loss to $438M as Demand Improves

NEW YORK (AP)Valero Energy Corp. said Wednesday its fourth-quarter loss narrowed as demand for fuel and other refined petroleum products picked up.

General Motors Declares Quarterly Dividend

DETROIT (AP) – General Motors says its board is declaring a quarterly dividend of about 64.7 cents per share on its Series B mandatory convertible junior preferred stock.

Dow Breaks Through 12,000, First Time Since 2008

NEW YORK (AP) — The Dow Jones industrial average broke through 12,000 for the first time in two and half years Wednesday but edged lower in afternoon trading.

NATIONAL POLITICS

Obama Calls for New Era of Competitiveness

MANITOWOC, Wis. (AP) – President Barack Obama campaigned vigorously for his revamped economic message Wednesday, warning that other countries have been grasping for first place in the global marketplace as the U.S. fell down on the job.

Fed Says Economy Needs $600B Bond-Purchase Program

WASHINGTON (AP) – The Federal Reserve said Wednesday that the economy isn't growing fast enough to lower unemployment and must press ahead with its $600 billion Treasury bond-purchase program.

House: End Subsidies for White House Hopefuls

WASHINGTON (AP) – The House has voted to abolish the system of partial federal funding for presidential campaigns.

Gov't Official Says Future Bailouts not Necessary

WASHINGTON (AP) – A Treasury Department official said Wednesday that the financial regulatory law enacted last summer will help the government avoid future bailouts, deflecting criticism that those risks have grown since the financial crisis.

CBO: This Year's Budget Deficit to Hit $1.5T

WASHINGTON (AP) — A continuing weak economy and last month's bipartisan tax cut legislation will drive the government's deficit to a record $1.5 trillion this year, a new government estimate predicts.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 32 344 10,222
MORTGAGES 52 452 13,327
FORECLOSURE NOTICES 10 86 2,624
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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