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VOL. 126 | NO. 50 | Monday, March 14, 2011

Memphis Defense Depot Slated for Sale

Memphis Defense Depot – the 4.2 million-square-foot industrial park and former Army base just north of Memphis International Airport – is back on the market.

Body and Soul

Calvary’s Waffle Shop aims to feed physical, spiritual needs

From now through April 15, a cross-section of Memphians will pour into Calvary Episcopal Church each weekday at lunchtime to nourish their bodies with warm, home-cooked meals and their souls with the word of God and the fellowship of neighbors.

Pinnacle's Trenary to Resign March 24

Pinnacle Airlines Corp. CEO Phil Trenary has announced his resignation effective March 24 to pursue “other interests outside the company,” according to a Pinnacle written statement released Monday afternoon.

Gov. Haslam to Present 1st Tenn. Budget Proposal

NASHVILLE (AP) – Tennessee Gov. Bill Haslam is preparing to present his first state budget plan to Tennessee lawmakers Monday evening.

FedEx Express Bans East Japan Shipments

Memphis-based FedEx announced this week it will continue a ban on accepting FedEx Express shipments this week for eastern Japan from any location, citing “the instability of infrastructure including transportation, power and fuel, pickup and delivery services” in the wake of last week’s earthquake and tsunami.

Analyst Maintains 'Buy' Rating on FedEx Shares

NEW YORK (AP)A Deutsche Bank analyst reiterated his "Buy" rating on shares of FedEx Corp. on Monday, saying the company will likely continue to see strong earnings growth this year despite the impact of increasing fuel prices.

Gus’s Chicken Empire will Expand to E. Memphis

One of Memphis’ most celebrated fried chicken eateries is in the pipeline for a long-time vacant East Memphis parcel.

MATCU Back in Black With $6M Profit

After two straight years of reporting a loss, the city’s largest credit union is back in the black.

Grant Encourages Food Stamps at Markets

Farmers markets throughout Shelby County have no trouble attracting middle- and upper-class patrons who are health-conscious, but this year the push is to bring poorer populations to the table.

French Delegation Looks to Memphis for Biz Strategy

A trio of visitors to Memphis from France last week spiced their conversation with words instantly familiar to a group of Memphians working to promote the medical and biosciences sector of the Memphis economy.

Spirco Adapts to Changing Economy

Barry Sims is the president of Metal Building Products Inc., which offers metal building items along with contracting services to Memphis and the Mid-South area.

Mid-America Apartment Communities REIT Rebrands as MAA

In efforts to deploy capital and better its operating platform, Memphis-based real estate investment trust Mid-America Apartment Communities Inc. has announced it will be conducting business as MAA.

FedEx Reacts To Japan Quakes

Memphis-based FedEx has suspended package pickup and deliveries in East Japan in the wake of Friday’s earthquakes and tsunami.

The Perfect Title for a Business Book

Business book titles today are frequently one word. There is “Switch,” “Fish,” “Rework,” “E Myth.” This could be because one word is the most tweetable or textable or is all anyone can remember.

Changing Lives With Books

Last week we discussed how Memphis Urban Young Life is stepping into local high schools to offer support to youth that need it most.

THE MEMPHIS NEWS

Next Moves

The two tracks to schools consolidation are about to cross now that Memphis voters have settled the consolidation referendum that is the mainline for the journey to one public school system in Shelby County.

Political Saga Didn’t End With Schools Referendum

Memphis voters made the call last week on a roiling political controversy whose ground rules changed during the early voting period.

Political Wrangling Shouldn’t Cloud Issues

The votes have been counted. Now the real decisions are about to be made.

Life is a ‘Cabaret’ for Actress Thompson

Like the character Christine in “Phantom of the Opera,” Cassie Thompson started out as a chorus girl.

Food Prices Pose Challenge to Chefs, Customers Alike

Here’s the bad news: According to a report issued late in January by the Economic Research Service of the U.S. Department of Agriculture, food prices will increase 3 to 4 percent in 2011.

Chardonnay Delivers Taste, Body, Balance

If I tell you that I’m going to recommend a California chardonnay from 2007, you might respond by saying, “Um, FK, isn’t that a little old for a chardonnay? I mean, we’re going into 2011 here.”

NATIONAL BUSINESS

Retail Sales Up 1 Percent in February

WASHINGTON (AP) — American shoppers snapped up new cars, clothing and electronics in February, pushing retail sales up for the eighth straight month.

Government Job Openings Plunge in January

WASHINGTON (AP) – Governments advertised far fewer jobs in January, offering the latest sign that cuts at the state and local level could slow hiring this year.

Airfares are Going Up, and Not Just Because of Oil

Airlines have used surging oil prices to justify fare increases of up to $60 per ticket since the start of the year. But the rising cost of fuel isn't the only reason it's getting more difficult to find cheap fares.

Business Inventories and Sales Rise in January

WASHINGTON (AP) – Businesses added to their stockpiles in January for a 13th consecutive month and total sales rose by the largest amount in 10 months.

NATIONAL POLITICS

Obama Prepared to Tap Petroleum Reserve if Needed

WASHINGTON (AP) – President Barack Obama said Friday he's prepared to tap the country's emergency oil reserve should the situation demand it. But as gas prices climbed toward $4 a gallon, the president said the U.S. must adopt a long-term strategy of conservation and domestic production to wean itself off foreign oil.

House Votes to End Emergency Mortgage Aid

WASHINGTON (AP) – The House has voted to end a program designed to give federal loans to homeowners who can't make mortgage payments because they've lost their jobs or become ill.

Unions Frame Bargaining as Civil Rights Issue

WASHINGTON (AP) – Labor unions at the heart of a burning national disagreement over the cost of public employees want to frame the debate as a civil rights issue, an effort that may draw more sympathy to public workers being blamed for busting state budgets with generous pensions.

Republicans Planning Cost Curbs on Health Benefits

WASHINGTON (AP) – House Republicans will "lead with our chin" and offer politically explosive cost curbs this spring on programs like Medicare, Medicaid and perhaps Social Security, the party's point man for curbing crippling budget deficits said Thursday.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 75 255 11,693
MORTGAGES 72 295 15,274
FORECLOSURE NOTICES 3 71 2,982
BUILDING PERMITS 198 590 27,844
BANKRUPTCIES 62 280 11,242
BUSINESS LICENSES 35 98 4,136
UTILITY CONNECTIONS 94 516 17,000
MARRIAGE LICENSES 18 80 3,544

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