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VOL. 126 | NO. 226 | Friday, November 18, 2011

ServiceMaster’s Q3 Revenues Up 1.3 Pct.

Hank Mullany has a pretty basic mission statement and set of guiding principles for The ServiceMaster Co., the Memphis-based home- and commercial-services company he took the helm of earlier this year as CEO.

Advancing Vet Care

IDEXX Laboratories completes $13.5M expansion

IDEXX Laboratories Inc. has completed a $13.5 million expansion of its Memphis reference laboratory and distribution center at 6100 E. Shelby Drive.

Arlington Pet Hospital Files $1.2M Permit For Expansion

Construction plans for a new stand-alone space for a growing Arlington veterinary clinic are under way near its current shopping center space.

Impact Innovations Plans Gift Wrap Facility in Memphis

Minnesota-based Impact Innovations Inc. has applied for a tax break to help it set up a major gift wrap production facility in Memphis.

Rapid Transit Service Could be Turning Point for MATA

At the long-awaited opening of the Memphis Area Transit Authority’s Airways Transit Center last week, MATA general manager Will Hudson told the crowd gathered in the new center at Brooks Road and Airways Boulevard to remember three initials – BRT.

Local Weather
Today
Memphis, TN
60°F
Cloudy
Wind: 15 mph
Humidity: 83%

EVENTS

The Memphis College of Art will hold its 62nd annual Holiday Bazaar art sale Friday, Nov. 18, from 6 p.m. to 9 p.m.; and Saturday, Nov. 19, from 10 a.m. to 5 p.m. in the Main and Lower Gallery of the college, 1930 Poplar Ave. Admission Friday and Saturday is free. All proceeds will benefit MCA’s scholarship fund. For more information, call 272-5100 or visit www.mca.edu.

more events »

Perl Re-Elected As MSCAA Chair

The Memphis-Shelby County Airport Authority re-elected its chairman and awarded two contracts Thursday, Nov. 17, at its monthly board of commissioners meeting.

MEMPHIS STANDOUT

Throckmorton Ready For Changing Role at St. Mary’s

When the announcement was made during a chapel session to the St. Mary’s Episcopal School student body in mid-October that Albert Throckmorton would be the new head of school, applause broke out once the first syllable of his name was announced.

SPORTS

Tigers Ace First Test, Take Talents to Maui

Every season has a first game. But this was not a perfunctory tip to an ordinary season. This one felt different, felt like the first act of a play that could have the ultimate, dramatic, ending.

Giving Thanks For Those Not On SportsCenter

Coach. The word used to carry hard-won reverence. Coach. Not just anyone deserves to hear that word used before their name.

LOCAL COLUMNISTS

U of M Needs To Grow Some Claws

IF THIS IS YOUR JUNGLE, ACT LIKE A TIGER. Statistics show that the people who could help the University of Memphis compete, even win, aren’t even in the game. And I’m not talking football.

Addressing Factors That Cause Nonprofit Fatigue

We’re all human. We get tired, lose focus and experience fatigue. Sometimes we can’t name what we are experiencing. We find it difficult to refocus, reenergize and – if needed – reinvent. When this occurs within a nonprofit we refer to it as “nonprofit fatigue.”

MEMPHIS AREA

Gunman Fatally Shoots Himself at Illinois FedEx Center

BEDFORD PARK, Ill. (AP) – A gunman walked into a Chicago-area FedEx shipping facility Thursday morning yelling for his wife, then fired several shots that sent panicked employees fleeing before he fatally shot himself, police said.

STATEWIDE

State Aeronautics Division has New Director

NASHVILLE (AP) – The aeronautics division of the Tennessee Department of Transportation has a new director.

TVA Board Votes No 2012 Increase in Executive Pay

CHATTANOOGA (AP) – The Tennessee Valley Authority board has voted to continue a freeze on executive pay for fiscal 2012, including President and CEO Tom Kilgore's base pay and performance incentives in a compensation package that will again exceed $3.5 million.

UT Coach Pat Summitt Recipient of AARP Inspire Award

KNOXVILLE (AP) – Tennessee's Pat Summitt is among a dozen recipients of AARP The Magazine's Inspire Awards in the wake of the coach's announcement that she has dementia.

UT Solar House to Travel Across Tenn.

KNOXVILLE (AP) – The University of Tennessee's solar-powered house will travel across the state, beginning with an exhibition for the public Saturday in Knoxville to coincide with the UT-Vanderbilt football game.

REGIONAL

Toyota Celebrates Production Start at New US Plant

BLUE SPRINGS, Miss. (AP) – Toyota celebrated the start of Corolla production at its newest U.S. auto plant Thursday after a lengthy delay that the car maker blamed on a weak economy.

NATIONAL BUSINESS

Unemployment Applications Drop

WASHINGTON (AP) – The number of people applying for unemployment benefits fell last week to the lowest level since early April, a sign that layoffs are easing and hiring may pick up.

Sears Q3 Loss Widens on Softness in Canada

NEW YORK (AP)Sears Holdings Corp. turned in a wider-than-expected loss in its third-quarter, dragged down by weakness in Canada, declining consumer electronics sales and softer clothing sales at its Kmart stores.

Target's Q3 Profits Up 3.7 Percent

NEW YORK (AP) – Target is the latest company to learn the new retailing reality: If you discount it, they will come.

Thanksgiving Travel Expected to Jump 4 Percent

NEW YORK (AP) – This Thanksgiving, 42.5 million people in the United States are expected to hit the road to visit family and friends – the highest number of holiday travelers since the start of the recession.

Walmart's Special on Credit Cards has Fine Print

NEW YORK (AP) – Special financing for the next six months!

Why That Corporate Cash Pile Isn't So Impressive

NEW YORK (AP) – Hardly a day goes by without a politician or pundit pointing out that companies are hoarding cash – roughly $3 trillion – and that they could help the economy if only they'd spend it.

NATIONAL POLITICS

House Sets Friday Vote on Balanced Budget Proposal

WASHINGTON (AP) – With the federal government racking up deficits of more than $1 trillion a year and lawmakers paralyzed by political differences, the House on Thursday is taking up a proposed constitutional amendment that would force Congress to balance its budget.

A GOP Debt Plan Would Hit Some Popular Tax Breaks

WASHINGTON (AP) – Millions of taxpayers who take advantage of deductions for mortgage interest, charitable donations and state and local taxes would be targeted for potential tax hikes under a GOP plan to raise taxes by $290 billion over the next decade to help reduce the nation's deficit.

Boehner: War Drawdown Savings Can't Go to Jobs

WASHINGTON (AP) – With a special deficit-reduction supercommittee floundering, the top Republican in Congress warned Thursday that he won't permit savings from winding down the wars in Iraq and Afghanistan to pay for President Barack Obama's jobs spending agenda.

Congress About to Kill High-Speed Train Program

WASHINGTON (AP) – Congress is on the verge of killing funding for President Barack Obama's signature high-speed rail program, but it may have some life in it still.

States Ramp Up Use of Teacher Evaluations

WASHINGTON (AP) – Teachers and principals are worrying more about their own report cards these days, and they're being graded on more than test scores.

REAL ESTATE

US Housing Starts Down Slightly in October

WASHINGTON (AP) – U.S. builders started slightly fewer homes in October but submitted plans for a wave of apartments, a mixed sign for the struggling housing market.

Rate on 30-Year Mortgage Ticks Up to 4 Percent

WASHINGTON (AP) – The average rate on the 30-year mortgage hovered above the record low for a third straight week. But cheap mortgage rates have done little to boost home sales or refinancing.

HEALTH CARE

Bain Will Get Medtronic's Physio-Control for $487M

MINNEAPOLIS (AP) – Medtronic is selling its business that makes heart monitors and external defibrillators to Bain Capital for $487 million in cash, the company said Thursday.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 72 368 16,413
MORTGAGES 66 422 21,432
FORECLOSURE NOTICES 15 76 4,266
BUILDING PERMITS 176 877 39,378
BANKRUPTCIES 60 294 15,542
BUSINESS LICENSES 20 98 5,491
UTILITY CONNECTIONS 69 423 23,573
MARRIAGE LICENSES 17 95 5,035

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