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VOL. 127 | NO. 75 | Tuesday, April 17, 2012

Q1 Mortgages Up 12 Percent

As the new year got under way, it didn’t look like Shelby County’s mortgage market was going to be ringing in 2012 with a bang.

March Mortgages Up 19 Percent

In terms of mortgage activity, the month of March mirrored the first quarter trend – things are picking up.

Rooftop Revelry

Downtown hotels launch yearly rooftop party series

The Peabody hotel is poised to join the Madison Hotel in launching its newest round of rooftop revelry this week, and the mission for this year’s shindigs is the same as always.

FedEx in Talks to Buy French Shipper

Memphis-based FedEx Corp. is in negotiations to buy Tatex, a 36-year-old French shipping company that focuses on heavy shipments of parts and technology across of France.

Awards Just One Facet Of Comm. Council

This year marks a decade of existence for the Memphis Area Association of Realtors’ Commercial Council, the trade organization for the commercial real estate profession and its related sectors.

Local Weather
Today
Memphis, TN
49°F
Mostly Cloudy
Wind: 5 mph
Humidity: 54%

EVENTS

The Greater Memphis Chamber will hold a lunch and learn Tuesday, April 17, from 11:30 a.m. to 1 p.m. at Baptist Memphis Education & Conference Center, 6027 Walnut Grove Road. Leadership Academy President and CEO Nancy Coffee will present “Effective Leadership, Effective Management.” Contact Amanda Edmundson at aedmundson@memphischamber.com or 543-3511.

more events »

Wharton Presents Budget to Council

Memphis Mayor A C Wharton Jr. takes his budget proposal to the Memphis City Council at the Tuesday, April 17, council session.

Westside School Looks for New Legacy

Bobby White knows how many people identify Westside Middle School. And it goes back to the school’s existence as a high school.

Vox Awards Honor City’s Best Storytellers

When Holden Potter, president of the Memphis Chapter of the Public Relations Society of America, was tasked with coming up with this year’s Vox Awards theme, he challenged the planning team to dwell on the realm of public relations and what professionals in the industry truly do for a living.

GOVERNMENT AGENDA

Memphis City Council Agenda

The Memphis City Council will meet Tuesday, April 17, 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.

REAL ESTATE RECAP

Colonnade at Germantown Sells for $23 Million

7491 Wyndhurst Place or 7455 Wolf River Blvd., Germantown, TN 38138 -
New York-based Sentinel Real Estate Corp., working under the name VA Germantown LLC, has bought The Colonnade at Germantown apartments for $23.1 million from DMARC 2006-CD2 Wyndhurst Place LLC, an entity affiliated with Miami-based special service lender LNR Partners LLC.

LOCAL COLUMNISTS

More Than A Taste of Jubilee

Last week we highlighted the Salvation Army, which is working everyday to fight hunger, homelessness, addiction, poverty and abuse here in the Mid-South. This week, let us discuss an organization that is educating children in urban areas of Memphis, affording them opportunities to learn, grow and succeed in a faith-based environment regardless of their socioeconomic status: the Jubilee Schools.

Reducing Fraud, Waste, Abuse

On March 21, 2012, Mayor A C Wharton Jr. took a step that will put the City of Memphis on the road to recovery by creating a fraud hotline to report fraud, waste and abuse and ethics violations. As long as those who investigate the complaints for Memphis conduct thorough all-encompassing investigations – the creation of the hotline will be a “game changer” for the city, its employees and the taxpayers.

NATIONAL BUSINESS

US Economic Outlook Brightens as Retail Sales Rise

WASHINGTON (AP) – Americans bought more electronics, started home improvement projects and updated their wardrobes last month, inspired by warmer weather and a healthier job market.

US Business Stockpiles Grew 0.6 Pct. in February

WASHINGTON (AP) – U.S. companies restocked at a steady pace in February, suggesting businesses are more hopeful about the economy's prospects this spring.

Aging Transit Systems Grapple With Repair Backlog

WASHINGTON (AP) – Driven by high gas prices and an uncertain economy, Americans are turning to trains and buses to get around in greater numbers than ever before. But the aging transit systems they're riding face an $80 billion maintenance backlog that jeopardizes service just when it's most in demand.

NATIONAL GOVERNMENT

GSA Executive Asserts Right to Remain Silent

WASHINGTON (AP) – The General Services Administration inspector general said Monday that he's investigating possible bribery and kickbacks in the agency, as a central figure in a GSA spending scandal asserted his right to remain silent at a congressional hearing.

HEALTH CARE

Big Gaps Found in Nursing Homes' Disaster Plans

WASHINGTON (AP) – Tornado, hurricane or flood, nursing homes are woefully unprepared to protect frail residents in a natural disaster, government investigators say.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 65 366 17,721
MORTGAGES 70 417 23,068
FORECLOSURE NOTICES 15 91 4,519
BUILDING PERMITS 210 932 42,157
BANKRUPTCIES 62 299 16,691
BUSINESS LICENSES 19 80 5,781
UTILITY CONNECTIONS 49 305 25,174
MARRIAGE LICENSES 16 96 5,381

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