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VOL. 127 | NO. 76 | Wednesday, April 18, 2012

First Horizon CEO Touts Strengths

Analysts are expecting the parent company of First Tennessee Bank to report a profit of 13 cents per share when it reports first quarter earnings Thursday.

Gaining Steam

Local homebuilding activity, sales slowly pick up

Local homebuilders filed 20 percent more new home permits during the first quarter compared with the same period last year, but industry experts say the market won’t see significant recovery until next year.

Wharton Budget Plan Includes Alternatives To 47 Cent Tax Hike

Memphis Mayor A C Wharton Jr. took a $628.3 million city operating budget proposal Tuesday, April 17 to the Memphis City Council with a 47-cent property tax hike proposed to meet the city’s obligation to fund Memphis City Schools.

March Permits Improve 47 Pct.

Last month proved to be a positive one for local homebuilding activity, with a 47 percent increase year over year in new home permits.

Pending Bill Could Raise Solar Taxes

The week that two solar farms located in Haywood County and Memphis were dedicated, a bill that would increase property taxes on owners of solar production facilities like the two arrays was undergoing more changes in Nashville and encountering increased opposition from the state’s solar industry.

Local Weather
Today
Memphis, TN
44°F
Cloudy
Wind: 3 mph
Humidity: 63%

EVENTS

The Memphis Area Transit Authority will hold customer-appreciation days Wednesday through Friday. Events will include discounts, snacks and gifts Wednesday and Thursday at the American Way Transit Center, North End Terminal and Airways Transit Center. MATA rides will be 25 cents all day Friday.

more events »

Volunteers Play Growing Role in Hospice Care

As the population ages, hospice and the volunteers who provide comfort and support to end-of-life patients and their families play a significant role in more lives.

MEMPHIS NEWSMAKERS

Cook Named Director At Memphis Farmers Mkt.

Allison Cook has been named market director at Memphis Farmers Market. Cook brings her marketing and business management experience to the position, and also has volunteered at the market and its Harvest Celebration fundraisers for three years.

LOCAL COLUMNISTS

Ready or Not, Facebook Timeline Here

All hail Facebook Timeline. Like it or not, the social media giant’s much anticipated design overhaul for individual users early this year has now been applied to all business pages, too.

Steering Through Muddied Waters

The Flows Knows While rationality has returned to the markets, occasional bouts of volatility (as we have experienced over the last few trading days) can muddy the analytical waters. After a 30 percent advance in the S&P 500 from the October lows, a pullback seems appropriate, and the reaction to the recent pullback couldn’t be more telling.

Cybercrime on the Rise

Despite increased awareness of cybercrime, cyber-attacks continue to plague companies from Memphis to Brussels to Subic Bay.

STATE GOVERNMENT

House Panel Advances Gun Bill

NASHVILLE, Tenn. (AP) — A proposal to strip employers of the right to ban firearms on company property is advancing again in the House, even though Gov. Bill Haslam says he doesn’t think it will pass.

REGIONAL

US 78 Segment Named for Ex Transportation Official

JACKSON, Miss. (AP) – Part of a north Mississippi thoroughfare is being named the William R. "Bill" Minor Memorial Highway, for a state transportation commissioner who died in November 2010.

NATIONAL GOVERNMENT

Senate Seeks Ways to Save Ailing US Postal Service

WASHINGTON (AP) – With big postal cuts looming, the Senate is deciding whether to stabilize the ailing U.S. Postal Service with a short-term cash infusion while delaying most decisions on closing post offices and ending Saturday mail delivery by requiring further review.

2nd Panel Blasts GSA for Parties, Trips, Bonuses

WASHINGTON (AP) – General Services Administration witnesses came under sharp criticism from Congress for a second day on Tuesday, as lawmakers expressed outrage over junkets, bonuses and parties paid for by taxpayers.

REAL ESTATE

US Homebuilders Request Most Permits Since September 2008

WASHINGTON (AP) – U.S. builders requested the most permits in March for single-family homes and apartments in 3½ years, suggesting that many expect the housing market to improve over the next year.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 73 220 17,575
MORTGAGES 83 246 22,897
FORECLOSURE NOTICES 0 33 4,462
BUILDING PERMITS 206 514 41,739
BANKRUPTCIES 52 176 16,568
BUSINESS LICENSES 20 50 5,751
UTILITY CONNECTIONS 97 196 25,067
MARRIAGE LICENSES 12 66 5,351

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