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VOL. 127 | NO. 83 | Friday, April 27, 2012

International Paper Q1 Profit Tumbles on Charges

International Paper Co. said Friday that its first-quarter profit tumbled 47 percent, pulled down by hefty charges, along with higher costs and operational issues at biggest business. Its adjusted earnings beat Wall Street expectations.

Ambitious Educators

KIPP Memphis embarks on massive expansion plan

KIPP Memphis, which currently educates 500 students in grades five through nine at two schools, has embarked on an ambitious expansion plan that will include opening 10 collegiate schools educating roughly 4,500 students in North and South Memphis by 2016.

Discrimination Found in Juvenile Court

The U.S. Justice Department said Thursday, April 26, that juvenile offenders in Shelby County are denied due process rights and that black children are treated differently and more harshly than white children by the Juvenile Court of Memphis and Shelby County, including the process used to transfer children who are to be tried as adults.

Conn.-Based XSE Group Inks Deal

A Middletown, Conn.-based office supply printing company has entered the local industrial scene, taking advantage of Memphis’ centralized logistical capabilities.

Berger Working on Food Truck Alliance

As if owning and operating the city’s fastest growing self-serve frozen yogurt business isn’t enough, Taylor Berger is about to add two more hospitality titles to his resume.

Local Weather
Today
Memphis, TN
95°F
Partly Cloudy
Wind: 6 mph
Humidity: 47%

EVENTS

The Memphis Chapter of the International Association of Administrative Professionals will host its 58th annual Professional Development Seminar, Friday, April 27, from 8:30 a.m. to 4:30 p.m. at the Holiday Inn University of Memphis, 3700 Central Ave. Cost is $125. Contact Sharon Gardner at 752-6213 or sharon.gardner@asentinel.com.

more events »

EdR Sees Q1 Net Income of $1.9M

EdR more than doubled its first quarter net income year over year, results the Memphis-based collegiate housing REIT attributes to strong 2012 pre-leasing to date.

Delta Declines to Address Oil Refinery Rumors

When it was time for questions on this week’s earnings conference call by Delta Air Lines Inc., the company’s president evaded questions about reports that Delta is considering buying an oil refinery in Pennsylvania.

MEMPHIS STANDOUT

Wilson’s Safety Hound Tackles Workplace Danger

Editor’s note: This is the sixth in a six-part series on entrepreneurs in the current round of the Seed Hatchery boot camp.

SPORTS

Grizzlies Shift Focus To Playoff Grit, Grind

As the shortened but grueling NBA season was winding itself down into so many ugly wins over mere Hornets, Bobcats and Cavaliers, the Grizzlies’ Rudy Gay looked back and summed up the journey.

Nicest AD In the World Steps Down

Sixteen years ago R.C. Johnson became the University of Memphis athletic director and he started the tradition of an annual media appreciation luncheon. John Calipari, among others, would have choked on the idea.

LOCAL COLUMNISTS

More Monkey Biz From Officials

EVOLVING RESPONSE. The anachronistic Tennessee Legislature has awarded creationism equal scientific weight to evolution and declared that the prevailing religious belief of that body be offered as viable explanation to our school children for the order, formation and timing of the universe.

RSVP Now for Nonprofit Conference

Nonprofits are one way we come together to advocate for what we believe in, to provide services, to educate, to heal, inspire and enjoy the arts. To name just a few. At the heart is community, and with that comes communication.

Don’t Be Afraid to Hire Consultant

Many business leaders are reluctant to hire a consultant when they need one. In my 15 years as a CEO, I used consultants sparingly, and usually to handle something new to the organization such as ISO9000 certification or lean manufacturing initiatives.

STATE GOVERNMENT

House OKs Judicial Selection Plan on 70-24 Vote

NASHVILLE (AP) – A proposal to change the Tennessee Constitution to give the Legislature power to reject the governor's appointments to the state Supreme Court justices cleared the House on Thursday.

Governor Signs Saggy Pants Bill

NASHVILLE (AP) – A proposal that would prohibit students from dressing in an "indecent manner" at school has been signed by the governor.

Bill Seeks to Get Tennesseans Off Unemployment

NASHVILLE (AP) – A proposal to help Tennesseans get off unemployment and find a job has passed the Senate.

Welfare Drug Testing Bill Passes Senate

NASHVILLE (AP) – A measure to require drug testing as a condition for receiving welfare has passed the Senate.

Imitation Drug Bills Headed to Governor

NASHVILLE (AP) – Proposals that increase penalties for making or selling imitation drugs are headed to the governor for his signature.

REGIONAL

Fetal Heartbeat Bill Killed by Miss. Senate Chair

JACKSON, Miss. (AP) – A Mississippi Senate chairman on Thursday killed a bill that could have led to a homicide criminal prosecution for anyone performing an abortion once a fetal heartbeat is found.

NATIONAL BUSINESS

US Unemployment Aid Requests Near 3-Month High

WASHINGTON (AP) – The number of people seeking U.S. unemployment benefits remained stuck near a three-month high last week, a sign that job gains will likely remain modest.

UPS Q1 Profit Up, But International Business Slows

ATLANTA (AP) – UPS said Thursday that its first-quarter profit rose 6 percent, but the result came in below Wall Street's expectations as Asian exports and other international shipments slowed.

NATIONAL GOVERNMENT

Political Battle Over Student Loans Heating Up

WASHINGTON (AP) – House Speaker John Boehner said Thursday that President Barack Obama was acting "beneath the dignity of the White House" when he traveled around the country this week to pressure Republicans to help keep federal student loan costs from ballooning. Boehner said Obama should reimburse taxpayers for the trips' costs.

REAL ESTATE

Contracts for US Homes Rose Last Month

WASHINGTON (AP) – An index that tracks the number of signed contracts to buy U.S. homes rose to its highest level in nearly two years last month, the latest sign the battered housing market is slowly improving.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 72 327 11,765
MORTGAGES 76 371 15,350
FORECLOSURE NOTICES 28 99 3,010
BUILDING PERMITS 382 972 28,226
BANKRUPTCIES 65 345 11,307
BUSINESS LICENSES 19 117 4,155
UTILITY CONNECTIONS 184 700 17,184
MARRIAGE LICENSES 20 100 3,564

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