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VOL. 127 | NO. 149 | Wednesday, August 1, 2012

Shakeup Could Impact Wright’s Q2

Wright Medical Group Inc. over the last two years has seen its fair share of restructuring, and some analysts anticipate that realignment, coupled with sales dislocations and customer losses, will likely result in some short-term pain surrounding the company’s Q2 reported earnings.

History for Sale

Trio of notable properties hits real estate market

Three historic properties in the Midtown and Downtown areas are on the market, all listed with major Memphis commercial real estate firms.

School Board Takes First Steps Toward Merger Supt. And Plan

Countywide school board members gave themselves a majority of the seats on a 13-member committee to begin the search for a superintendent to lead Shelby County’s two public school systems into an August 2013 merger and beyond.

Commission Stands By Commenter Subpoena

No matter where they are on the municipal school districts issue, most Shelby County Commissioners were surprised by the subpoena issued last week by attorneys trying to have the municipal school districts legislation declared unconstitutional.

Sales Tax Weekend Boost for Biz, Consumers

Mignonne Wright is looking forward to this weekend. Friday, Aug. 3, kicks off the state’s yearly three-day sales tax holiday that can fuel a boost in business for retailers that carry certain clothing, school supplies and computers.

Local Weather
Today
Memphis, TN
72°F
Partly Cloudy
Wind: 5 mph
Humidity: 66%

EVENTS

The Daily News will hold a sustainable energy seminar and panel discussion as part of its 2012 seminar series Thursday, Aug. 2, at 3:30 p.m. at Memphis Brooks Museum of Art, 1934 Poplar Ave. Cost is $25. Register at seminars.memphisdailynews.com.

more events »

Shipyard, Mike’s Hard Lemonade Added to Local Brewing Scene

Blues City Brewery is now producing two malt beverages for well-known national brand names – Shipyard and Mike’s Hard Lemonade.

MEMPHIS NEWSMAKERS

Baldwin Joins Trumbull Labs as Pathologist

Dr. Heather Sehnert Baldwin has joined Trumbull Laboratories LLC as a pathologist. In her new role, Baldwin will practice a full range of pathology with a focus in hematopathology.

LOCAL COLUMNISTS

Techniques For Revealing Hidden Objections

Editor’s Note: This is the second in a two-part series. Prospects speak a language of their own. A seemingly positive, “call me back in a few months” more often than not means “you may try, but you’ll be screened by my gatekeeper relentlessly.”

Small Businesses Create Big Economies

While consumption expenditures account for 71 percent of our economy, investment activity (essentially delayed consumption) determines the magnitude of future consumption. When the economy generates a high level of investment activity, business productivity grows, innovations flourish and new employers create jobs. For these activities to occur, business owners must be willing to take risks. Within the U.S. economy, 65 percent of net new jobs created between 1992 and 2010 came from companies with fewer than 500 employees. In the U.S., as goes small business, so goes the economy.

REGIONAL

Airline Reschedules Start of Ticket Sales

TUPELO, Miss. (AP) – Silver Airways has pushed back the start date of ticket sales for service out of the Tupelo Regional Airport.

NATIONAL BUSINESS

US Consumers More Confident in the Economy in July

NEW YORK (AP) – Americans breathed a bit easier about the economy in July, as a better outlook on short-term hiring and lower gas prices offset lingering worries about poor income growth.

US Consumer Spending Flat, Income Up 0.5 Pct.

WASHINGTON (AP) – Americans spent no more in June than they did in May, even though their income grew at the fastest pace in three months.

NATIONAL GOVERNMENT

Reid, Boehner Announce Stopgap Spending Pact

WASHINGTON (AP) – The top Republican and Democrat on Capitol Hill have announced an agreement to keep the government running on autopilot for six months when the current budget year ends on Sept. 30.

Gov't Bars Fannie-Freddie From Reducing Principal

WASHINGTON (AP) – A federal regulator is standing by its decision to bar Fannie Mae and Freddie Mac from reducing principal for borrowers at risk of foreclosure, resisting pressure from the Obama administration.

Fed Could be Moving to More Bond Buying

WASHINGTON (AP) – The Federal Reserve appears to be moving toward announcing some new step to try to energize the troubled U.S. economy. The question is whether it will do so after its policy meeting this week.

REAL ESTATE

Home Prices Rose in All Major US Cities in May

WASHINGTON (AP) – Home prices rose in May from April in every city tracked by a leading index, a sign that increasing sales and tight inventories are supporting a modest housing recovery.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 110 154 13,810
MORTGAGES 135 193 18,019
FORECLOSURE NOTICES 15 39 3,544
BUILDING PERMITS 430 430 32,733
BANKRUPTCIES 52 130 13,133
BUSINESS LICENSES 20 45 4,750
UTILITY CONNECTIONS 83 204 20,104
MARRIAGE LICENSES 0 33 4,230

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