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VOL. 127 | NO. 158 | Tuesday, August 14, 2012

FedEx to Begin Voluntary Buyouts

Memphis-based FedEx Corp. is preparing for a voluntary employee buyout that will likely target workers in the company’s Express and Service units.

Expanding Care

Church Health Center unveils dental clinic

The Church Health Center, which serves uninsured working people and their families, continues to expand its outreach, recently unveiling a new, state-of-the-art dental clinic at 266 S. Cleveland St. at Linden Avenue.

Shelby Co. Home Sales Up 13 Pct.

July’s home sales report marked the seventh consecutive month with improvements over 2011 totals and the most sales filed during a single month this year, but pricing year to date is still troublesome.

Earnings Growth Leads to Big Payout for FedEx CEO

NEW YORK (AP) – The founder and top executive at FedEx Corp. received a pay package worth $13.7 million in the most recent fiscal year, nearly double a year earlier.

Prospective Grizz Owner, Ubiquiti Look Ahead

Robert Pera, the California businessman who’s in the process of buying the Memphis Grizzlies, was probably ready to turn the page on a new day and a new week.

Local Weather
Today
Memphis, TN
77°F
Fair
Wind: 3 mph
Humidity: 62%

EVENTS

The National Association of Women Business Owners – Memphis will meet Tuesday, Aug. 14, from 11:30 a.m. to 12:45 p.m. at Napa Cafe, 5101 Sanderlin Ave., suite 122. Author and trainer Jodi Santangel will present “Cracking the Code to Connecting Powerfully With People.” Cost is $18 for members and $20 for nonmembers. Register at nawbomemphis.org.

more events »

Commission Approves Countywide Sales Tax Referendum

Shelby County Commissioners approved Monday, Aug. 13, a half cent sales tax hike ballot question that would go to voters in Memphis and the unincorporated county on the Nov. 6 ballot.

Superintendents Talk Merger Transition

Memphis City Schools superintendent Kriner Cash is working on a plan of school closings and building reuse that is different than the recommendation of the schools consolidation planning commission.

Board Looks to Increase Supt. Search Committee

The search by the countywide school board for a merger superintendent is, for now, a search for six citizens to serve on the committee that will recommend a search process for a new superintendent.

REAL ESTATE RECAP

Raines Road Warehouse Sells for $2.3 Million

4049 E. Raines Road, Memphis, TN 38118 -
A Class B warehouse in Airport Industrial Park has sold for $2.3 million, more than four times its price at a foreclosure sale two years ago. Northbrook, Ill.-based BCL-Memphis LLC bought the warehouse at 4049 E. Raines Road from Memphis-based Progression Realty, which paid $501,500 for it in August 2010.

LOCAL COLUMNISTS

50 Years Of SRVS

Last week we shared a story submitted by Mike Bowen, CEO and president of Champion Awards & Apparel, which spotlighted “late bloomers” and was a testament for how someone’s past does not have to predict his or her future. This week let us discuss an organization that is celebrating 50 years of enhancing the lives of people with disabilities and bringing peace of mind to their families: SRVS.

Analyzing Real Estate’s Q2

THE HOUSING BUST IS OVER, THE REAL ESTATE MARKET HAS FINALLY TURNED THE CORNER … are the words that Realtors and consumers are dying to hear. The second quarter numbers for the Memphis and Shelby County real estate market are encouraging; we could be seeing the end.

MEMPHIS AREA

Musicians Remember Elvis' Talent, Character

MEMPHIS (AP) – Elvis Presley left behind hit songs, epic performances, some so-so movies and an image as a handsome, rebellious, talented and sometimes-troubled artist that remains indelibly marked in America's pop culture psyche 35 years after his death.

STATEWIDE

Gaylord Entertainment Share Offering Priced at $40

NASHVILLE (AP) – Hotel and Grand Ole Opry owner Gaylord Entertainment Co. said on Monday that a secondary offering could bring in as much as $259.6 million for the selling shareholder, TRT Holdings Inc.

REGIONAL

Ark. Medical Marijuana Group Seeks Ballot Measure

LITTLE ROCK, Ark. (AP) – The leader of a group that wants a ballot measure to legalize medical marijuana says the organization will submit enough signatures to get on the November ballot.

NATIONAL BUSINESS

Sears Spinning Off Some Stores Into Separate Co.

NEW YORK (AP) – Sears is moving forward with plans to spin off its Hometown and Outlet stores as well as some hardware stores into a separate publicly traded company.

TECHNOLOGY

Google Cutting 4,000 jobs at Motorola Unit

NEW YORK (AP)Google Inc. is making its largest round of layoffs ever as it announced plans to cut about 4,000 jobs at Motorola Mobility just three months after buying the struggling cellphone pioneer.

Google Buying Frommer's Travel Guides From Wiley

HOBOKEN, N.J. (AP) – Google is buying the Frommer's brand of travel guides.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 96 96 12,993
MORTGAGES 132 132 16,890
FORECLOSURE NOTICES 21 21 3,322
BUILDING PERMITS 0 0 30,564
BANKRUPTCIES 66 66 12,409
BUSINESS LICENSES 20 20 4,509
UTILITY CONNECTIONS 146 146 19,039
MARRIAGE LICENSES 35 35 3,944

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