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VOL. 127 | NO. 159 | Wednesday, August 15, 2012

South Main Athletic Club, Cafe Wins $200K Loan

After some initial concerns by the Center City Development Corp. board, a local development team has received the green light to move forward with its plans to renovate the 26,500-square-foot building at 387 S. Main St. into a mixed-use development that will include an athletic club and café.

Workforce Preparation

Haslam discusses future needs with business, education leaders

Tennessee Gov. Bill Haslam has been hearing the same thing as he travels across the state holding forums on higher education.

Investor Day Arrives for ZeroTo510

The first entrepreneurs to go through the ZeroTo510 business accelerator program are 24 hours away from their moment of truth.

National Tech Media Site Relocating to Memphis

Nibletz.com, which bills itself as “the voice of startups everywhere else”, is moving its base of operations to Memphis, after considering a few other cities – and even sweeter incentives elsewhere.

County Approves Sales Tax Hike

Shelby County Mayor Mark Luttrell has told Shelby County Commissioners that he will probably veto a proposed half-cent countywide local sales tax increase bound for the Nov. 6 ballot in Memphis and unincorporated Shelby County.

Funding for Greenline Extension Narrowly Passes

An extension of the Shelby Farms Greenline from Farm Road east across Germantown Parkway to the old Cordova train depot along the old CSX rail corridor is on track.

City Opens Employee Wellness Clinic

The city of Memphis Wednesday, Aug. 15, will open an Employee Wellness Clinic at 2714 Union Ave. Extended for employees, dependents and retirees covered by the city’s health care plan.

MEMPHIS NEWSMAKERS

Gatewood Named Marketing Dir. At Methodist Healthcare

Megan Gatewood has been promoted to marketing director at Methodist Healthcare. In her new role, Gatewood is responsible for developing and overseeing marketing strategies for Methodist’s adult hospitals, outpatient services and physician practices.

LOCAL COLUMNISTS

Squelch Those Money Squabbles

Ray’s Take Disagreements over money can literally tear families apart – it’s the No. 1 reason for divorce. One reason financial matters give rise to so much conflict is that only one person typically takes on family money management responsibilities. This easily leads to the other partner becoming financially oblivious and that imbalance can lead to problems.

Economic Outcomes Remain Up in Air

Fedcasting With the markets and the politicians currently co-dependent, vacation for one implies vacation for the other. Trading volumes have collapsed. For those who are manning their trading terminals, daily market activity amounts to position-squaring ahead of September’s central bank policy proclamations.

NATIONAL BUSINESS

Small Biz Owners Grow More Pessimistic in July

NEW YORK (AP) – Small business owners' optimism sank again in July as they expected sales to weaken in the coming months, according to a survey released Tuesday.

Number of New Credit Cards Issued Up 4 Pct in Q2

LOS ANGELES (AP) – Americans are carrying more credit card debt than a year ago, yet the late-payment rate for card holders remains near an 18-year low, an analysis of consumer-credit data shows.

US Business Inventories Up 0.1 Percent in June

WASHINGTON (AP) – U.S. companies barely increased their stockpiles in June from May, and sales plunged by the largest amount in more than three years.

US Wholesale Prices Rose 0.3 Percent in July

WASHINGTON (AP) – U.S. wholesale prices increased in July from June. Higher auto and food costs were offset by a drop in energy prices

NATIONAL GOVERNMENT

Farm Subsidies, FBI, Air Controllers Face Big Cuts

WASHINGTON (AP) – Come January, be prepared for fewer air traffic controllers, FBI agents, border patrol officers and park rangers, as well as lower farm and winter heating subsidies. Less meat might get inspected. Furloughs will likely sweep across the government. Even the weather service could be affected.

DHS Launches New Immigration Program

WASHINGTON (AP) – The Department of Homeland Security is releasing for the first time details on how illegal immigrants brought to the United States as children can apply to avoid deportation and receive a work permit.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 54 266 12,031
MORTGAGES 111 406 15,756
FORECLOSURE NOTICES 0 80 3,103
BUILDING PERMITS 0 606 28,832
BANKRUPTCIES 73 364 11,671
BUSINESS LICENSES 17 119 4,274
UTILITY CONNECTIONS 121 549 17,732
MARRIAGE LICENSES 23 104 3,668

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