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VOL. 127 | NO. 151 | Friday, August 3, 2012

Muni Schools Questions Pass, Cohen Wins Big

Voters in each of the six suburban towns and cities in Shelby County approved establishing municipal school districts in the unofficial results of the Thursday, Aug. 2, county general and state and federal primary elections.

Congestion Woes

TDOT commissioner talks importance of improving Lamar Corridor

Tennessee Transportation Commissioner John Schroer told the Regional Logistics Council Thursday, Aug. 2, that his office has the “right priority list” of road projects for the Memphis area.

Wright Medical Profit Drops in Q2

Wright Medical Group Inc. earned a second-quarter profit of $0.7 million, or $0.02 per diluted share, down from $6.1 million or $0.16 per diluted share in Q2 2011, the global orthopedic medical device maker reported Wednesday, Aug. 1.

Raleigh Office Complex Sold To Local Entity

An office complex in Raleigh has traded hands after being under the same family ownership for more than 30 years.

New Gang Unit Takes All-Out Approach

There are few pieces of gang graffiti that are a more certain indicator of gang activity than the word Hoover.

Local Weather
Today
Memphis, TN
88°F
Partly Cloudy
Wind: 0 mph
Humidity: 35%

EVENTS

The Tennessee 2012 Sales Tax Holiday will run from Friday, Aug. 3, through Sunday, Aug. 5. Visit tn.gov/revenue/salestaxholiday for a list of items that qualify as tax-free purchases.

more events »

Airfare Campaigns Continue Through Turbulence

More than 12,000 citizens have sent email appeals to the CEOs of numerous airlines to consider increasing air service at Memphis International Airport, according to “Come Fly Memphis,” the Facebook group that has become the daily gauge of the civic effort.

Seven Apply to be Criminal Court Judge

Seven Memphis attorneys — four prosecutors from the Shelby County District Attorney General’s office, two federal prosecutors and a corporate general counsel – have applied to be the new judge of Shelby County Criminal Court Division 6.

MEMPHIS STANDOUT

Lemmonds Keeps Startups On Track at LaunchYourCity

Entrepreneurship is as much about storytelling as it is product creation and company-building. The latest widgets, the hottest startups, the most game-changing ideas – they don’t sell themselves.

LOCAL COLUMNISTS

Remembering The Decathlon

SHOOTING THE MOON FOR GOLD. My fellow decathlete, Jeff Chamblin, called. We remember the competition as if it were yesterday.

How to Set Your Fundraising Goal

What is fundraising without a goal? Most campaigns have one. The question is: how do you set it?

REGIONAL

Ark. Starts Fiscal Year With Revenues Slightly Up

LITTLE ROCK, Ark. (AP) – Arkansas' fiscal year began with revenues tracking slightly ahead of forecast and above last year's figures, though a dip in sales tax revenue hurt gains in individual and corporate income tax collections, the state's finance office said Thursday.

Ark. Area in Worst of Drought Grows to 44 Percent

LITTLE ROCK, Ark. (AP) – Almost half of Arkansas is experiencing the worst category of drought.

NATIONAL BUSINESS

Clearances, Heat Lured Shoppers to Spend in July

NEW YORK (AP) – Americans shoppers proved resilient in July, driving a key sales figure up at retailers across the country, despite persistent worry about jobs and the global economy.

NATIONAL GOVERNMENT

IRS Missing Billions in ID Theft

WASHINGTON (AP) – The Internal Revenue Service may have delivered more than $5 billion in refund checks to identity thieves who filed fraudulent tax returns for 2011, Treasury Department investigators said Thursday. They estimate another $21 billion could make its way to ID thieves' pockets over the next five years.

Gov't Report: Tax Cheats Getting Paid by Medicaid

WASHINGTON (AP) – Thousands of Medicaid health care service providers still got paid by the government even though they owed hundreds of millions of dollars in federal taxes, congressional investigators say. A legal technicality is making it harder for the IRS to collect.

Senate Panel Revives Dozens of Tax Breaks

WASHINGTON (AP) – The Senate's tax-writing panel is moving to revive dozens of tax breaks for businesses like biodiesel and wind energy producers, even as the GOP-controlled House trumpets symbolic legislation to erase them and create a new tax code with lower rates and fewer special interest tax breaks.

HEALTH CARE

Report: Generic Drugs Saved $193 Billion in 2011

TRENTON, N.J. (AP) – Growing use of generic medicines has reduced U.S. health care spending by more than $1 trillion over the past decade, according to an industry-funded study released Thursday.

Muni Schools, Cohen, Weirich, Johnson, Stanton, Kyle Take Early Vote

Voters in each of the six suburban towns and cities in Shelby County were overwhelmingly approving the establishment of municipal school districts and a half cent sales tax hike to fund them in the first vote totals released Thursday, Aug. 2 by the Shelby County Election Commission.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 110 154 13,810
MORTGAGES 135 193 18,019
FORECLOSURE NOTICES 1 29 3,534
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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