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VOL. 127 | NO. 153 | Tuesday, August 7, 2012

ServiceMaster Q2 Revenue Drops Slightly

Memphis-based The ServiceMaster Co. saw a half a percentage point drop in its operating revenue for the second quarter compared to a year ago – a flattening of its revenue attributed in part to a continuing shift in the strategy of its TruGreen lawn care division.

Hotel Makeover

The signature Peabody hotel readies for major renovation

The editors of TripAdvisor, the world’s largest Internet website devoted to travel, think the South’s Grand Hotel is one of the top 10 “quirkiest lodgings in America.”

B&B Could Spark Victorian Village

Following years of due diligence, the James Lee House in Downtown Memphis could soon be the centerpiece of the Victorian Village master plan.

Council To Consider Gas Tax Increase

Memphis City Council members vote Tuesday, Aug. 7, on the third and final reading of a proposed local gasoline tax that would go to Memphis voters on the Nov. 6 ballot.

Funding Brings More Changes to Riverfront

The world’s largest steamboat will have some company at Beale Street Landing. Water taxis would travel from the landing at the foot of Beale to the south end of Mud Island River Park and back as part of a still developing plan that last week secured $800,000 in funding from the U.S. Department of Transportation.

No Regrets as Kernell Exits 38 Years in Nashville

When Mike Kernell first took his seat in the House chamber in Nashville he had just turned and he was a political newcomer inspired to run for office in the wake of the assassination of Dr. Martin Luther King Jr. just six years earlier.

Orgel Talks ‘Glass Ceilings,’ School Buildings

Countywide school board chairman Billy Orgel says there is a “glass ceiling” sometimes when it comes to considering local educators for the leadership of what will be a merged public school system in one more school year.

GOVERNMENT AGENDA

Memphis City Council Agenda

The Memphis City Council will meet Tuesday, Aug. 7, at 3:30 p.m. in the Council chambers in City Hall, 125 N. Main St. Click on the meeting icon for a full agenda.

REAL ESTATE RECAP

Grant Entity Files $20M Loan For Collierville Construction

25 acres north, Of Shea Road -
Westbrook Crossing GP, a partnership comprised of Milton and Ruth Grant, has filed a $20 million construction loan to build adjacent to the FedEx World Technology Center in Collierville.

LOCAL COLUMNISTS

Late Bloomers

Last week we discussed the Family Safety Center, which is focused on providing one location that effectively combines civil, criminal, health and social services for victims of domestic violence. This week let us share a story that was submitted by reader and LPBC partner, Mike Bowen, CEO and President of Champion Awards & Apparel. The story is about “late bloomers” and is a testament for how businesses can play an active role in the community and how someone’s past does not have to predict his or her future.

STATEWIDE

Disavowed Senate Nominee Preparing for November

NASHVILLE, Tenn. (AP) — The U.S. Senate candidate disavowed by the Tennessee Democratic Party said Monday that he's determined to show he's a viable challenger to Republican incumbent Bob Corker in November.

REGIONAL

MDA to Host Minority Business Conference

JACKSON, Miss. (AP) — The Mississippi Development Authority will host a conference Aug. 16 aimed at connecting minority- and women-owned businesses with opportunities.

NATIONAL BUSINESS

Survey: Tighter US Loan Standards for Europe Banks

WASHINGTON (AP) — A Federal Reserve survey finds that more than half of U.S. banks that lend to European banks continue to tighten their credit standards. That reflects the U.S. banks' concern over the deepening European debt crisis.

Soybeans Fall After Rain Hits Some Parched Crops

The price of soybeans has dropped after rain fell across parts of the Midwest, raising questions about how much the moisture may have benefited crops that have been battered by hot, dry weather.

IAG Eyes Stake in American Airlines

LONDON (AP) — The owner of British Airways and Spanish airline Iberia says it is considering taking a stake in American Airlines.

Markets Stay Buoyed by Jobs

LONDON (AP) – Financial markets remained in a buoyant mood Monday by figures showing the U.S. economy generated a greater than expected amount of jobs in July and by a growing belief that the European Central Bank could do more in the months ahead to contain the continent’s debt crisis.

Euro Jumps to 1-Month High Against Dollar

NEW YORK (AP) — The euro rose to a one-month high against the dollar Monday following last week's stronger-than-expected U.S. jobs report.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 109 433 13,330
MORTGAGES 114 591 17,349
FORECLOSURE NOTICES 11 93 3,391
BUILDING PERMITS 0 366 30,930
BANKRUPTCIES 76 352 12,695
BUSINESS LICENSES 21 108 4,597
UTILITY CONNECTIONS 77 564 19,457
MARRIAGE LICENSES 29 151 4,060

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