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VOL. 127 | NO. 154 | Wednesday, August 8, 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.

Opening Bell

Last year of separate school systems begins with host of changes

By bricks and mortar, the last school year of separate Memphis City and Shelby County schools that began Monday, Aug. 6, looked about like most school years.

GTx Narrows Q2 Loss

GTx Inc. Wednesday, Aug. 8, reported a net loss of $10.4 million for the second quarter, compared to a net loss of $10.7 million for the same period in 2011.

Destination King Merges With Chattanooga Firm

Destination King has merged with Quiddity Entertainment of Chattanooga, Tenn., and the subsequent formation of LEO – an events management group based in Memphis with offices in Chattanooga and Myrtle Beach, S.C.

Praxair, nexAir Form Joint Venture

Danbury, Conn.-based industrial gases company Praxair Inc. and Memphis-based nexAir LLC are forming a joint venture that will enable the combined business to have a bigger reach and broader mix of services for customers.

Local Weather
Today
Memphis, TN
45°F
Fair
Wind: 0 mph
Humidity: 82%

EVENTS

Chandler Reports will hold hands-on training seminars on its Shelby County Residential Service Wednesday, Aug. 8, from 2 p.m. to 3 p.m. and 3:30 p.m. to 4:30 p.m. at the Memphis Area Association of Realtors computer lab, 6393 Poplar Ave. Cost is free. Contact Wendy Greenlaw at wendy@chandlerreports.com or 528-5273.

more events »

Gibson Guitar Deal a Contrast With Earlier Stance

The deal Gibson Guitar Corp. and federal prosecutors said they reached this week to drop a criminal case against the Tennessee-based guitar maker represents a sharp reversal from the combative stance Gibson took publicly last year.

Proposed Gas Tax Advances to November Memphis Ballot

Memphis City Council members gave final approval Tuesday, Aug. 7, to a second ballot question for the Nov. 6 ballot in Memphis.

Survey: 34 Pct. Of Physicians to Leave Medical Practice

A new nationwide survey of U.S. physicians shows that 34 percent say they will leave the practice of medicine in the next decade, just as millions of Americans newly insured under the Affordable Care Act will seek more access to medical care.

Archer-Malmo Grows as Business Surges

Archer-malmo has added more than 20 people to its professional staff this year, and the growth outlook is positive.

MEMPHIS NEWSMAKERS

Hinte Expands Role At Second to Nunn

Lowell Hinte has been promoted to account manager and designer at website- and branding-design company Second to Nunn Design. Hinte has served as a designer at S2N since 2009. In his expanded role, Hinte will ensure clients’ expectations are met on key projects regarding strategy, vision, quality and schedule.

LOCAL COLUMNISTS

Pinterest Piques Retailer Interest

Editor’s Note: This is the first in a two-part series. With photo-sharing tool Instagram off the market – selling to Facebook earlier this year for a billion dollars – Pinterest is now the hottest social media startup in Silicon Valley due to its rapid growth as the fastest social media platform ever to gain 10 million unique users. Today, Pinterest boasts 17 million accounts, up from 5,000 in the fall of 2010, making it the third-largest social network after Facebook and Twitter, according to Forbes.

What’s On, What’s Off Economic Table?

On the Table: Conversational Easing With the data stream lukewarm at the moment, markets needed policy support for handholding. Recent history demonstrates that when market anxieties rise, fiscal and monetary authorities intervene. We have described this as the “Punch/Counterpunch” market.

Corporations Are Crushing Spirits Of Best And Brightest

As the resumes roll in for open positions here at the Studio, we are facing a trend we have suspected for a while: There are legions of burned-out corporate drones looking for liberation.

NATIONAL BUSINESS

Job Postings Most in Four Years

WASHINGTON (AP) – U.S. employers posted the most job openings in four years in June, a positive sign that hiring may pick up.

US Consumers Cut Back on Credit Card Use in June

WASHINGTON (AP) – Americans cut back on credit card use in June, further evidence that high unemployment and slow growth has made consumers more cautious about spending.

EW Scripps Posts Q2 Profit on Upbeat TV Ad Sales

CINCINNATI (AP) – TV station and newspaper owner The E.W. Scripps Co. said Tuesday that it posted a second-quarter profit, thanks to better-than-expected TV advertising revenue and the acquisition of several stations.

US Seeks $162M in Fines Against AMR, American Air

DALLAS (AP) – Federal safety regulators are seeking up to $162.4 million in fines against American Airlines and its affiliates for alleged violations of U.S. safety standards going back several years. The sanctions would dwarf any previous penalties against an airline.

REAL ESTATE

Freddie Mac Posts $1.2B Net Income for Q2

WASHINGTON (AP) – Government-controlled mortgage giant Freddie Mac posted net income of $1.2 billion for the second quarter and isn't requesting any additional federal aid for the period.

Fed Fines MetLife $3.2M Over Foreclosure Abuses

WASHINGTON (AP) – The Federal Reserve is imposing $3.2 million in penalties against MetLife Inc. for failing to prevent foreclosure abuses by its bank subsidiary.

HEALTH CARE

Pfizer Pays $60 Million to Settle Bribery Charges

WASHINGTON (AP) – Pfizer has agreed to pay the federal government $60 million to settle allegations that its employees bribed doctors and other foreign officials in Europe and Asia to win business and boost sales.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 0 238 15,304
MORTGAGES 0 264 20,043
FORECLOSURE NOTICES 0 86 3,972
BUILDING PERMITS 0 441 36,283
BANKRUPTCIES 0 178 14,521
BUSINESS LICENSES 0 55 5,184
UTILITY CONNECTIONS 0 241 22,058
MARRIAGE LICENSES 0 73 4,736

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