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VOL. 127 | NO. 155 | Thursday, August 9, 2012

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.

Roots of Success

The Holiday Inn chain that started in Memphis turns 60 years old

The story of Holiday Inn could serve as a homegrown business case study of what makes a brand resonate with customers – and what qualities are needed for that brand to endure over time.

City Amends Voter ID Lawsuit

The city of Memphis is now mounting a direct challenge to the state’s voter photo identification law claiming the law adds “a qualification for the right to vote” beyond what is required in the Tennessee Constitution.

Gas Tax Would Raise MATA Funding

If Memphis voters approve a gas tax increase on the Nov. 6 ballot, the Memphis Area Transit Authority will have what it has for years said it lacks to provide better service – a dedicated source of continuing funding.

Charter School Shifts Part of Ongoing Changes

It was just a few months ago that Lakeview Elementary School in southwest Memphis was closed by the Memphis City Schools system – part of a shift of school-age students out of the western parts of the city to the eastern parts of the city and Shelby County.

Local Weather
Today
Memphis, TN
74°F
Fair
Wind: 7 mph
Humidity: 33%

EVENTS

Chandler Reports will present the Master Your Market Second Quarter Update Thursday, Aug. 9, from 3 p.m. to 4:30 p.m. at the Germantown Great Hall & Conference Center, 1900 S. Germantown Road. A panel of real estate professionals will provide perspectives on local market activity. Cost is $10 for Chandler subscribers and $15 for nonsubscribers. Register at seminars.memphisdailynews.com.

more events »

Destination King Merges With Chattanooga Firm

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

MALS Capital Drive Under Way

Memphis Area Legal Services Inc. exists to provide crucial legal help and representation to needy Memphians.

Council OKs Chisca Funding

The Memphis City Council approved Tuesday, Aug. 7, sending $2 million in city funding to the Center City Development Corp. for blight remediation at the Chisca Hotel on South Main Street.

MEMPHIS LAW TALK

Glankler Brown’s Humphreys Carrying on Family Name

R. Hunter Humphreys Jr. considers himself a rare breed of law student – one that didn’t want to pursue a legal career in litigation.

LOCAL COLUMNISTS

Sign Up for Your Co.’s 401(k) Plan

Ray’s Take The most important thing to know about 401(k) retirement savings accounts is pretty simple: Do it, and participate to the maximum you possibly can. Don’t wait and don’t quit.

Crossword Contrasting Continues

Dear Judge Vic, “So, in last week’s column, you’re saying that those vintage ’50s & ’90s xword answers are no longer tolerated? Geesh! What will I do now to make fun of you? Vocab Larry”

STATEWIDE

GM Now Building Ecotek Engine in Tenn.

SPRING HILL, Tenn. (AP) – Carmaker General Motors has begun manufacturing its new Ecotek automobile engine in Tennessee.

STATE GOVERNMENT

Haslam: Too Soon to Tell on Parking Lot Guns Bill

NASHVILLE (AP) – Gov. Bill Haslam says it's too early to tell whether the defeat of House Republican Caucus Chairwoman Debra Maggart in last week's primary will cause lawmakers to usher through a gun bill championed by the National Rifle Association.

REGIONAL

Martin Backs Considering Primary in Ark. Suit

LITTLE ROCK, Ark. (AP) – Secretary of State Mark Martin is supporting a state lawmaker's request that the May primary results be considered in a lawsuit challenging the new boundaries of an east Arkansas Senate district.

NATIONAL BUSINESS

US Worker Productivity Up 1.6 Pct. in 2nd Quarter

WASHINGTON (AP) – U.S. companies got slightly more out of their workers this spring after scaling back on hiring. The modest 1.6 percent annualized gain in productivity from April through June signals employers may need to hire more if demand picks up.

REAL ESTATE

Late Payments on Mortgages Hit 3-Year Low in Q2

LOS ANGELES (AP) – U.S. homeowners are getting better about keeping up with their mortgage payments, driving the percentage of borrowers who have fallen behind to a three-year low, according to a new report.

Fannie Mae Posts $2.2B Net Gain for Q2

WASHINGTON (AP) – Fannie Mae earned $2.2 billion from April through June, its second quarterly gain in net income since being taken over by the government during the 2008 financial crisis.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 66 153 14,870
MORTGAGES 64 144 19,474
FORECLOSURE NOTICES 0 22 3,817
BUILDING PERMITS 217 359 35,689
BANKRUPTCIES 59 121 14,155
BUSINESS LICENSES 24 86 5,077
UTILITY CONNECTIONS 71 170 21,603
MARRIAGE LICENSES 22 59 4,616

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