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VOL. 127 | NO. 247 | Wednesday, December 19, 2012

FedEx Reports Earnings Drop, Buys More Planes

FedEx Corp. this morning reported revenue rose 5 percent to $11.1 billion for its fiscal second quarter, compared to $10.6 billion during the same period in 2011. Operating income dropped $718 million, 8 percent from $780 million last year.

Slam Dunk

Busy schedule of Grizzlies, Tigers games keeps businesses in the black

Historically, December isn’t the kindest month to Downtown Memphis’ economy. That’s compared to the summer months, when Beale Street and its surrounding areas are bustling with people visiting attractions, dining at restaurants and spending money on retail items.

Juvenile Court Reform Plan Announced

The U.S. Justice Department announced Tuesday, Dec. 18, an agreement with Memphis-Shelby County Juvenile Court that will put the Shelby County Public Defenders office in the role of defending juveniles who cannot afford to hire an attorney for court proceedings.

Conflict Charge Roils Busy School Board Meeting

One countywide school board member called Tuesday, Dec. 18, for the resignation of another board member over an alleged conflict of interest.

Council Approves City Tax Collections By Trustee

The Shelby County Trustee’s office will collect property taxes for the city of Memphis under an interlocal agreement approved Tuesday, Dec. 18, by the Memphis City Council.

Local Weather
Today
Memphis, TN
88°F
Cloudy
Wind: 9 mph
Humidity: 65%

EVENTS

The Rotary Club of Memphis East will meet Wednesday, Dec. 19, at noon at The Racquet Club of Memphis, 5111 Sanderlin Ave. Ambassadorial scholar Nathan Ramira will speak. Cost is $17. R.S.V.P. to Lee Hughes at lmhughes@bellsouth.net.

more events »

Southaven Mayor Davis Indicted on Fraud Charges

Southaven Mayor Greg Davis was indicted Tuesday, Dec. 18, on three counts of fraud by a DeSoto County grand jury.

Brewer’s Publishing Unit Releases New Music

The new music publishing company from film director and Memphis native Craig Brewer has released its first song collection, Memphis musician Jason Freeman’s 10-song LP “Hex & Hell.”

Cancer Research Center Awards Seed Grants

The West Clinic, Methodist Healthcare and the University of Tennessee Health Science Center have initiated the dispersal of seed research grants to advance cancer research, education and care for patients in the Memphis area.

Commission Finds Barriers to Comparing Pre-K

The idea of universal pre-kindergarten in public schools across Shelby County – or at least an expansion of pre-kindergarten access with the coming August merger of city and county schools – is one goal of the schools merger that has a broad consensus.

MEMPHIS NEWSMAKERS

Towns Named to Southern College of Optometry Board

Leticia “Tish” Towns, senior vice president of external relations for the Regional Medical Center at Memphis, has been named to the Southern College of Optometry board of trustees. Among her duties at The MED, Towns oversees the development of the hospital’s strategic plan and manages marketing and communications, community engagement, the Traumatic Brain Injury program, government relations and pastoral care.

LOCAL COLUMNISTS

Top 2012 Social Media Campaigns

With the considerable growth in social media users, more brands are wading into the waters, allocating nearly 11 percent of their advertising budgets toward these channels this year – three times more than 2011.

Cash In on Cashing Out

While we may not know the details of next year’s tax increases, we do know that taxes will increase. This has created a rush of year-end tax planning to sell assets, issue dividends and claw compensation forward. In fact, hundreds of public companies have announced special dividends to pad investor’s pockets before year-end.

Grow in Spite of Flat, Saturated Market

As an industry matures it becomes saturated and players in the market struggle to maintain the robust growth they saw in the early days. Back then, the formula for growth was simple: invent a product or service, get distribution, expand internationally, then acquire and consolidate to dominate the market. What’s left?

NATIONAL GOVERNMENT

Fiscal Cliff Efforts Ongoing, Boehner Offers Plan

WASHINGTON (AP) – President Barack Obama and House Speaker John Boehner pushed ahead on negotiating a broad deal to avert the "fiscal cliff," even as the GOP leader readied a backup plan Tuesday to pressure the White House with little time left to avoid a double hit on the economy.

REAL ESTATE

US Homebuilder Confidence at Highest Level Since 2006

LOS ANGELES (AP) – Confidence among U.S. homebuilders inched up this month, to the highest level in more than six and a half years, as builders reported the best market for newly built homes since the housing boom.

TECHNOLOGY

Facebook Users Hit 'Like,' Stores Jump Into Action

NEW YORK (AP) – Facebook isn't just for goofy pictures and silly chatter. Whether shoppers know it or not, their actions online help dictate what's in stores during this holiday season.

Software Industry Braces for New Phone Apps Rules

WASHINGTON (AP) – A cellphone game for kids about U.S. geography, "Stack the States," gets rave reviews from parents. Its creator, Dan Russell-Pinson, considered making the 99-cent app better by adding a feature to allow children to play online against one another. But with the Federal Trade Commission issuing more stringent online child privacy rules, he's not even pursuing the idea.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 0 43 12,074
MORTGAGES 0 78 15,834
FORECLOSURE NOTICES 39 39 3,168
BUILDING PERMITS 292 292 29,124
BANKRUPTCIES 3 100 11,771
BUSINESS LICENSES 0 18 4,292
UTILITY CONNECTIONS 0 190 17,922
MARRIAGE LICENSES 0 43 3,711

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