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VOL. 127 | NO. 34 | Monday, February 20, 2012

Local Banks See Smaller Profits

Setting aside the performance of the largest local bank, Memphis-area banks as a whole didn’t report as much profit at the end of 2011 as they did at the end 2010.

Eating In

Restaurateurs find niche inside Downtown office buildings

Before a restaurateur nails down a concept, builds a menu or begins the financing process, solidifying a location reigns supreme.

Redistricting Up for Second Reading

Shelby County Commissioners will see Monday, Feb. 20, if there is still a seven-vote majority on the body to pass a new set of district lines and a new commission structure on the second of three readings.

More than 550 Morgan Keegan Employees Visit Raymond James HQ

Morgan Keegan & Co. Inc. executives and financial advisers have wrapped up their trips down to Florida to the headquarters of Morgan Keegan’s soon-to-be new parent company, Raymond James Financial Inc.

Miss. Drug Kingpin Talks of Life on Run in Mexico With Petties

When Dave Warner learned police and federal agents were searching his house in Mississippi in 2004, he ran. And while he was on the run, he got a phone call from Memphis drug kingpin Craig Petties who said Warner could come live in Mexico where Petties had fled two years earlier.

Local Weather
Today
Memphis, TN
73°F
Partly Cloudy
Wind: 0 mph
Humidity: 76%

EVENTS

The Better Business Bureau Breakfast Series will continue Tuesday, Feb. 21, from 7:30 a.m. to 9 a.m. at the BBB, 3693 Tyndale Drive. Lori Turner-Wilson of RedRover Sales & Marketing will discuss reaching and keeping customers through generational marketing. Cost is free for BBB-accredited businesses and $10 for guests. To register, contact Susan Harris at 757-8617 or sharris@bbbmidsouth.org.

more events »

Suburban Schools’ Train ‘Has Left the Station’

The six suburban mayors say the train to municipal school districts is on the tracks and has no time to stop to consider whatever plan the schools consolidation transition planning commission comes up with for a merged public school system.

AAPI Leaders Meet White House Officials

Memphis community and business leaders of Chinese, Vietnamese, Korean, Filipino, Bangladeshi, Indian and Pakistani heritage gathered with White House officials Thursday, Feb. 16, to discuss economic, educational, health and civil rights issues.

Advocate Warns About Stress in Childhood

High levels of stress during childhood may play a significant role in disease causation later in life.

Tony Allen Lifts Grizzlies Past Warriors, 104-103

MEMPHIS (AP) – For the second straight night, Rudy Gay misfired on a go-ahead attempt in the closing seconds – and the Memphis Grizzlies crashed the offensive boards for a winning tip-in.

Texas-El Paso beats Memphis 60-58

MEMPHIS (AP) Michael Perez scored 15 points and Jacques Streeter added 14 as Texas-El Paso used a second-half rally to defeat Memphis 60-58 on Saturday afternoon.

GOVERNMENT AGENDA

Shelby County Commission Agenda

The Shelby County Commission will meet Monday, Feb. 20, at 1:30 p.m. in the Shelby County Administration Building, 160 N. Main St., to see if there is still a seven-vote majority on the body to pass a new set of district lines and a new commission structure on the second of three readings.

SMALL BUSINESS SPOTLIGHT

Buoni’s Company Lights The Way for Businesses

It seems Nick Buoni started the right kind of business at just the right time.

LOCAL COLUMNISTS

Time For Status Check

Who knows if it will last, but there are signs that the economy is improving. If the improvement continues, it might be a good time to take a very close look at the status of your key employees.

THE MEMPHIS NEWS

Applying Pressure

Small in size, Occupy Memphis movement seeking big change

On Super Bowl Sunday, a group of 20 people huddled near a set of about as many tents on the Civic Center Plaza – the part of the Main Street Mall that is home to City Hall as well as the county, state and federal buildings.

Size Not Integral To Protest’s Punch

The Occupy Memphis movement is a curiosity to most and a serious pursuit for others.

Akan Weights Land In Memphis

One of the biggest art exhibitions to come to the Metal Museum is large in significance even if the individual pieces are tiny.

Hotel Eateries Worth Frequenting Anytime

Last year, in a grand coincidence, two Downtown hotels simultaneously refurbished their restaurants, redecorated, called in consultants, created new concepts or new menus, replaced staff and generally reinvented themselves.

Skip to Spring With Robust Patagonia Red

Shall we pretend that we had winter in our neck o’ the woods? Or shall we capitulate and fire up the grills? That’s how crazily mild a “winter” we’ve had. If you’re of a mind to toss on the coals and crank up the fire, I have a wine for you. Or if you’re braising short ribs or lamb shanks in the oven or on top of the stove, or doing barbecue brisket, the same wine is appropriate.

NATIONAL BUSINESS

Deal Trims Maximum Jobless Benefits to 73 Weeks

WASHINGTON (AP) – Millions of Americans will continue to receive long-term unemployment benefits under legislation approved Friday in Congress, but the scope of the program is being scaled back to cover fewer people by the end of the year.

Dutch Logistics Co. TNT Rejects UPS' $6.43B Bid

NEW YORK (AP) – United Parcel Service, the world's largest package delivery company, said Friday it is still in talks to acquire TNT Express even after the Dutch package delivery company rejected a $6.43 billion bid.

Demand Media Stock Soars as Q4 Results Renew Hope

NEW YORK (AP) Demand Media Inc.'s stock soared by 31 percent Friday after the online content publisher's fourth-quarter earnings and outlook for this year gave investors hope that it is starting to recover from diminished traffic that had stemmed from changes to Google's Internet search formula.

Yelp Looking for $12 to $14 per Share in IPO

SAN FRANCISCO (AP) – Online review service Yelp rated its own business Thursday, setting an IPO target of $12 to $14 per share that could value the 7-year-old company as high as $840 million.

NATIONAL GOVERNMENT

Obama Promotes Steps to Boost US Trade

EVERETT, Wash. (AP) – President Barack Obama on Friday called for more steps to help U.S. companies compete overseas, standing in front of an enormous Boeing Dreamliner to summon a bright future for American manufacturing and exports.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 67 156 11,921
MORTGAGES 77 227 15,577
FORECLOSURE NOTICES 15 57 3,080
BUILDING PERMITS 222 606 28,832
BANKRUPTCIES 82 210 11,517
BUSINESS LICENSES 23 73 4,228
UTILITY CONNECTIONS 87 339 17,522
MARRIAGE LICENSES 18 61 3,625

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