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VOL. 127 | NO. 39 | Monday, February 27, 2012
SPECIAL EMPHASIS: Financial Services

Waddell Turns Page on ‘Funky’ Year

The parting remark David Waddell left with the audience at his company’s yearly “State of the Union” presentation this time last year was that he wanted them all to be optimistic in 2011.

Encouraging Signs

Morgan Keegan employees get glimpse into Raymond James culture

In the weeks since it was announced last month that Raymond James Financial Inc. is paying $930 million to acquire Memphis-based Morgan Keegan & Co. Inc., more than 550 Morgan Keegan employees have trekked down to St. Petersburg, Fla.

Tenn. Supreme Court: Abuse Case Can Proceed

The Tennessee Supreme Court ruled Monday, Feb. 27, that allegations of child sexual abuse 40 years ago involving the Catholic Diocese of Memphis can go forward.

On Location: MEMPHIS Announces Festival Lineup

On Location: MEMPHIS has announced the official selection for its annual international film and music festival to be held April 19-22.

Local Weather
Today
Memphis, TN
59°F
Mostly Cloudy
Wind: 17 mph
Humidity: 67%

EVENTS

The Tennessee Beta Unit of Parliamentarians will meet Monday, Feb. 27, at 5:45 p.m. at the Poplar-White Station Branch Library, 5094 Poplar Ave. Those interested in expanding their knowledge of parliamentary law and Robert’s Rules of Order are welcome to attend.

more events »

"Undefeated" Wins Oscar for Best Documentary

A documentary about one season in the football program at Manassas High School in North Memphis won an Academy Award Sunday night for best documentary feature.

ADDY Awards Highlight Ad Industry's Top Work

The gold-plated columns and crystal chandeliers of The Cadre Building were right in line with the American Advertising Federation Memphis’ 2012 ADDY Awards ceremony, themed “Hustle + Workflow.”

Privatization Thoughts Highlight Changes

Here’s a roundup of what some of the city’s banks and bankers, investment professionals, mortgage brokers, asset management firms and other financial services shops have been up to in recent weeks.

Garrett Finds Banking Home at Metropolitan

Do something that makes you happy, and if it’s banking, always deliver on your promises. That sums up the professional philosophy of Maria Garrett, a recent hire at Metropolitan Bank who brought 12 years of industry experience to her new job as a senior managing director.

Pinnacle CEO: United, ALPA Negotiations Remain

The CEO of Memphis-based Pinnacle Airlines Corp. has told employees that he and the regional air carrier’s leadership have completed their restructuring of the organization.

Navy SEAL Shares Missions for Success

David Rutherford had an epiphany in the laundromat during his fourth year of college. He had turned down the wrong path in life, partying too hard and studying too little. He was going astray, so he made a drastic change.

Planning Group Hears of Structure Proposal

Next school year, a group of 112 schools in the separate Memphis City Schools and Shelby County Schools systems will operate outside the framework used by each of the school systems for governing their other schools.

EdR Sees Q4 Net Loss of $5.8M

The same day Memphis-based EdR announced it would have a majority interest in developing, owning and managing a $36 million cottage-style community near the University of Mississippi, the collegiate housing company reported a fourth quarter net loss of $5.8 million compared to fourth quarter 2010.

Panel: State Has ‘Robust’ Bioscience Community

Members of the region’s scientific, medical, academic and business communities seeking more knowledge about innovative early-stage investment strategies in the biosciences packed the ballroom of The University Club, 1346 Central Avenue, on Thursday, Feb. 23, for a panel discussion hosted by Memphis Bioworks Business Association.

Wright Medical Q4 Net Sales Fall 8 Pct.

Wright Medical Group Inc. reported its net sales fell 8 percent to $126.9 million in the fourth quarter, compared to $138.3 million during the same period in 2010.

Petties Org Drug Trial Hits Fourth Week

The Craig Petties drug organization trial has settled into some predictable rhythms as it begins its fourth week Monday, Feb. 27, in Memphis Federal Court.

SMALL BUSINESS SPOTLIGHT

Triumph Bank’s Mantra: Say ‘Yes’ to Customer

Entrepreneurs get in the game for many different reasons. They do it to make money, certainly, and to maintain a degree of control over that money and their professional lives.

LOCAL COLUMNISTS

‘If Only’ Answer Is Balance

A lot of you probably have to manage your fair share of “if only” employees. People who love to constantly and vocally proclaim, “I could do a better job if only I had this, or if only I had that. If only I had more people, or more time, or more money, or more whatever – I could make big things happen around here.”

Banks Should Focus on Risk Assessment

After the turmoil of the Great Recession, the next few years will be an exciting time for community banks and community bankers.

THE MEMPHIS NEWS

Room Service

Hotel market sees improvement as change looms on the horizon

The good news for the local hotel industry is that last year notched the most rooms ever sold on a daily basis with 4.8 million – 115,628 more than 2010 and 76,780 more than the previous high set in 2007.

More Work Needed Before May Referenda

Municipal school districts may be a good idea.

Opus One Turns Up Latin Heat

The Memphis Symphony Orchestra’s Opus One concert series mixes local singers with classically trained musicians in unusual venues for a mixture of sounds.

Doggy Bags Exemplify American Wastefulness

Blame it on dogs.

Sauvignon Blanc True To its Grapes

Awine of purity and intensity is one that is faithful to the grapes from which it is made and that displays the character of those grapes with marked eloquence and lack of interference. Such a one is the Hall Sauvignon Blanc 2010, Napa Valley.

STATEWIDE

IRS Says 18K Tennesseans Could Get 2008 Refunds

As taxpayers prepare their income tax returns for 2011, the Internal Revenue Service is still holding millions that are owed to Tennessee residents from 2008.

STATE GOVERNMENT

GOP Discuss Need for 'Don't Say Gay' Ban

NASHVILLE (AP) – Legislation that would ban the teaching of gay issues to elementary and middle school students may be stalled, as Republican lawmakers discuss whether they should proceed with the bill.

NATIONAL BUSINESS

EW Scripps Q4 Profits Fall as Political Ads Dry Up

CINCINNATI (AP)The E.W. Scripps Co. said Friday that its fourth-quarter net income fell, even as declines in the media company's newspaper business moderated.

SPORTS

Rudy Gay to be Honored by UConn

STORRS, Conn. (AP) – Former University of Connecticut basketball star Rudy Gay's name is being added to the "Huskies of Honor" wall at Gampel Pavilion.

TECHNOLOGY

Study: We're Getting Less Friendly on Facebook

CHICAGO (AP) – Whether it's pruning friends lists, removing unwanted comments or restricting access to their profiles, Americans are getting more privacy-savvy on social networks, a new report found.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 72 368 16,413
MORTGAGES 66 422 21,432
FORECLOSURE NOTICES 15 76 4,266
BUILDING PERMITS 176 877 39,378
BANKRUPTCIES 60 294 15,542
BUSINESS LICENSES 20 98 5,491
UTILITY CONNECTIONS 69 423 23,573
MARRIAGE LICENSES 17 95 5,035

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