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VOL. 127 | NO. 40 | Tuesday, February 28, 2012

AutoZone Reports 12.7 Pct. Rise in Profit

Memphis-based auto parts retailer AutoZone Inc. reported net income for its second quarter ended Feb. 11 of $166.9 million, a 12.7 percent gain over the same period last year.

Celebration of Creativity

ADDYs honor city’s best advertising campaigns, professionals

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.”

Sullivan Branding Inks Toyota Center Deal

Sullivan Branding has finalized its lease in the Toyota Center, where it will move about two-thirds of its workforce by the end of the week.

Oxford Diagnostic Labs Brings Jobs to Memphis

Oxford Diagnostic Laboratories Monday unveiled its new state-of-the-art 35,000-square-foot facility at 5846 Distribution Drive, which is expected to bring a total of roughly 40 new jobs to Memphis within the next year, and as many as 65 new jobs total in the future.

Morgan Keegan’s Pettey Recognized by Barron’s

John Pettey III, a managing director with Morgan Keegan & Co. Inc., has been named to Barron’s list of “The Top 1,000 Advisors” in the country.

Local Weather
Today
Memphis, TN
44°F
Mostly Cloudy
Wind: 10 mph
Humidity: 55%

EVENTS

The Memphis Rotary Club will meet Tuesday, Feb. 28, at noon at the University Club of Memphis, 1346 Central Ave. Andy Cates of Colliers International will speak. Cost is $18 per person. For reservations, email Taylor Hughes at taylor@memphisrotary.org.

more events »

Lester and Gordon Elementary Get State-Run Charter Schools

Lester Elementary School and Gordon Elementary School will be converted to state-run charter schools under the state’s achievement school district.

Calvary Kicks Off Lenten Festivities

In a Memphis tradition dating back to 1928, locals from all walks of life gather each weekday during Lent at Calvary Episcopal Church to nourish their bodies with warm, home-cooked meals and their souls with the word of God and the fellowship of neighbors.

Early Voting in Primary Ends Tuesday

Early voting could top 10,000 ballots if the voting in advance of the March 6 Election Day continues at last week’s pace.

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.

‘Wheel’ Now in Motion for New School System

Those on the schools transition planning commission called it “the wheel.” Bartlett Mayor Keith McDonald called it “the wheel of education.”

Miconi Finds Success During First Year

Start-up firm Miconi Project Management has completed several projects in the Memphis area in recent months, and has more in the pipeline.

REAL ESTATE RECAP

Downtown Mixed-Use Bldg. Sells for $1.5M in Foreclosure

92-96 S. Main St., Memphis, TN 38103 -
Community Bank, North Mississippi, has bought back nine condominiums and about 2,700 square feet of commercial space at 92 S. Main St. and 96 S. Main St. in One One O’ Six Lofts Condominiums at a foreclosure sale, paying $1.5 million for the properties.

LOCAL COLUMNISTS

RE Market to Improve in 2012

When I am asked, “How’s the real estate market?” I often think I sound like a broken record: “Inventories are good, mortgage rates are at historic lows, now is the best time ever to buy.”

Memphis According to Memphians

Last week we asked readers “What does Memphis mean to you?” This question is the driving force behind the creation of a community narrative that will help us align our efforts and come together with a shared voice so we can sing about our city in pitch-perfect unison and harmony.

STATE GOVERNMENT

New iPhone App Connects to State Legislature

NASHVILLE (AP) – A new iPhone app billed as the first of its kind in Tennessee allows users to connect with members of the current Legislature.

NATIONAL BUSINESS

Latest Attempt to Raise Airfares Stalls

DALLAS (AP) – Airlines have already imposed two broad fare increases in 2012, but the latest effort to raise prices is stalling.

Warren Buffett Reiterates Call for Tax Reforms

OMAHA, Neb. (AP) – Billionaire Warren Buffett continues to call for tax reforms and a higher tax rate for wealthy investors like himself.

Buffett Says Newspapers Need to Charge Online

OMAHA, Neb. (AP) – Warren Buffett says newspapers need to stop giving away their product for free online, but they will have a decent future if they continue delivering information that can't be found elsewhere.

Warren Buffett Says Plan to Replace Him Unchanged

OMAHA, Neb. (AP) – Billionaire investor Warren Buffett says Berkshire Hathaway's plan to replace him eventually hasn't really changed.

Buffett Says Stocks, Homes Cheaper Now

OMAHA, Neb. (AP) – Billionaire Warren Buffett said Monday, Feb. 27, that stocks remain relatively cheap compared to other investments as the economy continues to improve. He also said that the company he heads is prepared to replace him whenever the need arises.

NATIONAL GOVERNMENT

Pressure Builds for Civilian Drone Flights at Home

WASHINGTON (AP) – Heads up: Drones are going mainstream.

REAL ESTATE

Gov't Moves to Convert Foreclosures to Rentals

WASHINGTON (AP) – The government is looking to sell off some of its stock of homes in foreclosure.

TECHNOLOGY

Verizon Dropping Muslim Lifestyles Station

BUFFALO, N.Y. (AP) – A first-of-its kind Muslim lifestyles station launched in upstate New York by a man later convicted of beheading his wife is being dropped from the Verizon FiOS lineup.

Harry Potter E-Books Coming to Schools, Libraries

NEW YORK (AP) Harry Potter e-books are coming to schools and libraries, at a date to be determined.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 63 269 16,682
MORTGAGES 85 313 21,745
FORECLOSURE NOTICES 0 56 4,322
BUILDING PERMITS 0 209 39,587
BANKRUPTCIES 65 287 15,829
BUSINESS LICENSES 16 67 5,558
UTILITY CONNECTIONS 126 413 23,986
MARRIAGE LICENSES 22 94 5,129

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