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VOL. 127 | NO. 26 | Wednesday, February 8, 2012

CRE Outlook Remains Mixed

A sophomore at the University of Memphis could open up an economics book and explain how the United States got to its current state through the laws of demand, diminishing returns and comparative advantage.

Super Bowl MVPs

Analysis: Some ads on fire, others up in flames

Would you write a check for $116,000 for one second of TV airtime?

Tenn. Fiscally Sound but Cuts Needed

Tennessee’s financial ledger is in good shape. The current state budget is balanced. For the first five months of the current budget year, general fund collections have outpaced projections by about $188 million.

Pinnacle Tweaks Terms of Purchase Deal

An agreement reached between Memphis-based holding company Pinnacle Airlines Corp., its subsidiary Colgan Air Inc., Continental Airlines Inc. and United Air Lines Inc. tweaks the terms of a purchase deal between the parties – and hopefully will be one more step toward avoiding bankruptcy by Pinnacle.

Hillwood Buys Former Mazda Warehouse for $13.5M

The former Mazda North America Inc. distribution center in Olive Branch has been acquired by Hillwood Investment Properties for $13.5 million.

Local Weather
Today
Memphis, TN
94°F
Mostly Cloudy
Wind: 12 mph
Humidity: 47%

EVENTS

Talk Shoppe will present “10 Tips to Hiring the Right Person” Wednesday, Feb. 8, from 9 a.m. to 10 a.m. at the Better Business Bureau, 3693 Tyndale Drive. For more information, call Jo Garner at 482-0354.

more events »

Triumph Bank Opens New Germantown Office

Triumph Bank has added a new office - its fifth in the Memphis market.

Home Sales See 8 Pct. Increase

January home sales posted an 8 percent increase compared to the same month a year ago as average pricing remained flat, due in large part to the market’s abundance of foreclosures.

AP Source: Big East Moving Toward Adding Memphis

A person familiar with the talks says the Big East is in discussions with Memphis about the Tigers joining the conference in all sports.

S&N to Pay $22.2M in Settlement

British medical device maker Smith & Nephew – whose Orthopaedic business employs about 2,000 workers in Memphis – announced Monday it had reached a $22.2 million settlement agreement with the Justice Department and the U.S. Securities and Exchange Commission surrounding criminal and civil allegations the company bribed Greek government doctors to secure business.

Fees Part of Device Industry Transparency

The U.S. Food and Drug Administration’s recent preliminary agreement to work toward more predictable, transparent reviews of new medical implants in exchange for doubling user fees for manufacturers could help stabilize the beleaguered medical device industry.

Chef Contest Fiasco ‘Baffles’ MBJ

On Feb. 1, the Memphis Business Journal launched an online bracket competition designed to lead to readers’ selection of the city’s best chef.

Schools Transfer Terms Take Shape

A set of ground rules for how public school buildings are transferred to municipal school districts is in the making despite a tie vote Monday, Feb. 6, that defeated a plan by some on the Shelby County Commission.

MEMPHIS NEWSMAKERS

Logan New Director Of AHA Heart Ball

Sarah Logan has joined the American Heart Association as director of the Heart Ball.

LOCAL COLUMNISTS

Economic Coordinates Mark Spot

Economic advances contain fits and starts. Our “spider senses” lead us to believe that the data received up to this point correlate more with a mid-cycle slowdown than with a late-cycle contraction. To help us with orientation, let’s examine a few economic markers to vector in on our location.

Taking Action Can Prevent Workplace Embezzlement

Embezzlement can be a major embarrassment for a large firm or the kiss of death for a small business.

STATEWIDE

AG: Atlanta's 2nd Airport Could be in Tennessee

GAINESVILLE, Ga. (AP) – Georgia's attorney general says residents should be open to the idea of Chattanooga's airport becoming "Atlanta's second airport."

State Lottery has New Game With $3 Million Prize

NASHVILLE (AP) – The Tennessee Lottery launches a new game on Tuesday with the biggest top prize in the history of the state game.

STATE GOVERNMENT

Rep. Curry Todd Waives Hearing on DUI, Weapon

NASHVILLE (AP) – State Rep. Curry Todd waived a preliminary hearing on drunken driving and weapon charges and his case was sent to a grand jury on Tuesday.

Haslam Plan on Judges Survives Early Challenge

MOUNT PLEASANT, Tenn. (AP) – Gov. Bill Haslam's plan for writing the state's judicial selection system into the Tennessee Constitution survived a challenge Tuesday from a fellow Republican in the state House.

Sponsor Pulls Transport of Illegal Immigrants Bill

NASHVILLE – The sponsor of a bill that would make it a felony to harbor or transport an illegal immigrant has withdrawn the measure from consideration.

NATIONAL BUSINESS

Consumer Borrowing Rose $19.3 Billion in December

WASHINGTON (AP) – Americans accelerated their borrowing in December for the second straight month, running up more credit card debt and taking out loans to buy cars and attend school.

NATIONAL GOVERNMENT

Bernanke Sticks With Low-Rate Policy at Hearing

WASHINGTON (AP) – Ben Bernanke on Tuesday reiterated the Federal Reserve's plan to hold interest rates near record lows until at least late 2014.

Payroll Tax Cut Talks Adrift on Capitol Hill

WASHINGTON (AP) – The prospects for an extension of President Barack Obama's signature payroll tax cut, once considered a slam dunk on Capitol Hill, now seem far less certain as House-Senate talks have deadlocked over finding ways to pay for it.

House Seeks to Unload Unneeded Government Property

WASHINGTON (AP) – The House on Tuesday backed legislation to sell off or consolidate some of the thousands of underused or unneeded federal buildings, potentially saving taxpayers billions of dollars.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 75 255 11,693
MORTGAGES 72 295 15,274
FORECLOSURE NOTICES 3 71 2,982
BUILDING PERMITS 0 392 27,646
BANKRUPTCIES 62 280 11,242
BUSINESS LICENSES 35 98 4,136
UTILITY CONNECTIONS 94 516 17,000
MARRIAGE LICENSES 18 80 3,544

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