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VOL. 127 | NO. 138 | Tuesday, July 17, 2012

Loeb Inks Overton Square Deal With Bar Louie

Bar Louie, an Addison, Texas-based neighborhood restaurant and bar franchise, is the latest retail tenant that has signed on for Overton Square.

Music on the Move

Local musicians serenade trolley riders

When the Memphis and Shelby County Music Commission first tried out its idea recently to put local musicians aboard the Downtown trolley to entertain passengers, singer Nancy Apple led a kind of trial run.

Strickland and Conrad Pitch South Cordova DeAnnexation

Memphis City Council members Jim Strickland and Kemp Conrad want the city to consider the deannexation of the South Cordova area taken in by the city of Memphis earlier this month.

George W. Bush Talks Post-White House Life in Memphis

Though the main attraction at a private gathering at the Dixon Gallery & Gardens Monday, July 16, included former President George W. Bush, it was a mostly nonpolitical evening.

Q2 Mortgages up 14 Percent

Shelby County’s mortgage market is continuing to turn a corner, with more buyers during the second quarter signing on the dotted line and bankers handing over a shiny new set of keys.

Local Weather
Today
Memphis, TN
82°F
Mostly Cloudy
Wind: 9 mph
Humidity: 71%

EVENTS

The Booksellers at Laurelwood will host a life-coaching workshop with Cynthia Schulz Tuesday, July 17, at 6 p.m. at the bookstore, 387 Perkins Road Extended. Schulz’s presentation is titled “Failure is Never Final.” Visit thebooksellersatlaurelwood.com.

more events »

June Mortgages Up 7 Pct.

Local banks and mortgage lenders made 7 percent more mortgages during June 2012 than they did in June 2011, according to data from real estate information company Chandler Reports, www.chandlerreports.com.

County Commission Delays Chairman Vote After 21 Ballots

Shelby County Commissioners put off electing a chairman for the next year’s term Monday, July 16, after 21 rounds of voting in which no one got seven votes.

Hillwood Buys Industrial Portfolio for $37M

Hillwood Investment Properties has bought an industrial portfolio in Southeast Memphis for $37.25 million from TIAA Realty Inc., augmenting the Dallas-based commercial real estate firm’s budding local footprint.

Teleflex Lease Marks Largest In Two Years

Medical device company Teleflex Inc. has inked a substantial lease in DeSoto County, continuing to reduce the availability of Class A bulk inventory in the local industrial market.

Sales Tax Ballot Question Part of Busy Council Day

Memphis City Council members take a final vote Tuesday, July 17, on a Nov. 6 ballot question that would raise the local option sales tax rate in Memphis by half a percent.

Minority Business Development Agency Opens State’s First Business Center in Memphis

The U.S. Department of Commerce’s Minority Business Development Agency (MBDA) Friday officially opened its first business center in the state of Tennessee at 158 Madison Ave., Suite 101, in Downtown Memphis.

Numerous Issues Drive Early Voting

Republicans have the suburban ballot questions on municipal school districts. Democrats have outrage over the voter photo ID state law.

Challenge of Voter ID Law Comes Into Focus

The way to a court challenge of Tennessee’s voter identification law from Memphis takes a few twists and turns away from the polling place.

GOVERNMENT AGENDA

Memphis City Council Agenda

The Memphis City Council will meet Tuesday, July 17, at 3:30 p.m. in the Council chambers in City Hall, 125 N. Main St. Click on the meeting icon for a full agenda.

REAL ESTATE RECAP

Hickory Hill Warehouse Sells for $1.3 Million

5837 Distribution Drive, Memphis, TN 38141 -
Memphis-based CLI Inc. has bought the 102,570-square-foot warehouse at 5837 Distribution Drive in Hickory Hill for $1.3 million from Tenoh LLC. The sale closed July 11.

LOCAL COLUMNISTS

A 24/7 Lifeline To Hope

Last week we discussed tnAchieves, which is an initiative focused on increasing higher education opportunities for Tennessee students by providing last-dollar scholarships with mentor guidance. This week let us spotlight a volunteer-powered agency serving as an emotional lifeline through compassionate, non-biased, 24-hour live telephone support: the Memphis Crisis Center.

MEMPHIS AREA

A Year After Floods, Shippers Face low Miss. River

MEMPHIS, Tenn. (AP) — A year after the Mississippi River swelled to near-historic proportions and flooded farms and homes from Illinois to Louisiana, the level along the waterway's southern half is so low that cargo barges have run aground and their operators have been forced to lighten their loads.

STATEWIDE

Ed Department Releases Evaluation Report

NASHVILLE, Tenn. (AP) — The Tennessee Department of Education has released a report to lawmakers that addresses educators' concerns about the way certain test scores are used to evaluate teachers.

Hearings on Insurance Under Federal Plan Begin

NASHVILLE, Tenn. (AP) — Tennessee will hold six hearings on the Affordable Care Act provision of essential health benefits.

NATIONAL BUSINESS

US Economy Appears Weaker as Retail Sales Slump

WASHINGTON (AP) — The outlook for the U.S. economy appeared dimmer Monday after a report that Americans spent less at retail businesses for a third straight month in June.

IMF Predicts Slower Economic Growth for World, US

WASHINGTON (AP) — The global economy will grow more slowly over the next two years, according to the International Monetary Fund's latest forecast.

US Business Stockpiles Grew 0.3 Percent in May

WASHINGTON (AP) — U.S. companies added to their stockpiles in May. But their sales fell for a second straight month, adding to worries that the economy has slowed.

NATIONAL GOVERNMENT

Senate Dems Ready $272B Tax-Cut Extension Bill

WASHINGTON (AP) — The highest earning Americans would pay a top rate of 23.8 percent for capital gains and dividends next year under a $272 billion, one-year extension of tax cuts that Senate Democrats are circulating among themselves.

HEALTH CARE

Repealing Obama's Health Care Law Won't be Easy

WASHINGTON (AP) — Yes, if Mitt Romney wins the White House and his Republican allies retake the Senate, he could shred most of President Barack Obama's health care law without having to overpower a Democratic filibuster.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 45 269 13,925
MORTGAGES 99 397 18,223
FORECLOSURE NOTICES 0 55 3,560
BUILDING PERMITS 0 430 32,733
BANKRUPTCIES 74 285 13,288
BUSINESS LICENSES 13 81 4,786
UTILITY CONNECTIONS 148 455 20,354
MARRIAGE LICENSES 24 96 4,293

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