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VOL. 127 | NO. 141 | Friday, July 20, 2012

Loeb Closes on $7M Purchase of Overton Square

Loeb Properties Inc. has closed its $7 million acquisition of Overton Square, after many months of negotiations with former owner, Denver Colo.-based Overton Square Investors LLC.

Breaking Barriers

Homeless Connect tries to bring homeless home

It seems simple. Match the homeless with homes.

National Capital Management Expands

National Capital Management LLC has expanded by 3,900 square feet on the third floor at Southwind Office Center A, bringing the company’s total lease to 12,253 square feet.

Lucy Votes Won't Count In Millington Elections

The votes of citizens in the Lucy area near Millington on the municipal school district issue or in Millington elections for mayor and the board of aldermen will not count because the recent annexation of the area is on hold.

Q2 Bankruptcies up 6.5 Percent

Bankruptcy filings in West Tennessee increased overall in the second quarter of 2012, although Chapter 7 bankruptcies, filed by the most hard-pressed debtors, fell slightly, according to The Daily News Online, www.memphisdailynews.com.

Local Weather
Today
Memphis, TN
83°F
Partly Cloudy
Wind: 14 mph
Humidity: 46%

EVENTS

The Orpheum Theatre will present “The Princess Bride” as part of its summer classic movie series Friday, July 20, at 7:15 p.m. at the theater, 203 S. Main St. Visit orpheum-memphis.com or call 525-3000 for tickets.

more events »

Fed: Memphis Area Improves Modestly

The Federal Reserve believes the economy of the central bank’s regional district that includes Memphis “continued to expand” modestly in June and early July.

MEM Reports 18.1 Pct. Drop in Passengers

Memphis International Airport saw an 18.1 percent drop in passengers for the fiscal year that ended June 30.

Midtown Merchants Form Madison Biz Association

Merchants along Madison Avenue from Cleveland to Cooper streets are forming a business association.

MEMPHIS STANDOUT

Signature’s Marshall Leads Renovation Effort

When Charles Marshall co-founded Signature Advertising & Marketing Solutions with Mark Henry in 1994, the two were the firm’s only employees.

LOCAL COLUMNISTS

John or Bill

A PROPHET IS NOT WITHOUT HONOR, SAVE AROUND HERE. If William Faulkner looked out the window on this cloudy day he would see the still and always green magnolia leaves still and always sad still and always there still and always reminding remanding back still and always back in the sunless indolent superheated moment between a dark brooding now the even darker starker truth of then and the oppressive promise hanging in the coming storm of repeating the moment still and always the same.

Preparing to Hire

You can never hire enough people to help with fundraising. If you are strategic you will look for individuals with volunteer management experience who can help build and support a diverse team of fundraising volunteers. This is different from hiring someone to “solve all your fundraising problems.” While most written job descriptions don’t include the previous phase, the idea is often an unspoken desire that drives hiring decisions. Our advice: acknowledge your desire; then work diligently to identify the right person with the right skills. Fundraising experience is not enough. We suggest keeping the following qualities in mind as you proceed.

STATEWIDE

State Jobless Rate in June Rises by 0.2 Percent

NASHVILLE, Tenn. (AP) — Tennessee's unemployment rate rose 0.2 percent in June to 8.1 percent.

State Warns About Scam to Pay Utility Bills

NASHVILLE, Tenn. (AP) — State officials are warning about a scam in which perpetrators offer to arrange payments of consumers' utility bills.

REGIONAL

Exceptional Drought Area Worsens in Arkansas

LITTLE ROCK, Ark. (AP) — Nearly 11 percent of Arkansas is experiencing exceptional drought conditions and the rest of the state shows scant improvement, despite a little rain last week, according to data released Thursday by the U.S. Drought Monitor.

Miss. Granted No Child Left Behind Waivers

JACKSON, Miss. (AP) — Mississippi interim state superintendent Lynn House says a waiver from key provisions of the No Child Left Behind law means schools will have more flexibility with public education.

NATIONAL BUSINESS

US Economic Data Add to Signs of Slowing Recovery

WASHINGTON (AP) — A raft of economic news Thursday sketched a picture of a weakening U.S. economy held back by sluggish home buying and factory production.

Jobless Claims Rise to 386K on Seasonal Factors

WASHINGTON (AP) – The number of Americans seeking unemployment benefits rose by 34,000 last week, a figure that may have been skewed higher by seasonal factors.

Higher Prices Lift Union Pacific Q2 Profit 28 Pct.

OMAHA, Neb. (AP) — Union Pacific said Thursday that its second-quarter net income surged 28 percent, as the nation's largest railroad collected higher prices and fuel surcharges and handled slightly more cargo. Its shares rose 3.5 percent by the afternoon after hitting an all-time high earlier.

Nucor Shares Hammered After Q2 Earnings Drop

CHARLOTTE, N.C. (AP) — Nucor Corp. said Thursday that its net income slid 63 percent in the second quarter, dragged down by a joint-venture charge and expense connected to an acquisition.

Morgan Stanley Closes a Bleak Bank Earnings Season

NEW YORK (AP) — It's tough being a big bank these days.

Walgreen, Express Scripts Sign New Agreement

The Walgreen pharmacy chain will begin filling prescriptions from customers in the Express Scripts network again starting in September under a new multiyear contract that ends a costly impasse between the companies.

Corn, Soybean Prices at Record Highs on Crop Woes

Prices for corn and soybeans hit all-time highs Thursday as questions built about the extent of damage to the crops from the merciless summer heat.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 67 67 10,289
MORTGAGES 107 107 13,434
FORECLOSURE NOTICES 24 24 2,668
BUILDING PERMITS 393 393 24,700
BANKRUPTCIES 60 60 9,952
BUSINESS LICENSES 16 16 3,752
UTILITY CONNECTIONS 149 149 14,706
MARRIAGE LICENSES 31 31 3,198

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The Memphis News: Business, politics, and the public interest.