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VOL. 127 | NO. 54 | Monday, March 19, 2012

SPECIAL EMPHASIS: Residential Real Estate

Not Apples to Apples

Foreclosures throw wrench into appraisers’ work

The weak demand for housing, coupled with the stout foreclosure inventory, has translated into vast price declines in nearly every one of Shelby County’ 34 ZIP codes, affecting the bottom lines of homeowners and the city alike.

Analysis: Loss to Saint Louis Ends Tigers’ Dreams of Deep NCAA Run

Anything can happen in the NCAA Tournament. See No. 15 seed Norfolk State beating No. 2 seed Missouri. See No. 15 seed Lehigh beating No. 2 seed Duke.

Safety Products Importer and Distributor Seeks Tax Freeze to Expand

International Sourcing Co. Inc., an importer and wholesale distributor of safety products to industrial distributors and retailers, will go before the city-county Economic Development Growth Engine Board next week to request a 5-year tax freeze.

UPS to Buy TNT Express for $6.8 Billion

AMSTERDAM (AP)United Parcel Service Inc. said Monday it will buy Netherlands-based TNT Express NV for $6.77 billion (€5.16 billion) in a cash deal that will create a company with annual sales of €60 billion.

RPAC Keeps Housing On Policymakers’ Minds

Carol Lott understands that some people have misgivings about giving money to politicians, particularly when budgets are tight.

Johnston Finds Life’s Passion With Real Estate Career

Lexie Johnston likes to stay busy – almost to a fault. “I’m pretty restless. In fact, when things get hard, I usually find something else to do,” said the 29-year-old.

Horne Still Growing at 50 Years

Already this year, the Horne LLP accounting and business advisory firm has hired a few tax managers for its Memphis office, and the firm also has brought its tax leadership here.

Group Weighs Schools Logistics

The city charter requires Memphis Light, Gas and Water Division to provide water to the Memphis City Schools system at no charge.

Talks Target Children’s Brain Growth

The Memphis-based Urban Child Institute has teamed with The Neuroscience Institute at the University of Tennessee Health Science Center to host an evening focused on the importance of optimizing brain development in young children.

SMALL BUSINESS SPOTLIGHT

Hayes Survives, Thrives Even in Housing Slump

As a child, Michelle Hayes dreamed of owning her own hotel. Instead of going toe to toe with Hilton and Marriott, however, the Whitehaven native and LeMoyne-Owen College graduate instead entered into the world of real estate in 1998.

LOCAL COLUMNISTS

If the Shoe Doesn’t Fit …

For many years, I paid little attention to the shoes I bought. I typically purchased name-brand shoes – assuming that within reason, shoes were shoes and that I didn’t need to spend much time and effort on shoe selection.

Green Features Changed Game For Appraisers

Energy-efficient home features continue to increase in popularity among consumers, yet placing a value on these “green” products can be challenging.

THE MEMPHIS NEWS

Irish Stories

Immigrants from Ireland find success – and some similarities to their homeland – in Memphis

Throughout the nation’s history, millions of Irish men and women – in an effort to escape poverty, famine, joblessness and English oppression at home – made the journey across the Atlantic seeking fresh starts in the “land of opportunity.”

Easy to Get Lost In Redistricting Mess

The once-a-decade redistricting season may be drawing to a close four or five months later than it was supposed to.

Plenty to Like in Flashy ‘Chicago’

Theatre Memphis hopes to get audiences’ blood pumping with a production that gets away with murder.

A Few Simple Rules For ‘Brown-Bagging’

We don’t hear the term “brown-bagging” much now. It was a holdover from the time when the city of Memphis did not allow liquor by the drink in restaurants, so if patrons wanted a cocktail, they had to bring their own liquor to the restaurant, often inside a brown paper bag, and pay for set-ups. The city did not rescind that ordinance until 1972.

Stock Up On Lovely Rioja From Spain

Rush right out and buy a few bottles of this wonderfully appealing yet suitably serious example of Rioja, from Spain’s most renowned wine region. Burgo Viejo Reserva 2006, Rioja, was produced by a cooperative established by six families in 1987, since grown to 16 families.

NATIONAL BUSINESS

6 Months Later, What has Occupy Protest Achieved?

NEW YORK (AP) – As spring approaches, Occupy Wall Street protesters who mostly hibernated all winter are beginning to stir with plans for renewed demonstrations six months after the movement was born.

Goldman Manifesto Echoes Past Questions About Bank

The young banker whose dramatic public resignation stung Goldman Sachs this week joins officials from every corner of the government in questioning whether the august investment house deals honestly with all its clients.

NATIONAL GOVERNMENT

CBO: Obama Budget Produces 2013 Deficit of $977B

WASHINGTON (AP) – A new analysis of President Barack Obama's budget for next year says the deficit scenario isn't as rosy as the White House painted it.

HEALTH CARE

CDC Launching Graphic Anti-Smoking Ad Campaign

ATLANTA (AP) – In a graphic new ad campaign announced Thursday, the government is trying to shock smokers into quitting with the sometimes-gruesome stories of people damaged by tobacco products.

Gay Helps Grizzlies Get by Wizards, 97-92

MEMPHIS (AP) – After playing in a first-half funk, the Memphis Grizzlies finally relied on better team basketball in the second half.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 65 366 17,721
MORTGAGES 70 417 23,068
FORECLOSURE NOTICES 15 91 4,519
BUILDING PERMITS 210 932 42,157
BANKRUPTCIES 62 299 16,691
BUSINESS LICENSES 19 80 5,781
UTILITY CONNECTIONS 49 305 25,174
MARRIAGE LICENSES 16 96 5,381

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