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VOL. 127 | NO. 55 | Tuesday, March 20, 2012

Council Takes on Property Tax Hike

Memphis Mayor A C Wharton Jr. is expected to have some budget cuts when the Memphis City Council meets in committee Tuesday, March 20, to talk about a one-time only property tax increase.

Easing Access

Pool owners face new ADA accessibility regulation

New federal regulations requiring chair lifts and other renovations to public swimming pools went into effect Thursday, March 15, but the tangle of new requirements is leaving many pool owners treading water while they wait for clarity on the rules.

St. Jude Moves Ahead With Tower Construction

St. Jude Children’s Research Hospital is moving forward with the construction of its new seven-story tower, which will serve as a new patient care and research building with space for a number of new programs, surgery suites, an expanded intensive care unit and a revolutionary proton-beam therapy center.

Safety Products Importer Seeks Tax Freeze

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 this week to request a five-year tax freeze.

State Senate Passes Evolution Bill 24-8

NASHVILLE (AP) – The Senate sponsor of a proposal that would protect teachers who allow students to criticize scientific theories like evolution says the legislation is necessary to help teachers know how to respond to questions about such subjects.

Local Weather
Today
Memphis, TN
89°F
Partly Cloudy
Wind: 6 mph
Humidity: 48%

EVENTS

The Better Business Bureau will host a breakfast seminar Tuesday, March 20, from 7:30 a.m. to 9 a.m. at the BBB, 3693 Tyndale Drive. Robert Sutton of Mass Mutual Financial Group will discuss government benefits and special needs planning. Cost is free for BBB-accredited businesses and $10 for guests. For reservations, call Susan Harris at 757-8617.

more events »

Ten Commandments Bill Approved in Tenn. House

NASHVILLE (AP) – The House has voted to allow public buildings to display such "historically significant documents" as the Ten Commandments, the Magna Carta and the Declaration of Independence.

Finard Wraps First Phase of Poplar Plaza Renovation

Finard Properties LLC has completed the first of many phases in redeveloping Poplar Plaza at Poplar Avenue and South Highland Street – a multimillion-dollar project undertaken to ultimately prepare the center for a new Kroger.

Deliberations to Begin in Petties Org Case

Seven weeks ago jury selection began in the largest drug case ever brought in Memphis federal court.

Cost of GED Diploma Going Up

The good news is the General Educational Development test to earn the equivalent of a high school diploma is moving online. The bad news is the cost of taking the test is expected to go up to $125 starting in 2014.

GOVERNMENT AGENDA

Memphis City Council Agenda

The Memphis City Council will meet Tuesday, March 20, at 3:30 p.m. in the Council chambers in City Hall, 125 N. Main St. Click on the icon for an agenda.

REAL ESTATE RECAP

Construction Loan Filed To Develop Lamar Crossing

2881 Lamar Ave., Memphis, TN 38114 -
A $5.4 million construction loan has been filed for Lamar Crossing Apartments at 2881 Lamar Ave., a complex that in recent years has been held by a number of owners and the subject of multiple development efforts.

LOCAL COLUMNISTS

Enjoy Crawfish And Help Kids

Last week we wrapped up our four-part series on a Memphis narrative, featuring numerous heartfelt responses to the question: “What does Memphis mean to you?” Even though we are switching back to a nonprofit spotlight, continue to email us your thoughts and testimonials so we can weave them into our ongoing community efforts. This week let us highlight an organization that is empowering children and families to achieve a healthy, optimal and independent lifestyle: Porter-Leath.

Examining the Latest Market Trends

Last week provided another powerful advance in both equity and fixed income markets. On the equity side, the three major domestic stock indices accomplished impressive feats. After briefly falling back below 13,000 at the end of February, the DJIA (Dow Jones Industrial Average) crept above that level at Tuesday’s close.

STATEWIDE

4 Businesses in Tennessee, State Agency Recognized

NASHVILLE (AP) – A national economic development publication has recognized four businesses in Tennessee for their community impact.

STATE GOVERNMENT

State Seeks Stay of Ruling on 3rd Parties in Tenn.

JOHNSON CITY, Tenn. (AP) – Against the backdrop of the 2012 presidential election, a legal battle is under way that will determine how many roadblocks minor political party candidates face when trying to get on election ballots in Tennessee.

NATIONAL BUSINESS

Apple to Pay Dividend, Start Stock Buybacks

NEW YORK (AP) – Apple is finally acknowledging that it has more money than it needs. But don't expect it to cut prices on iPhones and iPads. Instead, the company said on Monday that it will reward its shareholders with a dividend and a share buyback program.

Citigroup Settles Over Excessive Charges for $1.2M

WASHINGTON (AP) – Citigroup is paying $1.25 million to settle with industry regulators over allegations that it charged customers too much on corporate bond transactions.

Starbucks Opening Evolution Fresh Juice Store

SEATTLE (AP)Starbucks Corp. is pushing beyond coffee with the opening of the first Evolution Fresh Inc. juice store, the company said Monday.

NATIONAL GOVERNMENT

US Gov’t Sells $225B in Mortgage Securities

WASHINGTON (AP) – The U.S. Treasury Department has sold off the final portion of $225 billion in mortgage-backed securities it purchased during the height of the financial crisis.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 109 433 13,330
MORTGAGES 114 591 17,349
FORECLOSURE NOTICES 11 93 3,391
BUILDING PERMITS 0 366 30,930
BANKRUPTCIES 76 352 12,695
BUSINESS LICENSES 21 108 4,597
UTILITY CONNECTIONS 77 564 19,457
MARRIAGE LICENSES 29 151 4,060

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