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VOL. 127 | NO. 58 | Friday, March 23, 2012

FedEx Reports 126 Pct. Earnings Increase

Memphis-based FedEx Corp. reported net earnings for its third quarter of $521 million or $1.65 a share compared with $231 million in earnings a year ago or 73 cents a share.

Spring Break Service

Students repair homes during SOS camp

Like many college students, Annie Marcum and Lisa Stockdale of South Carolina’s Clemson University had planned to spend spring break enjoying the beach.

FedEx to Pay $3M in Discrimination Case

U.S. Labor Secretary Hilda Solis and Patricia Shiu, director of the Labor Department’s Office of Federal Contract Compliance Programs, unveiled the details Thursday, March 22, of a $3 million settlement with FedEx Ground related to thousands of workers turned down for jobs over the last several years.

Batum Leads Blazers to 97-93 Win Over Grizzlies

PORTLAND, Ore. (AP) – This season is not a lost cause to the Portland Trail Blazers.

School Board Rejects Building Transfer Rules

Countywide school board members rejected Thursday, March 22, an agreement with county government on the possible transfer of school buildings to municipal school districts that would check possible legislation in Nashville on the same general subject.

Local Weather
Today
Memphis, TN
81°F
Partly Cloudy
Wind: 10 mph
Humidity: 41%

EVENTS

The In-Synk Business Growth series will continue Friday, March 23, from 8:30 a.m. to 9:30 a.m. at Commercial Bank & Trust, 510 S. Mendenhall Road. The topic is “Would You Enthusiastically Rehire Your Team?” The cost is $49. Visit in-synkccc.eventbrite.com to register.

more events »

Monroe Ave. Bldg. Sells For $3.3M

A fully leased Downtown office building has traded hands for more than twice its assessed value.

TDN Seminar to Focus on Health Care Reform

Friday, March 23, marks the second anniversary of the signing of the Affordable Care Act, whose complexities continue to leave many business owners confused.

Muni School District Votes on Hold

At week’s end, the move to municipal school districts had slowed for a possible pit stop in Shelby County Chancery Court.

Wharton Starts Whistleblower Program

The complaint that prompted Memphis Mayor A C Wharton Jr. to open an investigation into the city’s General Services division was an anonymous letter.

Yorkshire Center Adds Las Delicias to Mix

A popular Mexican restaurant has inked its third Memphis-area lease. 

MEMPHIS STANDOUT

Paytopia CEO Seeks to ‘Fix’ E-Commerce

Editor’s note: This is the first in a six-part series on entrepreneurs in the current round of Seed Hatchery’s boot camp.

SPORTS

Season Evaluation: Pastner Discusses Roller Coaster Year

The interviewer asked University of Memphis coach Josh Pastner if he knew how all coaches, no matter the sport, were evaluated. Pastner nodded as he received the question and smiled.

Grizz Again Seeking New Team Identity

The Grizzlies’ Lionel Hollins might have just made something up. It probably would have been easier. Instead, his answer to the question of how the Grizzlies were adjusting to the return of Zach Randolph was just honest.

LOCAL COLUMNISTS

Sam’s Slice of Memphis

For Pete’s sake, it’s Sam’s. And it always will be. Turning basic things into things Memphis is part of our storytelling alchemy. Some mixture of food, drink and funky has to be involved in the telling, and the telling should take a while. Sometimes the stage itself may be the story.

Boards Should Establish Legal Policies

Part two of a three-part series Legal issues abound in all areas of life, including nonprofits. We asked local Memphis attorney Van Turner, a partner in the law firm of Brittenum Bruce PLLC and an experienced board member, for general guidance regarding the law and nonprofits.

NATIONAL BUSINESS

US Unemployment Aid Applications Hit 4-Year Low

WASHINGTON (AP) – The number of people seeking U.S. unemployment aid fell to a four-year low last week, bolstering the view that the job market is strengthening.

American Airlines Aims to Cancel Labor Contracts

NEW YORK (AP) – American Airlines will ask a federal bankruptcy judge next week to throw out its union contracts if it can't reach cost-cutting deals with labor unions.

Gauge of US Economy Rose 0.7 Percent in February

WASHINGTON (AP) – A measure of future U.S. economic activity rose in February for the fifth straight month, fresh evidence that the economy is gaining momentum.

NATIONAL GOVERNMENT

Senate Passes Small Business Investment Bill

WASHINGTON (AP) – Legislation to help startup companies raise capital by reducing some federal regulations won easy passage in the Senate Thursday despite warnings from some Democrats that less government oversight would mean more abuse and scams.

US Watchdog Questions Spending at Fannie, Freddie

WASHINGTON (AP) – A U.S. government watchdog is questioning $600,000 that taxpayer-funded Fannie Mae and Freddie Mac spent on an October convention, according to a report released Thursday.

Average IRS Refund This Year About $3K, Chief Says

WASHINGTON (AP) – That nice Internal Revenue Service refund check many families eagerly await this time of year is down slightly from 2011 but still not too shabby: an average of about $3,000.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 79 146 10,368
MORTGAGES 95 202 13,529
FORECLOSURE NOTICES 19 43 2,687
BUILDING PERMITS 0 393 24,700
BANKRUPTCIES 62 122 10,014
BUSINESS LICENSES 21 37 3,773
UTILITY CONNECTIONS 99 248 14,805
MARRIAGE LICENSES 27 58 3,225

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