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VOL. 127 | NO. 85 | Tuesday, May 1, 2012

Council Takes First Votes on City Budget

Memphis City Council members take the first formal votes Tuesday, May 1, on a city budget and tax rate for the fiscal year that begins July 1. But the ordinances on the agenda come with no dollar amounts or tax rate at this point.

Roots of Faith

Paul Tudor Jones honored as distinguished alumnus by PDS

The man who correctly predicted the stock market convulsion of 1987, a veteran hedge fund manager who today is one of the richest men in America, held up a notebook at a celebration in his honor late last week.

Local Gastropub Picks Overton Square for 2nd Locale

After having a popular Downtown presence for more than two years, Local Gastropub has inked its second location in Overton Square.

Tenn. Senate Approves Muni Schools Referendums

The Tennessee State Senate gave final approval Monday, April 30, to legislation that sets the stage for referendums this year in Shelby County’s suburbs on forming municipal school districts.

Delta Subsidiary to Buy Pa. Refinery

Delta Air Lines announced Monday, April 30, that its Monroe Energy LLC subsidiary has an agreement to buy the Trainer oil refinery south of Philadelphia from Phillips 66 for a $150 million investment.

Local Weather
Today
Memphis, TN
44°F
Cloudy
Wind: 7 mph
Humidity: 68%

EVENTS

The Southaven Chamber of Commerce will hold its quarterly luncheon Tuesday, May 1, from 11:30 a.m. to 1 p.m. at the Landers Center, 4560 Venture Drive in Southaven. University of Memphis head football coach Justin Fuente will speak. Cost is $25 for members and $35 for nonmembers. Register at southavenchamber.com or by contacting Ginger Adams at gadams@southavenchamber.com or 662-342-6114.

more events »

Conference Stresses Power Of Social Media

The Memphis-based Alliance for Nonprofit Excellence is gearing up for its seventh annual conference, and this year’s theme focuses on ways nonprofits can harness the power of social media and build connected communities in this fast-paced information age.

Restaurants Make Market Entrée at Crescent Center

The Poplar/240 corridor soon will add a pair of national restaurant tenants to its already booming portfolio of dining options.

DOJ: ‘Fundamental Misunderstanding’ Exists In Local Juvenile Court

The U.S. Justice Department report critical of Memphis-Shelby County Juvenile Court released last week is the fourth since May 2007 on court operations.

Hart Brings Different Perspective of System

There was a time when Tomeka Hart vowed never to return to her hometown, Memphis.

GOVERNMENT AGENDA

Memphis City Council Agenda

The Memphis City Council will meet Tuesday, May 1, 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

Highland Meadows Sells for $5.5 Million

5045 Airways Blvd., Memphis, TN 38116 -
A New York company has paid $5.5 million for the 624-unit Highland Meadows Apartments on Airways Boulevard. Highland Meadows Partners LLC closed on its purchase from Eagle SPE Multi I Inc. on Wednesday, April 25.

LOCAL COLUMNISTS

Giving Leads To Receiving

Last week we spotlighted Mid-South Food Bank, which is fighting hunger through the efficient collection and distribution of wholesome food as well as through education and advocacy. Inspired by a recent visit from the legendary running back Herschel Walker, this week let us reflect on his examples of how giving back has opened doors and led to opportunities that have yielded great success in his business and personal life.

Market Party Going Strong

Still Growing Last week offered testimonials from three key contributors to this market’s advance. We received preliminary U.S. GDP numbers, we passed the earnings season halfway point, and we obtained policy affirmations from key global central banks. When shaken and poured, these ingredients combined into a delightful cocktail that kept the stock market party going.

STATE GOVERNMENT

Tenn. Lawmakers Still Trying to Conclude Business

NASHVILLE (AP) – Tennessee lawmakers edged closer Sunday to adjourning several weeks earlier than usual, but they continued to engage in end-of-session wrangling as intense as ever.

Lawmakers Reach Agreement on Governor's Budget

NASHVILLE (AP) – A panel of Republican and Democratic lawmakers reached an agreement late Friday that will restore funding for key projects in Gov. Bill Haslam's more than $31 billion spending plan.

NATIONAL BUSINESS

Consumer Spending Slowed in March, Income Rose

WASHINGTON (AP) — Americans increased their spending more slowly in March, suggesting some are worried that their paychecks aren’t growing fast enough.

NATIONAL GOVERNMENT

Top EPA Official Resigns Over 'Crucify' Comment

WASHINGTON (AP) – The Obama administration's top environmental official in the oil-rich South and Southwest region has resigned after Republicans targeted him over remarks made two years ago when he used the word "crucify" to describe how he would go after companies violating environmental laws.

TECHNOLOGY

B&N, Microsoft Team Up on Nook, College Businesses

NEW YORK (AP) – Books and bits united Monday as Microsoft provided an infusion of money to help Barnes & Noble compete with top electronic bookseller Amazon. In exchange, Microsoft gets a long-desired foothold in the business of e-books and college textbooks.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 65 366 17,721
MORTGAGES 70 417 23,068
FORECLOSURE NOTICES 6 82 4,510
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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