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VOL. 127 | NO. 94 | Monday, May 14, 2012

‘New Enthusiasm’ Yields Permit Rise

While new-home sales remain low, average new-home sales prices are increasing, along with the number of permits and permit amounts.

Philippine Spotlight

Nation’s government, business leaders share story with Memphis

Tourism is big business, but there are concerns about infrastructure.

Bookend Disasters Plague Grizzlies in Playoffs

The pain flashed in the redness of Marc Gasol’s eyes. The hurt was evident in the pauses and head shaking of Zach Randolph.

Budget Talks Turn to MCS Funding Issue

If the city of Memphis has one more fiscal year of funding Memphis City Schools, it could be one-time-only funding instead of raising the city property tax rate.

Cortview Capital Expands Memphis Team

Brad Bodine, who heads the credit products group for Cortview Capital Securities LLC, says growth in Memphis “is an important strategy” for the firm, which has been on a hiring streak around the country lately.

Local Weather
Today
Memphis, TN
69°F
Cloudy
Wind: 0 mph
Humidity: 84%

EVENTS

The Greater Memphis Paralegal Alliance will hold a continuing legal education meeting Wednesday, May 16, from 11:30 a.m. to 1 p.m. at the University Club of Memphis, 1346 Central Ave. Shelby County District Attorney General Amy Weirich will present “Pursuing the Guilty and Protecting the Innocent.” Cost is $20 for members and $25 for nonmembers. R.S.V.P. to gmpa.reservations@gmail.com by Monday, May 14, at noon.

more events »

Acquisition Underscores RVC’s Long-Term Goals

Long before Andy Cates established RVC Outdoor Destinations in 2007, he solidified his commercial real estate background at Trammel Crow Co.

SMALL BUSINESS SPOTLIGHT

Diversification Keeps Barnett Group Thriving

Since its establishment 25 years ago, The Barnett Group has grown to provide benefits for more than 54,000 individuals and has affiliations with more than 50 insurance carriers and third-party administrators, enabling the company to offer clients a broad array of benefit plans.

LOCAL COLUMNISTS

Johnny Pawn’s Indecision

When Johnny Pawn (not his real name) was very little, his parents made decisions for him. Since Johnny was just a baby at the time, this was a good thing. They were good-hearted, caring people and only wanted the best for him.

‘OBM’ is Symptom Of Business Sickness

Is your business haunted by the blinding ghosts that worked in another era? The wealthiest man in Japan, Tadashi Yanai, has a business plan that looks 300 years into the future, but allows for annual updates as a matter of course. To date, he’s worth more than $6 billion.

THE MEMPHIS NEWS

Market Value

Real estate investors buying Memphis homes at rapid rate

Investor Warren Buffett admitted in his annual letter to shareholders recently that he was “dead wrong” in his early 2011 prediction that the housing market would have begun recovery by now.

‘Serious, Systemic Failures’ Mar Juvenile Court System

When U.S. Justice Department attorneys came to Memphis in 2010 and 2011 with a team of juvenile justice experts, they had good news and bad news for leaders of Memphis-Shelby County Juvenile Court.

Time for Court To Get it Right

You have probably heard the phrase “going forward” used a lot. And the temptation is great to use it again in the case of the recent report on Memphis-Shelby County Juvenile Court by the Civil Rights Division of the U.S. Justice Department.

Project: Motion ‘Blooms’ in Finale

Visual arts frequently recycle junk into amazing works, but these days even dance can go green.

NATIONAL BUSINESS

JPMorgan Loss Sets Off Call for Heavier Regulation

WASHINGTON (AP) – A surprise $2 billion trading loss by a division of JPMorgan Chase triggered calls Friday for tougher regulation of banks three years after their near-death experience in the financial crisis.

Express Scripts Stock Rises After Q1 Growth Report

Shares of Express Scripts are climbing after the pharmacy benefits manger reported prescription growth in its first quarter since splitting with drugstore chain Walgreen.

HEALTH CARE

FDA Reviews First Rapid, Take-Home Test for HIV

WASHINGTON (AP) – The Food and Drug Administration is considering approval of the first over-the-counter HIV test that would allow consumers to quickly test themselves for the virus at home, without medical supervision.

TECHNOLOGY

Facebook Updates Data Use Policy to Give More Info

NEW YORK (AP) – Facebook is updating its data use policy in an attempt to give users more clarity on how the information they share is used by the company. The move comes a week ahead of its expected initial public offering of stock.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 78 260 13,157
MORTGAGES 103 370 17,128
FORECLOSURE NOTICES 26 62 3,362
BUILDING PERMITS 0 366 30,930
BANKRUPTCIES 74 209 12,552
BUSINESS LICENSES 22 65 4,554
UTILITY CONNECTIONS 88 416 19,309
MARRIAGE LICENSES 27 94 4,003

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