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VOL. 127 | NO. 99 | Monday, May 21, 2012

Commission Nears Budget Conclusion

Shelby County Commissioners could end their budget season Monday, May 21, with votes on two budget resolutions.

SPECIAL EMPHASIS: Financial Services 

Portable Banking

Mobile devices complement – and supplant – services for many area banks

First Tennessee Bank is spending tens of millions of dollars at the moment on upgrades of its technology infrastructure as well as new product development.

CRE Lending Sees Slight Improvement

The commercial lending landscape in the Memphis area continues to grind its way through an extended period of gradual improvement that began roughly two years ago after a dismal 2009.

Churchill Mortgage Growth Highlights Industry News

Here’s a roundup of what some of the city’s banks and bankers, investment professionals, accountants and other financial services shops have been up to in recent weeks.

Local Weather
Today
Memphis, TN
63°F
Partly Cloudy
Wind: 16 mph
Humidity: 78%

EVENTS

The Orphanos Foundation will hold its fifth annual golf fundraiser Monday, May 21, from 10 a.m. to 5 p.m. at Spring Creek Ranch, 149 Chinquapin Drive. Pilot Steve Scheibner will speak at the event. Cost is $350 per person. Email wayne@orphanos.org or call 458-9500 for details and to register.

more events »

Home Sales Fall in Fayette, Improve in Tipton

April home sales dipped in Fayette County but rose in Tipton County, and agents who specialize in each area say foreclosures are behind it all.

Montoya Speech Highlights Biotech Trade Opportunities

With an emerging economy and expanding middle class, the Philippines – the honored nation of this year’s Memphis in May International Festival – is experiencing a growing demand for biotechnology products. That demand is creating business opportunities for Mid-South life science companies seeking a market presence in the Southeast Asian country known as the “Pearl of the Orient.”

Planning Commission Still Working Out Details

The time is drawing near for the schools consolidation planning commission. “I’m not going to tell you what I compared this to,” commission chairwoman Barbara Prescott said last week. “But it’s been almost nine months.”

GOVERNMENT AGENDA

Shelby County Commission Agenda

The Shelby County Commission will meet Monday, May 21, at 1:30 p.m. in the Shelby County Administration Building, 160 N. Main St. Click on the meeting icon for an agenda.

SMALL BUSINESS SPOTLIGHT

Meeting Client Needs Top Priority for McManus Reilly

The laws surrounding estate planning and employee benefit and health care packages are complex and ever-changing.

LOCAL COLUMNISTS

One of The Oldest New Problems

One of the most significant problems I hear about in my consulting practice is: “I never have enough time to get everything done.”

Culture of Ownership Can Help Mitigate Fraud

We need to talk more about fraud. We spend time with statistics and case studies to help us understand occupational fraud in general, but we need to clearly articulate how fraud negatively affects us all, and why it’s important that we as a business community talk about it.

THE MEMPHIS NEWS

Strike up the Band

Memphis Symphony Orchestra shares city’s stories during 60th anniversary season

For anyone who finds themselves in conversation with Mei-Ann Chen about the Memphis Symphony Orchestra, its big plans for the year and major guest performers who’ve been lined up, be prepared to get an earful on a topic about which Chen will evangelize, her smile broad and voice brimming with cheer.

A Time to Celebrate MSO’s Joyful Noise

We are in the midst of a season of change in the sprawling musical landscape known as Memphis music.

MSO Brings Orff to Audience

The Memphis Symphony Orchestra will finish out this season’s First Tennessee Masterworks concert series with an ancient work which has woven itself into present day culture.

MEMPHIS AREA

IP to Close La. Plant, Eliminate 60 Jobs

MINDEN, La. (AP) – International Paper says it will permanently close its Minden Container Plant by July 17, resulting in the loss of approximately 60 jobs.

REGIONAL

Officials Announce Caterpillar Expansion

CORINTH, Miss. (AP) – Officials say a new facility for Caterpillar will house warehouse and logistics operations and create 35 jobs over the next three years.

NATIONAL BUSINESS

Facebook Stock Climbs in Public Debut

NEW YORK (AP) – Facebook updated its status to "public company" on Friday.

Expect Lower Gas Prices Heading Into Memorial Day

If you're lucky enough to live in some parts of the United States, you may see gas pump prices fall to around $3.25 a gallon or less in the next week or two. Even West Coast drivers should get some relief from prices that are still above $4 a gallon.

NATIONAL GOVERNMENT

FAA to Reopen Fatigue Rules for Cargo Pilots

WASHINGTON (AP) – The Federal Aviation Administration will revisit a decision to exempt cargo airlines from new rules to prevent pilot fatigue, saying it made "errors" in cost calculations used to justify the exemption.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 72 368 16,413
MORTGAGES 66 422 21,432
FORECLOSURE NOTICES 15 76 4,266
BUILDING PERMITS 176 877 39,378
BANKRUPTCIES 60 294 15,542
BUSINESS LICENSES 20 98 5,491
UTILITY CONNECTIONS 69 423 23,573
MARRIAGE LICENSES 17 95 5,035

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