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VOL. 127 | NO. 101 | Wednesday, May 23, 2012

AutoZone’s Q3 Earnings Grow 18 Pct.

Memphis-based AutoZone Inc., the nation’s leading auto parts retailer, opened 33 new U.S. stores during the company’s third quarter that ended earlier this month.

The Bell Lap

Wottle retiring from Rhodes as 40th anniversary of gold medal race nears

When he applied to work at Rhodes College in the early 1980s, Dave Wottle left something off his resume.

Medtronic Earnings Up But Spinal Biz Drops

Medtronic Inc. ended its 2012 fiscal year with a strong fourth quarter, driven by continued emerging market growth and strong U.S. sales of the company’s Resolute Integrity drug-eluting stent and RestoreSensor spinal cord stimulator.

Commission Approves $1.2 Billion Budget

The Shelby County Commission may not have the last word on a county government operating budget it added nearly $1 million to and for which it raided the county’s $90 million reserve fund to balance the budget.

Export Growth Earns Mallory ‘E’ Star Award

Mallory Alexander International Logistics has capped eight years of successive export growth with the President’s “E” Star award to go with the Presidential "E" award the company earned in 2006

Local Weather
Today
Memphis, TN
59°F
Fair
Wind: 5 mph
Humidity: 49%

EVENTS

The Downtown Memphis Commission design review board will hold a special-called public meeting Wednesday, May 23, from 9 a.m. to 11 a.m. in the DMC conference room, 114 N. Main St. DRB members and staff will discuss current drafts of the Downtown Memphis design guidelines and sign code.

more events »

Calif. Firm Finds Niche With ‘Premium Properties’

Investment firms nationwide are snatching up single-family real estate-owned (REO) properties, renovating and renting them, and then selling them to other investors.

Memphis-Based MRI Interventions Goes Public

This week marks a milestone for Memphis-based MRI Interventions Inc., which began trading as a public company Monday, May 21.

MEMPHIS NEWSMAKERS

McFarland Named VP At Visible Music College

Christy McFarland has been named the vice president of business at Visible Music College. Previously the director of marketing, McFarland will now oversee VMC’s marketing/public relations, business and operational functions.

LOCAL COLUMNISTS

Jury’s Out On Facebook Advertising

Business owners and marketers around the globe are clamoring to assess the viability of Facebook advertising. After all, Facebook has amassed over 900 million active users in eight short years, making it easy to see what all of the fuss is about.

Greek Drama Playing Out on World’s Stage

Flashback-ish Welcome back to 2011. Global growth jitters have returned, the U.S. has re-engaged in fiscal brinkmanship and the fate of the euro is back in question. Will 2012 be any different than 2011? Perhaps. This time Greece is not fighting to remain in the euro, it’s fighting to withdraw.

STATEWIDE

Layoffs Coming as Dillard's Moves Fulfillment Work

NASHVILLE (AP) – Department store owner Dillard's is laying off 125 workers in Nashville as it moves online fulfillment to a central Arkansas center.

Grading of Union City Section of I-69 Nearly Done

UNION CITY, Tenn. (AP) – The first construction phase of a section of Interstate 69 in northwest Tennessee is ahead of schedule, but funds for the second phase are being held up.

REGIONAL

USDA to Spend $32 Million on Wetland Restoration

LITTLE ROCK, Ark. (AP) – A $32 million set of projects across seven states in the Mississippi River Basin will restore a variety of wetland types, from Iowa to Louisiana.

NATIONAL BUSINESS

Motel 6 Being Sold to Private Group for $1.9B

NEW YORK (AP) – French hotel company Accor SA is checking out of Motel 6 and a prominent U.S. investment firm is moving in.

REAL ESTATE

Previously Owned Home Sales Up

WASHINGTON (AP) – Americans bought more previously owned homes in April, a hopeful sign that the weak housing market is gradually improving.

TECHNOLOGY

Google Completes Motorola Deal, Heralding New Era

SAN FRANCISCO (AP) – Google has completed its $12.5 billion purchase of device maker Motorola Mobility in a deal that poses new challenges for the Internet's most powerful company as it tries to shape the future of mobile computing.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 52 136 5,209
MORTGAGES 79 182 6,891
FORECLOSURE NOTICES 13 50 1,606
BUILDING PERMITS 328 328 12,307
BANKRUPTCIES 70 175 5,475
BUSINESS LICENSES 30 58 2,119
UTILITY CONNECTIONS 85 182 7,240
MARRIAGE LICENSES 19 43 1,501

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