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VOL. 127 | NO. 104 | Monday, May 28, 2012

New School System Faces $89M Shortfall

The gap between expenses and revenues for a countywide school system that debuts in August 2013 is estimated at $89 million by the group that is planning what the school system will look like and how it will operate.

Granting Wishes

MAAR Commercial Council raises money for Make-A-Wish Foundation

Make-A-Wish Foundation of the Mid-South plans to grant 220 wishes to children with life-threatening medical conditions this year.

Downtown Commission Reviews South Main Branding, Chisca

The Downtown Memphis Commission unanimously approved to hire Nashville-based North Star Destination Strategies to help in the organization’s South Main branding campaign at its monthly board meeting Friday, May 25.

FedEx to Buy Brazilian Shipper

Memphis-based FedEx Corp. is buying its authorized FedEx representative in Brazil to become part of FedEx Express.

TDN Seminar to Address Range of Economic Topics

In Shelby County Trustee David Lenoir’s opinion, too many people have been “ingrained” with the notion that government is always the solution to community problems.

Local Weather
Today
Memphis, TN
77°F
Partly Cloudy
Wind: 6 mph
Humidity: 64%

EVENTS

The Daily News’ offices will be closed Monday, May 28, in observance of Memorial Day. Offices reopen at 8:30 a.m. Tuesday, May 29, and will remain open during normal business hours.

more events »

Council Looks at Four Budget Proposals

The Memphis City Council begins talking seriously Tuesday, May 29, about at least four budget proposals already forwarded by individual council members and possibly more to be unveiled at a council budget committee session.

School Board To Review Cash Contract

The countywide school board is about to get started on the question of who will be the superintendent of the consolidated school system to come in August 2013.

Delta Airfare Arguments Take to Social Media

If Facebook groups are any indication, the discussion about high airfares at Memphis International Airport is intensifying.

SMALL BUSINESS SPOTLIGHT

Mahaffey Tent has Local Events, Businesses Covered

Mahaffey Tent & Party Rentals is one of only two Memphis companies recently named to the 2012 Inner City 100, a list of the fastest-growing inner city companies in the United States.

REAL ESTATE RECAP

Cordova’s Appling Lakes Sells for $26 Million

1385 Appling Road, Cordova, TN 38016, Sale Total: $26.4 million (27 TIC sellers) -
The 312-unit Appling Lakes at Cordova Club apartment complex has been sold for $26.4 million by tenants-in-common investors who bought it in 2005 for $26.9 million.

LOCAL COLUMNISTS

Ask Yourself What Would Goethe Do?

If you take the time to read about the German writer, artist, biologist, physicist, and all-around highly productive guy Johann Wolfgang von Goethe, you will find that he accomplished quite a bit during his 80-plus years on the planet Earth. And since he lived in the late 1700s and early 1800s, he did it all without a cell phone, iPad, Bluetooth, spell check or any of our modern technological conveniences and so-called necessities.

Lessons From FUBU Founder

Last week we spotlighted the upcoming public celebration, National Cancer Survivors Day, along with the Ovarian Cancer Awareness Foundation, which is working to encourage national awareness about ovarian cancer and to promote education about the disease. Inspired by a recent visit from Daymond John, this week let us discuss a few topics from his presentation that we can carry forward for our city.

THE MEMPHIS NEWS

Fueling Up

The economics of gas prices extend far past the pump

If the political ads along these lines haven’t already started by the time this story is printed, don’t worry. They’ll arrive soon enough.

Numerous Factors Affecting Gas Prices

When it comes to the price of gas, one thing seems clear: high gas prices are here to stay in the long run.

Brooks Taps into City’s ‘Soul’

The Memphis Brooks Museum of Art spent last summer taking an extensive look at French Impressionism, but this year it looks closer to home.

REGIONAL

Miss. High Court Rules Legal Fees are Public Funds

JACKSON, Miss. (AP) – The Mississippi Supreme Court ruled Thursday in two cases that legal fees paid to private lawyers to represent the state are public funds.

Lawyers Want Judge to Recuse in Ark. Lotto Dispute

LITTLE ROCK, Ark. (AP) – Hours after a judge ordered a new trial in a dispute about a $1 million lottery ticket, lawyers for the Arkansas woman who plucked the ticket from the trash said they want the judge to take himself off the case.

NATIONAL BUSINESS

Sugar Fight Takes Another Bitter Turn

NEW YORK (AP) – What defines sugar? It's getting to be a stickier question.

Bank of America, Barclays Sell Archstone Stake

NEW YORK (AP) – Bank of America Corp. and Barclays Bank PLC are selling their stake in the apartment building owner Archstone to Lehman Brothers Holdings Inc.'s bankruptcy estate for $1.58 billion.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 83 415 10,637
MORTGAGES 87 499 13,826
FORECLOSURE NOTICES 19 99 2,743
BUILDING PERMITS 0 915 25,222
BANKRUPTCIES 79 343 10,235
BUSINESS LICENSES 19 97 3,833
UTILITY CONNECTIONS 143 573 15,130
MARRIAGE LICENSES 23 106 3,273

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