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VOL. 127 | NO. 87 | Thursday, May 3, 2012

Wright Q1 Sales, Earnings Decline

Wright Medical Group Inc. Tuesday, May 1, reported its adjusted net income declined 9 percent to $8.6 million for the first quarter of 2012 from $9.4 million in Q1 2011, while diluted earnings per share, as adjusted, decreased 8 percent to $0.22 in Q1 from $0.24 in Q1 2011.

Office Opportunities

Positive change occurring in local landscape

Memphis’ office real estate landscape is changing, and for three firms, those changes are creating opportunities.

Smith & Nephew Reports Q1 Net Profit

Smith & Nephew Thursday reported its net profit grew 3 percent in the first quarter, helped by an increase in revenue, profit and trading margins in the company’s Advanced Surgical Devices and Advanced Wound Management divisions.

McDonald Leaving As Catholic Schools Superintendent

Dr. Mary McDonald is leaving as superintendent of the Memphis Catholic Schools system effective June 30.

Council Pursues Alternatives To Tax Hike

City Council member Ed Ford Jr.’s students finished their algebra tests this week and he took them to Chik-fil-A as a reward.

Local Weather
Today
Memphis, TN
73°F
Mostly Cloudy
Wind: 0 mph
Humidity: 71%

EVENTS

The Mid-South Area Business Travel Association will host a behind-the-scenes tour of Memphis International Airport Thursday, May 3, from 11:30 a.m. to 1:15 p.m. at the airport project center, 4225 Airways Blvd. Cost is $25 for MSABTA members and $40 for nonmembers. Register at msabta.org.

more events »

Cobblestone Plan Gets DMC Design Board Approval

The Design Review Board of the Downtown Memphis Commission has approved the cobblestone river landing project tentatively set to start work sometime this fall.

Jackson Lewis Adds Attorneys, Plans More

The Memphis office of workplace law firm Jackson Lewis LLP is on a tear. The firm has brought four new attorneys, for example, on board since December. That brings the current total to nine – up from three when the firm opened its doors here in 2008.

Highwoods Properties' Q1 Net Income Rises

Highwoods Properties Inc.’s first-quarter net income was $16.7 million – up from $10.1 million during the same period last year – the Raleigh, N.C.-based real estate investment trust announced Wednesday, May 2, in its Q1 earnings conference call.

MEMPHIS LAW TALK

Grisham Joins Growing Jackson Lewis Office

When Greg Grisham joined the Memphis office of workplace law firm Jackson Lewis LLP as a partner a few weeks ago, it marked the fourth new attorney arrival in the firm’s Memphis office since December.

LOCAL COLUMNISTS

Eat Local For Health, Economy

Ray’s Take It’s the time of year when local farmers’ markets start to crop up. Patronizing these markets – along with other sources for locally grown food – can be beneficial to your health and taste buds, your family culture, and even have a positive impact on our local economy.

Examining the Origins of Bill, Check

“Bill!” Have you ever noticed that in comic strips the punch line is often “Check please!”? Someone is at a restaurant, hoping to maintain control over a situation. It spins out of control … “Check please!”

Harnessing Strategic Business Growth

If you’re not growing, you’re dying anonymous. Growth: That Crazy Talk. Call it the entrepreneurial instinct, innovation, business savvy, whatever you want: strategic growth is how business prospers.

STATE GOVERNMENT

Lawmakers Adjourn Session Without Gun Showdown

NASHVILLE (AP) – The 107th Tennessee General Assembly adjourned Tuesday without a final showdown over a contentious gun issue and the governor said he will decide in the next couple of days whether to veto a bill targeting Vanderbilt University's policies on religious student groups.

Health Care Compact Falls Short in Tenn. House

NASHVILLE (AP) – A proposal that would allow Tennessee to join an interstate compact challenging the federal health care law failed in the House on Tuesday after about 28 members were either absent or abstained on the vote.

Roll-Your-Own Cigarette Bill Headed to Governor

NASHVILLE (AP) – A proposal that would require roll-your-own cigarette retailers to pay a licensing fee and tax and adhere to certain restrictions is headed to the governor for his consideration.

Bill to OK Legality for Benefits Goes to Governor

NASHVILLE (AP) – A proposal that would require agencies to verify that applicants for public benefits are legal residents is headed to the governor for his consideration.

REGIONAL

Mississippi Senate Adopts Its Redistricting Plan

JACKSON, Miss. (AP) – A majority of Mississippi senators voted Wednesday to approve the chamber's redistricting plan, despite complaints from a few colleagues who think they're treated unfairly because their districts are dramatically changed.

Arkansas Revenues $93M Ahead of Forecast for Year

LITTLE ROCK, Ark. (AP) – Arkansas has collected $93.6 million more in revenue than expected for the year so far after enjoying a boost in sales and individual income tax collections last month, the state Department of Finance and Administration said Wednesday.

NATIONAL BUSINESS

Sears Execs Say Retailer Financially Strong

HOFFMAN ESTATES, Ill. (AP) – Sears executives tried Wednesday to ease concerns about the troubled retailer's long-term outlook amid ever-sinking sales, emphasizing the company's financial strength, increased liquidity and prospects to boost operational results.

US Hiring Slowed Last Month

WASHINGTON (AP) — A private survey shows U.S. businesses sharply reduced hiring in April, a cautionary sign two days before the government reports on monthly job growth.

US Factory Orders Fell in March by Most in 3 Years

WASHINGTON (AP) – Demand for U.S. factory goods dropped in March by the most in three years, driven lower by a sharp fall in volatile orders for commercial aircraft. Still, more recent data suggest the decline may be temporary.

Ascena Retail Buying Charming Shoppes for $890M

SUFFERN, N.Y. (AP) – The Ascena Retail Group is buying Charming Shoppes Inc., owner of Lane Bryant, for about $890 million, giving it access to the large-size women's clothing market.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 110 154 13,810
MORTGAGES 135 193 18,019
FORECLOSURE NOTICES 15 39 3,544
BUILDING PERMITS 430 430 32,733
BANKRUPTCIES 52 130 13,133
BUSINESS LICENSES 20 45 4,750
UTILITY CONNECTIONS 83 204 20,104
MARRIAGE LICENSES 0 33 4,230

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