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VOL. 127 | NO. 208 | Wednesday, October 24, 2012

Delta Third-Quarter Profit Surges on Fuel Contract Gains

NEW YORK (AP) — Delta Air Lines said Wednesday that its third-quarter profit nearly doubled mostly due to the increasing value of its fuel contracts.

Expanding Legacy

Renovations set to begin at National Civil Rights Museum

Their annual Freedom Awards and public forum now complete for another year, leaders of the National Civil Rights Museum prepare next month for construction on the 21-year-old museum that chronicles the civil rights movement.

Jobs Push Made for State’s Veterans

Hundreds of thousands of veterans will be coming home in the near future, as the U.S. downsizes its presence in the Middle East.

School Board Debates Sales Tax Support

Countywide school board members debated Tuesday, Oct. 23, the idea of backing a half cent countywide sales tax hike.

First Of Many Funding Requests Approved For Merged System

The first Shelby County government financing of the soon to be merged public school system approved Monday, Oct. 22, was about $1 million less than expected. And it drew the support of Shelby County Commissioners opposed to the consolidation of Shelby County’s two public school systems.

Local Weather
Today
Memphis, TN
81°F
Partly Cloudy
Wind: 6 mph
Humidity: 56%

EVENTS

The Healthy Memphis Common Table and the Shelby County Health Department will host the Let’s CHANGE Summit Wednesday, Oct. 24, from 8 a.m. to 11:30 a.m. at Saint Francis Hospital-Memphis, 5959 Park Ave. Let’s CHANGE is a partnership of nearly 40 businesses, government and community organizations dedicated to fighting childhood and family obesity.

more events »

Race for the Cure Marks 20th Local Event

Pink is prevalent during the month of October, but don’t let its playful, flirtatious demeanor mislead you. The thousands of Mid-Southerners who will be wearing it this weekend are strong, resilient and determined. And they are waging a fierce battle against breast cancer.

Sullivan Branding Celebrates Year of Integration

In Sullivan Branding’s new digs in the Toyota Center, matted images depicting what inspires each employee adorn the walls.

Porter Launches Music Mentorship Program

Songwriter, producer, hit-making machine and Memphis native David Porter is moving into the Falls Building Downtown in a few weeks to launch a national music mentorship venture.

MEMPHIS NEWSMAKERS

Palmer Joins Cannon Wright Blount As Director of Assurance

David Palmer has joined Cannon Wright Blount certified public accounting firm as director of assurance and accounting services. Palmer’s specialties include audit and profit-sharing plans in the nonprofit, health care, government and construction industries.

LOCAL COLUMNISTS

Leveraging Pinterest For Holiday Sales

Virtual scrapbooking site Pinterest is a force to be reckoned with. That’s why brands nationwide will integrate Pinterest campaigns into their promotional strategies this holiday season. This 2-year-old social media phenom has already attracted roughly 20 million users, making it the third-most popular social network in the U.S.

Proposals: Make Them Sing

Congratulations on getting to the proposal stage. You’ll have good odds now. As a general proposal outline, try the following:

Desperately Seeking Dividends

The 10-year Treasury bond, which historically yields 5 percent, yields 1.75 percent today. At these levels, the risk/reward features of low yielding bonds and higher yielding stocks favors stock dividends over bond interest payments. However, with dividend yields in hot pursuit, investors have driven valuations higher for U.S. dividend payers. In fact, high yielding U.S. stocks now carry higher valuations than the market on average, far above their normal 20 percent discount. This is the highest valuation premium they have commanded since the 1950s. This does not foretell an immediate valuation collapse, but it does beg the question, are there better alternatives?

STATEWIDE

Some Church Child-Care Programs Must Get Licenses

NASHVILLE, Tenn. (AP) — State officials say church-sponsored child-care programs such as parents' day out, must either obtain licenses or limit their programs to no more than two days a week.

Haslam Optimistic About State's Credit Rating

NASHVILLE, Tenn. (AP) — Gov. Bill Haslam said meetings with three credit agencies this week went well and he is optimistic about the outcomes.

NATIONAL BUSINESS

Weak Earnings Reports Pummel Stocks

NEW YORK (AP) — Nobody was expecting this round of corporate earnings reports to be great. But companies' underwhelming results are still rattling investors.

UPS Says Consumers Driving Shipping Growth

NEW YORK (AP) — UPS says online shoppers are propping up its business in a tough global economy.

US may Soon Become World's Top Oil Producer

NEW YORK (AP) — U.S. oil output is surging so fast that the United States could soon overtake Saudi Arabia as the world's biggest producer.

Regions Financial Shares Drop as Yields Shrink

BIRMINGHAM, Ala. (AP) — Regions Financial Corp. on Tuesday posted sharply higher third-quarter earnings, as the regional bank set aside less cash to cover loan losses. But its shares fell sharply in morning trading after the results showed record-low interest rates cut into interest income from loan and deposits.

Fed Likely to Send Wait-and-See Signal at Meeting

WASHINGTON (AP) — Six weeks ago, the Federal Reserve unveiled its latest plan to invigorate the U.S. economy. This week, the Fed will likely send a simple message:

SunTrust Banks Falls as Third Quarter Expenses Climb

NEW YORK (AP) — Shares of SunTrust Banks continued to fall on Tuesday, after the regional bank posted higher third-quarter expenses amid low interest rates.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 83 415 10,637
MORTGAGES 87 499 13,826
FORECLOSURE NOTICES 0 80 2,724
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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