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VOL. 127 | NO. 212 | Tuesday, October 30, 2012

Hotel Chisca Gets New Owners, Art Facelift

The chain-link fence surrounding the dilapidated Hotel Chisca in Downtown Memphis is a little bit easier on the eyes as of Saturday, Oct. 27.

Bulls-Eye

Clay target shooting program takes off at Manassas High

It seemed an unlikely place to form a clay target shooting team.

Wall Street Still Dark, Exchanges Test Systems

NEW YORK (AP) — With large portions of lower Manhattan still dark early Tuesday, U.S. stock exchanges said they were testing contingency plans to ensure trading resumes as soon as possible this week after Hurricane Sandy smashed into the East Coast.

City Sends State "Cease & Desist" Letter

The city of Memphis has sent a “cease and desist” letter to Tennessee Attorney General Robert Cooper demanding that his office instruct state election officials to tell local election commissioners they must accept photo library cards as valid identification to vote early.

School Board to Vote on Supporting Tax Hike

The chairman of the Shelby County Commission and the newest county commissioner have different thoughts on the countywide tax hike on the Nov. 6 ballot.

Pera’s Ubiquiti Reports Earnings Next Week

The last time his company held its quarterly earnings conference call for analysts, Robert Pera was asked rather pointedly by one analyst whether he was still going to pull the trigger on his purchase of the Memphis Grizzlies.

Realty Firm Gives Back Through Farm-to-Fork Fellowship

Commercial real estate deals were put on hold Friday, Oct. 26, for Cushman & Wakefield/Commercial Advisors LLC.

Petties Drug Runner Draws Eight-Year Sentence

A professional drag racer and mechanic who used his racing trailers to run money and cocaine for the Craig Petties drug organization was sentenced Monday, Oct. 29, to eight years and one month in prison.

REAL ESTATE RECAP

I-Bank Tower on Poplar Sells for $14.4 Million

5050 Poplar AveMemphis, TN 38117

LOCAL COLUMNISTS

Memphis Rocks in Film Festival

Last week we discussed Crosstown Arts, which is a local nonprofit working to cultivate the arts and revitalize the Sears Crosstown Building. This week let us refocus on “Memphis Rocks,” which recently was the subject of a reader-response series featuring your perspectives on what makes Memphis so unique and special. As a quick refresher, “Memphis Rocks” is a civic pride campaign that promotes our city and is designed as a give back, supporting the Memphis Police Department Fallen Officer Memorial. Now for the exciting news: Memphis Rocks will be a category at the 14th Annual Memphis International Film & Music Festival.

STATEWIDE

Green Plains Selling Tennessee, Iowa Grain Elevators

OMAHA, Neb. (AP)Green Plains Renewable Energy Inc. says it's selling 12 grain elevators in northwestern Iowa and western Tennessee to The Andersons Inc.

REGIONAL

No Damage Reported in Arkansas Earthquake

PARKIN, Ark. (AP) – No damage or injuries have been reported after a 3.9-magnitude earthquake struck Monday morning in eastern Arkansas.

NATIONAL BUSINESS

Sandy Unlikely to Damage US Economy, Analysts Say

WASHINGTON (AP) – Airlines canceled thousands of flights and stranded travelers. Insurers braced for damages of up to $5 billion. Retailers expected shrunken sales.

Storm Leads Companies to Postpone Earnings Reports

NEW YORK (AP) – A number of major U.S. companies postponed quarterly earnings reports scheduled for Monday and Tuesday, as Hurricane Sandy barreled into the East Coast and caused the first unplanned shutdown of financial markets since 2001.

Consumer Spending Rose 0.8 Percent in September

WASHINGTON (AP) – Americans increased their spending in September at twice the rate that their income grew, a sign of confidence in the economy. Still, consumers made up the difference by saving less for a third straight month, a troubling trend.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 66 180 11,618
MORTGAGES 81 223 15,202
FORECLOSURE NOTICES 21 68 2,979
BUILDING PERMITS 0 392 27,646
BANKRUPTCIES 90 218 11,180
BUSINESS LICENSES 26 63 4,101
UTILITY CONNECTIONS 99 422 16,906
MARRIAGE LICENSES 19 62 3,526

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