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VOL. 127 | NO. 186 | Monday, September 24, 2012
SPECIAL EMPHASIS: Financial Services

Return on Investment

Banks, financial institutions find value in giving back to community

Most people already know some of the basic elements of the banking business. From the large national lenders with a Memphis presence to the community banks in the suburbs, one common element is they make money by charging borrowers more than the bank pays in interest to depositors.

Financial Industry Continues to Evolve

Here’s a roundup of what some of the city’s banks and bankers, investment professionals, and other financial services shops have been up to in recent weeks.

Mueller Industries to Repurchase Stock for $427.3 Million

NEW YORK (AP) – Mueller Industries is buying back approximately 10.4 million of its shares owned by Leucadia National Corp. for about $427.3 million.

Commission To Put Pera On FedExForum Lease, Appoint Election Reform Panel

Shelby County Commissioners take up a new name on the lease for FedExForum at their Monday, Sept. 24, meeting.

Local Weather
Today
Memphis, TN
76°F
Fair
Wind: 7 mph
Humidity: 36%

EVENTS

Leadership Memphis is accepting applications for its 2013 Grassroots Leadership Program through Saturday, Sept. 29. The program, which teaches leadership skills and techniques to implement community change, includes 11 sessions between October and March. Visit leadershipmemphis.org.

more events »

Marks Thrives on Challenge of Promoting Services

Dan Marks isn’t an information technology manager or a management information systems analyst, but these days anyone promoting a bank is automatically invested in digital technology.

Hospitals Must Prepare for Shifting Model

A new model for health care in America is rapidly on its way, according to the chief medical officer of Saint Francis Healthcare. And many physicians are oblivious to it or in denial.

Airport to Get $31.8 Million in Federal Grants

U.S. Rep. Steve Cohen and Memphis International Airport officials will announce Monday, Sept. 24, that the airport is getting $31.8 million in infrastructure grants from the Federal Aviation Administration.

Impact of Election Woes May Linger

The confirmation last week of the suspension and probationary period for Shelby County Elections Administrator Richard Holden may not be the end of his difficulties.

Construction Honors Industry’s Best

Among the holding pattern of construction nationwide, local contractors appear to be holding their own.

Luttrell Dumps Garbage Collection Proposal

A proposal by the county administration to start a single system of garbage collection for all of unincorporated Shelby County for a $25 monthly fee is off the table, Shelby County Mayor Mark Luttrell told a town hall meeting Thursday, Sept. 20, at Bolton High School.

Author, Veteran Preaches Mentorship Message

Waiting in Studio A of the Stax Museum of American Soul Music, where the ghosts of soul icons swirled around students who sang in loud clear voices, U.S. Army veteran, author and businessman Wes Moore knew what he was looking at.

SMALL BUSINESS SPOTLIGHT

Slow, Steady Growth Suits Summit Asset Management

For Summit Asset Management LLC, steady organic growth over the past 20 years has been spurred by building strong local relationships.

LOCAL COLUMNISTS

Three Elements of Planning

Gen. Dwight D. Eisenhower, Supreme Commander of the Allied Forces in Europe during World War II supposedly said, “In preparing for battle I have always found that plans are useless, but planning is indispensable.” This sounds like a very practical approach to planning to me and I like Ike’s thinking on this issue.

A Century of Service

Talking about the Better Business Bureau, the president said, “Your bureaus have not relied on propaganda extolling the virtues of business. They have gone to work to clean out the shady areas in the commercial world.”

THE MEMPHIS NEWS

Midtown Utopia

Cooper-Young neighborhood celebrates more than a century of revitalization

Of Memphis’ tales of humble beginnings, of which there are many, the fluctuating renaissance of the Cooper-Young neighborhood is certainly compelling throughout.

Neighborhoods, Festivals Form Fabric of the City

When something good develops organically in Memphis, there is a great tendency to believe that if there are attempts to organize it too much or try to “improve” it, something essential will be lost.

REGIONAL

Arkansas Unemployment Holds at 7.3 Percent

LITTLE ROCK, Ark. (AP) – The Arkansas unemployment rate for August was 7.3 percent, the same as the month before.

Mississippi Payrolls Fall, Signaling Shrinking Economy

JACKSON, Miss. (AP) – Payrolls fell in Mississippi for the fourth straight month in August, reinforcing economists' judgment that the state is back in recession.

NATIONAL BUSINESS

American Airlines Apologizes to Passengers for Flight Problems

DALLAS (AP) – American Airlines is apologizing to its best customers for the recent increase in delayed and canceled flights.

Wal-Mart's Holiday Hiring to be Up Slightly

NEW YORK (AP) Wal-Mart Stores Inc. said Friday it expects to hire more than 50,000 people this holiday season and will be offering more hours to its existing employees.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 66 153 14,870
MORTGAGES 64 144 19,474
FORECLOSURE NOTICES 0 22 3,817
BUILDING PERMITS 217 359 35,689
BANKRUPTCIES 59 121 14,155
BUSINESS LICENSES 24 86 5,077
UTILITY CONNECTIONS 71 170 21,603
MARRIAGE LICENSES 22 59 4,616

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