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VOL. 128 | NO. 39 | Tuesday, February 26, 2013

ServiceMaster Posts Operating Loss in 2012

The ServiceMaster Co. reported an unaudited operating loss of $532.8 million in 2012 on operating revenue of $3.1 billion.

Leading the March

Petrina’s passion for The Peabody shows in duckmaster role

Two times a day, every day, The Peabody hotel guests that Anthony Petrina is responsible for perform their time-honored routine, eliciting camera flashes and adoration from tourists while helping preserve the continuity of a popular tradition at the hotel.

AutoZone Blames Slower Sales on Tax Refund Delay, Winter Weather

No company is completely immune to the effects of political squabbling in Washington, the stakes of which have intensified lately for the average taxpayer.

Supermarket Wine Bill Advances by 1 Vote in Senate

NASHVILLE (AP) – A proposal to allow wine to be sold in Tennessee supermarkets and convenience stores scored its first legislative victory on Tuesday after years of frustration.

Mays Plans to Appoint Special Master

U.S. District Court for the Western District of Tennessee Judge Samuel “Hardy” Mays plans to move ahead with appointing a special master to oversee the merger of Shelby County’s two public school systems.

Schools Questions Dominate County Commission Agenda

Shelby County Commissioners approved on the second of three readings Monday, Feb. 25, an ordinance that gives Memphis City Schools teachers living outside Shelby County five years to move within Shelby County.

ADDYs Boast Creative Industry’s Finest

The tall ceilings and 100-year-old wood flooring of the historic 409 S. Main St. building were right in line with the American Advertising Federation Memphis’ 2013 ADDY Awards ceremony, themed beware of “The Creeping Boredom.”

Barbic Says Coexistence at Humes Possible

The superintendent of the state-run Achievement School District believes there is room at Humes Middle School for an optional school and the ASD charter school now at Gordon Elementary School.

Several Paths for School Funding Possible

The most important number at a weekend Shelby County Commission budget retreat was not the $145 million in new funding the countywide school board has asked for.

Dunavant Grows Logistics, Transportation Divisions

Dunavant Enterprises Inc. continues its transformation into a purely third-party logistics and asset-based transportation firm.

REAL ESTATE RECAP

U of M Files Permit for New Residence

3615 Central Ave. Memphis, TN 38111

LOCAL COLUMNISTS

BRIDGES to Oz

Last week we focused on a new form of mentorship, aimed at talent development and retention, with the University of Memphis and their LEAD program’s Professional Connection Lunches. This week let us discuss an organization that is uniting and inspiring diverse young people to become confident and courageous leaders committed to community transformation: BRIDGES.

Opposing Forces Cause Swirling Economy

Remember Relative Value One by-product of the Federal Reserve’s loose monetary policy is the widespread positive returns that numerous asset classes have been able to experience. For instance, from March 9, 2009 (the closing low on the S&P 500), thru Dec. 31, 2012, the cumulative returns of the SPDR Barclays High Yield Bond ETF (JNK) and the SPDR S&P 500 ETF (SPY) have been 128 percent and 127 percent, respectively. Whether your chosen investment was high-yield bonds or the 500 stocks in the S&P 500, returns have been identical since the bottom.

NATIONAL BUSINESS

Barnes & Noble Chair Wants to Buy Retail Business

NEW YORK (AP) – The last remaining national bookstore chain is being taken off the shelf and dusted off for sale.

Macy's CEO Testifies in Fight Over Martha Stewart

NEW YORK (AP) – Macy's CEO Terry Lundgren testified on Monday that he hung up on home diva Martha Stewart after she called to inform him on Dec. 6, 2011 that the company that bears her name had inked a deal with J.C. Penney to open shops within most of the chain's stores.

NATIONAL GOVERNMENT

Obama Urges Congress to Compromise on Cuts

WASHINGTON (AP) – Facing an end of the week deadline, President Barack Obama said Monday that Congress can avert sweeping across-the-board cuts with "just a little bit of compromise," as he sought to stick lawmakers with the blame if the budget ax falls.

US Stopping Use of Term 'Negro' for Census Surveys

WASHINGTON (AP) – After more than a century, the Census Bureau is dropping its use of the word "Negro" to describe black Americans in surveys.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 87 87 14,804
MORTGAGES 80 80 19,410
FORECLOSURE NOTICES 22 22 3,817
BUILDING PERMITS 142 142 35,472
BANKRUPTCIES 62 62 14,096
BUSINESS LICENSES 62 62 5,053
UTILITY CONNECTIONS 99 99 21,532
MARRIAGE LICENSES 37 37 4,594

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