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VOL. 128 | NO. 10 | Tuesday, January 15, 2013

Mortgage Gains Point to Solid 2013

Shelby County’s mortgage market made decent strides during the past 12 months, posting gains over 2011 and foreshadowing a healthy 2013.

Debt Drama

Memphis financial veterans sound off on debt ceiling

One of the common refrains among money managers and economists in Memphis is that the nation’s political leaders spend too much time wrestling with crises and not enough actually solving problems.

FedEx Ground Names Maier New CEO

MEMPHIS (AP) - FedEx Corp. has named Henry J. Maier to run its FedEx Ground unit, succeeding David F. Rebholz, who is retiring in May.

County Wage Theft Ordinance Defeated

Shelby County Commissioners voted down a “wage theft” ordinance Monday, Jan. 14, on third and final reading.

Fourth-Quarter Mortgages Rise 21 Percent

The fourth quarter of 2012 in Shelby County essentially followed the same upward swing in mortgage activity as was seen throughout the year as a whole.

Local Weather
Today
Memphis, TN
56°F
Fair
Wind: 0 mph
Humidity: 87%

EVENTS

The University of Memphis School of Public Health will host Dr. John Dreyzehner, Tennessee Commissioner of Health, for “Public Health is Everybody’s Business” Tuesday, Jan. 15, from 11 a.m. to 1:30 p.m. in the FedEx Institute of Technology fishbowl room 203, 365 Innovation Drive. Visit memphis.edu/sph for details.

more events »

December Mortgages Up 34 Percent

Much like the fourth quarter, December was also an especially strong period for local mortgage activity.

Deadline Fast Approaching for Pinnacle Awards

The Memphis Area Association of Realtors Commercial Council is well under way in planning the 12th annual Pinnacle Awards ceremony, a night dedicated to showcasing commercial real estate industry professionals in the area.

Conrad, Flinn Pitch Cost-Saving Measures for City

Memphis City Council member Kemp Conrad wants to explore selling city assets, including Memphis Light, Gas and Water Division, and using the proceeds to establish a trust fund for early childhood education and other “wrap around” social services.

Piano’s Flowers Buys Shackelford’s

Shackelford’s Florist has ended a months-long search for a new owner by agreeing to be acquired by Piano’s Flowers & Gifts Inc., a local florist with decades of experience in the local market.

REAL ESTATE RECAP

Realty Income Corp. Buys Herbalife Facility

5025 Crumpler Road Memphis, TN 38141

LOCAL COLUMNISTS

Sharing a Student’s Success

Last week we highlighted our Samaritans Feet Shoe Distribution, providing more than 300 youth with new socks, shoes and unconditional compassion. This week, extending our “youthful” theme, let us turn the spotlight on a high school student who has overcome tremendous adversity to become a local success story.

Follow These Steps for Viral Video Success

My sister lives in South Korea. She doesn’t get to come home often, but what she discovered on a visit a few months ago baffled her. Gangnam Style was sweeping the U.S. At first, she was confused. She said it was a popular dance in South Korean clubs, and she’d heard it on Korean radio. But that did not explain why I was asking her to teach me the dance during a TV timeout at a football game at LSU last fall.

STATE GOVERNMENT

Citizens Panel: Children's Services Failed Timely Response

NASHVILLE (AP) – A citizens group that makes recommendations to Tennessee Department of Children's Services says the state office did not respond for more than a year to some it its suggestions.

REGIONAL

Dippin' Dots Bankruptcy Case at End

PADUCAH, Ky. (AP) – A remaining piece in the bankruptcy case of novelty ice cream maker Dippin' Dots has been resolved.

NATIONAL BUSINESS

UPS Scraps $6.9 Billion TNT Buyout

United Parcel Service Inc. has scrapped plans to grow in Europe through the acquisition of Dutch delivery company TNT Express because European regulators were getting ready to reject the $6.9 billion deal.

Coca-Cola to Address Obesity for First Time in Ads

NEW YORK (AP) – Coca-Cola became one of the world's most powerful brands by equating its soft drinks with happiness. Now it's taking to the airwaves for the first time to address a growing cloud over the industry: obesity.

Toyota Retakes Global Auto Sales Crown From GM

DETROIT (AP) – Toyota has once again dethroned General Motors as the world's top-selling automaker.

Coca-Cola to Address Obesity for First Time in Ads

NEW YORK (AP) – Coca-Cola became one of the world's most powerful brands by equating its soft drinks with happiness. Now it's taking to the airwaves for the first time to address a growing cloud over the industry: obesity.

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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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