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VOL. 128 | NO. 11 | Wednesday, January 16, 2013

County Wage Theft Ordinance Defeated

After weeks of discussion, talks between Shelby County Commissioner Steve Mulroy and leaders of the city’s hospitality industry broke down on Mulroy’s “wage theft” ordinance.

Solid Foundation

Shelby County homebuilders rally with strong 2012

Local homebuilders filed 26 percent more permits in 2012 than 2011, the culmination of a dramatic change in the market that began last May.

Al Gore in Memphis Next Month for Book Signing

Former Vice President Al Gore will be in Memphis next month to talk about and sign his new book.

New-Home Permits Jump 37 Percent in Quarter

Local homebuilders saw a 37 percent increase in filed permits in the fourth quarter year over year.

Permits Improve 24 Percent in December

Keeping in line with 2012’s trends, homebuilding activity in December saw a healthy increase from the same month in 2011.

Local Weather
Today
Memphis, TN
68°F
Fair
Wind: 3 mph
Humidity: 84%

EVENTS

Center City Development Corp. board of directors will meet Wednesday, Jan. 16, at 9 a.m. in the Downtown Memphis Commission conference room, 114 N. Main St. Visit downtownmemphis.com.

more events »

Health Care Alignment Trend Accelerates

The trend for alignment between hospital systems and private physicians hit the Mid-South in mid-2010 and has gained momentum since.

Public Relations Firm Hosts Business Symposiums

The Carter Malone Group LLC wants to help area small business owners figure out how the cookie crumbles, so to speak, when it comes to entrepreneurship and owning a business venture.

Schools Court Case Continues on Two Fronts

No new mediation sessions were scheduled as of Monday evening in the municipal school district court case in Memphis federal court.

MEMPHIS NEWSMAKERS

Guscette Named Sales Representative at P.O.P. Solutions

Ally Guscette has been promoted to sales representative at Germantown-based brand-marketing firm P.O.P. Solutions Group LLC. In her new role, Guscette will help businesses develop brand awareness through promotional products, press kits, print materials and point-of-purchase displays. She joined the company in 2011 as part of a sales team and begins Germantown Leadership training this month.

LOCAL COLUMNISTS

Online Reputation Could be Killing Business

A whopping 70 percent of consumers globally report trusting online reviews from strangers when making purchase decisions, according to Nielsen’s most recent Global Trust in Advertising study. In fact, four out of five consumers say they reverse their purchase decisions based on negative online reviews, according to a Cone study of online trends.

Three Components Will Determine 2013

Forecasting 2013 The fiscal cliff episode proved bullish for stocks. Fearful asset owners facing tax code uncertainty pulled outsized income and capital gains into 2012. Sellers quickly became buyers to complete the tax arbitrage. For the week ended Jan. 9, investors poured $18.3 billion into stock mutual funds and ETFs, the largest combined inflow in five years. This capital re-commitment has propelled the S&P 500 3.25 percent higher in 2013. Does this mean that 2013 will continue to see fantastic equity returns? Domestic stock returns are driven by three primary components – earnings, dividends and valuations. Let’s consider each to arrive at our forecast.

STATE GOVERNMENT

Jeb Bush Inadvertently Criticizes Haslam Priority

NASHVILLE (AP) – Former Florida Gov. Jeb Bush inadvertently took aim at one of Tennessee Gov. Bill Haslam's legislative priorities this year when the two appeared at an education forum.

Haslam to Introduce Own School Voucher Proposal

NASHVILLE (AP) – Gov. Bill Haslam confirmed Monday that he will introduce his own proposal to create a school voucher program in Tennessee, though he declined to elaborate about which parents he wants to make eligible to use public money to send their children to private schools.

REGIONAL

Beebe: Education, Economic Development Key in 2013

LITTLE ROCK, Ark. (AP) – Gov. Mike Beebe says he will need the Legislature's help to attract "one of the biggest" economic development projects the state has ever seen.

NATIONAL BUSINESS

Holiday Sales Rose 3 Percent, Retail Group Says

NEW YORK (AP) – Holiday sales rose 3 percent, a major retail trade organization said Tuesday well below its forecast for a 4.1 percent gain.

Wal-Mart to Hire Veterans, Buy American

NEW YORK (AP) – Why wait on Washington to fix the economy when there's Wal-Mart?

NATIONAL GOVERNMENT

USDA Offering Loans to Farmers Who Grow for Locals

MEMPHIS (AP) – The U.S. Department of Agriculture has created a new loan program to help small farmers, including growers who want to take advantage of the soaring interest in locally produced food.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 38 349 15,066
MORTGAGES 111 449 19,779
FORECLOSURE NOTICES 33 91 3,886
BUILDING PERMITS 0 512 35,842
BANKRUPTCIES 62 309 14,343
BUSINESS LICENSES 18 138 5,129
UTILITY CONNECTIONS 69 385 21,817
MARRIAGE LICENSES 13 106 4,663

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