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VOL. 128 | NO. 13 | Friday, January 18, 2013

Sammons Elected Airport Board Chair

Jack Sammons was elected Thursday, Jan. 17, as the new chairman of the Memphis-Shelby County Airport Authority board of commissioners.

Signs of the Times

Electrolux plant shows shift in economic development strategies

Memphis Mayor A C Wharton Jr. called the Electrolux Memphis manufacturing plant a “monster plant” this week after a tour of the $266 million manufacturing center in Frank C. Pidgeon Industrial Park.

First Horizon Posts $41 Million Profit

Memphis-based First Horizon National Corp. booked a profit of $41 million in the fourth quarter and generated earnings in line with Wall Street expectations of 17 cents a share.

Victory Packaging Relocates to Memphis

Victory Packaging soon will relocate its entire Southaven branch operation to the Southeast Memphis industrial submarket.

Construction Nears for Crews Ventures Lab

Construction is about to get under way on the University of Memphis’ Crews Ventures Lab, a business startup facilitator and incubator that will expand the possibilities available to the school’s entrepreneurially minded students.

2012 Bankruptcies Steady in Shelby County

Bankruptcy filings in Shelby County were up slightly in 2012 compared to 2011. Chapter 13 filings with repayment plans made up most of the total.

Fourth-Quarter Bankruptcies Decline

The 3,144 bankruptcy filings in Shelby County during the last three months of 2012 equal about a fourth of the year’s total.

Club Crave Ends, Larger Beale Dispute Continues

Club Crave, the latest nightclub at 380 Beale St. with a history of violence, is dead.

MEMPHIS STANDOUT

Avant Finds Soul, Passion in South Main Neighborhood

In 2002, Ben Avant, now 35, was a young, Charleston, S.C.-based stock and bond trader with a world of possibilities at his feet and a heavy choice to make.

SPORTS

Is Grizzlies’ Best Behind Them or Yet to Come?

Is the Grizzlies’ potential not-yet-realized or grossly overestimated? That’s the only relevant question in the midst of Rudy Rumors, speculation about coach Lionel Hollins’ long-term future with the team, and the level of commitment new ownership is or isn’t willing to make in the here and now to this particular roster.

Pre-Grizz Comments Show Change is Coming

Deadspin.com has been getting a lot of publicity for breaking the story about the Manti Te’o girlfriend hoax. But the site also compiled a list that is of far more relevance to local NBA fans:

LOCAL COLUMNISTS

A General Invitation

COME ON BACK TO ELMWOOD, GENERAL FORREST. And bring the missus and the horse along. The family’s waiting.

Create a Mission, Vision and Plan

Successful fundraising begins long before a fundraising plan is ever created. It starts with your organization’s vision and mission. These two items are at the core of nonprofit operations. It is the vision and mission that drive your strategic direction and goals. And it is the strategic direction that influences fundraising and the use of funds.

STATEWIDE

Tennessee, Kentucky Plants Cooperate in Building Corvette

NASHVILLE (AP) – Two General Motors plants 90 miles apart will be utilized to build the newest incarnation of the Chevrolet Corvette sports car.

REGIONAL

Mississippi Economy Growing Slowly, Lawmakers are Told

JACKSON, Miss. (AP) – Mississippi's economy is growing gradually but still lags behind the pace of the U.S. economy overall, an expert told state lawmakers Thursday.

NATIONAL BUSINESS

US Jobless Aid Applications Fall to 5-Year Low

WASHINGTON (AP) – The number of Americans seeking unemployment aid plummeted to a five-year low last week, a hopeful sign the job market may be improving. But much of the decline reflects seasonal volatility in the data.

NATIONAL GOVERNMENT

Sheriffs, State Lawmakers Push Back on Gun Control

GRANTS PASS, Ore. (AP) – From Oregon to Mississippi, President Barack Obama's proposed ban on new assault weapons and large-capacity magazines struck a nerve among rural lawmen and lawmakers, many of whom vowed to ignore any restrictions – and even try to stop federal officials from enforcing gun policy in their jurisdictions.

AP IMPACT: Deficient Levees Found Across America

NEW ORLEANS (AP) – Inspectors taking the first-ever inventory of flood control systems overseen by the federal government have found hundreds of structures at risk of failing and endangering people and property in 37 states.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 74 312 15,378
MORTGAGES 125 389 20,168
FORECLOSURE NOTICES 0 86 3,972
BUILDING PERMITS 0 441 36,283
BANKRUPTCIES 53 231 14,574
BUSINESS LICENSES 9 64 5,193
UTILITY CONNECTIONS 71 312 22,129
MARRIAGE LICENSES 0 73 4,736

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