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VOL. 128 | NO. 142 | Tuesday, July 23, 2013

Suburbs See Different Sales Tax Realities

While Shelby County and city of Memphis government leaders have grappled with the loss of property value and its impact on the property tax rates for both governments, suburban leaders have a different reality.

Labor of Love

Memphis musicians juggle making a living with making music

One morning a few days ago, Jeff Hulett woke up earlier than usual.

Real Estate Trends Focus of ‘Master Your Market’

Real estate industry professionals will have the opportunity this week to learn more about major trends in the local real estate market, including residential and commercial sales, new housing, foreclosures and lending practices.

Commission Approves $4.38 Property Tax Rate

Shelby County Commissioners approved a $4.38 county property tax rate Monday, July 22, ending a budget season that spilled into the first 22 days of the new fiscal year.

Cohen Addresses Paternity Test on MSNBC

U.S. Rep. Steve Cohen of Memphis told a national television audience Monday, July 22, that he wants to “get back to doing important work.”

Local Weather
Today
Memphis, TN
66°F
Fair
Wind: 6 mph
Humidity: 81%

EVENTS

The Booksellers at Laurelwood will host a discussion and book-signing with “Cookin’ With Corky’s” authors Jimmy Stovall, Andy Woodman and Barry Pelts Tuesday, July 23, at 6 p.m. at the bookstore, 387 Perkins Road Extended. Visit thebooksellersatlaurelwood.com.

more events »

Wunderlich Securities Begins Coverage of FedEx

Wunderlich Securities Inc. has added FedEx Corp. to its stock coverage universe, initiating coverage of the package shipping giant with a “buy” rating and a $120 price target.

REAL ESTATE RECAP

Presidents Island Property Sells for $1.1 Million

2269 Channel Ave., Memphis, TN 38106, Sale Amount: $1.1 million -
CHS Inc., an Inver Grove Heights, Minn.-based agribusiness, has paid $1.1 million for 18.5 acres at 2269 Channel Ave. on Presidents Island.

LOCAL COLUMNISTS

Evaluate Your Nonprofit From Funders' Perspective

Donors and funders don’t necessarily tell you why they won’t fund your nonprofit. Many will make their evaluation based your organization’s presentation and reputation without sharing their objections. But, if you know the criteria by which you will be judged, you can proactively prepare.

Earnings Deluge

Another week is in the books, resulting in another record close for both the Dow Jones Industrial Average and the S&P 500. Buoyed by some more accommodative comments from Federal Reserve Chairman Ben Bernanke during Congressional testimony this week, investors took the occasion to prop the U.S. equity markets to new highs. Coinciding with Bernanke’s testimony, a deluge of second quarter corporate earnings announcements was released. As a reminder, in this space last week, we wrote,

STATE GOVERNMENT

New Report: State Must Improve Response to Trafficking Victims

NASHVILLE (AP) – A new state study shows Tennessee must improve its response to victims of human trafficking for recent changes in law to be effective.

NATIONAL BUSINESS

Survey: Brighter US Economic Outlook Boosts Hiring

WASHINGTON (AP) – Companies are increasingly confident the economy will grow at a modest pace over the next year and are hiring more, according to a survey of business economists.

Flowers Foods Completes Hostess Bread Buyout

THOMASVILLE, Ga. (AP) Flowers Foods Inc. has completed its $355 million acquisition of several breads, bakeries and other assets from the company previously known as Hostess Brands.

NATIONAL GOVERNMENT

House GOP to Slash Environmental, Arts Funding

WASHINGTON (AP) – House Republicans Monday proposed slashing cuts to environmental programs and funding for the Smithsonian Institution and the arts as they unveiled the latest legislation to implement the second year of budget cuts required under so-called sequestration.

REAL ESTATE

US Home Sales Dip But Remain Near 3.5-Year High

WASHINGTON (AP) – U.S. sales of previously occupied homes slipped in June to a seasonally adjusted annual rate of 5.08 million but remain near a 3.5-year high.

HEALTH CARE

Obama Enrolling Star Power to Promote Health Care

WASHINGTON (AP) – President Barack Obama is enrolling some star power to promote health care.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 86 182 13,079
MORTGAGES 135 267 17,025
FORECLOSURE NOTICES 15 36 3,336
BUILDING PERMITS 366 366 30,930
BANKRUPTCIES 69 135 12,478
BUSINESS LICENSES 23 43 4,532
UTILITY CONNECTIONS 182 328 19,221
MARRIAGE LICENSES 32 67 3,976

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