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VOL. 128 | NO. 130 | Thursday, July 4, 2013

Wharton: Revenue Officer Needed

Call it a “budget resolution.” A week after the Memphis City Council set the city’s operating budget, capital budget and a property tax rate of $3.40, council members and Memphis Mayor A C Wharton Jr. resolved Tuesday, July 2, to continue making changes in City Hall’s financial practices.

Eastward Bound

Columbus statue could move from Downtown to Marquette Park

Another Memphis park may be getting a name change just as the controversy over three Confederate-themed parks starts to move again at City Hall.

First Tennessee Bank Unveiling Concierge Service

The physical aspects of modern banking haven’t changed much in recent decades.

MEMPHIS LAW TALK

Clients, Service Take Precedence at Harris Law Firm

Michael Harris of The Harris Law Firm PLLC has high praise for the Drake University Law School, where he earned his juris doctorate.

Local Weather
Today
Memphis, TN
80°F
Cloudy
Wind: 0 mph
Humidity: 64%

EVENTS

The Daily News’ offices will be closed Thursday, July 4, in observance of Independence Day. Offices will reopen Friday, July 5, at 8:30 a.m. and remain open during normal business hours.

more events »

MEMPHIS STANDOUT

Bean’s Third Career Helps Researchers Around Globe

More than a decade ago, Bob Bean and Tim Hodge met at a Wendy’s near Baptist Memorial Hospital to discuss what it would take to develop a lab for genetically testing mice for use in research.

SPORTS

Franklin Looks to Honor ‘Grindson’ Nickname

One of basketball’s enduring lines is that if you’re open, there’s a reason. Does the same hold true for a player once projected as mid-first-round NBA draft choice slipping to No. 41 overall?

Grit ‘N’ Grind Lives On in Memphis

With apologies to the Rolling Stones, the Grizzlies’ off-season is its own lesson on the difference between what you want and what you need.

LOCAL COLUMNISTS

Think Before Giving Money to Children

Ray’s Take It’s natural to want to help out your adult kids or grandkids financially. However, it’s important to keep a close eye on your own financial situation as well as consider how any gifts could change your relationship with the recipients.

Central Bank Bumper Cars

Markets last week called Bernanke’s bluff and ended the second quarter on a high note. As we well know, Bernanke spooked markets with a timeline for dousing quantitative easing by mid-year 2014. Bond markets convulsed and the 10-year Treasury yield climbed from 1.61 percent to 2.67 percent. Why would Chairman Bernanke do such a thing?

Roaming Non-Rome

BELLAGIO, Italy – They don’t want you to nap too long in this town. Church bells ring about every seven and a half minutes, starting at 7:30. Chiming and chiding, they seem to say, “You’ve slept long enough.” (Good thing I don’t believe in jet lag. Who needs that third hour of sleep anyway?)

Notes on Freedom

“AMONG THESE ARE LIFE, LIBERTY AND THE PURSUIT OF HAPPINESS” There were no fireworks or moving speeches but there were a few original works and classical movements. There were no marching bands or patriotic songs, but there was a chamber orchestra and a soaring aria or two. There was no Thomas Jefferson or a hot Philadelphia afternoon in 1776, but there was Mohammad Amin Sharifi and a hot Memphis afternoon in 2013.

STATE GOVERNMENT

State Environmental Official Demoted After Terrorism Remark

NASHVILLE (AP) – A state environmental official who said unfounded water quality complaints could be considered acts of terrorism has been demoted.

NATIONAL BUSINESS

Survey: US Services Firms Grow Slower, Hire More

WASHINGTON (AP) – U.S. services firms grew at a slower pace in June from May but added more jobs. The figures offered a mixed sign for companies that employ roughly 90 percent of the workforce.

Gasoline Prices Begin Summer Slide

NEW YORK (AP) – Gasoline prices are on a summer slide, giving U.S. drivers a break as they set out for the beach and other vacation spots for the Fourth of July.

HEALTH CARE

Delay Stirs Broader Worries About Obama Health Law

WASHINGTON (AP) – A major part of President Barack Obama's health care overhaul has suddenly been delayed. Could other potential problems be lurking in the homestretch?

REAL ESTATE

US Rate on 30-Year Mortgage Falls to 4.29 Percent

WASHINGTON (AP) – Average U.S. rates on fixed mortgages fell this week after last week's surge. The declines could prompt homebuyers to act quickly before rates rise further.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 64 324 13,221
MORTGAGES 107 477 17,235
FORECLOSURE NOTICES 2 64 3,362
BUILDING PERMITS 0 366 30,930
BANKRUPTCIES 67 276 12,619
BUSINESS LICENSES 22 87 4,576
UTILITY CONNECTIONS 71 487 19,380
MARRIAGE LICENSES 28 122 4,031

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