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VOL. 128 | NO. 118 | Tuesday, June 18, 2013

City Council Again Tackles Budget, Tax Rate

Some Memphis City Council members say they are prepared for a long day Tuesday, June 18, at City Hall as they continue down the arduous path to a tax rate and budget for the coming fiscal year.

Fresh Start

Revival food truck returns to the streets with new owner

Years ago, after leaving the 9-to-5 of the corporate world, Cathy McKee decided she wanted to get more serious about cooking.

Strickland Pitches Budget Plan For Stable City Tax Rate

City Council budget committee chairman Jim Strickland plans to make his case Tuesday, June 17, for a set of city budget cuts totaling $26.3 million that would keep the city property tax rate at its current rate of $3.11.

Boyle Honors Past at 80th Anniversary Celebration

If it seems like the Boyle family has played a key role in Memphis since the city was founded, it’s because it has.

Schools Payroll Changed Back As Commission Okays Schools Budget

A week after announcing a change in when Shelby County Schools teachers get paid in the schools merger that begins July 1, interim schools superintendent Dorsey Hopson changed course. The change keeps teachers from the two systems on different pay schedules for the first year of the merger.

Multiple Reasons Forced Trail to Lose Funding

Bureaucratic snafus, a lack of city funds and the transformation of The Pyramid into a Bass Pro Shops store led the city to lose a $316,680 federal grant for a riverfront bike and pedestrian system.

NewME Accelerator Event Coming to Town

In the last 16 years, the number of firms owned by minorities and women has grown, but they still lag behind all firms in terms of revenue and employment, according to a report commissioned by American Express OPEN.

Educators Stress Consistency Amid Change

Three educators who have led schools inside and outside the conventional public school system locally say consistency at the school level will be important in a school year that will see a lot of change.

GOVERNMENT AGENDA

June 18 Memphis City Council Agenda

The Memphis City Council will meet Tuesday, June 18, at 3:30 p.m. in the Council chambers in City Hall, 125 N. Main St. Click on the meeting icon for an agenda.

REAL ESTATE RECAP

James Lee House Owner Files Construction Loan

690 Adams Ave., Memphis, TN 38105, Loan Amount: $1 million -
The new ownership group of the historic James Lee House at 690 Adams Ave. in Victorian Village has filed a $1 million construction loan for renovations of the property.

LOCAL COLUMNISTS

Issues to Weigh for Fundraising Annual Goal

We were recently asked what we thought about setting a fundraising goal for fiscal year 2014 by simply adding 10 percent to the 2013 goal. Good question. And of course we had questions of our own. The first of which was “did the nonprofit meet its 2013 goal?” The answer – and the reasons why – will be important to take into consideration when setting a goal for 2014.

STATEWIDE

Tennessee Officials Hope to Lure Fiat-Chrysler to State

PULASKI, Tenn. (AP) – State officials are making the case to Fiat head Sergio Marchionne to select Tennessee for the Italian automaker's joint headquarters with Chrysler Group LLC.

STATE GOVERNMENT

Tennessee GOP Supermajority Struggles to Find Footing

NASHVILLE (AP) – Tennessee Gov. Bill Haslam began the year by dismissing what he called misguided predictions that the new Republican supermajority in state government would devolve into infighting.

NATIONAL BUSINESS

Google Settles Suit, Clears Way for Stock Split

SAN FRANCISCO (AP) – Google has resolved a shareholder lawsuit blocking a long-delayed stock split, clearing the way for the Internet search leader to issue a new class of non-voting shares later this year.

NATIONAL GOVERNMENT

World Looks to Bernanke to Clarify Stimulus Plans

WASHINGTON (AP) – Is the era of ultra-low interest rates nearing an end? That's the question – and the fear – Chairman Ben Bernanke will face this week when he takes questions after a Federal Reserve policy meeting.

REAL ESTATE

Homebuilder Confidence Soars

For the first time in seven years, most U.S. homebuilders are optimistic about home sales, a sign that construction could help drive stronger economic growth in coming months.

HEALTH CARE

Supreme Court: 'Pay to Delay' Generic Drugs Can be Illegal

WASHINGTON (AP) – The Supreme Court ruled Monday that deals between pharmaceutical corporations and their generic drug competitors, which government officials say keep cheaper forms of medicine off the market, can be sometimes be illegal and therefore challenged in court.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 64 296 16,341
MORTGAGES 89 356 21,366
FORECLOSURE NOTICES 6 61 4,251
BUILDING PERMITS 199 701 39,202
BANKRUPTCIES 50 234 15,482
BUSINESS LICENSES 21 78 5,471
UTILITY CONNECTIONS 54 354 23,505
MARRIAGE LICENSES 8 78 5,018

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