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VOL. 128 | NO. 120 | Thursday, June 20, 2013

FedEx Fourth-Quarter Profit Slumps 45 Percent

FedEx Corp. on Wednesday, June 19, reported fourth-quarter profit dropped 45 percent amid tepid economic growth and customers that chose less expensive and slower international shipping services.

Maintaining Citizenship

Medtronic Spine employees put being good corporate citizens to practice

For the fifth straight year, Memphis-based Medtronic Spine employees are spending the month of June volunteering at more than a dozen locations in the area.

Project Could Double Usable Space on President's Island

If the Memphis and Shelby County Port Commission can win a sizeable grant from the federal government, work to build railroad capacity on Presidents Island – which would eventually allow for the future development of up to 1,500 acres there – could begin in August.

City Budget Woes Affect 400 Employees

The numbers at play so far in the Memphis City Council’s long budget season are big.

A Year Later: ZeroTo510 Companies Still Going

Charleson Bell thought he and his associates had a solid business model for the startup they launched last year called BioNanovations, which is developing devices that use bionanotechnology for quickly diagnosing bacterial infections.

Lakeland Mayoral Race Features Three Contenders

With voters in all six of Shelby County’s suburban towns and cities to vote next month on forming their own public school districts, candidates in two of the towns are preparing for elections in the fall.

Data Point to Improving Housing Market

The average number of days a home in the Memphis area stayed on the market for the month of May dipped to a seven-year low for that month, providing more evidence of a housing market in recovery.

MEMPHIS LAW TALK

Ebelhar Finds Rewards In Move From Classroom

Jay Ebelhar was recently elected shareholder of Baker, Donelson, Bearman, Caldwell & Berkowitz PC.

LOCAL COLUMNISTS

Investing In House To Sell

Ray’s Take Finally and thankfully, the housing market seems to be making a bit of a comeback. Those years of drought actually created a pretty significant pent-up demand. However, homebuyers still expect more for their money. Exactly what that means varies: some want the biggest house possible and are willing to upgrade. Others want a move-in-ready home. The truth is even people willing to upgrade are more easily sold on a house that already looks great.

Old Ads Still Funny

Cleaning off a shelf, I came across the 2005 issue of “Uncle John’s Fast-Acting, Long-Lasting Bathroom Reader.” This series, by the way, has been around for a quarter-century now, and I’m long overdue to order the 2012 issue: the “Fully Loaded 25th Anniversary Bathroom Reader.”

STATEWIDE

Nuclear Regulatory Commission Proposes Fine Against TVA

KNOXVILLE, Tenn. (AP) — The Nuclear Regulatory Commission is proposing a $70,000 fine against the Tennessee Valley Authority for violations related to one of its East Tennessee nuclear plants.

NATIONAL BUSINESS

GAO Says Airline Merger Would Reduce Competition

DALLAS (AP) — A government analyst says the merger of American Airlines and US Airways would reduce competition on more than 1,600 routes traveled by more than 53 million passengers.

NATIONAL GOVERNMENT

Food Stamp Cuts Key to Farm Bill's Fate in House

WASHINGTON (AP) — Prospects for House passage of a new farm bill could turn on the level of food stamp cuts as key backers scrambled Wednesday to secure support for the five-year, half-trillion dollar measure.

Fed Suggests It's Closer to Slowing Bond Purchases

WASHINGTON (AP) — Chairman Ben Bernanke ended weeks of speculation Wednesday by saying the Federal Reserve will likely slow its bond-buying program later this year and end it next year if the economy continues to improve.

Fed Sees Lower US Unemployment, More Growth

WASHINGTON (AP) — The Federal Reserve sketched a slightly brighter picture of the U.S. economy this year and next, a sign it is moving closer to slowing its bond-buying program.

HEALTH CARE

Study: Wiser Medication Use Could Cut Health Costs

TRENTON, N.J. (AP) — If doctors and patients used prescription drugs more wisely, they could save the U.S. health care system at least $213 billion a year, by reducing medication overuse, underuse and other flaws in care that cause complications and longer, more-expensive treatments, researchers conclude.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 0 206 16,619
MORTGAGES 0 228 21,660
FORECLOSURE NOTICES 0 56 4,322
BUILDING PERMITS 0 209 39,587
BANKRUPTCIES 0 222 15,764
BUSINESS LICENSES 0 51 5,542
UTILITY CONNECTIONS 0 287 23,860
MARRIAGE LICENSES 0 72 5,107

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