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VOL. 128 | NO. 109 | Wednesday, June 5, 2013

Delta to Cut Flights, De-Hub Memphis

Memphis is losing its status as a passenger hub for Delta Air Lines. Delta executives announced Tuesday, June 4, the Atlanta-based airline will cut service to Memphis International Airport to approximately 60 daily flights starting in September, down from 92.

Removing Barriers

Chisca redevelopment to properly connect Downtown sectors

While enjoying a meal near the Eiffel Tower in Paris, Terry Lynch reminisced on the wilting but salvageable Chisca Hotel in Downtown Memphis.

Chandler Reports Launches Online Storefront

A leading provider of real estate news has opened a new online storefront. Chandler Reports, which is owned by The Daily News Publishing Co., launched the store, store.chandlerreports.com, because of the high demand for detailed reports on local foreclosures, lending, and residential and commercial sales.

Wharton Proposes 15-Cent Tax Hike, Council Delays Budget Votes

Memphis City Council members delayed a series of seven budget and tax rate-related votes Tuesday, June 4, at the end of a busy day at City Hall.

‘Made in Memphis’ Study Points to Hiring Challenges

A new report on manufacturing jobs in the Memphis area shows rapid growth through 2016.

Local Weather
Today
Memphis, TN
70°F
Fair
Wind: 9 mph
Humidity: 49%

EVENTS

The Cooper-Young Business Association will feature Robbie and The Bandanas as part of the Red Hot Summer concert series Wednesday, June 5, from 6:30 p.m. to 8:30 p.m. in the gazebo at Cooper Street and Young Avenue. Cost is free. Visit cooperyoung.biz.

more events »

New EmergeMemphis Head Brings Big Ambitions

On his first day as the new president and CEO of EmergeMemphis, Carlton Crothers talked about a grand vision of “creating an innovation ecosystem” in Memphis.

Luttrell: City Has Year Left for Auto Inspections

The city of Memphis has a contract with the state of Tennessee and the Environmental Protection Agency to perform auto emissions testing through the next fiscal year, according to Shelby County Mayor Mark Luttrell.

Budget Vote Reveals Deep-Seated Differences

It wasn’t about line items when the Shelby County Commission approved a county operating budget Monday, June 3, for the fiscal year that begins July 1.

MEMPHIS NEWSMAKERS

Commercial Advisors Adds Jensen to Capital Markets Group

Luke Jensen has joined Cushman & Wakefield/Commercial Advisors’ Capital Markets Group. In his new role with the commercial real estate firm, Jensen focuses on investment sales, debt and equity, development, and principal deal sourcing and structuring.

LOCAL COLUMNISTS

Gender Matters in Advertising

While the gender divide among men and women continues to narrow in regard to workforce equality, recent research from Nielsen NeuroFocus, reported by TechVibes, uncovers significant differences in the way men and women think and make purchase decisions. In fact, the mere manner in which the two genders process information is fundamentally different.

Financial Speed Bumps for Innovations

The creative process of birthing breakthrough innovations can provide a substantial top-line boon but too often suffers a fatal flaw felt in failed product launch after failed product launch.

Safe Can Sometimes Become Risky

When is safe unsafe? Ever since the Federal Reserve began its zero interest rate policies, investors have searched for higher yielding assets. This makes sense. If you need income to run your household or make your pension distributions, you must locate investments that provide yield. If Treasury bonds will not, what will?

STATEWIDE

Civil Rights Leader Will Campbell Dead at Age 88

NASHVILLE (AP) – The Rev. Will Campbell, a white minister who drew acclaim for his involvement in the civil rights movement, has died at the age of 88.

Dollar General Profit Up, Revises 2013 Guidance

GOODLETTSVILLE, Tenn. (AP) – Dollar General's fiscal first-quarter net income increased 3 percent as more customers visited its stores and shoppers spent more per transaction.

NATIONAL BUSINESS

US Trade Deficit Up 8.5 Percent to $40.3 Billion

WASHINGTON (AP) – The U.S. trade deficit widened in April, as demand for foreign cars, cell phones and other imported goods outpaced growth in U.S. exports.

NATIONAL GOVERNMENT

Obama Nominates 3 to Appeals Court, Testing GOP

WASHINGTON (AP) – Opening a summer showdown with Congress, a combative President Barack Obama nominated three judges to a powerful appellate court Tuesday and challenged Republicans to stop the "political obstruction" holding up his nominees.

Senate Introduces No Child Left Behind Successor

WASHINGTON (AP) – The one-sized-fits-all national requirements of No Child Left Behind would give way to standards that states write for themselves under legislation Senate Democrats announced Tuesday.

Watchdog: IRS Enjoy Luxury Rooms at Conference

WASHINGTON (AP) – Already under siege, the Internal Revenue Service was cited by a government watchdog for a $4.1 million training conference featuring luxury rooms and free drinks, even as conservative figures told Congress Tuesday they had been abused for years while seeking tax-exempt status.

REAL ESTATE

FHA Reverse Mortgage Losses May Require Bailout

WASHINGTON (AP) – The head of the Federal Housing Administration says her agency may need as much as a $1 billion rescue package to bolster its reserves despite efforts to shore up its finances with higher mortgage insurance premiums.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 109 433 13,330
MORTGAGES 114 591 17,349
FORECLOSURE NOTICES 11 93 3,391
BUILDING PERMITS 0 366 30,930
BANKRUPTCIES 76 352 12,695
BUSINESS LICENSES 21 108 4,597
UTILITY CONNECTIONS 77 564 19,457
MARRIAGE LICENSES 29 151 4,060

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