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VOL. 128 | NO. 199 | Friday, October 11, 2013

Crosstown Wins 20-Year Tax Break

The $180 million project to revitalize the Sears Crosstown building won a 20-year payment-in-lieu-of-taxes (PILOT) agreement Thursday, Oct. 10, from the Center City Revenue Finance Corp.

Room Service

Hilton employees give back with makeover of homeless shelter

Hilton Worldwide celebrates its second Global Week of Service this week, and more than 700 Hilton employees are working locally on community involvement projects, such as this year’s signature event at the Pilgrim’s Rest housing facility, 747 Court Ave.

Airport Center Signs Two New Tenants

Memphis International Airport Center in Southeast Memphis has recently experienced positive leasing activity.

Martin Institute Launches New Teacher Network

The proposal that kick-started education reform in Memphis began with the statistic that 40 percent of teachers in the former Memphis City Schools system left by their third year as an educator.

Attorney General: Haslam Can Appoint Judges Without Finalists

Tennessee Gov. Bill Haslam can fill vacancies in state trial and appellate court positions without getting a list of finalists from the Judicial Nominating Commission, which went out of existence at the end of June.

SPORTS

What Tigers, Vols Need Now is Finishing Touch

They weren’t supposed to be in the game. Not the Tennessee Volunteers at home against Georgia, not the Memphis Tigers at home against Central Florida.

Leuer, Davis Provide Bright Spots in Preseason Loss

October makes for some great postseason baseball. But the preseason basketball? Not so great.

College Football Notebook: October 11, 2013

With back-to-back losses to No. 1 Alabama and an improved Auburn team, Ole Miss has fallen from the national rankings and is sitting at 3-2, 1-2 in the SEC.

Hogue Goes Distance for ‘Golf’ Contest

The swing and the sound really haven’t changed that much. The swing is still fast and violent. The sound upon contact is a still a loud “ping!” that signals the ball is about to travel a long, long way.

MEMPHIS STANDOUT

Ritchey's Business Helps Runners Reach Finish Line

Odds are great that if you know somebody in Memphis who runs, they got their start with Star Ritchey, who has found runaway success with her personal running and training program, Star Runners.

LOCAL COLUMNISTS

Know Your ABCs

THE ABCs OF PRE-K. If we are to pass the half-cent sales tax increase to fund prekindergarten for every child in Memphis, the newly appointed Memphis Pre-K Commission will need to learn their ABCs or get schooled by the voters again.

Private Labels Winning Brand Wars

Almost everyday the Studio faces challenges that private label competitors impose upon our branded products clients. More and more private label brands are taking lessons out of the innovation and brand strategy playbooks and getting ahead of the once category-leading brand product.

Purchasing Power as a Mental Construct

I frequently hear radio ads by mortgage companies touting the importance of “locking in low interest rates,” which will, theoretically, increase your “purchasing power.” The idea is, if you want a monthly mortgage payment of roughly $1,100, assuming a 6 percent fixed rate for 30 years, you can afford a $184,000 home; whereas a using a 5 percent interest rate and the same loan terms you could afford a $205,000 mortgage. The implication that for that extra $20,000 in loan amount, you can move up to a nicer home, maybe even a ritzier neighborhood.

NATIONAL BUSINESS

US Jobless Claims Jump to 374,000 Due to Backlog

WASHINGTON (AP) – The number of people applying for U.S. unemployment benefits jumped by 66,000 last week to a seasonally adjusted 374,000. But the spike was largely because California processed a huge backlog of claims and the partial government shutdown prompted some companies to cut jobs.

Airlines Dealt Setback in Merger-Lawsuit Trial

DALLAS (AP) – A court-appointed official says American Airlines and US Airways shouldn't get to know the names of all the people that the government interviewed and what they said before the Justice Department sued to block the airlines' proposed merger.

NATIONAL GOVERNMENT

Lew Urges Quick Increase in US Borrowing Limit

WASHINGTON (AP) – Treasury Secretary Jacob Lew on Thursday urged Congress to raise the government's borrowing limit before Oct. 17, warning that a Republican idea to prioritize payments with cash on hand could cause "irrevocable damage" to the U.S. economy.

As Shutdown Drags On, Time to Call in Mediator?

WASHINGTON (AP) – Maybe it's time to call in a mediator – if there's one not on furlough.

Feds to Let States Pay to Open Parks

WASHINGTON (AP) – The Obama administration said Thursday it will allow states to use their own money to reopen some national parks that have been closed because of the government shutdown.

HEALTH CARE

Poll: Health Exchange Rollout Gets Poor Reviews

WASHINGTON (AP) – The debut of the government's health insurance marketplaces drew a huge audience – and underwhelming reviews.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 70 134 16,547
MORTGAGES 72 144 21,576
FORECLOSURE NOTICES 9 35 4,301
BUILDING PERMITS 209 209 39,587
BANKRUPTCIES 80 149 15,691
BUSINESS LICENSES 15 28 5,519
UTILITY CONNECTIONS 117 201 23,774
MARRIAGE LICENSES 14 51 5,086

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