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VOL. 129 | NO. 163 | Thursday, August 21, 2014

Airport Authority OKs Concourse Overhaul

An ambitious effort to reconfigure Memphis International Airport for the future will get underway this fall, when demolition of portions of two concourses begins and a single concessions vendor takes control.

Another Round

Memphis Made adding taproom as local craft beer scene booms

Some time in October, lovers of local craft beers could enjoy a cold brew in a new tasting room at Memphis Made Brewing Co.’s facility in the Cooper-Young district.

TVA to Replace Allen Plant With Natural Gas

The 55-year-old Allen Fossil Plant in southwest Memphis will be replaced with a new $975 million natural gas plant to be built in the shadow of the original facility, the Tennessee Valley Authority board decided Thursday, Aug. 21, in Knoxville.

Source: Horizon Under Contract To Be Purchased

The Horizon, an uncompleted 16-story residential tower overlooking the Mississippi River on the southern end of Downtown, could change hands soon.

Bartlett Mayor McDonald Re-Elected at Filing Deadline

Bartlett Mayor Keith McDonald was re-elected to another four-year term of office at the noon Thursday, Aug. 21, filing deadline for candidates in four sets of suburban municipal elections on the Nov. 4 ballot.

City Union Presents Alternative Plan on Benefits

Memphis Fire Fighters Association president Thomas Malone takes the union’s plan for reversing city employee and retiree health insurance coverage cutbacks to a city oversight committee Thursday, Aug. 21, on employee issues.

Wine Referendums Down to Final Day

The deadline for signatures to be gathered on the still-forming proposed referendums to allow wine in grocery stores is Thursday, Aug. 21.

Sex Crimes Unit Completes ‘Eye-Opening’ Training

Memphis police officers working in the sex crimes unit have been in training this month about neurological changes in rape and sexual assault victims they work with.

Westin Memphis Honored for Community Service

When an F-5 tornado tore through Angela Copeland’s hometown of Moore, Okla., last year, she initially felt helpless.

Memphis Music Nonprofit to Honor Stevie Wonder

The music nonprofit launched by Memphis music icon David Porter has been busy since its launch in 2012, laying groundwork and assembling talent. Now it’s poised to bring a musical superstar to the city for a bash in October.

Mumford Teacher Cheating Scandal Takes High Toll

Federal prosecutors tallied the toll this week in the largest teacher exam cheating scandal ever pursued by authorities in the Western District of Tennessee.

LOCAL COLUMNISTS

In Case of Incapacitation

Ray’s take: A financial power of attorney is a powerful tool in your financial planning arsenal in the event your investments or other financial matters need action and you can’t do it.

Rail House Roots

Editor’s note: This is the third in a three-part series. “Rail house” is a term that businesses – especially restaurants and bars – near train tracks, or with railroad motifs, use in their names.

Fed-Casting the Next Six Months

The central questions for this aging bull market involve the timing, pace and degree of interest rate increases. Low interest rates make equity earnings larger and more valuable. Freeze interest rates here and stocks look cheap. Increase them to historical norms and stocks look expensive.

STATE GOVERNMENT

Easter Named to Tennessee Appeals Court Bench

NASHVILLE (AP) – Gov. Bill Haslam has named Circuit Judge Timothy Lee Easter of Brentwood to fill a criminal appeals court vacancy created by the retirement of Jerry L. Smith.

SPORTS

SEC: Schools Take Steps to Improve Fan Experience

BIRMINGHAM, Ala. (AP) – All 14 Southeastern Conference members have taken steps to improve the fan experience at league football stadiums, the league said.

NATIONAL BUSINESS

Bank of America Reaches $17 Billion Settlement With US

WASHINGTON (AP) – Bank of America has reached a record $17 billion settlement to resolve an investigation into its role in the sale of mortgage-backed securities before the 2008 financial crisis, officials directly familiar with the matter said Wednesday.

Macy's to Pay $650,000 in Shopper-Profiling Probe

ALBANY, N.Y. (AP) – Macy's has agreed to pay $650,000 to settle allegations of racial profiling at its flagship store in Manhattan's Herald Square.

Target Cuts Outlook as Breach Fallout Lingers

NEW YORK (AP) Target Corp. slashed its annual profit outlook for the second time in three months as the retailer reels from a massive customer-data breach, a botched Canadian expansion and sluggish U.S. sales.

NATIONAL GOVERNMENT

Yellen to Give Her Outlook as Fed Honeymoon Fades

WASHINGTON (AP) – Janet Yellen has won credit for guiding the Federal Reserve's first six months of transition from the Ben Bernanke era. Bernanke's Fed had steered the economy through a deep crisis by slashing interest rates and restoring confidence in banks. Yellen has so far carried on his approach with barely a hiccup.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 65 366 17,721
MORTGAGES 70 417 23,068
FORECLOSURE NOTICES 15 91 4,519
BUILDING PERMITS 210 932 42,157
BANKRUPTCIES 62 299 16,691
BUSINESS LICENSES 19 80 5,781
UTILITY CONNECTIONS 49 305 25,174
MARRIAGE LICENSES 16 96 5,381

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