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VOL. 129 | NO. 23 | Tuesday, February 4, 2014

International Paper Fourth-Quarter Earnings Nearly Double

Memphis-based International Paper posted lower-than-expected profits in fourth quarter 2013, in part from a write-down on the value of its xpedx distribution business.

More Than 30 Seconds

Super Bowl ads go beyond traditional to tell story

It’s official. Super Bowl advertising is no longer a one-night event. The marketing strategies that reigned supreme in Super Bowl XLVIII took the better part of January to accomplish and are still unfolding online even this week.

Office Occupancy Ends 2013 on High Note

An unusually strong fourth quarter helped push the overall Memphis office market occupancy rate into positive territory for 2013, according to year-end commercial real estate market reports.

City Council Reviews Raleigh Springs Mall Plan

Memphis City Council members get their first public detailed look Tuesday, Feb. 4, of an “urban renewal” plan for the Raleigh Springs Mall.

University of Memphis' Martin Challenges Dropout Premise

University of Memphis interim President Brad Martin says the premise that students coming out of high school are academically unprepared for higher education may not be as prevalent as it’s believed to be. And he adds that the university’s experience indicates students leave without graduating because of other factors.

Local Weather
Today
Memphis, TN
85°F
Partly Cloudy
Wind: 3 mph
Humidity: 63%

EVENTS

Rhodes College will present “Berlin 1885: La Ruee Sur L’Afrique (The Division of Africa)” as part of the Tournees French Film Festival Tuesday, Feb. 4, at 7 p.m. in the Blount Auditorium in Buckman Hall on campus, 2000 North Parkway. Cost is free. Visit rhodes.edu/tournees for upcoming films.

more events »

Legacy Wealth Management Grows Staff, Relocates

Legacy Wealth Management is starting 2014 with a handful of new faces and a move to a new office soon.

Mulroy Gets in County Mayor’s Race

Shelby County Commissioner Steve Mulroy considered a bid for Shelby County mayor for the second time in a year and Monday, Feb. 3, pulled a qualifying petition to enter the Democratic primary just more than two weeks before the filing deadline for candidates in the May 6 county primaries.

Beale Alterations Point to Possible Larger Changes

As a brass band leading a lunch-hour parade on Beale Street last Friday passed Handy Park, a crew wearing the district’s new uniforms for maintenance workers were taking down the Performa Entertainment sign outlining the ground rules for the park area.

'Old Man's Knee' May Bench Tigers' Pellom

University of Memphis forward David Pellom did not play Saturday, Feb. 1, at SMU because of a sore left knee. He did not practice Monday because of the knee, and Tigers coach Josh Pastner called Pellom “questionable” for the Tuesday, Feb. 4, game at FedExForum against Rutgers.

GOVERNMENT AGENDA

February 4 Memphis City Council Agenda

The Memphis City Council will meet Tuesday, Feb. 4, 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

Smucker Files $16 Million Permit for Plant Expansion

4789 Cromwell Ave., Memphis, TN 38118, Permit Cost: $16 million -

LOCAL COLUMNISTS

Mutuality – A Must in Fundraising

It’s not all about you. 

NATIONAL BUSINESS

US Factories Expanded at Much Slower Pace in January

WASHINGTON (AP) – U.S. manufacturing barely expanded last month as cold weather delayed shipments of raw materials and caused some factories to shut down.

Frigid Weather Pulls January Auto Sales Down 3 Percent

DETROIT (AP) – Auto sales slid 3 percent in January as bouts of snow, ice and frigid temperatures in much of the country kept buyers snug in their homes instead of venturing out to car dealers.

NATIONAL GOVERNMENT

Lew Urges Quick Action to Raise Debt Ceiling

WASHINGTON (AP) – Treasury Secretary Jacob Lew says he will start using emergency measures after Feb. 7 to avoid a first-ever default on the national debt. He says he expects to exhaust those measures quickly.

HEALTH CARE

Smith & Nephew to Buy ArthroCare in $1.5 Billion Deal

British medical technology company Smith & Nephew plans to buy U.S. medical device maker ArthroCare in a $1.5 billion deal that it says will strengthen its sports medicine business.

REAL ESTATE

December US Construction Spending Up 0.1 Percent

WASHINGTON (AP) – U.S. construction spending rose modestly in December, slowing from healthy gains a month earlier.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 72 238 10,116
MORTGAGES 103 297 13,172
FORECLOSURE NOTICES 0 40 2,578
BUILDING PERMITS 0 370 23,894
BANKRUPTCIES 75 227 9,760
BUSINESS LICENSES 20 71 3,674
UTILITY CONNECTIONS 126 390 14,353
MARRIAGE LICENSES 15 68 3,131

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