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VOL. 129 | NO. 171 | Wednesday, September 3, 2014

AutoZone Agrees to Buy Parts Distributor

A few weeks ahead of its fiscal fourth quarter earnings announcement, Memphis-based AutoZone Inc. disclosed it’s reached a deal to buy Interamerican Motor Corp., the second-largest distributor of original equipment import replacement parts in the U.S.

UTHSC Expands Footprint

College of Pharmacy finding ways to compete

Of the six colleges and schools of pharmacy in the state, the University of Tennessee Health Science Center’s College of Pharmacy by far has the lowest annual tuition – around $21,000 as compared to about $31,500 for the next-lowest, Union University.

Human Resources Seminar to Examine Office Cultures

Russ Williams, CEO of Memphis-based marketing communications firm archer-malmo, doesn’t want to take credit for the creative vibe and culture found inside his firm – and, moreover, he doesn’t even think the firm has necessarily cracked any kind of secret code to put its own culture in place.

Council To Review Conflicting Health Insurance Numbers

City government’s open enrollment period for health insurance begins in October and new details of health insurance benefit cuts approved in June go in the mail later this month. Yet Memphis City Council members meet in a special committee session next week to again review conflicting numbers from actuaries on the coverage.

Push for Broader Minority Business Participation Grows

A larger share of business for minority- and women-owned local businesses should begin with an inventory that matches existing businesses with existing opportunities.

Local Weather
Today
Memphis, TN
32°F
Fair
Wind: 7 mph
Humidity: 75%

EVENTS

The Downtown Memphis Commission Design Review Board will meet Wednesday, Sept. 3, at 4 p.m. in the Downtown Memphis Commission conference room, 114 N. Main St. Visit downtownmemphiscommission.com.

more events »

Home Builders Group Buys Building for Headquarters

The West Tennessee Home Builders Association has paid $4.4 million for an office building at 5400 Poplar Ave. in East Memphis that will house the organization’s new headquarters.

Delta Resuming Cancun Service in December

Delta Airlines will resume nonstop service between Memphis International Airport and Cancun International Airport in December.

Redbirds Prepare for Playoffs Appearance

First-year Memphis Redbirds general manager Craig Unger grew up a St. Louis Cardinals fan and he spent the last five years working in the team’s front office. He even wears a huge World Series ring from the team’s 2011 championship.

NEWSMAKERS

Stepherson Named Chair-Elect of Grocers Association

Randy Stepherson has been named 2014-2015 chairman-elect of the Tennessee Grocers & Convenience Store Association board of directors. Stepherson is president of Stepherson Inc., the family- and employee-owned parent company of Superlo Foods, which has five Memphis-area locations, and Stepherson’s.

LOCAL COLUMNISTS

Brand Voice – Ultimate Competitive Advantage

Your brand is more than your logo. In fact, customers view brands through three distinct lenses – verbal, visual and experiential.

The Dollar Strikes Back

Movements between the dollar, euro, and yen profoundly impact global flows of goods and capital. Given recent language and policy shifts from the U.S. Federal Reserve (FED), the European Central Bank (ECB) and the Bank of Japan (BOJ), let’s re-examine global currency trends.

REGIONAL

Jet Maker Breaks Ground on Arkansas Expansion

LITTLE ROCK, Ark. (AP) – Dassault Falcon Jet has officially begun work on a $60 million expansion of its private jet finishing plant at Little Rock's airport.

Mississippi Holds First Tax-Free Sportsmen Holiday

JACKSON, Miss. (AP) – If you're a sportsman, this weekend is your holiday.

FedEx Building New Distribution Center in Louisiana

COVINGTON, La. (AP) – Land is being cleared in St. Tammany Parish for a 175,000 square-foot distribution center for Federal Express.

NATIONAL BUSINESS

US Manufacturing Grows at Fastest Pace in 3 1/2 Years

WASHINGTON (AP) – U.S. manufacturing grew in August at the strongest pace in more than three years as factories cranked out more goods and new orders rose.

Some Fear Auto Industry Returning to Bad Habits

DETROIT (AP) – Big discounts. Six- or seven-year loans, in some cases to buyers who would have been turned down in the past.

Dollar General Raises Family Dollar Bid to $9.1 Billion

GOODLETTSVILLE, Tenn. (AP) – Dollar General upped its bid for the rival Family Dollar chain and addressed an earlier roadblock, saying that it will more than double the number of stores it would shed to ease the antitrust concerns of its takeover target.

REAL ESTATE

US Home Prices Rose at Slower Pace in July

WASHINGTON (AP) – U.S. home prices rose in July but at a slower rate compared with earlier this year. The moderating price increases could help support sales.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 63 269 16,682
MORTGAGES 85 313 21,745
FORECLOSURE NOTICES 0 56 4,322
BUILDING PERMITS 0 209 39,587
BANKRUPTCIES 65 287 15,829
BUSINESS LICENSES 16 67 5,558
UTILITY CONNECTIONS 126 413 23,986
MARRIAGE LICENSES 22 94 5,129

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