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VOL. 127 | NO. 15 | Tuesday, January 24, 2012

Regions Financial Posts Q4, Full Year Loss

Regions Financial Corp. swung to a loss for the fourth quarter and ended 2011 with a loss for the full year.

100 Days of Improvement

Wharton outlines plan to enhance communities, jumpstart local economy

Memphis Mayor A C Wharton Jr. promised in his state of the city address Monday, Jan. 23, to push the traditional parameters of city government and address long-term problems like the number of Memphians living in poverty.

Business Licenses Rise Slightly in 2011

The Shelby County Clerk’s Office issued 5,751 business licenses in 2011, according to The Daily News Online, www.memphisdailynews.com. It’s about a 5 percent increase from 2010, when 5,489 were filed in the county.

Slight Decline In Q4 Biz Licenses

Fewer business licenses were issued by the Shelby County Clerk’s Office in the fourth quarter of 2011 compared to the same period in 2010.

County Commission Starts Over On Redistricting, Resolves Some Turmoil

A seven-vote majority for leaving the Shelby County Commission at five districts collapsed dramatically Monday, Jan. 23. And at the same commission meeting a resolution to change the ground rules to permit a majority vote to remove the chairman was withdrawn. Meanwhile, a censure resolution against two commissioners also fizzled as larger differences among commissioners continued to emerge.

Local Weather
Currently
Memphis, TN
72.0°F
Mostly Cloudy
Wind: from the South at 17.3 gusting to 27.6 mph
Humidity: 57%

EVENTS

The University of Memphis will kick off the health lifestyle initiative “Memphis Health U” Tuesday, Jan. 24, at 11:30 a.m. with a pledge signing and health fair in the University Center. The event is open to the public.

more events »

Former FedEx Exec to Head New PR Office

Global public relations and communications firm Burson-Marstellar is opening a new division, Burson Campaigns, that will be based in Memphis.

Seminar Addresses Housing’s ‘New Reality’

As real estate professionals gather this week to take a look at the latest numbers and trends, they’ll also get a preview of the road ahead from some of the city’s top residential specialists.

Cynthia Ham is New BRIDGES President

The youth-development organization BRIDGES has a new president.

Grizzlies Rally From 20 Down to Beat Warriors 91-90

OAKLAND, Calif. (AP) – The Memphis Grizzlies built their longest winning streak in six seasons with a flurry of fast starts. They kept it going with one of the best finishes in franchise history.

Donations Up Nationwide, Local Nonprofits Still Struggle

Fundraising for nonprofits has returned to pre-recession levels, now exceeding the level of giving last seen in 2007, according to Blackbaud Inc., a Charleston, S.C.-based provider of software and services for nonprofits across the country.

Morgan Keegan Deal Coming Into Focus

The $930 million deal reached earlier this month in which Raymond James Financial Inc. is buying Morgan Keegan & Co. Inc. isn’t scheduled to close for several more weeks. Regulatory approvals are needed, plus there’s a lot of work ahead to integrate the two investment firms.

School Board Petitions Held Up by District Squabble

After they went after each other in a big way last week, Shelby County Commission members had a private attorney-client meeting with their attorneys in the federal schools consolidation lawsuit of 2011.

‘Contrarian’ Collins Finds Success in Tough Market

Doug Collins has always believed that the greatest opportunities are found in troubled times.

REAL ESTATE RECAP

Nursing Homes Sell For $30 Million

200 South Parkway W.
Memphis, TN 38109 -
An affiliate of Santa Ana, Calif.-based Grubb & Ellis Healthcare REIT II Inc. has bought Parkway Health & Rehab Center at 200 South Parkway W. – one of two local nursing home purchases involving the real estate investment trust and totaling nearly $30 million. The other purchase was for Millington Healthcare Center (details below). Both deals closed Jan. 10.

LOCAL COLUMNISTS

Shoes That Bring Hope

Last week we highlighted Big Brothers Big Sisters of Greater Memphis, which is helping children succeed and thrive in life through professionally supported one-to-one relationships with mentors. This week let us thank the volunteers who recently came out and helped us wash the feet of more than 200 kids here in Memphis, providing them with new socks and shoes, by spotlighting the organization and global ambassadors who are expressing love and compassion to the nearly 300 million people who go without shoes each day: Samaritan's Feet.

Keep Close Eye On Indicators

European Tailwind Markets continued their upward surge over the past week as more participants began trusting in the European crisis containment campaign. The reason we haven’t dedicated much copy to Europe recently is twofold.

NATIONAL BUSINESS

$25B Nationwide Mortgage Deal Goes to States

WASHINGTON (AP) – The nation's five largest mortgage lenders have agreed to overhaul their industry after deceptive foreclosure practices drove homeowners out of their homes, government officials said Monday.

All 2011 Unemployment Insurance Benefits Taxable

The jobless rate is dipping, but millions of people are still out of work. And that could have implications when they file their income tax returns.

JPMorgan Sneaks Up on BofA as It Adds Branches

LOS ANGELES (AP)JPMorgan Chase & Co. said Monday it plans to open about 175 more branches nationwide this year, including more than 80 in California, the latest sign that the bank hopes plain-vanilla lending will fuel its future growth.

Jury Selection Begins in Stanford Fraud Trial

HOUSTON (AP) – Jury selection has begun in the oft-delayed trial of jailed U.S. financier R. Allen Stanford, who is accused of bilking investors out of $7 billion in a vast Ponzi scheme.

NATIONAL GOVERNMENT

Fed Likely to Hint of No Rate Increase Before 2014

WASHINGTON (AP) – It could be quite a while yet before the Federal Reserve starts raising the interest rates it's kept at record lows for three years.

White House Delays Release of 2013 Budget

WASHINGTON (AP) – The White House said Monday that it's delaying for one week the release of President Barack Obama's budget for the 2013 fiscal year that starts Oct. 1.

Consumer Agency: We Won't ‘Double-Team’ Businesses

WASHINGTON (AP) – Two government watchdogs that oversee consumer finance have inked a deal to avoid burdening businesses with overlapping regulations.

Obama's Health Overhaul Lags in Many States

WASHINGTON (AP) – Here's a reality check for President Barack Obama's health overhaul: Three out of four uninsured Americans live in states that have yet to figure out how to deliver on its promise of affordable medical care.

Administration Nominees Awaiting Next Move by GOP

WASHINGTON (AP) – Senate Republicans are returning to Washington in an angry mood over President Barack Obama's appointments to two key agencies during a year-end break.

High Court: Warrant Needed for GPS Tracking

WASHINGTON (AP) – The Supreme Court ruled unanimously Monday that police must get a search warrant before using GPS technology to track criminal suspects.

SPORTS

Ex-Tiger Derrick Rose Says Toe Might be Issue Rest of Season

DEERFIELD, Ill. (AP) – Chicago Bulls star Derrick Rose says his sprained left big toe might bother him the rest of the season.

TECHNOLOGY

Study Finds Tablet, E-Book Ownership Soared

SAN FRANCISCO (AP) – Tablets and e-readers were a popular gift over the holidays, so much so that the number of people who own them nearly doubled between mid-December and January, a new study finds.

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Blog News, Training & Events
RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 89 344 19,573
MORTGAGES 110 422 22,914
FORECLOSURE NOTICES 0 8,303 8,303
BUILDING PERMITS 207 838 40,029
BANKRUPTCIES 60 356 13,104
BUSINESS LICENSES 21 194 6,137
UTILITY CONNECTIONS 30 147 12,996
MARRIAGE LICENSES 15 65 4,842

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