VOL. 127 | NO. 15 | Tuesday, January 24, 2012
Regions Financial Corp. swung to a loss for the fourth quarter and ended 2011 with a loss for the full year.
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.
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.
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.
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same commission meeting a resolution to change the ground rules to permit a majority vote to remove the chairman was withdrawn.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.
Global public relations and communications firm Burson-Marstellar is opening a new division, Burson Campaigns, that will be based in Memphis.
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.
The youth-development organization BRIDGES has a new president.
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.
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.
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.
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.
Doug Collins has always believed that the greatest opportunities are found in troubled times.
REAL ESTATE RECAP
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.
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.
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.
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.
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.
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.
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.
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.
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.
WASHINGTON (AP) – Two government watchdogs that oversee consumer finance have inked a deal to avoid burdening businesses with overlapping regulations.
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.
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.
WASHINGTON (AP) – The Supreme Court ruled unanimously Monday that police must get a search warrant before using GPS technology to track criminal suspects.
DEERFIELD, Ill. (AP) – Chicago Bulls star Derrick Rose says his sprained left big toe might bother him the rest of the season.
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.