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VOL. 127 | NO. 4 | Friday, January 6, 2012

Parkway Sells Majority of Memphis Portfolio

Parkway Properties Inc. has sold the majority of its Memphis portfolio, totaling 672,247 square feet, to Hertz Investment Group LLC.

Philanthropic Photography

Pictures keep city’s homeless, underprivileged in focus

Whereas many people are accustomed to ignoring the homeless, photographer Bill Piacesi devotes himself to taking a closer look.

FedEx Pays $370K to Settle Export Claims

Memphis-based FedEx Express, a subsidiary of FedEx Corp., has come to terms with the U.S. Department of Commerce on six alleged civil violations of U.S. export regulations.

Obsidian PR Expands to Dallas

Obsidian Public Relations, a 6-year-old Memphis-based PR firm, is opening a Dallas office this spring.

Trane Signs Lease on Tradeport Drive

Trane U.S. Inc. has finalized its 625,000-square-foot industrial lease in Southeast Memphis after the deal process initially began in January 2011.

Local Weather
Currently
Memphis, TN
72.0°F
Mostly Cloudy
Wind: from the South at 10.4 gusting to 16.1 mph
Humidity: 94%

EVENTS

WKNO/Channel 10 will host a “Downton Abbey” tea party Saturday, Jan. 7, at 4 p.m. at the WKNO Digital Media Center, 7151 Cherry Farms Road. The free event will feature tea and crumpets, prizes and a screening of the first episode of the second season of “Downton Abbey.” Tickets are free but limited. For tickets, call 458-2521 or visit www.wkno.org/events.

more events »

Millington Company Provides Key Supply Chain Link

Much of the shoptalk in logistics is about the journey goods make by roads and rail and jet and by river or sea.

Fred's Key December Revenue Figure Edges Down

MEMPHIS (AP) – Discount store operator Fred's Inc. said Thursday that sales in stores open at least a year slipped by 0.4 percent in December, slowed by unseasonably warm weather.

MEMPHIS STANDOUT

Morrison Begins Term as City Council Chair

There were some on the Memphis City Council who thought that maybe Bill Morrison wouldn’t be back for a second four-year term – let alone start it by being chairman of the council for the next year.

SPORTS

Second Win Over Tennessee Shows Tigers Hitting Stride

The sky isn’t falling and Joe Jackson isn’t transferring.

Clean Gene: Never Forgotten

In Memphis, the Gene Bartow story is easily told: He’s the only coach to take the Tigers to an untainted Final Four.

Gay Leads Grizzlies to 90-86 Win Over Timberwolves

MINNEAPOLIS (AP) – The Memphis Grizzlies saw that Zach Randolph wasn't there to help them on Wednesday night, so they played harder.

Mississippi's Leading Scorer Nelson Arrested

OXFORD, Miss. (AP) – Mississippi's leading scorer Dundrecous Nelson was arrested and charged with possession of paraphernalia by the Oxford Police Department on Wednesday.

D Weber Cleared to Play From Concussion

NASHVILLE (AP) – Nashville captain Shea Weber has been cleared to play in his return from a concussion that kept him out of four games, and he is expected to play Thursday night against Dallas.

FIFA Targets Informers to Help Fight Match-Fixing

ZURICH (AP) – FIFA is working with informers inside organized crime syndicates to help protect the World Cup from match-fixing and betting plots.

LOCAL COLUMNISTS

Making a Personal Hook

CAUGHT FOR LIFE. At five o’clock on a Sunday morning in 1969 the phone in the frat house rang. When a phone rings at that time on that day in a frat house, it’s a wrong number, bad news or somebody calling for bail money. This call was for me.

Get Ready for a Year of Promise

Happy New Year! We’ve been hearing whispers that 2012 may – just may – be a more prosperous than 2011. There may be more jobs, less unemployment and more good circulating throughout Memphis and the Mid-South. We believe in preparing for the best of times, placing stock in the adage that luck favors the prepared. In term of fundraising for nonprofit organizations and institutions, preparation is always the bedrock.

NATIONAL BUSINESS

Retailers Report Solid Finale to Holidays

NEW YORK (AP) – Many retailers are reporting solid sales gains for December, capping a decent holiday season, but shoppers bent on discounts exacted a high price.

US Service Companies Grew at Faster Pace in December

WASHINGTON (AP) – U.S. service companies grew at a faster pace in December, helped by an economy that gained strength in the final months of the year.

Target Cuts Outlook After Dec. Misses Expectations

NEW YORK (AP) – Target lowered its earnings expectations Thursday following a disappointing December, with consumers waiting until the last minute to shop as well as weak sales of electronics.

Macy's Raises Profit Outlook; Doubles Dividend

CINCINNATI (AP)Macy's Inc. is raising its earnings outlook for the fourth quarter and full year due to a strong holiday season and says it will double its quarterly dividend to 20 cents a share. The retailer is also increasing its share repurchase program by $1 billion.

Moody's May Downgrade Some Walgreen Ratings

NEW YORK (AP) – Moody's Investor Service is putting some of Walgreen Co.'s credit ratings on review for a potential downgrade after the expiration of the drugstore operator's contract to participate in the Express Scripts pharmacy network.

US Album Sales Rise for First Time Since 2004

LOS ANGELES (AP) – U.S. album sales rose more than 3 percent last year for the first gain since 2004 – a sign that rising digital sales are finally stemming the decade-long decline of compact discs.

NATIONAL GOVERNMENT

GOP Hopefuls Assail Obama Labor Board Appointments

WASHINGTON (AP) – With an eye on the upcoming South Carolina primary, Republican presidential candidates on Thursday assailed President Barack Obama for bypassing the Senate to name three new members to the National Labor Relations Board.

IRS Contacts 1 in 8 Millionaires for Extra Taxes

WASHINGTON (AP) – The Internal Revenue Service says it sought extra tax payments last year from 1 in 8 people earning more than $1 million annually.

White House Announces Summer Jobs Initiative

WASHINGTON (AP) – President Barack Obama is looking to boost summer job prospects for kids.

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Blog News, Training & Events
RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 78 78 13,921
MORTGAGES 93 93 16,098
FORECLOSURE NOTICES 0 0 2,202
BUILDING PERMITS 242 242 28,995
BANKRUPTCIES 59 59 8,985
BUSINESS LICENSES 29 29 4,730
UTILITY CONNECTIONS 0 0 5,534
MARRIAGE LICENSES 37 37 3,019

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The Memphis News: Business, politics, and the public interest.