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VOL. 125 | NO. 227 | Monday, November 22, 2010

Most Local Banks on Right Track, Fed Shows

Most Memphis-based banks are back in the black and are meeting at least the minimum standard to be considered adequately capitalized, according to preliminary third quarter data from the Federal Reserve Bank of St. Louis.

Daisy Déjà Vu

History returns to Old Daisy stage

The head of the Beale Street Development Corp. (BSDC) plans to open the Old Daisy Theater on Beale Street in February as an interpretive center on the history of the entertainment district.

Belden Buys Thomas & Betts Unit for $78M

NEW YORK (AP)Thomas & Betts Corp. said Monday it sold its communications products business to Belden Inc. for $78 million in cash.

Morgan Keegan Bond Fund Investors Win $1.8M

A burned investor in Morgan Keegan & Co. Inc.’s former family of soured bond funds has along with his wife won a seven-figure arbitration award against the Memphis investment banking firm.

MED Foundation Unveils Elvis Souvenir Plate

The MED Foundation received phone calls and e-mails from Elvis fans around the world in 2005 when it began offering the first authentic license plate bearing the image of the King of Rock ‘n’ Roll.

Cadence Agrees to Plan From St. Louis Fed

Cadence Financial Corp., which has endured several rough quarters and recently announced a merger with a private equity company, has entered into a written agreement with the Federal Reserve Bank of St. Louis.

Commission Considers IT Consolidation, New Position

Shelby County commissioners take up the issue of consolidation once again at Monday’s meeting of the body.

MCS Officials Discuss Charter Surrender Options

County government’s IT discussion isn’t the only evidence of an afterlife for other forms of consolidation in the wake of the Nov. 2 consolidation referendum.

MMBC Honors Minority Biz Achievements

The new chairman of the Greater Memphis Chamber told those at the annual Mid-South Minority Business Council awards luncheon that minority business is about more than “the spend.”

Deficits Rising for Most College Athletic Departments

With most college athletic departments, including the University of Memphis, operating at substantial deficits, the college financial system must be reformed.

Mark’s Menus Brings Ease to Restaurant, Menu Searches

Scott Brown, head of technology for Microplace.com, eBay’s microfinance initiative, left Silicon Valley in July 2008 and returned to his native Memphis to launch a technology start-up.

Jabba the Hutt and Sumo Wrestlers

I recently received a phone call and e-mail from CBS News “60 Minutes” producer Julie Holstein. She had seen some stuff I wrote, liked it and wanted to talk to me for background on the effect of Bush tax cuts expiring in December, particularly on small-business owners.

Give Back to Help Fight Crime

Last week we examined how you can create an exclusive marketing promotion that creates a win-win for your company and supported nonprofit. This week, based on input from Trevor Beahm with masterIT, let us look at how giving back can actually help save lives and fight crime.

THE MEMPHIS NEWS

Healthy Industry

Throughout a prolonged recession and anemic recovery, hospitals and health care companies have given Memphis a powerful antidote to an ailing economy.

Hernandez’s Journey Leads to Campbell Clinic

George Hernandez’s career in health care administration has taken him across the country and back.

The West Clinic Ramps Up Clinical Trials

The West Clinic will be doing more early-stage clinical trials so its doctors can prescribe and test cancer drugs straight from the discovery lab.

CCHS, Donlon Help City’s Underserved

When Rick Donlon and three other newly minted doctors came to Memphis in the mid-1990s, they were attracted by circumstances most might not find so attractive: the largest concentration of medically-underserved communities in the state.

Industry Drives Our Economic Health

The health care industry is a city within our city – a “medtropolis” as political and business leaders sometimes call it.

Turning the Page

Davis-Kidd Booksellers has something in common with the classics found on its shelves.

Christmas Tale of BB Gun And Leg-Shaped Lamp Hits Stage

Playhouse on the Square and Circuit Playhouse are adding the Memphis premiere of a classic about Christmas gone hilariously wrong to their trio of holiday performances. Circuit Playhouse presents “A Christmas Story,” opening Nov. 26. The 1983 film version of the play, starring Peter Billingsley as 9-year-old Ralphie Parker, single-handedly made the phrase “you’ll shoot your eye out” a household joke and started a national craze for leg-shaped bordello lamps.

Italian Eatery to Take Over Dish’s Cooper-Young Site

Italian is coming to the intersection of Cooper and Young.

Thanksgiving Wine List that Complements Most Feasts

Economy, shmonomy, don’t pretend that the burning question isn’t what wines Yours Truly will be serving with the Thanksgiving feast. So here they are, the same wines that I have offered annually each year of the past five, when we moved to new digs, but the vintages (and the prices) advance. I bought these products at Wine Market; I had gone in to look at the new store (4734 Spottswood) and realized that it would be a good chance to corral the festive vino. I’ll include other stores where these wines are available: remember that prices can vary among stores.

GOVERNMENT AGENDA

Shelby County Commission Agenda

The Shelby County Commission will meet today at 1:30 p.m. in the Shelby County Administration Building, 160 N. Main St. Click on the meeting icon for a full agenda.

STATEWIDE

Tenn. Ed. Commission Backs 7 Percent Tuition Hike

NASHVILLE (AP) – The Tennessee Higher Education Commission voted Thursday to recommend a tuition increase of at least 7 percent at state universities and a minimum of 5 percent at community colleges and technology centers.

Capitol Repairs Make Haslam Office Space Uncertain

NASHVILLE (AP) — The date for Gov.-elect Bill Haslam to be sworn into office is set for Jan. 15.

REAL ESTATE

More Than Half Leave Obama Mortgage-Aid Program

WASHINGTON (AP) – More than half of the 1.4 million homeowners who enrolled in the Obama administration's flagship foreclosure-prevention program have fallen out.

NATIONAL BUSINESS

Harrah's Cancels Plans for IPO

LAS VEGAS (AP)Harrah's Entertainment Inc. canceled its initial public offering Friday, folding its hand for now on a risky bet on returning to the stock market just three years after it went private.

Work on Wal-Mart Museum Turns up Old Artifacts

BENTONVILLE, Ark. (AP) — Renovation work on the Wal-Mart Visitors Center, in the original Walton's Five & Dime and an adjacent building in downtown Bentonville, is providing a look at the origins of both the giant retailer and the city.

NATIONAL POLITICS

Bowles Says Deficit Report Can't be Sugar-Coated

WASHINGTON (AP) – Deficit reduction commission co-chairman Erskine Bowles says he won't "do a whitewash" on the call for austerity measures merely to get a bipartisan consensus among panelists.

Bernanke Defends Bond-Purchase Plan, Warns China

WASHINGTON (AP) – Federal Reserve Chairman Ben Bernanke hit back at critics, both at home and abroad, who have challenged the central bank's $600 billion bond-purchase program.

Airports Consider Congressman's Call to Ditch TSA

ATLANTA (AP) – In a climate of Internet campaigns to shun airport pat-downs and veteran pilots suing over their treatment by government screeners, some airports are considering another way to show dissatisfaction: Ditching TSA agents altogether.

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Blog News, Training & Events
RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 86 393 21,159
MORTGAGES 94 424 24,785
FORECLOSURE NOTICES 0 93 8,703
BUILDING PERMITS 173 1,010 43,347
BANKRUPTCIES 52 292 14,194
BUSINESS LICENSES 15 90 6,491
UTILITY CONNECTIONS 28 167 13,678
MARRIAGE LICENSES 12 89 5,158

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