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VOL. 125 | NO. 228 | Tuesday, November 23, 2010

School Funding Mediation on Table for Council

As Memphis City Council members close out the third year of their current four-year term of office, the 13-member body continues to deal with the fallout from one of the first major actions the council approved.

'Eat and Enjoy'

City Market opening to Downtowners’ delight

It’s only a matter of days before Downtowners can start bringing their grocery lists to the corner of Main Street and Union Avenue.

Medtronic Q2 Profit Falls 35 Percent on Costs

MINNEAPOLIS (AP) — Medtronic's fiscal second-quarter net income fell 35 percent as legal and other costs outpaced weak gains in medical device sales, but adjusted results met Wall Street expectations.

Fred's Q3 Net Income up on Better Merchandising Mix

MEMPHIS (AP) — Fred's Inc. said Tuesday that its third-quarter net income surged 56 percent, partly because of its improved merchandise mix and remodeled and upgraded stores.

Commission Approves Optional IT Centralization

Votes Down Twitter Ban

Shelby County Commissioners approved the framework for a voluntary consolidated information technology (IT) system in county government. But the commission also voted down creating the position of Chief Information Officer (CIO) to oversee the more coordinated system.

Local Weather
Currently
Memphis, TN
43.0°F
A Few Clouds
Wind: South at 4.6 mph
Humidity: 51%

EVENTS

The Downtown Neighborhood Association will meet Tuesday at 6 p.m. at Calliope Event Space, 456 Tennessee St. Katie Kitchin, head of Mayor A C Wharton Jr.’s task force to end homelessness in Memphis, will speak.

more events »

FHA Program Encourages Home Improvement

While many real estate agents advise homebuyers to address a home’s problems before closing on it, the Federal Housing Administration has a different approach.

MMBC Honors Minority Business Achievements

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

Angel Tree Brings Christmas Joy to Needy Kids, Seniors

Lured by the Memphis Academy of Health Sciences choir’s high-energy gospel rendition of “O Come All Ye Faithful,” a lunchtime crowd of curious onlookers filtered into the center of Oak Court Mall Friday during the official launch of the Salvation Army’s Angel Tree program.

Construction Slated for Solana Senior Facility

8199 Poplar Ave., Germantown, TN 38053, Permit Amount: $19 million -
Plans are moving forward for a 182-unit senior living facility at 8199 Poplar Ave. east of Kimbrough Road in Germantown, with a building permit recently filed with the city-county Office of Construction Code Enforcement.

Fed’s Gambit Aimed at Chinese Currency

Advantage USA The currency “cold war” between the U.S. and China is heating up. President Barack Obama’s recent trip to China resulted in a bruised ego and little economic compromise. U.S. Treasury secretary Timothy Geithner fruitlessly chastises China for their hesitance to appreciate the yuan. The House of Representatives loaded the tariff cannon with import duties to offset any perceived currency advantages. Where Obama, Geithner and Congress have failed in their efforts to politic the yuan higher, Federal Reserve chairman Ben Bernanke may be succeeding. My conspiracy theory that the target of QE2 was not inflation, interest rates or unemployment rates, but the Chinese yuan, looks more plausible after these recent comments from Bernanke:

GOVERNMENT AGENDA

Memphis City Council Agenda

The Memphis City Council will meet today at 3:30 p.m. in the Council chambers in City Hall, 125 N. Main St. Click on the meeting icon for a full agenda.

MEMPHIS AREA

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.

STATEWIDE

Program Seeks to Help State Government Leaders

NASHVILLE (AP) – A new program is seeking to improve the leadership skills of people in state government.

NATIONAL BUSINESS

Where Fewer Foreclosures are Now Bad for Business

CAPE CORAL, Fla. (AP) – Across the nation, troubled homeowners have cheered the news that some banks are slowing the foreclosure process to review questionable documents. Then there are places like Lee County, Fla., where not everyone is applauding.

Humana to Purchase Health Care Company Concentra

LOUISVILLE, Ky. (AP) – Health insurer Humana Inc. plans its first broad foray into health care delivery in nearly two decades with its intended purchase of Concentra Inc. in an approximately $790 million cash deal announced Monday.

Early Deals Draw Shoppers, Raise Retail Spirits

NEW YORK (AP) – Shoppers spent a bit more in early November, raising retailers’ spirits about the holiday season right before it kicks into high gear.

Health Plans Must Spend Premiums on Medical Care

WASHINGTON (AP) – Health insurance premiums should go for actual medical care – not insurers’ overhead and profits – the Obama administration said Monday in rules that for the first time require the companies to give consumers a rebate.

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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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