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VOL. 126 | NO. 215 | Thursday, November 3, 2011

Pinnacle Posts Q3 Net Loss of $3.5M

Memphis-based Pinnacle Airlines Corp. posted a net loss in the third quarter of $3.5 million with special items or one-time expenses, including a new five-year labor agreement that includes bonuses for flight attendants and severance expenses for top executives.

Wealth of Experience

Jones lauds newspaper background at TDN anniversary gala

Paul Tudor Jones loves the feel of newsprint in his hands.

Wright’s Q3 Net Sales Drop 3 Pct.

Arlington-based medical device maker Wright Medical Group Inc. has reported a 3 percent decrease in net sales for the third quarter, citing distributor changes and challenges connected to implementing enhancements to the company’s compliance processes.

Karp Resigns as Mueller Chairman

The chairman of Memphis-based Mueller Industries Inc.’s board of directors is resigning at the end of the year.

City Passes New Wrecker Rules

Memphis City Council member Harold Collins says he has become “the wrecker city councilman” – the council member who garners the lion’s share of complaints about rogue tow truck operators and complaints from tow truck operators.

Local Weather
Currently
Memphis, TN
34.0°F
Fair
Wind: Northeast at 5.8 mph
Humidity: 73%

EVENTS

Leadership Memphis will host an information session about its fellows program Thursday, Nov. 3, from 6 p.m. to 7 p.m. at Junior League, 3475 Central Ave. For more information or to register, email Rod Moses at rmoses@leadershipacademy.org.

more events »

Event Spotlights Growing India-Memphis Relationship

The purchasing power of India’s growing middle class has American businesses racing to expand into that nation, and on Tuesday, Nov. 1, Memphis Bioworks Business Association hosted an event offering local bioscience and related companies insight into the tools and information they need to develop a presence in a market that’s moving from exporting to importing.

Memphis Bar Foundation Issues $50K in Grants

Last year, the Memphis Bar Foundation awarded grants totaling almost $44,000 to seven local causes – the largest grant amount in the foundation’s history.

Wharton Seeks Funds for Local, Minority Biz Owners

Memphis Mayor A C Wharton Jr. should roll out a multipart strategy to promote the growth of locally and minority owned small businesses early next year.

Wilkinson Follows Road Less Traveled

During his 50-year tenure in real estate, Dan Wilkinson helped establish the Memphis office of Colliers International as one of the dominant industrial real estate companies in the local market and has been involved in more than $1 billion in sales in Memphis and North Mississippi.

Kahane’s Practice Fueled By Real Estate Litigation

Primarily a general litigation attorney, Joshua Kahane of Glankler Brown PLLC focuses on settling often-tense real estate matters.

LOCAL COLUMNISTS

Follow Up Wisely To Close Sales

Too many sales professionals work tirelessly to land a sales meeting and develop their pitch, only to lose the sale in the end through a series of poorly constructed follow-up calls.

The Law of Crosswords

“Dear Judge Vic, I’ve heard that crosswords are considered mentally healthy. Can you address this topic? Also, I’d like to work on your crosswords, but I hear they have legal themes. I worry I might not be qualified. /s/ New Kid.”

Venture Forth, Entrepreneurs

As a general rule, when an entrepreneur is trying to obtain capital, first approaching family members and friends and then banks is the least “costly” approach. When attempting to work with a venture capitalist, the entrepreneur might have to give up more control, but typically ends up with much more to gain because working with venture capitalists opens the door to networking opportunities, new contacts and more access to additional funding.

STATEWIDE

Brewing Company Decides No Brewery in East Tenn.

ALCOA, Tenn. (AP) – A Blount County economic development executive says the Sierra Nevada Brewing Co. has decided against locating a brewery in Alcoa, even after state lawmakers changed a law to entice the venture to East Tennessee.

NATIONAL BUSINESS

401(k) Matches Restored by 75 Percent of Companies

DES MOINES, Iowa (AP) – Most of the companies that either suspended or reduced their 401(k) matches during the economic downturn have reinstated them, business consultant Towers Watson said in a study released Wednesday.

Unemployment Falls in 75 pct. of Large US Cities

WASHINGTON (AP) – Unemployment rates fell in about three-quarters of large U.S. cities in September, a sign that the nation's modest job gains that month occurred across most of the country.

MasterCard Q3 Profit Up 38 Pct as Card Use Rises

NEW YORK (AP) MasterCard Inc. said Wednesday its third-quarter profit soared 38 percent on a big spike in card use around the world.

Lawyers: Tentative Deal in $16M Mets-Madoff Suit

NEW YORK (AP) – Lawyers say they've reached a tentative settlement of a lawsuit blaming the New York Mets' owners for losing more than $16 million in 401(k) assets by investing with failed financier Bernard Madoff.

Syms and Filene's Unit Seek Bankruptcy Protection

NEW YORK (AP) – Discount retailer Syms Corp. and its subsidiary Filene's Basement have filed for bankruptcy protection and plan to close all 46 of their stores.

NATIONAL POLITICS

Fed Lowers Growth, Raises Unemployment Forecasts

WASHINGTON (AP) – The Federal Reserve has lowered its growth forecasts and raised its unemployment projections, suggesting the U.S. economy has a longer path to recovery.

Bernanke: Economic Growth to be Frustratingly Slow

WASHINGTON (AP) – Federal Reserve Chairman Ben Bernanke on Wednesday acknowledged that the pace of economic growth is likely to be "frustratingly slow," after the Fed downgraded its forecast for the next two years.

House Acts to Ease Small Company Regulations

WASHINGTON (AP) – The House moved Wednesday to make it easier for small companies and banks to raise capital – and presumably spur economic growth – without being faced with costly federal registration rules.

Senators Offer Plan to Keep Postal Service Solvent

WASHINGTON (AP) – Senators announced a bipartisan plan Wednesday to help keep the financially ailing Postal Service solvent and continue six-day mail delivery for at least two more years.

US Will Borrow $72B in Debt Auctions Next Week

WASHINGTON (AP) – The government will borrow $72 billion in debt auctions next week as part of its quarterly funding process.

100 Lawmakers to Debt Panel: Consider All Options

WASHINGTON (AP) – Forty House Republicans joined 60 Democrats Wednesday in pressing Congress' special debt reduction committee to consider all options, including higher revenues, and shoot for $4 trillion in savings.

TECHNOLOGY

Yahoo Hopes to Reach Readers With iPad Magazine

SUNNYVALE, Calif. (AP) – Yahoo is joining the computer tablet bandwagon with a digital magazine designed for the iPad.

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Blog News, Training & Events
RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 78 307 21,073
MORTGAGES 82 330 24,691
FORECLOSURE NOTICES 66 93 8,703
BUILDING PERMITS 0 837 43,174
BANKRUPTCIES 63 240 14,142
BUSINESS LICENSES 17 75 6,476
UTILITY CONNECTIONS 25 139 13,650
MARRIAGE LICENSES 10 77 5,146

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