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VOL. 126 | NO. 216 | Friday, November 4, 2011

GTx Posts $9.3M Q3 Loss

Memphis-based GTx Inc. reported Friday, Nov. 4, a $9.3 million loss for the third quarter as the company ramped up research and development on two drugs in clinical development programs.

Community Driven

Market research drives new Downtown dining concept

The long anticipated opening of bleu restaurant & lounge in Downtown’s The Westin Memphis Beale Street was shaped from the ground up, starting with community input.

Capitoline Moves To SE Memphis Center

A Rome, Ga.-based surface components manufacturer is relocating its distribution facility to the Southeast Memphis industrial submarket.

Lightman Entity Buys Sanderlin Centre for $5.3M

An entity composed of Michael A. Lightman Sr. and family members has bought Sanderlin Centre retail property at 5101 Sanderlin Ave. for $5.3 million.

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 with bonuses for flight attendants and severance expenses for top executives.

Local Weather
Currently
Memphis, TN
60.0°F
Overcast
Wind: Northwest at 8.1 mph
Humidity: 96%

EVENTS

The University of Memphis College of Communication and Fine Arts will recognize filmmaker and writer William Bearden with its 2011 Distinguished Achievement Award in Creative and Performing Arts Friday, Nov. 4, at 11:30 a.m. at the Rendezvous, 52 S. Second St. Tickets are $50 per person and $400 for a table of eight. For more information or tickets, call Patty Bladon at 678-4372 or Sara Rose at 678-5086.

more events »

O’Brien’s Lens is ‘Passport to the World’

Michael O’Brien regards his camera as more than just the tool of his profession. O’Brien, a former Memphian who now lives in Austin, Texas, considers it his “passport to the world.”

TDN Seminar to Examine State of Health Care

The health care industry is an economic driver in Memphis, where hospitals, health care providers and biotechnology companies employ one out of every seven workers.

Site Selectors Hear City’s Red Carpet Pitch

A year ago this month, Tennessee Gov. Bill Haslam won the governor’s race and suddenly found himself in the same room with 26 other newly elected governors.

Carriers Enhance Motor Coach Service

As Greyhound prepares to move from its longtime Downtown bus station to the airport area this month, another change under way in the Memphis motor coach market reflects broader changes in the business nationally.

Clarion’s Heathcott Says Respect has Led to Success

Larry Heathcott, president of Clarion Security LLC, started his business venture in Memphis in 2009 with three accounts. It rapidly ballooned to more than 20 accounts in three states.

LOCAL COLUMNISTS

Say What You Mean

THE IZING OF AMERICA. He stood on a board above a pool in 1936 and on a hill above Paul Newman in 1967, and both times, he nailed it.

Financial Health for Nonprofits – Part 4

Part four of a four-part series. Writing a funding proposal can be difficult. Creating the budget associated with a proposal can be more than some can handle. That’s where people like Carol Cantwell of Fun with Financials comes in. For this column we asked Cantwell what guidance she has to offer regarding budgeting and their financials, and how these tie to (and often impact) fundraising in general. Here is what she shared with us.

STATEWIDE

3 State Agencies Offer Budget Proposals

MEMPHIS (AP) – The heads of three state agencies on Wednesday began giving Gov. Bill Haslam their proposals for how they would cut 5 percent from their spending plans in next year's budget.

NATIONAL BUSINESS

Economy Picks Up but Hiring Outlook Stays Cloudy

WASHINGTON (AP) – Companies are more productive, fewer people are seeking unemployment benefits and service companies are adding jobs.

Retailers Report Solid Sales Gains in October

NEW YORK (AP) – Americans were shopping in October, but they were spending at a slower clip than expected as they faced a barrage of bad economic news.

Thanksgiving Air Travel Forecast: Full Flights

WASHINGTON (AP) – Passengers may have to compete with slightly fewer people getting to the airport this Thanksgiving, but flights will be as full as ever, airline industry officials said Thursday.

Factory Orders Rose 0.3 Percent in September

WASHINGTON (AP) – Companies increased overall orders to U.S. factories slightly in September but demand in a key category that tracks business investment plans jumped by the largest amount in six months.

US Airways, Delta Hike Fares by Up to $10 Per Round Trip

DALLAS (AP) – US Airways and Delta Air Lines Inc. are raising fares on many U.S. flights by up to $10 per round trip, and other airlines are tinkering with prices too.

Poorest Poor in US Hits New Record: 1 in 15 People

WASHINGTON (AP) – The ranks of America's poorest poor have climbed to a record high – 1 in 15 people – spread widely across metropolitan areas as the housing bust pushed many inner-city poor into suburbs and other outlying places and shriveled jobs and income.

NATIONAL POLITICS

Senate GOP Blocks $60B Obama Infrastructure Plan

WASHINGTON (AP) – Republicans in the Senate have killed legislation sponsored by President Barack Obama to spend $60 billion on building and repairing roads, rail lines and other infrastructure to help kick-start the sluggish economy.

In European Crisis, Obama Sees Risks Back Home

CANNES, France (AP) – His political fortunes and his nation's economy at risk, President Barack Obama on Thursday implored European leaders to swiftly work out a eurozone rescue plan, aware of the potential fallout at home if they fail.

REAL ESTATE

Freddie Mac Reports Q3 Loss, Asks for $6B in Aid

WASHINGTON (AP) – Government-controlled mortgage giant Freddie Mac has requested $6 billion in additional aid after posting a wider loss in the third quarter.

Average Rate on 30-Year Mortgage Falls to 4 Pct.

WASHINGTON (AP) – The average rate on the 30-year fixed mortgage fell to 4 percent this week, nearly matching the all-time low hit just one month ago.

HEALTH CARE

CVS Caremark Q3 Profit Rises 7 Percent

WOONSOCKET, R.I. (AP)CVS Caremark Corp.'s third-quarter earnings climbed 7 percent, as a long-term contract and acquisition boosted the pharmacy network claims it processed.

TECHNOLOGY

Twitter Changes Business of Celebrity Endorsements

NEW YORK (AP) – Rapper Snoop Dogg gave props on Twitter to an ad for the Toyota Sienna minivan. Actress Tori Spelling linked to a website for rental cars. And reality TV star Khloe Kardashian soliloquized about the brand of jeans that accentuates the famous Kardashian derriere.

Amazon Introduces Lending Library for Kindles

NEW YORK (AP) Amazon.com Inc. said Thursday that it is starting a lending library for Kindle owners, letting them borrow one electronic book per month.

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Blog News, Training & Events
RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 31 327 17,870
MORTGAGES 49 409 20,835
FORECLOSURE NOTICES 0 0 0
BUILDING PERMITS 129 800 36,616
BANKRUPTCIES 51 243 11,925
BUSINESS LICENSES 21 117 5,677
UTILITY CONNECTIONS 41 215 12,248
MARRIAGE LICENSES 29 121 4,478

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