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VOL. 125 | NO. 242 | Tuesday, December 14, 2010

Electrolux to Open Memphis Plant

Electrolux, a Swedish home appliance manufacturer, will open a Memphis manufacturing plant that will employ 1,300 people initially.

Seeking Stability

CRE market strives for recovery after brutal slump

The commercial real estate market is poised for a comeback in 2011, as investment sales show signs of recovery and occupancy slowly improves to meet supply.

Memphis Motorsports Park Sells for $1.9M

After being vacant for more than a year, Memphis Motorsports Park sold at a live auction Tuesday morning for slightly less than $1.9 million.

First Horizon to Repay TARP Funds

First Tennessee Bank’s top brass can cross two big items off the company to-do list.

‘Positive Signs’ Abound in Retail Market

Perhaps more than any other commercial real estate sector, the retail market is braced for positive change in 2011.

Local Weather
Currently
Memphis, TN
74.0°F
A Few Clouds
Wind: South at 6.9 mph
Humidity: 91%

EVENTS

The Alliance for Nonprofit Excellence will hold a workshop Tuesday from 8:30 a.m. to noon at its office, 5100 Poplar Ave., suite 502. Ken Kimble, director of development and marketing of Boy Scouts of America, will speak on the topic “Building a Fundraising Board.” Cost is $60 for members, $110 for nonmembers and $55 for those in the Program for Nonprofit Excellence. For more information, call 684-6605 or visit www.npexcellence.org.

more events »

Highwoods Stands Tall Among Competition

As a prominent investment and leasing firm and one of the most active real estate investment trusts in the Memphis market, Highwoods Properties Inc. routinely made commercial real estate headlines in 2010.

Lending Slows to a Crawl

According to commercial lending figures over the past two years, things are not going very well in the industry.

MCS Charter Surrender Vote Still On, So Is Search For Compromise

The Memphis City Schools (MCS) board is scheduled to vote Monday Dec. 20 on a charter surrender resolution.

IDB to Weigh Dalphis Move

The Memphis-Shelby County Industrial Development Board this week will consider a three-year, $2.4 million tax break for Memphis window covering manufacturer Dalphis Holdings LLC.

Memphis Farmers Market Plans $400K Expansion

Farmers usually wait until spring to start digging, but on Saturday the Memphis Farmers Market broke ground on an expansion that will mean more local produce in the coming year.

Gates Foundation Teacher Study Reaches Halfway Point

In the large bowl of alphabet soup that is education reform, it is known as MET.

Magnolia Homes to Build New Style in Winstead Farms

Four Lots In Winstead Farms, Loan Amount: $971,250 -
Magnolia Homes Inc. has financed four lots in Winstead Farms planned mixed-use development in Lakeland through Regions Bank NA for $971,250.

Looking Back, Looking Ahead

Predictions Please Last week I did an interview for Fox Business News on the outlook for 2011. Ironically, I did the same spot a year ago and made predictions for 2010. What surprised me, as I reviewed the old segment, was how similar the conditions for my 2010 and 2011 predictions were. To be fair, for 2010 I motioned toward an S&P 500 year-end number of 1300 (a number the host found ludicrous) and we have fallen short of that. The S&P stands today at 1240, 60 points away. To achieve my 2010 prediction, the S&P would need to rally another 5 percent – possible, though not probable. No matter, we will just parlay that differential into 2011. So what could 2011 provide?

MEMPHIS AREA

FedEx's Busiest Day: The Pre-Game Show for Santa

NEW YORK (AP) – Call it the pregame show for Santa and his elves.

STATEWIDE

Haslam Appoints Ex-Publisher Griscom to Transition Team

NASHVILLE (AP) – Republican Gov.-elect Bill Haslam has named former Chattanooga Times Free Press publisher Tom Griscom to his transition team.

O'Charley's Closing Some 16 Restaurants

NASHVILLE (AP) – O'Charley's Inc. has closed 11 of its namesake restaurants and five of its Ninety Nine restaurants due to underperformance. The restaurant chain expects to incur a fourth-quarter charge of about $5 million related to the closings.

AP Interview: Bredesen Stresses Orderly Transition

NASHVILLE (AP) – Democratic Gov. Phil Bredesen says his administration's work with Republican Gov.-elect Bill Haslam is different from his own experience coming into office eight years ago.

STATE LEGISLATURE

Tenn. Democrats Prepare for Election of New Leaders

NASHVILLE (AP) – Tennessee House Democrats, still recovering from the drubbing they got in the November election, are trying to begin rebuilding by choosing new leadership that could include the state's first African-American as minority leader.

REAL ESTATE

Fewer Homeowners Underwater in the Third Quarter

NEW YORK (AP) – The number of homeowners who owe more than their houses are worth fell for the third straight quarter this summer.

NATIONAL POLITICS

Tax-Cut Plan Eases Pressure on Bernanke and Fed

WASHINGTON (AP) – The Federal Reserve last month absorbed a wave of criticism for announcing it will buy $600 billion in Treasury bonds to try to revitalize the economy. It won't help, critics said.

Gov't to Release 2010 Census Results on Dec 21

WASHINGTON (AP) – The government says it will release official 2010 census results that will be used to redistribute House seats on Dec. 21.

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Blog News, Training & Events
RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 0 140 16,020
MORTGAGES 0 145 18,537
FORECLOSURE NOTICES 0 0 0
BUILDING PERMITS 0 323 32,794
BANKRUPTCIES 0 121 10,621
BUSINESS LICENSES 0 58 5,144
UTILITY CONNECTIONS 0 90 11,307
MARRIAGE LICENSES 0 60 3,833

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