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VOL. 125 | NO. 244 | Thursday, December 16, 2010

Profit Down, Revenue Up at FedEx

FedEx Corp., the world’s second-largest package delivery company, said its profit fell 18 percent during the Memphis-based shipper’s fiscal second quarter.

Jobs Jackpot

Electrolux to invest $190M in Memphis oven plant

With a mock kitchen as a backdrop, Tenn. Gov. Phil Bredesen led state and local civic and elected figures in announcing that Electrolux, a Swedish manufacturer of appliances, will build a $190 million manufacturing plant in Memphis.

Evans Denies CVS, Church Injunction

Chancellor Walter Evans denied a motion Thursday that would have stopped work on Union Avenue United Methodist Church as the site of a new CVS drug store.

Pinnacle Signs Lease at One Commerce

Pinnacle Airlines Corp. has signed a long-term lease at One Commerce Square, the Downtown tower where Pinnacle is relocating its corporate headquarters and several hundred employees.

Monthly Building Dips, But 2010 Numbers Up

While the holidays typically slow down the pace of building new homes, November’s permits took a bigger hit than usual as the industry continues to work through the recession.

Local Weather
Memphis, TN
A Few Clouds
Wind: Calm mph
Humidity: 71%


The Alliance for Nonprofit Excellence will hold a workshop Thursday from 8 a.m. to 9 a.m. at its office, 5100 Poplar Ave., suite 502. Tal Frankfurt, founder of Cloud for Good, will speak on the topic “How to Budget for IT and Develop an RFP for Services.” Cost is $15 for members, $30 for nonmembers and $10 for those in the Program for Nonprofit Excellence. For more information, call 684-6605 or visit www.npexcellence.org.

more events »

IDB Approves Dalphis Move To Airport Area

The Memphis-Shelby County Industrial Development Board (IDB) has approved a three-year, $2.4 million PILOT (payment in lieu of taxes) for a Memphis window coverings company to move from the Sycamore View-Interstate 40 area to the Airport Industrial Park area.

MIFA Seeks Replacement for Craddock

A search is under way for a new top executive to lead the Memphis Inter-Faith Association.

Business Owners, Politicos Meet at NAWBO Dinner

At the end of a busy political year, the annual dinner of the local chapter of National Association of Women Business Owners included several kinds of survivors.

Weirich Preps for Role as County’s Top Prosecutor

Amy Weirich wasted no time and used few words the day her appointment as District Attorney General was announced.

Hill’s Law Practice Transformed by Social Media

As a student at the University of Memphis’ Cecil C. Humphreys School of Law in the mid-1970s, Charlie Hill never suspected the word “tweet” would become part of his lexicon.

Online Banking Can Breed Laziness

Ray’s Take: Online banking has definitely reduced the tedium of managing daily finances. It eliminates that self-perpetuating stack of bills sprawling across the desk like Jabba the Hutt.

The Not So Purr-fect Workplace Solution

Suppose you decide that you want a pet. You know exactly what you want. You want your pet to bark, wag its tail, get excited when it sees you, and fetch sticks when you throw them across the yard.


Fitzhugh Elected to Lead House Democrats

NASHVILLE (AP) – House Democrats have made a change in leadership after losing 14 seats in November's elections.


State Funding Board to Hear Debt Policy

NASHVILLE (AP) — State Comptroller Justin P. Wilson will recommend Wednesday that the State Funding Board adopt a model debt management policy for governmental entities throughout Tennessee.

Exiting Tenn Congressman Wamp May be Headed for TV

CHATTANOOGA (AP) – Exiting Republican Congressman Zach Wamp took a verbal jab at "divisive" round-the-clock television news and said he is talking to TV executives about possibly moderating a new national political show.

Study Finds Tenn. Students Closing Achievement Gap

NASHVILLE (AP) – A new study from the Center for Education Policy found Tennessee students are doing better than most when it comes to closing achievement gaps.


Homebuilders Pessimistic About Housing Market

LOS ANGELES (AP) – Builders are feeling pessimistic over the housing market's prospects in the near future.

Mortgage Applications Slide Last Week

NEW YORK (AP) – Applications for mortgages fell last week as higher mortgage rates chased borrowers away.


Sweden's Electrolux to Cut 2,100 Jobs

STOCKHOLM (AP) – Swedish appliance maker Electrolux AB says it plans to cut 2,100 jobs in Europe and Canada in the next three years as it continues to trim its costs.

Nov. Shopping Surge Spurs Higher Holiday Outlook

NEW YORK (AP) – A research firm is raising its holiday spending forecast for the second time in a matter of weeks as more data shows a bigger-than-expected surge in buying in November. That early surge is likely to offset a disappointing start to December.

Health Group Sues McDonald's Over Happy Meal Toys

PORTLAND, Ore. (AP) – A California mother and The Center for Science in the Public Interest have sued McDonald's Corp. trying to get the fast-food chain to stop using toys to market meals to young children.

US Factory Output Increases for 5th Straight Month

WASHINGTON (AP) – U.S. factory output grew for the fifth straight month in November, adding to evidence that manufacturing remains an engine of economic growth.

Coca-Cola Will Buy Back $1.05B of its Own Debt

ATLANTA (AP)The Coca-Cola Co. said on Wednesday that its offer to buy back up to $1.6 billion in debt expired on Tuesday after investors offered to sell back $1.05 billion in notes.


Senate Passes Package Extending Bush Tax Cuts

WASHINGTON (AP) – The Senate has passed a sweeping tax package that would save millions of Americans thousands of dollars in higher taxes for the next two years while also reducing their Social Security taxes and extending jobless benefits.

Obama Says He Shares Mission With Business Leaders

WASHINGTON (AP) – President Barack Obama, trying to boost anemic job creation and improve testy relations with the corporate community, said Wednesday he wants ideas from business leaders on how to “seize the promise of this moment.”

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PROPERTY SALES 119 482 10,051
MORTGAGES 119 497 11,811
BUILDING PERMITS 268 1,056 21,366
BANKRUPTCIES 50 263 6,700

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