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VOL. 126 | NO. 247 | Tuesday, December 20, 2011

Pinnacle Faces Falling Stock, Furloughs

New York-based investment firm Maxim Group LLC initiated coverage of the stock of Memphis-based Pinnacle Airlines Corp. on Monday with a “sell” rating, and in a note to clients said the company has a “high probability” of ending up in bankruptcy.

Pick of the Litter

Unused spaces turned into dog park, art space

The Downtown Memphis Commission and its staff are bringing an interior designer’s eye for reusability and for the possibilities that abound in vacant spaces to two new Downtown sites.

Overton Square Votes Dominate Meeting

The Memphis City Council votes Tuesday, Dec. 20, on the redevelopment of Overton Square. At its last meeting of the year, the council will vote on a planned development for the south side of Madison Avenue at Cooper Street to be redeveloped by Loeb Properties Inc. The development includes a parking garage.

Vintage Homes Helps Buyers Build Credit

Vintage Homes LLC created its Home Buyers Connection program two years ago, and the company is forecasting 2012 to be its most successful year yet.

Obama Nominates Fowlkes for Vacancy

The White House nomination of Criminal Court Judge John Fowlkes to be a U.S. District Court judge would return Fowlkes to the building where he once worked as a federal prosecutor.

Local Weather
Memphis, TN
Mostly Cloudy
Wind: West at 6.9 mph
Humidity: 74%


The Better Business Bureau of the Mid-South will continue its breakfast series with its Holiday Open House & Networking Party Tuesday, Dec. 20, from 7:30 a.m. to 9 a.m. at the BBB, 3693 Tyndale Drive. The party will include breakfast and informal networking. For reservations, contact Susan Harris at 757-8617 or sharris@bbbmidsouth.org.

more events »

Memphians Sue Delta for ‘Anti-Muslim Bigotry’

An Arabic-language professor at the University of Memphis and a Memphis-area Islamic religious leader have filed a lawsuit against Delta Air Lines Inc. and a partner airline over being kicked off a flight departing Memphis earlier this year.

Review of International Paper Acquisition Extended

MEMPHIS (AP) International Paper Co. said Monday, Dec. 19, that it reached a deal with the U.S. Department of Justice to extend the regulatory review period for its pending $3.7 billion acquisition of smaller rival Temple-Inland Inc. until Jan. 27.

Fallen Police Memorial to be ‘Lasting Tribute’

Men and women in blue were joined by friends, family and supporters at the Oak Court Mall, 4465 Poplar Ave., Friday, Dec. 16, for the unveiling of the mockup of a Fallen Officer Memorial that will honor the Memphis Police Department officers who have given their lives in the line of duty.


Memphis City Council Agenda

The Memphis City Council will meet Tuesday, Dec. 20, 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.


Stonebridge Apartments Sells for $22 Million

9135 U.S. 64 and 9225 U.S. 64 , Memphis, TN 38016 -
A joint venture between Merion Realty Partners and an affiliate of AllianceBernstein U.S. Real Estate Partners LP has bought Stonebridge Apartments from CMS Stonebridge LLC for $21.9 million as part of a 20-property multifamily portfolio purchase the companies announced in October.


Honor The Fallen MPD ‘Blue’

Last week we discussed how building your sphere of influence is intertwined with community engagement. This week let us refocus on our May 16 column (“A Monument to Fallen Officers”) and provide some personal insight into the progression and recent public unveiling of the Memphis Police Department Fallen Officer Memorial.

Golden Oldies Drown Out Euro Pop

The pendulum swings regarding Europe’s fate continue to relentlessly influence daily market direction. With the European debate drowning out all other market news, relevant economic releases and corporate earnings results have gone unheard. This week, let’s turn off the European pop and listen to some golden oldies.


US Online Holiday Shopping Climbs 15 Pct to $30.9B

U.S. shoppers spent 15 percent more in online holiday buying compared to last year, after what may have been the busiest week of the season, said research firm comScore on Sunday.

Saab Declares Bankruptcy as GM Blocks Chinese Deal

STOCKHOLM (AP) – After six decades of building cars renowned for their teardrop designs and quirky features, cash-strapped Saab Automobile gave up its desperate struggle for a lifeline Monday and filed for bankruptcy.

Groupon Acts Locally With $10 Credit Offer

NEW YORK (AP) – Groupon is thinking locally. The online deals site is offering a $10 credit to the first 150,000 people who purchase a local Groupon by Dec. 24.


Court Schedules Health Care Arguments

WASHINGTON (AP) – The Supreme Court announced Monday, Dec. 19, that it will use an unprecedented week’s worth of argument time in late March to decide the constitutionality of President Barack Obama’s historic health care overhaul before the 2012 presidential elections.

House, Senate at Odds Over Payroll Tax Cut

WASHINGTON (AP) – The House and Senate barreled toward a collision Monday over some of the chief ingredients of President Barack Obama's recipe for reviving the economy, with tax increases and jobless benefit cuts awaiting millions of Americans on New Year's Day if the dispute is not resolved.


US Homebuilders Less Gloomy Despite Few Buyers

WASHINGTON (AP) – Rising interest from would-be buyers is leaving U.S. homebuilders less pessimistic about the housing market. But tighter lending standards are still keeping many potential buyers from purchasing new homes.


Titans Lose 27-13 to Previously Winless Colts

INDIANAPOLIS (AP) – Of all the losses they've had to the Indianapolis Colts, this had to be one of the toughest for the Tennessee Titans.

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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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