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VOL. 131 | NO. 254 | Thursday, December 22, 2016

Analyst: Rite Aid Buy ‘Good Deal’ for Fred’s

Memphis-based Fred’s Inc. got a “really good deal” on the 865 Rite Aid stores it’s agreed to buy for $950 million in a deal that takes the company beyond its core market and marks a significant new chapter in its story.

New Director Wants to Raise Memphis Botanic Garden’s Profile

The Memphis Botanic Garden long ago ceased being a place to just stop and smell the roses. While a rose garden is one of 28 specialty gardens spanning 96 acres, events and promotions have more recently provided MBG’s identity to the community, especially The Live at the Garden concert series.

Memphis-Area Planned Parenthood Nears $12 Million Fundraising Goal

Bracing for an uncertain future as President-elect Donald Trump prepares to take office, Planned Parenthood of the Greater Memphis Region is taking steps to stay operational in the event of losing its federal funding.

FedEx Earnings Rise But Miss Expectations

Memphis-based FedEx Corp. shares tumbled in trading early Wednesday, Dec. 21, as the delivery giant’s second quarter earnings missed Wall Street expectations.

Last Word: Fred's Post Mortem, Karen Camper on Guns and Pentatonix at Calvary

Who knew Fred’s could become probably the most complex local business story of the year? More post mortem on the $950 million deal announced this week in which the Memphis-based corporation bought 865 Rite Aid stores from Walgreens and Rite-Aid, who are working toward an acquisition and merger deal of their own.

Local Weather
Currently
Memphis, TN
42.0°F
Mostly Cloudy
Wind: Variable at 4.6 mph
Humidity: 55%

EVENTS

Beale Street Tourism Development Authority will meet Thursday, Dec. 22, at 4:30 p.m. in the second-floor conference room of the Memphis Grizzlies office in FedExForum, 191 Beale St. Visit shelbycountytn.gov for an agenda.

more events »

Council Signals Minority Contract Concerns on Airport Bond Issue

Memphis City Council members approved the issuance of $110 million in airport authority revenue bonds at the last council meeting of 2016.

REAL ESTATE RECAP

Developer Buys Former Merle Norman Warehouse

3670 S. Perkins Road -
Merle Norman Cosmetics Inc. has sold its former Memphis distribution center to local real estate developer Thomas Farnsworth Jr. for $1.3 million.

LOCAL COLUMNISTS

Memphis Democrat Karen Camper Learns To Work With Majority

Editor’s note: This is part one of Nashville correspondent Sam Stockard’s feature on Memphis state Rep. Karen Camper. Read part two in the Friday, Dec. 23, edition of The Daily News or online at memphisdailynews.com.

Resolve to Improve Each Day in 2017

New year’s resolutions are tempting to make, and they are even more tempting to forget. In spite of the insatiable appetite our society has for self-improvement and excellence, good habits just seem hard to acquire.

Office Holiday Parties: Naughty or Nice?

If there is any human resources professional who still needs a good argument to present to management in favor of NOT having a holiday party with copious amounts of alcohol, I encourage you to show your decision makers the new film, “Office Christmas Party,” starring Jennifer Aniston and Jason Bateman.

Kafkaesqueness and Such

Paul Greenberg, editorial page editor emeritus of the Arkansas Democrat-Gazette, likes to write about Franz Kafka (1883-1924) and the word coined for his name, Kafkaesque.

STATEWIDE

US Energy Secretary to Attend Tennessee Land Transfer

OAK RIDGE, Tenn. (AP) – U.S. Energy Secretary Ernest Moniz will be on hand for a land transfer deal in Tennessee.

REGIONAL NEWS

Oxford Mayor Says He Won't Be Running for Re-Election

OXFORD, Miss. (AP) – Oxford Mayor Pat Patterson says he will not be running for re-election in 2017.

FINANCIAL

Goldman Ordered to Pay $120M to Settle Manipulation Charges

WASHINGTON (AP) – Goldman Sachs has been ordered to pay $120 million to settle federal regulators' charges that it deliberately manipulated a global benchmark for interest-rate swaps to its advantage.

TECHNOLOGY

Mark Zuckerberg Unveils Morgan Freeman-Voiced AI Assistant

PALO ALTO, Calif. (AP) – Mark Zuckerberg has enlisted the help of Morgan Freeman and taken a shot at Nickelback while unveiling his new artificial intelligence assistant.

REAL ESTATE

Existing US Home Sales Reach Highest Since February 2007

WASHINGTON (AP) – Americans bought homes in November in the fastest pace in nearly a decade. But rising mortgage rates, a deepening shortage of houses and higher prices are likely to weigh on the market next year.

PERSONAL FINANCE

What 2017 May Mean for Your Personal Finances

It's been a tumultuous 2016 – both financially and politically. The year may have left some people wondering, what's next? And, how will it affect me?

Avoid Pitfalls as Retirement Distribution Deadline Nears

The IRS defers taxes on many retirement accounts. But at a certain point, the agency wants to start collecting its due.

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Blog News, Training & Events
RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 86 393 21,159
MORTGAGES 94 424 24,785
FORECLOSURE NOTICES 0 93 8,703
BUILDING PERMITS 173 1,010 43,347
BANKRUPTCIES 52 292 14,194
BUSINESS LICENSES 15 90 6,491
UTILITY CONNECTIONS 28 167 13,678
MARRIAGE LICENSES 12 89 5,158

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