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VOL. 127 | NO. 21 | Wednesday, February 1, 2012

Wharton Q&A Hits on Top Priorities

Memphis Mayor A C Wharton Jr. gave representatives of the city’s business community a glimpse into his mind Tuesday, Jan. 31, as well as some background on his priorities within the context of his 100-day plan for the city.

State Spending

West Tenn. education in Haslam’s budget highlights

Tennessee Gov. Bill Haslam wasn’t ready to say the state has recovered from the recession. But his $31 billion budget proposal outlined in the Monday, Jan. 30, State of the State address included a robust building program mixed with state pay raises and plans to cut more than 1,000 state jobs.

Fed Sends Notice to Bank of Bartlett

The Federal Reserve has sent Bank of Bartlett a notice of “Prompt Corrective Action” that suggests the bank is undercapitalized and requires the bank to raise capital within 90 days.

Grizzlies Get Back to Old Selves

One night earlier, their coach had rightly accused them of “not working.” So it was only fitting that on this night the Grizzlies had to literally work overtime to stop a four-game losing streak and find their misplaced pride.

AMR to Meet With Employees, Reports $904M Loss in Dec.

DALLAS (AP) – Executives from American Airlines' parent company were scheduled to meet with employees Wednesday in Fort Worth, Texas, to detail concessions that they want from unions under a reorganization plan. Unions expected the company to propose job cuts and either freeze or end American's pension plans.

Local Weather
Currently
Memphis, TN
82.0°F
A Few Clouds
Wind: South at 5.8 mph
Humidity: 88%

EVENTS

The Bartlett Area Chamber of Commerce will hold a free business education workshop Wednesday, Feb. 1, at 2969 Elmore Park Road. Marlin McKelvy, president of Consumer Direct Benefit Solutions, will speak on “The Rise of Public and Private Health Insurance Exchanges and What This Means for Employers and Health Care Customers.” To R.S.V.P., call 372-9457 or info@bartlettchamber.org.

more events »

Social Media for Regulated Industries to be Discussed

Social media may not be the first communication platform that comes to mind for those working in highly regulated industries, but it boils down to another means of getting a message across.

Annexation Returns to Forefront in Schools Discussion

It keeps coming back to the issue of turf between the city of Memphis and the six suburban municipalities.

AP: Lisa Marie Presley Talks About New Exhibit

MEMPHIS (AP) – There's a glass case in a room on Graceland's first floor that holds a small white fur coat, a photo album of Elvis Presley's family and a blue record player used by his daughter, Lisa Marie.

MED Foundation Announces Gala Lineup

The MED Foundation has announced the lineup for its upcoming gala, “Med Night, A Soul Celebration – Soul Food, Soulful Sounds and The Soul Train Scramble Board.”

Wright Medical Hires New SVP

Less than a month after Wright Medical Group Inc.’s former Senior Vice President Frank Bono filed a complaint in Shelby County Chancery Court against his former employer, the Arlington-based orthopedic medical device company has named Daniel Garen its new senior vice president and chief compliance officer.

GTx Shares Rise 50 Pct. After Positive Citigroup Report

Shares of GTx Inc. rose about 50 percent Monday, Jan. 30, after Citigroup predicted the Memphis-based pharmaceutical company was likely about a year away from reporting positive results from its Phase III clinical trials for Ostarine, a drug designed to prevent and treat muscle wasting in cancer patients.

MyMathLab Shows Success at U of M

Math professors at the University of Memphis are claiming some success in using math lab computer software to close achievement gaps among students.

MEMPHIS NEWSMAKERS

Edwards Joins Barnett Group as Director of Client Tech

Jonathan Edwards has joined The Barnett Group as director of client technology. Edwards will work with clients and prospects to analyze their medical claims and plan options to find the best fit for them.

LOCAL COLUMNISTS

Super Bowl Ad Sneak Preview and Spoilers

When you’re spending $3.5 million on a 30-second TV spot, maximizing buzz is the name of the game. That’s why one of the overarching themes with this year’s bevy of Super Bowl ads is pre-game promotion as well as the introduction of more social media integrated campaigns. Savvy marketers are taking a more holistic approach.

NATIONAL BUSINESS

January Consumer Confidence Falls on Economic Fears

NEW YORK (AP) – It looks like Americans are starting to doubt that the economy in 2012 will be that much better than it was last year.

College Endowments Show Growth for FY 2011

NEW YORK (AP) – College and university endowments made gains in the fiscal year that ended in June, but many are still struggling to make up ground they lost in 2008 and 2009, according to a report released Tuesday.

Refinery Operator Valero Energy Posts Q4 Profit

SAN ANTONIO, Texas (AP)Valero Energy Corp. said Tuesday that it earned a profit in the fourth quarter as new refineries helped boost revenue beyond expectations.

NATIONAL GOVERNMENT

Federal Budget Deficit to Dip to $1.1T, CBO Says

WASHINGTON (AP) – The government will run a $1.1 trillion deficit in the fiscal year that ends in September, a slight dip from last year but still very high by any measure, according to a budget report released Tuesday.

Obama Wants Small-Business Bill This Year

WASHINGTON (AP) – Seeking cooperation in a polarized climate, President Barack Obama called on Congress Tuesday to act quickly on bipartisan measures that would extend tax breaks for small businesses and help startup companies raise money. He said he would sign the legislation "right away."

Lawmakers Reach Agreement on $63 Billion FAA Bill

WASHINGTON (AP) – Lawmakers say they've reached an agreement on a $63 billion, four-year bill to extend the Federal Aviation Administration's operating authority and the agency's air traffic modernization effort.

REAL ESTATE

Home Prices Dropped in November in Most US Cities

WASHINGTON (AP) – U.S. home prices fell for a third straight month in nearly all cities tracked by a major index. The declines show that most homeowners are not reaping the benefits from some signs of an improving housing market.

TECHNOLOGY

Twitter CEO Says Blocking Policy Over-Distilled

DANA POINT, Calif. (AP) – Twitter CEO Dick Costolo sought to calm the global outrage over the company's new country-by-country censorship policy, complaining in part that the issue is being treated with the same kind of shorthand that has made Twitter popular.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 119 482 10,051
MORTGAGES 119 497 11,811
FORECLOSURE NOTICES 29 82 1,716
BUILDING PERMITS 268 1,056 21,366
BANKRUPTCIES 50 263 6,700
BUSINESS LICENSES 28 151 3,584
UTILITY CONNECTIONS 33 172 4,155
MARRIAGE LICENSES 20 111 2,290

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