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VOL. 127 | NO. 25 | Tuesday, February 7, 2012

Companies Sue County Over Minority Contracts

Giving minority contractors a bigger share of the pie in doing business with local government is a hot topic at the moment.

In the Bag

Independent grocers survive Kroger, Walmart landscape

Last September Kroger Co. purchased nine Memphis-area Schnucks grocery stores.

Grays Creek Annexation on City’s Agenda

Memphis City Council members take up the first of three readings Tuesday, Feb. 7, of an ordinance to annex the Grays Creek area that is in the city’s annexation reserve area.

County Commission Floats - Sinks Schools Transfer Rules

A resolution that would involve Shelby County government along with the countywide school board in any transfer of school buildings to another school district surfaced Monday, Feb. 6, after a weekend of behind the scenes talks.

Smith & Nephew to Pay $22.2M in Government Settlement

British medical device maker Smith & Nephew – whose Orthopaedic business employs about 2,000 workers in Memphis – announced Monday it had reached a $22.2 million settlement agreement with the Justice Department and the U.S. Securities and Exchange Commission surrounding criminal and civil allegations the company bribed Greek government doctors to secure business.

Local Weather
Currently
Memphis, TN
90.0°F
A Few Clouds
Wind: Variable at 5.8 mph
Humidity: 54%

EVENTS

Rhodes College will present a lecture by Harvard Law professor Robert Mnookin titled “Bargaining with the Devil” Tuesday, Feb. 7, at 5 p.m. in Blount Auditorium of Buckman Hall on the Rhodes campus. The talk is free and open to the public.

more events »

Petties Trial Jury Selection Underway

Jury selection in the trial of two men accused of being hit men for a powerful Memphis-based drug organization began Monday, Feb. 6, with a long line of jurors seeking to be disqualified from jury duty for emergency reasons.

AREA Property Partners Buys Warehouse Portfolio for $23.6M

AREA Property Partners affiliates have bought four Class A warehouses totaling about 835,000 square feet from Kansas City Life Insurance Co. for $23.6 million.

LeMoyne-Owen Events Highlight Black History

LeMoyne-Owen College President Johnnie B. Watson grew up in a housing project across the street from the historically black liberal arts college he now leads at 807 Walker Ave. in South Memphis.

Memphis Company Inks Major Miami Lease

Memphis-based commercial real estate firm SMPO Properties Inc. has executed a lease with The Miami Herald Media Co. for the former U.S. Southern Command Headquarters building in Doral, Fla.

Neil’s to Relocate to East Memphis

Neil’s Bar is moving to East Memphis, across town from its Midtown home of nearly 20 years that was destroyed in a fire last year.

Parker, Duncan Lead Spurs Past Grizzlies 89-84

MEMPHIS (AP)Tony Parker appreciates San Antonio coach Gregg Popovich's conservation plan.

Haslam: Patronage Threat Doesn’t Match Realities

Political patronage is not the threat to state employees that it once was because state government is bigger and has a broader scope of services, Tennessee Gov. Bill Haslam says.

GOVERNMENT AGENDA

Memphis City Council Agenda

The Memphis City Council will meet Tuesday, Feb. 7, at 3:30 p.m. in the Council chambers in City Hall, 125 N. Main St.

REAL ESTATE RECAP

Multipurpose Bldg. Planned for Soulsville Charter School

1115 College St., Memphis, TN 38106, Permit Cost: $4 million -
The Soulsville Foundation has filed a $4 million building permit application with the city-county Office of Construction Code Enforcement for a 15,000-square-foot, one-story, multipurpose building at The Soulsville Charter School.

LOCAL COLUMNISTS

Put Your Legacy Into Words

Last week we spotlighted BRIDGES, an organization helping to build a community of leaders to advance racial, economic, educational, and environmental justice. This week, as we reflect on a recent visit from LPBC guest speaker Dr. Joseph Michelli, let us share some of his sage advice, which could redefine priorities and ignite our effect on future generations: a legacy statement.

STATE GOVERNMENT

Bills to Change Pension Plans Stall in Legislature

NASHVILLE (AP) – Proposals to change the retirement system for public employees in Tennessee have stalled in the Legislature.

Haslam Seeks Merger of 6 Environmental Panels

NASHVILLE (AP) – Gov. Bill Haslam's first effort to reduce state boards will merge six panels with significant environmental duties into three, affecting one with regulatory power over gas stations, including the family's Pilot Travel Centers.

NATIONAL BUSINESS

JP Morgan to Pay $110M to Settle Overdraft Lawsuit

MIAMI (AP) JP Morgan Chase & Co. has agreed to pay $110 million to settle a class-action lawsuit claiming the bank charged excessive checking overdraft fees.

Fidelity Nat'l to Buy O'Charley's Restaurant Chain

JACKSONVILLE, Fla. (AP) – A title insurance and mortgage services company that already owns a stake in the Bakers Square restaurant chain is buying the restaurant operator O'Charley's Inc., the companies announced Monday.

NATIONAL GOVERNMENT

Defense Cuts Test Lawmakers' Resolve on Deficits

WASHINGTON (AP) – President Barack Obama's call to shrink the military, shut bases and cancel weapons to meet the demand for budget cuts tests the resolve of lawmakers who came to Washington determined to slash the deficit.

Tax Reform in This Election year: It's Not Likely

WASHINGTON (AP) – Tax reform sounds like a good idea to lots of people, but where to start? Eliminate the popular deduction for home mortgages? End the write-off for charitable contributions? How about expanding the Social Security payroll tax?

TECHNOLOGY

Verizon to Set Up Streaming Service With Redbox

NEW YORK (AP) – Phone company Verizon Communications Inc. will challenge Netflix and start a video streaming service this year with Redbox and its DVD rental kiosks.

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Blog News, Training & Events
RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 89 312 16,192
MORTGAGES 86 293 18,685
FORECLOSURE NOTICES 0 0 0
BUILDING PERMITS 332 655 33,126
BANKRUPTCIES 50 237 10,737
BUSINESS LICENSES 26 112 5,198
UTILITY CONNECTIONS 0 127 11,344
MARRIAGE LICENSES 19 94 3,867

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The Memphis News: Business, politics, and the public interest.