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VOL. 126 | NO. 53 | Thursday, March 17, 2011

FedEx Reports $9.6B Quarterly Revenue

FedEx Corp. announced Thursday revenue of $9.66 billion for the quarter that ended Feb. 28. The revenue is up from $8.7 billion the previous year.

Strategic Move

SunTrust’s new Uptown branch bolsters growth plan

Johnny Moore, the president and CEO of SunTrust Banks’ Memphis division who’s nearing the end of his second year in the role, has been talking for a while about growing the bank’s branch network in the area.

Haslam Pushes Research Consortium Funding During Memphis Visit

Tennessee Gov. Bill Haslam told members of the Memphis Research Consortium that his decision to include $10 million in funding for the effort wasn’t a gift but an investment in the city’s future as a biomedical research center.

Smith & Nephew Sues Former Employees

Smith & Nephew has raced to contain any damage from a scheme the company said it recently interrupted that involved nine former employees who allegedly planned to resign together, start their own company and benefit from company trade secrets.

Election Commission Sets March 28 to Certify Schools Vote

Shelby County Election Commissioners set a special meeting for March 28 to certify the results of the March 8 schools referendum.

Local Weather
Currently
Memphis, TN
60.0°F
Overcast
Wind: Northwest at 8.1 mph
Humidity: 96%

EVENTS

Baker, Donelson, Bearman, Caldwell & Berkowitz PC will present a breakfast seminar titled “Covenants Not To Compete: Managing Restrictions and Expectations,” Thursday from 8 a.m. to 9 p.m. at its office at 165 Madison Ave., 20th floor. For more information or to register, contact Nicolette Thomas at 577-2328 or nthomas@bakerdonelson.com.

more events »

Sustainable Real Estate to be Subject of Conference

Planners of an upcoming conference are hoping to put Memphis on the map even more so than it already is.

Armstrong Rises Fast Through Changed Police Ranks

Toney Armstrong is the youngest director of the Memphis Police Department to come out of the ranks. At 44 years old, Armstrong has been tapped to lead a department whose emphasis on technology and statistics is credited with dropping the city’s crime rate dramatically since 2006.

City Seeks Fast Fairgrounds Development

The $15 million creation of Tiger Lane last year at the Mid-South Fairgrounds happened within budget and so quickly that Memphis Mayor A C Wharton Jr.’s administration would like to use the method to venture into the more complex parts of the renovation of the city-owned property.

Four Petties Codefendants May be Tried in January

Four codefendants in the largest and most violent drug-trafficking case ever brought in Memphis federal court may go to trial in January 2012.

Cosmic Coconut to Add Juicy Fare to Memphis Dining Scene

In a city renowned for pulled pork sandwiches and slow-cooked ribs, opening a vegan juice bar and cafe might seem like an entrepreneurial gamble.

Remsen Equally Comfortable Practicing Law as Writing Blog

By day Adam Remsen serves as assistant general counsel at Financial Institution Consulting Corp., an establishment that works exclusively with financial institutions and is the pre-eminent employee benefit and executive compensation planning firm in its field.

Many Paths to Resolving Disputes

In 1995, I read Christopher Moore’s book, “The Mediation Process – Practical Strategies for Resolving Conflict.”

Memphis Makes Great Vacation Spot

Ray’s Take: It’s time to start planning that family summer vacation and saving up for it. AAA and Money Magazine both estimate the amount spent on a family vacation is about $1,600. With gas prices threatening to reach new highs that amount could easily rise.

MEMPHIS AREA

Celebration to Feature Virtual Elvis Concert

MEMPHIS (AP) – Elvis Week this year will include the traditional candlelight vigil remembering Elvis Presley's death and a concert featuring a virtual image of the rock icon.

STATEWIDE

New Tenn. Driver License Harder to Fake

NASHVILLE (AP) — Tennessee will begin issuing driver licenses with a new design, aimed at making them harder to counterfeit.

TVA Shows Jitters With Reactor Site Tour Postponed

SODDY-DAISY (AP) – The Tennessee Valley Authority is showing more jitters about Japan's nuclear emergency than some residents who live in the same neighborhood as TVA's reactors.

REAL ESTATE

New-Home Construction Plunges in February

WASHINGTON (AP) – Builders broke ground last month on the fewest homes in nearly two years and cut their requests for permits to start new projects to a five-decade low. The decline in construction activity is the latest evidence that the housing industry is years away from a recovery.

NATIONAL BUSINESS

Wholesale Prices Spike on Steep Rise in Food, Oil

WASHINGTON (AP) – Higher energy costs and the steepest rise in food prices in nearly four decades drove wholesale prices up last month by the most in nearly two years. Excluding those categories, inflation was tame.

NATIONAL POLITICS

Republicans Say New Consumer Bureau Too Powerful

WASHINGTON (AP) – House Republicans said Wednesday that a new government agency designed to protect consumers from problems with mortgages, credit cards and other lenders has too much power. They also criticized it for participating in a federal-state effort to force mortgage servicers to change the way they foreclose on troubled homeowners.

Senate GOP Leader Vows Action on Pentagon Budget

WASHINGTON (AP) – The top Republican in the Senate says he's confident that Congress will adopt the Pentagon's budget when a stopgap funding bill runs out in April.

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Blog News, Training & Events
RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 31 327 17,870
MORTGAGES 49 409 20,835
FORECLOSURE NOTICES 0 0 0
BUILDING PERMITS 129 800 36,616
BANKRUPTCIES 51 243 11,925
BUSINESS LICENSES 21 117 5,677
UTILITY CONNECTIONS 41 215 12,248
MARRIAGE LICENSES 29 121 4,478

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