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VOL. 126 | NO. 54 | Friday, March 18, 2011

City and Council Challenge Norris-Todd Schools Law In Court

The city of Memphis and Memphis City Council have now acted in court to join the legal battle over schools consolidation.

Optimistic Outlook

FedEx reports $9.6B quarterly revenue, forecasts more growth

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.

Accredo Named Sole U.S. Provider of Carbaglu

Memphis-based Accredo Health Group, a provider of specialty pharmaceuticals, has been selected by pharmaceutical company Orphan Europe to serve as the sole U.S. provider of Carbaglu, the first FDA-approved product to treat hyperammonemia resulting from a rare inherited metabolic disorder.

Davis-Kidd Going Up for Sale

A group of creditors thinks the parent company of Davis-Kidd Booksellers in Memphis chose the wrong path in bankruptcy court.

WPG Americas Signs Lease in Southaven

A San Jose, Calif.-based worldwide electronics distributor is entering the Memphis area with full force.

Local Weather
Memphis, TN
Wind: Southwest at 3.5 mph
Humidity: 79%


The Memphis Lawyers’ Chapter and University of Memphis Law Student Chapter of the Federalist Society will present a panel discussion on attorney general selection in Tennessee Friday from 11:30 a.m. to 12:45 p.m. in Wade Auditorium at the Cecil C. Humphreys School of Law, 1 N. Front St. Panelists will include state Sen. Mark Norris and attorneys W.J. Michael Cody and J. Ammon Smartt. U of M Law School Dean Kevin H. Smith will moderate. The event is free and open to the public and worth one continuing legal education credit. To register, contact Greg Grisham at 312-9413 or greg.grisham@leitnerfirm.com.

more events »

Homebuilding Points to Improvement

Shelby County builders filed 70 permits last month – a 16.7 percent increase from 60 permits in February 2010 – a sign that the market may be able to salvage a decent first quarter.

Schools Referendum Certification Set for March 28

The Shelby County Election Commission certified election results this week.

Airport Approves Contracts, Traffic Declines

The Memphis-Shelby County Airport Authority board has approved a contract with Faith Group LLC to develop an information technology master plan.

Interactive Solutions Inc. Celebrates 15 Years

Jay Myers, the founder and CEO of video conferencing company Interactive Solutions Inc., once got a call out of the blue from a Memphis business legend.

Election Commission to Purge Voting Rolls

Determining the true level of voter participation in Shelby County is like trying to come up with a single reason for low voter turnout: It’s complicated.

First South CEO Esrael Assumes BACC Chairmanship

Craig Esrael has been the president and CEO of First South Financial Credit Union for 28 years.

Paradise Found

A bright blue night. Just about any weekend anybody in the Gant button-down crowd could catch a concert at the Coliseum or Ellis Auditorium, crash a party at Clearpool, or hear a great band in a gym somewhere in Weejun town. This was Memphis in the early ‘60s. You could see Elvis at a stoplight, Jerry Lee in a restaurant, and listen to Wooly Bully on the radio waiting in line for auto inspection right in front of Sam the Sham’s club.

Time for a Call to Action

Part two of a two-part series


2010 Census Finds Tenn. Becoming More Diverse

NASHVILLE (AP) – Tennessee is becoming more diverse.


Measure to Protect Employers Allowing Guns

NASHVILLE (AP) – A measure that protects employers who allow guns to be carried in their workplace from frivolous complaints is headed to the governor for his consideration.

Senators Announce Bill for Education Task Force

NASHVILLE (AP) – U.S. Sens. Lamar Alexander of Tennessee and Michael Bennet of Colorado plan to introduce a bill to establish a national task force to examine regulations and testing governing public schools.

Teachers' Bargaining Bill Advances in House

NASHVILLE (AP) – The lobbyist for the Tennessee Education Association said Wednesday he's not completely satisfied with a proposal that would restrict the collective bargaining rights of Tennessee teachers, but is grateful they still have an opportunity to bargain.

House Passes Bill to Protect Tenn. Cow Owners

NASHVILLE (AP) – The House has passed a proposal that would give Tennessee cow owners immunity from lawsuits for so-called "bovine activities."


Average Rate on 15-Year Mortgage Dips Below 4 Pct.

NEW YORK (AP) – Fixed mortgage rates tumbled this week and the 15-year loan dipped below 4 percent for the first time in three months. Rates followed the yield on U.S. Treasury bonds, which fell on worries that the crisis in Japan could slow economic growth.


Strong Economic Data Point to More Hiring

WASHINGTON (AP) – Factories are producing more cars, computers and household appliances, and applications for unemployment benefits over the past four weeks are at the lowest point since summer 2008.

Consumer Prices Rise 0.5 Pct., Most Since June '09

WASHINGTON (AP) – Americans paid more for food and gas in February, driving up consumer prices at the fastest pace in nearly two years.

Fewer Americans Apply for Unemployment Benefits

WASHINGTON (AP) – Fewer Americans applied for unemployment benefits last week, providing support for the view that there will be stronger job growth this year.

Leading Indicators Rise 0.8 Percent in February

NEW YORK (AP) – A private research group's measure of future economic activity rose 0.8 percent in February, as the job market showed improvement and consumers were more optimistic.

US Factory Output Rises for 6th Straight Month

WASHINGTON (AP) – U.S. factories produced more cars, appliances, computers and furniture in February, lifting manufacturing output for the sixth straight month and helping the jobs market heal.


House Votes to Cut Off Federal Funds for NPR

WASHINGTON (AP) – The House on Thursday voted to end federal funding to National Public Radio. Republican supporters said it made good fiscal sense, and Democratic opponents called it an ideological attack that would deprive local stations of access to programs such as "Car Talk" and "All Things Considered."

House Bill Would Kill Abandoned Property Program

WASHINGTON (AP) – Republicans ignored a White House veto threat and pushed a bill through the House on Wednesday halting a federal program that gives state and local governments money to buy and upgrade abandoned buildings.

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PROPERTY SALES 90 140 15,764
MORTGAGES 100 162 18,210
BUILDING PERMITS 194 315 32,829
BANKRUPTCIES 57 116 10,129

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