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VOL. 126 | NO. 74 | Friday, April 15, 2011

Court Overturns Ford Corruption Conviction

Former state Sen. John Ford’s federal TennCare fraud and corruption convictions were tossed Thursday morning by the Sixth U.S. Circuit Court of Appeals.

Offbeat Sounds

Record Store Day shines light on independent music sellers

Already there is a German-American Day, a National Trivia Day, and the ever-popular Submarine Day.

Nominees Selected for EDGE Board

Several nominees have emerged for Economic Development Growth Engine, the new economic development board created to guide the city and county’s efforts.

Northeast Submarket Bolstered By Trio of Deals

A handful of industrial deals in recent weeks hit Northeast Memphis in full force, significantly tightening the already solid submarket.

GSK Announces Plans to Sell Memphis Plant

Pharmaceutical giant GlaxoSmithKline Thursday announced plans to sell its manufacturing site at 2149 Harbor Ave. in Memphis, where products made include over-the-counter pain relievers Goody’s and BC Powder.

Local Weather
Currently
Memphis, TN
47.0°F
Fair
Wind: North at 5.8 mph
Humidity: 80%

EVENTS

The Crescent Club Growth Strategies Group will meet Friday from 11:30 a.m. to 1 p.m. at the Crescent Club, 6075 Poplar Ave. Philip Johnson and Tom Merriam, partners at Argyle Benefits Consultants, will speak. Cost is $15 for members and $20 for nonmembers. For reservations, call 684-1010.

more events »

Real Estate Key to Aerotropolis

The term aerotropolis has been a buzzword in recent times but often has a fuzzy meaning.

Stax to the Max Celebrates Memphis’ Music Culture

McLemore Avenue will be “hummin’” again Saturday as Soulsville presents Stax to the Max, a street festival commemorating the 10th anniversary of the Stax Music Academy.

Local Orgs Benefit From Crawfish Craze

Blooming azaleas and vigorous allergies aren’t the only phenomena associated with Memphis springs.

All Sides Meet in Schools Consolidation Lawsuit

The players in the schools consolidation federal lawsuit met Tuesday evening to see if they have anything to talk further about.

Detroit Official Weighs in on Aerotropolis Development

With the passing of a telescope Wednesday on the roof of The Peabody hotel, the 10th annual Airport Cities World Conference & Exhibition ended its three-day run in Memphis.

Bankruptcy Filings See Modest Q1 Decline

At the height of the Great Recession, Memphis bankruptcy attorney Jimmy McElroy of Jimmy McElroy & Associates noticed a trend of older, more established individuals filing for bankruptcy, and he sees no signs of the trend slowing down any time soon.

Wood Honored As Theater’s ‘Superior Volunteer’

Bennett Wood made his acting debut as a second-grader playing George Washington in a historical pageant.

Stepping Up in Times of Change

In part one of this three-part series, we talked about when an organization might need to hire an interim executive director due to unexpected or planned vacancy. In part two, we continue with a discussion of the different roles an interim director can be asked to fulfill.

A Shared Journey

True North. My oldest big brother fell recently. He took a header off the basement steps and landed on his hip. He lives in the Adirondacks, 15 miles from any group of anything larger than four, if you don’t count critters. His wife can’t pick him up, and their two labs, well-trained as they are, can’t fetch an orthopedist.

STATEWIDE

TVA Paring Coal Operations, Paying $10M in Deal

CHATTANOOGA (AP) – The nation's largest public utility is shuttering operations that account for about 16 percent if its coal-fired capacity over five years to settle lawsuits from several states over air quality, its board said Thursday.

Nashville Plans to be 'Greenest' City in Southeast

NASHVILLE (AP) – Nashville Mayor Karl Dean has announced a plan to make Nashville the "greenest" city in the southeast.

STATE LEGISLATURE

GOP Leader Says Dems Reckless on Hospital Fee

NASHVILLE (AP) – Senate Majority Leader Mark Norris is accusing Democrats of gamesmanship for their reluctance to quickly renew a hospital fee designed to avoid millions in TennCare cuts.

Bill to Require Photo ID From Voters Passes House

NASHVILLE (AP) – A proposal that would require Tennessee voters to show photo identification before they can cast ballots passed the House on Thursday despite a legal opinion from the state's attorney general that the Republican-led effort would violate the Tennessee and U.S. constitutions.

Woodson to Leave Tenn. Senate to Head Up Education Group

NASHVILLE (AP) – Republican Sen. Jamie Woodson of Knoxville will step down at the end of the legislative session after being named president and CEO of former U.S. Sen. Bill Frist's State Collaborative on Reforming Education.

NATIONAL BUSINESS

Rising Gas Prices Pushes Wholesale Costs Higher

WASHINGTON (AP) – A spike in the cost of gasoline pushed wholesale prices higher in March, a trend that could limit consumer spending in the coming months.

Best Buy to Shrink Big Boxes, Add Wireless Stores

NEW YORK (AP) – Best Buy plans to open hundreds of smaller mobile stores and expand online and in China in an effort to be more competitive as consumers increasingly shop online.

NATIONAL POLITICS

House Passes Budget-Cutting Plan, Sends to Senate

WASHINGTON (AP) – On a bipartisan vote, the House Thursday passed a yearlong government funding measure cutting $38 billion from the budget and closing out sometimes quarrelsome negotiations between the Obama administration and Republicans dominating the House.

Both Parties Helped Run Up US $14 Trillion Debt

WASHINGTON (AP) – Two centuries after America's birth, the national debt was a bit under $1 trillion when Ronald Reagan took office in 1981. Just three decades later, it has soared above $14 trillion, and accusations of blame are flying. Both Republicans and Democrats played major roles in driving the figure sky high.

Obama: Deficit Push 'Can't Exempt Anyone'

WASHINGTON (AP) – President Barack Obama says the nation's effort to curb ballooning deficits "can't exempt anyone."

REAL ESTATE

Processing Delays Slow Foreclosure Activity in Q1

LOS ANGELES (AP) – Lender processing delays reduced the number of U.S. homes taken back by banks in the first three months of the year and contributed to a sharp drop in properties entering the foreclosure process.

Rate on 30-Year Fixed Mortgage Rises to 4.91 Pct.

NEW YORK (AP) – The rate on the 30-year fixed mortgage rose for the fourth straight week, but still remains below 5 percent.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 73 155 19,728
MORTGAGES 95 170 23,084
FORECLOSURE NOTICES 41 48 8,352
BUILDING PERMITS 200 338 40,366
BANKRUPTCIES 50 122 13,226
BUSINESS LICENSES 14 23 6,160
UTILITY CONNECTIONS 33 85 13,080
MARRIAGE LICENSES 28 58 4,900

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