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VOL. 126 | NO. 77 | Wednesday, April 20, 2011

First Horizon’s Mtg. Reflects New Landscape

When Mike Rose, board chairman of First Tennessee Bank’s parent company, opened the floor to questions at the annual meeting of shareholders Tuesday morning, the answer he got was – silence.

New Song

Rebranded Visible Music College prepares for move Downtown

The music and worship arts college formerly known as Visible School officially changed its name to Visible Music College as it prepares to move into its new home at 200 Madison Ave. Downtown later this year.

Wharton Outlines Layoffs, Unpaid Furloughs in City Budget Plan

Memphis Mayor A C Wharton Jr. presented a $687.4 million operating budget to the Memphis City Council Tuesday that includes laying off 125 city employees, a 4.6 percent pay cut for other city employees by taking 12 of their 14 holidays without pay and a $10 million payment to the Memphis City Schools system.

Schools Consolidation Attorneys Mull Mediators

Attorneys for all sides in the schools consolidation lawsuit met among themselves Tuesday on the day they were to have been in court.

Mediation Considered For Schools Consolidation

They don’t appear to have a plan of any kind that they agree on at this point.

Urban Child Institute Study Seeks Local Birth Data

The Memphis-based Urban Child Institute is recruiting the final participants in what will ultimately be an intensive eight-year study focused on the cognitive development of young children in Shelby County.

County Commission Addresses Paid Leave

Shelby County employees can’t get paid leave to go Christmas shopping or in exchange for giving blood or giving to a charity.

Davis-Kidd Hits Auction Block

LEXINGTON, Ky. (AP) – Five remaining stores in the Joseph-Beth Booksellers’ chain are going on the auction block Wednesday.

Humphreys Joins Keller Williams Realty

Herbo Humphreys has joined the Crump Realty Group of Keller Williams Realty. Humphreys previously worked as a project supervisor for Bryan-Turley Properties.

PR: Caterpillar or Butterfly?

George Carlin said it best. “The caterpillar does all the work but the butterfly gets all the publicity.” That’s because the butterfly is simply more newsworthy.

Loyalty Beyond Reason

Kevin Roberts, CEO Worldwide of the ideas company Saatchi & Saatchi, wrote a book in 2005 called “Lovemarks: the future beyond brands.” It’s a story about what happens when consumers experience what Roberts calls “loyalty beyond reason.” He proposes there is an emotional buying response that surpasses how people feel about their favorite brands. Examples of lovemarks are Tide, Crayola, Coca-Cola and Lexus.

Next Stop: The Debt Ceiling Debate

The Great Debate Debased My optimism last week over a sober and measured debate on deficits and budget reform has tarnished. The Republican approach and the Democratic approach have few interlocking parts.

STATEWIDE

HIV Cases up 32 Percent Among Tenn.'s Young People

NASHVILLE (AP) – The number of Tennesseans aged 15 to 24 who were newly diagnosed with HIV jumped by 32 percent between 2005 and 2009, the last year for which statistics are available.

Big Verdict Winners Say It's Not About the Money

NASHVILLE (AP) – A mother who won $1.5 million in court for the death of her only child says the March verdict brought her some closure, but she was too emotional a week later to testify to state lawmakers about why she thinks their idea of limiting jury awards is wrong.

STATE LEGISLATURE

Abortion Resolution Gets Two-Thirds State Senate Votes

NASHVILLE (AP) – A proposal to change the Tennessee Constitution to allow the state to impose stricter limits on abortion has come a step closer to voters after once again being approved by the Senate on Monday.

NATIONAL BUSINESS

Unemployment Falls in Two-Thirds of States

WASHINGTON (AP) – The unemployment rate fell in two-thirds of the nation's states last month, the latest evidence that the strengthening economy is encouraging many employers to boost hiring.

GM CEO Says Discounts Helped Sell More Cars in Q1

NEW YORK (AP) General Motors Co. CEO Dan Akerson said he doesn't regret the company's decision to increase spending on rebates and other deals earlier this year even though it has contributed to the company's tumbling stock price.

McDonald's Hiring Day Draws Crowds, High Hopes

McDonald's Corp. for years has fought back against critics who complain it's making people fat. On Tuesday, it went on the offense against those who assail it as a lousy place to work.

Regions Financial Posts Q1 Profit, Reversing Loss

BIRMINGHAM, Ala. (AP)Regions Financial Corp. on Tuesday reported a surprise profit for the first quarter, reversing a year-ago loss, reflecting a much smaller amount reserved to cover loan defaults and a big drop in loans written off as uncollectible.

NATIONAL POLITICS

Obama Administration Eases Pain of Medicare Cuts

WASHINGTON (AP) – Millions of seniors in popular private insurance plans offered through Medicare will be getting a reprieve from some of the most controversial cuts in President Barack Obama's health care law.

Court Casts Doubt on States' Global Warming Suit

WASHINGTON (AP) – The Supreme Court appeared deeply skeptical Tuesday about allowing states to sue electric utilities to force cuts in greenhouse gas emissions from power plants.

HEALTH CARE

Growth in Prescription Drug Use Continues to Slow

TRENTON, N.J. (AP) – A drug industry study shows spending on prescription drugs in the U.S. grew relatively slowly last year as fewer people started new prescriptions and more prescriptions were filled with cheaper generics.

REAL ESTATE

New-Home Construction Increases 7.2 Pct. in March

WASHINGTON (AP) – Builders broke ground on more new homes last month, giving the weak housing market a slight boost at the start of the spring buying season.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 61 331 19,904
MORTGAGES 80 391 23,305
FORECLOSURE NOTICES 0 83 8,387
BUILDING PERMITS 0 338 40,366
BANKRUPTCIES 35 231 13,335
BUSINESS LICENSES 28 76 6,213
UTILITY CONNECTIONS 0 125 13,120
MARRIAGE LICENSES 21 94 4,936

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