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VOL. 126 | NO. 101 | Tuesday, May 24, 2011

Mayors Launch Office of Sustainability

When Memphis Mayor A C Wharton Jr. and Shelby County Mayor Mark Luttrell launch their joint office of sustainability this week, it will be the latest move in a continuing realignment of both local governments.

Getting Back to Normal

Mud Island River Park reopens as city continues to recover

When Mud Island River Park reopens to the public Tuesday, May 24, there might not be any water in the park’s scale model of the Mississippi River.

AutoZone Profit, Same Store Sales up in Q3

Memphis-based auto parts retailer AutoZone Inc. surged past analyst expectations and reported 12.1 percent growth in profit for the third quarter compared to the same period last year, the company reported Tuesday morning.

Medtronic Q4 Profit and 2012 Estimate Fall Short

Medtronic said Tuesday its profit dropped 19 percent in the fourth quarter and the device maker predicted lower-than-expected growth for the year ahead due to a continuing slump in sales of its implants.

Mays To Decide Schools Consolidation Case Sometime After End Of June

Federal Judge Hardy Mays has approved an expedited schedule for deciding the schools consolidation lawsuit.

AAA: Memorial Day Travel Remains Flat

Against the backdrop of gas prices that are approaching $4 a gallon in more places nationwide, the American Automobile Association is forecasting the number of Americans driving during the Memorial Day weekend to drop for the first time in three years.

Multifamily Sector ‘Poised for Solid Growth’

Multifamily investment activity in Memphis continues to gain steam as lenders slowly loosen their purse strings.

State Senate Passes High-Alcohol Beer Bill

The state Senate passed a bill Friday that allows the sale of locally made high-alcohol-content beer.

Investors Buy Stalled Lamar Crossing Apartments

2881 Lamar Ave., Memphis, TN 38114, Sale Amount: $1.5 Million -
After sitting empty nearly four years following a 2007 groundbreaking, the formerly foreclosed Lamar Crossing apartments at 2881 Lamar Ave. finally have a new owner.

Simmer Down Now

Rational behavior reintroduced itself in the markets last week as the commodities market came off spin cycle. With the dust settling, we find oil back at $100, copper at $4, gold at $1,500 and the S&P 500 at 1340 – not far from where we were a month or so ago.

Stop Wasting Good Ideas

There is absolutely no shortage of good ideas these days; however, a lot of good ideas are totally wasted by people who do not understand how to connect sound ideas to some sort of concrete implementation plan – even if it is a ridiculously simple plan. One of the most common examples of this disconnection is the much talked about Pareto Principle, also referred to as the 80/20 Principle.

STATE LEGISLATURE

Gov. Haslam Pleased With 1st Legislative Session

NASHVILLE (AP) – Gov. Bill Haslam says he's pleased with how his first legislative session turned out, but that he's still working on "understanding the ebb and flow" of the process in the Tennessee General Assembly.

A Look at the Bills That Passed, Failed in 2011

Here is a look at some of the legislation that has either passed or failed during the first session of the 107th Tennessee General Assembly.

REGIONAL

Barbour Apologizes to Activists Arrested in Miss.

JACKSON, Miss. (AP) – Mississippi Gov. Haley Barbour has apologized to dozens of civil rights activists who were carted off to the state's notorious Parchman prison in the 1960s for attempting to desegregate interstate travel.

Miss. Casino Revenue Down in April

JACKSON, Miss. (AP) – Winnings for Mississippi's state-licensed casinos totaled $189.3 million in April, down from the $212.1 million in March, according to a report Monday from the state Revenue Department.

NATIONAL BUSINESS

Deal Sites Appeal to Shoppers and Businesses Alike

Groupon is adding 150 employees a month at its U.S. headquarters and trains them in a church because the conference rooms at its headquarters aren't big enough. Ideeli has crammed so much electronic equipment into its New York office that the power goes out every day.

Malone's Barnes & Noble Bid a Bet on the Nook

NEW YORK (AP) – Why buy a bookstore?

NATIONAL POLITICS

Feds Seek to Derail H&R Block’s Deal for TaxACT

BOSTON (AP) – The Department of Justice is trying to halt H&R Block’s plans to acquire the creator of TaxACT software, saying the deal would leave just two major competitors in the do-it-yourself tax preparation market.

GOP Frosh Take Care of Districts in Defense Bill

WASHINGTON (AP) – Hard-charging Republicans who rallied voters last year with cries of "Stop the spending, ban the earmarks" are quietly offering a more familiar Washington refrain now that they're in Congress – not in my backyard.

HEALTH CARE

AP-GfK Poll: Medicare Doesn't Have to be Cut

WASHINGTON (AP) – They're not buying it. Most Americans say they don't believe Medicare has to be cut to balance the federal budget, and ditto for Social Security, a new poll shows.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 115 270 19,843
MORTGAGES 141 311 23,225
FORECLOSURE NOTICES 35 83 8,387
BUILDING PERMITS 0 338 40,366
BANKRUPTCIES 74 196 13,300
BUSINESS LICENSES 25 48 6,185
UTILITY CONNECTIONS 40 125 13,120
MARRIAGE LICENSES 15 73 4,915

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