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VOL. 132 | NO. 89 | Thursday, May 4, 2017

First Horizon Buying North Carolina Bank for $2.2 Billion

The parent company of First Tennessee Bank is buying Charlotte, North Carolina-based Capital Bank Financial Corp., a $10 billion institution that will create the fourth-largest regional bank in the Southeast.

Frontier Adds Nonstop Flights from Memphis to Vegas

Memphis International Airport has announced Frontier Airlines will begin nonstop flights between Memphis and Las Vegas beginning Aug. 14.

Luttrell Shuns Tax Cut In Proposed $1.2B Budget

Shelby County Mayor Mark Luttrell has taken a $1.2 billion consolidated county government budget proposal to the Shelby County Commission that would maintain a stable property tax rate but shift a part of the tax rate to establish a capital projects pay-as-you-go fund.

Dream About to Become Reality at Youth Villages

Earlier this week, Youth Villages CEO Patrick Lawler presided over the groundbreaking of a $22 million expansion at the Bartlett campus that will result in a 148,000-square-foot center designed to enhance the treatment of the community’s most at-risk and vulnerable youth.

Council Moves to Operating Budget Examination

Memphis City Council members open budget hearings Thursday, May 5, on Memphis Mayor Jim Strickland’s $680 million operating budget proposal for the fiscal year that begins July 1.

Local Weather
Currently
Memphis, TN
54.0°F
Mostly Cloudy
Wind: Southwest at 6.9 mph
Humidity: 34%

EVENTS

The Memphis chapter of the American Marketing Association will meet Thursday, May 4, from 11:30 a.m. to 1 p.m. at Loflin Yard, 7 W. Carolina Ave. Dan O’Brien, partner at inferno, will present “Digital Marketing 101: What to know, how to navigate and why there is nothing to fear.” Cost is $15 for AMA members and $25 for pre-registered nonmembers. Visit amamemphis.org.

more events »

Forum to Riverfront Corridor Debuts In June

The area between FedExForum and the Mississippi River is getting a network of protected bike lanes and pedestrian plazas next month as part of a year-long pilot project.

Last Word: Three Gs React, More CA Changes and the Forrest Controversy Defined

The day after Germantown leaders offered his school system $25 million for Germantown Elementary, Middle and High Schools, SCS superintendent Dorsey Hopson was fielding calls from parents of students at the schools – the “three Gs” as they are known.

Eighteen Startup Teams Set to Begin ‘Summer of Acceleration’ in Memphis

Eighteen startup teams this week have kicked off the “Summer of Acceleration,” the season of joint accelerator programming across six startup accelerators overseen by the EPIcenter, Memphis Bioworks and Start Co.

Germantown Offers $25M for 3 SCS Schools

Germantown leaders made Shelby County Schools an offer Tuesday, May 2, of $25 million for Germantown Elementary, Middle and High schools – known as the “three Gs” – that remained part of SCS in the 2014 demerger of public education in Shelby County.

US ECONOMY

Fed Leaves Rates Unchanged But Signals Further Hikes Ahead

WASHINGTON (AP) – The Federal Reserve has left interest rates unchanged while signaling that it expects a resilient U.S. economy and solid job market to justify further rate hikes later this year.

TENNESSEE LEGISLATURE

It’s Not Hogwash, State Approves Silencer Bill

Tennesseans who want to shoot feral hogs won’t have to worry about scaring the critters now that they have permission to put a silencer on their rifle.

Lawmakers Still Seek Answers as Outsourcing Contract Gets Underway

A majority of Tennessee’s legislators, including several Shelby County lawmakers, are asking the state to hold up on a facilities management outsourcing contract with Jones Lang LaSalle.

Resolution Targets California’s Proposed Travel Ban, Discourages Similar ‘Blackmail’

Despite a Memphis lawmaker's concerns about a “knee-jerk” reaction, the House passed legislation Monday, May 1, aimed at a California travel ban against states passing anti-gay laws.

REAL ESTATE RECAP

New York Firm Pays $23M for 3 Germantown Hotels

7750 Wolf River Blvd., 9314 Poplar Pike and 9320 Poplar Pike, Germantown, TN 38138 | Sale Amount: $23 million

LOCAL COLUMNISTS

View From the Hill: Forrest Kerfuffle Might Be Sign of Bigger Problem

Legislation that slipped through the House of Representatives honoring an unknown author who penned a Nathan Bedford Forrest apologist biography was enabled by the climate within the Republican-controlled body, a Memphis legislator says.

Mission Failure: One Day at Disney

Four Disney parks in one day is possible but not very likely. I knew that before we secured one-day park-hopper passes for Walt Disney World, but I went ahead and did it anyway.

SPORTS

Parks Becomes Latest JUCO Prospect to Sign With Memphis

MEMPHIS, Tenn. (AP) – Memphis has added Southwest Mississippi Community College center Mike Parks Jr. to its roster.

STATEWIDE

Authorities Arrest 39 During Operation in West Tennessee

JACKSON, Tenn. (AP) – Authorities say 39 people have been arrested on charges including drug and weapons violations in West Tennessee.

Gay Marriage Plaintiffs Urge Opposition to Tennessee Bill

NASHVILLE, Tenn. (AP) – Two plaintiffs in the landmark U.S. Supreme Court gay marriage case want Republican Gov. Bill Haslam to veto legislation requiring use of the "natural and ordinary meaning" of undefined words in state law.

Finnish Tiremaker Nokian to Build $360M Plant in Tennessee

DAYTON, Tenn. (AP) – Finnish tiremaker Nokian plans to build a new $360 million plant in Tennessee, creating 400 new jobs.

REGIONAL NEWS

Study: TVA System Creates Nearly $12B Impact on Region

KNOXVILLE, Tenn. (AP) – A new study estimates the Tennessee Valley Authority's managed river system created an $11.9 billion economic impact in the Tennessee Valley last year.

NATIONAL BUSINESS

Apple’s Growing Cash Stash Spurs Talk of Huge Acquisition

SAN FRANCISCO (AP) – As Apple's stash of cash grows, so does the possibility that the world's most valuable company will use some of the money for a huge acquisition that would expand its empire beyond iPhones and other gadgets.

Survey: US Businesses Added Solid 177,000 Jobs in April

WASHINGTON (AP) – U.S. businesses added 177,000 jobs last month, a private survey found, a solid gain that suggests the economy is still expanding despite recent signs of slower growth.

NATIONAL GOVERNMENT

Renewable Energy Critic to Oversee Wind and Solar Programs

WASHINGTON (AP) – The Trump administration has named a fervent critic of government support for wind and solar projects to oversee federal renewable energy programs.

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Blog News, Training & Events
RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 82 82 19,655
MORTGAGES 75 75 22,989
FORECLOSURE NOTICES 7 7 8,311
BUILDING PERMITS 138 138 40,167
BANKRUPTCIES 72 72 13,176
BUSINESS LICENSES 9 9 6,146
UTILITY CONNECTIONS 52 52 13,048
MARRIAGE LICENSES 30 30 4,872

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