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VOL. 130 | NO. 117 | Wednesday, June 17, 2015

FedEx Earnings Miss Wall Street Expectations

FedEx Corp., hit by unfavorable currency exchange rates, lower fuel surcharges and special charges, reported lower-than-expected revenue and profits for the fiscal fourth quarter.

Memphis City Council Delays Budget Votes Until June 23

Memphis City Council members put off final budget votes Tuesday, June 16, after trying for several hours to rearrange Memphis Mayor A C Wharton Jr.'s budget proposal.

Memphis Restaurants ‘Love Their Patios’

The warm weather means it's that time of year again for Memphis diners.

MDH Partners Buys Belz's Memphis Industrial Portfolio

An Atlanta-based firm has acquired a large industrial portfolio from Belz Enterprises.

Sam’s Hamburgers in 100 N. Main Could Be Forced to Close

Amjad “AJ” Odeh moved to Memphis in 1996 to partner with Osama Eltaych at the old Sam’s Hamburgers & More that was operating at 16 S. Front St.

Local Weather
Currently
Memphis, TN
87.0°F
Partly Cloudy
Wind: Southwest at 6.9 mph
Humidity: 63%

EVENTS

Luna Nova Ensemble will present the ninth annual Belvedere Chamber Music Festival Wednesday, June 17, through Saturday, June 20. Evening concerts are at 7:30 p.m. each night at Grace-St. Luke’s Episcopal Church, 1750 Peabody Ave. Afternoon concerts are Friday and Saturday at 3:30 p.m. at the Beethoven Club, 263 S. McLean Blvd. Admission is free. Visit lunanova.org.

more events »

Shelby County Schools Board Weighs Benefits Options

The Shelby County Schools board didn’t take any votes Monday, June 15, as it got a look at more specific recommendations to change health insurance benefits for retirees and employees, including teachers.

Shelby County Commission to Resolve Budget Loose Ends

The last time Shelby County Commissioners talked as a group about a county budget for the fiscal year that begins July 1, the consensus they thought they had reached was falling apart.

Glad You Could Drop In

Lifeblood celebrates Donor Fest with 'human blood drop'

Lifeblood donors, employees, family and friends celebrated the sixth annual Donor Fest by forming a human blood drop Saturday, June 13.

NEWSMAKERS

Chism Opens Capital Advisors/Bellwether Enterprise's Memphis Office

Jeremy Chism has joined Capital Advisors/Bellwether Enterprise as vice president to open the company’s Memphis commercial real estate loan production office. The firm provides financing solutions through a vast network of insurance companies, CMBS lenders and commercial lenders for commercial real estate.

LOCAL COLUMNISTS

Predicting Sales & Marketing Plan Returns

Far too many companies look to past growth as the single best predictor of future growth in setting annual revenue targets with little analysis of the factors driving that past progress, anticipated market shifts over the coming year, and the predictability of the sales and marketing strategies built into their annual plan. It is a goal-setting process with a high likelihood for failure caused by either unrealistically high goals or those which aren’t nearly aggressive enough.

Investors, Mind Your Footing

Bonds Can Lose Money After All. Heightened Fed concerns mixed with rising inflation indices in the U.S. and Europe have continued to press interest rates higher across the curve.

STATEWIDE

Former Sen. Baker's Huntsville Estate to Be Up for Auction

HUNTSVILLE, Tenn. (AP) – The massive Huntsville estate of former U.S. Sen. Howard Baker is going up for auction.

STATE GOVERNMENT

Federal Appeals Court Asked to Throw Out TennCare Case

NASHVILLE, Tenn. (AP) – Tennessee is asking a federal appeals court to throw out a class-action lawsuit that claims the state left thousands of TennCare applicants in indefinite limbo, with their applications neither approved nor rejected.

Tennessee Comptroller's Audit Division Wins National Award

NASHVILLE, Tenn. (AP) – The state comptroller's audit division has won the 2015 excellence in accountability award from the National State Auditors Association.

NATIONAL BUSINESS

Twitter CEO 'Over The Moon' About Changes Ahead

SAN FRANCISCO (AP) – Twitter's lame-duck CEO Dick Costolo says he is leaving the company stocked with new features that will boost revenue and help make the short-messaging service useful to more people.

NATIONAL GOVERNMENT

Fed Likely to Signal Coming Rate Hike If Economy Strengthens

WASHINGTON (AP) – With evidence that the U.S. economy is rebounding from a winter slump, the Federal Reserve will likely signal this week that an interest rate increase is coming – just not quite yet.

FDA Tells Food Industry to Phase Out Artificial Trans Fats

WASHINGTON (AP) – Popular foods like pie crusts, frostings and microwave popcorn will be largely rid of artery-clogging trans fats after a decision by the Obama administration to phase them out over the next three years.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 80 401 13,843
MORTGAGES 99 439 16,005
FORECLOSURE NOTICES 19 63 2,202
BUILDING PERMITS 233 998 28,755
BANKRUPTCIES 49 276 8,926
BUSINESS LICENSES 23 136 4,701
UTILITY CONNECTIONS 23 141 5,534
MARRIAGE LICENSES 15 88 2,982

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