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VOL. 130 | NO. 121 | Tuesday, June 23, 2015

Graceland Hotel Developers File $84 Million Construction Loan

The developers behind a massive hotel near Graceland are ready to shake, rattle and roll on the project.

Memphis City Council Approves Pay Raises, Stable Property Tax Rate

Memphis City Council members put City Hall’s budget season to rest Tuesday, June 23, with approval of a $656.5 million city operating budget that includes 2 percent pay raises for city police and firefighters and a 1 percent pay raise for all other city employees starting in January.

Greening the Region

Already an award winner, Greenprint plan seeks regional approval

A result of a $2.6 million grant from the U.S. Department of Housing and Urban Development and two years of planning, the pre-implementation phase of the Mid-South Regional Greenprint and Sustainability Plan is gaining momentum.

County Commission Takes Long Way to Budget Approval

In the space of five hours Monday, June 22, Shelby County Commissioners voted down an operating budget, a capital budget and an attempt at a continuation budget to keep spending at the same levels past July 1 and into the new fiscal year.

Airport Leaders Talk Post-Delta Era

Two years ago this month, Delta Air Lines executives told officials at Memphis International Airport that Memphis would no longer be a Delta hub, an announcement that came after a series of cuts in the number of daily flights.

Local Weather
Currently
Memphis, TN
45.0°F
Mostly Cloudy
Wind: South at 6.9 mph
Humidity: 46%

EVENTS

Memphis Blues Society and Overton Square will host a Bluesday Tuesday concert featuring John Nemeth with guest Eric Hughes Tuesday, June 23, from 6:30 p.m. to 9:30 p.m. in the Tower Courtyard, 2101 Madison Ave. Cost is free. Visit overtonsquare.com.

more events »

Collierville Aldermen Approve 25-Cent Property Tax Hike for New School

The Collierville Board of Mayor and Aldermen approved Monday, June 22, a 25-cent property tax hike to partially finance construction of a new, $99 million Collierville High School.

OneJet Is Memphis International Airport’s Newest Airline

OneJet, a startup airline catering to business travelers, has launched its Memphis to Indianapolis route, providing easy access to several large markets in the Midwest.

Wunderlich’s Hogan Offers Latest Read on Economy

A little more than a year ago, Wunderlich Securities Inc. chief market strategist Art Hogan stood before an audience of business leaders assembled by The Daily News – part of the paper’s regular seminar series – and offered his take on an economic recovery that looked different depending on where a person stood.

Council to Tackle Police, Fire Pay Raises Tuesday

The Memphis Police Association is asking its attorneys if union police officers are forbidden from going on strike if the Memphis City Council ignores an impasse committee’s recommendation to raise officer pay 3 percent.

REAL ESTATE RECAP

Michigan Investor Pays $7.5 Million for Hickory Hill Apartments

5995 Waterstone Oak Way, Memphis, TN, Sale Amount: $7.5 million -
RoCo-Lakes LLC, a Michigan limited liability company, purchased two parcels comprising The Lakes at Ridgeway Apartments on June 11.

LOCAL COLUMNISTS

Sales Gauging Techniques that Move the Needle

Unless you have more sales from ideal customers than you know what to do with, your organization can benefit from sales measurement strategies. They allow you to not only forecast future sales but also to dissect your team’s success through each step of the sales cycle in order to fine-tune your approach and improve results.

I Survived Disneyland

I must’ve been out of my mind. How else to explain an anti-Disney person deciding to travel two time zones to visit Disneyland, just days after the official kickoff of the madness of the 60th anniversary celebration?

STATEWIDE

Nashville Restaurant Removes Image of Confederate Flag

NASHVILLE, Tenn. (AP) — A Nashville restaurant has removed an image of the Confederate flag after criticism of it arose in the Nashville mayoral race.

Former Sen. Baker's TN Estate Auctioned for $701K

HUNTSVILLE, Tenn. (AP) — An auction company says the massive Huntsville estate of former U.S. Sen. Howard Baker has sold for $701,000.

Nun Who Vandalized TN Uranium Bunker Likely to Remain Free

NASHVILLE, Tenn. (AP) — An 85-year-old nun and two fellow Catholic peace activists are likely to remain free because the government said Monday that it will not seek to have a sabotage charge reconsidered.

NATIONAL BUSINESS

Here's Why Home Sales Are Finally Surging

WASHINGTON (AP) — Real estate has gotten hot again.

Ex-Gulfstream Exec Gets 11 Years for Embezzling $10M

LOS ANGELES (AP) — A former Gulfstream Aerospace executive has been sentenced to more than 11 years in prison after he acknowledged embezzling more than $10 million from the company to fund a lavish lifestyle that prosecutors say included escorts and two homes.

NATIONAL GOVERNMENT

White House: Action Needed Now to Slow Climate Change

WASHINGTON (AP) — Failure to act on climate change could cause an estimated 57,000 deaths in the United States from poor air quality by 2100, the Obama administration argued in a new report Monday that warns of dire effects of global warming.

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Blog News, Training & Events
RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 109 199 999
MORTGAGES 112 243 1,195
FORECLOSURE NOTICES 6 57 152
BUILDING PERMITS 129 448 1,653
BANKRUPTCIES 59 144 635
BUSINESS LICENSES 58 132 298
UTILITY CONNECTIONS 27 55 392
MARRIAGE LICENSES 0 0 82

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The Memphis News: Business, politics, and the public interest.