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VOL. 126 | NO. 123 | Friday, June 24, 2011

Bernanke, Smith Differ on Economy

The same day that the chairman of the Federal Reserve was saying economic problems could persist into 2012, the founder of Memphis-based FedEx was telling analysts growth was on the way and the economy was through a “soft patch.”

Workout Surge

Summer is prime time for fitness club marketing, improvements

As the Memphis summertime heat intensifies, fitness clubs across the area are seeing membership numbers rise thanks to a developing trend for healthier living and more active lifestyles.

Ga.-Based Coastal Logistics Signs Lease

A budding Savannah, Ga.-based third-party logistics firm is expanding into the Southeast Memphis industrial market. Coastal Logistics Group Inc. has signed a new 50,000-square-foot lease at 5715 Distribution Drive.

IDB to Consider Tax Break for Kruger

The Memphis-Shelby County Industrial Development Board will meet next week to consider awarding a 15-year tax freeze to K.T.G. USA LP, a subsidiary of Canada-based Kruger Inc.

Former Council Member Ware Takes Diversion Plea

Former Memphis City Council member Barbara Swearengen Ware has taken diversion in the official misconduct case that led to her suspension from the council late last year and her resignation from the council effective Wednesday, June 22.

Local Weather
Memphis, TN
Mostly Cloudy
Wind: South at 4.6 mph
Humidity: 74%


The Small Business Chamber Breakfast Club will meet Friday, June 24, from 7:30 a.m. to 9 a.m. at Office Suites Plus, 6000 Poplar Ave., suite 250. Cost is free to members and first-time guests and $10 for returning guests. For more information, call Melody Douglas at 261-5400.

more events »

Internships Serve as Career ‘Stepping Stone’

Of the 10 interns Memphis public relations firm Obsidian has enlisted in the past five years, they’ve hired close to a third of them.

Friday Events Target Interns

Two events catering to students and young workers in the Memphis area who want to learn more about the community and connect with peers are scheduled for Friday, June 24, from 6 p.m. to 9 p.m., coinciding with the South Main Art Trolley Tour.

Orchards of Collierville Sells for $15.7M

The Orchards of Collierville – a 226-unit apartment community at 400 Orchard Circle W. – has sold for $15.7 million.

GTx Offers 10 Million Shares

Memphis-based biotechnology company GTx Inc. on Thursday, June 23, announced it is pricing 10 million shares of stock offered to the public at $4.75 per share.

Cooley Works to Keep Children Safe From Abuse

Keita Cooley and just about everyone who knows her always had an inkling she’d end up devoting her own life to bettering the lives of children.


Do The Math

Look for real answers. When our son was in the 10th grade at White Station, he had a substitute math teacher one semester. He was called out of retirement to teach the class and he was older than Copernicus. I know this because I thought he was already 100 when he taught me … or tried to teach me … trigonometry at White Station decades before.

Business Plan Basics, Part Two

Part two of a three-part series about the role of the business plan: an interview with Dr. Jan Young: Last week, Dr. Jan Young explained how creating a business plan can help nonprofit organizations assess their capacity, strategy and potential funding sources. This week, she discusses the basics of creating a plan.


Jet Service Returning to Tupelo Regional

TUPELO, Miss. (AP) – Commercial passenger jet service will be coming back to Tupelo Regional Airport in September, a move precipitated by the fact that Delta Air Lines is phasing out its Saab 340 turboprop fleet.


US to Issue Subpoenas in Google Antitrust Probe

WASHINGTON (AP) – A published report says federal regulators are preparing to issue subpoenas to Google and other companies as authorities gather information for a broad antitrust probe into the Internet search leader's business practices.

Kroger Co. Focuses on Building What it Already Has

CINCINNATI (AP)Kroger Co.'s CEO says the nation's largest grocery store operator is focused more on increasing sales from its existing customers than entering new markets or buying out competitors.

Higher Card Use, Better Payments Lift Discover Q2

NEW YORK (AP) – Discover Financial Services on Thursday said its profit more than tripled in its fiscal second quarter as it added new customers, while existing customers used their cards more and got better about making payments on time.

Penny Auction Sites Could Cost a Chunk of Change

NEW YORK (AP) – An iPad for $88.07? An Xbox for $15.33? Sold!


Unemployment Applications Jump by Most in a Month

WASHINGTON (AP) – The number of people who applied for unemployment benefits last week rose by the most in a month, signaling growing weakness in the job market.

IRS Increases Gas Mileage Deduction in Midyear

WASHINGTON (AP) — The Internal Revenue Service is increasing the tax deduction motorists can take for using private vehicles for business, a rare midyear move sparked by high gas prices.

House Heads Toward Vote on Patent System Overhaul

WASHINGTON (AP) – After years of effort to modernize the patent system and assure the competitive edge of American inventors, a proposed overhaul neared a close vote in the House on Thursday.

Layoffs, Housing Data Point to Chronic Problems

WASHINGTON (AP) – Sour reports Thursday on the number of people who sought unemployment benefits and buyers of new homes illustrate what Federal Reserve Chairman Ben Bernanke acknowledged Wednesday: Many factors weighing on the economy are proving to be more chronic than first imagined.

Republicans Bail on Budget Talks, Blame Democrats

WASHINGTON (AP) – Republicans pulled out of debt-reduction talks led by Vice President Joe Biden with a flourish on Thursday, blaming Democrats for demanding tax increases as part of a deal rather than accepting more than $1 trillion in cuts to Medicare and other government programs.

Desperate Democrats Eye Tax Cut as Jobs Booster

WASHINGTON (AP) – Desperate to boost employment and their bleak poll numbers, the White House and Democrats in Congress are turning to a Republican idea for stimulating the economy: tax cuts.


Medtronic Increases Dividend and Stock Buyback

MINNEAPOLIS (AP) – Medical device maker Medtronic Inc. raised its quarterly cash dividend Thursday and expanded its stock buyback authorization.

Court: Generic Drug Makers Not Liable for Warnings

WASHINGTON (AP) – The Supreme Court on Thursday ruled that makers of generic drugs cannot be sued for failing to warn consumers of the possible side effects of their products if they copy the exact warnings on the brand-name equivalents of the medicines.

Prescription Drug Data Mining Law Struck Down

WASHINGTON (AP) – States cannot stop drug manufacturers and data-mining companies from using information about the prescription drugs individual doctors like to prescribe, the Supreme Court ruled Thursday.

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PROPERTY SALES 83 188 9,757
MORTGAGES 100 182 11,496
BUILDING PERMITS 194 328 20,638
BANKRUPTCIES 61 119 6,556

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