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VOL. 126 | NO. 112 | Thursday, June 9, 2011

City Council Delays Budget Approval

Memphis Mayor A C Wharton Jr. said Tuesday’s 13-hour City Council budget marathon proves the city will get its economic house in order over several years instead of in the next fiscal year alone.

Business on the Go

Companies find special niche in going mobile

From mobile pet services to mobile utensil sharpening, Memphis businesses more and more are seeking ways to reduce the hassle of the to-do list and capitalize on consumer needs by making themselves the most convenient option.

Survey Examines Local Social Media Use

The world of social media is a trending topic these days, but its presence locally is still relatively unknown.

Ardent Studios Adds New Film Department

Ardent Studios will celebrate the opening of its new film department with a reception Thursday night, June 9, at the legendary recording studio.

Flood-Prone Mobile Home Park At Center of Lawsuit

As the Mississippi River at Memphis last month neared its highest crest since 1937, attorneys for 29 residents of a mobile home park on U.S. 51 in Frayser were filing suit in Memphis federal court over the floods that heavily damaged the park a year earlier.

Local Weather
Currently
Memphis, TN
63.0°F
Light Rain
Wind: from the South at 16.1 gusting to 21.9 mph
Humidity: 93%

EVENTS

The National Hispanic Association will meet Thursday, June 9, from 11:30 a.m. to 1 p.m. at the Hilton Memphis, 939 Ridge Lake Blvd. Rakesh Kochhar, associate director of research for the Pew Hispanic Center in Washington, will speak about the growth of Tennessee’s Hispanic population. Cost is free for members and $25 for nonmembers. For reservations, call Ashley Hardin at 466-6476.

more events »

Memphis Can Learn From Canada’s Bio Model

The typical driver probably isn’t aware of how much soy product their car contains. From the color of the seats to the foam in the dashboard to the lining of the trunk, soybean-based materials are along for the daily commute.

Baer Leaves Mathematics To Pursue Law Degree

Cara R. Baer started out pursuing mathematics because of its certainties and wound up with a different set of certainties – the law.

LOCAL COLUMNISTS

Hobby As Investment?

As much as I resist the urge to read “Ask the Expert” finance columns, there are headlines I cannot ignore.

Big Easy Haiku Conference

NEW ORLEANS – How can I not write about the Haiku Society of America’s South Region annual meeting in New Orleans?

STATE LEGISLATURE

Chancellor: Tuition Jump Could be 9.5 Percent

MURFREESBORO, Tenn. (AP) – Students attending Tennessee colleges and universities could see a tuition increase of 9.5 percent or more this fall, the chancellor of the Tennessee Board of Regents said Wednesday.

Governor Signs Tenn. Child Custody Bill

NASHVILLE (AP) – Gov. Bill Haslam has signed legislation that would require judges to consider how to maximize a parent's involvement in a child's life when making custody decisions.

GOP Rethinking Limits on Teacher Union Lobbying

NASHVILLE (AP) – The Republican sponsor of a bill targeting the influence of the state's largest teachers' union says he is willing to revisit an element of the measure that prevents payroll deductions to be used to fund lobbying efforts at the Tennessee Capitol.

REGIONAL

Nissan Dispute Moved to Federal Court

CANTON, Miss. (AP) – Canton's lawsuit seeking to invalidate a state law that bars the city from annexing the Nissan plant site is now in federal court.

NATIONAL BUSINESS

Freight Railroads Deny Price-Fixing Accusations

OMAHA, Neb. (AP) – Union Pacific and Burlington Northern Santa Fe are defending their pricing practices after Oxbow Mining filed a federal lawsuit against the freight railroads.

McDonald's Sales Climb, But Gains Weaken in May

OAK BROOK, Ill. (AP) – Sales of McDonald's fruit and maple oatmeal and drinks like frozen strawberry lemonade pushed the fast-food chain's revenue at restaurants open at least 13 months up 3.1 percent in May.

Target Raises Quarterly Dividend Ahead of Meeting

NEW YORK (AP)Target Corp. raised its quarterly dividend by 5 cents to 30 cents, a 20 percent increase, as it sought to placate investors after a 22 percent decline in its stock price this year.

Wells Fargo Rolls Out Fixed-Rate Student Loans

NEW YORK (AP) – Wells Fargo is hoping to make its student loans more attractive to families.

Cargill Shifts Senior Management Responsibilities

MINNEAPOLIS (AP) – Privately held agribusiness conglomerate Cargill Inc. is shifting management responsibilities for its senior executives, with an eye on expansion in Latin America, Europe and Asia.

NATIONAL POLITICS

Fed Survey: Economy Falters in Several US Regions

WASHINGTON (AP) – For the first time this year, the economy has slowed in several U.S. regions, burdened by high gas prices that have weakened consumer spending and crises in Japan that reduced manufacturing output.

Senate Votes to Let Fed Trim Debit Card Swipe Fees

WASHINGTON (AP) – The Senate voted Wednesday to let the Federal Reserve slice the fees that stores must pay banks each time a customer swipes a debit card, handing merchants a victory over banks in a lobbying battle over billions in revenue.

Senate 'Gang of Six' Seek $4.7T in Deficit Cuts

WASHINGTON (AP) – A member of the "Gang of Six" senators working on a bipartisan plan to wrestle the deficit under control says the group has identified $4.7 trillion in spending cuts and revenue increases over the next decade.

Report: IRS Lax in Checking Auto Buying Deductions

WASHINGTON (AP) – The IRS did not require proof from people claiming deductions for new vehicle purchases allowed under the 2009 economic stimulus act, and has been slow to investigate claims for excessive deductions, according to a government watchdog report.

Obama Promotes Job Training as Economic Imperative

ALEXANDRIA, Va. (AP) – President Barack Obama says the growth of the U.S. economy will depend in part on training new workers for jobs in the manufacturing industry.

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Blog News, Training & Events
RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 110 405 5,939
MORTGAGES 141 492 7,092
FORECLOSURE NOTICES 0 85 1,115
BUILDING PERMITS 161 1,006 12,591
BANKRUPTCIES 43 259 4,347
BUSINESS LICENSES 49 184 2,363
UTILITY CONNECTIONS 22 160 2,540
MARRIAGE LICENSES 31 108 1,235

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