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VOL. 126 | NO. 128 | Friday, July 1, 2011

Lambuth Files Bankruptcy, Moves Toward Transfer

Lambuth University has filed for chapter 11 bankruptcy, one of several steps expected to lead to a transfer of the Jackson, Tenn., university to the Tennessee Board of Regents and through the board of regents to the University of Memphis.

Electric Future

FedEx’s doubling of electric fleet sign of things to come

This week’s announcement that Memphis-based FedEx Express will double its fleet of all-electric vehicles to 43 is more than a new way of moving some of the wheels of the world’s largest express transportation company.

CVB Begins Convention Center Control

The Memphis Cook Convention Center is now run by the same agency that already plays a direct role in bringing conventions to the city.

Driver Services Center Site Sells for $1.6M

An Omaha, Neb.-based real estate investment firm has acquired a single-tenant office building near Poplar Avenue and the Union Avenue crossover.

Public Hearings Next Step for Madison Bike Lanes

The tentative plan for bicycle lanes on Madison Avenue between Cleveland and Cooper streets is broadening to look at larger changes or adjustments in the Midtown street environment.

Local Weather
Memphis, TN
A Few Clouds
Wind: Calm mph
Humidity: 74%


FRED’S, Frito-Lay and Bumpus Harley-Davidson are joining to raise funds to assist Staff Sgt. Russell Logan, a member of the Air National Guard, at a cookout Sunday, July 3, from 11 a.m. to 2 p.m. at Bumpus Harley-Davidson, 325 S. Byhalia Road in Collierville. Logan lost his left foot while on patrol in Afghanistan. To make a contribution or for more information, call Bumpus at 316-1121.

more events »

Spay & Neuter Services Gets Helping Hand

A contest pitting 55 Memphis-area salons against one another for the title of “Most Pet-Friendly Hair Salon” came to a finish this week, with a total of $7,300 raised for Mid-South Spay & Neuter Services, a nonprofit clinic dedicated to reducing pet overpopulation through affordable spay and neuter services.

Shafer Mentors Children Through Skating

Aaron Shafer works as a production scientist at St. Jude Children’s Research Hospital, but after leading a movement for Memphis’ newest skate park and teaching children and teenagers how to drop in on a half-pipe in his backyard, Shafer’s real passion is mentoring kids in the Memphis community.


Couple Of Firecrackers

RUNNING FULL CIRCLE. This July Fourth weekend, I’ll be doing what many of you will be doing. Dealing with some part of a pig and some brand of beer, laughing with folks, and hopefully pausing to be hopeful, remembering those who made and make it possible for all of us to do all of that. I’ll also be doing what a couple hundred guys in our forces in Afghanistan will be doing – remembering two cute Memphis girls.

Business Plan Basics, Part Three

Part three of a three-part series about the role of the business plan: an interview with Dr. Jan Young In our last two columns, we’ve shared with you the wisdom of Dr. Jan Young, executive director of the Assisi Foundation of Memphis, about the development of business plans for nonprofits. Here, we asked her to provide examples of how a business plan can impact an organization’s success.

Your Website and Online Credibility

Having a credible website substantiates your brand or business. While you may think your website is legitimate, you may be surprised that others don’t agree. Often, the simplest things that establish the validity of your website are the ones that get overlooked. Take some time to evaluate your online presence to avoid the appearance of looking phony.


New Laws on Tenure, Terrorism Still Contentious

NASHVILLE (AP) – A batch of new laws are taking effect in Tennessee on Friday, July 1, including a measure that toughens tenure requirements for teachers and another that is billed as fighting terrorism but that Muslim residents worry has targeted them for unfounded suspicion.

Winchester to Fill 200-250 Jobs

OXFORD, Miss. (AP) – Winchester Ammunition has plenty of applicants for the 200-250 jobs it hopes to fill by the end of the year for its Oxford operation.


Federal Officials Release College Cost Comparisons

Looking for a college bargain? Try any of nine University of Puerto Rico campuses, where annual tuition hovers at or below $2,000.

'Skills Gap' Leaves Firms Without Worker Pipeline

PROVIDENCE, R.I. (AP)John Russo's chemical lab in North Kingstown has been growing in recent years, even despite a deflated economy, and he expects to add another 15 to 20 positions to his 49 employees over the next year.

Retail Trade Group Spends $490,000 in Q1 Lobbying

WASHINGTON (AP) – The Retail Industry Leaders Association spent $490,000 in the first quarter to lobby the federal government on a variety of issues from unemployment insurance and consumer credit to banking reform and Chinese currency valuation, according to a recent disclosure report.


Senate Republicans Block Hearing on Trade Bills

WASHINGTON (AP) – Senate Republicans have blocked a hearing on three trade bills because they do not want to link the deals to an extension of a program that retrains workers hurt by foreign trade.

Senate to Work Next Week on Debt Limit Impasse

WASHINGTON (AP) – The Senate abandoned plans for a July 4 break as time dwindled for lawmakers to strike a compromise on avoiding a government default and reducing mammoth federal deficits. In a challenge to President Barack Obama, the chamber's top Republican invited him to the Capitol to discuss the impasse with GOP lawmakers.

Colbert Gets Conditional OK on Campaign Finance

WASHINGTON (AP) – The Federal Election Commission said Thursday that comedian Stephen Colbert can use his TV show's resources to boost his political action committee, but he must disclose some major expenses as in-kind contributions from the show's corporate owners.

Federal Jobless Tax for Employers Expiring Quietly

WASHINGTON (AP) – Virtually every private employer in the U.S. will get a tax cut on Friday.

S&P Says US Will Get Lowest Rating if It Defaults

WASHINGTON (AP) – A Standard & Poor's executive said the agency will give the U.S. government its lowest credit rating if Congress fails to raise the borrowing limit and the United States defaults on its debt.


Mortgage Exec Gets 30 Years for $3 Billion Fraud

ALEXANDRIA, Va. (AP) – An executive convicted of orchestrating a $3 billion fraud as chairman of one of America's largest private mortgage companies was sentenced Thursday to 30 years in prison.

Fixed Mortgage Rates Hold Steady Near Yearly Lows

WASHINGTON (AP) – Fixed mortgage rates were mostly unchanged this week, hovering near their annual lows.


Medtronic Spent $1.3M on Lobbying in Q1

WASHINGTON (AP) Medtronic Inc., the world's largest medical device maker, spent nearly $1.3 million lobbying Congress on issues affecting its products in the second quarter, according to a recent disclosure form.

AP Exclusive: Fuzzy Math in Health Law Formula

WASHINGTON (AP) – Another unintended consequence of President Barack Obama's health care law has emerged: Older adults of the same age and income with similar medical histories could pay widely different amounts for private health insurance due to a quirk of the complex legislation.


End of the Road

No more easy money now that Fed’s QE2 $600 billion program is over

ot long after the Federal Reserve announced a controversial program in November 2010 to buy $600 billion in U.S. government securities, Tennessee’s junior senator found himself besieged by incredulous voters at a town hall meeting in Memphis.

Manipulation Won’t Fix Financial Woes

The stimulus was an attempt to fill the gap from recession to recovery.

Variety Spices Up BPACC Season

If you’re looking for opera, you’re out of luck, but the Bartlett Performing Arts and Conference Center has a little of most every other musical genre slated for the first half of the coming season.

Darkened Doors Speak To Industry Challenges

“We couldn’t make the space work. We tried, but we couldn’t get over the hump to get the numbers.”

8-Grape Red Bursts With Personality

The madcaps at Michael David Winery have a knack for making bold California wines and keeping us amused with labels and packaging. They’re the guys that produce 7 Deadly Zins and 7 Heavenly Chardonnays, who name wines Lust and Sloth, Gluttony and Rapture and created a line of bruising reds called Earthquake.

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PROPERTY SALES 84 84 12,005
MORTGAGES 78 78 13,948
BANKRUPTCIES 54 54 7,816

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