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VOL. 126 | NO. 136 | Thursday, July 14, 2011

Q2 Foreclosure Activity Slows

The second quarter foreclosure numbers for Shelby County are Exhibit A in why context is sometimes more important than content.

Canvas Creations

Blossoming artists help paint parties thrive

Nothing beats bonding and developing friendships from a night out with friends. Throw in an opportunity to take home some original artwork, and it’s a no-brainer why the paint-party business has grown in the Memphis area over the past few years.

Details Emerge About Bloomberg's $4.8M Memphis Grants

New York City Mayor Michael Bloomberg calls it the “Mayors Project.”

14 Apply For Council Appointment

Fourteen citizens had applied by the noon Thursday, July 14, deadline for the District 7 vacancy on the Memphis City Council.

Metropolitan to Open Second Memphis Branch

Metropolitan Bank is opening a new office in East Memphis.

Medtronic Inc. Draws Barrage Of Criticism

Medtronic Inc. has come under fire after a series of articles published in Spine Journal claimed surgeons on the company’s payroll failed to disclose complications that arose during clinical trials of a bone-growth protein.

Home Sales Decline in Fayette, Tipton Counties

While home sales in both Tipton and Fayette counties took hits in the second quarter – down 11.9 percent and 6.4 percent, respectively, compared to the same period last year – each area also boasted improvements compared to the first quarter, which is promising for local experts.

Madison Bike Lane Talks Move On

With the completion of public meetings this week, a group of business owners along Madison Avenue who remain opposed to designated bicycle lanes are prepared to take their opposition directly to Memphis Mayor A C Wharton Jr.

Final Madison Bike Lane Hearing Weighs Options

Now the decisions begin about how to redraw the markings on Madison Avenue in Midtown.

Redrawn Lines Affect Council Contenders

Mud Island has become a kind of safe harbor for candidates hoping to make it onto the Memphis City Council in the Oct. 6 city elections.

Joiner Leaves Trucking To Become Attorney

After working as a long-haul truck driver to French provinces outside Montreal and Quebec City, Canada, for almost four years, Michael Joiner decided he wanted to become a lawyer for Rainey, Kizer, Reviere & Bell PLC instead.

Bloomberg Grants Memphis $4.8M

The Bloomberg Philanthropies, the non-profit philanthropic organization of New York City Mayor Michael Bloomberg, is giving the city of Memphis $1.6 million every year for the next three years to come up with programs to reduce handgun violence and revitalize vacant property in the core city with new commercial activity and building.

LOCAL COLUMNISTS

Planner Essential For Health

Ray’s Take: Working with a financial planner is a lot like having a primary care doctor, only it’s all about taking care of financial health instead of your physical well-being. Not unlike your doctor, your financial planner gives your financial condition regular check-ups and works with you to create strategies for achieving healthy monetary goals. Even the advice you get has similarities – cut down on the fat and give your money more of a workout so it performs better.

Justice Blind but Hearing Well

Thus far, I’ve avoided writing about the politician with the big hair and the name I can’t spell. But his recent 17-count corruption conviction causes me to relent. Charged with attempting to trade on the prestige of his office, he was found guilty by a jury who wish he was not their peer.

STATEWIDE

Mentally Disabled Sue Tenn. Over Cuts to Home Care

NASHVILLE (AP) – A group of 39 disabled Tennesseans is suing the state over cuts to in-home care services they say will force them from their homes.

STATE LEGISLATURE

All Legislation OK'd by State Lawmakers Now Online

NASHVILLE (AP) – All the legislation approved this year during the General Assembly is now available online.

NATIONAL BUSINESS

GE Head Immelt: No Magic Potion on Jobs

GREENVILLE, S.C. (AP) – The chairman of President Barack Obama's jobs and competitiveness council said Wednesday there is no magic potion to jobs creation, but the panel is devising pragmatic plans to put people back to work.

Survey: Most Pharmaceutical Execs Foresee More M&A

TRENTON, N.J. (AP) – A survey of top executives of U.S. drugmakers indicates mergers and acquisitions should pick up in the next couple of years, as companies aim to offset rising generic competition.

Walgreen Boosts Dividend, OK's $2B Stock Buyback

NEW YORK (AP) – Drugstore operator Walgreen Co. said is raising its quarterly dividend by almost 29 percent to 22.5 cents and its board has authorized a new $2 billion stock buyback program.

NATIONAL POLITICS

Budget Deficit on Track to Top $1 Trillion

WASHINGTON (AP) – The federal budget deficit is on pace to break the $1 trillion mark for the third straight year, ratcheting up the pressure on the White House and Congress to reach a deal to rein in spending.

Obama Raises More Than $86M for Campaign, Party

WASHINGTON (AP) – Off to a huge early lead in the money race, President Barack Obama hauled in $86 million for his re-election campaign and the Democratic Party in the past three months. It's better than he did in his victorious first presidential campaign, despite the sluggish economy and constant criticism from Republicans who hope to replace him.

Bernanke: Fed Would Supply More Stimulus if Needed

WASHINGTON (AP) – Federal Reserve Chairman Ben Bernanke said Wednesday that the central bank is prepared to provide additional stimulus if the economic lull persists.

HEALTH CARE

Drug Stops HIV Among Hetero Couples, Not Just Gays

ATLANTA (AP) – An AIDS drug already shown to help prevent spread of the virus in gay men also works for heterosexual men and women, two studies in Africa found. Experts called it a breakthrough for the continent that has suffered most from AIDS.

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Blog News, Training & Events
RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 76 145 2,480
MORTGAGES 65 148 3,042
FORECLOSURE NOTICES 12 20 497
BUILDING PERMITS 213 310 5,313
BANKRUPTCIES 43 87 1,866
BUSINESS LICENSES 14 40 936
UTILITY CONNECTIONS 23 52 1,064
MARRIAGE LICENSES 8 21 364

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