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VOL. 126 | NO. 138 | Monday, July 18, 2011

First Horizon Beats Forecast With Q2 Profit

Controlling what we can control. That was a talking point used by the leadership of First Tennessee Bank’s parent company a handful of times during its second quarter earnings presentation to analysts Friday morning. It reflects things outside the company’s influence, like a volatile interest rate environment, as well as controllable factors like aggressive cost-cutting moves intended to dramatically lower the company’s efficiency ratio by 2013.

Selling on the Airwaves

Realtor duo use radio show for unique advertising

In the world of advertising, persistence is key. That can be through mail-outs, billboards, print advertising or, as in the recent case of Carol and Amanda Lott, broadcasting.

Temple-Inland Again Rejects IP Offer

AUSTIN, Texas (AP) - Temple-Inland says its board has again rejected an unsolicited takeover bid by larger rival Memphis-bsed International Paper, saying it "grossly undervalues" the company.

IDB Preps for Final Meeting

This week’s meeting of the Memphis-Shelby County Industrial Development Board will be the last one – ever.

Health Care Seminar Tackles Tough Issues

The topic was contentious, but the discourse remained civil Thursday, July 14, during The Daily News’ Healthcare Reform Seminar, the third in a series of six seminars hosted by the newspaper this year.

Local Weather
Currently
Memphis, TN
58.0°F
Partly Cloudy
Wind: Northeast at 5.8 mph
Humidity: 41%

EVENTS

Visible Music College, in partnership with the Cooper Young Business Association, will continue its music series Visible Live Monday, July 18, from 6 p.m. to 8 p.m. at the corner of Cooper Street and Young Avenue. The Sunday Traffic Brass Quintet will perform. The event is free and open to the public.

more events »

Bloomberg Grant Highlights Big City Challenges

When the nonprofit foundation of New York City Mayor Michael Bloomberg went looking for cities to award grants for innovation, foundation leaders didn’t just give out an address and wait for applications.

Civil Court Filings Drop in Second Quarter

Court filings in Circuit, Chancery and Probate courts were down for the second quarter compared to the same quarter a year ago and the first quarter of 2011, according to The Daily News Online, www.memphisdailynews.com.

Agape North Provides Charity Through Clothing

With a classic sense of fashion and an idea to help people in need, Joe Williams created apparel company Agape North that donates a portion of the profit made to children in Peru as well as various nonprofit organizations.

LOCAL COLUMNISTS

Cook Proposals, Then Let Cool

Getting up proposals for prospects is usually fun and positive. It somewhat resembles cooking. I am not a cook and I microwave everything, but I like the analogy. Brew up some inventory, bake the price, add in a discount, a dash of free stuff, make some weird hand and facial gestures over it, let cool and deliver in a nice-looking package. Cha-Ching!? One hopes.

Giving Back For Growth?

Last week we spotlighted Agape’s Powerlines Community Network, which is a “place-based” program connecting under-resourced neighborhoods with resources and services needed to help create a more nurturing environment for children and families. This week let us refocus on the genesis of this column by discussing how community engagement makes a good growth strategy.

THE MEMPHIS NEWS

‘In This Together’

Buy Local campaign seeks to promote Memphis businesses

For some Memphis consumers, it’s a completely natural impulse to go out of the way to keep from going far away when there’s money to spend. Those particular consumers will run over a TCBY to get to YoLo, shove past a Starbucks to get their caffeine fix at Otherlands, Republic or Cafe Eclectic, hop over an IHOP to stand in line at Brother Juniper’s and dodge Dillard’s to suit up at shops like Oak Hall and James Davis.

Support Local Biz, Save Our Economy

At a time when so many elements of a daily life in our city can change by choice, the “Buy Local” campaign is another part of a movement that is reconfiguring modern Memphis in ways that have nothing to do with bricks and mortar.

Faraway Films on Tap at Indie Series

Summer sequels and Hollywood blockbusters are dominating the big screen this season, but a slightly smaller screen in Midtown is offering something off the beaten path.

Soul Fish Cafe’s Po Boy True Taste of Memphis

The first in an occasional series, “The Anatomy of a Sandwich.”

’09 d’Asti Offers Perfect Balance for Sweet Wine

Don’t run screaming for the door: I’m going to recommend a sweet wine.

STATEWIDE

Cracker Barrel Cuts 60 Jobs

LEBANON, Tenn. (AP) – Restaurant operator Cracker Barrel Old Country Store Inc. said Friday that it eliminated about 60 jobs as part of a cost-cutting program.

State Electronic Library Now has World Book

NASHVILLE (AP) – The Tennessee Electronic Library is now offering material from World Book encyclopedia.

REGIONAL

No Injuries in Cargill Feed Plant Explosion

BYHALIA, Miss. (AP) – Officials say there was an explosion at the Cargill Animal Nutrition feed plant in north Mississippi, but it didn't cause a fire and nobody was injured.

NATIONAL BUSINESS

Zillow Raises IPO Expected Price Range

NEW YORK (AP) – Real estate listing and information service Zillow Inc. said Friday it now hopes to raise up to $71.6 million through an initial public offering, up from its original expectation of as much as $55.7 million.

Drop in Gas Prices Lowered Inflation in June

WASHINGTON (AP) – Consumer prices fell last month for the first time in a year because of a steep drop in gas costs. But Americans paid more for autos, clothes and hotel stays, driving prices outside of volatile food and energy costs up.

S&P Warns it May Downgrade US Credit Rating

WASHINGTON (AP) – Credit rating agency Standard & Poor's said on Thursday that there is a 50 percent chance it will downgrade the U.S. government's credit rating within three months because of the congressional impasse over approving an increase in the debt ceiling.

NATIONAL POLITICS

Obama Challenges Congress: Do ‘Something Big’

WASHINGTON (AP) – President Barack Obama on Friday challenged Congress to compromise and "do something big" to reduce long-term deficits, insisting he was willing to make his own tough choices including trimming benefits for wealthy Medicare recipients. Facing a critical Aug. 2 deadline to raise the nation's debt limit, Obama said the public was on his side but "we're running out of time."

House Passes Energy Bill $6B Below Obama's Request

WASHINGTON (AP) – As lawmakers argued over long-term deficit reduction, the Republican-led House on Friday cut 20 percent from President Barack Obama's budget request for energy and water projects.

Gov't Wants to Know All the Fees Airlines Charging

WASHINGTON (AP) – Five dollars for a pillow, $10 to jump ahead in the boarding line – all those annoying airline fees can add up.

HEALTH CARE

FDA Reaches Out to Small Businesses

WASHINGTON (AP) – The head of the Food and Drug Administration pledged Friday, July 15, to work more closely with small medical technology companies, which have spent the last year alleging that the agency is needlessly slowing approvals of new drugs and devices.

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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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