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VOL. 125 | NO. 142 | Friday, July 23, 2010

Brighter Future

Banking industry improves as focus shifts to community

The financial services industry in Memphis is apparently back to thinking about tomorrow, rather than simply making it through today.

Bankers Await Post-Overhaul Futures

Now what?

Rout Brings Experience, Leadership To BankTennessee

Jim Rout was an elected official in Shelby County for nearly 30 years and served two terms as the county’s mayor, beginning in 1994.

Efforts Increased to Reach the ‘Unbanked’

This spring, Memphis Mayor A C Wharton Jr. announced the launch of “Bank On Memphis,” a financial literacy campaign whose goal is to bring “unbanked” Mid-Southerners into the financial mainstream.

Accredo Again Breaks Earnings Record

Accredo Health Group’s revenues hit $2.8 billion during the second quarter as the Memphis-based provider of specialty pharmaceuticals hit another sales record.

Local Weather
Currently
Memphis, TN
59.0°F
Overcast
Wind: Southwest at 6.9 mph
Humidity: 46%

EVENTS

The Orpheum Theatre will host Frankie Vallie and the Four Seasons September 18 and Jerry Seinfeld September 24 at the theater, 203 S. Main St. Tickets for both events will go on sale Friday at 10 a.m. For more information, call 525-3000 or visit www.orpheum-memphis.com.

more events »

Urology Clinic Eyes Radiation Therapy for Southaven Locale

The Conrad Pearson Clinic Urology Center of the South is trying to convince the state of Mississippi to allow a $6.6 million investment for an advanced radiation therapy device at its Southaven location.

Early Voters Showing Up in Droves

At a clip of more than 7,000 voters a day this week, early voting in advance of the Aug. 5 Election Day is on pace to triple the 31,000 total early voters in advance of the May 4 county primaries.

IDB Approves $45 Million For Downtown Hilton

A luxury hotel planned for the corner of Linden Avenue and Fourth Street got a big boost this week with the approval of $45 million in taxable revenue bonds from the Industrial Development Board.

Slice of Memphis Found on Park

For Pete’s sake, it’s Sam’s.

Memphis to Launch Anti-Poverty Initiative

The city of Memphis will soon launch an ambitious anti-poverty initiative thanks to funding that a group of national foundations has pooled together at the request of New York City Mayor Michael Bloomberg.

MEMPHIS AREA

International Paper Agrees to Sell Land for $200M

MEMPHIS (AP) — Paper and packaging producer International Paper Co. said Thursday it agreed to sell 163,000 acres of land in the southeastern U.S. to a Rock Creek Capital affiliate for about $200 million.

STATEWIDE

Haslam Launches Ad to Defend Self, Attack Wamp

DYERSBURG, Tenn. (AP) — Knoxville Mayor Bill Haslam on Thursday responded to negative television ads by a rival Republican gubernatorial candidate by launching a double-length spot of his own.

More Than 150K Vote Early in Tenn.

NASHVILLE, Tenn. (AP) — The state says more than 150,000 Tennesseans have already voted early for the August election.

Feds Defend Response to Tennessee Flooding

WASHINGTON (AP) — Federal officials on Thursday defended their response to historic flooding in Tennessee that killed 22 people earlier this year, while acknowledging they could have done a better job of warning the public of the potential devastation.

NATIONAL BUSINESS

Recovery Mixed on Strong Earnings, Weak Home Sales

WASHINGTON (AP) – A flurry of strong earnings reports renewed Wall Street’s optimism in the economic recovery, even as new data Thursday showed homes sales sinking and claims for unemployment benefits rising.

UPS Raises Outlook for Year Despite Mixed Economy

NEW YORK (AP) — UPS isn't expecting U.S. consumers to significantly increase spending anytime soon. Instead, it's counting on businesses to push the economy — and UPS' domestic business — slowly forward with overdue purchases of computers and other electronics.

NATIONAL POLITICS

Checks Will be Coming: Jobless Benefits Renewed

WASHINGTON (AP) — Federal checks could begin flowing again as early as next week to millions of jobless people who lost up to seven weeks of unemployment benefits in a congressional standoff.

Fed Chief to Congress: Don't End Stimulus Spending

WASHINGTON (AP) — Federal Reserve Chairman Ben Bernanke told Congress Thursday that the fragile economy needs government stimulus spending to strengthen the recovery and help reduce unemployment.

Senate Democrats Abandon Comprehensive Energy Bill

WASHINGTON (AP) — Senate Democrats on Thursday abandoned plans to pass an energy bill that caps emissions of carbon dioxide, saying Republicans refuse to support the measure.

REAL ESTATE

Refinancings Rise as Mortgage Rates Hit 4.56 Percent

NEW YORK (AP) — The lowest mortgage rates in decades are just too good for some people to pass up.

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Blog News, Training & Events
RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 73 155 19,728
MORTGAGES 95 170 23,084
FORECLOSURE NOTICES 12 19 8,323
BUILDING PERMITS 200 338 40,366
BANKRUPTCIES 50 122 13,226
BUSINESS LICENSES 14 23 6,160
UTILITY CONNECTIONS 33 85 13,080
MARRIAGE LICENSES 28 58 4,900

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