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VOL. 126 | NO. 144 | Tuesday, July 26, 2011

DeVivo Out, Smith & Nephew to Restructure

Joseph “Joe” DeVivo is out as president of Orthopaedic Reconstruction and Trauma for Smith & Nephew Inc., the company told The Daily News Monday.

Get on the Bus

NAR tour across America promotes home ownership

A large red, white and blue bus is traveling America to promote what the National Association of Realtors calls the “foundation of American values” – home ownership.

Thompson Dunavant Gets New Ownership

Thompson Dunavant PLC, the largest locally owned accounting firm in Memphis, has been acquired by two separate firms that work together under what’s known as an alternative practice structure.

Morgan Keegan Bid Deadline Arrives

Monday, July 25, was reportedly a deadline for Regions Financial Corp. to get initial bids for the Memphis-based investment bank Regions put on the auction block in June.

Mueller’s Q2 Earnings Jump 44 Pct.

Memphis-based Mueller Industries Inc. has reported a 44 percent increase in its second quarter earnings compared to the second quarter of 2010.

Local Weather
Currently
Memphis, TN
65.0°F
Mostly Cloudy
Wind: South at 12.7 mph
Humidity: 56%

EVENTS

The GOTV Club will present a seminar titled “Healthcare Reform for Business Owners” Tuesday, July 26, from 11:30 a.m. to 1 p.m. at the Crescent Club, 6075 Poplar Ave., suite 909. Philip Johnson of Argyle Benefits Consultants will speak. Cost is $25. To register, visit thegotvclubjuly.eventbrite.com.

more events »

MCS Board Sets Tuesday Meeting On City Funding Standoff

Memphis City Schools board members meet in special session Tuesday, July 26, at 7:15 p.m. to take up the offer by the city of Memphis to pay $64.8 million in installments to the school system.

EDGE Keeps Memphis ‘In the Ball Game’

For the longest time, elected leaders and local economic development officials have lamented a missing ingredient surrounding what Memphis and Shelby County can do to prime the pump for business investment in the area.

Orion Hits ‘Home Run’ With REO Placement Program

A Memphis woman is getting a second chance at owning her own home, thanks to a rare program that takes hard work into account over credit scores. For Blondell Phillips, it’s the American Dream, Take 2.

Mayoral Showdown Pits Wharton, Harvey

They filed for the Oct. 6 city elections one day apart. They served together in Shelby County government. Their campaigns are using different versions of the same basic computer software for targeting voters.

Best Times to Host Senior Expo

The Best Times, a monthly news magazine for active, mature Mid-Southerners, will host a Senior Expo and Health Fair on Wednesday, July 27, from 9 a.m. to 3 p.m. at Oak Court Mall, 4465 Poplar Ave.

Villas at Cordova Complex Sells for $14.2M in Foreclosure

8546 Prestine Loop, Cordova, TN 38018, Sale Amount: $14.2 million -
The Villas at Cordova apartment complex at 8546 Prestine Loop in Cordova has sold in a substitute trustee’s deed following a foreclosure for $14.2 million

LOCAL COLUMNISTS

Hiring Winners

If you could pick one characteristic of your key employees, or, for that matter, all your employees, what would it be? Of course, there is no absolutely correct answer to this question; however, I’ll bet high on most hiring managers’ lists is picking someone with a passion for what they are going to be asked to do at work. Life is weird. A job that one person absolutely detests is another person’s dream job. A job that drains one person energizes another. As the old saying goes, “Different strokes for different folks.”

Data Disasters Happen Every Day

Tornadoes, floods, earthquakes and tsunamis. While recent natural disasters may remind business leaders about the importance of continuity plans, most CEOs may not realize that data disasters occur every day, and the repercussions can be devastating.

New “Bottom Line” on Lease Accounting

Part one of a two-part series. Does your company lease space or equipment for its operations? If so, and you aren’t already familiar with planned changes in the accounting treatment of leases, then you should take the time to read this column.

STATEWIDE

State Jobs Initiative for At-Risk Youth Recognized

NASHVILLE (AP) – Tennessee's Jobs for Tennessee Graduates initiative has been recognized for exceeding five goals of its parent organization.

Contributions Sought for Tenn. 9/11 Memorial

MURFREESBORO, Tenn. (AP) – The Rutherford County Sheriff's Office is seeking contributions of cash or materials for a memorial to emergency responders and American citizens who died during the 9/11 terrorist attacks.

STATE LEGISLATURE

Harwell Stops Payment for Some Legislator Travel

NASHVILLE – House Speaker Beth Harwell, who donates her own legislative expense payments to charity, has moved to curtail the expense money other state representatives collect for out-of-state traveling.

NATIONAL BUSINESS

Airport Projects Halted

WASHINGTON (AP) – Dozens of airport construction projects across the country are on hold and thousands of federal employees are not working because Congress failed to pass legislation to keep the Federal Aviation Administration operating, Transportation Secretary Ray LaHood said Monday.

More Airlines Raise Fares to Grab Tax Savings

DALLAS (AP) – The great tax holiday of 2011 for air travelers is just about over.

AP-GfK Poll: Worries About Debt Rising Once Again

WASHINGTON (AP) – Just last fall, Americans were feeling better about their personal finances. Now they're starting to worry more about how they'll pay off debts as they feel the nation's economic recovery wobbling.

Blackberry Maker to Cut 2,000 Jobs, Splits COO Job

NEW YORK (AP) – Faced with tough competition and falling profits, BlackBerry maker Research In Motion Ltd. is cutting 2,000 jobs as part of a cost savings plan announced last month and is shuffling some senior executives.

NATIONAL POLITICS

Obama Fundraisers Postponed Amid Debt Limit Talks

WASHINGTON (AP) – President Barack Obama's re-election campaign has canceled or postponed a series of fundraisers as negotiations continue over the nation's debt limit.

IRS Eases Liability Rule for Spouse's Tax Debt

WASHINGTON (AP) – The Internal Revenue Service is making it easier for some "innocent spouses" to escape liability for their husband's or wife's tax debt.

HEALTH CARE

Drug Prices to Plummet in Wave of Expiring Patents

The cost of prescription medicines used by millions of people every day is about to plummet.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 89 344 19,573
MORTGAGES 110 422 22,914
FORECLOSURE NOTICES 0 8,303 8,303
BUILDING PERMITS 207 838 40,029
BANKRUPTCIES 60 356 13,104
BUSINESS LICENSES 21 194 6,137
UTILITY CONNECTIONS 30 147 12,996
MARRIAGE LICENSES 15 65 4,842

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