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VOL. 126 | NO. 145 | Wednesday, July 27, 2011

Agents Search Offices in Millington

A criminal investigation into corruption within Millington city government that began late last year surfaced Wednesday, July 27, with searches of government offices in the town by Tennessee Bureau of Investigation agents and investigators with the Shelby County District Attorney General’s office.

Coming Back

Jett barber school reflects attempt at Frayser rebirth

If you were a beautician in Frayser in the 1960s, you probably trained for your job at the Jett School of Beauty either at the Northgate Shopping Center or a strip shopping center on North Watkins Street in the Georgian Hills section of Frayser.

Delta Earnings Drop as More Cuts Coming

Delta Air Lines saw fuel prices substantially increase the cost of operating the worldwide air carrier, which has a hub at Memphis International Airport.

Two Firms Acquire Thompson Dunavant

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.

MCS Board Approves Funding Compromise

Memphis City Schools board members voted 8-0 Tuesday, July 26, to start the school year as scheduled on Aug. 8 provided the Memphis City Council approves its budget at the Aug. 2 council meeting including at least $68.4 million in city funding.

Local Weather
Currently
Memphis, TN
61.0°F
Partly Cloudy
Wind: South at 15.0 mph
Humidity: 35%

EVENTS

The Memphis Area Association of Realtors Commercial Council will serve as host for a breakfast Wednesday, July 27, at 8:15 a.m. at One Commerce Square Annex. Memphis Mayor A C Wharton Jr. will speak. Cost is $5. For reservations, call 818-2400.

more events »

Campbell Clinic Rolls Out New Identity

An established brand in Memphis health care has undergone a makeover. Campbell Clinic, a household name in orthopedic care for more than 100 years, is introducing its new brand identity to patients and the health care industry through its website, signage and billboards.

Elvis Eateries Coming to Europe

Diners throughout Europe will soon be chowing down in restaurants with décor inspired by the King of Rock ‘n’ Roll.

Morgan Keegan Details Could Come Soon

Regions Financial Corp. CEO Grayson Hall said during Regions’ second quarter earnings conference call Tuesday, July 26, that details would be forthcoming soon about the Memphis-based investment banking franchise 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.

DeVivo Departure Signals Shift at Smith & Nephew

Smith & Nephew Inc. said its Memphis-based president of Orthopaedic Reconstruction and Trauma will soon leave the company as part of an organizational restructuring that will combine the company’s Memphis and Andover, Mass., divisions.

Nashville Mayor Addresses Rotary

He’s a former public defender and he’s up for re-election this year as mayor. Crime in the city is down over the last six years and the police force has reached its full complement.

Cifuentes New HR Manager At ServiceMaster

Viviana Cifuentes has joined ServiceMaster by Stratos as human resources manager. Hometown: I was born in Bogota, Colombia, and raised in New York City.

LOCAL COLUMNISTS

No Laughing Matter

Laughter in the workplace offers more than just fun. Health experts say humor can boost immunity, lower stress hormones, decrease pain and prevent heart disease. In fact, one good, hearty laugh can reduce stress and relax your muscles for 45 minutes. We can all use at least a giggle in our workday.

On the Bandwagon – A Look at Google+

What do Snoop Dogg, Lance Armstrong and Newt Gingrich all have in common? Each has a Google+ account. As of early this month, the “latest and greatest” social networking site has entered the limelight.

These Three Things

Thing 1: Earnings As we entered earnings season, anxiety centered primarily on the financial sector given the feeble U.S. economy, stagnant housing markets and low financial market activity. The tapestry of earnings information provided by financials to date has well exceeded these low expectations. Certain surprises, such as American Express members’ record card usage, merit applause. Within more traditional lending institutions, loss provisions have ebbed. Commercial loan growth contributed to earnings in the quarter, and volumes have now grown for eight straight months. Beyond financials, high concerns around tech earnings have also abated, with 21 of 22 reports to date ahead of estimates. Overall, of the 121 S&P 500 companies that have reported, 101 have beaten estimates. Revenues have also surprised skeptics, climbing more than 10 percent overall.

STATEWIDE

Tennessee Protesters Urge Congress to Act on Debt

FRANKLIN, Tenn. (AP) — Protesters in Franklin said Tuesday that lawmakers in Washington are "holding America hostage" as they argue over increasing the nation's borrowing authority.

REGIONAL

Dem Luckett Touts Economic Record in Miss Gov's Race

CLARKSDALE, Miss. (AP) — Bill Luckett still vividly remembers his first work in helping renovate buildings. He was a ninth grader, and he sanded walls for house painters in his hometown of Clarksdale.

NATIONAL BUSINESS

Norfolk Southern's Q2 Profit Jumps 42 Percent

Railroad Norfolk Southern says its second-quarter earnings jumped as higher revenue offset a 60 percent increase in fuel costs.

UPS Sticks to Outlook as Earnings Rise

NEW YORK (AP) – UPS said on Tuesday that the sluggish U.S. economy will continue to impact its results this year, but it will grow earnings by raising prices and improving volume overseas.

Wealth Gap Widens Between Whites, Minorities

WASHINGTON (AP) — The wealth gaps between whites and minorities have grown to their widest levels in a quarter-century. The recession and uneven recovery have erased decades of minority gains, leaving whites on average with 20 times the net worth of blacks and 18 times that of Hispanics, according to an analysis of new Census data.

White House Threatens to Veto Boehner's House Plan

WASHINGTON (AP) — The White House threatened on Tuesday to veto emergency House legislation that aims to avert a threatened national default, a pre-emptive strike issued as Republican Speaker John Boehner labored to line up enough votes in his own party to pass the measure.

Post Office Ponders Closing 1 in 10 Retail Outlets

WASHINGTON (AP) — The Postal Service is considering closing more than 1 in 10 of its retail outlets including a number in the Memphis area.

Consumer Confidence Rises in July

NEW YORK (AP) — Two years into the recovery, Americans' confidence in the economy continues its rollercoaster ride.

REAL ESTATE

Spring Buying Gives Housing Market Temporary Lift

WASHINGTON (AP) — Home prices rose for the second straight month in most major U.S. cities and are stabilizing after years of declines. But analysts say the trend in prices hardly signals a rebound for the troubled housing market.

New-Home Sales Fall 1 Percent in June

WASHINGTON (AP) – Fewer people bought new homes in June, evidence that the housing market remains weak.

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Blog News, Training & Events
RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 0 331 19,904
MORTGAGES 0 391 23,305
FORECLOSURE NOTICES 0 83 8,387
BUILDING PERMITS 0 338 40,366
BANKRUPTCIES 1 232 13,336
BUSINESS LICENSES 0 76 6,213
UTILITY CONNECTIONS 0 125 13,120
MARRIAGE LICENSES 0 94 4,936

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