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VOL. 126 | NO. 147 | Friday, July 29, 2011

State Asks for NCLB Waiver

Tennessee Gov. Bill Haslam says the state is asking federal education officials to give the state a waiver in meeting federal education standards under the No Child Left Behind program.

Reservation Rebound

Memphis’ mid-scale hotel market sees higher demand, occupancy

The Memphis hotel and lodging market is experiencing increased demand and rising occupancy rates thanks to no new hotel construction and flat supply.

IP Fares Well in ‘Sideways’ Quarter

International Paper Co. reported 8 percent revenue growth in the second quarter. The Memphis-based paper company also reported net earnings of $224 million for the quarter ending June 30 compared to $93 million for the same three months of 2010.

Nike Adds 400K Square Feet To Local Portfolio

The world’s largest maker of athletic gear has signed a lease in Memphis’ Southeast industrial submarket to handle its newly acquired NFL contract.

Wright Medical's Q2 Net Sales Up 4 Percent

Wright Medical Group Inc., an Arlington-based global orthopedic medical device manufacturer, on Thursday, July 28 reported its net sales had risen 4 percent in the second quarter, totaling $132.5 million as compared to $127.7 million during the second quarter of 2010.

Local Weather
Currently
Memphis, TN
66.0°F
Fair
Wind: South at 9.2 mph
Humidity: 54%

EVENTS

A touchdown celebration will be held for Wei Chen, the first Chinese citizen to circumnavigate the globe, Friday, July 29, at 10:30 a.m. at Wilson Air Center, 2930 Winchester Road. Chen will land his Daher-Socata TBM700 after completing a 69-day trip around the world.

more events »

THEC Approves Lambuth as State School

The Tennessee Higher Education Commission on Thursday, July 28, approved the acquisition of Lambuth University in Jackson, Tenn., by the state of Tennessee.

Complex Forces at Work in Debt Debate

Tennessee Gov. Bill Haslam has begun talking about a trip to New York in September to meet with representatives of the three major credit rating agencies.

Highwoods Properties’ Q2 Funds Down to $45.8 Million

Highwoods Properties Inc.’s second-quarter funds from operations was $45.8 million – down from $48.7 million during the same period last year – the company announced Thursday, July 28, in its second-quarter earnings conference call.

Market Seeing Ups and Downs

The housing market’s recovery could be another year out, commercial sales are at record highs and Memphis is back in the game of economic development.

Cmty. Considers Health Improvements

More than 100 community leaders from various sectors gathered at the University of Memphis earlier this week for the 2011 Let’s CHANGE Summit, a daylong event with the purpose of identifying strategies as part of a community agenda to help generate policies and harnessing stakeholder collaboration to move those plans into action.

I.O. Metro Launches Call to Artists

As a regional chain store, Bentonville, Ark.-based I.O. Metro has characteristics typical of mid-size mass retailers: 20 stores in 10 states, and low to moderate prices made possible by mass production and buying in bulk.

Delta Sticks to Guns on Reduced Capacity

Even with earnings down 58 percent in the second quarter of 2011 compared to a year ago, Delta Air Lines Inc. CEO Richard Anderson remained locked this week on the message that Delta’s capacity reduction is at the right level and is the right thing to do.

Porter’s Inclinations Prove He’s No ‘One-Trick Pony’

Michael Porter has written just about everything – songs, screenplays, TV scripts, advertising campaigns. He’s even acted, directed and produced for video.

LOCAL COLUMNISTS

It’s Time For City Council To Grow Up

IT’S NOT JUST ABOUT THE CHILDREN. THEY’RE IN CHARGE. When I was about 8, Johnny Edgar swung upside down on our backyard chinning bar and, unbeknownst to him, 75¢ fell out of his pocket. A fortune. Found money.

Nonprofit Sector has Economic Impact

This column is written for people who work in fundraising for nonprofit organizations or institutions. That means hospitals, colleges, the opera, job training programs, after-school programs, food banks, sports teams, charter schools, museums, senior centers, research institutes and more.

STATEWIDE

Minor Parties Sue for Easier Ballot Access

NASHVILLE, Tenn. (AP) — Two political parties have filed a federal lawsuit in Nashville, claiming state law makes it too hard for them to get candidates on the ballot.

All Tennessee BlueCross Stored Data Now Secure

CHATTANOOGA, Tenn. (AP) — BlueCross BlueShield of Tennessee says it has secured all its stored electronic records and there is no indication any customer information on computer hard drives stolen in October 2009 has been misused.

NATIONAL BUSINESS

Applications for Unemployment Aid Drop Below 400K

WASHINGTON (AP) — The number of people seeking unemployment benefits dropped last week to the lowest level since early April, a sign the job market may be healing after a recent slump.

Top Bankers Urge Obama, Congress to Reach Deal

NEW YORK (AP) — The chief executives of the largest U.S. financial institutions sent a letter to The White House and to members of the Congress, urging them come to an agreement this week to raise the nation's borrowing limit.

Oil Wavers on Debt Ceiling, Tropical Storm

NEW YORK (AP) — Oil settled virtually unchanged Thursday, as traders waited to learn more about the possible impact of a tropical storm in the Gulf of Mexico, the wrangling over the debt ceiling in Washington and the debt crisis in Europe.

HEALTH CARE

Gov't: Health Tab to Hit $4.6 Trillion in 2020

WASHINGTON (AP) — The nation's health care tab is on track to hit $4.6 trillion in 2020, accounting for about $1 of every $5 in the economy, government number crunchers estimate in a report released Thursday.

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Blog News, Training & Events
RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 102 224 17,767
MORTGAGES 127 277 20,703
FORECLOSURE NOTICES 0 0 0
BUILDING PERMITS 176 510 36,326
BANKRUPTCIES 54 146 11,828
BUSINESS LICENSES 21 80 5,640
UTILITY CONNECTIONS 27 147 12,181
MARRIAGE LICENSES 11 60 4,417

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