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VOL. 131 | NO. 160 | Thursday, August 11, 2016

SEC Investigation of Global Ministries Foundation Surfaces

The Securities and Exchange Commission is investigating Global Ministries Foundation, according to the court-appointed receiver for the Tulane and Warren Apartment, two complexes owned by GMF.

Wiseacre’s Coliseum Plan Fueled By Growth

Council chairman Kemp Conrad noted the timing is “hot off Overton Park and the Greensward” – the protracted controversy the council was heavily involved in. “I do think it’s going to move fast one way or another,” Conrad said Tuesday, Aug. 9, of the concept of a new Wiseacre brewery in the Coliseum.

Low Inventory Hits Home Sales, Pushes Prices Up

For the second month in a row, Shelby County home sales dipped below 2015 volume.

Mortgage Market Up 5 Percent in July

The month of July heralded the same story for Shelby County’s mortgage market that’s been unfolding for a while now, and especially since the beginning of the year.

Last Word: SEC and GMF, Wiseacre's Growth and Apartment Action

The Securities and Exchange Commission has been investigating Global Ministries Foundation since mid-July. The revelation turned up Wednesday in a Memphis Federal Court filing by the receiver appointed to oversee and sell the Tulane and Warren apartments.

Local Weather
Currently
Memphis, TN
88.0°F
Partly Cloudy
Wind: from the West at 11.5 gusting to 19.6 mph
Humidity: 50%

EVENTS

Playhouse on the Square opens its 2016-17 season with the regional premiere of “Mamma Mia!” Friday, Aug. 12, through Sept. 4 at 66 S. Cooper St. Visit playhouseonthesquare.org for times and tickets.

more events »

Roen Takes Helm of MALS Pro Bono Services

Leah Roen is in her first week as the new director of pro bono services for Memphis Area Legal Services (MALS), and she’s already forging new partnerships that will bring legal advice and support to those who need it most.

Baker Donelson Shareholder Klein Named President of American Bar

Attorney and Baker Donelson senior managing shareholder Linda A. Klein is the new president of the American Bar Association.

Council Mends CLERB Rules, Questions Future Role

One of the last major acts of the Memphis City Council that left office at the end of 2015 was passage of an ordinance that reconstituted the Civilian Law Enforcement Review Board.

SPORTS

Bland Home Schedule, Thin Roster Mark Tubby Smith’s Debut as Tigers Coach

The University of Memphis men’s basketball team’s home non-conference schedule does not include a game with a marquee opponent or even with a fierce regional rival such as Tennessee. But the schedule does offer home games with the likes of Texas-Rio Grande Valley, Savannah State, Monmouth and Incarnate Word.

REAL ESTATE RECAP

Varsity Brands Warehouse Sells for $9.5 Million

3131 Appling Road, Bartlett, TN 38133 -
The Varsity Brands distribution building in the Bartlett Corporate Park has sold for $9.5 million. A trust comprised of Oparts Memphis LLC and KABR Real Estate Investment Partners LLC sold the property to Appling Road Memphis LLC in an Aug. 4 warranty deed.

LOCAL COLUMNISTS

How to ‘Fix’ Frustrating Relationships

My father had a knack for summing up a philosophy in just one sentence. While I did not always appreciate the wisdom hidden in his advice, I have come to understand, and value, his favorite advice to me: “Never try to teach a pig to sing; it will only frustrate you and annoy the pig.”

What Would It Take for Trump to Lose Tennessee Voters?

Murfreesboro Realtor Larry Sims almost closes his ears when Donald Trump speaks.

A Summer of Ingestion, Part 2

It’s been a summer of ingestion – not indigestion. I’ve read, I’ve watched. Last week I wrote about movies. This week the topic is books.

MEMPHIS AREA

Memphis Mother Waives Hearing in Stabbings of 4 Children

MEMPHIS, Tenn. (AP) – A woman accused of stabbing her four young children has waived her preliminary hearing, meaning a grand jury will decide whether to indict her in the killings.

STATEWIDE

SBA Loans Available in Some Tenn. Counties Due to Drought

NASHVILLE, Tenn. (AP) – Some businesses and groups affected by drought this summer in Tennessee have disaster loans available to them.

Private Inspectors in Charge of Tennessee Fair Ride Safety

NASHVILLE, Tenn. (AP) – A private inspector and police are blaming "mechanical failure," but government investigators are still sorting out exactly how a Ferris wheel seat flipped over at a Tennessee county fair, sending three girls plummeting 30 to 45 feet to the ground.

NATIONAL BUSINESS

Wendy's Says Cheaper Groceries Keeping People at Home

DUBLIN, Ohio (AP) – Wendy's is the latest major fast-food chain to report weaker-than-expected sales growth, with the hamburger company saying people aren't dining out as much because it has gotten even cheaper to eat at home.

ECONOMY

US Employers Advertised More Jobs and Boosted Hiring in June

WASHINGTON (AP) – U.S. employers advertised more openings and hired more people in June, adding to evidence that the job market has rebounded from a brief soft patch in the spring.

US Registers $113 Billion Budget Deficit in July

WASHINGTON (AP) – The federal government last month recorded the biggest monthly budget deficit since February, and the deficit so far this budget year is running 10 percent higher than a year ago.

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Blog News, Training & Events
RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 119 482 10,051
MORTGAGES 119 497 11,811
FORECLOSURE NOTICES 29 82 1,716
BUILDING PERMITS 268 1,056 21,366
BANKRUPTCIES 50 263 6,700
BUSINESS LICENSES 28 151 3,584
UTILITY CONNECTIONS 33 172 4,155
MARRIAGE LICENSES 20 111 2,290

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