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VOL. 126 | NO. 161 | Thursday, August 18, 2011

Kruger Files $40 Million Loan for Memphis Plant

Canada-based manufacturer Kruger Inc., which has been considering several locales including Memphis as possible sites for a major capital investment, this week filed a $39.8 million construction loan for its existing Memphis facility at 400 Mahannah Ave., north of Downtown.

Living on the Edge

Coffeehouse owner hoping to find success at latest location

In 2008, something was brewing in the area near Cleveland and Watkins streets south of Poplar Avenue in Midtown.

Second Steamboat to Dock in Memphis

The Memphis riverfront will have two queens next summer.

New Economic Development Board Gets Started

The new Economic Development Growth Engine approved its existence Wednesday, Aug. 17, while also addressing some confusing technicalities.

County Commission Reviews City Buyout of Convention Center

Shelby County Commissioners reviewed Wednesday, Aug. 17, the city of Memphis’ plan to buy out the county’s share of the Memphis Cook Convention Center for $75 million.

Local Weather
Currently
Memphis, TN
42.0°F
Fair
Wind: Northwest at 10.4 mph
Humidity: 53%

EVENTS

The Downtown Memphis Commission will hold a public-sector focus group meeting as part of the Downtown Memphis Design Guidelines and Sign Code update Thursday, Aug.18, at noon in the DMC conference room, 114 N. Main St. For more information, call 575-0540.

more events »

Kate Spade Opening Saddle Creek Store

Trendy retailer Kate Spade is opening a new store in Germantown’s Saddle Creek shopping center.

Bass Pro, Pyramid Project Grows

The adaptive reuse of The Pyramid by Bass Pro Shops got about $105 million larger in scope this week.

Economy Has Little Effect on Fine Dining

In the wake of 9/11, Estée Lauder Cos. chairman Leonard Lauder noticed his company was selling more lipstick than usual.

Possible Mediation Expected In Schools Case

Before he rules on the second part of the schools consolidation case, federal Judge Hardy Mays might give mediation another try.

Metropolitan Grows, Adds Mortgage Team

Metropolitan Bank, which has started renovating a new East Memphis office that should be open toward the end of the year, is stepping up its presence in the Memphis market.

Krupicka to be Honored For Labor, Employment Work

Growing up with a mother who pursued the field of law for more than 40 years, Lisa Krupicka, a member at Burch, Porter & Johnson PLLC, wanted nothing more than to follow her mother’s footsteps to pursue law work.

LOCAL COLUMNISTS

Raise Money-Wise Kids

Ray’s Take: Most kids have no idea where money comes from or that the supply isn’t infinite. But they do know it’s mighty useful. And they want it.

Solver Feedback

“Ask and ye shall receive.” I’ve heard that for years. May even have read it somewhere. But I certainly have proved it to be true. Repeatedly, over time.

STATEWIDE

UT Gets Major Grant to Improve Nation's Power Grid

KNOXVILLE (AP) – The University of Tennessee has received a National Science Foundation grant to research the overhaul of the nation's electric power transmission system.

Report Shows Decline in Tenn. ACT Scores

NASHVILLE (AP) – State education officials say a recent ACT college entrance exam report highlights the ongoing need for education reform in Tennessee.

National Report: Tenn. Improving in Child Welfare

NASHVILLE (AP) – A national report shows Tennessee is taking better care of its children.

$360.9M in States' Bids Approved for US Funding

WASHINGTON (AP) – The Obama administration announced Tuesday the approval of $360.9 million in applications by 11 states and the District of Columbia for funding under a program designed to encourage new lending to small businesses to help create jobs.

Corker: Federal Regs on Online Taxes 3-4 Years Off

CARTHAGE, Tenn. (AP) – Republican U.S. Sen. Bob Corker said Tuesday that could be three or four years before Congress passes national guidelines on tax collections by online retailers like Amazon.com.

REGIONAL

Miss. Universities Get Research Technology Boost

JACKSON, Miss. (AP) – Officials say four Mississippi universities and other government entities should be connected by the end of this year to a high-speed broadband network that will boost their research capacity.

NATIONAL BUSINESS

Fund Investors Yank $40B in a Week, Most Since '08

Rattled investors pulled more than $40 billion from mutual funds in a single week this month as fears about the global economy intensified.

Wells Fargo to Test $3 Debit Card Fee

NEW YORK (AP) – Wells Fargo plans to test a $3 monthly fee for its debit cards starting this fall.

Core Wholesale Inflation Up Most in 6 Months

WASHINGTON (AP) – A key measure of wholesale inflation rose in July by the most in six months.

Stodgy Consumer Staples Appeal in Down Markets

When the stock market gets dicey, focus on companies that make basic everyday products like toothpaste, toilet paper, razor blades and baby food. Consumers buy them no matter what the economy's doing.

Target's Q2 Profits Up 3.7 Percent

NEW YORK (AP)Target Corp., buoyed by its push into groceries and incentives it offers credit cardholders, posted a 3.7 percent increase in second-quarter profit and said earnings for the year will beat Wall Street estimates.

NATIONAL POLITICS

UP Spent Nearly $1.5M Lobbying Congress in Q2

OMAHA, Neb. (AP) – Union Pacific spent $1.49 million during the second three months of 2011 to lobby Congress on railroad regulations, pollution restrictions and highway shipping rules.

Obama to Lay Out New Jobs Plan in Sept. Speech

WASHINGTON (AP) – Seeking to jolt the economy, President Barack Obama will propose new ideas to create jobs and help the struggling poor and middle class in a major speech after Labor Day. And then he will try to seize political advantage by spending the fall pressuring Congress to act on his plan.

REAL ESTATE

Obama: Another Year or More for Housing Turnaround

ATKINSON, Ill. (AP) – President Barack Obama said Wednesday that it will likely be another year or more before the housing market picks up and home prices and sales start rising.

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Blog News, Training & Events
RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 115 270 19,843
MORTGAGES 141 311 23,225
FORECLOSURE NOTICES 35 83 8,387
BUILDING PERMITS 0 338 40,366
BANKRUPTCIES 74 196 13,300
BUSINESS LICENSES 25 48 6,185
UTILITY CONNECTIONS 40 125 13,120
MARRIAGE LICENSES 15 73 4,915

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