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VOL. 130 | NO. 163 | Friday, August 21, 2015

University of Memphis Reports Costs of Student-Athlete Scholarships

In a move to follow suit with the Power Five conferences, the University of Memphis has launched an initiative to provide full cost of attendance for its student-athletes. 

Memphis Chamber Backs Wharton in Mayor’s Race

The political action committee of the Greater Memphis Chamber is backing Memphis Mayor A C Wharton Jr. for re-election.

Lenoir: ‘Is It Time for a Tax Decrease?’

Shelby County Trustee David Lenoir says the $22 million extra in property tax revenue his office collected during the past fiscal year appears to be a trend of improving health in the local economy.

FedEx Reaches Tentative Agreement With Pilots Union

FedEx Corp. pilots have a tentative contract agreement with the Memphis-based shipping giant.

In Business for 140 Years, Burke’s Book Store is Making a Comeback

Independent bookstores tend to mean something special to lovers of the printed word. They aren’t just places of commerce, even for their owners, but a sanctuary for something in danger of slipping away in an increasingly digital world.

Local Weather
Currently
Memphis, TN
75.0°F
A Few Clouds
Wind: East at 3.5 mph
Humidity: 88%

EVENTS

Saint Thomas Health, a nonprofit Middle Tennessee health care system, will host a clinical recruitment fair Friday, Aug. 21, from 9 a.m. to 4 p.m. at Memphis Marriott East, 5795 Poplar Ave. Visit sths.com.

more events »

Tennessee Unemployment Unchanged in July

Tennessee’s unemployment rate was unchanged during the month of July, Tennessee Labor & Workforce Development Commissioner Burns Phillips announced Thursday in a release.

Orgel Group Planning Another Seasonal Beer Garden

If a Memphis beer garden can work in the spring, why not the fall?

Verso to Lay Off 600 in Maine, Kentucky

Verso Corp. is permanently eliminating 300 jobs in Maine and laying off another 300 in Kentucky as it reduces production of coated paper and dried market pulp.

Mayoral Debate Clash Focuses on City Finances

Memphis city government’s financial problems and how those problems happened was the flashpoint for the latest meeting of the top mayoral contenders on the Oct. 8 ballot.

Cohen, Corker Take Stands on Iran Deal

U.S. Rep. Steve Cohen and U.S. Sen. Bob Corker couldn’t have more different positions on the White House’s deal with Iran that comes to Congress in September for debate and a vote.

SPORTS

University of Memphis Secures $24 Million for Athletic Facilities Upgrades

At a Wednesday, Aug. 19, press conference on its campus, the University of Memphis took the next step in its athletic capital campaign in announcing it had 60 percent of the needed funds for new football and men’s basketball practice facilities and that ground will be broken on each this fall.

MSU QB Dak Prescott Learns He Can Be a Target Off Field, Too

The recognition has come, and it has been fun and, well, not so fun.

University of Memphis Knows Time to Shine Is Now

First, there was a video because in 2015 there must always be a video.

LOCAL COLUMNISTS

Poor Performance

OUR POOR KIDS ARE GETTING THE BIRD. During political seasons – that’s pretty much all the time – I’m often reminded of what my first boss once told me, “You know that beautiful, almost iridescent, blue-gray dot in the middle of chicken (crap)? That’s chicken (crap), too.”

Know When To Cut Your Losses at Work

Typically, we think of sunk cost in terms of investing or economics. It’s the concept that money or some other cost you have already lost can’t be recovered. In business, the idea of sunk cost might come in to play when a project has failed. Management eventually decides that no amount of additional work will save the project. It’s best to cut their losses and walk away while they can.

Why China Devalued: Global Oversupply

If I demand a new widget today, a supplier will build one for me. If I later change my mind, the widget will still exist. Perhaps my supplier relied on debt to fund its construction. If so, the supplier now has to find a new source of demand or they must restructure the loan.

REGIONAL

Plan to Dump Megasite Wastewater in Hatchie River Withdrawn

BROWNSVILLE, Tenn. (AP) — A plan to dump millions of gallons of treated wastewater from the Memphis Regional Megasite into the Hatchie River has been withdrawn after a public outcry.

Mississippi Celebrates Literary Heritage With Book Festival

JACKSON, Miss. (AP) — Authors and bibliophiles gather at the state Capitol on Saturday for the first Mississippi Book Festival.

STATEWIDE

Union University Leaves Council Over Same-Sex Marriage

JACKSON, Tenn. (AP) — Union University has withdrawn from the Council for Christian Colleges and Universities after two schools that are members of the organization endorsed same-sex marriage.

Tennessee Officials: New Test Will Better Measure Progress

NASHVILLE, Tenn. (AP) — State education officials said Thursday that new assessments in math and English for students in grades three through 11 will provide a better measurement of their progress and make sure they're on track to succeed after graduation.

REAL ESTATE

US Home Sales Soar in July to Fastest Pace Since 2007

WASHINGTON (AP) — Americans stepped up their home-buying for a third straight month in July, as sales accelerated to the strongest pace in eight years.

Average US Rate on 30-Year Mortgage Eases to 3.93 Pct.

WASHINGTON (AP) — Average long-term U.S. mortgage rates edged lower this week, with the key 30-year loan rate remaining under 4 percent.

NATIONAL BUSINESS

Applications for US Jobless Aid Tick Up to Still-Low 277K

WASHINGTON (AP) — The number of Americans seeking unemployment aid rose slightly last week, yet remained at a low level consistent with a solid job market.

Measure of US Economy's Future Health Slips in July

WASHINGTON (AP) — An index designed to predict the future health of the U.S. economy declined slightly in July yet still pointed to modest growth in the months ahead.

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Blog News, Training & Events
RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 0 312 16,192
MORTGAGES 0 293 18,685
FORECLOSURE NOTICES 0 0 0
BUILDING PERMITS 0 655 33,126
BANKRUPTCIES 0 237 10,737
BUSINESS LICENSES 0 112 5,198
UTILITY CONNECTIONS 0 127 11,344
MARRIAGE LICENSES 0 94 3,867

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The Memphis News: Business, politics, and the public interest.