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VOL. 127 | NO. 164 | Wednesday, August 22, 2012

New York REIT Buys Williams-Sonoma Distribution Center

American Realty Capital Trust III Inc., a New York-based real estate investment trust, has acquired the 1.1 million-square-foot Williams-Sonoma distribution center in Olive Branch for $52.4 million, or $47 per square foot, from a private investor.

Marking History

North Memphis landmark recognized for musical contributions

For years, business owners in a row of four Quonset huts on the north side of Chelsea Avenue near McLean Boulevard have become accustomed to visitors from across the country and around the world stopping by for a look.

Medtronic Q1 Earnings Rise 5 Pct.

Medtronic Inc., the world’s largest medical device maker, Tuesday, Aug. 21, reported its net income rose 5 percent in the fiscal first quarter of 2013, driven by improved sales of products such as drug-coated stents and heart valves.

Council Approves Cut of City Funding For Vehicle Inspections

Memphis City Council members voted Tuesday, Aug. 21, to end city funding for vehicle inspections at the end of June 2013.

Whalum Goes To Court Over August Election

Countywide school board member Kenneth Whalum Jr. filed suit against the Shelby County Election Commission Wednesday, Aug. 22, in the first of what are expected to be two election challenges.

Local Weather
Currently
Memphis, TN
49.0°F
Fair
Wind: North at 11.5 mph
Humidity: 41%

EVENTS

Talk Shoppe will meet Wednesday, Aug. 22, from 9 a.m. to 10 a.m. at the Better Business Bureau, 3693 Tyndale Ave. Cynthia Thompson of HR Professionals of Greater Memphis will speak. Cost is free. Visit talkshoppe.biz.

more events »

Local Mortgage Market Up In July

Spurred by interest rates that look to stay at record lows for the near future, local homebuyers keep coming out of the woodwork.

New Day Coming for Sears Crosstown Urban Village

The historic Sears Crosstown building in Midtown Memphis is being redeveloped as a mixed-used vertical urban village, with nine “founding partners” in local health care, education and arts organizations that have signed on to occupy 600,000 square feet of the total 1.4 million square feet of space.

Medical Providers Excited About Crosstown Potential

The health care partners who’ve committed to having a physical presence in the soon-to-be-redeveloped Sears Crosstown Tower say they’re excited about the opportunities to join forces in promoting health and wellness in the Memphis community.

Delta to End Flights From MEM to Columbia

COLUMBIA, Mo. (AP) – Columbia is about to lose its commercial airline service to Memphis, Tenn.

Aug. 2 Election Results Certified

The clock is running on any Chancery Court lawsuits now that the Shelby County Election Commission has certified the results of the Aug. 2 elections.

Lululemon Athletica to Open in Regalia

Yoga-inspired athletic apparel company Lululemon Athletica Inc. is opening its first Memphis store this week, following more than a year of market due diligence.

MEMPHIS NEWSMAKERS

Gilbert Joins Campbell Clinic As Marketing Director

Chad Gilbert has joined Campbell Clinic as director of marketing. In his new role, Gilbert manages external marketing, advertising and public relations for Campbell’s four Mid-South offices and serves as liaison for the organization, managing several sports medicine partnerships.

LOCAL COLUMNISTS

Changes In Buyer Behavior Critical To Biz Survival

A significant shift in buyer behavior has occurred over the last several years – a shift that has not only changed the very essence of the role of salesperson but how we market to consumers as well. The origin of this shift is three-fold – the role the Internet plays in informing buyers, a new paradigm in group decision-making, and an increasing expectation for a heightened customer buying “experience.”

No Time for Chicken Littles

This is no time to get chicken … As we meet with more and more of the mid-market companies in America, we are astounded at how many of them are hiding under their desk “riding the recession out.” The old “Story of Chicken Little” comes to mind:

NATIONAL BUSINESS

TransUnion: Late Auto-Loan Payments Fall in Q2

LOS ANGELES (AP) – More Americans are making their car payments on time, a trend that has sent the rate of overdue auto loans to the lowest level on records dating back more than a decade.

Holograms Present Celebs With New Afterlife Issues

LOS ANGELES (AP) – When Tupac Shakur rose from the stage in the California desert earlier this year, it was not only a jaw-dropping resurrection, but also the beginning of a new form of live entertainment.

TECHNOLOGY

Thiel Among Early Facebook Investors Selling

NEW YORK (AP) – Peter Thiel, one of Facebook's earliest investors and a member of its board, was among the insiders selling stock in the social network after a lockup expired last week.

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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 23 71 8,375
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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