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VOL. 126 | NO. 167 | Friday, August 26, 2011

Fred’s Reports Higher Profit, Sales

Memphis discount retailer Fred’s Inc. saw its profit and total sales rise slightly in the second quarter, the company reported Thursday, Aug. 25.

Unlocking Lamar

Planners mull ways to improve transportation corridor

The city’s major corridor for moving freight is also the city’s most congested roadway. And since June, state and local transportation and logistics planners have had a study that suggests a set of seven options, most of which would represent major changes for Lamar Avenue between the Mississippi state line and Interstate 240.

Gibson CEO Fires Back Over Federal Raid

In a press conference Thursday that at times touched on themes of class warfare and government overreach, Gibson Guitar chairman and CEO Henry Juszkiewicz struck back against the raid of his company’s factories and offices in Memphis and Nashville by federal agents several days ago.

Local Investors Buy SE Memphis Office Condos

A portfolio of office condominiums in Southeast Memphis have sold to a group of local investors.

Two School Boards Approve Consolidation Court Settlement

The Memphis City Schools board and the Shelby County Schools board each approved the settlement of the schools consolidation lawsuit Thursday, Aug. 25, in separate meetings.

Local Weather
Currently
Memphis, TN
42.0°F
Fair
Wind: South at 8.1 mph
Humidity: 60%

EVENTS

The Gavel Club of Memphis will meet Friday, Aug. 26, at 11:30 a.m. at the Holiday Inn University of Memphis, 3700 Central Ave. Hank Newman of Brother International will speak. For more information, call Bob Gray at 290-5721.

more events »

Memphis Jobless Rate 10.4 Pct. in July

Preliminary figures released by the state of Tennessee Thursday afternoon, Aug. 25, show the Memphis area’s unemployment rate was 10.4 percent in July, down from a revised figure of 10.9 percent in June.

Blakeney Named MAAR’s New Leader

The Memphis Area Association of Realtors board of directors has named Melanie Blakeney as its executive vice president, effective Dec. 1.

School Systems Brace for Rapid Transition

The still-tentative settlement of the most political part of the schools consolidation lawsuit will mean a quick transition for the most critical player in the change – the county school board that becomes the countywide school board in five weeks.

Summit Touts Return of Demand

“Demand is back” was the theme at the ninth annual Southern Lodging Summit held Downtown this week at The Peabody hotel and the Memphis Cook Convention Center.

Girl Scouts Prepare to Celebrate Centennial

In the age of Photoshopped billboard images, teenage breast augmentation and “Toddlers & Tiaras,” the Girls Scouts of America is preparing to celebrate 100 years of countering the latest trends through building girls’ courage, confidence and character.

CEO: Shift in Strategies Necessary for TruGreen

Memphis-based TruGreen lawn care is changing its neighborhood sales strategy as the CEO of parent company, The ServiceMaster Co., continues to talk about the need for the company to improve its performance.

Macon Attributes Success To Civil Rights Struggle

Born in the early 1970s, Danita Macon, director of data administration at the University of Memphis, is a product of the civil rights movement.

LOCAL COLUMNISTS

The Show Must Go On

LIVE APPLAUSE. All are in the cast, all responsible for the experience, and all of us have a lot to show for it.

Federal Grants in Changing Times (Part 1)

Part one of a four-part series Many organizations and institutions have been fortunate to receive federal funding for one or more projects. Some are small, one-year grants, others are large in relation to the size of the organization’s overall budget. Many have been multi-year grants.

STATEWIDE

Tenn. Lawmakers Scrutinize Judiciary Court Once Again

NASHVILLE (AP) – A state legislative committee is planning to meet once again to scrutinize the commission that disciplines Tennessee judges.

State Commissioner Named Chairman for Tech Group

NASHVILLE (AP) – Bill Hagerty, commissioner of Tennessee Economic and Community Development, has been named chairman of the board for the Tennessee Technology Development Corp.

REGIONAL

Delta Authority, SBA Announcing New Partnership

WEST MEMPHIS, Ark. (AP) – The Delta Regional Authority and the Small Business Administration are announcing a new partnership aimed at recruiting financial institutions to the Delta to help businesses in the region.

NATIONAL BUSINESS

Buffett Gives $5 Bln Vote of Confidence to BofA

NEW YORK (AP) – Warren Buffett is coming to the rescue of another fallen giant.

Airlines Begin Canceling Flights as Irene Nears

Airlines began to cancel flights and get planes out of the way as Hurricane Irene barreled toward the U.S. mainland on Thursday.

AP-GfK Poll: Views on Economy, Obama Role Sour

WASHINGTON (AP) – Americans' views on the economy have dimmed this summer. But so far, the growing pessimism doesn't seem to be taking a toll on President Barack Obama's re-election prospects.

OSHA Cites UP for Retaliating Against Workers

OMAHA, Neb. (AP) – Federal authorities say Union Pacific retaliated against three employees who raised safety concerns, so the railroad should pay $615,215 in fines and compensation.

Bloomberg to Pay $990M for Legal Research Company

NEW YORK (AP) – Financial data and news company Bloomberg LP said Thursday that it will pay $990 million for BNA, a publisher of legal, tax and regulatory information.

Without Jobs, Apple Must Show it Can Still Deliver

SAN FRANCISCO (AP) – With Steve Jobs bowing out as CEO, Apple Inc. must persuade investors and consumers that it doesn't need the force behind the iMac, iPod, iPhone and iPad in charge to keep the technology hits coming.

Analysts Raise Estimates on CVS After New Buyback

NEW YORK (AP) – Analysts raised their profit estimates for CVS Caremark Corp. Thursday, a day after the drugstore chain and pharmacy benefits manager said it will buy back another $4 billion in stock.

Low Rates Squeeze Savers and May Hold Back Economy

WASHINGTON (AP) – Super-low interest rates haven't done what they usually do after a recession. They haven't ignited economic growth or revived the home market or persuaded consumers to spend freely again.

Verizon Strike Boosts Unemployment Aid Requests

WASHINGTON (AP) – Thousands of Verizon workers on strike pushed the number of people seeking unemployment benefits last week to its highest level in a month.

REAL ESTATE

Fixed Mortgage Rates Rise From Decades Lows

WASHINGTON (AP) – Fixed mortgage rates edged up this week from their lowest levels in decades. But few have been able to capitalize on them.

Foreclosures Made up 31 Pct. of Home Sales in Q2

WASHINGTON (AP) – Foreclosures made up roughly one-third of all home sales this spring. While that's a smaller share of sales from the previous quarter, it's six times the percentage of foreclosures in a healthy housing market.

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Blog News, Training & Events
RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 82 82 19,655
MORTGAGES 75 75 22,989
FORECLOSURE NOTICES 7 7 8,311
BUILDING PERMITS 138 138 40,167
BANKRUPTCIES 72 72 13,176
BUSINESS LICENSES 9 9 6,146
UTILITY CONNECTIONS 52 52 13,048
MARRIAGE LICENSES 30 30 4,872

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