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VOL. 126 | NO. 169 | Tuesday, August 30, 2011

Campaigns Heat Up as Election Nears

Those running in the Oct. 6 city elections were getting signs up the weekend before the Labor Day weekend and preparing for the sprint to early voting, which begins Sept. 16, and Election Day.

Rollin’ on the River

City’s waterfront enjoying flurry of steamboat, building activity

With the announcement that two grand steamboats will soon begin trolling the Mighty Mississippi past Memphis – one of which will make the city its home port – the last few weeks have brought news for the city’s riverfront that’s definitely made some waves.

County Commission Approves Schools Settlement

The Shelby County Commission has approved the settlement of the schools consolidation case and set the process for selecting seven members of a new countywide school board at its Sept. 12 meeting.

Housing Group Brings Mission To West Tenn.

The Tennessee Affordable Housing Coalition, an advocacy group that’s goal is to promote and improve the availability of affordable housing, has been meeting quarterly in Nashville for the past two years.

Racism Strengthened Birch’s Resolve to Excel in Law

Funeral services for Tennessee Supreme Court Justice Adolpho A. Birch Jr. are Tuesday, Aug. 30, in Nashville.

Local Weather
Currently
Memphis, TN
43.0°F
A Few Clouds
Wind: South at 4.6 mph
Humidity: 51%

EVENTS

The Memphis Rotary Club will meet Tuesday, Aug. 30, at noon at the University Club of Memphis, 1346 Central Ave. Nancy Williams, executive director of the Memphis Child Advocacy Center, will speak. Cost is $18 per person. For reservations, email Taylor Hughes at taylor@memphisrotary.org.

more events »

Fundraisers Rappel Tower for Special Olympics

In one of the city’s most unique fundraising events, 64 brave souls scaled the exterior of the 23-story i-bank Tower (formerly White Station Tower) in East Memphis Friday, Aug. 26, and Saturday, Aug. 27, for Over the Edge, a high-thrills fundraiser for Special Olympics of Greater Memphis.

Station Brings Memphis Tunes to Virtual Airwaves

At first glance, it looks like any home office anywhere: two flat screen computer monitors with towers beneath the desk, a coffee pot to one side and a black-and-white cat that desperately wants to be let out.

Brentwood Place Apartments Sells for $8.5 Million

1835 Sycamore View Road, Memphis, TN 38135, Sale Amount: $8.5 million -
Slidell, La.-based Southern Breeze LLC has bought the Brentwood Place Apartments complex at 1835 Sycamore View Road from Grant Investment LLC for $8.5 million.

LOCAL COLUMNISTS

Three is the Magic Number For Sales

Three is an interesting number. It is a number that comes up quite often in life. There are the Three Bears, the Three Little Pigs, the Three Stooges, the Three Musketeers, the Three Blind Mice, the Three Laws of Robotics (for science fiction/Isaac Asimov fan) and then there’s the big three in school: reading, writing and arithmetic. The list goes on and on and on.

A Primer on Recessionary Market Behavior

Counterpoint A few positive countertrend economic data points, a big Buffet Bank of America buy and a Bernanke bounce inspired markets last week, moving the S&P 500 higher by over 4 percent. The durability of the move warrants skepticism, but the rally appeared amidst oppressive pessimism. Who’s buying?

MEMPHIS AREA

Memphis to Open Athletic Hall of Fame Tuesday

MEMPHIS (AP) – The Penny Hardaway/University of Memphis Athletic Hall of Fame will open Tuesday.

STATEWIDE

Tenn. Lawmaker Defends New Role as Labor President

NASHVILLE (AP) – A Democratic state lawmaker is shrugging off Republican attacks over his new position as leader of the state AFL-CIO.

Census: Fewer Tenn. Kids Living in Married Homes

NASHVILLE (AP) – Fewer Tennessee children live in homes with married parents and more children are living with a single parent or with a grandparent compared to a decade ago, newly released census data shows.

Tennessee Legislators Make Summer Trip to China

NASHVILLE – The organizer of a trip by 15 state legislators to China this summer says he returned with a "verbal commitment" from Chinese officials to match up to $5 million in state money for establishing educational ties between the nation and Tennessee.

REGIONAL

Arkansas-Based Yarnell's Ice Cream Files Bankruptcy

SEARCY, Ark. (AP)Yarnell's Ice Cream Co. filed for Chapter 7 bankruptcy on Friday, but the development doesn't necessarily signal the end of the last locally-owned ice cream producer in Arkansas.

NATIONAL BUSINESS

Bank of America Sells Half of its China Bank Stake

NEW YORK (AP) – Bank of America Corp. is selling half of its stake in China Construction Bank Corp. to raise cash and shore up its capital base.

Consumer Spending Rebounds, Rose 0.8 Pct. in July

WASHINGTON (AP) – Consumer spending grew in July by 0.8 percent, the largest amount in five months. That followed a decline in June and helped ease fears that the U.S. economy is on the verge of another recession.

NATIONAL POLITICS

House GOP to Spike Rules as Part of Jobs Agenda

WASHINGTON (AP) – The House Republican agenda this fall will focus on repealing environmental and labor regulations that GOP lawmakers say are driving up the cost of doing business and discouraging employers from hiring new workers.

Obama Completes Economy Team Ahead of Jobs Speech

WASHINGTON (AP) – President Barack Obama tapped labor economist Alan Krueger for a top administration post Monday as the White House scrambles for solutions to repair an ailing U.S. economy ahead of the 2012 election.

REAL ESTATE

Contracts to Buy Homes Fell 1.3 Percent in July

WASHINGTON (AP) – The number of people who signed contracts to buy homes fell in July, further evidence that the depressed housing market remains a drag on the economy.

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Blog News, Training & Events
RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 86 393 21,159
MORTGAGES 94 424 24,785
FORECLOSURE NOTICES 0 93 8,703
BUILDING PERMITS 173 1,010 43,347
BANKRUPTCIES 52 292 14,194
BUSINESS LICENSES 15 90 6,491
UTILITY CONNECTIONS 28 167 13,678
MARRIAGE LICENSES 12 89 5,158

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