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VOL. 125 | NO. 179 | Wednesday, September 15, 2010

Rocky Mountain Chocolate Factory Joins Departing Peabody Place Businesses

After nine years, the Peabody Place retail center tenant that sold treats such as caramel apples and all manner of chocolate sweets has closed its doors.

Boyle Donates 290 Acres to Wolf River Conservancy

A forested tract of land along the Wolf River once slated for development has been spared the chainsaws and will instead be set aside as a nature preserve.

Outside the Box

Entrepreneurs get creative during tough times

The recession has proven to be a time of deep-seated uncertainty among business owners and stubbornly high unemployment that’s crippling consumer spending.

SoFo Hotel Awarded 20-Year Tax Freeze

The Center City Revenue Finance Corp. has awarded a tax freeze to developers planning an 11-story, roughly 300-room hotel across from FedExForum that will save the project more than $15 million in taxes.

Council Approval of MCS Budget Comes With Strings

The Memphis City Council approved the Memphis City Schools (MCS) system’s $891.7 million operating budget Tuesday for the 2010-2011 fiscal and school year.

Neelys Bring Down-Home Style to Tunica

It’s an age-old argument, and Pat and Gina Neely know it well.

World Trade Club Honors New Orleans

Two signature events for the Memphis World Trade Club are approaching, both showcasing the Port of New Orleans, one of Memphis’ key trading partners.

Rhodes Examines Katrina’s Impact On Fifth Anniversary

Photographer Aric Mayer spends a lot of his time thinking about the ways in which the larger events of nature overlap with those of civilization.

County Commission Settles in for Partisan Tenure

The new Shelby County Commission will settle down a bit as more time passes. But the 13-member body with six new members will probably remain more partisan than its predecessors of the last four years.

Memphis Area Teachers’ Credit Union Appoints Weickenand CEO

Daniel Weickenand has been appointed chief executive officer of Memphis Area Teachers’ Credit Union. Weickenand’s appointment follows a year-long, nationwide executive search.

Stimulating Spending Confidence

Ready … Fire … Aim … Stimulus

HEALTH CARE

Survey: Cost of Health Insurance Claims to Rise

INDIANAPOLIS (AP) – The costs that dictate employer-provided health insurance plans will climb more than 10 percent within the next 12 months, and financially pressured companies may pass more of this increase along to their workers through next year's benefits plans, according to an Aon Consulting report.

NATIONAL BUSINESS

August Retail Sales up 0.4 Pct., Best in 5 Months

WASHINGTON (AP) – Retail sales rose in August by the largest amount in five months, adding to evidence that a late spring economic swoon was temporary and not the start of another recession.

Kroger’s Q2 Net Income, Revenue Rise

CINCINNATI (AP)Kroger Co.’s net income and revenue rose in its second quarter, as cost-cutting and efforts to build customer loyalty against tough competition boosted results at the nation’s largest traditional grocer.

AP-CNBC Poll: Investors Wary of Stock Trading

WASHINGTON (AP) – Wild gyrations on Wall Street have made U.S investors leery of buying individual stocks and skeptical that the market is a fair place to park their money.

Nucor Sees Q3 Earnings Down From 2nd Quarter

CHARLOTTE, N.C. (AP)Steelmaker Nucor Corp. said Tuesday its third-quarter earnings will be down significantly from the second quarter due to higher scrap costs and the inability to pass along these price increases to customers.

NATIONAL POLITICS

Small Business Credit Measure Clears Senate Hurdle

WASHINGTON (AP) – In a win for President Barack Obama and his political allies, Senate Democrats on Tuesday won a crucial vote to clear the way for a bill to create a $30 billion government fund to help open up lending for credit-starved small businesses.

Obama Could Name Warren Interim Consumer Head

WASHINGTON (AP) — As President Barack Obama looks for someone to head a new consumer protection bureau, he could name Elizabeth Warren, the popular but polarizing consumer advocate, on an interim basis, a move that would allow her to avoid a potentially contentious Senate confirmation hearing.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 89 344 19,573
MORTGAGES 110 422 22,914
FORECLOSURE NOTICES 2 8,305 8,305
BUILDING PERMITS 207 838 40,029
BANKRUPTCIES 60 356 13,104
BUSINESS LICENSES 21 194 6,137
UTILITY CONNECTIONS 30 147 12,996
MARRIAGE LICENSES 15 65 4,842

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