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VOL. 126 | NO. 183 | Tuesday, September 20, 2011

AutoZone Sales, Profits Break Records

Memphis-based AutoZone Inc., the largest auto parts retail chain in the U.S., delivered fiscal fourth quarter results Tuesday, Sept. 20, that included some record-breaking milestones and exceeded Wall Street analyst expectations.

Homeless Reduction

Event highlights effort to reduce Memphis homeless population

The end of this month will mark the first three months of the new local effort with a goal of ending homelessness in the next 10 years.

Wright Medical Names New CEO

Just days after Wright Medical Group Inc. announced it would cut its workforce by 6 percent, the Arlington-based maker of orthopedic medical devices on Monday, Sept. 19, announced Robert J. Palmisano will serve as its new president and CEO.

Boyle Fund Buys Alabama Retail Center

Midsouth Capital Fund I LLC – a fund formed by Memphis-based Boyle Investment Co. in late 2010 – has made its first acquisition in central Alabama with the $13.4 million purchase of Riverchase Village shopping center in Birmingham from Phillips Edison.

Council Takes Closer Look at Dollar Signs

Memphis City Council members could vote Tuesday, Sept. 20, to add another item to the Nov. 8, 2012, election ballot topped by the presidential general election.

Local Weather
Memphis, TN
Mostly Cloudy
Wind: South at 4.6 mph
Humidity: 74%


The Small Business Chamber will continue its Building Better Business Breakfast Series with John Churchill speaking on the topic “Essential Components of a Leader” Tuesday, Sept. 20, from 7:30 a.m. to 9 a.m. at the Better Business Bureau, 3693 Tyndale Drive. For more information, call Sally Nancy Crawford at 757-8627.

more events »

Feds Seize Flea Market

After they shut it down in June, law enforcement agents seized 153,634 counterfeit items from the now-defunct flea market that operated at 4233 S. Third St.

Early Voting Off to Modest Start

The first full week of early voting in advance of the Oct. 6 Memphis elections got a push with 1,684 citizens casting ballots on Friday, Sept. 16’s first day of the early voting period.

Cash Explains Reform Efforts to Republicans

Memphis City Schools Superintendent Dr. Kriner Cash says two public school systems in Shelby County competing against one another and being compared to each other is a “false dichotomy.”

New York Co. Buys Medical Office Buildings

1333 Poplar Ave., Memphis, TN 38104, Sale Amount: $2.9 million -
The New York-based limited liability company ARC RNMPHTN001 LLC has bought a medical office building at 1333 Poplar Ave. from St. Louis-based BanBan Midtown Memphis LLC for $2.9 million.

AutoZone Caps a ‘Record-Breaking Year’

AutoZone Tuesday, Sept. 20, reported quarterly results that cap what the company said is a “record-breaking” year, the same week the auto parts retailer is holding its 2012 national sales meeting here.


Memphis City Council Agenda

The Memphis City Council will meet Tuesday, Sept. 20, at 3:30 p.m. in the Council chambers in City Hall, 125 N. Main St.


The Coolidge Effect And Your Business

OK, I was minding my own business this week, leisurely reading my latest issue of Scientific American Mind magazine – not thinking about sex. Then I ran across an article titled “A Tale of Two Rodents.” It was actually the subtitle that grabbed my attention: “Rats teach a neuroscientist lessons of love – or at least sex.”

Sometimes Survival Feels Like a Rally

What Goes Down Pessimism gets old. After running from shadows for the last few weeks, markets turned last week and faced their fears. The news wasn’t good, but it was good enough to cheer a market suffering from “Armageddon hypochondria.” At this point of pessimism, survival can spark a rally. For a ringside seat to this shadowboxing match, observe the movements in the European Financial ETF.


Tennessee Medical Company Expanding Headquarters

NASHVILLE (AP) – A medical company is expanding its corporate headquarters in Franklin, Tenn., to create more than 260 jobs over three years.

Website Helps Uninsured With Medical Information

CHATTANOOGA (AP) – A new website allows the more than 900,000 Tennesseans without health insurance to get medical information and search for the nearest clinic.


Bernanke is Tolerating Dissent but Pushing Past It

WASHINGTON (AP) – For someone known as a consensus builder, Federal Reserve Chairman Ben Bernanke sure generates – and shrugs off – a lot of dissent.

Fidelity Expands Low-Cost Index Mutual Fund Lineup

BOSTON (AP) – Fidelity Investments is opening five stock mutual funds that seek to keep investor costs low by passively tracking stock indexes, rather than relying on professional managers to pick investments.

Last Borders Shoppers Wistful, Looking for Deals

NEW YORK (AP) – The scene this weekend at the last of the remaining Borders bookstores to close was more like a memorial service than a funeral. Shoppers reminisced fondly about their beloved bookseller rather than grieve its loss.

Netflix Separates its DVD, Streaming Businesses

NEW YORK (AP) Netflix Inc. is separating its DVD-by-mail business from the online movie streaming service it sees as the future of entertainment consumption.


Obama Endorses Ending 1 Day of Mail Delivery

WASHINGTON (AP) – President Barack Obama said Monday the U.S. Postal Service should be allowed to reduce mail delivery to five-days-a-week to help cut its massive losses.

New Government Fees Pepper Obama Deficit Plan

WASHINGTON (AP) – It's not just millionaires who'd pay more under President Barack Obama's latest plan to combat the deficit.

GOP-Led States Change Voting Rules Ahead of 2012

COLUMBUS, Ohio (AP) – After years of expanding when and how people can vote, state legislatures now under new Republican control are moving to trim early voting days, beef up identification requirements and put new restrictions on how voters are notified about absentee ballots.


US Mortgage Finance Head: Shift Risk From Treasury

RALEIGH, N.C. (AP) – Government-controlled mortgage buyers Fannie Mae and Freddie Mac may reduce taxpayer risk by requiring more mortgage insurance from borrowers and charging lenders higher fees, steps that could increase borrowing costs, the head of their government caretaker agency said Monday.

US Home Builder Outlook Worsens in September

WASHINGTON (AP) – The U.S. homebuilders' outlook worsened in September, as foreclosures and anxious buyers hurt construction and sales activity.

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Blog News, Training & Events
PROPERTY SALES 83 188 9,757
MORTGAGES 100 182 11,496
BUILDING PERMITS 194 328 20,638
BANKRUPTCIES 61 119 6,556

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