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VOL. 131 | NO. 190 | Thursday, September 22, 2016

Crosstown Pulls Building Permit for Performing Arts Center

Crosstown Concourse contractor Grinder, Taber & Grinder Inc. has applied for an $8.4 million building permit to begin construction on a new theater and performing arts building as part of the concourse campus.

Pot Decriminalization Nears Final Vote

One of the state’s two largest cities has decriminalized possession of less than a half ounce of marijuana. And the other city set the stage for a final vote on a similar measure next month.

FedEx Working on Drone and Automation Projects – With Caveats

John Zimmer, co-founder and president of the on-demand ride-sharing company Lyft, thinks that in less than a decade private car ownership will essentially have ended in major U.S. cities. Also, that within five years most Lyft trips will take place in self-driving cars.

U of M Gets Economic Boost, W.M. Barr PILOT Approved

The University of Memphis will get a development incentive boost around its campus, a longstanding Memphis-based manufacturer has been granted tax incentives to expand on Presidents Island and a gift-wrap company has received an amendment to its tax incentive that will allow it to add staff.

MIFA Using Three-Year Strategic Plan to Stay on Course

Sally Jones Heinz’s connection to MIFA goes all the way back to her uncle Dr. Paul Tudor Jones, who was pastor of Idlewild Presbyterian Church and one of the nonprofit’s founders 48 years ago.

Local Weather
Currently
Memphis, TN
82.0°F
Partly Cloudy
Wind: from the South at 11.5 gusting to 20.7 mph
Humidity: 67%

EVENTS

Mid-South Association for Financial Professionals will meet Thursday, Sept. 22, at 11:30 a.m. at the University of Memphis Fogelman Executive Center, 330 Innovation Drive. Kevin Bye, senior manager, tax services at EY, will discuss tax and politics. AFP is waiving guest fees for this meeting. Register at midsouthafp.org.

more events »

Last Word: In Charlotte's Shadow, EDGE Action and Elvis TV Bio at Graceland

The Memphis City Council’s final vote next month on pot decriminalization is shaping up to be about more than marijuana. The vote on the ordinance proposed by council member Berlin Boyd is the leading edge of a larger push for changes in the local criminal justice system, according to Boyd.

Fed Keeps Key Rate Unchanged But Hints of Coming Hike

WASHINGTON (AP) – The Federal Reserve is keeping its key interest rate unchanged but signaling that it will likely raise rates before year's end.

Efforts Expanding Locally to Combat Opioid Addiction

The battle against opioid and other prescription pill addictions is gaining traction in parts of Tennessee thanks to efforts from groups like the Memphis Area Prevention Coalition and expanding programs like Count It! Lock It! Drop It!, which recently received a $1.3 million grant from the BlueCross BlueShield of Tennessee Health Foundation.

REAL ESTATE RECAP

Private Equity Firm Pays $13M for Retirement Community

950 Cherry Road -
A Chicago-based private equity fund has purchased the 176-unit Town Village Audubon Park retirement community in East Memphis for $13 million, or $73,864 per unit.

LOCAL COLUMNISTS

Shared Wisdom Starts With Conversation

The drive to the meeting was inspirational. The weather was perfect, the lights were green, and someone even let me in the line of traffic right before it merged to the left. I had a newness of thought as I weighed possible solutions to the problem to be discussed at the meeting. I wondered what insights others would offer to the situation.

The Crooked Path to Durham’s Ouster

State Rep. Kevin Brooks set the tone for Jeremy Durham’s ouster in prayer, of all places. Quoting from Luke, the Cleveland Republican opened the recent extraordinary session of the General Assembly saying, “Heavenly Father, you’re very clear in your word when you say that every valley will be filled, every mountain and hill brought low and the crooked places made straight and the rough places made smooth.

Let’s Hear It for Schenk, Yip and Hack!

I saw in the sports section of my local paper an item that said three golfers named Yip, Hack and Schenk were a threesome on the final day of some tournament. And I thought it was a joke.

MEMPHIS AREA

Airline Flying Memphis-Arkansas Routes Ends Operations

HARRISON, Ark. (AP) – A regional airline that provided flights for three small airports in Arkansas is ceasing operations as it faces bankruptcy liquidation.

Danish Elvis Fan Loses 'Graceland' Trademark Dispute

COPENHAGEN, Denmark (AP) – A court in Denmark has ordered the owner of a museum modeled after Elvis Presley's Graceland Mansion to pay 500,000 kroner ($75,000) in damages to a U.S. company that owns the Graceland trademark.

STATEWIDE

Groups Cross Ideological Lines for Tennessee Criminal Justice Reform

NASHVILLE, Tenn. (AP) – Advocacy and business groups from opposite ends of the political spectrum are joining forces to press for criminal justice reform in Tennessee.

NATIONAL GOVERNMENT

IRS Chief Tells House Panel He Does Not Deserve Impeachment

WASHINGTON (AP) – IRS Commissioner John Koskinen expressed regret to Congress on Wednesday for his agency's past mistreatment of tea party groups, but said he has cooperated with congressional investigators and does not deserve to be impeached.

AUTO INDUSTRY

Tesla Updates Software to Improve Radar

DETROIT (AP) – Tesla Motors customers will get enhanced radar and other features in an over-the-air software update that starts Wednesday night.

U of M Gets Economic Boost, W.M. Barr PILOT Approved

The University of Memphis will get a development incentive boost around its campus, a longstanding Memphis-based manufacturer has been granted tax incentives to expand on Presidents Island and a gift-wrap company has received an amendment to its tax incentive that will allow it to add staff.

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Blog News, Training & Events
RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 95 253 13,695
MORTGAGES 96 261 15,827
FORECLOSURE NOTICES 0 21 2,160
BUILDING PERMITS 250 500 28,258
BANKRUPTCIES 57 178 8,828
BUSINESS LICENSES 31 85 4,650
UTILITY CONNECTIONS 0 60 5,453
MARRIAGE LICENSES 9 57 2,951

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