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VOL. 125 | NO. 187 | Monday, September 27, 2010

Southwest Airlines to Buy AirTran for $1.4B

More change is coming to the airline industry – and likely to the local travel scene – following Monday’s news that Southwest Airlines will buy rival discount carrier AirTran Airways for $1.4 billion.

Weeks of Talks Preceded Merger

The merger of Cadence Financial Corp. into Trustmark Corp., an all-stock deal announced late Wednesday, came to fruition relatively quickly, ending a period of uncertainty and volatility for Cadence and re-iterating Trustmark’s strength.

Added Protection

County Commission considers new whistle-blower rules

Shelby County Commissioners wade into the continuing controversy over the Aug. 5 election results Monday with a resolution to change the standards for protection of whistle-blowers.

Business Leaders Back Consolidation Charter

Several dozen of the best known corporate leaders in the city turned out Friday afternoon to go public with their support of the consolidation charter.

Vascular Access Center Comes to East Memphis

University Vascular Access is a new outpatient center in East Memphis where dialysis patients can receive specialized treatment for complications without having to be admitted to a hospital.

Local Weather
Currently
Memphis, TN
67.0°F
Fair
Wind: from the West at 16.1 gusting to 21.9 mph
Humidity: 44%

EVENTS

The Memphis Bar Association will hold a continuing legal education class Monday from noon to 1 p.m. at Burch, Porter & Johnson PLLC, 130 N. Court Ave. For more information or to register, call 527-3582 or visit www.memphisbar.org.

more events »

Memphis Invest Increases Home Buying Events

With the recent completion of Memphis Invest LLC’s office space expansion for its sister company, Premier Property Management Group, and new implementation of traditional rehab services for those wanting to remodel their home, the family-owned company continues to do the majority of its business with out-of-town investors.

Higgins Takes Long Road to the Bench

Gina Higgins thought 2006 was the year she would run for judge in the once-every-eight-year races known by politicians as the “big ballot.”

Happi-Nappi Finds Niche in ‘Nap Bag’ Business

Peggy Schoggen recognized the quality of Happi-Nappi products after she began washing her grandchildren’s school nap bags on weekends.

Profit in Solving Problems

Management that lets salespeople – or even customers – hold sway on the selling prices of its products could well be killing off chances the business has at being profitable.

GOVERNMENT AGENDA

Shelby County Commission Agenda

The Shelby County Commission will meet Monday at 1:30 p.m. in the Shelby County Administration Building, 160 N. Main St. Click on the meeting icon for a full agenda.

THE MEMPHIS NEWS

Lasting Legacies

Consider the continent as it was when Memphis was founded in 1819. No railroads crisscrossed the land and Tennessee roads would not be paved until after World War I.

Something Old, Something New

This week’s cover story is about Memphis businesses that have been around for a century or more, but it’s also important to take note of the new ideas, projects or initiatives sprouting up around town.

Coordinator Charts Path for City’s Bike, Pedestrian Needs

Kyle Wagenschutz is the new bicycle and pedestrian coordinator for the city of Memphis.

Museum Spotlights Master Metalsmith

The current exhibition on display at the Metal Museum shows that bowls aren’t just for eating breakfast and pewter isn’t only for making faucet handles.

Andrew Michael Kitchen: Where the South Meets Italy

One in an occasional series on the signature dishes of local chefs.

Dolcetto d’Alba From Piedmont A ‘Sweet’ Choice With Light Fare

Back in March, at the Barbera 2010 conference in Piedmont, I tried, among hundreds of other examples, two wines made from the barbera grape by Tenuta Cisa Asinari dei Marchesi di Gresy, to spell out the producer’s full name. Several months later, in Memphis, I encountered other wines from this historic estate as well as having the opportunity to chat with Alberto Cisa Asinari di Gresy, as charming and unassuming a personage as one could wish to meet or desire to emulate. His is the kind of family that can say, “Oh yes, we’ve owned that vineyard since 1797.”

REAL ESTATE

New Home Sales Second Slowest on Record for US

WASHINGTON (AP) – New homes sold at the second-slowest pace on record in August, signaling that the housing market will remain a drag on the economy.

Home Sales on Pace to Finish Year as Bad as 2009

WASHINGTON (AP) – This year's home sales are shaping up to be as dismal as last year, despite cheap home prices and mortgage rates that have fallen to the lowest levels in decades.

Mortgage Study Says Recent Modifications Work Best

NEW YORK (AP) – Homeowners with more recent loan modifications are less likely to default on their payments, a report Friday showed.

NATIONAL BUSINESS

International Paper Wraps $199M Property Sale

MEMPHIS (AP)International Paper Co. said Thursday it has closed a $199 million property sale to Figure 8 Partners LP, an affiliate of Rock Creek Capital.

Target to Start Carrying iPad in October

MINNEAPOLIS (AP) Target Corp. says it will begin carrying six models of Apple Inc.'s iPad, starting at $499.

FYI: New Rules for Debt Settlement Industry

Struggling with credit card bills? If so, you've probably noticed TV or radio ads by companies promising to reduce or eliminate debt. These companies will come under new regulations starting next week.

CVS Caremark Approves 8.75 Cent Dividend

WOONSOCKET, R.I. (AP) – Drugstore operator and pharmacy benefits manager CVS Caremark Corp. says it will pay a dividend of 8.75 cents per share, the same amount paid quarterly since January.

Business Spending on Capital Goods Rises in August

WASHINGTON (AP) – U.S. companies invested last month in computers, communications equipment and machinery, boosting capital goods orders for the third time in four months.

NATIONAL POLITICS

Official Urges Limits to Fed's Emergency Powers

WASHINGTON (AP) – It's something you don't often hear from turf-conscious policymakers: Go ahead, curb our power.

Small Biz, Banks may Spurn Obama's $30 Bln Program

NEW YORK (AP) – President Barack Obama's $30 billion small community business lending program faces one big challenge: many of the community banks and businesses it's supposed to help don't want it.

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Blog News, Training & Events
RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 128 128 17,998
MORTGAGES 155 155 20,990
FORECLOSURE NOTICES 0 0 0
BUILDING PERMITS 149 149 36,765
BANKRUPTCIES 60 60 11,985
BUSINESS LICENSES 19 19 5,696
UTILITY CONNECTIONS 49 49 12,297
MARRIAGE LICENSES 40 40 4,518

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