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VOL. 126 | NO. 173 | Tuesday, September 6, 2011

International Paper Buys Temple-Inland

International Paper, headquartered in Memphis, will buy Temple-Inland Inc. of Austin, Texas in a $4.3 billion deal announced Tuesday, Sept. 6.

Mississippi Muscle

Counties south of state line remain top industrial submarket

Since the 1950s, Memphis has been building industrial space for users to benefit from the city’s transportation amenities, which now includes five Class 1 railroads, several interstate highways, the nation’s fourth-busiest inland waterway port and the world’s second-largest cargo airport.

Council Could Consider Schools Settlement

Memphis City Council members take up the schools consolidation lawsuit settlement at their Tuesday, Sept. 6 sessions.

Kroger Buys Eight Schnucks To Reopen

Eight Memphis area Schnucks supermarkets will become Kroger stores in a purchase of the rival stores announced Friday, Sept. 2.

Feds Sue 17 Major U.S. Banks, including First Tenn. Parent

The federal agency that oversees the government-sponsored mortgage entities Fannie Mae and Freddie Mac has filed suit seeking billions of dollars in compensation from several major U.S. banks, including the parent company of First Tennessee Bank.

Local Weather
Currently
Memphis, TN
74.0°F
A Few Clouds
Wind: South at 6.9 mph
Humidity: 91%

EVENTS

The Daily News’ offices will be closed Monday, Sept. 5, in observance of Labor Day. Offices reopen at 8:30 a.m. Tuesday, Sept. 6, and will remain open during normal business hours.

more events »

Criminal Appeals Court Judge McLin Dies

A memorial service has been set Friday, Sept. 9, for State Court of Criminal Appeals Judge J.C. McLin of Memphis.

Mueller Industries Reaches Deal With Leucadia

MEMPHIS (AP) Mueller Industries Inc. said Friday that holding company Leucadia National Corp. agreed to limit its stake in the metal parts maker to 27.5 percent and named two directors to Mueller's board.

Owners, Brokers Work Harder To Seal Deals

Whether it’s a new lease or a renewal, industrial and office deal cycles are taking more time than normal due to fear, indecisiveness, doubt and a higher level of scrutiny in the negotiating process.

Murchison Combines Passion, Fun in Career at CBRE

The phrase “There’s no place like home” rings true for native Memphian Brad Murchison. As a major player in the CB Richard Ellis industrial leasing team, Murchison finds Memphis to be a perfect fit for his career choice.

Biggest Local Banks Repay TARP

The two biggest Memphis banks that got emergency capital from the federal government in 2008 as part of a dramatic bank industry rescue have now repaid that money and exited the program.

Children’s Museum’s Reputation Built on Originality

Dr. Seuss said sometimes the questions are complicated and the answers are simple, and the secret to the continued success of the Children’s Museum of Memphis (CMOM) seems to lie in the facility’s simple willingness to take heed of its visitors’ suggestions.

Haslam Picks Cates for Consolidation Group

Tennessee Gov. Bill Haslam has picked Memphis philanthropist and business leader Staley Cates as his nominee for the 21-member schools consolidation planning commission.

Universal Commercial Built On Deep Family Legacy

For some people, the prospect of working with one’s brother, wife and mother on a daily basis would be a less than enticing proposition.

Villages at Harrison Creek Apts. Sell out of Foreclosure

3855 Jackson Ave., Memphis, TN 38128, Sale Amount: $3.9 Million -
The Villages at Harrison Creek apartment complex at 3855 Jackson Ave. in Raleigh sold Aug. 26 for $3.9 million in a substitute trustee’s deed following a foreclosure of the property.

GOVERNMENT AGENDA

Memphis City Council Agenda

The Memphis City Council will meet Tuesday, Sept. 6, at 3:30 p.m. in the Council chambers in City Hall, 125 N. Main St. Click on the meeting icon for a full agenda.

LOCAL COLUMNISTS

Men Untied Over Ties

Seems some businessmen are abandoning ties. I think it is a mistake. The look of no tie and open collar looks unprofessional and reduces confidence. It looks like something is missing – which may be your image.

Small Actions Start Movements

Last week we explored how you can transform a football watch party with friends and family into an experience that has a higher cause and raises money for your favorite nonprofit. This week let us exemplify how one person or company can start taking action with small steps to impact the community – steps which culminate over time to spark a movement.

Design Solutions

Recently, I went on a relaxing cruise up and down the Mississippi River with friends. The river has a way of helping you relax and think about things. As we cruised down the river, I thought how great it is to know someone who owns a boat. You’ve all heard the old pearl of wisdom, “What is better than owning a boat? Having a friend who owns a boat.”

THE MEMPHIS NEWS

Outward Sound

Open-air concert venues pack calendar with diverse offerings

Over the next several months, Memphis music lovers will be outdoors frequently in anticipation of good company, a relaxing evening and great tunes.

Memphis is Music, Indoors or Outdoors

In a city with extreme weather conditions that change radically and rapidly, it shouldn’t come as a surprise that Memphis musicians and those who include the city on their tour schedule increasingly find themselves making music in the elements.

Outflix Brings GLBT Issues to Screen

Now in its 14th year, the Outflix Film Festival, which features gay, lesbian, bisexual, and transgender films from around the world, suddenly finds itself in an unusual position – the mainstream.

Venture Off Kid’s Menu Every Once in a While

So, you’re in the restaurant, the family and the kids. Everybody is behaving well, speaking in “inside voices,” including the adults. So far, so good, but the point is, what is everybody going to eat? The kids take one peek at the menu and look as if they’re beginning to tune up: “Mom, Dad, we hate tilapia with Southwestern succotash and mango-jicama relish!” Mom says, hopefully, “Look, Dick, look, Jane, there’s a kid’s menu! You love kid’s menus!” Signaling the helpful waiter for another martini.

Beaujolais Cru Wine Remains Good Choice

The first Beaujolais Cru wine I ever tasted was in 1984 at La Tourelle for my birthday dinner. It was the Georges Duboeuf Juliénas 1983, and it was excellent with rabbit fricassée. (I still have those notes and the wine label, pasted in an old album.) A Cru, in Beaujolais, is actually a village or commune that’s allowed to put its name on the label; the 10 Crus, located on granite hillsides, represent the highest level of quality, at least theoretically, in the region. Below that category are Beaujolais-Villages and then straight Beaujolais. The grape is gamay, or to give it its formal moniker, gamay noir à jus blanc.

STATEWIDE

Consumer Officials Warn Against Ticket Scammers

NASHVILLE (AP) – With the start of football season comes a warning from Tennessee consumer officials: Beware of scammers.

NATIONAL BUSINESS

Employers Add No Net Jobs in Aug.; Rate Unchanged

WASHINGTON (AP) – Employers stopped adding jobs in August, an alarming setback for an economy that has struggled to grow and might be at risk of another recession.

Retail Association Spent $770,000 Lobbying in Q2

WASHINGTON (AP) – The Retail Industry Leaders Association spent $770,000 in the second quarter to lobby the federal government on a variety of issues including consumer payment protection, Chinese currency valuation and other matters, according to a recent disclosure report.

NATIONAL POLITICS

White House Explains Efforts to Block AT&T, T-Mobile Deal

WASHINGTON (AP) – The Obama administration has explained its effort to block AT&T's purchase of T-Mobile USA by saying it will fight mergers that would reduce competition and hurt consumers.

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Blog News, Training & Events
RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 0 140 16,020
MORTGAGES 0 145 18,537
FORECLOSURE NOTICES 0 0 0
BUILDING PERMITS 0 323 32,794
BANKRUPTCIES 0 121 10,621
BUSINESS LICENSES 0 58 5,144
UTILITY CONNECTIONS 0 90 11,307
MARRIAGE LICENSES 0 60 3,833

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