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VOL. 126 | NO. 120 | Tuesday, June 21, 2011

Wharton to Present New Budget to Council

Memphis City Council members will try again Tuesday, June 21, to approve a city budget for the fiscal year that begins July 1.

Reading Celebration

Community celebrates Central Library’s 10th anniversary

The Benjamin L. Hooks Central Library Saturday celebrated its 10th anniversary with a family-friendly blowout bash featuring artistic performances and words of support and encouragement from community leaders.

Mays Rules Council Attorney to Depose State Education Official

The schools consolidation lawsuit will not go to trial.

Crye-Leike to Close Midtown Branch

Crye-Leike Realtors Inc. has announced it will close its Midtown office by mid-July in efforts to cope with depressed market conditions and improve operating efficiencies.

Commission Balances County Budget With No Tax Hike

Shelby County Commissioners approved a balanced budget Monday, June 20, and approved on the second of three readings an ordinance that keeps the county property tax rate at $4.02.

Local Weather
Memphis, TN
Partly Cloudy
Wind: South at 3.5 mph
Humidity: 96%


The Levitt Shell will hold free concerts as part of its summer kids concert series Tuesday, June 21, at 10:30 a.m. and 7 p.m. at the Levitt Shell in Overton Park, 1930 Poplar Ave. The New Ballet Ensemble will perform.

more events »

Startup Creates QR App for Loyalty Cards

A new mobile application from a Memphis tech startup aims to replace the loyalty cards that consumers keep stuffed in their wallets in the hopes of discounts and freebies down the line with something more convenient – and digital.

Barbic Takes Charge of 4 City Schools

The first head of Tennessee’s new achievement school district starts Aug. 1 with four Memphis schools in his five-school district.

MAA Targets New Acquisitions

Seventeen years ago, when Mid-America Apartment Communities became publicly traded on the New York Stock Exchange, it was among 34 apartment real estate investment trusts.

Lynnfield Place Apartments Sell for $22.4 Million

1400 Lynnfield Road, Memphis, TN 38119, Sale Amount: $22.4 million -
Lynnfield Place Apartments, on the east side of Lynnfield Road about halfway between Park Avenue to the north and Quince Road to the south, has sold for $22.4 million.


The Grecian Formula

To use a well-worn analogy, the perceived risks of a Greek default resemble the risks of a Lehman default. When Lehman imploded, marketplace confidence collapsed, interbank lending froze, bank balance sheets shrank, violating capital covenants, leading to the rapid insolvency of a number of large-scale financial institutions.

The Lesson of Orange Barrels

Should you continue working on your masterful multitasker skills, or should you plod along focusing on one thing at a time? I’ve got to admit, claiming to be a masterful multitasker sounds much more exciting and glamorous than being a plodder. However, if increased productivity is more important to you than glamour, you might want to at least consider the lessons of the orange barrels.


Memphis City Council Agenda

The Memphis City Council will meet today 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.


New Green Jail Opening in Nashville

NASHVILLE (AP) – A new detention center being built to house female inmates in Nashville will be Tennessee's first green jail.

German Radioactive Waste Approved for Tenn.

OAK RIDGE, Tenn. (AP) – Federal authorities have approved licenses allowing up to 1,000 tons of low-level radioactive waste from Germany to be brought to Oak Ridge, Tenn., for incineration.

Attorney: New TN Law Voids Anti-Bullying Policies

NASHVILLE (AP) – A lawsuit filed in Nashville challenging a new state law says the legislation voids school board policies that protect gay and lesbian students from bullying and harassment, but the law's sponsor disagrees.


Casino Closures Take Chunk Out of May Winnings

Flooding along the Mississippi River took a chunk out of Mississippi's state-licensed casino winnings in May as well as state and local government tax coffers.

I-269 Ground-Breaking Set for Thursday

BYHALIA, Miss. (AP) – Mississippi and Tennessee officials will be on hand Thursday for a ground-breaking that will signal the start of work on Interstate 269.


Internet Minders OK Vast Expansion of Domain Names

SINGAPORE (AP) – Internet minders voted Monday to allow virtually unlimited new domain names based on themes as varied as company brands, entertainment and political causes, in the system's biggest shake-up since it started 26 years ago.

Borders Says Sale Likely by End of July

NEW YORK (AP)Borders Group Inc. hopes to name a bidder by July 1 and sell itself by the end of that month, according to bankruptcy court filings. Forty stores previously targeted for closing are also getting a temporary reprieve.

New J.C. Penney CEO Will Ease Into CEO Job

PLANO, Texas (AP) – J.C. Penney says its newly designated CEO from Apple won't assume the job's full duties until February, even though he takes the title in November.

Poll: Most Consumers Short on Emergency Savings

CHICAGO (AP) – Even after the jolt of the Great Recession, a new study finds that most Americans are not financially prepared for an emergency.

Penney's Shopping Experience Could be Transformed

NEW YORK (AP) – Imagine the possibilities of J.C. Penney in the future: An iPad enables one shopper to mix and match shirts and slacks without having to undress. A teen sends a mobile photo of a skirt to her father, who pays for it without leaving home by using his smartphone.

Wave of Lawsuits Over Seats Hit Retail Stores

SAN FRANCISCO (AP) – Retail store operators may want to sit down for this one – if they can find a chair.


Europe Debt Crisis Shadows Fed Meeting on Economy

WASHINGTON (AP) – If the U.S. economic slowdown weren't enough to deal with, the Federal Reserve this week must consider a new threat: a resurgent European debt crisis that could imperil the global economy.

Court Limits Gov't Employees' Speech Rights

WASHINGTON (AP) – The Supreme Court has limited the First Amendment right of government employees, saying a police chief cannot sue over employer retaliation that came after he spoke out on a pay matter.

Supreme Court Limits Wal-Mart Sex Bias Case

WASHINGTON (AP) – The Supreme Court on Monday blocked a massive sex discrimination lawsuit against Wal-Mart on behalf of female employees in a decision that makes it harder to mount large-scale bias claims against the biggest U.S. companies.


Walgreen 1Q Lobbying Costs Grow to $530,000

NEW YORK (AP) – Drugstore operator Walgreen Co. increased its lobbying activity during the first quarter, and spent $530,000 as it lobbied Congress on health care issues.

CVS Caremark Spent $2.2M on Lobbying in Q1

NEW YORK (AP) – Drugstore operator and pharmacy benefits manager CVS Caremark Corp. spent $2.2 million in the first quarter as it lobbied the federal government on issues related to health care reform and its business model.

FDA Plan Aims to Increase Import Safety

WASHINGTON (AP) – U.S. food and drug regulators would share more information with their foreign counterparts as part of a multifaceted strategy to police the safety of millions of imported goods.

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PROPERTY SALES 80 401 13,843
MORTGAGES 99 439 16,005
BUILDING PERMITS 233 998 28,755
BANKRUPTCIES 49 276 8,926

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