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VOL. 126 | NO. 99 | Friday, May 20, 2011

Aid Sought in DeWitt Spain Flooding

Memphis International Airport officials have insurance and are talking to the state of Tennessee about paying perhaps as much as 90 percent of the cost from damages to General DeWitt Spain Airport in Frayser.

Tunica Recovery

Gaming economy breathes sigh of relief as casinos begin to reopen

Two weeks after rising Mississippi River floodwaters forced a mandatory closure of all of Tunica County’s nine casinos, the area is doing its best to recoup.

Ambulance Co. Signs New Lease, Ups Space

A Nashville-based health care company is expanding its Memphis presence. First Call Ambulance Services LLC has signed a three-year, 13,500-square-foot lease at 5155 Wilfong Road, more than doubling its existing space on Federal Avenue.

Gift Helps St. George’s Launch Giving Society

Sometimes a phone call out of the blue changes everything for the better. An unexpected six-figure bequest by a virtually unknown donor will provide scholarships for St. George’s Independent School students.

Cookers as Important as ’Cue at Metal Museum Event

Dry or wet, shoulder or rib, Memphis is known the world over for its pork barbecue. Within the metal arts world, the Bluff City is also recognized for having one of the only institutions devoted entirely to metalwork, the Metal Museum.

Local Weather
Currently
Memphis, TN
84.0°F
Mostly Cloudy
Wind: Calm mph
Humidity: 85%

EVENTS

Rotary Club of Memphis Central will meet Friday from 11:45 to 1 p.m. at the Holiday Inn, University of Memphis. Tracy Chism will speak about the Gift of Life program, which provides heart surgeries to children in 3rd world countries. $20 non-members. RSVP to Karen Shea, 683-9099.

more events »

IDB Grants Mimeo 8-Year PILOT

The Memphis-Shelby County Industrial Development Board has approved an eight-year payment-in-lieu-of-taxes (PILOT) agreement for Mimeo.com, the digital on-demand Memphis printing company.

School Consolidation Attorneys Meet Friday

All sides in the schools consolidation lawsuit meet in Memphis federal court Friday to work out a quicker resolution of the lawsuit filed in February.

‘Innovation Conference’ Comes to U of M

The University of Memphis Saturday will host some of the city’s most dynamic, innovative dreamers, thinkers and doers during TEDx Memphis 2011.

Crum Wins Entrepreneur Of the Year Award

After growing up with a family in the fabric industry, Kelly Crum, owner and president of American Clothing Express Inc., decided to create his own wholesale business in 1997. His efforts were recognized recently, when Crum received the 2011 Entrepreneur of the Year Award, presented by the Bartlett Area Chamber of Commerce.

High Water, Tall Tales

Truth drowns in high water. Katie Couric told me our daughter was underwater on Mud Island. Wolf Blitzer cut to his man in Memphis, up to his armpits in the Mississippi, giving us the impression that the entire city might be sucking river by morning. National networks reported that the river was (pick one) 4 or 3.4 or 5 or 3 miles wide at Memphis and that it was normally a half-mile or about a mile or only a mile or about half that and that hundreds or thousands or whole neighborhoods or square miles were evacuated or leaving or fleeing for safety or watching their dreams sink or their lives go under.

The Power Of Local Volunteers

From time to time we seek to share what we have learned from Mel’s 25 years with the United Negro College Fund (UNCF) and his work developing and producing the Lou Rawls UNCF Telethon. In this column, we focus on the impact that local volunteers – and local campaigns – have on the fundraising of national organizations.

THE MEMPHIS NEWS

Blank Palette

Developers ponder Sears Crosstown building’s future

When best-selling author Richard Florida visited Memphis recently, he spelled out to a room full of artists the formula for building a city’s creative class – attract, retain and engage talent.

Rejuvenating Sears Crosstown Building Needs Civic Vision

When it opened in 1927, the Sears Crosstown building employed more than 1,000 people and drew shoppers from at least three states to a store that sold everything from candy to horse harnesses to homebuilding materials.

Exhibit Seeks New Vision of HIV/AIDS

A photographic portrait exhibition at the Church Health Center aims to alter the vision of those who see it from 20/20 to a new kind of perfect.

Wine Dinners Designed to Get People in the Door

Nearly every week in Memphis – and in most American cities with a significant population of wine-drinkers – a few restaurants hold wine dinners that feature a special menu, carefully selected wines and perhaps a winemaker or winery owner to present their products. These events are marketed as unique opportunities to get better acquainted with chefs and their creativity and with wines that perhaps diners would not otherwise encounter.

Celebrate MIM with Strong Belgian Ales

The Memphis in May International Festival honors Belgium this year, and while the small country possesses cultural and historical traditions that belie its size, it does not have a winemaking heritage of appreciable importance or interest. But beer – oh, yes, Belgium is a Mecca, a Holy Grail, a Paradise of the brewers’ craft.

MEMPHIS AREA

Delta, Alitalia, Air France to Cut Europe Flights

Delta Air Lines, Air France-KLM and Alitalia will sharply reduce flights across the Atlantic starting this fall, after airlines added too much capacity to those routes just as fuel prices shot up.

Delta Air: High Fuel Prices are Here to Stay

NEW YORK (AP) Delta Air Lines Inc. says high fuel prices are here to stay, and it's putting more of its growth plans on hold as a result.

STATEWIDE

$5.9M Offered for Lambuth

JACKSON, Tenn. (AP) – A group of stakeholders in Jackson has offered $5.9 million to buy the Lambuth University campus for the University of Memphis, a cash payment that would be at least $4.5 million less than Lambuth’s total debt.

NATIONAL BUSINESS

Sears has Long Fix-It List After Posting Loss

New Sears CEO Lou D'Ambrosio has a lot of work to do.

McDonald's CEO on Ronald: 'This is About Choice'

McDonald's Corp. CEO Jim Skinner came out swinging Thursday when asked about Ronald McDonald and whether the burger chain hooks children with junk food.

Comcast Apologizes to Nonprofit for Cutting Funds

WASHINGTON (AP) – Comcast has apologized to a Seattle nonprofit called Reel Grrls after an executive told the organization that Comcast would no longer fund it because of its Twitter post questioning Comcast's hiring of a member of the Federal Communications Commission.

LinkedIn's Stock Up 90 Percent in Market Debut

NEW YORK (AP) – LinkedIn's stock more than doubled in its market debut Thursday because of huge investor demand for the first major U.S. social networking company to go public.

Amazon Says E-Book Sales Surpass Printed Books

NEW YORK (AP)Amazon.com Inc. on Thursday said that, after less than four years of selling electronic books, it's now selling more of them than printed books.

Leading Indicators Slip for 1st Time in 10 Months

NEW YORK (AP) – A private research group's forecasting gauge suggests some bumps in the U.S. economic recovery this summer.

Fewer People Applied for Unemployment Benefits

WASHINGTON (AP) – The number of Americans applying for unemployment benefits fell sharply for the second straight week, suggesting the job market is slowly recovering.

Rich Spend, Others Scrimp, Retail Reports Show

NEW YORK (AP) – High gas prices are driving a wider wedge between the wealthy and everybody else.

REAL ESTATE

Home Sales Fall, Despite Uptick in 1st-Time Buyers

WASHINGTON (AP) – Fewer people purchased previously occupied homes in April, a troubling sign that the weak housing market remains a drag on the economy.

Fixed Mortgage Rates Touch New Lows for 2011

NEW YORK (AP) – Fixed mortgage rates fell this week to the lowest point of the year, offering incentive for homeowners to save money by refinancing their loans.

Americans at Risk of Foreclosure Rose in Q1

WASHINGTON (AP) – The number of Americans at risk of foreclosure increased this year, a troubling sign that the housing crisis is far from over.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 77 77 11,602
MORTGAGES 79 79 13,506
FORECLOSURE NOTICES 0 0 1,858
BUILDING PERMITS 96 96 24,260
BANKRUPTCIES 53 53 7,526
BUSINESS LICENSES 31 31 3,943
UTILITY CONNECTIONS 0 0 4,681
MARRIAGE LICENSES 20 20 2,564

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