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Yesterday’s stock market frenzy reminds Politico of – John Calipari

I’m on an e-mail list that gives me a daily roundup of business stories from the folks at the widely-read online news site Politico. This was near the top of the stack this morning, referencing Thursday’s weird dip in the stock market:

“Good Friday morning. There is a chance yesterday’s freak intra-day crash may be wiped from history, at least in part, following trade cancellations. Kind of like many of John Calipari’s NCAA wins and Final Four appearances.”

Nations scored on climate for medical devices

PricewaterhouseCoopers will release a report later this year that compares the market environment for the medical device industry in nine nations.
The study will consider 100 metrics, including research and development expenditures, the regulatory environment and demographics.
Nations in the study include Brazil, China, Brazil, Germany, Israel, India, Japan, the United Kingdom and the United States.
The Advanced Medical Technology Association (AdvaMed) supports the initiative. To learn more, visit www.dotmed.com/news/story/12574/

What do the AT&T-Bellsouth Merger, Bear Stearns, and United-Continental Have in Common?

Memphis has been at the center of several big business stories over the past decade in a way that probably escaped major attention locally.

In preparation for 2006’s merger of BellSouth and AT&T, the CEOs of both companies boarded their company jets and flew to Memphis. CEOs Edward Whitacre (AT&T) and Duane Ackerman (Bellsouth) worked out the terms of the multibillion-dollar deal on notepads and shook hands in a Memphis airport hanger, according to BusinessWeek.

In the midst of Bear Stearns’ collapse in 2007, the Wall Street Journal zeroed in on the crisis management style and other personal qualities of the firm’s chief executive officer Jimmy Cayne. A prominently placed story that ran on page A1 of the Wall Street Journal in November 2007 included one revelation that garnered widespread attention in the business press at the time – that Cayne, after playing bridge in 2004 at a Doubletree hotel in Memphis, later invited “a fellow player and a woman to smoke pot with him,” according to the WSJ.

Cayne told the paper no such incident occurred.

More recently, as a blog post below notes, Bloomberg reported that part of the United-Continental airlines merger was negotiated at the Radisson hotel next to Memphis International Airport.

Memphis may qualify for new lending fund

Citi has announced the launch of the Communities at Work Fund, a $200 million program to help fuel small business lending in low-income U.S. communities.
For more information about the fund, visit www.communitiesatworkfund.com.

Election Night Plans

It’s Election Day in Shelby County, as we noted in a story in today’s edition of The Daily News.

So, what happens when the polls close at 7 p.m?

The vote count begins and we’ll track the returns on our website, www.memphisdailynews.com, and via Twitter – @memphisdaily.

The weather is always something to be considered by candidates. Today that may be true in some different ways.

Millington continues to recover from the weekend rain and flooding. The area got the worst of the storm in Shelby County.

During the early voting period, a relatively high number of voters turned out in those precincts. We stress “relatively” because primaries of all kinds are the lowest-turnout elections of any election cycle in Shelby County.

Other voters in the area are now focused on watching the water drop in their homes, finding someplace to stay indefinitely and the fine print of insurance policies.

This set of elections has never topped 20 percent turnout overall – election day and early voting – and this is the fifth set of Shelby County primaries for these offices since the Republican party decided to hold county primaries in 1992.

Meanwhile, this was to be Election Day in a flooded Nashville-Davidson County.

But the Election Commission there got a Chancery Court order delaying the elections until May 18.

Elections in neighboring Williamson and Sumner counties are under way with no delays, but a few polling places have been moved.

Dansette

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