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More drama with Temple-Inland/International Paper

This Temple-Inland – International Paper thing is getting interesting.

We’ve reported on the weeks-long back-and-forth between the two packaging rivals, which started with Memphis-based International Paper making overtures for and eventually a hostile takeover bid for Temple-Inland.

Temple-Inland has said no at every turn, even going so far as to adopt a poison pill so no buyer can acquire more than 10 percent of the company. Temple-Inland thinks IP is valuing the company too low and won’t spend enough to buy it.

Now there’s a new wrinkle. A Temple-Inland investor is suing the company over its “utter refusal” to negotiate with IP as being not in the best interest of shareholders, according to a Bloomberg report.

“The director defendants’ selfish refusal to negotiate deprives Temple-Inland’s stockholders of the certainty of receiving a significant immediate cash premium versus waiting years for a recovery in building products,” lawyers for the investor said in the complaint. “Their rejection also ignores that the economic recovery is slow, which implies a slow recovery in packaging markets.”

Realty Shows Narrow in on Foreclosures

Just a few short years ago, house-flipping realty TV shows racked up all of the ratings as the housing market soared. Now, the format has changed to a new reality – foreclosures.

Later this summer and fall, houses sold either by the bank and/or in a short sale will be the new focus of several TV networks.

Here’s a rundown of some of the shows:

  • “Flip Men”: In September, Spike TV will premier a show about two hosts in Salt Lake City who attend auctions for foreclosed homes and try to make money in the foreclosure market.
  • A&E Television Network: The network plans to have a new show about flipping homes, some of which are in foreclosure, in the Houston area.
  • DIY Network: The network has a show in development about flipping foreclosed houses that is slated for 2012.
  • “Flipping Out:” The Bravo show, which is in its fifth season, will start tackling more foreclosure topics with host Jeff Lewis, a house flipper turned designer, working with lenders to try to buy a foreclosed home.

Lewis told The Wall Street Journal that he expects “more and more” reality shows to debut about foreclosed homes.

“People want to watch programs that reflect the current reality, not a fantasy,” he said.

Free Amy LaVere song in iTunes store

Fans of Amy LaVere, who several days ago held a free concert in Overton Park to celebrate the release of her new CD “Stranger Me,” can download one of the tracks for free in the iTunes store.

The song is “You can’t keep me.”

A CD and vinyl edition of LaVere’s new record are available via Amazon.com. And limited edition autographed CDs are available from LaVere’s label, Archer Records.

Gov. Haslam: “Memphis has to be a great city”

If anybody had any doubts about whether Bill Haslam would forget about the west side of the state when he moved into the Governor’s mansion in Nashville, he made a point of dispelling those notions Thursday at the Downtown Memphis Commission’s annual luncheon.

He took pride in telling the crowd, for example, that only 24 hours earlier he was running in Downtown Nashville dressed in his “Believe Memphis” shirt.

“If Tennessee is going to be a great state, Memphis has to be a great city,” Haslam said. “It really is that simple.”

He singled out Downtown Memphis for special praise, which was fitting considering the group that brought him to speak. He said Downtown has the kind of corporate presence “other cities would kill to have.”

“The passion and commitment people have to Memphis is almost unparalleled,” he said.

Get on Board: More Than 100 City, County Vacancies

MPACT Memphis, a nonprofit dedicated to fostering civic, cultural and social engagement among Memphis professionals under the age of 40, will host two events in hopes of filling the more than 100 current vacancies on city and county government boards and commissions.

On Thursday, July 21 at 6:00 p.m., MPACT will connect young professionals interested in serving on boards with the right people and resources during Civics 101: Boards and Commissions, which will take place at 7691 Poplar Avenue in Germantown. The event will include a panel discussion featuring several MPACT members who currently serve on boards, as well as representatives from city government, who will explain how the process works.

Then on Friday, July 29, MPACT will again connect young professionals with opportunities to participate in government during the monthly South Main Trolley Night. This time around, the organization will partner with the City of Memphis, with Memphis Mayor A C Wharton, Jr., members of the City Council, and citizens who serve on local boards and commissions in attendance. Complimentary food and drinks will be provided.

Click here for details.

Dansette

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