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Editorial Results (free)

1. Dozens Arrested in Medicare Fraud Busts Across US -

MIAMI (AP) - Federal authorities arrested more than 30 suspects, including doctors, and were seeking others in a major Medicare fraud bust Wednesday in New York, Louisiana, Boston and Houston, targeting scams such as "arthritis kits" – expensive braces that many patients never used.

2. Outside Interests Local Sector’s Biggest Benefactors -

As the real estate slump toils on, a Chicago-based company has proven to be a savior of sorts for the local industrial sector.

HSA Commercial Real Estate, already a player in the local market, continued its investments here by pulling the trigger on three of the four most lucrative deals in Shelby County during the past year, all of them in the Oakhaven/Parkway Village area.

3. Industrial Real Estate Shows Rare Q1 Weakness -

Industrial real estate in many ways is the backbone of Memphis’ economy, providing warehouse and distribution space to the myriad transportation companies that move freight in and out of the city.

That sector began 2009 by showing rare signs of weakness, suffering its first three-month period of negative absorption since late 2007. The Memphis Metropolitan Statistical Area saw a loss of 521,677 square feet in the first quarter, according to quarterly data released last week by the Memphis office of CB Richard Ellis.

4. Treadway Joins Thomas & Betts as Senior VP for Electrical Business -

Charles L. Treadway has joined Thomas & Betts Corporation in the newly created position of senior vice president, group president – electrical. Treadway will provide strategic and operational leadership to the company’s electrical products businesses on a global basis. The electrical segment of Thomas & Betts has approximately 60 manufacturing and distribution facilities in 11 countries and employs approximately 8,000 associates worldwide. The electrical segment reported $2.1 billion in revenues in 2008. Treadway previously served as president and chief executive officer for the Custom Sensors and Technology unit of Schneider Electric.

5. Tight Credit Put Squeeze On ‘08 Commercial Real Estate Sales -

As with the residential sector, 2008 was a year to forget in commercial real estate, which suffered declining sales and endured a nationwide credit crunch throughout the year.

“The big storyline in ’08 was that lenders weren’t lending,” said Johnny Lamberson, senior vice president at CB Richard Ellis Memphis. “It put a real tightening on deals getting done. If deals weren’t highly leveraged, as the year went on it became harder and harder to get transactions closed because nobody was lending money.”

6. Commercial Real Estate Sales Down 18 Percent -

A familiar theme in the commercial real estate market continued in November as a couple of high-dollar transactions kept the month out of the doldrums. Not surprisingly, though, those numbers didn’t do much to salvage an otherwise dismal year.

7. Chicago Company Buys Again In Memphis -

A Chicago real estate firm has bolstered its Memphis presence with another industrial acquisition, its fourth high-dollar deal in the past couple of years.

HSA Commercial Real Estate, operating locally as Memphis Air Trans LP, has bought the 342,860-square-foot, one-story warehouse at 4219 Air Trans Road for $8.4 million, proving that it remains bullish on this market.