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VOL. 123 | NO. 42 | Friday, February 29, 2008

Steady Sales Volume Good News for Commercial Real Estate

A handful of high-dollar deals highlighted Shelby County's commercial real estate sales landscape in January, helping 2008 begin on a positive note with a total sales volume of $137.4 million.

City, County Budget Woes Bring Different Reactions

Shelby County Mayor A C Wharton Jr. broke the news recently that the county's official budget shortfall is $2 million higher than his finance team originally had forecast. And it could climb higher still.

World Trade Club Position One of Carter's Many Roles

F. Gray Carter is many things to many people. Besides his day job as vice president of purchasing and logistics for Buckeye Technologies Inc., Carter is first and foremost a husband and a father.

MusiCares Provides Hope to Entertainers

In the past 12 months, singing diva Celine Dion pulled down a cool $45 million, according to Forbes. Meanwhile, country crooner Tim McGraw earned $37 million and rapper 50 Cent had to make do on $33 million.

Officials Want Would-Be Pyramid Developers To Put Up or Shut Up

Shelby County Board of Commissioners members and their counterparts on the Memphis City Council don't seem to be interested in seeing anymore artist renderings or PowerPoint presentations of what might be in The Pyramid.

Local Weather
Today
Memphis, TN
51°F
Partly Cloudy
Wind: 16 mph
Humidity: 56%

EVENTS

The Memphis Symphony Orchestra will host violinist Susie Park for "Park and Mozart," part of the Paul and Linnea Bert Chamber Series, today at 8 p.m. at First Congregational Church, 1000 S. Cooper St. Tickets are $45 and can be bought by calling 537-2525, visiting the MSO box office at 585 S. Mendenhall Road, or going to www.memphissymphony.org.

more events »

Edwards, Others to Be Honored at Peabody Tonight

At age 25, just two years after she graduated from the University of Memphis with a bachelor's degree in journalism, Johanna Edwards signed a six-figure book deal with New York-based Berkley Books, a division of the Penguin Group.

Breen Orders Ford to Prison

Former state Sen. John Ford was ordered Thursday to begin serving in the next two months his five-and-a-half year prison sentence for a bribery charge.

Northwest Pilots Explain Problems Holding Up Combo Talk

MINNEAPOLIS (AP) - With talks stalled between pilots at Northwest and Delta airlines, the Northwest pilots on Wednesday laid out some of the key problems that are holding up a potential airline combination, according to the latest available by press time.

Rogue Trader at MF Global’s Memphis Branch Rang Up About $142 Million in Losses on Unauthorized Wheat Trades

NEW YORK (AP) - A rogue trader at MF Global Ltd. rang up $141.5 million in losses on the broker's account this week, the company said Thursday, a black eye that cost the company almost a fifth of its market value.

Freddie's Chief Financial Officer Says the Company has Enough Capital to Make it Through 2008

WASHINGTON (AP) - Freddie Mac on Thursday said its loss widened to $2.5 billion in the fourth quarter of 2007 as mortgage defaults mounted and falling interest rates hurt certain investments.

State Senate Votes to Make Fake IDs Used by Illegal Immigrants a Crime

NASHVILLE (AP) - The state Senate has voted unanimously make it a crime for illegal immigrants to use falsified federal identification to gain employment.

Senate Votes to Require Toll Contractors to be American-Owned

NASHVILLE (AP) - The Senate has unanimously passed a bill to require companies contracting with the state to operate toll roads or bridges to be majority American owned.

State Senate Votes to Hike Penalties for DUI Accidents That Hurt Kids

NASHVILLE (AP) - The state Senate has passed a bill to increase penalties for drunken drivers if children riding in their cars are injured or killed.

Black Caucus Upset Democrat Excluded From Anti-Abortion Bill

NASHVILLE (AP) - The Legislature's Black Caucus has lodged a complaint with House Speaker Jimmy Naifeh about a Republican member's exclusion of a Democratic lawmaker who wanted to co-sponsor an anti-abortion resolution.

Ramsey Signals Possible Compromise on Lottery Scholarships

NASHVILLE - State Senate Speaker Ron Ramsey has signaled a possible compromise on lottery scholarship retention standards.

Paulson Says Many Housing Proposals Would Do More Harm Than Good

WASHINGTON (AP) - Treasury Secretary Henry Paulson said Thursday that many proposals being put forward to deal with the housing slump would do more harm than good.

Bernanke Dismisses Worries About US Economy Returning to '70s-Style 'Stagflation'

WASHINGTON (AP) - Federal Reserve Chairman Ben Bernanke told Congress Thursday that the nation isn't "anywhere near" the dangerous stagflation situation of the 1970s.

Congress Urged to Boost Investor Confidence Before Housing Slump Fallout Goes Commercial

WASHINGTON (AP) - To insulate commercial real estate from a still-crumbling housing market, investors need a confidence boost and Congress should help give it, industry analysts and executives told lawmakers Thursday.

Proposed Tenn. Constitutional Amendment on Hunting Heads Back to House

NASHVILLE (AP) - A proposal to create constitutional protections for hunting in Tennessee is headed back to the House after the Senate passed a slightly changed version.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 64 64 16,477
MORTGAGES 72 72 21,504
FORECLOSURE NOTICES 0 0 4,266
BUILDING PERMITS 0 0 39,378
BANKRUPTCIES 69 69 15,611
BUSINESS LICENSES 13 13 5,504
UTILITY CONNECTIONS 84 84 23,657
MARRIAGE LICENSES 37 37 5,072

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