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VOL. 123 | NO. 50 | Wednesday, March 12, 2008

Mortgage Industry Gets Sound Drubbing

The mortgage industry continued to get knocked around this week, absorbing a flurry of punches on both the national and local fronts.

'Sicko' Raises Flags About Larger Health Care Issues

Michael Moore films are intended to raise the dander, and channeling that anger into thoughtful discussion was the aim of a recent screening of "Sicko" at Rhodes College.

Spiegel to Begin Work Friday as CEO At Methodist University Hospital

Kevin M. Spiegel Friday will begin work as chief executive officer and administrator of Methodist University Hospital.

Shelby Farms Planners Bide Time While Designs Chewed Over

The three planners competing for the job of charting Shelby Farms' future can be forgiven if they looked a bit nervous this month.

Kustoff Resigns District Atty. Post

U.S. Attorney David Kustoff is leaving his job as chief federal prosecutor for West Tennesseee.

Local Weather
Today
Memphis, TN
47°F
Partly Cloudy
Wind: 9 mph
Humidity: 63%

EVENTS

The Alliance for Nonprofit Excellence will host "Researching Grant Funding" today from 9 a.m. to 1 p.m. at the Alliance's office, 606 S. Mendenhall Road, Suite 108. The cost to attend is $65 for Alliance members, $55 for participants in the Program for Nonprofit Excellence and $99 for nonmembers. For more information or to register, contact April DeBerry at 684-6605 or adeberry@npexcellence.org.

more events »

Friends For Life Seeks New Director

A local nonprofit organization that provides counseling and other services for people who have tested positive for HIV and AIDS is searching for a new executive director.

Economists, Officials Come to Grips With Stark Realities

It was fitting that a panel discussion at the University of Memphis about Shelby County's eroding tax base was held in a conference center building on a street called Innovation Drive.

Credit Requirements Changing Daily

NEW YORK (AP) - The loan you qualify for on Monday might be out of reach on Tuesday.

Medtronic Paid Akin Gump to Lobby

WASHINGTON (AP) - Medtronic Inc. paid at least $140,000 to a lobbying firm in 2007 for representation on health care regulation and legislation, including a proposal that would require medical device makers to report gifts to physicians.

OFHEO Classifies Fannie, Freddie as Adequately Capitalized

WASHINGTON (Dow Jones/AP) - The Office Of Federal Housing Enterprise Oversight said Tuesday that Fannie Mae and Freddie Mac were adequately capitalized at the end of 2007.

State Appeals Court Upholds Strip Club Ruling

The Tennessee Court of Appeals has upheld a Shelby County Circuit Court ruling in favor of a Brooks Road strip club closed by the city of Memphis.

Trade Deficit Grows in January as Imports, Crude-Oil Prices Hit Record Highs

WASHINGTON (AP) - The United States' trade deficit grew larger in January as imports - including crude-oil prices - zoomed to all-time highs.

Fed Auctions $50 billion in Short-Term Loans to Banks

WASHINGTON (AP) - The Federal Reserve said Tuesday it has auctioned $50 billion in short-term loans to cash-strapped banks at an interest rate of 2.800 percent.

Fed Announces Further Steps to Ease Credit Crunch

WASHINGTON (AP) - The Federal Reserve on Tuesday ramped up efforts to provide more relief to squeezed financial institutions, a coordinated action with other central banks aimed at easing a global credit crisis that threatens to push the U.S. economy into its first recession since 2001.

Idea of City, County Parting Ways on Arenas Goes One Step Further Today

The Wharton administration is in favor of Shelby County government walking away from its ownership interest in The Pyramid, The Mid-South Coliseum and The Liberty Bowl. And the idea of a city-county working group to negotiate with both companies wanting to develop attractions in The Pyramid has been vetoed by the Herenton administration.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 65 366 17,721
MORTGAGES 70 417 23,068
FORECLOSURE NOTICES 15 91 4,519
BUILDING PERMITS 210 932 42,157
BANKRUPTCIES 62 299 16,691
BUSINESS LICENSES 19 80 5,781
UTILITY CONNECTIONS 49 305 25,174
MARRIAGE LICENSES 16 96 5,381

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