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VOL. 123 | NO. 229 | Friday, November 21, 2008

Memphis Airport to Host World Conference in 2011

Memphis International Airport will host the Airport Cities World Conference and Exhibition in April 2011, giving the city a chance to showcase the airport – and its burgeoning aerotropolis concept – to executives from around the globe.

Methodist Eliminates 99 Jobs

Methodist Le Bonheur Healthcare is cutting 99 positions at its hospitals and offices.

Council Resurrects Utility Assistance Program

About four months after the city of Memphis pulled the plug on a $2.5 million utility assistance program intended to help the working poor pay their power bills, the Memphis City Council has approved another $2.5 million in utility assistance.

Harrah’s Footprint Shrinks in the South

Harrah’s Entertainment, which announced this week the closure of its Memphis operations, already had been shrinking its presence in the South although it remains the dominant player in the Tunica market.

Wharton’s Mayoral Fundraiser A Soft Sell

Shelby County Mayor A C Wharton Jr. drew more than 100 people to a $500-a-head fundraiser this week at The Racquet Club of Memphis.

Local Weather
Today
Memphis, TN
60°F
Fair
Wind: 6 mph
Humidity: 49%

EVENTS

The Memphis International Auto Show will be held today through Sunday at the Agricenter Expo Center and Shelby Show Place Arena, 7777 Walnut Grove Road. The auto show will be open from 10 a.m. to 10 p.m. today and Saturday and 10 a.m. to 6 p.m. Sunday.

more events »

Soden Says Graceland Expansion Plans Still Afoot

Graceland turns on the most famous Christmas lights in rock ‘n’ roll this evening in Whitehaven, and country music star Martina McBride will be in Graceland Plaza to throw the switch on the rows of blue lights.

Fed Sees US Economic Woes Persisting Into 2009

WASHINGTON (AP) – Pounded by a fierce financial crisis, the United States is sinking deeper into economic despair that has pushed the number of newly laid-off workers to a 16-year high, with problems likely to stretch well into next year.

Raleigh Retail Takes Further Blow

The retail market in Raleigh took another hit this week when the Raleigh Plaza shopping center at the northeast corner of Austin Peay Highway and Yale Road was demolished.

Fairgrounds Ownership Question Lingers

The Herenton administration’s plan to take a development agreement for the Fairgrounds to the City Council was delayed this week. The delay came the same week that the Shelby County Board of Commissioners finally approved a development agreement for Bass Pro Shops to remake The Pyramid.

RedRover Shows Growth Strategy With Hire of Latourette

It might seem counterintuitive that a small Memphis marketing and communications agency like RedRover Co. LLC is adding to its staff at a time of economic uncertainty and palpable fear in the business world. RedRover recently brought Cynthia Latourette on board as a marketing coordinator and account executive.

Millington IT Company Chosen To Launch Product Nationally

West Virginia-based Plethora Technology, which developed and received a patent earlier this year for the technology, chose Sparco.com because of its reputation and Memphis-area location, said Annette Kerlin, chief executive officer of Plethora.

GMAC Files for Bank Holding Status

DENVER (AP) - GMAC Financial Services, the financing arm of General Motors, said Thursday it applied to become a bank holding company, making it eligible for aid under the government's $700 billion bank rescue plan.

Citi Shares Sink Despite Saudi Prince's Investment

NEW YORK (AP) - Citigroup Inc. shares tumbled below $5 a share Thursday for the first time in 15 years, a sign that a Saudi prince's decision to boost his stake in the bank failed to galvanize confidence among increasingly anxious investors.

Credit Market Recovery Slips on Carmaker Fears

NEW YORK (AP) - Investors flooded into government debt again on Thursday, sending Treasury yields to multiyear lows as ongoing worries about an auto industry collapse impede the credit markets' attempts at a recovery.

Fuld Replacement Named at Lehman

NEW YORK (AP) - A restructuring expert overseeing the liquidation of Lehman Brothers will replace Richard Fuld as chief executive on Dec. 31, Lehman lawyer Harvey Miller said Thursday.

Detroit Automakers' Rescue Stalls in Senate

WASHINGTON (AP) - A plan to give troubled U.S. automakers billions of dollars in government-backed loans is on life support, leaving the fate of hundreds of thousands of workers and Detroit's once-venerable car companies hanging in the balance.

Wal-Mart Buys Wind Energy Supply

BENTONVILLE, Ark. (AP) - Wal-Mart Stores Inc. says it has invested in a wind energy farm in Texas that will generate enough power to light 15 percent of its Texas operations.

Stores May See Disappointing Black Friday Sales

NEW YORK (AP) - After pushing steep discounts throughout November that are usually reserved for the day after Thanksgiving, retailers from Kohl's to Toys "R'' Us are offering even bigger cuts and promotions for Black Friday in a frantic bid to pull in shoppers.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 84 84 5,157
MORTGAGES 103 103 6,812
FORECLOSURE NOTICES 15 37 1,593
BUILDING PERMITS 0 0 11,979
BANKRUPTCIES 60 105 5,405
BUSINESS LICENSES 28 28 2,089
UTILITY CONNECTIONS 97 97 7,155
MARRIAGE LICENSES 24 24 1,482

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