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VOL. 124 | NO. 116 | Tuesday, June 16, 2009

UPDATE: Council Approves Transitional MSARC Funding

The city’s tie to the Memphis Sexual Assault Resource Center isn’t completely severed yet, even though the city agency soon will be transferred to Shelby County and fall under the local health department.

UPDATE: Council Passes Guns In Bars Sign Resolution

The Memphis City Council wants restaurants and bars that serve alcohol to post signs banning guns inside their businesses.

Some Doubt Council Will Finish Budget Today

The Memphis City Council will have an opportunity today to finalize the city’s operating and capital improvement budgets and set a new property tax rate.

SCOTN Denies Motion to Speed Appeal in MCS Funding Lawsuit

The Tennessee Supreme Court has declined to hear a direct appeal of a judgment against the city of Memphis in the long-running city schools funding lawsuit.

Bankruptcy Judge Rejects Beale Street Hip-Hop Club

A federal bankruptcy court judge has scrapped plans to reopen the old Pat O’Brien’s on Beale Street as a two-day-a-week nightspot with a dress code.

Local Weather
Today
Memphis, TN
56°F
Cloudy
Wind: 16 mph
Humidity: 60%

EVENTS

The Greater Memphis Chamber Humana Health Series will be today from 7:30 a.m. to 9 a.m. at Crescent Club, Poplar Ave., Suite 909. The speaker panel will include Craig Becker of the Tennessee Hospital Association, Bob Gordon of Baptist Memorial Health Care and Dave Archer of Saint Francis Hospital. For reservations, contact Angela Michaels at 543-3546 or amichaels@memphischamber.com.

more events »

Another Downtown Building In Foreclosure

The real estate slump has claimed another victim in the Memphis skyline, but this time it didn’t wait for the property to be completed.

Drug Case Conspirator Pleads Guilty to Racketeering

Bobby Cole didn’t make it past the 11th grade and still has problems understanding what he reads.

MAHBA Mothballs First-Time Buyer Program

As if builders didn’t have enough headaches, a new program launched last month by the Memphis Area Home Builders Association to increase home sales had to be scrapped because of a legality.

Riviana Continues Work On Rice Processing/Distribution Plant

2371 Prospect St., Memphis, TN 38106, Permit Amount: $3.5 Million -
Riviana Foods Inc. has filed another permit as part of its ongoing project to build a 400,000-square-foot, $67 million rice processing and distribution center here. The latest permit, filed last week with the city-county Office of Construction Code Enforcement, will bring a $3.5 million building to 2371 Prospect St. on Riviana’s campus in the West Person/Elvis Presley area.

Baptist to Hold Conference Center Groundbreaking Ceremony

Officials at Baptist Memorial Hospital Memphis will hold a groundbreaking ceremony Tuesday for a $6.9 million project that will bring a conference center to the campus.

Elder Abuse on the Rise in Tennessee

NASHVILLE, Tenn. (AP) - Gov. Phil Bredesen and the state of Tennessee are recognizing "Elder Abuse Awareness Day" to publicize a steadily increasing problem.

Bredesen Appoints Hollars to Judgeship

NASHVILLE, Tenn. (AP) - Gov. Phil Bredesen has appointed a Livingston attorney to the Tennessee Circuit Court for the 13th Judicial District.

Olive Branch Police Chief Resigns

OLIVE BRANCH, Miss. (AP) - Olive Branch Police Chief Art Heun has tendered his resignation, and announced that he is leaving his post of six years to assume the role of Chief of Police in Dyersburg, Tenn.

Goldman Downgrades Wal-Mart

NEW YORK (AP) - A Goldman Sachs analyst downgraded Wal-Mart Stores Inc. to "Neutral" from "Buy" on Monday, seeing few near-term catalysts that could drive the share price higher.

Obama Pleads for Support Of Health System Overhaul

CHICAGO (AP) – President Barack Obama pushed hard Monday for a health care overhaul, saying the system is “a ticking bomb” for the budget that could force America to “go the way of GM” without a legislative fix.

AIG Says Former Top Exec Plundered Retirement Plan

NEW YORK (AP) - A lawyer for American International Group Inc. has told a jury that AIG's former top executive plundered a company retirement program of billions of dollars because he was angry at being forced out.

Foreign Demand for US Financial Assets Falls

WASHINGTON (AP) - Foreign demand for long-term U.S. financial assets fell in April as both China and Japan trimmed their holdings of Treasury securities.

High Court Strikes Down Valdez Tax on Oil Tankers

WASHINGTON (AP) - The U.S. Supreme Court has struck down as unconstitutional a tax that a city in Alaska imposed on oil tankers using its port.

Court Steps Into Dispute Between Shell, Stations

WASHINGTON (AP) - The U.S. Supreme Court is stepping into a dispute between Shell Oil Co. and gas station operators who claim the oil company tried to drive them out of business.

Dollar 3-Month Interbank Lending Rate at New Low

LONDON (AP) - The cost of three-month dollar loans between banks fell Monday to a new low after some cautiously optimistic comments from the finance ministers of the world's eight leading industrial nations.

STIMULUS WATCH: $25 Check May Cost You Food Stamps

WASHINGTON (AP) - When President Barack Obama increased unemployment benefits as part of his economic stimulus, he also made some Americans ineligible for hundreds of dollars a month in food stamps.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 66 378 15,444
MORTGAGES 67 456 20,235
FORECLOSURE NOTICES 0 109 3,995
BUILDING PERMITS 175 1,046 36,888
BANKRUPTCIES 58 290 14,633
BUSINESS LICENSES 16 80 5,209
UTILITY CONNECTIONS 76 388 22,205
MARRIAGE LICENSES 28 111 4,774

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