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VOL. 124 | NO. 118 | Thursday, June 18, 2009

FedEx Takes Hits But Comes Out Swinging

The end of fiscal year 2009 brought good news and bad news to FedEx Corp., which released its fourth quarter and full-year earnings report Wednesday.

Oppenheimer Memphis Office Closing

About three months after New York-based investment firm Oppenheimer & Co. Inc. hired several former Stanford Group Co. financial advisers to open a Memphis office for Oppenheimer, the company is shutting it down.

State Fines Appraiser, Suspends Certification

Alan R. Price, a real estate appraiser based in Olive Branch, committed legal violations “indicative of fraudulent or intentionally misleading conduct,” according to a judgment handed down by the Tennessee Real Estate Appraiser Commission.

Big Names, Big Plans For TBA Convention

Attorneys and judges from throughout the state will convene this weekend at The Peabody hotel for the 2009 annual Tennessee Bar Association convention, where big-name speakers such as former Democratic U.S. Rep. Harold Ford Jr. will speak – and where current TBA president, George “Buck” Lewis, will pass the gavel to the new TBA president for 2010-2011.

CCC Adopts Grant Program To Help Downtown Office Market

One of the Center City Commission’s affiliate boards has added a new grant program to the toolbox of tax breaks and businesses incentives offered by the Downtown development agency.

Local Weather
Today
Memphis, TN
66°F
Cloudy
Wind: 10 mph
Humidity: 40%

EVENTS

Christian Brothers University will present the third session of its Family Business Enrichment Series today from 7:30 a.m. to 9:30 a.m. in the Spain Auditorium in Buckman Hall. The topic of the lecture is “Survival of the Fittest – How to Make Your Family Business Thrive.” For reservations, call 321-3999 or e-mail rsvp@cbu.edu.

more events »

WKNO Mounts Foreclosure Education Blitz

Public broadcasting audiences in Memphis soon will have access to a new fountain of information about the mortgage crisis that will span TV, radio, the Internet and the printed page.

Home Builders Association Launches Revamped Web Site

The Memphis Area Home Builders Association has unveiled its latest initiative to combat the stagnant housing market.

Apperson Crump’s Kosciolek Discusses Elder, Family Law

Jeannie M. Kosciolek is an attorney at Apperson Crump & Maxwell PLC, where she practices in divorce and family law as well as general civil litigation and elder law.

City CAO Resigns to Pursue Other Interests

The Herenton administration’s No. 2 man announced Wednesday he is leaving City Hall.

House Speaker Prepared to Cancel Taiwan Trip

NASHVILLE (AP) – State House Speaker Kent Williams said Wednesday he’s prepared to cancel his trade mission trip to Taiwan because balancing the state budget is more important.

Legislative Leaders Reach Deal on Tenn. Budget

NASHVILLE, Tenn. (AP) - Lawmakers say they have reached a tentative agreement to resolve major differences over Tennessee's $29.6 billion annual spending plan.

Mich. Aggressively Wooing GM Small Car Production

LANSING, Mich. (AP) - Michigan wants to prove that General Motors Corp. can profitably build small cars in the United States.

Bernanke Invited to Testify on BofA-Merrill Deal

CHARLOTTE, N.C. (AP) - A congressional panel has invited Federal Reserve Chairman Ben Bernanke to testify on June 25 about allegations by Bank of America Corp. CEO Kenneth Lewis that government officials pressed him to buy Merrill Lynch & Co. after Lewis became aware of major losses at the investment bank.

Commodities Reverse Early Losses, Move Higher

NEW YORK (AP) - Prices for commodities like oil and gold reversed early losses and moved higher Wednesday as the dollar came under more pressure.

Standard & Poor's Cuts Ratings on 18 Banks

NEW YORK (AP) - Credit ratings agency Standard & Poor's on Wednesday cut ratings on 18 banks amid concern about further weakening in the financial sector.

Obama Spells Out Major Financial Rules Overhaul

WASHINGTON (AP) - President Barack Obama proposed sweeping new "rules of the road" for the nation's financial system Wednesday, casting the changes as a critically important response to the economic crisis and the greatest regulatory transformation since the Great Depression.

Senate Off to a Rocky Start on Health Care

WASHINGTON (AP) - The Senate on Wednesday began writing legislation to revamp the nation's health care system, but its historic first step was overshadowed by partisan anger and cost problems that troubled lawmakers on both sides.

War-Funding Bill May Face Difficulty in Senate

WASHINGTON (AP) - Senate Majority Leader Harry Reid said Wednesday that this is the last time Congress will go through the ordeal of passing an off-the-books, expensive bill to fund two wars. It may also be one of the more difficult.

Eddie Bauer Files for Bankruptcy Protection

NEW YORK (AP) - Struggling mall retailer Eddie Bauer Holdings Inc. filed for Chapter 11 bankruptcy protection on Wednesday but said a bidder already has agreed to keep the majority of its 371 stores open, honor gift cards and hold onto most employees.

AP Source: Benefits for Gov't Workers' Gay Partners

WASHINGTON (AP) - President Barack Obama, whose gay and lesbian supporters have grown frustrated with his slow movement on their priorities, is extending benefits to same-sex partners of federal employees but stopping short of a guarantee of full health insurance, a White House official said.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 81 217 5,290
MORTGAGES 94 276 6,985
FORECLOSURE NOTICES 0 50 1,606
BUILDING PERMITS 186 514 12,493
BANKRUPTCIES 66 241 5,541
BUSINESS LICENSES 27 85 2,146
UTILITY CONNECTIONS 52 234 7,292
MARRIAGE LICENSES 10 53 1,511

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