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VOL. 124 | NO. 126 | Tuesday, June 30, 2009

UPDATE: Lowery Transition Team Includes Boyd, Sammons and Rubin

Lipscomb To Stay In Community Development Role

Incoming Memphis Mayor Myron Lowery has named his transition team.

City Poised to Pay Lee’s Legal Expenses

Joseph Lee appears set to get the six-figure sum he’s long awaited to cover his legal expenses incurred during a 2007 federal corruption investigation.

Resignations Begin In Herenton Admin

The director of the troubled city division of Public Services and Neighborhoods will be leaving City Hall with Mayor Willie Herenton on July 10.

Commercial Real Estate Takes a Beating

Commercial real estate suffered a sharp decline in May, with sales falling dramatically from the same month a year ago and the previous month.

Lamar Crossing Developer Wants To Avoid Foreclosure

The Lamar Crossing Apartments are facing a foreclosure sale on the Shelby County Courthouse steps July 16, but the group that developed them is hoping for another chance to salvage the $11.7 million project.

Local Weather
Today
Memphis, TN
61°F
Fair
Wind: 5 mph
Humidity: 50%

EVENTS

The Alliance for Nonprofit Excellence will present a workshop titled “Advocacy & Public Policy” today from 8:30 a.m. to noon at the Alliance office, 5100 Poplar Ave. Alliance for Justice will lead the workshop. Cost is $65 for members, $125 for nonmembers and $55 for those in the Program for Nonprofit Excellence. For more information, call 684-6605 or visit www.npexcellence.org.

more events »

Red Cross Tries To Regain Footing After Layoffs

The institution that should be the bedrock of stability for any disaster needs more community support to fulfill that mission.

Hyneman Sells Lakeland Outparcel To California Investors

2957 Canada Road, Lakeland, TN 38002, Sale Amount: $2 Million -
A one-acre outparcel of the Corner Shops retail center at 2957 Canada Road in Lakeland has been sold for $2 million to a pair of California-based trusts. Corner Shops LLC, whose principal is developer Kevin Hyneman, sold the parcel June 19. The one-acre property has a land lease with Regions Bank to build a branch there. Each of the buyers took 50 percent ownership of the parcel.

Tenn. College Faculty Pay Less than Average

NASHVILLE, Tenn. (AP) - Tennessee is not raising college faculty salaries at the same rate most Southeastern states have over the past decade.

Court: AG Must Go to Court to Probe National Banks

WASHINGTON (AP) – The U.S. Supreme Court said Monday that state attorneys general can investigate national banks for discrimination and other crimes, but only with a court’s help.

Bernard Madoff Gets Maximum 150 Years in Prison

NEW YORK (AP) - Convicted Wall Street swindler Bernard Madoff was sentenced to 150 years in prison Monday for a fraud that the judge called so "extraordinarily evil" that he needed to send a message to potential copycats and to victims who demanded harsh punishment.

Judge to Decide Tuesday on Stanford's Bond

HOUSTON (AP) - A federal judge says he will decide by Tuesday afternoon on whether to revoke a bond for Texas financier R. Allen Stanford that would let him be free while he awaits trial on charges he swindled investors out of $7 billion.

US High Court Won't Hear Sept. 11 Claims vs. Saudi

WASHINGTON (AP) - The U.S. Supreme Court has refused to allow victims of the Sept. 11 attacks to pursue lawsuits against Saudi Arabia and four Saudi princes over charitable donations allegedly funneled to al-Qaida.

Mortgage Rates Tick Up, Remain Above Lows

WASHINGTON (AP) - Rates for 30-year home loans edged up this week, remaining above record lows reached over the spring.

Stimulus Money Boosts Health Clinics Serving Poor

COLORADO SPRINGS, Colorado (AP) - Homeless teenagers at a central Colorado shelter are feeling the effect of the U.S. government's economic stimulus package. It's the feeling of a dentist's drill.

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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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