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VOL. 126 | NO. 248 | Wednesday, December 21, 2011

Council Passes $16M Overton Square Funding

It may have been a murky day in Memphis, but neighborhood stakeholders didn’t let the afternoon rain dampen their support of the Overton Square redevelopment project during the Memphis City Council’s final meeting of the year.

Feds Sue FedEx for $1.5M

The federal government filed a lawsuit Tuesday, Dec. 20, against FedEx Corp. that seeks civil penalties of a little more than $1.5 million plus interest.

Sounds of the Season

Deering & Down single benefits Humane Society

The blues and folk duo Deering & Down turned their new Christmas single into a Christmas present for a Memphis-area nonprofit organization.

NAR Revises 2007-11 Sales Down 14 Pct., Reports Nov. Sales Up

WASHINGTON (AP) – The number of Americans who bought previously occupied homes rose last month. But the National Association of Realtors says it overstated about 3.5 million sales during and after the Great Recession, showing the housing market remains much weaker than previously thought.

UofM Officially Takes Over Lambuth Campus

JACKSON, Tenn. (AP) – The University of Memphis has officially taken ownership of the Lambuth campus and a flag-raising ceremony is scheduled for next month.

Local Weather
Today
Memphis, TN
38°F
Fair
Wind: 9 mph
Humidity: 62%

EVENTS

The Memphis Bar Association will present a continuing legal education seminar titled “Insurance Errors & Omissions” Wednesday, Dec. 21, from 1:30 p.m. to 4:45 p.m. at International Paper, 6400 Poplar Ave., Tower III, ponderosa pine room. For more information or to register, visit www.memphisbar.org.

more events »

Medco Shareholders OK $29B Express Scripts Deal

FRANKLIN LAKES, N.J. (AP) – Pharmacy benefits manager Medco Health Solutions Inc., the parent company of Memphis-based Accredo Health Group Inc., says its shareholders have approved the company's proposed acquisition by Express Scripts for $29.1 billion.

Bulls Announce 5-Year Extension for Rose

DEERFIELD, Ill. (AP) – The Chicago Bulls have made it official: Reigning MVP Derrick Rose has agreed to a five-year contract extension.

‘Santa Claus’ Makes 100th Visit to Kids at St. Jude

The children at St. Jude Children’s Research Hospital in Memphis celebrated Christmas in the lobby of the Chili’s Care Center Monday, Dec. 19, with crafts, holiday treats and a special visit from Old St. Nick.

Tri-State Bank Makes Promotions, BofA Makes Local Hires

Tri-State Bank of Memphis, a $131 million asset bank founded 65 years ago this month, has announced a series of executive changes.

NAR to Revise Home Sales Data

Businesses nationwide are examining their books for the end of the year, and the nation’s largest trade association has its fair share of adjustments as well.

MEMPHIS NEWSMAKERS

Thomison Joins PGM/Trumbull

Dr. John Thomison has joined Pathology Group of the Mid-South/Trumbull Labs LLC.

LOCAL COLUMNISTS

To Blog or Not to Blog?

To blog or not to blog? Though certainly not as life or death as Shakespeare’s variation, it’s an interesting question faced by countless business owners and marketing professionals every day.

MEMPHIS AREA

Rep. DeBerry Says She’s Free of Cancer

NASHVILLE (AP) – State Rep. Lois DeBerry of Memphis has a lot to be thankful for this holiday season – mainly being alive.

STATEWIDE

Tenn.-Based Eastman Chemical Touts China as Key Partner

KINGSPORT, Tenn. (AP) – Executives at Kingsport, Tenn.-based Eastman Chemical Co. say China is a key role in the company's growth.

STATE GOVERNMENT

THEC Discusses Speed-Up in Capital Projects

NASHVILLE (AP) – The Tennessee Higher Education Commission agreed Tuesday to support a plan that would have colleges and universities pay part of the cost for campus construction projects and also requested approval of a five-year capital program that totals $1.8 billion.

NATIONAL BUSINESS

Unemployment Fell in 43 States in November

WASHINGTON (AP) – Unemployment rates fell in 43 states in November, the most number of states to report such declines in eight years.

Holiday Flying to Fall Slightly, Trade Group Says

NEW YORK (AP) – Fewer people will fly this holiday season, but flights will still be packed.

NATIONAL GOVERNMENT

APNewsBreak: Medicare Cuts Could Hit Jan. 18

WASHINGTON (AP) – Nearly 650,000 doctors caring for millions of seniors will get a steep cut in Medicare payments Jan. 18 unless a gridlocked Congress issues a reprieve, program officials said Tuesday.

House Republicans Reject 2-Month Payroll Tax Cut

WASHINGTON (AP) – The House Tuesday rejected legislation to extend a payroll tax cut and jobless benefits for two months, drawing a swift rebuke from President Barack Obama that Republicans were threatening higher taxes on 160 million American workers on Jan. 1.

US Proposes New, Tougher Rules for Big Banks

NEW YORK (AP) – The Federal Reserve on Tuesday said the largest U.S. banks and financial companies should hold extra cash on their balance sheets to cushion themselves against financial crises.

Tobacco Firms Want Federal Court Decision Delayed

RICHMOND, Va. (AP) – America's largest cigarette makers said Tuesday that the federal judge presiding over a decade-old lawsuit against the tobacco industry should delay her decision while other cases challenging new tobacco regulations are decided. The Justice Department, however, argued the case should move forward expeditiously.

Boehner: Obama Should Make Senate Bargain on Taxes

WASHINGTON (AP) – House Speaker John Boehner says it's time for President Barack Obama to help end Congress' impasse over renewing the payroll tax cut and jobless benefits.

HEALTH CARE

Surgeon Warned About Medtronic Disclosures

MINNEAPOLIS (AP) – The University of Minnesota Medical School has sent a cautionary letter to one of its top spinal surgeons for violating conflict-of-interest disclosure requirements arising from his work for Medtronic Inc.

CVS Caremark Rises on 2012 Profit Forecast

WOONSOCKET, R.I. (AP) – Shares of CVS Caremark Corp. rose Tuesday after the company said it expects that profit at its Caremark pharmacy benefits management business will grow in 2012, reversing two years of declines.

REAL ESTATE

Rise in Home Building Suggests Industry Turnaround

WASHINGTON (AP) – A surge in apartment construction gave home builders more work in November. And permits, a gauge of future construction, rose largely because of a jump in apartment permits.

SPORTS

Grizzlies' Darrell Arthur Out With Torn Achilles

MEMPHIS (AP) – Memphis forward Darrell Arthur will miss the season after an MRI exam confirmed a torn right Achilles tendon.

TECHNOLOGY

Super Bowl to be Streamed Online, To Mobile Phones

NEW YORK (AP) – The biggest draw in television is going mobile.

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Blog Get more from The Daily News
Blog News, Training & Events
RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 0 269 16,682
MORTGAGES 0 313 21,745
FORECLOSURE NOTICES 0 56 4,322
BUILDING PERMITS 0 209 39,587
BANKRUPTCIES 0 287 15,829
BUSINESS LICENSES 0 67 5,558
UTILITY CONNECTIONS 0 413 23,986
MARRIAGE LICENSES 0 94 5,129

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