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VOL. 126 | NO. 39 | Friday, February 25, 2011

GTx Reports Q4 Loss, but 2010 Profit

Memphis-based biopharmaceutical company GTx Inc. Thursday reported a $7.5 million net loss in the fourth quarter, but posted a $15.3 million profit for the full-year, ended Dec. 31.

Hotel Turnaround

Strong 2011 expected for area hotels

Memphis’ lodging industry officials might be breathing a sigh of relief, as the worst of the hotel industry’s slump seems to be in the rearview mirror.

Godwin to Retire April 15

Memphis Police Director Larry Godwin will retire on April 15, the date he set in paperwork filed last year with city government.

Staples to Build First Memphis Location

The world’s largest office products company will soon enter the Memphis market.

Beale Street's A. Schwab for Sale

The oldest business on Beale Street is for sale.

Local Weather
Today
Memphis, TN
55°F
Fair
Wind: 6 mph
Humidity: 67%

EVENTS

The Memphis Gavel Club will meet Friday at 11:30 a.m. at the Holiday Inn University of Memphis, 3700 Central Ave. Henry Brenner from Goodwill Industries will speak. For more information, call Bob Gray at 494-8639.

more events »

Growing Biz in Region’s Biosciences Topic of Panel

Scientists, academics, business professionals, politicians and others gathered Thursday at the Holiday Inn University of Memphis, 3700 Central Ave., to listen to entrepreneurial panelists voice their perspectives on the business of bioscience.

NHOM Brings Housing Opportunities to Working Poor

For more than two decades, Neighborhood Housing Opportunities Management Executive Director Howard Eddings and his team have worked to rebuild Memphis neighborhoods most plagued by urban decay, whose broken windows and overgrown lots have become familiar eyesores in the wake of the Great Recession.

Pinnacle Airlines Readies for More Changes

2011 will be a year of more transition for Memphis-based Pinnacle Airlines Corp.

Airport Officials Keep Eye on FAA Reauthorization

Memphis International Airport officials are keeping a wary eye on Washington as Congress considers renewing the authorization of the Federal Aviation Administration and possibly cutting or keeping flat Airport Improvement Project revenue.

Dev. Race Procedures Draw Elected Officials’ Ire

When Mitsubishi Electric Power Products Inc. decided the facility in Ako, Japan, where the company produces large power transformers was approaching full capacity, it wasn’t long before the company decided it needed to build another plant.

Optimistic Elkington Weathering Real Estate Storm

When the economy crashed in 2007, Griffin Elkington had just taken a principal broker position at River City Land Co.

Exploring the Mississippi River’s Cutoffs

See what you can catch.

How to Get Started on Proposal Writing

Part one of a two-part series

STATEWIDE

TennCare Program's 2,500 Slots Filled in 64 Minutes

NASHVILLE (AP) – The TennCare Standard Spend Down program filled its 2,500 slots for new applicants in just 64 minutes.

Judge Pledges Speedy Resolution to TennCare Case

NASHVILLE (AP) – A federal judge has pledged a speedy resolution in a 13-year-old class-action lawsuit over care for the 750,000 children on TennCare.

STATE LEGISLATURE

Tenn. Democrats Say GOP Slacking on Job Creation

NASHVILLE (AP) – Tennessee Democrats say the new Republican majority and administration are focusing on other issues instead of a job creation plan they promised voters.

REGIONAL

Miss. Lawmakers Kill Bill on School Land Deals

JACKSON, Miss. (AP) – A Senate committee killed a bill Thursday that some say would've weakened the secretary of state's authority to approve leases on land set aside to benefit schools.

REAL ESTATE

Discount for Foreclosed Homes Widened in 2010

LOS ANGELES (AP) – The gap between the average sale price of a foreclosed home and that of other properties grew wider last year, giving homebuyers who snapped up bank-owned homes big discounts.

Average Rate on 30-Year Mortgage Dips to 4.95 Pct

NEW YORK (AP) – The average rate on the 30-year fixed mortgage fell below 5 percent this week, as investors sought more Treasury notes amid growing tension in the Middle East.

New-Home Sales in January Drop 12.6 Pct

WASHINGTON (AP) — Sales of new homes fell significantly in January, a dismal sign after the worst year for that sector in nearly a half-century.

NATIONAL BUSINESS

Fewer People Sought Unemployment Aid Last Week

WASHINGTON (AP) – Fewer people requested unemployment benefits last week, pushing the average number of applications over the past four weeks to the lowest level in more than two and a half years.

Target's 4Q Profit Rises 11 Pct on Solid Holiday

NEW YORK (AP) – Solid holiday sales and improvements in its branded credit card business helped Target's fourth-quarter profit rise almost 11 percent, but a company official cautioned Thursday that the economy is a "wild card."

Airlines Raise Prices Again as Oil Rises

DALLAS (AP) – Airfares are rising again, and travelers should brace for more price increases.

NATIONAL POLITICS

House Panel's Bill Would End Foreclosure Program

WASHINGTON (AP) – A House committee plans to write legislation next week ending the Obama administration's flagship effort for helping struggling homeowners avoid foreclosure and abolishing three other housing assistance programs.

Obama: Unemployment the Biggest Economic Challenge

WASHINGTON (AP) – President Barack Obama says the biggest challenge facing the U.S. economy is an unemployment rate that remains unacceptably high.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 89 242 14,959
MORTGAGES 111 255 19,585
FORECLOSURE NOTICES 21 43 3,838
BUILDING PERMITS 153 512 35,842
BANKRUPTCIES 61 182 14,216
BUSINESS LICENSES 18 104 5,095
UTILITY CONNECTIONS 76 246 21,679
MARRIAGE LICENSES 16 75 4,632

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