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VOL. 125 | NO. 7 | Tuesday, January 12, 2010

UPDATE: White Claims Dist. 83 State House Seat

Mark White is the newest member of the Shelby County legislative delegation to Nashville. The Republican business owner won Tuesday’s special election for the State House District 83 seat representing parts of East Memphis and Eastern Shelby County.

Mortgage Activity Sums Up Dreary ’09

Although the mortgage industry enjoyed an uptick in activity as the year ended, it by no means salvaged an otherwise abysmal 2009.

Q4 Mortgage Numbers Break Through Deep Freeze

Shelby County’s mortgage numbers took a cue from home sales by ending the year on a good note and recording a positive fourth quarter – the first year-over-year improvement for a single quarter since mid-2006.

Pellicciotti Wins Commission Seat

Shelby County Commissioners took several rounds to do it, but got through the last two appointments left from the busy 2009 political year.

Square Owner: No Remake For Now

The proposed overhaul of Overton Square that was to have included building a 53,000-square-foot grocery store appears dead in the water.

Local Weather
Currently
Memphis, TN
8.0°F
Fair
Wind: North at 6.9 mph
Humidity: 73%

EVENTS

The Alliance for Nonprofit Excellence will hold a workshop today from 8:30 a.m. to 3:30 p.m. at its office, 5100 Poplar Ave., Suite 502. Karen Kitchens, program officer of The Assisi Foundation of Memphis Inc., will speak. Cost is $99 for members, $150 for nonmembers and $89 for those in the Program for Nonprofit Excellence. For more information, call 684-6605 or visit www.npexcellence.org.

more events »

Builder Optimistic About C’ville Subdivision

Starting homes in the middle of January – and in the middle of a housing slowdown – might not seem like the wisest approach, but John Worley said the stars are aligned right as he begins the second phase of the Woodgrove Subdivision in Collierville.

Today’s Council Activity Expected To Be Brisk

Memphis City Council member Shea Flinn wants to close Madison Avenue to cars between Front and Cooper streets on Sunday mornings from 5 a.m. to noon.

Professors: Corporate Tax Rate Holds U.S. Back

As nations emerge from the global recession and reposition themselves, the United States could be left behind because of its high corporate tax rate, said Ronald W. Spahr, a finance professor at the University of Memphis.

Watchdog Saino Forms Nonprofit Organization

Joe Saino is a self-appointed watchdog, a protector of the people’s house who snarls at the faintest scent of bloated, inefficient government. And his bark just got a little louder.

New York Company Buys 158-Unit Greenview Estates in Raleigh

4650 Hedges Drive, Memphis, TN 38128, Sale Amount: $3 Million -
The 158-unit Greenview Estates apartment complex at 4650 Hedges Drive in Raleigh has sold for $3 million to a New York-based entity called Greenview Estates LLC. The sale closed Dec. 17 but wasn’t recorded until last week.

State House Vote Under Way as Special Session Begins

The Shelby County delegation to the Tennessee Legislature is one member short as a special legislative session on education begins today.

Memphis City Council Agenda

The Memphis City Council will meet today at 3:30 p.m. at City Hall, 125 N. Main St. Among the resolutions to be discussed is one proposed by councilman Shea Flinn, who suggested closing Madison Avenue between Front and Cooper streets to vehicular traffic on Sundays between 5 a.m. to noon, creating an urban trail for pedestrian and bicycle travel. Click on the icon for a full meeting agenda.

STATE LEGISLATURE

Tenn. Lawmakers Given First Look at Education Plan

NASHVILLE, Tenn. - Lawmakers got their first detailed look Monday at Gov. Phil Bredesen's education proposals for a special legislative session.

8th District Candidate Janes Drops Out of GOP Race

BRIGHTON, Tenn. (AP) - A Republican candidate running to succeed Rep. John Tanner in Congress says he will now run as an independent.

Democrat Erdel Joins Race for Gordon Seat in House

MURFREESBORO, Tenn. (AP) - Retired Federal Aviation Administration inspector George Erdel of Murfreesboro is mounting what he calls an "outsider" campaign for the nomination to succeed Democratic Rep. Bart Gordon in Congress.

Sundquist Has Advice for GOP in Governor's Race

TOWNSEND, Tenn. (AP) - Former Gov. Don Sundquist predicts a Republican candidate will win the governor's race if the party's primary doesn't turn too vicious.

NATIONAL BUSINESS

AP Source: Obama Weighing New Levy on Banks

WASHINGTON (AP) - President Barack Obama is considering a levy on banks to help recover tax dollars from banks that needed Washington's help to stay afloat.

SEC Expands Charges Against BofA

WASHINGTON (AP) - Federal regulators have expanded their charges against Bank of America Corp. over billions in bonuses paid at Merrill Lynch, accusing the bank of failing to disclose mounting losses at Merrill before a shareholder vote approving the combination of the two firms.

STIMULUS WATCH: Unemployment Unchanged by Projects

WASHINGTON (AP) - A federal spending surge of more than $20 billion for roads and bridges in President Barack Obama's first stimulus has had no effect on local unemployment rates, raising questions about his argument for billions more to address an "urgent need to accelerate job growth."

REAL ESTATE

Commercial Property Market to Favor Tenants in '10

LOS ANGELES - The commercial property market is coming off its worst year in decades, and the woes are expected to deepen before a turnaround takes hold.

NATIONAL POLITICS

Judge Has Questions in Gay Marriage Trial in CA

SAN FRANCISCO (AP) - The judge presiding over a highly anticipated gay marriage case peppered lawyers with questions Monday as they presented their opening statements, frequently interrupting the introductory remarks to ask if there was evidence underlying the remarks.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 0 0 800
MORTGAGES 0 0 952
FORECLOSURE NOTICES 0 6 101
BUILDING PERMITS 0 0 1,205
BANKRUPTCIES 0 36 527
BUSINESS LICENSES 0 74 240
UTILITY CONNECTIONS 0 1 338
MARRIAGE LICENSES 0 0 82

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