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VOL. 124 | NO. 8 | Tuesday, January 13, 2009

Bankers Thank Their Stars '08 is Over

Go ahead and count the mortgage industry as yet another group overjoyed to see 2008 come to an end.

Mayor Strikes Back About Private Business Dealings

Memphis Mayor Willie Herenton has hired an attorney, and on the attorney’s advice, is not commenting about corruption allegations reportedly being investigated by a federal grand jury.

Digital Billboards Under New Rules

Almost two years ago, Clear Channel Outdoor brought to Memphis what outdoor advertising companies regard as the future of the industry.

Memphis Sees Growing Gym Selection

Memphians will have more options for help with shedding pounds and toning up because new fitness centers are coming to the city.

Wal-Mart CEO Says Retailers Can Help Economy

NEW YORK (AP) – With the nation facing a litany of economic and social challenges, businesses must work with government leaders to address health care, immigration, energy independence and environmental sustainability this year, departing Wal-Mart CEO Lee Scott urged retailers Monday.

Local Weather
Memphis, TN
Mostly Cloudy
Wind: North at 13.8 mph
Humidity: 48%


The Memphis Rotary Club will meet today at noon at the University Club of Memphis, 1346 Central Ave. Mayor Willie W. Herenton will speak on the “State of the City.” Lunch is $18 per person and reservations are required. For reservations, e-mail Taylor Hughes at taylor@memphisrotary.org.

more events »

Ahead of the Bell: Regional Banks’ Estimates Cut

NEW YORK (AP) – An analyst on Monday cut his fourth-quarter and 2009 estimates on 14 regional banks to take into account dividend payments on preferred stock issued to the government and expectations for higher credit losses.

Aldi Inc. Buys Land For Collierville Store

523 W. Poplar Ave., Collierville, TN 38017, Sale Amount: $1 Million -
Aldi Inc. has paid $1 million for 2.6 acres of land along West Poplar Avenue in Collierville, where it will build a 17,000-square-foot grocery store this year. The Batavia, Ill.-based grocer, operating locally as Aldi Collierville LLC, bought the property in two parcels from Martin and Mildred Tippit.

GOP Looks to New Majorities in Tenn. Legislature

NASHVILLE, Tenn. (AP) - The good news for Republicans is they will hold new majorities in both chambers when the 106th General Assembly convenes Tuesday.

Top 2 House Republicans Named in Ethics Complaint

NASHVILLE, Tenn. (AP) - The top two Republicans in the state House have been accused of improper conduct in the 2008 campaign by a Democrat who lost re-election.

Citi Shares Fall Despite Talks with Morgan Stanley

NEW YORK (AP) - Citigroup Inc.'s stock sank Monday to its lowest levels since November as investors wondered how much more cash the troubled bank will need.

No Delay in Planned VW Plant in Chattanooga

CHATTANOOGA, Tenn. (AP) - The CEO of Volkswagen's planned assembly plant in Chattanooga said the $1 billion project is on schedule and 2011 remains the target for the start of production.

Obama Will Broaden Bailout Spending

WASHINGTON (AP) - President-elect Barack Obama's top economic adviser told congressional leaders Monday that the incoming president would broaden goals for using the remaining $350 billion financial bailout and insure transparency and oversight.

GM: Worst-Case Scenario Calls for More Gov't Money

DETROIT (AP) - General Motors Corp.'s chief operating officer wouldn't say Monday whether GM will need all $18 billion in government loans it sought from Congress, but he said GM's worst-case scenario would require more than the $13.4 billion already allocated by the Treasury Department.

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PROPERTY SALES 67 219 4,108
MORTGAGES 79 265 4,941
BUILDING PERMITS 182 533 8,794
BANKRUPTCIES 35 133 3,157

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